How much should individuals making $100k-$250k pay in taxes?

[OSR stands with Israel]

Depends how they primarily made that much . If they are primarily a small business owner their taxes should go down (I support expanding the QBI deduction) , but other than that it should stay around the same as it is now at a federal level.

Now at the state level it’s a very different story because I believe states like CA/NY/NJ do tax the UMC way too much 

[OSR stands with Israel]

Generally the current tax system in general works fine at the federal level and there are a few changes I’d make like making the Child Tax Credit refundable and expanding the QBI deduction. There also aren’t anywhere near the amount of deductions people think there are as they have been severely curtailed over the years including at the corporate level .

The reason tech companies don’t pay much in taxes is because :

1. Many of them weren’t profitable at all for so many years so their NOLs still haven’t been used up yet.

2. Despite not being profitable for so many years , their stock prices still went up as Wall Street didn’t really mind that they weren’t making profits due to future potential .


 

[OSR stands with Israel]

Anyway, here's my personal proposal:
$0 - $12,500 = 5.0%
$12,500-$40,000 = 7.5%
$40,000-$90,000 = 15.0%
$90,000-$170,000 = 20.0%
$170,000-$400,000 = 25.0%
$400,000-$1,000,000 = 31.5%
$1,000,000-$2,500,000 = 45.5%
$2,500,000-$10,000,000 = 58.5%
$10,000,000-$100,000,000 = 73.5%
$100,000,000-$1,000,000,000 = 81.5%
$1,000,000,000+ = 92.5%

This seems extremely reasonable

No it’s not , the current system works perfectly fine . Those types of tax hikes would be disastrous for the economy

[OSR stands with Israel]

what the f-. you are not taking into account state and federal taxes, mandatory 401k, health insurance, car insurance, student loan payments, etc, etc. that $2800 that you think everyone just magically has laying around after paying the minimum 30% tax rate is so naïve. how old are you? that $2800 is more like $1000 once even more taxes are payed off. in CA it's probably even less.

It is ironic that the strategy of starving public services of budget via low taxes you're advocating would only worsen the visceral fear you express of earning "only" $2800 a month left after taxes.

Anyway, here's my personal proposal:
$0 - $12,500 = 5.0%
$12,500-$40,000 = 7.5%
$40,000-$90,000 = 15.0%
$90,000-$170,000 = 20.0%
$170,000-$400,000 = 25.0%
$400,000-$1,000,000 = 31.5%
$1,000,000-$2,500,000 = 45.5%
$2,500,000-$10,000,000 = 58.5%
$10,000,000-$100,000,000 = 73.5%
$100,000,000-$1,000,000,000 = 81.5%
$1,000,000,000+ = 92.5%

Just plain weird. Why are you devoting 6 tax brackets to the top percentile of earners, and 5 to the bottom 99%?
Since the median income in the US is 70k per household, that places median Americans squarely in your second-lowest "charity" bracket.

Anything above $200,000 a year (top decile) must be heavily taxed to create any quality of public service.

Yeah buddy it doesn’t mean we all should be starving. Some of us climbed the latter and want to make a nice living one day.

People in countries with higher taxes and expansive social safety nets are famously "starving".  

Or is this satire? I can't fully tell these days sometimes.

It should be noted that in many other countries, especially in Europe, all income levels are taxed quite heavily. And they even have VAT taxes, which we would call… regressive. But the point isn’t about regressiveness.


This debate we’re having in the thread just speaks to a problem regarding American Hyper Individualism. My money. My rights.

In Europe, everyone is taxed heavily. Everyone is treated the same, rich and poor. Everyone benefits.

And the US is doing far better economically than Europe . I would much rather live in an American style society than a European one

[OSR stands with Israel]

what the f-. you are not taking into account state and federal taxes, mandatory 401k, health insurance, car insurance, student loan payments, etc, etc. that $2800 that you think everyone just magically has laying around after paying the minimum 30% tax rate is so naïve. how old are you? that $2800 is more like $1000 once even more taxes are payed off. in CA it's probably even less.

It is ironic that the strategy of starving public services of budget via low taxes you're advocating would only worsen the visceral fear you express of earning "only" $2800 a month left after taxes.

Anyway, here's my personal proposal:
$0 - $12,500 = 5.0%
$12,500-$40,000 = 7.5%
$40,000-$90,000 = 15.0%
$90,000-$170,000 = 20.0%
$170,000-$400,000 = 25.0%
$400,000-$1,000,000 = 31.5%
$1,000,000-$2,500,000 = 45.5%
$2,500,000-$10,000,000 = 58.5%
$10,000,000-$100,000,000 = 73.5%
$100,000,000-$1,000,000,000 = 81.5%
$1,000,000,000+ = 92.5%

Just plain weird. Why are you devoting 6 tax brackets to the top percentile of earners, and 5 to the bottom 99%?
Since the median income in the US is 70k per household, that places median Americans squarely in your second-lowest "charity" bracket.

Anything above $200,000 a year (top decile) must be heavily taxed to create any quality of public service.

Yeah buddy it doesn’t mean we all should be starving. Some of us climbed the latter and want to make a nice living one day.

People in countries with higher taxes and expansive social safety nets are famously "starving".  

Or is this satire? I can't fully tell these days sometimes.

It should be noted that in many other countries, especially in Europe, all income levels are taxed quite heavily. And they even have VAT taxes, which we would call… regressive. But the point isn’t about regressiveness.


This debate we’re having in the thread just speaks to a problem regarding American Hyper Individualism. My money. My rights.

In Europe, everyone is taxed heavily. Everyone is treated the same, rich and poor. Everyone benefits.

And the US is doing far better economically than Europe . I would much rather live in an American style society than a European one

The top ten countries in terms of economic freedom according to the very conservative heritage foundation all have universal healthcare, tuition free university, and tons of social benefits.

https://www.heritage.org/index/ranking

Europe is going through a massive energy crises right now , unemployment is higher in the vast majority of Europe then it is here , per capita income is lower etc .

Hell the UK’s Median household income is lower than Mississippi

[OSR stands with Israel]

what the f-. you are not taking into account state and federal taxes, mandatory 401k, health insurance, car insurance, student loan payments, etc, etc. that $2800 that you think everyone just magically has laying around after paying the minimum 30% tax rate is so naïve. how old are you? that $2800 is more like $1000 once even more taxes are payed off. in CA it's probably even less.

It is ironic that the strategy of starving public services of budget via low taxes you're advocating would only worsen the visceral fear you express of earning "only" $2800 a month left after taxes.

Anyway, here's my personal proposal:
$0 - $12,500 = 5.0%
$12,500-$40,000 = 7.5%
$40,000-$90,000 = 15.0%
$90,000-$170,000 = 20.0%
$170,000-$400,000 = 25.0%
$400,000-$1,000,000 = 31.5%
$1,000,000-$2,500,000 = 45.5%
$2,500,000-$10,000,000 = 58.5%
$10,000,000-$100,000,000 = 73.5%
$100,000,000-$1,000,000,000 = 81.5%
$1,000,000,000+ = 92.5%

Just plain weird. Why are you devoting 6 tax brackets to the top percentile of earners, and 5 to the bottom 99%?
Since the median income in the US is 70k per household, that places median Americans squarely in your second-lowest "charity" bracket.

Anything above $200,000 a year (top decile) must be heavily taxed to create any quality of public service.

Yeah buddy it doesn’t mean we all should be starving. Some of us climbed the latter and want to make a nice living one day.

People in countries with higher taxes and expansive social safety nets are famously "starving".  

Or is this satire? I can't fully tell these days sometimes.

It should be noted that in many other countries, especially in Europe, all income levels are taxed quite heavily. And they even have VAT taxes, which we would call… regressive. But the point isn’t about regressiveness.


This debate we’re having in the thread just speaks to a problem regarding American Hyper Individualism. My money. My rights.

In Europe, everyone is taxed heavily. Everyone is treated the same, rich and poor. Everyone benefits.

And the US is doing far better economically than Europe . I would much rather live in an American style society than a European one

I would rather live a healthier and longer life than live in an oversized McMansion and a “nice” car. Different values I guess.

I am a fan of American style suburbia

[OSR stands with Israel]

what the f-. you are not taking into account state and federal taxes, mandatory 401k, health insurance, car insurance, student loan payments, etc, etc. that $2800 that you think everyone just magically has laying around after paying the minimum 30% tax rate is so naïve. how old are you? that $2800 is more like $1000 once even more taxes are payed off. in CA it's probably even less.

It is ironic that the strategy of starving public services of budget via low taxes you're advocating would only worsen the visceral fear you express of earning "only" $2800 a month left after taxes.

Anyway, here's my personal proposal:
$0 - $12,500 = 5.0%
$12,500-$40,000 = 7.5%
$40,000-$90,000 = 15.0%
$90,000-$170,000 = 20.0%
$170,000-$400,000 = 25.0%
$400,000-$1,000,000 = 31.5%
$1,000,000-$2,500,000 = 45.5%
$2,500,000-$10,000,000 = 58.5%
$10,000,000-$100,000,000 = 73.5%
$100,000,000-$1,000,000,000 = 81.5%
$1,000,000,000+ = 92.5%

Just plain weird. Why are you devoting 6 tax brackets to the top percentile of earners, and 5 to the bottom 99%?
Since the median income in the US is 70k per household, that places median Americans squarely in your second-lowest "charity" bracket.

Anything above $200,000 a year (top decile) must be heavily taxed to create any quality of public service.

Yeah buddy it doesn’t mean we all should be starving. Some of us climbed the latter and want to make a nice living one day.

People in countries with higher taxes and expansive social safety nets are famously "starving".  

Or is this satire? I can't fully tell these days sometimes.

It should be noted that in many other countries, especially in Europe, all income levels are taxed quite heavily. And they even have VAT taxes, which we would call… regressive. But the point isn’t about regressiveness.


This debate we’re having in the thread just speaks to a problem regarding American Hyper Individualism. My money. My rights.

In Europe, everyone is taxed heavily. Everyone is treated the same, rich and poor. Everyone benefits.

And the US is doing far better economically than Europe . I would much rather live in an American style society than a European one

I would rather live a healthier and longer life than live in an oversized McMansion and a “nice” car. Different values I guess.

I am a fan of American style suburbia

Cool. I am a fan of living.

More people can own homes here thanks to American style suburbia and it actually has kept overall housing prices low compared to most of the western world .

National Housing prices have kept up with disposable income here unlike in Canada and much of Europe