[QUOTE=SiPlus666;33024133]50% of 1mln? Too big.[/QUOTE]
See the post about progressive tax rates; you'd only be taxed 50% on the millionth dollar if you happened to have exactly 1 million dollars.
[QUOTE=AceOfDivine;33024417]I don't agree on giving away 50% to the corrupted government. Chances are most of the tax will be spent on stupid shit like military and not shit that actually needs money.[/QUOTE]
What does this have to do with the discussion at hand? That's an entirely different problem.
[QUOTE=RyanDv3;33025220]
What does this have to do with the discussion at hand? That's an entirely different problem.[/QUOTE]
It is? My bad.
But still I wouldn't pay 50% of my earnings, I'd feel cheated. Tho I doubt I will ever be a millionaire so it doesn't impact me much.
[QUOTE=AceOfDivine;33025593]It is? My bad.
But still I wouldn't pay 50% of my earnings, I'd feel cheated. Tho I doubt I will ever be a millionaire so it doesn't impact me much.[/QUOTE]
For the love of god it is not "50% of my earnings", it's 50% on every dollar over 1 million dollars.
[QUOTE=Megafanx13;33027990]For the love of god it is not "50% of my earnings", it's 50% on every dollar over 1 million dollars.[/QUOTE]So if I get 1mil and 1$ I have to pay 50cents? Okay then.
[QUOTE=AceOfDivine;33028165]So if I get 1mil and 1$ I have to pay 50cents? Okay then.[/QUOTE]
Yes, pretty much.
[QUOTE=Megafanx13;33028243]Yes, pretty much.[/QUOTE]
But that opens a huge loophole. What if someone will be earning a little over the milestone to pay as little as possible?
[QUOTE=AceOfDivine;33028537]But that opens a huge loophole. What if someone will be earning a little over the milestone to pay as little as possible?[/QUOTE]
[QUOTE=AceOfDivine;33028165]So if I get 1mil and 1$ I have to pay 50cents? Okay then.[/QUOTE]
You have to pay whatever the taxes on $999,999, PLUS the 50 cents. (actually a dollar because the millionth dollar counts too)
[QUOTE=RyanDv3;33028683]You have to pay whatever the taxes on $999,999, PLUS the 50 cents. (actually a dollar because the millionth dollar counts too)[/QUOTE]
But then I'd need to pay whatever the tax on 30k, 100k, 500k... Then I'd pay like most of my money.
[QUOTE=AceOfDivine;33028846]But then I'd need to pay whatever the tax on 30k, 100k, 500k... Then I'd pay like most of my money.[/QUOTE]
No, you pay the tax rate on 30k, then you subtract 30k from how much you made, and then you pay the tax rate on 100k and subtract a 100k from how much you made, etc.
In the end, even if you made infinite dollars, you'd still be paying less than half of your money.
[editline]29th October 2011[/editline]
If I did my math correctly, at 1 million, given this system, you'd only be paying $257,500.50, or just 25.75%.
Thanks, it makes sense now. Yeah it's a good system then. But rich won't agree on it.
[QUOTE=AceOfDivine;33029526]Thanks, it makes sense now. Yeah it's a good system then. But rich won't agree on it.[/QUOTE]
Most people aren't going to agree on higher taxes, but that's life. The question is, is it necessary?
It is for the rich. If you earned 1mil and only paid 250k, I wouldn't mind. This only includes private profits and not company profits, right? Because for a person 750k is quite enough really.
Sorry, you need to Log In to post a reply to this thread.
