re: Taxless nation

Quoting TheNuge:" I'm not in favor of a "taxless nation," and i belive in a moderatly progressive tax. I also believe ... [snip!] ... economy. Your example of getting to $60k doesnt really wrk as you wouldnt be rich and wouldnt bump into a very high bracket."

To my broke self, sixty thousand is a lot, lol. "Rich" is subjective.

Quoting SpaceCowgirl:" I don't understand why the rich people in Hollywood and people like Warren Buffet who say that they want to be taxed more don't just send a check to the IRS."

It's all BS so they look like "cool" rich people and dont get criticized.
They say the rich should pay more yet the pay zillions to accountant to take every deduction and credit possible.
Warren Buffet is in a HUGE fight with the IRS as the IRS says his company owes millions to the federal governemnt. so, if he is consistent, he should just pay it.

Quoting Back to Noob Status:" To my broke self, sixty thousand is a lot, lol. "Rich" is subjective."

lol.. Whe making $60k, you wont feel rich. I swear.
And, that doesnt get you to the bracket where your paycheck is cut nearly in half.
Just think about working your ass off for years and years and getting to the point where you are making good money but still working really, really hard.
Let's say you make $100k/yr and the guy a few cubbies away makes $50k/yr.
If you work an 10 hour day, you are working your first 4 hours of that day for the government and he is probably working about 2 hours/day for the government. of course, depending on what state you are in will make a big difference.

Quoting TheNuge:" lol.. Whe making $60k, you wont feel rich. I swear. And, that doesnt get you to the bracket where ... [snip!] ... working about 2 hours/day for the government. of course, depending on what state you are in will make a big difference."

But....but....that's 100k right there.  

But I see what you are saying. However, once you get to a certain level (megamillions) does it really matter?

Quoting Back to Noob Status:" But....but....that's 100k right there.   But I see what you are saying. However, once you get to a certain level (megamillions) does it really matter?"

I don't personally understand why someone thinks they need hundreds of millions of dollars, but I still think they should be able to amass whatever amount of wealth they want (legally, ethically, all that jazz).

<blockquote><b>Quoting Back to Noob Status:</b>" But....but....that's 100k right there.   But I see what you are saying. However, once you get to a certain level (megamillions) does it really matter?"</blockquote>




Sure it does.
First, we have to ask the ethical/moral question about randomly determining who should pay more and by how much.

Then, you look at what the mega millions are doing. Unless the money is stuffed under the proverbial mattress, it is "working."
If you followed me around for a month orn2 you'd see how much of the economy is stimulated by the rich (not mega rich). I've been around some "mega rich" enough to see how they support many local economies as well as supporting entrepreneurs.

Quoting TheNuge:" <blockquote><b>Quoting Back to Noob Status:</b>" But....but....that's 100k right there. ... [snip!] ... I've been around some "mega rich" enough to see how they support many local economies as well as supporting entrepreneurs."

Are you a believer of Reaganomics, Trickle Down Economy?

TBH the American tax system confuses me however I think a taxless nation is just a perfect way for nothing to ever get done ... if the policeman in your area has earned his 'quota' for the day or made what he needs to for that week then he can just ignore the fact that you're getting murdered. It would be a nightmare.
Also I'm confused ... if your say husband earns $100,000 a year and you earn $40,000 do you then both get taxed at his tax level? If so that's fricking stupid ... I'm sorry but it is.

Quoting The (super kinky) Master:" TBH the American tax system confuses me however I think a taxless nation is just a perfect way for nothing ... [snip!] ... a year and you earn $40,000 do you then both get taxed at his tax level? If so that's fricking stupid ... I'm sorry but it is."

You can choose to file separately or jointly. If you file jointly, you get taxed on the $140,000 altogether.

Quoting The (super kinky) Master:" TBH the American tax system confuses me however I think a taxless nation is just a perfect way for nothing ... [snip!] ... a year and you earn $40,000 do you then both get taxed at his tax level? If so that's fricking stupid ... I'm sorry but it is."

Yep. You file taxes as a family and not individually (well, you can file individually, but you are penalized for it). And, this is a country that was founded because people were tired of high taxes!

<blockquote><b>Quoting Back to Noob Status:</b>" Are you a believer of Reaganomics, Trickle Down Economy?"</blockquote>




Yes. BUT, people must understand that in "trickle down'" the business owner gets paid last.... So the owner is not at the top of the heap until many years of success.

Quoting SpaceCowgirl:" You can choose to file separately or jointly. If you file jointly, you get taxed on the $140,000 altogether."

That's absolutely ridiculous ... I get taxed on what I make, what SO makes doesn't mean anything and we file together. The only time one wage affects the other is when one spouse starts earning less than (I think) $21,000 and the bread earner gets a tax break for 'supporting' them.

<blockquote><b>Quoting The (super kinky) Master:</b>" That's absolutely ridiculous ... I get taxed on what I make, what SO makes doesn't mean anything and ... [snip!] ... is when one spouse starts earning less than (I think) $21,000 and the bread earner gets a tax break for 'supporting' them."</blockquote>




I'm not a tax professional but I remember our accountant saying that it usually doesn't make sense to file "married but filing separately" rather than "married and filing jointly.,
Our system is very complex.

Quoting TheNuge:" <blockquote><b>Quoting The (super kinky) Master:</b>" That's absolutely ridiculous ... [snip!] ... make sense to file "married but filing separately" rather than "married and filing jointly., Our system is very complex."

Yep. You make a ton more in credits/EIC if you file joint. We will probably do married filing seperately next year (2014 taxes) because we will have seperate households and we will both be out of the country. I will be paying a TON of taxes on money I didn't even earn in the US and he will be getting a ton back because he is getting deployed.

Quoting TheNuge:" <blockquote><b>Quoting The (super kinky) Master:</b>" That's absolutely ridiculous ... [snip!] ... make sense to file "married but filing separately" rather than "married and filing jointly., Our system is very complex."

It seems to complex to me. Here we have tax brackets everyone falls in (even welfare recipients get taxed on what they receive), we pay a medicare levy (which you can be exempt from if you have insurance), and then a natural disaster levy (to help people affected by natural disasters). Then we start claiming smurf back like travelling, school, uniforms etc ... we (hopefully) get an amount back and the rest goes to the governement.
Last year between us SO and I paid about $12,000 in taxes and we got $1500 back.