Fair Tax (take two)

[Diff-chan]

Why the hell would he bother making better money if he didn't end up with more after necessities?

He does. A lot more. Whether or not the government is taking 25% or 35%.

There is no point on the curve where a bump in pre-tax salary means a decrease in post-tax salary. A lot of people assume this is the case but it's not.

[MarkRyan]

There is no point on the curve where a bump in pre-tax salary means a decrease in post-tax salary. A lot of people assume this is the case but it's not.

It wasn't my point that under the current tax system a guy making more money ends up with the same as/less than the guy making $40k. Just that someone's (looking at you, Sleeveboy) trying to make that sound unfair.

[sleeve]

And with things like property, the person who inherits it will continue to pay property tax on it. They will pay tax if they sell it, and they will pay tax if they cut the timber and sale that. It’s not like the government will suddenly stop seeing money when the land changes hands.

Ever hear of property tax deductions?

besides, I don't think you should pay tax on a lottery ticket. You won it, its a prize. It's not income because you didn't work to get it.

Tell that to your auditor.

[Fe 26]

Tell that to your auditor.

just becuase something is illegal doesn't make it wrong.

Do you say crap like that when people smoke pot?

[sleeve]

just becuase something is illegal doesn't make it wrong.

Just because something is wrong doesn't mean your argument isn't freaking stupid.

[Bojack]

besides, I don't think you should pay tax on a lottery ticket. You won it, its a prize. It's not income because you didn't work to get it.

It's still an increase in money. It's called Income Tax, not "Wage tax" or something like that. The government doesn't give two shits where that money came from.

[Fe 26]

Just because something is wrong doesn't mean your argument isn't freaking stupid.

well you smell

like feet

[Vasteel]

I actually do see the Ironbutt's point on the death tax here, though. Inheriting a piece of million-dollar real estate isn't the same as winning a million dollars in the lottery, in that the land has already been and will continue to be taxed, incomes generated by its resources will be taxed, etc.

However, from where my broke ass is sitting, if you have 100k in the bank, let alone an estate worth a million or 2, you need to shut the fuck up and quit bitching, you have no idea what some of us have to deal with through no fault of our own.

[dog$]

There are a few ways to argue that the Estate Tax is ill principled, but the truth is that it accounts for a minute portion of the total taxes collected. See page 10 of this pdf.

Also there are things like the Alternative Minimum Tax which are meant to ensure that people who continuously earn high income are taxed more, but the law seems to have become so dated that it targets more upper midclass (100-150k range) people than the very rich. There's a pdf somewhere on the IRS site that details how AMT isn't working. I've never used a 6251 myself but I'm going to read up in more detail about it soon - from what I could glean off of the form, it does seem to target those who have substantial income in several places and fashions.

I also have a few authors to look up now.

[Yoshi]

I can't believe how many socialists we have on TNL. Buttplant can't make points to save his life, but his heart is in the right place. Punishing success doesn't exactly incent the behavior we'd like to see in this country.