Interesting article - coming to a country near you! (Page 3): Can't make the poor rich, by making the rich poor. Libs never seem to grasp this.

JFlorio Loc: Seminole Florida

Can't make the poor rich, by making the rich poor. Libs never seem to grasp this.

Jean Deaux wrote:

As a nation, we started by funding our government with duties and tariffs and later developed taxes. I believe the total number of taxes we are now subject to is 96. Sales tax, property tax, gas tax, luxury tax, etc., in addition to our income tax (which, by the way, is graduated). And, much to the disdain of socialists, we still have the rich among us as well as the poor.

debeda

permafrost wrote:

Do you understand what a graduated income tax is???

Why yes I do. The more you make the larger percentage you pay. Did that help you?

permafrost Loc: Minnesota

debeda wrote:

Why yes I do. The more you make the larger percentage you pay. Did that help you?

I am glad to hear that from you. Now were you saying that people working 2 or 3 jobs to make ends meet would be penniless due to that graduated tax plan??

Could you explain how that would work out??

debeda

permafrost wrote:

I am glad to hear that from you. Now were you saying that people working 2 or 3 jobs to make ends meet would be penniless due to that graduated tax plan??

Could you explain how that would work out??

If you are working multiple jobs you are taxed on that job's income individually by the respective companies. That includes federal, state, fica and Medicare. You end up paying more than you would with just one job, particularly with the fica and Medicare portion.

debeda

permafrost wrote:

I am glad to hear that from you. Now were you saying that people working 2 or 3 jobs to make ends meet would be penniless due to that graduated tax plan??

Could you explain how that would work out??

Oh and I didn't say penniless I said paid more. You do have a flair for the dramatic

permafrost Loc: Minnesota

debeda wrote:

If you are working multiple jobs you are taxed on that job's income individually by the respective companies. That includes federal, state, fica and Medicare. You end up paying more than you would with just one job, particularly with the fica and Medicare portion.

When you fill out a 1040, you total all your earned income, then do what ever the deductions and exemptions allow.. do your math on the total not on each job separately..

But under the new temporary rules, I have no idea for the coming year..

Up to 2018 tax year, the total income matters, not the number of jobs..

Gee, I h**e tax time..

permafrost Loc: Minnesota

debeda wrote:

Oh and I didn't say penniless I said paid more. You do have a flair for the dramatic

Perhaps i do.. did not mean to overstate your statement..

when I got my first job after high school, several of the guys would refuse overtime on the ground that the tax from the additional income literally gave you less money then if you did not work overtime.

Obviously not true, but they would not see it my way.. Me thinks they simply did not want the work..

No, I know that is not what you said..

debeda

permafrost wrote:

Perhaps i do.. did not mean to overstate your statement..

when I got my first job after high school, several of the guys would refuse overtime on the ground that the tax from the additional income literally gave you less money then if you did not work overtime.

Obviously not true, but they would not see it my way.. Me thinks they simply did not want the work..

No, I know that is not what you said..

Yeah I've heard people say that to. Cuz the OT gets more taxes taken out. BUT you still get more $$. And that's why we go to work yeah?

permafrost Loc: Minnesota

debeda wrote:

Yeah I've heard people say that to. Cuz the OT gets more taxes taken out. BUT you still get more $$. And that's why we go to work yeah?

Can not think of a better reason..

Have a fine night, it is super up here... best night all summer..

debeda

permafrost wrote:

Can not think of a better reason..

Have a fine night, it is super up here... best night all summer..

Excellent!! I have friends here who used to live in Minnesota. They said the summers aren't very long but they're spectacular while they Last! Land of 1,000 lakes and all that

acknowledgeurma

Jean Deaux wrote:

I don't live in a retirement area but rather out in the country. I have a very nice home that I worked for, for many years after busting my tail in school and getting the best grades possible. I served my country and after, I worked overseas for years. The only young people I know are the ones I occasionally meet, many have the idea they are entitled and things will just happen for them. None are too energetic, some have done reasonably well in school but most are happy loafing. And you??

I live in a large US metropolitan area. I am an adviser for senior high students at my church. I take courses at a local community college. I have a child who graduated from high school 4 years ago and college last May. I come into contact with a lot of young people. The overwhelming number of them are hard working and very involved.

When I hear older people complain about "lazy young people", I'm reminded of the old coots who say, "Young-ins today have it easy. In my day we had to walk 10 miles to school, everyday, each way, in the snow, under the sweltering sun, uphill, both ways."

acknowledgeurma

Jean Deaux wrote:

As a nation, we started by funding our government with duties and tariffs and later developed taxes. I believe the total number of taxes we are now subject to is 96. Sales tax, property tax, gas tax, luxury tax, etc., in addition to our income tax (which, by the way, is graduated). And, much to the disdain of socialists, we still have the rich among us as well as the poor.

Duties and tariffs are essentially sales taxes. As I wrote before, I think there should only be income taxes (and possibly wealth taxes). The US Income Tax is graduated, but the number of brackets and upper bracket percentages are greatly reduced from those of the 1950s. I would imagine that a fully socialized society would have no taxes, since the government would own all means of production and distribution and be the only employer there would be no need for taxes.

acknowledgeurma

debeda wrote:

Yeah I've heard people say that to. Cuz the OT gets more taxes taken out. BUT you still get more $$. And that's why we go to work yeah?

The utility of OT wages may not be as high as regular time wages.

JFlorio Loc: Seminole Florida

Why is it you clowns on the left never discuss cutting spending; unless of course it is in the military? You are nothing more than another troll. Can throw a cat on OPP without hitting a leftwing troll. Are you Russian?

acknowledgeurma wrote:

Duties and tariffs are essentially sales taxes. As... (show quote)

permafrost Loc: Minnesota

JFlorio wrote:

Why is it you clowns on the left never discuss cutting spending; unless of course it is in the military? You are nothing more than another troll. Can throw a cat on OPP without hitting a leftwing troll. Are you Russian?

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WORKER WAGES DROPPING: Wages for U.S. workers fell by 1.4% last quarter compared to 2017, according to the PayScale Index, even as corporations spent a record $422 billion on stock buybacks (which enrich shareholders). Trump’s pick to oversee the economy, Fed. Reserve chair Jerome Powell, is expected to be grilled about lagging U.S. wages as he testifies before the House committee where Rep. Maxine Waters (D-CA) is the lead Democrat.