Do you BELIEVE that someone making 100k a year needs to pay at least 50k in taxes?

[Unholyground]

I make 26k a year and I do fine and own a big house. Go Canada!

[Spectral]

I think starting with some "fair" tax rate is working in the wrong direction. Instead, I'd prefer to determine what I think is the appropriate amount of government spending and work backwards to determine how much money needs to be raised via taxes. Whether that's raised through income taxes, how progressive they are, whether there's a VAT, what gets deducted - all of those sorts of things impact the headline number greatly without really saying much about what the effective tax rate is.

I think there's far too much of people going based on their gut feelings about what people "deserve" to pay or get paid.

[Kryos]

If everybody get a similar tax and in return you get free (free as in you don't have to pay a single extra dollar) education for your kids, free healthcare, free social security if lose your job, support for basic research science, free and modern infrastructure, then I'm all for it. That's why I love living in Germany.

[Baelic]

Here, let's look at how much you'd pay both Provincially (BC) and Federally in Canada if your income was $100k/year. This is before any deductions or refunds are applied, cause I don't have the time or the patience to navigate that shit. Amounts are shown for each bracket that is applicable.

Provincial
$0 to $38,898 5.06% $1,968.24
$38,898.01 to $77,797 7.70% $2,995.22
$77,797.01 to $89,320 10.50% $1,209.92
$89,320.01 to $108,460[capped at $100k] 12.29% $1,312.57
Over $108,460 14.70% N/A

Federal
$0 to $45,916 15% $6,887.40
$45,916 to $91,831 20.5% $9,412.58
$91,831 to $142,353 [Capped @ $100k] 26% $2,123.94
$142,353 to $202,800 29% N/A
Over $202,800 33% N/A

Grand Total: $25,909.87

Not even CLOSE to $50k in taxes, and we're otherwise doing fine. And that's before you factor in deductions, refunds, and other shit.

The part that bugs me the most about this experiment is that BCs tax brackets are skewed to the lower end.

[Contego]

'Mericans and your hate towards taxes... In Norway we basically got this level of taxes, and look how bad we are doing.

[ipaq]

Ya man! We have a huge debt problem. But lowering taxes with no way to fund it is a great way to fix everything! /s

Lowering rich ppl taxes. Your tax rate are staying the same.

[Klaiden Potugye]

No, people who make 20k a year do not drive a Lexus. It's not a real thing, but changing a Lincoln to a Lexus, in Reagan's "welfare queen". It wasn't real then, it's not real now. It's a faux representation of poor people, so you can easier denigrate them.

By the way, as a NYer, you pay a hell of a lot in federal taxes, than you receive back. So, while you bitch about 20k in a Lexus, the amount you lose in taxes to the same people who propagate the idea of a welfare queen, can afford a Lexus to quite a few NYers. This tax plan doesn't change that.

The Lexus part was an anecdote, which in America means a real thing. My coworker brother lives in "projects" and drives Lexus.

[Golden Yak]

You can afford it.

[Deleted]

well 100k a year is not that huge
above 250k, now it start to be unnecessary

like, what will you do of all that money anyway ? some other could benefit more from it, like if you manage to get too much money and you keep it, it WILL hurt the economy and indirectly the life of other people

So lets play devils advocate here.

Those jobs are generally more stressful or require alot of training. The higher salary is meant to respect that as very few people are able to do it.

The tone of your post indicates that you don't think they deserve it / need it? They could live in an upper class area etc which means higher prices.

[Klaiden Potugye]

'Mericans and your hate towards taxes... In Norway we basically got this level of taxes, and look how bad we are doing.

What to compare? You are bloody Dubai of the North. The oil is the only thing you produce. Your fish is poisoned, your summer vacation houses work for a whooping 15 days a year.

You hit the oil card, just like Gulf people, you don't amount to much otherwise - why to compare?

[Baelic]

What to compare? You are bloody Dubai of the North. The oil is the only thing you produce. Your fish is poisoned, your summer vacation houses work for a whooping 15 days a year.

You hit the oil card, just like Gulf people, you don't amount to much otherwise - why to compare?

U just mad cause of their super oil swagger~

[Themius]

I know it's long but try reading previous posts before : P don't deny the fact that some people are dying because of poverty. I'm someone who sees persons wasting luxury food while some others are dying of famine. who am I ? ah.

I bought a $1300 watch a couple weeks ago, oh my I'm so wasteful and random poor people are starving and dying around the world, I'm a bad man now apparenlty.

Why does it matter what I do with my money?

[Spectral]

I bought a $1300 watch a couple weeks ago, oh my I'm so wasteful and random poor people are starving and dying around the world, I'm a bad man now apparenlty.

Why does it matter what I do with my money?

Personally if I was going to pony up $1300 for a watch, I'd go a couple grand higher and get a Speedmaster, but to each their own

That this upsets people that think anyone who likes luxury goods is outright evil is really neither here nor there to me.

[Occam-OC]

As someone who makes a little over 100k, I do not pay 50k in taxes. Where are you getting these numbers from?

[VooDsXo]

Do you realize corporations move and operate in other countries for the primary reason that their tax codes are much more favorable for business environments?

Do you realize that if you cut corporate and small business tax rates, they can reinvest that money in the economy thus creating more jobs and increasing income across the board? Thus, more taxes are paid. This is a blatantly obvious side effect of lowering taxes. More taxes will be paid because more money will be paid out to people in the form of jobs.

I honestly want to know, why is it that the liberal ideology when it comes to domestic taxing is to "tax the rich" at astronomical rates? How is that going to help the economy? Don't you realize that when businesses and individuals have to pay more of their earned money to the federal govt, they have to shelter the money they DO get to keep instead of reinvesting it?

Thats a great point, but they don't do that in our country. The larger businesses sit on money, its obvious when you can name 3 people who hold major corporations (Warren Buffet, Bill Gates, Elon Musk) that notably feed into the economy, and into charity. Trump doesn't even pay the contractors he uses "Bankruptcy" to eliminate any bills he has to pay. So while thats a great idea in your flawed head, it isn't relevant at all when our businesses dont give a fuck about anything but the money in their own pockets.

The origins of the big businesses are rolling over in their graves, we started out as a great country because we paid our workers properly, and in doing so we had the best of the best everything, then greed hit during the cold war era and now we're here w/ a wannabe Soviet President, who can't even buy himself a good wig...because he is that greedy he wont even spend it.

[Khuros]

On 16% percent of the budget? No the lazy people might need to get a job. Can't do that.

16%? What? The defense budget is 54% of the US budget. About 600B

[Themius]

Personally if I was going to pony up $1300 for a watch, I'd go a couple grand higher and get a Speedmaster, but to each their own

That this upsets people that think anyone who likes luxury goods is outright evil is really neither here nor there to me.

For now I just wanted a nice field watch lol. I kind of really want a grand seiko.

[AlphaOut]

as long as there is persons dying of poverty I don't see how you can say that you need more than 250k per year
I live well with less than 25k a year and I can guarantee that to live an healthy and interesting life you don't need more, so 10 times that is already way enough unless you throw your money in the trash which is a disrespect to persons dying of famine or poverty

I'm interested to see what kind of home you mortgage with less than 25k/yr.

[Spectral]

For now I just wanted a nice field watch lol. I kind of really want a grand seiko.

Well, clearly you haven't read important, luminary pieces like this one in Current Affairs:

But the central point I want to make here is that the moral duty becomes greater the more wealth you have. If you end up with a $50,000 a year or $100,000 a year salary, we can debate what amount you should spend on helping other people. But if you earn $250,000 or 1 million, it’s quite clear that the bulk of your income should be given away. You can live very comfortably on $100,000 or so and have luxury and indulgence, so anything beyond is almost indisputably indefensible.

I don't think people like this AQ Smith character realize how much they alienate normal people with this kind of rhetoric.

- - - Updated - - -

I'm interested to see what kind of home you mortgage with less than 25k/yr.

Hard to know without some contingencies, but if they also have a partner making the same amount, the math on living in a decent home gets a lot easier.

Even without a partner, a 30 year mortgage on a $100K house is $473. Granting that taxes, insurance and repairs tack on additional money, this still won't shake to a crazy amount. Here's a duplex in Buffalo, NY (referencing the city because I used to live there and know it's cheap) for that price where you'd be able to live in the upper, rent out the lower and basically break even.

It really depends where you live and what your tastes are.

[Rasulis]

Heh, what? I live in CA, make well over 100k, and everything comes out to about 33 - 35% a year.
This is from 14 years of experience in the work force

I hope this comment was sarcastic, otherwise tell your friend to get gud at teh maths, or hire someone to do their taxes better.

You are paying way too much. Need more deductions.