Paying Less at the Top

[Mr. Big Dog 10,747]

Because once you go beyond a certain income level, state and local taxes are peanuts compared to federal taxes, even in a high tax state like New York.

Right, so those are regressive. The only thing that offsets the largely regressive nature of America's tax systems - i.e. state and local as well as federal taxes aside from the federal income tax - is the somewhat progressive federal income tax. With that, each income group pays taxes roughly proportionately to their income. That makes the US tax system in it's entirety fairly flat.

[mawilson 2,133]

No, we need to make sure that earned income is taxed heavy and passive income is left alone. Where would this country be if actual work was rewarded?

Putting your hard-earned wealth into another person's business brings tax relief because it's a risky decision - that risk has to be rewarded with higher returns.

[Mr. Big Dog 10,747]

Putting your hard-earned wealth into another person's business brings tax relief because it's a risky decision - that risk has to be rewarded with higher returns.

And it is. But whatever that return may be, it's income and should be subject to tax just as any other income. If you don't like that, put the wealth into your own business.

[mawilson 2,133]

And it is. But whatever that return may be, it's income and should be subject to tax just as any other income.

Why? To give the government more money to waste? Thanks, I'd rather keep the money.

[Mr. Big Dog 10,747]

Why? To give the government more money to waste? Thanks, I'd rather keep the money.

So would I but since I have to actually work for my money, I don't seem to have that option. All I am saying is that income is income is income. Earned income should not be treated less preferential than passive income - that makes no sense at all. Treat it all the same and rather than giving the government more money, tax rates could come down on the vast majority of Americans.

[james&olya 1,121]

Because once you go beyond a certain income level, state and local taxes are peanuts compared to federal taxes, even in a high tax state like New York.

The very fact that they are 'peanuts' is what makes it so relevant!!!

[james&olya 1,121]

Why? To give the government more money to waste? Thanks, I'd rather keep the money.

Why do you hate our country and its government so much? Are you opposed to our military, to local police forces, to our judicial system, to support for health care and dignified retirement? What is it that makes you feel we should not have government? Or do you like it but just feel that you are special and should not have to pay your fair share?

[unlockingsky 94]

all i know is that i am very poor and being oppress by the rich and powerful.

[I AM NOT THAT GUY 5,715]

all i know is that i am very poor and being oppress by the rich and powerful.

How are they oppressing you? Are they making you pick cotton, or build pyramids?

[Mr. Big Dog 10,747]

How are they oppressing you? Are they making you pick cotton, or build pyramids?

Give it time.

[one...two...tree 2,762]

Profit sharing for the common worker is nearly nonexistent in the modern corporate world without unions.

[Darnell 8,479]

So this is a push to raise capitol gains taxes. Go ahead, do it, I dare you. Wait until those statistics are pushed out. Maybe finally this discussion will be over.

Well, that would suck much if that happened - I get about 72 to 75 percent of my income with capita/ol gains.

[mawilson 2,133]

Why do you hate our country and its government so much? Only the federal government, because it has grown completely out of control. The United States was never supposed to have an all-encompassing, overreaching central government. Almost everything they do should be done at the state and local levels. Ironically, what they *are* supposed to do (e.g. immigration control), they are not doing. Are you opposed to our military (yes, with its current cost and size), to local police forces (no, but federal tax dollars are not paying for *local* police forces), to our judicial system (no), to support for health care (yes, it's not a legitimate function of the federal government to provide health care services) and dignified retirement (yes, it's not a legitimate function of the federal government to pay for retirement, pay people's rent or take care of people's individual needs.)? What is it that makes you feel we should not have government? Your premise is incorrect, I do not feel we should not have government. My only problem is its size and scope.? Or do you like it but just feel that you are special and should not have to pay your fair share? I pay a lot, probably more than you as a share of my income. Whether or not it's "fair" is debatable.

See my comments above in red.

The very fact that they are 'peanuts' is what makes it so relevant!!!

I'll be happy to make 10 percent more in state and local taxes if my federal tax liability is reduced by 10 percent.

So would I but since I have to actually work for my money, I don't seem to have that option.

You do have that option. You can open a brokerage account, invest in dividend-yielding securities and pay the lower rate.

[I AM NOT THAT GUY 5,715]

Profit sharing for the common worker is nearly nonexistent in the modern corporate world without unions.

Wife has profit sharing working for a large non-union major corporation.

[I AM NOT THAT GUY 5,715]

Other friends I know working for union shops see that the first deduction on their paycheck is for union dues. In this economy, where some folks can only get part time work, that really sucks.