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View Diary: Us vs. Them Taxes (13 comments)

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  •  I would prefer that nobody pays taxes on the first (1+ / 0-)
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    Kvetchnrelease

    $50K of income. It takes that much at the present time to be able to live a decent life, whether single or married. Then progressive tax brackets with the final tax rate at 93% for income of over $50 million per annum. I figure if a person needs $50 million a year to live, it is beyond ludicrous.

    Poverty and Income Inequality isn't Democratic, Justice or American. It is Tyranny.

    by Wendys Wink on Sat Jan 05, 2013 at 05:36:52 AM PST

    •  More like $200K to live a decent life, not $50K. (1+ / 0-)
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      Wendys Wink

       Even today if you make $100K your Effective tax rate for a family of 4 with two kids in college is about 5% or 5% too much. Since "payroll taxes" are basically pension payments and not really taxes, they should not be changed. But that 5% is still too much to live a decent life especially in NY or SANFRAN or DC, so there is no need to have taxes on anyone making less than $200K. The pursuit of happiness, aka, decent life, is of course precidented on how much money you have. Everyone should watch happy movie.
      http://www.thehappymovie.com/

      "If the past sits in judgment on the present, the future will be lost." Winston Churchill

      by Kvetchnrelease on Sat Jan 05, 2013 at 06:01:40 AM PST

      [ Parent ]

      •  I couldn't conceive of having a $250K salary. Yes, (0+ / 0-)

        that would provide a very decent life. But, to low wage earners and the poor, look at $250K as being very, very rich, when taken from their perspective of life. Perhaps $50K should be the minimum income for people in todays world of income inequality.

        Poverty and Income Inequality isn't Democratic, Justice or American. It is Tyranny.

        by Wendys Wink on Sat Jan 05, 2013 at 06:47:41 AM PST

        [ Parent ]

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