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Forums - General - PoliCHARTZ - Thread of U.S. Politics & the Presidential Election

Kasz216 on 17 October 2008
NJ5 said:
Wait, I'm getting confused now... Let me check one thing.

 

 Yeah, that can't be right.  I mean that would mean that the rich would be paying a lower % of their income then the middle class.

 



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NJ5 on 17 October 2008

Forget it, you were right in the first place :P The 20% also applies to the income above 80, which is why you were right.

What a brain fart...



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Final-Fan on 17 October 2008
Kasz216 said:
NJ5 said:
Kasz216 said:
8) Don't you think a progressive tax gives the government a big incentive to make the rich richer and the middle class poorer since the more rich the rich are the more taxes the government gets? Instead of a 20% all around... the government gets 23% if the rich get richer, and 17% if the middle class is buffed up?
(stuff)
This is not how it works in the US to my knowledge.  I may be wrong but i beleive it takes it out of your entire paycheck.  Which is why you can make money by donating to charity in the US.  Because it takes you down to a lower tax bracket by the amount you donate to charity.  Thereby saving you the extra money.

Yes you are wrong.  Higher brackets only apply to the money ABOVE what was made in the lower brackets. 

So if 0-10000 is taxed at 10% and 10001+ is taxed at 20%, then taxes on 20000 of income would be 1000+2000=3000 (not 4000). 

I'll do a full response later.  I'm thinking about making that thread. 



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Kasz216 on 17 October 2008
Final-Fan said:
Kasz216 said:
NJ5 said:
Kasz216 said:
8) Don't you think a progressive tax gives the government a big incentive to make the rich richer and the middle class poorer since the more rich the rich are the more taxes the government gets? Instead of a 20% all around... the government gets 23% if the rich get richer, and 17% if the middle class is buffed up?
(stuff)
This is not how it works in the US to my knowledge.  I may be wrong but i beleive it takes it out of your entire paycheck.  Which is why you can make money by donating to charity in the US.  Because it takes you down to a lower tax bracket by the amount you donate to charity.  Thereby saving you the extra money.

Yes you are wrong.  Higher brackets only apply to the money ABOVE what was made in the lower brackets. 

So if 0-10000 is taxed at 10% and 10001+ is taxed at 20%, then taxes on 20000 of income would be 1000+2000=3000 (not 4000). 

I'll do a full response later.  I'm thinking about making that thread. 

Then why do you get counted in a lower bracked if you give away so much money to charity and why is that beneficial?

Regardless my points still stand either way.

 



Final-Fan on 17 October 2008

I don't know the intricacies of why it's good on a tax return, but the basic structure is that you pay the percentage in EACH tax bracket. So you never go up to the next bracket and all of a sudden make LESS money after taxes from the base system. Maybe they become ineligible for some exemptions or something.

Like I said, I'll deal with the rest later, but I thought I could correct that misconception right now.

Proof: http://www.irs.gov/formspubs/article/0,,id=164272,00.html



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My advice to fanboys: Brag about stuff that's true, not about stuff that's false. Predict stuff that's likely, not stuff that's unlikely. You will be happier, and we will be happier.

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NJ5 on 17 October 2008

Final-Fan: Nice link. I can see a few differences to the system over here.

"So you never go up to the next bracket and all of a sudden make LESS money after taxes from the base system. Maybe they become ineligible for some exemptions or something."

Just a thought - could it be due to different rules for the state tax?



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Kasz216 on 17 October 2008
NJ5 said:
Final-Fan: Nice link. I can see a few differences to the system over here.

"So you never go up to the next bracket and all of a sudden make LESS money after taxes from the base system. Maybe they become ineligible for some exemptions or something."

Just a thought - could it be due to different rules for the state tax?

Not sure.  All I know is that anybody REALLY rich often gives a lot of money to charities they don't even care about for the tax breaks.

The one thing that's fun isn't the state tax.  It's the City Tax... where if you work in a different city you get charged twice.



NJ5 on 17 October 2008
Kasz216 said:
NJ5 said:
Final-Fan: Nice link. I can see a few differences to the system over here.

"So you never go up to the next bracket and all of a sudden make LESS money after taxes from the base system. Maybe they become ineligible for some exemptions or something."

Just a thought - could it be due to different rules for the state tax?

Not sure.  All I know is that anybody REALLY rich often gives a lot of money to charities they don't even care about for the tax breaks.

The one thing that's fun isn't the state tax.  It's the City Tax... where if you work in a different city you get charged twice.

Over here it's based on your residence I think. What if you have two jobs in different cities and live in a third city?

It also rewards the government when people do long commutes. Mmmm.

 



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Kasz216 on 17 October 2008
NJ5 said:
Kasz216 said:
NJ5 said:
Final-Fan: Nice link. I can see a few differences to the system over here.

"So you never go up to the next bracket and all of a sudden make LESS money after taxes from the base system. Maybe they become ineligible for some exemptions or something."

Just a thought - could it be due to different rules for the state tax?

Not sure.  All I know is that anybody REALLY rich often gives a lot of money to charities they don't even care about for the tax breaks.

The one thing that's fun isn't the state tax.  It's the City Tax... where if you work in a different city you get charged twice.

Over here it's based on your residence I think. What if you have two jobs in different cities and live in a third city?

It also rewards the government when people do long commutes. Mmmm.

 

Not sure.  It's screwy like that... depends on certain jobs too... on some it took the city tax right out, others it didn't.

 



akuma587 on 17 October 2008

Some FOX news bits:



We had two bags of grass, seventy-five pellets of mescaline, five sheets of high-powered blotter acid, a salt shaker half full of cocaine, a whole galaxy of multi-colored uppers, downers, screamers, laughers…Also a quart of tequila, a quart of rum, a case of beer, a pint of raw ether and two dozen amyls.  The only thing that really worried me was the ether.  There is nothing in the world more helpless and irresponsible and depraved than a man in the depths of an ether binge. –Raoul Duke

It is hard to shed anything but crocodile tears over White House speechwriter Patrick Buchanan's tragic analysis of the Nixon debacle. "It's like Sisyphus," he said. "We rolled the rock all the way up the mountain...and it rolled right back down on us...."  Neither Sisyphus nor the commander of the Light Brigade nor Pat Buchanan had the time or any real inclination to question what they were doing...a martyr, to the bitter end, to a "flawed" cause and a narrow, atavistic concept of conservative politics that has done more damage to itself and the country in less than six years than its liberal enemies could have done in two or three decades. -Hunter S. Thompson