"Money". Is it Worth it?

[Happy Monkey]

Originally Posted by Perry Winkle

Not within the state, right?

There are usually local taxes as well, so the sum of federal, state, and local taxes varies by location.

[TheMercenary]

Originally Posted by Perry Winkle

The government.

Luxury, sales and estate taxes are a few. Another is income.

There are several tax brackets below $250k. Those people are at different levels of "not top earners." Everyone above that is a "top earner." But there is a huge difference between the couple of doctors that is bringing home $250k per year and the people bringing home $1M (and $10M, and $100M, etc).

Which is why your and the governments $250k number fails.

Making $250k per year where I live (Helena, MT) is an incredible living, in Manhattan it is still a damn good living.

Is that a joke? $250 might get you a 900 sq ft apt

On the other hand, while $50k per year in Helena is a good living it's much harder to live on in Manhattan, and the quality of life is much lower.

Depends on your definition of "quality of life".

I really think Federal and State income tax rates should vary by where you live as well as by income.

BS. Everybody should pay a percentage of their income. If you 10k a year and if you make 500k a year, you should pay a percent.

[Perry Winkle]

Originally Posted by TheMercenary

Which is why your and the governments $250k number fails.

Never said I thought it was a reasonable number. It's just the number everyone talks about and the government seems to have fixated upon.

Originally Posted by TheMercenary

Is that a joke? $250 might get you a 900 sq ft apt

Okay then, maybe a decent living. You aren't hurting for the essentials in any case.

Originally Posted by TheMercenary

Depends on your definition of "quality of life".

I agree.

Based on what you said above, you can get an apartment that is 180 sq. ft. on $50k per year in Manhattan. In Montana, that's a 1,200 sq. ft. apartment most places, a decent vacation and plenty of recreation. Anyway, whatever monetary concerns your "quality of life" entails can probably be met here with $50k per year (unless you need a Lamborghini and a second home in Aspen).

Originally Posted by TheMercenary

BS. Everybody should pay a percentage of their income. If you 10k a year and if you make 500k a year, you should pay a percent.

First, my thoughts can't be bullshit. They are my own and you have no way to verify them. I'm playing with an imaginary scheme here. If you don't like it, I don't care--I'm not emotionally invested.

Second, I think it would be awesome if we had a little earth in a bubble where we could accurately run simulations with variables like this changed. Eventually, we may get there.

So you think it's a good idea for it to be a fixed percent across the board?

If I'm earning at less than half the poverty line I should pay the same, let's say, 10% as the guy making $500k per year?

In the extreme example, you could drop my tax completely and just up the $500k person's rate by .000002%. That extra thousand dollars might make an enormous difference in my life. The rich guy isn't going to be impacted much at all.

I think the tax percentage should be based on current income in relation to other incomes in your area and the potential to make more money in the prevailing economic conditions.

I'm a software developer so these little complex thought experiments are fun for me :P

[TheMercenary]

Originally Posted by Perry Winkle

First, my thoughts can't be bullshit. They are my own and you have no way to verify them. I'm playing with an imaginary scheme here. If you don't like it, I don't care--I'm not emotionally invested.

Yea, same on my end.

Second, I think it would be awesome if we had a little earth in a bubble where we could accurately run simulations with variables like this changed. Eventually, we may get there.

Don't count on it.

So you think it's a good idea for it to be a fixed percent across the board?

Yes.

If I'm earning at less than half the poverty line I should pay the same, let's say, 10% as the guy making $500k per year?

Yes.

In the extreme example, you could drop my tax completely and just up the $500k person's rate by .000002%. That extra thousand dollars might make an enormous difference in my life. The rich guy isn't going to be impacted much at all.

To bad, it makes you invested.

I think the tax percentage should be based on current income in relation to other incomes in your area and the potential to make more money in the prevailing economic conditions.

So it should change as economic conditions change? Haaaaaaaaaaa......

I'm a software developer so these little complex thought experiments are fun for me :P

I am not, and they are equally entertaining to me....

[Clodfobble]

Originally Posted by TheMercenary

To bad, it makes you invested.

Also makes the rich guy not particularly invested. Certainly far less than the poor guy.

I don't necessarily have a problem with the idea that everyone should pay something, but that's not mutually exclusive to the idea of a progressive taxation scale either.

[TheMercenary]

Originally Posted by Clodfobble

Also makes the rich guy not particularly invested. Certainly far less than the poor guy.

I don't necessarily have a problem with the idea that everyone should pay something, but that's not mutually exclusive to the idea of a progressive taxation scale either.

I can't support the notion of progressive taxation. It would be smarter to flatten it out and remove the deductions that most really rich people get to takes. What ever "rich" is....

[Perry Winkle]

Originally Posted by TheMercenary

I can't support the notion of progressive taxation. It would be smarter to flatten it out and remove the deductions that most really rich people get to takes. What ever "rich" is....

With a system sufficiently simple we could get rid of the IRS, and outsource to commercial collections agencies.

[xoxoxoBruce]

Good idea, then the trashman could break some fingers and kneecaps on his regular route. The trashman knows your standard of living better than most. Save fuel, very efficient, green solution.