Active Users:193 Time:18/04/2024 05:03:37 PM
Your paying more money now than then. Lower rate but more money *NM* Urza Send a noteboard - 23/02/2012 07:52:51 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?
Reply to message
Why Joel is CRAZY - Nearly Half of All Americans Don't Pay Federal Income Taxes - 23/02/2012 04:43:15 AM 1414 Views
A not so hypothetical situation... - 23/02/2012 05:46:44 AM 839 Views
Your paying more money now than then. Lower rate but more money *NM* - 23/02/2012 07:52:51 AM 511 Views
Accurate statement, but not a justification *NM* - 23/02/2012 03:44:55 PM 401 Views
Re: A not so hypothetical situation... - 23/02/2012 02:39:43 PM 943 Views
I don't know much about that. - 23/02/2012 03:53:27 PM 779 Views
Why the heck do you think the current tax system is skewed to the rich? - 23/02/2012 03:18:43 PM 979 Views
That's a fair question - 23/02/2012 03:52:08 PM 866 Views
You're operating under the same fallacy he does - that people should pay income taxes. - 23/02/2012 12:05:52 PM 1034 Views
In much the same way - 23/02/2012 01:40:58 PM 987 Views
Same argument re: fallacies - 24/02/2012 02:52:17 PM 817 Views
Was meant as a joke reply - 02/03/2012 06:30:15 PM 1006 Views
Joel is crazy, but I highly doubt that this is "why" - 23/02/2012 01:36:37 PM 1025 Views
HA! HA! Very well played! *NM* - 23/02/2012 03:49:35 PM 357 Views
You mention this statistic all the time. - 23/02/2012 02:16:47 PM 713 Views
Obviously, we are talking about the bottom 50%..... - 23/02/2012 03:22:43 PM 748 Views
How do you account for retired folks? - 23/02/2012 04:18:59 PM 961 Views
social security isn't taxable either *NM* - 24/02/2012 04:21:21 AM 416 Views
Easy... he doesn't. - 25/02/2012 02:56:05 AM 696 Views
I wonder how much of that statistic is students - 23/02/2012 02:22:58 PM 973 Views
Federal taxes - 23/02/2012 04:18:22 PM 838 Views
Your figures are fairly unrealistic - 23/02/2012 04:54:44 PM 1035 Views
Not entirely. - 23/02/2012 06:30:18 PM 785 Views
On exempting SS income: - 25/02/2012 02:30:43 AM 786 Views
Is there any reason why one should exclude the other? - 23/02/2012 07:32:09 PM 834 Views

Reply to Message