A fair amount of taxes

Discussion in 'Politics' started by Salty, Jun 10, 2010.

?

What is the most that should be deducted for Federal Income tax

  1. No more than 5 %

    3 vote(s)
    13.6%
  2. No more than 10 %

    5 vote(s)
    22.7%
  3. No more than 15 %

    2 vote(s)
    9.1%
  4. No more than 25 %

    2 vote(s)
    9.1%
  5. No more than 30 %

    1 vote(s)
    4.5%
  6. No more than 45 %

    0 vote(s)
    0.0%
  7. No more than 50 %

    1 vote(s)
    4.5%
  8. The current tax table should remain (more income - more tax %)

    2 vote(s)
    9.1%
  9. All should pay the same tax rate

    6 vote(s)
    27.3%
  10. Other answer

    5 vote(s)
    22.7%
Multiple votes are allowed.
  1. Salty

    Salty
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    What is the most that should be taken out on taxes from an individual?
     
  2. ReformedBaptist

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    None. Federal taxes should be repealed.
     
  3. Salty

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    You are already off the OP!
    The US has to raise $ somehow, whether it is income tax, VAT, ect,
    So Please if you are agains the income tax, start another thread.
    Thanks, salty
     
  4. billwald

    billwald
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    You all understand the concept of marginal tax rate?
     
  5. Ruiz

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    I do not think this can be answered. From an economics point of view, a percentage is not the best way to judge how much you should spend or not spend... etc... There is such thing as elasticity, thus in a booming economy a higher rate of taxes could be withstood with few problems to the economy. In a Bearish economy even a slightly higher interest rate could cause great problems. There are many other issues at stake, but to put a definite percentage is not always wise.

    Thus, I cannot choose an option. I do not believe percentage is a Biblical issue but an economic issue.

    However, I agree with the previous poster's comments that we should get rid of the income tax. Ultimately, our system punishes savings, which is necessary in a down economy to spur economic growth. I would be for a type of consumption tax as this rewards savings and would be most beneficial to helping a down economy but would flourish the most in an up economy.
     
  6. preachinjesus

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    Less than 10% for Federal Government...and it should be 10% across the board except for individuals making less than the poverty line and they shouldn't have to pay taxes.

    This is one way to reduce the size of the government, cut off its food and the patient will become lean again. Its time to put the Federal government on Jenny Craig!
     
  7. Salty

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    I think everyone agrees with you PiJ, execpt, of couse, for THEIR PERSONAL PET PEEVE PORK
     
  8. rbell

    rbell
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    I asked Ray Stevens...Here's his response:

    Now I'd just like to say a few words about taxes...

    I pay another man to do my taxes
    On account of that's just one more deduction I can take
    But you know the mailman brought my W-2 this morning
    Yeah and this year they're taking a third of all I make.

    Now I'm just as patriotic as the next man
    And you know I love that Red White and Blue
    So I'm gonna help to pay this rising cost of freedom
    But I'll be danged if I'm gonna change my point of view.

    Cuz every time the bureaucrats run out of money
    Congress socks it to the working man
    And I don't think it's one bit funny
    How they take so much of my money
    And do things with it I don't understand.

    I don't know why they think they've got to squeeze us
    But I'll tell you just exactly where I stand
    I believe if ten percent is good enough for Jesus
    Well it oughta be enough for Uncle Sam.

    Now some of these folks that we've been sending off to Congress
    Think that all they've got to do - just spend and spend
    But you know you can't run a family much less a country
    With more money going out than coming in.

    Yeah and that old debt just keeps on getting bigger
    And we all gonna have to pay so don't you laugh
    Cuz pretty soon we might just look down at our paychecks
    And figure out that they done started taking HALF!

    Cuz every time the bureaucrats run out of money
    Congress socks it to the working man
    And I don't think it's one bit funny
    How they take so much of my money
    And do things with it I don't understand.

    I don't know why they think they've got to squeeze us
    But I'll tell you just exactly where I stand
    I believe if ten percent is good enough for Jesus
    Well it oughta be enough for Uncle Sam.
     
  9. blackbird

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    Ummmmm-Salty----me thinks Reformed misquoted his quote---instead of saying that fed taxes wouldn be repealed---what he really meant to say is fed taxes should be repeated!!!!:laugh: Uncle Sam would love to repeatedly dig in to reformed's pockets for MORE taxes!!!

    Just a joke there Reformed----just a joke!!!:wavey:
     
  10. saturneptune

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    This is just my opinion, but I think federal revenue should be raised by a national sales tax exempting on what would have to be an agreed upon basic living catagory, food, essential utilities and the like. There would be no income tax, or tax on savings or captial gains. My second choice would be a flat tax with again an exemption for basic living. On the 1040, you would put down your income, subtract the exemption, multiply by whatever percent is common for all, and there is your tax. The immediate savings would be to eliminate 90% of the IRS. Of course, it might put some companies out of business that either figure taxes for people or negotiate with the IRS on the behalf of an individual who owes lots of back taxes.
     
    #10 saturneptune, Jun 11, 2010
    Last edited by a moderator: Jun 11, 2010
  11. Thinkingstuff

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    The government should take 100% in taxes and distribute it for its citizens as it sees fit. :laugh:
     
  12. HankD

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    0%

    HankD
     
  13. Winman

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    I agree with rbell and that song by Ray Stevens, 10%. We can't have zero tax, the government does provide essential services such as defense and our judicial system to protect the citizens.

    What government seems incapable of understanding is that less tax actually generates more tax revenue. The more people have control of their own money, the more they invest producing employment which produces more tax revenue.
     
  14. billwald

    billwald
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    In my entire working life of 40 years we managed to pay the bills, tithe my church, and end up with about $100K in deferred comp and a paid off house in a blue collar neighborhood. That's a net available cash savings and investments of $3,000/year average.
    Have any of you over 50 years old managed to do much better or much worse? I think national statistics indicates that most retired people have much less than $50K liquid assets.

    I'm not bragging that I was smarter than the rest, I was a miser to the extent of being "penny wise, pound foolish."

    I'm trying to understand people who spend 40 hours a week or more working for 40 years, haven't done much better than I have, and still think that there is no philosophical problem of social equity between themselves and those who have a $billion in invested assets.
     
  15. Paul3144

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    My 67-year old grandfather doesn't want to retire and he has a full time job and owns four rental houses and an IRA and a 401(k) because one day he might not be able to work anymore.
     
  16. blackbird

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    Well---that just settles it then!!!!

    SATURNEPTUNE FOR PRESIDENT!!!!!!
     
  17. billwald

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    >My 67-year old grandfather doesn't want to retire and he has a full time job and owns four rental houses and an IRA and a 401(k) because one day he might not be able to work anymore.

    Some people die when they are forced to retire.

    Some people think their place of employment needs them. Two months after they are gone it is "Joe who?"
     
  18. ReformedBaptist

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    You allowed for "other answer." make better polls. :tonofbricks:
     
  19. Salty

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    I say everyone should pay the same tax rate on all electronic transactions - and do away with all other taxes - period. That tax rate should not exceede 1/2 of 1 %
     
  20. Paul3144

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    Then people would pay cash for everything.
     

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