Mercnbeth
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quote:
ORIGINAL: meatcleaver quote:
ORIGINAL: Mercnbeth Remember the other taxes we pay. Real Estate, gas, vehicle registration, fees paid for government services. All those and the aforementioned sales taxes, State & city, are paid with after taxed income. Add them together and many more than realize are already in the 50-60% tax bracket; ironically, inversely proportional to income. If this is true, US citizens probably pay more tax than people living in European social democratic systems many on this board find abhorrent. I only wish that more would take the time to calculate what they are paying in total. It's not that hard. Take the bottom line (Net) from your tax return. Add up any local taxes paid from that net such as; auto registration, school tax, real estate, sewer, water, tolls, lottery tickets. Don't forget your social security account payments. The last is the hardest, estimate spending and apply the local, state sales tax. Maybe it's not so hard, if you have no savings at the end of the year, you've spent ALL of that net income. Apply your local sales tax rate, (LA = 8.25%). Now add up all of them and compare the total to your gross income. My guess is that many more will have a tax burden currently over 50% than less. Manage to save money and any interest earned is penalized with another tax. Save too much and your 'bracket' can be increased and eat up all the money you saved. Now if you have a child you want to send to college you have to somehow allocate from that net a savings account. Get sick, and again, you pay from that reserve. Unlike the EU, there is no safety net. My question to any supporting increasing the tax obligations from any source - where are you going to get the money; to guarantee college education or health care beyond the current system of no person denied treatment at any US hospital? When the health insurance companies are compressed in the face of a replacement government bureaucracy, which employee level will be most impacted, the 'executives' or the low end, mid manager types? If the Constitution is interpreted to include a guarantee of a college education, will the standards of our colleges be put in the hands of the same people who generated the current group of High School graduates who, in the majority, can't name the combatants or cause of WWII, or can't point to their own State on a national map?
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