Taxes

[realist]

Okay I just looked over the president's tax return. Now just looking at his income from the presidency is $400,000 (rounded off) and he had $100,000 or roughly 25% taken out. Then state taxes were roughly $11,000 or about 2.8%. I got depressed and didn't even look at Romney's but I understand that he only paid about 15%. My question is WHY am I paying 33% Federal tax and 9.3% state tax???? I always thought that if you made more you paid more. However under this present scenario it appears that when you make less you just pay more. According to my tax man when you hit the alternative minimum tax you no longer can use the majority of deductions. I do not care if you are a democrat or a republican, I am just trying to figure out is where that missing puzzle piece is that I missed that requires me to pay a higher percent than them when I make a butt load less??????????? TIFU

BTW I am trying to be fair and impartial by not including the 7% FICA that I also pay.

[ak474u]

I'm a proponent of a sales tax over income tax. While rich people pay a lower rate due to write-offs, they do pay a higher dollar figure. 15% of 1,000,000 is way more than 25% of 50,000 for instance. I feel like I could do more for the economy with my tax money than the govt. could, So I would like to see a national sales that encourages saving. Don't spend money, don't pay taxes, easy concept IMHO. It also would make the illegals, and drug dealers pay taxes which most don't now.

[bacpacker]

Right on AK. No tax on true food products, but everything else gets it. Luxury items like planes and yatchs at a higher rate. It'll catch everybody across the board.

[Dropy]

I prefer a flat percentage tax for everyone. I do not feel that people who worked hard to make more should have to pay a larger percentage. To me that is a sheeple mentality. A few pay for the many sheeple.

[GunnerMax]

well realist, your 9.3% state tax is because you live in a fucked up state that doesnt allow for self defense (I am pro 2nd Amendment). Also, only in California does lead cause cancer.

I believe that there should be a flat out, across the board, tax percentage. Like 10% of your income, wether you work at the mcdonalds, or you are Bill Gates.

However, the write offs, donations, gifts, non counting things, etc should be taken out. For ex. I am only taxed on base pay. And that is only 1/2 of my actual income!

Ok, I looked at my pay. I was going to break down what percentages of my pay is taxed, and what percent of my pay is taxable, and other characteristics. I am not going to write dollar figures, as that is my business. Percentages are what the topic is about. Then I realized I am in a Tax Free zone. I havent paid taxes since last year. If I wasn't in a tax free zone, I would be taxed at 3.8% of my total income, with only 47% of my total income being taxed. I am taxed at 12.5% of my taxable income.

Before all you get all "WTF, gunner is doing highway robbery!!!!!" Realize I am in a tax free zone, with allowances, Hazard Pay, family separation pay, sea pay, and imminent danger. Everything changes when I am back at home. Please don't take this post as someone bragging, but as a realization of differences between jobs, choices, state residency (my state has no state income tax,) and destiny.

I am still stunned at the 9.3% state tax for Cali, and they are STILL in a budget crisis. Realist, I don't know what you do for a living, what numbers you make, or anything like that. I don't want to know, as that is your business. But maybe a move and career change?

Hope to not catch too much flak over this.

[helomech]

Until government spending is put under control I don't think we should pay more than 3% tax. If I am ever on a jury for tax evasion I would find the person not guilty, at least until spending on unconstitutional things are completely removed.

[bacpacker]

I second that Helo.

[GunnerMax]

This topic reminds me when the country was ran under the Articles of Confederation. The federal government had no power to tax. Every power was given to the states.

[Stg1swret]

I second a flat tax at 10%, but there is a catch. Before you start paying , you must be at or above the poverty level. Lets say that the poverty level for a single person is 6500.00 once you make any money above that then you pay 10% on that money.No other deductions allowed. Tax money can only be spent on defense. Money made on investments gets taxed at 1%, All government agencies will be funded by user fees, you use a government service you pay for it. It really is simple, and oh yes, the congress and the senate ask the people if they deserve a raise . We vote on it not them.

[Taz Baby]

Gunner You say that you are in Virginia and
(my state has no state income tax,)
I have to disagree here. Virginia has taxes. I know several people who live in Virginia. They all pay income taxes every year. And they all complain about it being to much. Although I do not know how much that is. Not calling you out on this but just wondering if you found a loop hole where you don't have to pay and I can pass that on to them.

[GunnerMax]

Taz,
I am a Florida resident :) My wife works in VA, but does not have to pay state taxes because she is also not a VA resident.

Military and their spouses do not pay state income taxes if you are in the state under orders, or for the instance of my wife, solely because I am there.

:)

[Gunfixr]

Va does have state tax, but Fla does not. I have a friend who is in the Coast Guard, and his official state residency is Fla.

I will stay out of the income tax discussion, as for all federal income taxes are UnConstitutional, unless you live in DC. Therefore we are all simply getting raped by FedGov every year.
FedGov is supposed to make their income by import/export taxes, not income taxes. By the Constitution, the states have the power to levy a universal income tax. The only time the FedGov is allowed to levy an income tax is to collect a specific amount over a specific time, with the amount and time and percentages spelled out in advance.

My opinion is we just quit paying the federal income tax, but a high percentage of the population has to all do it at once, the IRS will immediately pounce on whoever does it to try to keep it from snowballing. Of course, the FedGov will have to get it's nose out of a whole lot of things it's not supposed to be in anyway if that were to happen.