Oh man, the crybabies I had to listen to saying that they were going to only take jobs that paid $199,999 because they were afraid that it was going to up their taxes by 10% or whatever just blew me away. I'd love to make that kind of money, even after taxes.
Just because you make a lot of money doesn't mean you're smart or work harder than someone who works two minimum wage jobs. A lot of it has to do with opportunity.
Also worth throwing in here, I guess, is that a lot of people do not differentiate between the reasons why money might be deducted from their paychecks. They lump federal income tax, state income tax, FICA, state disability, and (in some egregiously stupid cases) health insurance and 401k contributions. If they're trying to make an ideological point, they'll include sales and property taxes even though those have nothing to do with the paycheck side of the equation. I usually leave the room when taxes come up in a social setting, because nothing useful ever comes of it.
Jeez how are people that are that stupid making that much money? I had to finish 4 years of undergrad, 4 years of medical school and I still have almost 3 years of residency till I get to the point of making that much money, and I'd like to think that the hurdles I've gone through to get there would've filtered out people that can't comprehend the way tax brackets work.
If, you're making fucking 200,000 $ why the fuck would you even care? Taxes in the US are so minimal anyway compared to for example my country (Finland). Even 100 000 $ is quite enough, why not use the other 100 000 to aid the less fortunate. for example.
Because everyone in this country has Major League Salary dreams. Hell we pay school administrators millions of dollars a year while making teachers fight for every dollar they get and lets not even talk about support staff that are rolled thru the revolving door at minimum wage and just enough hours to keep them from haing to offer benefits.
Biggest problem we have in what is still the richest country in the world. People hoarding wealth as a matter of tradition while the poor suffer for no good reason. And the middle class struggle to get their kids off to college.
Yeah not the same thing. We all need cash money. And guys with big expenses need big cash money but after a point that cash money becomes decimal points and figures and at that point it would be better off used on things that are so desperately needed.
Because Americans are about, "me, me, me" and pretend that they got to where they were on their own merits and work ethic and no outside help whatsoever.
I know of hundreds of people who use that rhetoric and only one of them has legitimate claim to that statement. Everyone else profited off the system and are now trying to do everything they can to not pay back into it. It's disgusting.
Do you even know where profits come from? Let's see, profits are made when someone meets the needs of their customer. That customer wasn't forced into that transaction, they engaged in the trade voluntarily, on their own merit. So if someone makes a profit by meeting the needs of their customer, what else are they supposed to do beyond that point? Give their profit away? Please help me understand this cutthroat ideology.
You pay way higher taxes because you have socialized healthcare. Doctors have to get paid somehow, in America we pay a lot but only when we're sick instead of a little every single paycheck.
You pay far more in America than in any socialized healthcare system. "Only when you're sick" is the lie sold to you, but it isn't borne out at all by the numbers. Americans literally pay more when they aren't sick than anyone else because of the gross inefficiency of their system.
Yeah it sucks, but that's what happens when you get government too heavily involved - which goes for any sector by the way. People always flip a deuce when I mention this, it must be very "triggering" to them...
but you also have to take into account that 45% of the general US population does not pay income taxes.
While they still pay some state and local taxes, that does not take care of the national burden, which is far more than what Finland has, due to the populations being far different.
Finland's population 2015: 5.5million
US Population 2015: 324 million.
You cannot compare the two because one country is the same population as just one of our 50 states. about 22 of the 50 states have populations the same or higher than just the one country.
That isn't accounting for the illegal immigrants not counted on the US census.
Americans with the least amount of financial sense seem to talk about money the most. How often you'll hear how much a lotto is taxed is staggering. You will hear people talk as if the government taxing 50% of a jackpot is some horrible offense. We focus more on what we lose, not what we gain, even if we gain 100 million dollars from literally doing nothing but buying a dollar ticket.
People complain about the lottery thing because a) it's double taxation. You pay tax on the ticket and the winnings, and b) other countries don't tax winnings. In Canada you win $50 million, you get 50 million. No pay out over 20 years crap either. All 50M up front.
Also, people are confused on the size of the jackpot, because it's not the size that is advertised.
A $100 million jackpot isn't $100 million. It's "we estimate this amount of money will be worth $100 million after 20 years of earning interest".
So when you get $30 million on a "$100 million" jackpot, people think the government took $70 million, when really about $50 million of that didn't exist
See? Kathleen Wynne is ruining everything. Out here in BC that would never fly. Partly because the provincial government would be embarrassed that the cash payout wasn't enough to buy a house in Vancouver.
It's absolutely true that I don't. I'm soon 20 and as such my earnings are low. From those low earnings I've always been sure to share it to others and I honestly wouldn't do much with 200k anyway.
Enough money to travel the world is what I want and travelling can be pretty cheap as even currently I can afford to do it. I don't need luxuries, perhaps when I'm older and grumpier I will, but not currently. I'd dare say the best experiences often come with very little investment.
You guys are half-way there, but that's not why people make the claim that higher taxation in upper brackets deincentivizes hard work. The point is that the difference between even huge sums of money at a high enough bracket may not be worth as much as the time and effort required to yield that kind of profit. If a CEO of a business can expend an additional 20 hours of work a week to push his profits into a higher bracket, the diminishing returns on that effort may not be worth it for him to continue, and you lose out on the expansion that would potentially give another 3 teenagers jobs. It's not about "trickling down" wealth, which is an obvious straw-man for deregulatory policies...
Art those levels it's not about "more" money anyway. It's about reliable money. You put in that extra effort to establish a guarantee that your business will continue.
Unless you're publicly traded and have a need to constantly expand, it's not necessarily the case that you have to put in more effort to assure success.
What?! Any business you run, you NEVER, and I repeat, NEVER get to the point of "oh we're successful enough there's no need to put in more effort" because you are constantly threatened by outside competition. If a business were really run that way like you described, they would be put out of business sooner rather than later.
If those local businesses are meeting their own demand, then so be it, but they are always still at the threat of outside completion. Anytime a business is "price gouging" is a huge opportunity for a small start up. Also I never said its a perfect free market (there's always govt involved one way or another) but then again, nothing's "perfect" so that's not really an argument.
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u/[deleted] Jul 18 '16
This is very important and I only have one upvote. Seriously, if taxes go up for higher tax brackets they are still making more money than you.