Why American Workers Pay Twice As Much In Taxes As Wealthy Investors

[skews13]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

 

[Mikeoxenormous]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

At one time I was just an American Worker, doing 40 hours a week at a Home Depot, making just over minimum wage, since I got out of the military about 3 months before. But instead of just bitching and moaning how unfair my life was, I was offered to participate in the Home Depot Stock Purchase Plan, where I could donate 10% of my $7.00 an hour and bought up as much stock as I could get per year. After 3 years I was offered a chance to go over to Saudi Arabia for 5 1/2 years making $70,000 a year with no taxes, was buying up Home Depot and McDonnell Douglas stock as much as I could with my earnings, and came back with a small fortune. I am getting dividends just like those 1%ers, making me a 1%er and anyone else could be a 1%er, all you have to do is "just do it". But there will always be the liberal losers, who wont take a chance, and rely on the gubermant to take care of them. It is just their way.

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By the way, my neighbors are in the 1% also, as winners tend to attract winners, while whiners and losers attract misery and poverty.

 

[BlindBoo]

All income should be taxed at the same rate regardless how it was earned.

 

[Conservative65]

All income should be taxed at the same rate regardless how it was earned.

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

 

[Mikeoxenormous]

All income should be taxed at the same rate regardless how it was earned.

Why does it have to be income, why not a consumption tax where everyone pays their FAIR SHARE?

 

[BluesLegend]

You libs are just jealous.

 

[BlindBoo]

All income should be taxed at the same rate regardless how it was earned.

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

I don't think so.

 

[Conservative65]

All income should be taxed at the same rate regardless how it was earned.

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

I don't think so.

So equality only applies when you want it to apply? It's OK, the pittance you'd supply if what I asked happened wouldn't amount to enough to buy a $.25 piece of candy.

 

[Darkwind]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.

You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

You're right. Its horrible.

Wage taxation needs to be reduced to fall in line with investment income taxation rates.

I urge you to write to your President and Congress critter to do just that.

 

[Yarddog]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

 

[TNHarley]

All income should be taxed at the same rate regardless how it was earned.

And it should be the same rate across the board

 

[BluesLegend]

Just relax you rich hating leftists, ALL investments are eventually taxed to shit. I recommend you look into inheritance taxation.

 

[BlindBoo]

All income should be taxed at the same rate regardless how it was earned.

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

I don't think so.

So equality only applies when you want it to apply? It's OK, the pittance you'd supply if what I asked happened wouldn't amount to enough to buy a $.25 piece of candy.

They pay the same amount as everyone else for the income they earn. That is on the first 9275 folks making a million dollars a year still pay on only 10% on that. Then they get taxed at 15% for income between 9276 and 37,650. And then 25% on the next 91,150 and so on.....

 

[Conservative65]

All income should be taxed at the same rate regardless how it was earned.

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

I don't think so.

So equality only applies when you want it to apply? It's OK, the pittance you'd supply if what I asked happened wouldn't amount to enough to buy a $.25 piece of candy.

They pay the same amount as everyone else for the income they earn. That is on the first 9275 folks making a million dollars a year still pay on only 10% on that. Then they get taxed at 15% for income between 9276 and 37,650. And then 25% on the next 91,150 and so on.....

While half of the country pays no income taxes at all. I thought you lefties believed living in this country involved contributing to society? Guess not.

 

[BlindBoo]

All income should be taxed at the same rate regardless how it was earned.

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

I don't think so.

So equality only applies when you want it to apply? It's OK, the pittance you'd supply if what I asked happened wouldn't amount to enough to buy a $.25 piece of candy.

They pay the same amount as everyone else for the income they earn. That is on the first 9275 folks making a million dollars a year still pay on only 10% on that. Then they get taxed at 15% for income between 9276 and 37,650. And then 25% on the next 91,150 and so on.....

While half of the country pays no income taxes at all. I thought you lefties believed living in this country involved contributing to society? Guess not.

I bet you think they're all living high on the hog too huh?

 

[BlindBoo]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

 

[BlindBoo]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

If you lose you can write off the loss can't you? It's still income. If we're going to tax income it should be all income regardless of the source.

 

[Dont Taz Me Bro]

Let’s say you and I are neighbors. You’re an emergency room doctor, and I don’t work, thanks to a pile of money my grandparents left me.


You spend your days and nights stitching up gunshot wounds and helping children survive asthma attacks. I’ve gotten really good at World of Warcraft, winning Ebay auctions, and frying shishito peppers to just the right crispiness.

Let’s also say we both report $300,000 in income to the Internal Revenue Service this year. Who pays more in taxes?

You do, by a lot. You owe the IRS about $38,500 more, assuming each of us pays the maximum with no special deductions. I also have more flexibility to lower my burden with tax planning strategies and other tricks, and I get to skip about $24,000 in payroll taxes that you and your employer must fork over each year.

Why American Workers Pay Twice as Much in Taxes as Wealthy Investors

And yet I guarantee what ever tax reform plan the Congress and president come up with you'll oppose.

 

[Conservative65]

Shouldn't everyone pay the same percentage in taxes on their income regardless of how much they make?

I don't think so.

So equality only applies when you want it to apply? It's OK, the pittance you'd supply if what I asked happened wouldn't amount to enough to buy a $.25 piece of candy.

They pay the same amount as everyone else for the income they earn. That is on the first 9275 folks making a million dollars a year still pay on only 10% on that. Then they get taxed at 15% for income between 9276 and 37,650. And then 25% on the next 91,150 and so on.....

While half of the country pays no income taxes at all. I thought you lefties believed living in this country involved contributing to society? Guess not.

I bet you think they're all living high on the hog too huh?

Irrelevant. Not concerned with how they're living but whether or not they're contributing to the society you leftists say everyone living in it should do. However, a family of four doesn't pay a dime in income taxes until the family income is $48,300. Then, the amount of income taxes is a whopping $1. That $48,300 is right at 2x the poverty level for that size family.

 

[Conservative65]

All income should be taxed at the same rate regardless how it was earned.

Investment is a risk, because you can also lose. But i believe Investment is encouraged by giving a tax break.
When people invest it also creates capital for building, which creates jobs. It's also a free country and anyone who works for a living can participate in this thing called "investing" and they can also benefit from those tax breaks.

If you lose you can write off the loss can't you? It's still income. If we're going to tax income it should be all income regardless of the source.

Losses and gains are the same thing? If you're going to do that, we need to take all these people paying no income taxes due to their family makeup and stop letting them take deductions and exemptions for existing.