Bill: No snacks for food stamp users

[Foxrac]

I don't know what you consider to be a "loophole" but I pay whatever taxes are legally required. I don't like it but I don't try to sneak out of anything. Each time I get a paycheck, I send in 1/3 of it to the US Treasury. In addition to that, I pay state income tax, property tax, personal property tax, gas tax, and sales taxes.

All in combination, it means take more than 1/2 of your checks?

 

[Reba]

All in combination, it means take more than 1/2 of your checks?

Not quite; closer to 40%. The other taxes are lower percentages than the Federal income tax.

 

[Foxrac]

Not quite; closer to 40%. The other taxes are lower percentages than the Federal income tax.

Ok, you should glad that you don't live in northern or midwestern states that where property tax is much higher, it could make beyond 50% and it sounds like painful.

Yup, federal income tax is one of highest rate and back in early 1910's, federal income tax was around 7% maximum but went SHOT higher in several years later.

Will you feel better if federal income tax was less than 6% maximum?

 

[Reba]

...Will you feel better if federal income tax was less than 6% maximum?

That would be less painful but I don't expect that to happen either.

 

[Foxrac]

That would be less painful but I don't expect that to happen either.

Yup, me either.

Hate to say, politicians NEVER become tame and they care about money goes to government as debt goes up all time.

That why I said any tax reforms are not going happen until massive political changes.

 

[SteveMcGarrett]

The Rich paid their fair share back in the 50s. Thats how Ron Howard decribed it

Filmmaker Ron Howard calls 90 percent tax era one of 'nostalgia'

Back in the 50s the Middle class paid a measley 15% to the I.R.S the same that Mitt Romney pays for his.

 

[Foxrac]

I found interesting about Fair Tax will benefit GLBT communities since current tax system isn't.
Queercents » FairTax: is it important to LGBT community?

 

[SteveMcGarrett]

I Support Gingrich Flat Tax ideas
A closer look at Gingrich’s ‘flat tax’ plan - The Washington Post

15% Just like it used to be back in the 50s

 

[Foxrac]

I Support Gingrich Flat Tax ideas
A closer look at Gingrich’s ‘flat tax’ plan - The Washington Post

15% Just like it used to be back in the 50s

Flat tax is just nothing but more insolvent to our country debt and more deficit.

It means we need abolish the SS to make tax rate at 15% for everyone and time for you to find a job to replace the SSDI.

No idea about fair tax but it will depends on customer spending and if spending is much higher, especially on new goods so it is possible to become solvent.

FYI, you are wrong about 1950's and income tax is MUCH higher than today.

 

[SteveMcGarrett]

FYI, you are wrong about 1950's and income tax is MUCH higher than today.

Thats correct,,But only for the wealthy. Did you read the Ron Howard what he said about the 50s?
Filmmaker Ron Howard calls 90 percent tax era one of 'nostalgia'