Why cut taxes?

[cowboy]

From what I've been reading, I'm pretty much resigned to the idea that mine are going up even though my household of four already pays more than $20,000 a year in federal taxes. That doesn't exactly sound to me like nearly zero.

If you are paying that much, you are pulling down around $200k and in the top 5-10 percent of all earners. Your total rate was likely around 10% before deductions, which is where most flat-tax people want to be. You are also in the demographic that is getting hosed by the majority of the country. You and the people who earn more than you pay around 90% of the total income tax receipts, while the bottom 50th percentile pays 2.8%. This is why I think more people should pay - not an extravagant amount, but something that makes them stop and think when we talk about creating an entitlement or starting a war.

You are the "rich" in most people's minds, though you likely worked very hard to get to this point in your career. We want a system that gives people incentive to be you, not a reason to be jealous of you and make you pay "your fair share."

[BlueK]

If you are paying that much, you are pulling down around $200k and in the top 5-10 percent of all earners. Your total rate was likely around 10% before deductions, which is where most flat-tax people want to be. You are also in the demographic that is getting hosed by the majority of the country. You and the people who earn more than you pay around 90% of the total income tax receipts, while the bottom 50th percentile pays 2.8%. This is why I think more people should pay - not an extravagant amount, but something that makes them stop and think when we talk about creating an entitlement or starting a war.

You are the "rich" in most people's minds, though you likely worked very hard to get to this point in your career. We want a system that gives people incentive to be you, not a reason to be jealous of you and make you pay "your fair share."

It's not just me. It's also my wife. Double earners get slammed, which makes no sense either. Taxes in our case are a disincentive for both of us to continue to contribute our productivity to the economy. The entire system should be replaced by one in which people are taxed for what they consume in resources instead of what they produce.

[BlueK]

Cute how Trump can go in front of some of his cult following at a rally and lie that the tax bill is really bad for him. What a scumbag.

[cowboy]

It's not just me. It's also my wife. Double earners get slammed, which makes no sense either. Taxes in our case are a disincentive for both of us to contribute our productivity to the economy.

Precisely. That's why I hate it. We only get out of this mess by increasing our productivity, and disincentive to do so will only get us into bigger fiscal troubles.

BTW, I wasn't trying to imply that you alone earn that much and/or that you don't deserve it. On the contrary, I think it's good for both your household and the economy. Unfortunately, the populist side of America looks at any household living on more than $120k as rich elite who need to pay more. You can thank the Democrats for that, but a lot of trailer park Republicans buy into it, too.

[frank ryan]

Precisely. That's why I hate it. We only get out of this mess by increasing our productivity, and disincentive to do so will only get us into bigger fiscal troubles.

BTW, I wasn't trying to imply that you alone earn that much and/or that you don't deserve it. On the contrary, I think it's good for both your household and the economy. Unfortunately, the populist side of America looks at any household living on more than $120k as rich elite who need to pay more. You can thank the Democrats for that, but a lot of trailer park Republicans buy into it, too.

The other side of that coin is that a lot of Republicans look down on the poor or anyone who's used public assistance as lazy, a drain on society, and deserving of their circumstances. There's stereotypes galore on the issue of income.

[Uncle Ted]

The other side of that coin is that a lot of Republicans look down on the poor or anyone who's used public assistance as lazy, a drain on society, and deserving of their circumstances. There's stereotypes galore on the issue of income.

Sen. Rubio tells a secret: After giving a tax cut to the rich, GOP will cut Social Security and Medicare

Merry Christmas, Frank!

[Moliere]

Why cut taxes?

Sen. Rubio tells a secret: After giving a tax cut to the rich, GOP will cut Social Security and Medicare

Merry Christmas, Frank!

The only thing that’s new here is the explicit admission by a Republican officeholder that this is the GOP’s master plan to eviscerate the welfare and retirement of American workers

Wow. Love me some liberal fearmongering.

Ha, everyone should be in favor of structural changes to SS and Medicare. As people live and work longer due to advancements in technology and society, we shouldn’t be paying retired people from SS funds for 25+ years. Does anyone really think the retirement age shouldn’t creep up over the next decade or two?


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[Jeff Lebowski]

Wow. Love me some liberal fearmongering.

Ha, everyone should be in favor of structural changes to SS and Medicare. As people live and work longer due to advancements in technology and society, we shouldn’t be paying retired people from SS funds for 25+ years. Does anyone really think the retirement age shouldn’t creep up over the next decade or two?

Yes. But not for another decade!

[creekster]

Yes. But not for another decade!

Exactly. That is precisely how I feel and the problem.

[PaloAltoCougar]

Exactly. That is precisely how I feel and the problem.

I'm concerned for future generations, and thus would extend the retirement age beginning at the end of next year.

[cowboy]

Yes. But not for another decade!

Exactly. That is precisely how I feel and the problem.

I'm concerned for future generations, and thus would extend the retirement age beginning at the end of next year.

Question for all you guys: How many of your colleagues have enough saved (or can save enough before retirement) that they can retire at 65 and live for 2-5 years on their own savings? That's what needs to happen, but when smart guys like you express the opinion you have, even though it may be partially in jest, I don't know how we get there from here.

[Jeff Lebowski]

Question for all you guys: How many of your colleagues have enough saved (or can save enough before retirement) that they can retire at 65 and live for 2-5 years on their own savings? That's what needs to happen, but when smart guys like you express the opinion you have, even though it may be partially in jest, I don't know how we get there from here.

I am joking. I am not relying on it at all.

I know far too many people who will have SS and little or nothing else. Scary.

[PaloAltoCougar]

I am joking. I am not relying on it at all.

I know far too many people who will have SS and little or nothing else. Scary.

Ditto. Although I hit full retirement age in eight months, I won't starting drawing for awhile, and perhaps wait until I'm compelled by law to start drawing down at 70. But I do think the retirement age should be pushed back starting in a few years and even then having it phased in gradually. It was pushed back for most of us a few years ago.

[Uncle Ted]

I am joking. I am not relying on it at all.

I know far too many people who will have SS and little or nothing else. Scary.

I am banking on SS to pay for my gambling habit.

[Katy Lied]

My strategy: Helloooo MacDonalds with your cradle-to-grave minimum wage program!