• Welcome to Religious Forums, a friendly forum to discuss all religions in a friendly surrounding.

    Your voice is missing! You will need to register to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Our modern chat room. No add-ons or extensions required, just login and start chatting!
    • Access to private conversations with other members.

    We hope to see you as a part of our community soon!

Income Tax is fair?

Ciscokid

Well-Known Member
I agree! You have to have a ton of money to keep a small business going. When you hit certain tax brackets, you work twice as hard for half the money. This is money you need to expand and create additional jobs with that you give the federal government which squanders it promptly. :yes:

If anyone should get tax breaks it should be small biz owners. They are the backbone of our society.
 

Magic Man

Reaper of Conversation
Is it just me, or should folks who make 50K pay a little income tax too? Why are nearly only half of Americans paying income tax? I don't make enough to buy vacation homes and yachts so I don't have the tax shelters to protect my money.

I imagine that this isn't a 'left' or 'right' issue, is it agree overall that the income tax system is deserving of some tweaking?

Nearly half of US households escape fed income tax - Yahoo! Finance

Here's a video explaining it for you.


More than half of the people not paying federal income tax make less than $20,000/year. You shouldn't so much be concerned with the fact that people aren't paying taxes. You should be concerned with why they're not paying taxes. The fact is that the income inequality in the country is insane. If more people were making enough to live somewhat comfortably, a lot more people would be paying taxes.
 

Magic Man

Reaper of Conversation
When you hit certain tax brackets, you work twice as hard for half the money.

No, you don't. Tax brackets are progressive. Everyone pays 10% on the first $8,300 they make, 15% on the amount between $8,300 and $34,000, 25% on anything between $34,000 and $82,000, and so on. If you start making $83,000, you don't suddenly start paying 28% on everything you earned. You only pay 28% on that extra $1,000. You still pay the lesser percentages on everything up to that.

It's not like you go from making $34,000 and paying $5,100 to making $35,000 and paying $8,750. You would go from paying $4,650 to paying $4,900.
 
Top