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

[Jaylock]

Do you believe that if someone is making over 100k a year, they should be forced to pay 50k of it in taxes to the Govt?

If you believe this way, why?

I certainly do not believe this way. If someone earns 100k a year or more, good for them. They deserve it.

BTW, LOVE the new Trump Tax Plan.

[Khuros]

BTW, LOVE the new Trump Tax Plan.

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

[Kujako]

BTW, LOVE the new Trump Tax Plan.

Yes, but you also clearly don't understand how tax brackets work. And I'm guessing you're not rich, so you also don't understand how the Trump Tax Plan will negatively effect you, or perhaps getting beaten up by rich old white guys is your kink... no judgement.

[Cæli]

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

[Heladys]

If you believe that you need a trillion dollars a year spent on military, then yes.

[Jaylock]

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

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?

[WernerCD]

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

We have a debt problem because we have a spending problem... not because we have a too little tax problem.

Too many promises for too many people to get votes by politicians that only think about the next 2-4 years. Too many programs that shouldn't be, redundancy and mountains of regulations that cost time and money. To much world policing and intervention.

[callipygoustp]

I'm not intending to sound flippant, but, is 100k considered a lot of money these days?

[Jaylock]

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

But honestly, who are you to say that someones earned money is too much or too little? What if they desire a lifestyle that requires large amounts of money? Are you really telling someone that they should not live the lifestyle they desire just because you feel that its too much money for one to have?

Isn't that the definition of oppressive forms of rule? Imperialistic rule? Democratic and free-market economies dictate that there is no limit to the amount of wealth one can acquire. Thats the beauty of the system. You can make as much as you want to make, but if the government is going to stifle that with high tax rates, then there really is no incentive to be entrepenural and to create wealth.

[God Save The King]

Assuming you're a single filer in the USA, a 100k income will cost you $20,981.75 a year in federal taxes. If you live in a state with income tax, that is your decision. At 100k income you could easily live in a state without income tax. Also, the effective federal tax rate for 100k (as of 2010) is 15.6% because of various deductions/credits you naturally earn. So in reality you'll pay closer to 15.5k.

If you make around 40k, you're paying a few % in effective tax. If you make slightly above the poverty line, it's like 1.5%.

That's fine.

50k is not fine, but literally no one pays that unless it's purely out of charity to the government.

[Jaylock]

I'm not intending to sound flippant, but, is 100k considered a lot of money these days?

Its really not a lot, but the left ideology is to penalize people the more they make in "fairness" to others that don't make that much. Its not fair, its down right unethical to take excessive amounts of peoples hard earned money just because one or a group of people think its too much.

[jackofwind]

I'm not intending to sound flippant, but, is 100k considered a lot of money these days?

No, it isn't. OP is just hyperbolizing.

[NoRest4Wicked]

It's pretty easy to bring 100k down to the 75k 15% tax bracket (married/joint filing), no biggie.

[jackofwind]

Its really not a lot, but the left ideology is to penalize people the more they make in "fairness" to others that don't make that much. Its not fair, its down right unethical to take excessive amounts of peoples hard earned money just because one or a group of people think its too much.

That's a pretty good synopsis of your personal opinion.

Unless by "the left" you mean actual socialists and communists, which America hasn't ever even had a sniff of.

[Dug]

Well let's do some basic math here. 50% of 100k is 50k. You're left with 50k dollars. 50% of 1 billion is 500 million dollars... and you're left with 500 million dollars... woe is you

[Tennis]

I'm not intending to sound flippant, but, is 100k considered a lot of money these days?

Lol. How much you making bud?

Also @Jayburner is off here. The tax rate isn't that high.

[Deleted]

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 like how this thread went from private taxes to corporate taxes in a single post.

Anyways just a simple counter to your argument: if companies are 100% flexible and will always move towards the country with the lowest tax rates, a race to the bottom will occur where countries keep lowering their tax rates untill everyone is on single digit percentages and have a huge spending deficit (which the trump taxes will certainly incur).

Since in reality companies arn't 100% flexible, instead they hire tax lawyers who specialise in tax codes in multiple countries and therefore try to shift as much money around as possible to the countries with the lowest rates. This is called tax optimisation. This is the process that you want to stop, since it causes that race to the bottom.

On the original topic:

I think paying 50% in taxes on 100k is a bit overkill, personally the Netherlands has a system with tax brackets (fairly sure the US has as well), so you pay a lower percentage over the first 20k than the second 20k etc. Overall I am in favor of a tax rate of ~50% of any money earned over ~70k though.

[Damajin]

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

That's my business what I do with it.

It's others business to increase their own gains, not be carried on my back.

Your whole if you manage to get too much money and keep it you'll hurt the economy and other people shit is insane.

[Adam Jensen]

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?

If this was true, how come it's never happened? How come we aren't swimming in jobs every time someone cuts taxes for the rich? How come all that ever happens is the wealth gap between the middle and upper class?

[GodlyBob]

If a person making $20k a year spends 90% of his income on basic necessities (food/shelter) and somebody making $100k a year spends 30% of income in the same necessities, why should the poor people pay the same percentage in taxes when they are more dependent on whatever's left on a regular basis?