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#51
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What a Wonderful Morning
"Robert M. Gary" wrote in message ... On Apr 15, 4:41 pm, "Anon" wrote: Once again I think you might be surprised that it isn't really all that steeply progressive. As pointed out by others the truly elite do not pay as much when calculated as a percentage and the upper middle class is more heavily represented. But the percentages aren't so wildly skewed. Heres what a CPA firm publishes about it.http://www.rothcpa.com/archives/003036.php Gee, they talk about 6 figures like its a lot of money. Around here you need at least $150,000 to qualify for a 30yr fixed on a 3 bedroom house (remember, "rich" is relative). What ends up getting me is AMT. -Robert Well six figures is a very wide range. It looks fairly flat right up to nose-bleed territory and I expect that's probably close to right. |
#52
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What a Wonderful Morning
Matt W. Barrow wrote:
"Morgans" wrote in message ... I dream of the day I pay a full million dollars in tax!! Now THAT will be a year to remember! Never going to make it BTW, but it's something to shoot for! That's the way I always looked at it. Yep, and that was my point. I know I will never get there, teaching school. I do believe that teachers of all subjects deserve better compensation than they receive, especially in some states that pay less than other states. When they merit increases, they should get increases. How would you define "merit increases". That is an extremely dangerous path to go in education. For a while there was a movement that had teachers rated by the improvement of their students which led to teachers keeping the best lessons for themselves and not sharing (the top 10% get the merit increases, etc.). Of course there are the teachers who chose to teach the "difficult" students and those students rarely make great strides. "Jeez, the retarded kids never go up 2 grade levels in reading in one year! I'll never make money teaching them!". Margy No, I haven't read d' Tocqueville since college and I choose not to argue Marx today. (I also don't teach anymore. I left for a "government job" that has longer hours and lower pay, but I have an SR-71 parked outside of my office. |
#53
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What a Wonderful Morning
Bring on flat tax. I'll take my chances.
Amen, brother -- but not because it will lower my tax rate. I just finished another tax season as a the owner of an S Corporation. This was my 15th year as the owner of a corporation, during which time I've owned three businesses. Although I started as a business major in college, way back in "the day", I finished with a degree in English -- so I'm not CPA material. Nonetheless, I started doing business on a paper ledger sheet, graduated to "Managing Your Money", and have now progressed to using "Quickbooks Pro" to run the show. I personally figure and process all the various and sundry tax forms each month, and each quarter, and have thus far evaded both bankruptcy and the taxman's wrath. Despite this, at the end of the year I am forced to pay a CPA an absurd amount of money to do my year-end corporate taxes. The resulting returns are well over 2 inches thick, and contain dozens of pages of incomprehensible tables and numbers. It would not be inaccurate or unkind to say that I don't fully understand them, even AFTER I sign them -- which is an absurd state of affairs. A flat tax could eliminate all this bull****. Or, at the very least, simplify it to the point where a simple, college-educated business owner could actually do and understand his own year-end business taxes. But then, of course, we would no longer be baffled by all the bull****, which would shine a harsh light on how much we're all really paying -- something the gummint has NO interest in divulging. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#54
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What a Wonderful Morning
http://www.urban.org/UploadedPDF/100...t_05-08-06.pdf
-- Geoff The Sea Hawk at Wow Way d0t Com remove spaces and make the obvious substitutions to reply by mail When immigration is outlawed, only outlaws will immigrate. |
#55
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What a Wonderful Morning
http://www.urban.org/UploadedPDF/100...t_05-08-06.pdf
So we are to conclude that other countries are farther down the road to perdition than we are? Cold comfort, there. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#56
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What a Wonderful Morning
Jay Honeck wrote:
Bring on flat tax. I'll take my chances. Amen, brother -- but not because it will lower my tax rate. .lots of stuff from Jay snipped. I believe we started this out many years ago with this kind of simplicity in mind. The tax structure was fairly straightforward after the forming of the country (well, after we stole a bunch of land from the American Indians). Then, some bright persons figured out ways to avoid the simple schemes set in place. Also, somewhere along the line, we were all asleep at the wheel when the 10% tax cap was repealed. More complex rules were set in place to close the newfound loopholes. New ways to invest and make money sprang up. The "people's" appetite for more govt. programs went wildly out of control. This vicious cycle of new ways to invest and make money followed closely by financial people figuring out new ways to avoid taxation fueled what we have today. This was aggravated by the notion that government should be the funding source for lots of things the framing fathers of this land likely did not imagine. One man's perfectly reasonable program is another man's pork. It is tempting to streamline it all and leave it at that. The result would likely be a tax system that is incredibly easy for the well off (defined as anyone making more money than me) to cheat the system and pay little to no tax (if you assume that is not the case already). Thus starting the whole escalation once again. And this does not address the sister demon: skyrocketing spending. Any tax reform would benefit greatly from less pressure to raise so much money in the first place (can you say: presidential line item veto? I knew you could). So, perhaps a simple tax structure coupled with some mechanism for review using plain language and plain folks. No ideas on how the mechanics might work (I outsourced my govt. decisions to my congresscritter). Have fun hashing this out. Mike |
#57
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What a Wonderful Morning
Have fun hashing this out.
It's impossible to be too cynical when it comes to our gummint. I'm afraid it's beyond repair. The best one can hope for at this point is to complete ones life before the next revolution. -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" |
#58
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What a Wonderful Morning
When I had employees and paid those monthly withholding taxes, I'd do
it on Friday night (when the week was done) and imbibe some adult beverage. |
#59
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What a Wonderful Morning
On Apr 15, 4:22 pm, "Morgans" wrote:
Bring on flat tax. I'll take my chances. -- Jim in NC Here in Alberta, Canada, we have a flat provincial tax (while the federal is still graduated). There are hefty personal deductibles as well, so that the lower-income earners pay little or no provincial tax, so I suppose it's still not a true flat tax. We also have something called "Tax Freedom Day," dreamed up by the Canadian Taxpayers Federation (I think). It establishes the theoretical date in any particular year on which you finally get to start keeping the money you earn; the previous earnings for the year all going to governments of various levels in one form of taxation or another. Last I heard it was on or around June 21, which means that the average Canadian pays out nearly half of his yearly income to taxes. That's the *average,* not the wealthiest. There are some that pay much more and a few that pay nearly nothing. The tax freedom date has backed up a day or two in recent years, I think, but not so's a man would notice. National debt requires servicing, and until interest rates dropped a few years ago a third of the federal budget was going to pay the interest on that debt. It's the result of shortsighted borrowing and spending. There are many other areas where vast sums are wasted; we all know that the government does nothing efficiently. Lots of overlap, lots of redundancy and lots of folks doing little more than collecting a fat paycheque. Taxes could drop enormously if a government had the guts to make the cuts. Dan |
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