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A not so hypothetical situation... wooly Send a noteboard - 23/02/2012 05:46:44 AM
So I'm in a situation now where through some good career moves over the past few years I've paid my house off. I'm now taking the excess income and investing it in the stock market. I also started a side business. The net effect of all this is that my effective tax rate is now lower than when I had to struggle to make ends meet.

While I'm not going to volunteer to send extra money to the government (just as warren Buffet doesn't), I don't see the wisdom in a system that is skewed to help those that are already successful. Why should I pay a lower rate now that I have money to spare?

I realize that your linked article is not about people in my situation. I'm also not trying to set you up for an arguement. I just want your opinion, because I'm guessing that you feel my new tax situation to be entirely justified (while I don't). The discrepancy between capital gains rate and income rate just seems weird to me.

Also regarding your article: I don't think it is right that lots of people pay no income taxes, but I also don't think it's right that the super wealthy pay a lower effective rate than me. But given the fact that they do pay a lower rate, do you think it should be increased along with a reform to have more americans at lower income levels actually pay into the system?
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Why Joel is CRAZY - Nearly Half of All Americans Don't Pay Federal Income Taxes - 23/02/2012 04:43:15 AM 1407 Views
A not so hypothetical situation... - 23/02/2012 05:46:44 AM 832 Views
Your paying more money now than then. Lower rate but more money *NM* - 23/02/2012 07:52:51 AM 508 Views
Accurate statement, but not a justification *NM* - 23/02/2012 03:44:55 PM 397 Views
Re: A not so hypothetical situation... - 23/02/2012 02:39:43 PM 938 Views
I don't know much about that. - 23/02/2012 03:53:27 PM 774 Views
Why the heck do you think the current tax system is skewed to the rich? - 23/02/2012 03:18:43 PM 972 Views
That's a fair question - 23/02/2012 03:52:08 PM 861 Views
You're operating under the same fallacy he does - that people should pay income taxes. - 23/02/2012 12:05:52 PM 1030 Views
In much the same way - 23/02/2012 01:40:58 PM 983 Views
Same argument re: fallacies - 24/02/2012 02:52:17 PM 813 Views
Was meant as a joke reply - 02/03/2012 06:30:15 PM 1000 Views
Joel is crazy, but I highly doubt that this is "why" - 23/02/2012 01:36:37 PM 1021 Views
HA! HA! Very well played! *NM* - 23/02/2012 03:49:35 PM 354 Views
You mention this statistic all the time. - 23/02/2012 02:16:47 PM 708 Views
Obviously, we are talking about the bottom 50%..... - 23/02/2012 03:22:43 PM 742 Views
How do you account for retired folks? - 23/02/2012 04:18:59 PM 957 Views
social security isn't taxable either *NM* - 24/02/2012 04:21:21 AM 412 Views
Easy... he doesn't. - 25/02/2012 02:56:05 AM 692 Views
I wonder how much of that statistic is students - 23/02/2012 02:22:58 PM 967 Views
Federal taxes - 23/02/2012 04:18:22 PM 831 Views
Your figures are fairly unrealistic - 23/02/2012 04:54:44 PM 1030 Views
Not entirely. - 23/02/2012 06:30:18 PM 779 Views
On exempting SS income: - 25/02/2012 02:30:43 AM 782 Views
Is there any reason why one should exclude the other? - 23/02/2012 07:32:09 PM 830 Views

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