probably, I bet he's just moaning.Varegg wrote:
Yes ... but like you pointed out earlier this isn't just income tax we are talking about ... it sounds steep and I actually doubt his dad pay that much tax ...FEOS wrote:
But you're still giving 80 cents of every dollar you earn to the state. It doesn't matter how much you have left over...it's still only twenty percent of what you earned for your efforts.Varegg wrote:
Will just add something to that ... if you have a tax at 80% like Jenspms dad you make so much money that whatever you have left is enough to buy a small African country!
That's essentially the state saying, "Twenty percent of your pay is enough for you. You don't need any more than that...but I do."
I just don't see how people can NOT take issue with that.
We have similar upper marginal tax rates in this country (once you take into account all taxes paid). Yet the current administration has the audacity to say that those income brackets "aren't being asked to pay anything" (he actually said that in a speech during this "debt crisis"). It's fucking astonishing, tbh. The top 1% of wage earners pay 24% of the income taxes collected. The top 20% pay 70% of them.
edit- did some maths, it's more in the low 70s.
Last edited by Jenspm (2011-08-03 04:52:47)