lets see what the distribution on the effective tax rate is for DFD. Add your federal tax, ssn, and medicare up, divide by income.
This year sucked for me and the unit.
23% federal tax rate
27.4% with SSN and medicare
29.6% with state
does not include sales tax
does not include use tax
fuck our government. right in the ear. and fuck you if you think taxes are too low. we had an ok year but it was by no means stellar, other than on fucking paper.
2016 taxes
- goIftdibrad
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27.8% federal
34.6% with state+county+city
37.9% all-in with property taxes on vehicles and house
It doesn't seem like that much until you add it all up.
34.6% with state+county+city
37.9% all-in with property taxes on vehicles and house
It doesn't seem like that much until you add it all up.
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i didn't bother going to property taxes, sales, use and the like. But yea, i get over 50% of our money went to fucking taxes this year.troyguitar wrote: ↑Tue Feb 14, 2017 1:57 pm 27.8% federal
34.6% with state+county+city
37.9% all-in with property taxes on vehicles and house
It doesn't seem like that much until you add it all up.
brain go brrrrrr
- troyguitar
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I counted property taxes because all of our property (vehicles or house) is depreciating and it was easy to add in there. The rest of DFD has houses that appreciate so in theory that money is well spent?
Sales tax is harder to guess, along with gasoline taxes and whatever other BS. It probably does end up in the 45% effective range for all taxes.
Sales tax is harder to guess, along with gasoline taxes and whatever other BS. It probably does end up in the 45% effective range for all taxes.
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yea man, it definitely counts.troyguitar wrote: ↑Tue Feb 14, 2017 2:08 pm I counted property taxes because all of our property (vehicles or house) is depreciating and it was easy to add in there. The rest of DFD has houses that appreciate so in theory that money is well spent?
Sales tax is harder to guess, along with gasoline taxes and whatever other BS. It probably does end up in the 45% effective range for all taxes.
brain go brrrrrr
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I don't actually mind the "high" tax rates so much except for 2 things:
First: The funds always seem to be spent in a shitty manner which is - but I am not convinced that the private sector does any better with its spending. CEO's getting paid millions while employees get $2/month in Malaysia and all that BS is no better than .gov fucks spending 80% of the year on vacation. I've no solution for this but it still bugs me.
Second: Beyond a certain point, rich people and corporations (because corporations are people...) start paying less and less as an effective rate. That's not how progressive taxes are supposed to work. This one is easy to solve. Keep the same progressive bracket structure and apply it to ALL income from any source whether it's personal or corporate, "ordinary" or "capital gains" etc. No deductions of any kind for any reason, period. Adjust the details of the brackets to meet revenue targets, done.
First: The funds always seem to be spent in a shitty manner which is - but I am not convinced that the private sector does any better with its spending. CEO's getting paid millions while employees get $2/month in Malaysia and all that BS is no better than .gov fucks spending 80% of the year on vacation. I've no solution for this but it still bugs me.
Second: Beyond a certain point, rich people and corporations (because corporations are people...) start paying less and less as an effective rate. That's not how progressive taxes are supposed to work. This one is easy to solve. Keep the same progressive bracket structure and apply it to ALL income from any source whether it's personal or corporate, "ordinary" or "capital gains" etc. No deductions of any kind for any reason, period. Adjust the details of the brackets to meet revenue targets, done.
- goIftdibrad
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sounds alot like the fair taxtroyguitar wrote: ↑Tue Feb 14, 2017 2:29 pm I don't actually mind the "high" tax rates so much except for 2 things:
First: The funds always seem to be spent in a shitty manner which is - but I am not convinced that the private sector does any better with its spending. CEO's getting paid millions while employees get $2/month in Malaysia and all that BS is no better than .gov fucks spending 80% of the year on vacation. I've no solution for this but it still bugs me.
Second: Beyond a certain point, rich people and corporations (because corporations are people...) start paying less and less as an effective rate. That's not how progressive taxes are supposed to work. This one is easy to solve. Keep the same progressive bracket structure and apply it to ALL income from any source whether it's personal or corporate, "ordinary" or "capital gains" etc. No deductions of any kind for any reason, period. Adjust the details of the brackets to meet revenue targets, done.
brain go brrrrrr
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"Fair Tax" is regressive beyond lower middle class income levels, it's worse than the current system IMO.Big Brain Bradley wrote: ↑Tue Feb 14, 2017 2:31 pmsounds alot like the fair taxtroyguitar wrote: ↑Tue Feb 14, 2017 2:29 pm I don't actually mind the "high" tax rates so much except for 2 things:
First: The funds always seem to be spent in a shitty manner which is - but I am not convinced that the private sector does any better with its spending. CEO's getting paid millions while employees get $2/month in Malaysia and all that BS is no better than .gov fucks spending 80% of the year on vacation. I've no solution for this but it still bugs me.
Second: Beyond a certain point, rich people and corporations (because corporations are people...) start paying less and less as an effective rate. That's not how progressive taxes are supposed to work. This one is easy to solve. Keep the same progressive bracket structure and apply it to ALL income from any source whether it's personal or corporate, "ordinary" or "capital gains" etc. No deductions of any kind for any reason, period. Adjust the details of the brackets to meet revenue targets, done.
- goIftdibrad
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we disagree. the fair tax is, well fair.
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Trump does plan to lower the tax rate for corporations.
That would be a huge plus, since we have the highest taxes on corporations in the world.
http://www.marketwatch.com/story/trumps ... 2017-02-13
That would be a huge plus, since we have the highest taxes on corporations in the world.
http://www.marketwatch.com/story/trumps ... 2017-02-13
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Because buying a hotel should be tax-free but buying a Barbie Hotel should be taxed?
Buying stocks should be tax-free but buying socks should be taxed?
Fair Tax would be fair if it applied to EVERY PURCHASE of any kind whether it's an airboat, a swamp, an oil future, or a blowjob. Consumption is consumption - limiting it to things that poor people buy is NOT fair.
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Yes, the fair tax as proposed has some issues. But no, investments should not be taxed. used hotels already had the tax paid, so no. new hotels, you have pay the tax on the materials and labor, well somebody did at least.troyguitar wrote: ↑Tue Feb 14, 2017 3:02 pmBecause buying a hotel should be tax-free but buying a Barbie Hotel should be taxed?
Buying stocks should be tax-free but buying socks should be taxed?
Fair Tax would be fair if it applied to EVERY PURCHASE of any kind whether it's an airboat, a swamp, an oil future, or a blowjob. Consumption is consumption - limiting it to things that poor people buy is NOT fair.
True story, and there is no reason to make it more unfair for being successful. Progressive tax removes the incentive to advance on self IMHO.[user not found] wrote: ↑Tue Feb 14, 2017 2:59 pmFair and appropriate for the economic well being of the country are different things.Big Brain Bradley wrote:we disagree. the fair tax is, well fair.
Life isn't fair.
like i got NO interest in trying to ever start my own firm or something. fuck it. the government will take 75% and i'll be stressed to the max.
I can be mediocre in a decent jerb and take home half my income and have tons more free time.
brain go brrrrrr
- troyguitar
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Big Brain Bradley wrote: ↑Tue Feb 14, 2017 3:12 pmYes, the fair tax as proposed has some issues. But no, investments should not be taxed. used hotels already had the tax paid, so no. new hotels, you have pay the tax on the materials and labor, well somebody did at least.troyguitar wrote: ↑Tue Feb 14, 2017 3:02 pm
Because buying a hotel should be tax-free but buying a Barbie Hotel should be taxed?
Buying stocks should be tax-free but buying socks should be taxed?
Fair Tax would be fair if it applied to EVERY PURCHASE of any kind whether it's an airboat, a swamp, an oil future, or a blowjob. Consumption is consumption - limiting it to things that poor people buy is NOT fair.
True story, and there is no reason to make it more unfair for being successful. Progressive tax removes the incentive to advance on self IMHO.[user not found] wrote: ↑Tue Feb 14, 2017 2:59 pm
Fair and appropriate for the economic well being of the country are different things.
Life isn't fair.
like i got NO interest in trying to ever start my own firm or something. fuck it. the government will take 75% and i'll be stressed to the max.
I can be mediocre in a decent jerb and take home half my income and have tons more free time.
Why don't you quit your job and work at McDonald's then so you can pay zero tax and make "more" money?
Even when we had progressive shit hitting 90% people still always made more money from more income...
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Didn't think I was considered "Upper Middle Class", but I guess the math says I am.
Then again, people that don't know me see me with a motorcycle, truck, "Race car" as the kids say as they point, and a house and they assume I'm balling. I'm just good at paying off things, and zero kids =
One thing I hate about taxes is how things get taxed multiple times. Like my car. I had to pay close to 9% tax on my Z06. I was pissed because everything I read online was between 4-5%.
The taxes have already been paid on this damn thing, yet I've got to come up with about $1,800 just to throw it away to taxes when Paw Paw already paid the taxes worth $50k for when it was brand new.
Then again, people that don't know me see me with a motorcycle, truck, "Race car" as the kids say as they point, and a house and they assume I'm balling. I'm just good at paying off things, and zero kids =
One thing I hate about taxes is how things get taxed multiple times. Like my car. I had to pay close to 9% tax on my Z06. I was pissed because everything I read online was between 4-5%.
The taxes have already been paid on this damn thing, yet I've got to come up with about $1,800 just to throw it away to taxes when Paw Paw already paid the taxes worth $50k for when it was brand new.
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its right?Acid666 wrote: ↑Tue Feb 14, 2017 3:34 pm Didn't think I was considered "Upper Middle Class", but I guess the math says I am.
Then again, people that don't know me see me with a motorcycle, truck, "Race car" as the kids say as they point, and a house and they assume I'm balling. I'm just good at paying off things, and zero kids =
One thing I hate about taxes is how things get taxed multiple times. Like my car. I had to pay close to 9% tax on my Z06. I was pissed because everything I read online was between 4-5%.
The taxes have already been paid on this damn thing, yet I've got to come up with about $1,800 just to throw it away to taxes when Paw Paw already paid the taxes worth $50k for when it was brand new.
my favorite is when you move, in many states you have to pay tax on the book value.
motherfucker, i already paid that!
brain go brrrrrr
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troyguitar wrote: ↑Tue Feb 14, 2017 2:29 pm I don't actually mind the "high" tax rates so much except for 2 things:
First: The funds always seem to be spent in a shitty manner which is - but I am not convinced that the private sector does any better with its spending. CEO's getting paid millions while employees get $2/month in Malaysia and all that BS is no better than .gov fucks spending 80% of the year on vacation. I've no solution for this but it still bugs me.
Second: Beyond a certain point, rich people and corporations (because corporations are people...) start paying less and less as an effective rate. That's not how progressive taxes are supposed to work. This one is easy to solve. Keep the same progressive bracket structure and apply it to ALL income from any source whether it's personal or corporate, "ordinary" or "capital gains" etc. No deductions of any kind for any reason, period. Adjust the details of the brackets to meet revenue targets, done.
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We pay tax on used car transactions, but you get taxed on whatever is written down as the sell price on the title. If we paid book value I'dBig Brain Bradley wrote: ↑Tue Feb 14, 2017 3:45 pmits right?Acid666 wrote: ↑Tue Feb 14, 2017 3:34 pm Didn't think I was considered "Upper Middle Class", but I guess the math says I am.
Then again, people that don't know me see me with a motorcycle, truck, "Race car" as the kids say as they point, and a house and they assume I'm balling. I'm just good at paying off things, and zero kids =
One thing I hate about taxes is how things get taxed multiple times. Like my car. I had to pay close to 9% tax on my Z06. I was pissed because everything I read online was between 4-5%.
The taxes have already been paid on this damn thing, yet I've got to come up with about $1,800 just to throw it away to taxes when Paw Paw already paid the taxes worth $50k for when it was brand new.
my favorite is when you move, in many states you have to pay tax on the book value.
motherfucker, i already paid that!
As the only published author in a well-known motorcycle publication in the room...