Isaac
Lifelong Learner
- Local time
- Today, 14:49
- Joined
- Mar 14, 2017
- Messages
- 9,907
Open your eyes stupid, only slightly more than half of wage earners actually have to pay any income tax at all and 80% of the money collected comes from top 20% right now. There aren't enough rich people in the world to fund your outrageous freebies even if you took all their income. Why the hell do you think California is trying to pass a bill to tax assets? How that will work is never discussed. Who decides whether my small business is worth $1.98 or $500,000,000?
And I'm in agreement that any politician going on and on about how we shouldn't tax the poor, as well as the extent that Republicans sometimes tout their "tax cuts" that mostly affect wealthy or corporations, is poppycock. Because truly poor people pay nothing in taxes, if they are even halfway awake when filling them out. And yes, they get the government benefits that others pay for.
What I'm trying to learn more about nowadays is tax policies versus those of us in the middle. Maybe, selfishly, this is because I am in that category. I'm neither rich nor poor, but comfortable ... Still have a couple dependents, though they're on the older fringe. I have no great beneficial tricky things going on (like forming a consulting LLC and milking the heck out of it), although I could be convinced to do so some day. I have no particularly attractive taxable income deductions (like parent care or farming). I'm just an average person comfortable. And I DEFINITELY pay taxes. I use every trick in TurboxTax.com's book to reduce them, but still end up paying many thousands each year.
So I see about 6 categories that seem to matter:
1) Quite poor.
2) People like me. Paying plenty of taxes but nowhere remotely near "rich"
3) Somewhat wealthy people (let's say yearly household $250k, $350k +), who do pay significant taxes, and tend to fall in high brackets.
4) Uber-wealthy people, I believe this is the category that "get away with murder", due to having a high capacity for legal and accounting support which leads to channeling a lot of responsibility through commercial taxing policies
5) Small businesses
6) Large businesses
I think when politicians talk about policies, it would help if there were some centralized definitions that would quickly help everyone understand which categories were going to be affected, period. Taxing law & policies are a bottomless pit of complexities and inter-dependencies, and I tend to be very slow to criticize any policy, as it's so darn difficult to contextualize fairly and thoroughly. That's the problem--we have created a taxing system that's SO complicated that it's next to impossible to take what seems to be a clear social vision and translate it into policy.....because absolutely no tax policy change seems to happen in a vacuum.
I guess if we took every tax policy change and simply looked at 1) who would be affected, precisely versus 2) what those people's effective tax rate was last year....That might be a place to start. Until I'm able to do that, all tax policy changes seem murky and somewhat meaningless to me.
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