[rescue] Re: Taxes
lionel4287 at verizon.net
Sun Apr 18 08:14:21 CDT 2004
Sorry about perpetuating this on Rescue, my one post on the matter...
> From: Nick <nick at pelagiris.org>
> Date: 2004/04/17 Sat PM 11:03:27 GMT
> To: The Rescue List <rescue at sunhelp.org>
> Subject: Re: [rescue] Computerfests (was: first real server hardware)
> On Sat, Apr 17, 2004 at 03:34:03PM -0500, Jonathan C. Patschke wrote:
> > On Sat, 17 Apr 2004, Andrew Weiss wrote:
> > > B. Why does someone who makes 200,000 a year need that
> > > deduction?
> > That's wholly beside the point.
> > It's not that they "need" a "deduction". It's that THEY
> > EARNED THAT MONEY. Taxation should be consistent and
> > even. "From each according to his ability, to each
> > according to his need" is NOT a capitalistic idea.
I kept thinking that as I worked throughthe thread..
> > If I bust my ass and make six digits a year, I want as
> > LITTLE as possible of that money to go towards supporting
> > freeloaders who -didn't- sacrifice sleep and time with
> > their families to get there. I'll give to church or
> > charity to help those in need. I DO NOT trust the gov't
> > to be nearly as efficient or intelligent about it.
Donations to charitable Org. went up when the tax rate went down sorry, can't cite the source (so take it as hear-say).
> That's a nice theory. The only problem is they don't pay
> the same tax rate we do... they pay a lawyer or accountant
> to find tax shelters for them, and pay 1% tax or less. Is
> that fair? A single mother making 20k a year pays More
> Taxes than microsoft did last year? And the year
> before? I pay more taxes than the average lawyer making
> 200k? (I make less than 50k) Bit fucked up woudln't you say?
You are confusing tax RATE with tax LAW - they pay the same rate as everyone else (there are no breaks for "Lawyers" specifically), they simply take advantage of the existing tax code - don't like it, change it!
Every wealthy person I know (I know several) really liked Steve Forbes flat tax rate which went, as I remember it:
One simple deduction ($35K, IIRC) - earn less than that, no taxes.
Medical/Interest on mortgage still deductible
After decductions, 15% of earings due as tax.
$20,000 single mother - no taxes.
$200,000 lawyer in $500,000 house
$200,000 - $35,000 is $165,000 taxable
Deduct $$18,000 interest on house, thats $147,000 taxable
No significant medical
Tax due $147,000 x 15% is $22,050 taxes due.
In England the tax rate used to be 92% for high-earners - know what they did? The rich became tax-exiles. They opted out. John Lennon was a famous tax-exile, he hated paying 920,000 pounds on the last million he earned...
ANyway, sorry for off-topic post...
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