volinbham
VN GURU
- Joined
- Oct 21, 2004
- Messages
- 67,719
- Likes
- 55,281
Reasonable....and why tax laws are needed. It’s the only way this works.
Although with option two it would be a faster forcing function on directed spending cuts. It would take some trust that we, as a collective, know what’s good for us.
I'm thinking that Luther is a Superintendent of Schools in some city or county around Atlanta, and makes about $175,000-$250,000 a year.Another way we could take the abstract and make it real is by asking Luther how much above his tax liability does he send to the IRS. Assuming he lives in a HOA community in BUford, Ga, has a daughter who just graduated Georgia Tech with an engineering degree, and he and Mrs Luther make $120,000 combined per year. The median household income in Buford is $56,000.
Should Luther pay double the average tax paid in Buford because his Median household income is double?
Should it be triple or more if his daughter moves back home while making 75,000 in her first job after college thus taking his household income to $195,000?
Should he be assessed a fee since he has extra money to spare by living in an HOA community?
From what I gather the same as everyone else not indicted for tax evasion.
Oh boy. I cannot speak for others. But as for me, the tax i actually pay is only fractionally tied to my rate. Like you i have taxable income. Unlike you (i assume), i have a great deal of control over my taxable income.Correct.....all other things being equal.
still wondering if single people with no kids making 100K are over taxed, under taxed or just right.
I must know if they are paying their fairshare™
Overtaxed. Any person that is single without kids and doesn’t qualify for EIC gets raked over the coals. That’s why I hate filing statuses, deductions, credits, etc. As long as we have anything other than a flat tax there will be plenty not paying their fair share.