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by hellisothers
1182 days ago
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Instead of worrying about middle vs upper etc consider these things: - that is all income and it really is taxed at the rates described, it is crushing the amount of tax I/we pay as wage earners - CA (where those salaries exist) is really expensive, like $4500/mo for daycare, so despite having a high income it feels no higher than somebody making half as much elsewhere
- the truely wealthy derive their cash flow from investments which are taxed at half as much, or own businesses and deduct expenses to effecting 0% So the effect is if you have high income you are inescapably taxed very high (and are ineligible for almost all govt inventories) resulting in an effectively much lower cash flow, meanwhile the wealthy have a lower effective tax burden for the same or higher standard of living. |
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Ideally, I’d like to see an end to all silly credits, deductions, and exemptions and things like that.
It is absurd to me that you would want to not pay taxes on your daycare expenses. I think the proper solution is for the state to offer free of cost (actually free of cost, no hidden charges) daycare for all children. This is just the tip of the iceberg though. We are just overly against supporting all parents. All children, regardless of income or assets, should have access to WIC and ideally we should increase WIC age to eighteen. We should remove income, assets, means testing from all entitlement programs.
> the truely wealthy derive their cash flow from investments which are taxed at half as much, or own businesses and deduct expenses to effecting 0%
How can we fix this?