If I Make 50k a year...how much in total is fair to pay towards federal, state and local taxes in total...
how much is fair for my family to live on and save??
2007-03-18 15:27:51 · 9 answers · asked by gary l 3 in Politics & Government ➔ Other - Politics & Government
There should be no Federal or State income tax, rather a 10% flat tax on all goods and services you purchase. That way, if you don't spend, you save.
2007-03-18 15:31:35 · answer #1 · answered by Repeat Offender 2 · 4⤊ 3⤋
The higher your income, the lower the percent should be. Wealthy people drive the economy with their investments and those profits should be exempt from taxes. Right now that income is half of a working class income tax. It should be zero.
In other words a worker, let's say a policeman, fireman, or soldier, should be taxed as a regular worker. A guy like Donald Trump or Bill Gates gets most his income from stocks or real estate transactions. These are investments that help the economy so they shouldn't pay any taxes. That 15% capital gains tax costs billionaires a lot of money they could invest to make more money. A soldier is making just enough to make a living so he should be taxed at a higher rate because he isn't as important to the economy. At least that's the way it's been the past six years.
2007-03-18 22:44:47 · answer #2 · answered by Anonymous · 0⤊ 3⤋
Personally, I'd like to see a flat amount of 10% and no more deducted from our pay or pension checks. Anything more is robbery.
As to how much is fair for you and your family to live on and save..it depends on what part of the country you live in.
2007-03-18 22:38:38 · answer #3 · answered by Barry 6 · 1⤊ 1⤋
What it takes for you to live on and about 50% more is good enough... You can live on 25 K a year (presuming a family of 4) so I would say you should pay about 12.5K in taxes.
of course, that's personal opinion. And It should change depending on where you live, because of cost of living. And it does.
Flat taxes don't work, the curve system has been well accepted for ages. However, the steepness of the curve is debatable, if there isone is not at this point.
2007-03-18 22:34:09 · answer #4 · answered by The Big Box 6 · 0⤊ 3⤋
Flat Tax is a scam.
If you tax consumption, then you tax more the people who need their income to pay rent and food, and not the people who can save.
If I make 10 million a year from my trust fund, and spend only 500,000, then I'm only paying 10% tax on 5% of my income. Or .5% tax.
If I make 10 thousand a year from my McJob, and spend 10,000, then I'm paying 10% tax on 100% of my income, or 10% tax.... 20x more than the guy who is rich.
Americans are stupid
2007-03-18 22:40:29 · answer #5 · answered by zig z 2 · 1⤊ 2⤋
That is a toughy... Personally, I would like to see a set standard for everyone.. Example 10 percent.....This would be for everyone and no tax writeoffs... But, the federal government would not go along with this... It makes to much common sense... Big business runs the government and they would lose too much money...Many workers would lose their jobs because no one would have to call in to see what is a tax deduction. some day, maybe
2007-03-18 22:33:48 · answer #6 · answered by RETIRED 7 · 3⤊ 2⤋
Ask Slick Willy. He's the one who seems to know what people's so-called "fair share contribution" should be, and you can bet that it will probably be around 85 or 90 per cent, if not higher.
If Hillary gets in, watch out! They'll both operate as a team, just like they did the last time during the 8 year occupation, and you will not be able to afford to feed your family or do anything.
2007-03-18 22:31:42 · answer #7 · answered by Joseph C 5 · 3⤊ 3⤋
it should be voluntary, we'd see how many "patriots" there really were
2007-03-18 22:47:31 · answer #8 · answered by Anonymous · 1⤊ 1⤋
under $100,000 none, over $100000 all of it.
2007-03-18 22:58:23 · answer #9 · answered by ati-atihan 6 · 0⤊ 2⤋