What is the average overall tax rate?

[WTF]

The Motely Fool has it at almost 30%.

I read a study that put it at around 40%.

Many of you will not understand this as you seem to only focus on Federal Income Tax.


https://www.fool.com/retirement/2017...-tax-rate.aspx



.

[Jackie S]

My affective Federal Income Tax Rate n 2018 is 29%. I just did my taxes, and it's down from 32% in previous years due to the tax break. So when you add in everything from property tax to sales tax, I agree it's close to 35%. The percentage is lower for someone in my income bracket than someone in a lower bracket because I pay the same tax on a loaf of bread as a person on minimum wage.

I look for the Liberal/Socialist to soon say those better off should pay more in local taxes for basic consumer goods.

[WTF]

Originally Posted by Jackie S

My affective Federal Income Tax Rate n 2018 is 29%. I just did my taxes, and it's down from 32% in previous years due to the tax break. So when you add in everything from property tax to sales tax, I agree it's close to 35%. The percentage is lower for someone in my income bracket than someone in a lower bracket because I pay the same tax on a loaf of bread as a person on minimum wage.

I look for the Liberal/Socialist to soon say those better off should pay more in local taxes for basic consumer goods.

I just hope the liberal/socialist in the GOP quits giving money to Defense Industry cronyism

[Yssup Rider]

Originally Posted by Jackie S

My affective Federal Income Tax Rate n 2018 is 29%. I just did my taxes, and it's down from 32% in previous years due to the tax break. So when you add in everything from property tax to sales tax, I agree it's close to 35%. The percentage is lower for someone in my income bracket than someone in a lower bracket because I pay the same tax on a loaf of bread as a person on minimum wage.

I look for the Liberal/Socialist to soon say those better off should pay more in local taxes for basic consumer goods.

Why on earth would that make any sense at all?

How would such a thing even work, Jackie?

I look for lightening bolts to shoot out of my dick but know it’s an utterly absurd idea.

But you never know.

[bb1961]

That would be like the taxation of all internet purchases and keeping up with the different tax rates on all purchases.

[WTF]

Originally Posted by bb1961

That would be like the taxation of all internet purchases and keeping up with the different tax rates on all purchases.

Well we do know that sales taxes are regressive. ..so when you and others say certain segments of society pay no taxes...you are incorrect.

The better off pay the majority of their taxes via progressive tax...the federal income tax and the less fortunate pay taxes via regressive taxes.

It is misleading to say the less fortunate pay no taxes.

Our system is set up to tax both segments. ..albeit differently.

[Jackie S]

Originally Posted by WTF

Well we do know that sales taxes are regressive. ..so when you and others say certain segments of society pay no taxes...you are incorrect.

The better off pay the majority of their taxes via progressive tax...the federal income tax and the less fortunate pay taxes via regressive taxes.

It is misleading to say the less fortunate pay no taxes.

Our system is set up to tax both segments. ..albeit differently.

The Federal Government tried to rectify some of this a few decades ago by introducing the “luxury tax”, the idea being upper income people by more expensive things gs, so it would be easier to just declare what those things were and charge accordingly.

It went over like a lead balloon.

I agree that items such as sales tax, toll road fees, property tax, etc do hurt poor people more than those well off. If I go to Kroger and by $200 worth of groceries, the tax I pay is such a small part of my income that I hardly notice.

But to a poor family, that tax represents a much greater percentage of income.

I today’s modern computerized world, if the Government wanted, they could impose a graduated tax on purchases. The problem is identifying those that are standing in line at Kroger as being “wealthy”.

A chip in ones arm would be the Governments solution. The checkout scanner would identify this chip and adjust the tax rate accordingly on each purchase.

Now, that sounds like something straight out of 1984. But don’t think the Government wouldn’t do it if they thought they could.

My question is how many of all of the followers of AOC, Bernie Sanders and their Ilk would think this is a great idea? It wasn’t but a few years ago when the thought that 51% of Americans believed Socialism was a good thing would be unheard of.

[themystic]

Originally Posted by Jackie S

The Federal Government tried to rectify some of this a few decades ago by introducing the “luxury tax”, the idea being upper income people by more expensive things gs, so it would be easier to just declare what those things were and charge accordingly.

It went over like a lead balloon.

I agree that items such as sales tax, toll road fees, property tax, etc do hurt poor people more than those well off. If I go to Kroger and by $200 worth of groceries, the tax I pay is such a small part of my income that I hardly notice.

But to a poor family, that tax represents a much greater percentage of income.

I today’s modern computerized world, if the Government wanted, they could impose a graduated tax on purchases. The problem is identifying those that are standing in line at Kroger as being “wealthy”.

A chip in ones arm would be the Governments solution. The checkout scanner would identify this chip and adjust the tax rate accordingly on each purchase.

Now, that sounds like something straight out of 1984. But don’t think the Government wouldn’t do it if they thought they could.

My question is how many of all of the followers of AOC, Bernie Sanders and their Ilk would think this is a great idea? It wasn’t but a few years ago when the thought that 51% of Americans believed Socialism was a good thing would be unheard of.

damn Jackie you actually showed some heart for a change. 51% of Americans don't think socialism is a good thing for the USA. 59% of Americans think trump is the wrong guy. big difference

[slim deez]

Originally Posted by WTF

I just hope the liberal/socialist in the GOP quits giving money to Defense Industry cronyism

The GOP is relevant as Megalodon. Eliminate the National debt and the Socialists will vanish.

[bb1961]

The problem is those that pay no income tax can vote for those in favor of larger and more intrusive Gumment.
The vast majority love things they don't have to pay for....Obummercare!! The UNaca costs this country BIG TIME!! I know I'm paying more then EVER!!https://www.bloomberg.com/news/artic...alth-insurancehttps://www.forbes.com/sites/johnmau.../#59cb594015f9

[oeb11]

Originally Posted by Jackie S

The Federal Government tried to rectify some of this a few decades ago by introducing the “luxury tax”, the idea being upper income people by more expensive things gs, so it would be easier to just declare what those things were and charge accordingly.

It went over like a lead balloon.

I agree that items such as sales tax, toll road fees, property tax, etc do hurt poor people more than those well off. If I go to Kroger and by $200 worth of groceries, the tax I pay is such a small part of my income that I hardly notice.

But to a poor family, that tax represents a much greater percentage of income.

I today’s modern computerized world, if the Government wanted, they could impose a graduated tax on purchases. The problem is identifying those that are standing in line at Kroger as being “wealthy”.

A chip in ones arm would be the Governments solution. The checkout scanner would identify this chip and adjust the tax rate accordingly on each purchase.

Now, that sounds like something straight out of 1984. But don’t think the Government wouldn’t do it if they thought they could.

My question is how many of all of the followers of AOC, Bernie Sanders and their Ilk would think this is a great idea? It wasn’t but a few years ago when the thought that 51% of Americans believed Socialism was a good thing would be unheard of.

Chipping the population is a DPST objective.
Part of totalitarian control over the people.

you bet they are considering when to move on it - but will lie about it for now.

[WTF]

Originally Posted by bb1961

The problem is those that pay no income tax can vote for those in favor of larger and more intrusive Gumment.
The vast majority love things they don't have to pay for....Obummercare!! The UNaca costs this country BIG TIME!! I know I'm paying more then EVER!!https://www.bloomberg.com/news/artic...alth-insurancehttps://www.forbes.com/sites/johnmau.../#59cb594015f9

Can you not read?
The total tax rate paid for both rich and poor is around 30-40%. That means the poor through regressive taxes pay a similar amount % wise in taxes as the rich.

Which means your post does not have a fucking thing to do with the topic.

Jesus

[bb1961]

Originally Posted by WTF

Can you not read?
The total tax rate paid for both rich and poor is around 30-40%. That means the poor through regressive taxes pay a similar amount % wise in taxes as the rich.

Which means your post does not have a fucking thing to do with the topic.

Jesus

The poor pay no fucking income tax...get that through your head...if anything they get EIC!!
I don't know where you get your nonexistence figures...LIARS figure but figures DON"T LIE!!
I"m not going to let you spew this NONSENSE!!

https://nypost.com/2017/04/18/almost...al-income-tax/

[bambino]

Originally Posted by bb1961

The poor pay no fucking income tax...get that through your head...if anything they get EIC!!
I don't know where you get your nonexistence figures...LIARS figure but figures DON"T LIE!!
I"m not going to let you spew this NONSENSE!!

https://nypost.com/2017/04/18/almost...al-income-tax/

His thread title says it all. There isn’t one tax rate. It’s different depending on your productivity. There isn’t an overall average tax rate.

[WTF]

Originally Posted by bb1961

The poor pay no fucking income tax...get that through your head...if anything they get EIC!!
I don't know where you get your nonexistence figures...LIARS figure but figures DON"T LIE!!
I"m not going to let you spew this NONSENSE!!

https://nypost.com/2017/04/18/almost...al-income-tax/

You need to not only get someone to read these posts for you but to explain what is meant...