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Topic: What do you guys think about these tax percentages? (Read 9735 times)
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Zanthius
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I kinda think 90% taxes for the richest isn't so bad. If you earn more than 100 million USD a year, you still get more than 10 million USD...
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Scalare
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I think 60% or 65% is the most any person should pay. But this also goes for companies. I'm sorry for my country (the netherlands) that helps american evilcorps evade paying any taxes in the USA. Also, your system regardless of the percentages makes it really weird to pay taxes and I don't think it's in place anywhere. Because people going from any group to the next one will have to pay double the taxes. If you calculate it through a lot of people will forego wage increases at all.
For example you earn $60000 each year and pay 30% taxes because you're upper middle class.Leaving you with $42000 each year.
The $70000 mark makes you proceed to the rich class so when you get a wage increase to $70000 you pay 55% taxes, That leaves you $31500 each year. Meaning that because your boss payed you more you have to sell your house .
That's why most systems in place pay no tax over the first 'part' of your wage, and increasingly more over each next 'part'.
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« Last Edit: December 23, 2016, 11:42:51 pm by Scalare »
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Death 999
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We did. You did. Yes we can. No.
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Yeah, that.
To clarify the problem Scalare originally raised - it isn't that it wasn't curved. It's that the percent is calculated on the total rather than the marginal dollar. The marginal dollar is each dollar asit comes in. You tax each one as if it was the last.
So, for instance the rich people would earn their 'poorest' income at no taxes, then their 'poor' income at low taxes, their 'lower middle class' income at higher taxes, 'upper middle class' income at higher taxes, and the rest of the income that puts them in the rich range would be taxed at the 'rich' level.
You can fix it by just changing 'percentage of income paid in taxes' to 'marginal tax rates'
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Scalare
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Yeah, that.
To clarify the problem Scalare originally raised - it isn't that it wasn't curved. It's that the percent is calculated on the total rather than the marginal dollar. The marginal dollar is each dollar asit comes in. You tax each one as if it was the last.
So, for instance the rich people would earn their 'poorest' income at no taxes, then their 'poor' income at low taxes, their 'lower middle class' income at higher taxes, 'upper middle class' income at higher taxes, and the rest of the income that puts them in the rich range would be taxed at the 'rich' level.
You can fix it by just changing 'percentage of income paid in taxes' to 'marginal tax rates'
That's a different model altogether, not what he meant by having 90% at the richest level and the 100 / 10 million example he posed.
The model you propose is the one we have right now where I live.
This is what it's like for 2017.
1: until € 19.981 - 36,55% 2: from € 19.982 until € 33.790 - 40,8% 3: from € 33.791 until € 67.071 - 40,8% 4: from € 67.072 - 52% (that's french notation of numbers by the way. the reason why 2 and 3 are the same is because they use almost the same scale for people who are over legal retirement age (65 and 9 months), but they are taxed less in the 2nd bracket)
I earn around € 42.000 a year, so from income tax I have to pay € 16.276. Which is around 39% income tax. I believe the US system is the same, but with more brackets and less tax overall.
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« Last Edit: December 24, 2016, 02:14:00 am by Scalare »
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Zanthius
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I have made a new graph with more specified categories.
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