Majority of Americans favor wealth tax on very rich: Reuters/Ipsos poll

[ThisIsMe]

Why is it that the answer is always more taxation. Our government spends money like it grows on trees, and once government is expanded, they want more more more...

At what point is enough enough. How about this, instead of taking more and more, why dont we cut spending? We can take money from all the frivolous things, and use it on programs more important.

I also find it ironic that most people are in favor of other people giving up more of their money, but if they won the lottery tomorrow, they be telling the government "hands off my cash".

Because we could not all collectively agree with what spending cuts to have. Everybody wants their own goodies, but are happy to suggest other people's goodies get taken away.

So indirectly, it's really our own fault; not because of who we elect, but because the Democrats have made most of the country government dependent.

It's like a scenario Dr Walter E Williams gives. "I'm going to run for a federal position in government. My platform will be, I will not bring any money back to my state. Would you vote for me?"

That's easy to solve. Just look at the constitution, if it ain't in there, then the federal government doesnt need to be doing it. Anything extra is for the states to vote on, and implement.

And if you were a politician, you would attempt to do something like that?

Let's take Social Security and Medicare for example. Somebody is running for office, and they promise to get rid of those programs. Who do you think would support that? Well, certainly not you if you were nearing retirement age. Certainly not you if you were on disability. Certainly not you if your parents were on Social Security and getting treatment because of Medicare. Certainly not you if you're younger and have grandparents on those programs.

So it's not something easily done, because most of the people would be against you and never let you into a position of power.

This is my Ray from Cleveland raccoon theory: You catch a raccoon digging in your garbage can. In empathy, you go to the fridge and fetch that meaty hambone you were going to throw away at the end of the week anyhow, and give it to the raccoon.

The animal eats in delight, perhaps confused why you provided it food. But then give it about 30 seconds and try to take that hambone back and see what happens to you.

The Democrats are well aware of my theory. This is why they always strive to hook more people on social programs. Like the hambone, once you give them to people, it's rightfully theirs in their minds. And nobody dares to take that hambone away unless you want to get your hand chewed up.

Yeah, probably why I'll never be a politician. I think the constitution has been trampled on over the years, and its ideas and principles ignored, for the most part.

 

[ThunderKiss1965]

..we need to cut taxes....

And spending.

 

[colfax_m]

That’s idiotic. There’s as about many Jews in this country as all of Israel. Of course, some Republicans do want us to know that some Jews aren’t really Jews. Some of them are fake Jews.

idiotic? It is the only mostly Jewish country and a Democracy so if you vilify Israel, what exactly are you vilifying? Please explain? Its rivers and roads?

I don’t believe in vilifying anyone but I will criticize policy if I disagree with it.

Let’s use your framing in a similar context. If you vilify Democrats, are you racist against black people? After all, they’re the party with the most black voters.

Of course not. You’re just trying to shut down rational criticism by hiding behind the allegation of anti-Semitism. It’s pathetic.

Wrong. And actually yes, people state those who vote Republican now are racists. LOL. What are you criticizing? The people who elected the officials who carry out their agenda? The policies are supported by the majority of Jews. The Democrat party is not only made up of blacks or those who support blacks. Your conflation is incorrect. If I criticize France then yes, I am criticizing the French people as they elected that Gov't.

For starters, a person voting for a politician does not automatically support all policies by that politician. Second, I could only be criticizing the people who enable that policy. As we both know, not all Jews agree with all policies enacted by Israel and therefore cannot be considered anti-Semitic.

You criticize people for doing this exact same thing when it comes to domestic politics. You’re just trying to hide from legitimate criticism. You’re better than this.

What specifically are you critical of Israel for? Explain. I am critical of Democrats because they are run by racist, antisemitic leftists. It would be as if the Republican party were run by David Duke. I would smash them if that were the case.

Yep. Most Jews in this country vote for the anti-Semites. Makes sense to me.

 

[j-mac]

I think that the lower 50% that now pay nothing, should kick in...BTW, you're in business, are you saying you didn't get into business to make money?

It’s not particularly true that the lower 50% pay nothing. You should just take into account all taxes that are paid, from sales through FICA and it turns out that the tax code is far less progressive than you think. In fact, it’s kinda a hump where they kinda wealthy pay the most and the really wealthy pay about as much as the poor people.

I couldn't agree more. As a middle america working man, if you add in all of the taxation that I have to cough up, it's more than 50%...But look, if you have someone that makes let's say $25K per year, and they pay in (Just to make it easy) $3k through withholding, then at the end of the year through different credits they can take they get back $4K, then they are what I call a zero liability individual...Who do you think pays them? You do, I do....Now, chances are good that they are on some kind of assistance as well be it food, rent, energy whatever....In that respect they don't pay the taxes on that either....Like you or I do....And you are upset that some wealthy person saves on their taxes? Hell, they pay most of the bill in this country.

I kinda doubt that anyone in the middle class actually can hit 50% taxation. Middle quartile income is something like 25% total effective tax rate. The poorest is like 20% and the wealthiest is like 30%. The total effective tax rate just isn’t all that different to be honest.

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

 

[AzogtheDefiler]

idiotic? It is the only mostly Jewish country and a Democracy so if you vilify Israel, what exactly are you vilifying? Please explain? Its rivers and roads?

I don’t believe in vilifying anyone but I will criticize policy if I disagree with it.

Let’s use your framing in a similar context. If you vilify Democrats, are you racist against black people? After all, they’re the party with the most black voters.

Of course not. You’re just trying to shut down rational criticism by hiding behind the allegation of anti-Semitism. It’s pathetic.

Wrong. And actually yes, people state those who vote Republican now are racists. LOL. What are you criticizing? The people who elected the officials who carry out their agenda? The policies are supported by the majority of Jews. The Democrat party is not only made up of blacks or those who support blacks. Your conflation is incorrect. If I criticize France then yes, I am criticizing the French people as they elected that Gov't.

For starters, a person voting for a politician does not automatically support all policies by that politician. Second, I could only be criticizing the people who enable that policy. As we both know, not all Jews agree with all policies enacted by Israel and therefore cannot be considered anti-Semitic.

You criticize people for doing this exact same thing when it comes to domestic politics. You’re just trying to hide from legitimate criticism. You’re better than this.

What specifically are you critical of Israel for? Explain. I am critical of Democrats because they are run by racist, antisemitic leftists. It would be as if the Republican party were run by David Duke. I would smash them if that were the case.

Yep. Most Jews in this country vote for the anti-Semites. Makes sense to me.

We will see who they vote for in 2020.

 

[Ray From Cleveland]

It’s not particularly true that the lower 50% pay nothing. You should just take into account all taxes that are paid, from sales through FICA and it turns out that the tax code is far less progressive than you think. In fact, it’s kinda a hump where they kinda wealthy pay the most and the really wealthy pay about as much as the poor people.

I couldn't agree more. As a middle america working man, if you add in all of the taxation that I have to cough up, it's more than 50%...But look, if you have someone that makes let's say $25K per year, and they pay in (Just to make it easy) $3k through withholding, then at the end of the year through different credits they can take they get back $4K, then they are what I call a zero liability individual...Who do you think pays them? You do, I do....Now, chances are good that they are on some kind of assistance as well be it food, rent, energy whatever....In that respect they don't pay the taxes on that either....Like you or I do....And you are upset that some wealthy person saves on their taxes? Hell, they pay most of the bill in this country.

I kinda doubt that anyone in the middle class actually can hit 50% taxation. Middle quartile income is something like 25% total effective tax rate. The poorest is like 20% and the wealthiest is like 30%. The total effective tax rate just isn’t all that different to be honest.

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Here, I was paying about 20% of my adjustable net income to property tax, and our county has an 8% consumption tax. That means everything I buy here has nearly a 10% tax on it. Those are just two of the many type of taxes I pay. On top of that, add on all the other ones.

So it's not unreasonable to say that (depending on where you live) some are not paying 50% of their net income to all the various taxes.

 

[colfax_m]

It’s not particularly true that the lower 50% pay nothing. You should just take into account all taxes that are paid, from sales through FICA and it turns out that the tax code is far less progressive than you think. In fact, it’s kinda a hump where they kinda wealthy pay the most and the really wealthy pay about as much as the poor people.

I couldn't agree more. As a middle america working man, if you add in all of the taxation that I have to cough up, it's more than 50%...But look, if you have someone that makes let's say $25K per year, and they pay in (Just to make it easy) $3k through withholding, then at the end of the year through different credits they can take they get back $4K, then they are what I call a zero liability individual...Who do you think pays them? You do, I do....Now, chances are good that they are on some kind of assistance as well be it food, rent, energy whatever....In that respect they don't pay the taxes on that either....Like you or I do....And you are upset that some wealthy person saves on their taxes? Hell, they pay most of the bill in this country.

I kinda doubt that anyone in the middle class actually can hit 50% taxation. Middle quartile income is something like 25% total effective tax rate. The poorest is like 20% and the wealthiest is like 30%. The total effective tax rate just isn’t all that different to be honest.

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Where did you get 15k in sales tax? At 7% that means they spent $215k on items that had sales tax, which is extremely odd given their income is $100k. Maybe you missed a decimal place?

Even in NJ, to get $13k in property tax, this couple needs a house over assessed at over $500k. The rule of thumb states they should have no more house than 2.5x their income so it’s twice as much house as they can afford. Still, NJ has much lower income tax rate, for them it’d be closer to $2k in state taxes which you didn’t account for. You said $7k in state taxes which is really high. In my state, one of the highest taxed states, they’d pay less than $5k. Although I think you miscalculated FICA which should be over $7k since it applies to all income without taking any deductible.

Worst case scenario, in the highest taxes state possible (with no kids) I’m thinking they top out at around 30-32%. A lot of that depends on the size of house they buy.

 

[colfax_m]

I couldn't agree more. As a middle america working man, if you add in all of the taxation that I have to cough up, it's more than 50%...But look, if you have someone that makes let's say $25K per year, and they pay in (Just to make it easy) $3k through withholding, then at the end of the year through different credits they can take they get back $4K, then they are what I call a zero liability individual...Who do you think pays them? You do, I do....Now, chances are good that they are on some kind of assistance as well be it food, rent, energy whatever....In that respect they don't pay the taxes on that either....Like you or I do....And you are upset that some wealthy person saves on their taxes? Hell, they pay most of the bill in this country.

I kinda doubt that anyone in the middle class actually can hit 50% taxation. Middle quartile income is something like 25% total effective tax rate. The poorest is like 20% and the wealthiest is like 30%. The total effective tax rate just isn’t all that different to be honest.

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Here, I was paying about 20% of my adjustable net income to property tax, and our county has an 8% consumption tax. That means everything I buy here has nearly a 10% tax on it. Those are just two of the many type of taxes I pay. On top of that, add on all the other ones.

So it's not unreasonable to say that (depending on where you live) some are not paying 50% of their net income to all the various taxes.

How were you paying 20% of your income on property tax? I live in a high tax state and pay no more than 4%.

 

[colfax_m]

I don’t believe in vilifying anyone but I will criticize policy if I disagree with it.

Let’s use your framing in a similar context. If you vilify Democrats, are you racist against black people? After all, they’re the party with the most black voters.

Of course not. You’re just trying to shut down rational criticism by hiding behind the allegation of anti-Semitism. It’s pathetic.

Wrong. And actually yes, people state those who vote Republican now are racists. LOL. What are you criticizing? The people who elected the officials who carry out their agenda? The policies are supported by the majority of Jews. The Democrat party is not only made up of blacks or those who support blacks. Your conflation is incorrect. If I criticize France then yes, I am criticizing the French people as they elected that Gov't.

For starters, a person voting for a politician does not automatically support all policies by that politician. Second, I could only be criticizing the people who enable that policy. As we both know, not all Jews agree with all policies enacted by Israel and therefore cannot be considered anti-Semitic.

You criticize people for doing this exact same thing when it comes to domestic politics. You’re just trying to hide from legitimate criticism. You’re better than this.

What specifically are you critical of Israel for? Explain. I am critical of Democrats because they are run by racist, antisemitic leftists. It would be as if the Republican party were run by David Duke. I would smash them if that were the case.

Yep. Most Jews in this country vote for the anti-Semites. Makes sense to me.

We will see who they vote for in 2020.

Good dodge. You really painted yourself into a corner although I doubt youll be applying the standards you set for others to yourself.

 

[AzogtheDefiler]

Wrong. And actually yes, people state those who vote Republican now are racists. LOL. What are you criticizing? The people who elected the officials who carry out their agenda? The policies are supported by the majority of Jews. The Democrat party is not only made up of blacks or those who support blacks. Your conflation is incorrect. If I criticize France then yes, I am criticizing the French people as they elected that Gov't.

For starters, a person voting for a politician does not automatically support all policies by that politician. Second, I could only be criticizing the people who enable that policy. As we both know, not all Jews agree with all policies enacted by Israel and therefore cannot be considered anti-Semitic.

You criticize people for doing this exact same thing when it comes to domestic politics. You’re just trying to hide from legitimate criticism. You’re better than this.

What specifically are you critical of Israel for? Explain. I am critical of Democrats because they are run by racist, antisemitic leftists. It would be as if the Republican party were run by David Duke. I would smash them if that were the case.

Yep. Most Jews in this country vote for the anti-Semites. Makes sense to me.

We will see who they vote for in 2020.

Good dodge. You really painted yourself into a corner although I doubt youll be applying the standards you set for others to yourself.

Not at all. My parents were long life Democrats. They came here in the 70s when Democrats like Ted Kennedy invited them here from Eastern Europe. They are now Republicans and feel the party betrayed them. They aren’t alone. Democrats did not come out so forcefully pro BDS and pure Antisemitic til very recently. You also never answered my question. You’re a coward.

Jews Could Swing the 2020 Election

 

[Ray From Cleveland]

I kinda doubt that anyone in the middle class actually can hit 50% taxation. Middle quartile income is something like 25% total effective tax rate. The poorest is like 20% and the wealthiest is like 30%. The total effective tax rate just isn’t all that different to be honest.

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Here, I was paying about 20% of my adjustable net income to property tax, and our county has an 8% consumption tax. That means everything I buy here has nearly a 10% tax on it. Those are just two of the many type of taxes I pay. On top of that, add on all the other ones.

So it's not unreasonable to say that (depending on where you live) some are not paying 50% of their net income to all the various taxes.

How were you paying 20% of your income on property tax? I live in a high tax state and pay no more than 4%.

It all depends on your income I guess. I'm just a middle-class earner. I do have rental properties where I live, but I also include the rent collections (minus deductions) as part of my gross and adjusted income. Our property tax is mostly the public schools which they put up brand new ones about ten years ago or so. Our property tax includes city and county taxes.

 

[there4eyeM]

Jesus himself pointed out that those who have much more than others have much more to do with their wealth. It is only common sense that the rich participate in proportion to how much they gain from the productivity of their society. If they were truly intelligent, taxes would not be necessary to make this happen. If they were truly "Christian", it would not be necessary. That it apparently is necessary is testimony to the short nearsightedness of the wealthy.

 

[j-mac]

I couldn't agree more. As a middle america working man, if you add in all of the taxation that I have to cough up, it's more than 50%...But look, if you have someone that makes let's say $25K per year, and they pay in (Just to make it easy) $3k through withholding, then at the end of the year through different credits they can take they get back $4K, then they are what I call a zero liability individual...Who do you think pays them? You do, I do....Now, chances are good that they are on some kind of assistance as well be it food, rent, energy whatever....In that respect they don't pay the taxes on that either....Like you or I do....And you are upset that some wealthy person saves on their taxes? Hell, they pay most of the bill in this country.

I kinda doubt that anyone in the middle class actually can hit 50% taxation. Middle quartile income is something like 25% total effective tax rate. The poorest is like 20% and the wealthiest is like 30%. The total effective tax rate just isn’t all that different to be honest.

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Where did you get 15k in sales tax? At 7% that means they spent $215k on items that had sales tax, which is extremely odd given their income is $100k. Maybe you missed a decimal place?

Even in NJ, to get $13k in property tax, this couple needs a house over assessed at over $500k. The rule of thumb states they should have no more house than 2.5x their income so it’s twice as much house as they can afford. Still, NJ has much lower income tax rate, for them it’d be closer to $2k in state taxes which you didn’t account for. You said $7k in state taxes which is really high. In my state, one of the highest taxed states, they’d pay less than $5k. Although I think you miscalculated FICA which should be over $7k since it applies to all income without taking any deductible.

Worst case scenario, in the highest taxes state possible (with no kids) I’m thinking they top out at around 30-32%. A lot of that depends on the size of house they buy.

Ok, let's go with your numbers...32% of someones labor...You think that is acceptable for a middle income couple making $100K? Why should any government need that much of someones labor unless there are a whole lot of people sponging off the system?

I extrapolated most of the numbers from a LATimes article, and now cant find it, closed the window...But, it is outrageous to me that so many, 44 to 47% effectively are paying no tax at all while my budget get whacked at such confiscatory rates....

While I do think that everyone needs to pitch in for the society we have, I think that should be everyone....you know the saying, '10% is enough for God, it should be enough for the Government'

 

[j-mac]

Jesus himself pointed out that those who have much more than others have much more to do with their wealth. It is only common sense that the rich participate in proportion to how much they gain from the productivity of their society. If they were truly intelligent, taxes would not be necessary to make this happen. If they were truly "Christian", it would not be necessary. That it apparently is necessary is testimony to the short nearsightedness of the wealthy.

I'm not a fan of bringing religion into taxation arguments....Washington has beat us over the head that they don't want religion in the public square, so why invoke it now when we are talking about what the government takes at the barrel of a gun? When you or anyone bringing up religion can show me where Jesus preached that you should take care of the poor at the tip of the Roman spear, then we can talk about that....

 

[Flash]

...according to a Reuters/Ipsos poll

So who responded to the poll? Was it people that were at home who answered their telephone? Was it people that responded to an internet poll? We know how accurate they are, don't we? Did they set up a table on some Libtard college campus?

Was it greedy little assholes that answered the poll that think the government should be in the business of stealing money from other people and giving the money to them? Immoral bastards!

 

[Harpy Eagle]

Jesus himself pointed out that those who have much more than others have much more to do with their wealth. It is only common sense that the rich participate in proportion to how much they gain from the productivity of their society. If they were truly intelligent, taxes would not be necessary to make this happen. If they were truly "Christian", it would not be necessary. That it apparently is necessary is testimony to the short nearsightedness of the wealthy.

I'm not a fan of bringing religion into taxation arguments....Washington has beat us over the head that they don't want religion in the public square, so why invoke it now when we are talking about what the government takes at the barrel of a gun? When you or anyone bringing up religion can show me where Jesus preached that you should take care of the poor at the tip of the Roman spear, then we can talk about that....

I think you missed his point. If Christians were doing what Jesus commanded them to do, there would be no need for the government to take care of the poor.

 

[j-mac]

Jesus himself pointed out that those who have much more than others have much more to do with their wealth. It is only common sense that the rich participate in proportion to how much they gain from the productivity of their society. If they were truly intelligent, taxes would not be necessary to make this happen. If they were truly "Christian", it would not be necessary. That it apparently is necessary is testimony to the short nearsightedness of the wealthy.

I'm not a fan of bringing religion into taxation arguments....Washington has beat us over the head that they don't want religion in the public square, so why invoke it now when we are talking about what the government takes at the barrel of a gun? When you or anyone bringing up religion can show me where Jesus preached that you should take care of the poor at the tip of the Roman spear, then we can talk about that....

I think you missed his point. If Christians were doing what Jesus commanded them to do, there would be no need for the government to take care of the poor.

Judge not, least ye be judged.

 

[Harpy Eagle]

Jesus himself pointed out that those who have much more than others have much more to do with their wealth. It is only common sense that the rich participate in proportion to how much they gain from the productivity of their society. If they were truly intelligent, taxes would not be necessary to make this happen. If they were truly "Christian", it would not be necessary. That it apparently is necessary is testimony to the short nearsightedness of the wealthy.

I'm not a fan of bringing religion into taxation arguments....Washington has beat us over the head that they don't want religion in the public square, so why invoke it now when we are talking about what the government takes at the barrel of a gun? When you or anyone bringing up religion can show me where Jesus preached that you should take care of the poor at the tip of the Roman spear, then we can talk about that....

I think you missed his point. If Christians were doing what Jesus commanded them to do, there would be no need for the government to take care of the poor.

Judge not, least ye be judged.

The next part of that verse is the more relevant part but none of you people have ever read that part.

 

[colfax_m]

You brought up all of the associated taxation like Sales, Property, etc etc....Add it up.

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Here, I was paying about 20% of my adjustable net income to property tax, and our county has an 8% consumption tax. That means everything I buy here has nearly a 10% tax on it. Those are just two of the many type of taxes I pay. On top of that, add on all the other ones.

So it's not unreasonable to say that (depending on where you live) some are not paying 50% of their net income to all the various taxes.

How were you paying 20% of your income on property tax? I live in a high tax state and pay no more than 4%.

It all depends on your income I guess. I'm just a middle-class earner. I do have rental properties where I live, but I also include the rent collections (minus deductions) as part of my gross and adjusted income. Our property tax is mostly the public schools which they put up brand new ones about ten years ago or so. Our property tax includes city and county taxes.

Having rental properties is very different and counting that as your tax burden is a very different story than what an average middle class person would deal with. Property taxes on rental properties is a business expense which is still tax deductible (although not for the average earner anymore).

 

[Ray From Cleveland]

Yeah, I know. After adding it up, I don’t think it comes anywhere close to 50% for anyone that’s actually middle class.

Well, let's take a look at that...according to figures of a couple that makes let's say $100K their average breakdown would look something like this

Federal - $11K
State - $7K
Med/FICA $3K
Property - $1.2K (Low property tax state like SC)
Assorted Sales $15K (@7%)

Now that comes to about $37K but if you take that property tax to a state like NJ at about $13K for the same type and size of home, then you are significantly closer to the 50% level

You can say it's true that it isn't 50% but it is only 13% short of that....You think that is a reasonable taxation level for that level of income?

Here, I was paying about 20% of my adjustable net income to property tax, and our county has an 8% consumption tax. That means everything I buy here has nearly a 10% tax on it. Those are just two of the many type of taxes I pay. On top of that, add on all the other ones.

So it's not unreasonable to say that (depending on where you live) some are not paying 50% of their net income to all the various taxes.

How were you paying 20% of your income on property tax? I live in a high tax state and pay no more than 4%.

It all depends on your income I guess. I'm just a middle-class earner. I do have rental properties where I live, but I also include the rent collections (minus deductions) as part of my gross and adjusted income. Our property tax is mostly the public schools which they put up brand new ones about ten years ago or so. Our property tax includes city and county taxes.

Having rental properties is very different and counting that as your tax burden is a very different story than what an average middle class person would deal with. Property taxes on rental properties is a business expense which is still tax deductible (although not for the average earner anymore).

It makes a difference in what percentage of my income I pay in property tax.