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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 1925 Views
A not so hypothetical situation... - 23/02/2012 05:46:44 AM 1305 Views
Your paying more money now than then. Lower rate but more money *NM* - 23/02/2012 07:52:51 AM 776 Views
Accurate statement, but not a justification *NM* - 23/02/2012 03:44:55 PM 647 Views
Re: A not so hypothetical situation... - 23/02/2012 02:39:43 PM 1412 Views
I don't know much about that. - 23/02/2012 03:53:27 PM 1203 Views
Why the heck do you think the current tax system is skewed to the rich? - 23/02/2012 03:18:43 PM 1434 Views
That's a fair question - 23/02/2012 03:52:08 PM 1312 Views
Once again, poor people have no money with which to pay taxes. - 23/02/2012 06:23:07 AM 1452 Views
You're operating under the same fallacy he does - that people should pay income taxes. - 23/02/2012 12:05:52 PM 1531 Views
In much the same way - 23/02/2012 01:40:58 PM 1454 Views
Same argument re: fallacies - 24/02/2012 02:52:17 PM 1317 Views
Was meant as a joke reply - 02/03/2012 06:30:15 PM 1609 Views
Joel is crazy, but I highly doubt that this is "why" - 23/02/2012 01:36:37 PM 1530 Views
HA! HA! Very well played! *NM* - 23/02/2012 03:49:35 PM 590 Views
I see your point, but not how it changes much in the conversation where we discussed that - 25/02/2012 01:49:29 AM 1302 Views
Joel, get your head out of your ass, if that is possible - 25/02/2012 07:02:34 PM 1350 Views
You kiss your momma with that ad hominem? - 27/02/2012 09:11:33 AM 1516 Views
You mention this statistic all the time. - 23/02/2012 02:16:47 PM 1199 Views
Obviously, we are talking about the bottom 50%..... - 23/02/2012 03:22:43 PM 1184 Views
How do you account for retired folks? - 23/02/2012 04:18:59 PM 1411 Views
social security isn't taxable either *NM* - 24/02/2012 04:21:21 AM 677 Views
Easy... he doesn't. - 25/02/2012 02:56:05 AM 1149 Views
I wonder how much of that statistic is students - 23/02/2012 02:22:58 PM 1434 Views
Federal taxes - 23/02/2012 04:18:22 PM 1336 Views
Your figures are fairly unrealistic - 23/02/2012 04:54:44 PM 1486 Views
Not entirely. - 23/02/2012 06:30:18 PM 1266 Views
On exempting SS income: - 25/02/2012 02:30:43 AM 1248 Views
Is there any reason why one should exclude the other? - 23/02/2012 07:32:09 PM 1320 Views

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