|
|
|
|
|
|
by jack-r-abbit
4502 days ago
|
|
|
Whose historically low tax rates? As long as I've been working it has been well known that when you make more, you eventually jump up to the next tax bracket which has a higher tax rate. [1] A single person making $10K (taxable income) in 2013 paid $1,058 in taxes... or ~10%. A single person making $100K (taxable income) in 2013 paid $21,293 in taxes... or ~21%. If 10 people each made $10K, they collectively made $100K and paid $10,580 in taxes... which is still less than half of what the one person who made $100K on their own paid. [1] http://www.irs.gov/pub/irs-pdf/i1040tt.pdf Edit: I did just get my taxes done so I might be a little more bitter about the topic than I usually am. But the numbers suck. |
|
|
In the real world everyone pays the same $5 for a hamburger,
A single person making $10k has money left over to buy a little less than 5 hamburgers a day. A single person making $100k has enough money left over to buy a little more than 43 hamburgers a day. 10 people who make $10k can still only afford 50 hamburgers a day between them after tax, only a little bit more than the guy making $100k.
That's why we have a progressive tax system. We think the guys making $10k should be able to eat and the guy making $100k probably shouldn't eat 8 times as many hamburgers as the guy who makes $10k.
C'mon. I know you're aware that the rates for the tax brackets have changed over time. Surely you know that the top tax bracket was well over 50% for most of the 20th century, and is now lower than that.