What is the average overall tax rate?

[SpeedRacerXXX]

Originally Posted by WTF

I say taxes are taxes but a small disagreement. Not really worth debating.

This to me is...
So what do you think about the Federal Deficit?

Are you ok with one generation passing off their excesses to the next?

I have no problem eliminating the gift and inheritance tax if the Federal deficit is close to zero.

I want people to feel the pain of say a war. I want their taxes to go up to pay for the war they want...not down and passed to the next generation.

Maybe that would lead to better educated voters. When their taxes go up because of their wants.

Personally I did not support the tax reform package. #1 it was a boon to the rich and corporations while the middle class and below got much less. I think corporations needed tax relief but not to the extent that they got. #2, then you factor in the impact to the federal deficit and the tax reform package becomes even less appealing.

But I do hope that when I leave this earth I will be able to pass along something to my kids that will be free from taxes. I paid taxes once when I made the money. The same income shouldn't be taxed a 2nd time.

[WTF]

Originally Posted by Jackie S

Tradition mostly.

I think that was basically the thought process on not letting women vote or interracial marriage...

But I would argue that in fact before WWII that was not the tradition.

[WTF]

Originally Posted by SpeedRacerXXX

But I do hope that when I leave this earth I will be able to pass along something to my kids that will be free from taxes. I paid taxes once when I made the money. The same income shouldn't be taxed a 2nd time.

You can gift them tax free up to 30k a year if you are married, 60k if they are married. I think that had a 1.2 million dollar cap.