Re: Aren\'t taxes just too high?
 

Are there any studies on how much money people end up spending in taxes overall - when you include sales tax, and all they other hit you up taxes that get dumped onto you over the years. Not to mention paying SS tax, and getting back your money which is worth significantly less after inflation.

Re: Aren\'t taxes just too high?
 

didn't we also have some war during the Republican's terms in office? Seems like that might have something to do with it.

Re: Aren\'t taxes just too high?
 

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My taxes are too high.


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I agree. All the prices people charge me are too high. The Lexus dealer should be charging me $10.00 for an RX330. Let them make it up by charging others more.

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I don't have to deal with the Lexus dealer if I don't want. Plus, there's competition, so I can choose between Lexus dealers if I really want a Lexus. And...I can pick and choose my options. If I want to pay for some things and not others, then I can do that.

Let's see what happens when the taxman comes by:

"Here's your bill."

"Hey, listen, I only really want to pay for police, the national guard, and the roads. Can you retabulate the bill for me please?"

"No. You must pay the bill as is."

"Well, I don't think it's a fair deal, so I'll pass. I don't want this Medicare or this Social Security or this Iraq War or this Bridge to Nowhere. I don't want anything from you but roads and police. So if you won't sell me government services in the form that I want, then I'm not buying. Thanks anyway."

"This .45 says you should reconsider."

Will

Re: Aren\'t taxes just too high?
 

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didn't we also have some war during the Republican's terms in office? Seems like that might have something to do with it.

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Yes, lately it seems there's always "some war" when Republicans are running the White House.

Re: Aren\'t taxes just too high?
 

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We've been over this ground quite a bit before, so just this:

Highest marginal tax rate in 2005 is 35%, not 38%. And you have to make $326,450 to pay that. And you pay it on only that portion of your income that exceeds $326,450.

So, for example, if you make $350,000, 35% would be $122,500. But you don't pay $122,500. If you're married and filing jointly, you pay $102,240, which works out to 29.2%.

That still might be too high (or too low) depending on your politics, but this just points out that when you're in the 35% bracket, that doesn't mean you pay 35% federal income tax on all your income.

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It's amazing how few people actually understand this.

My opinion: any percentage is too high when it's spent on the wrong things. And it's often too low when it's spent on the right ones.

Re: Aren\'t taxes just too high?
 

There are studies that show that lower incomes pay more in sales taxes proportionately to their income than higher incomes. Some of this has to do with "sin taxes" such as tax on cigarettes and alcohol.