AP POLL: How to pay for health overhaul? Tax the rich

Started by garbon, November 17, 2009, 04:24:37 PM

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Scipio

Quote from: Tyr on November 17, 2009, 05:23:21 PM
Doesn't the US have really low taxes on the rich right now?
We have really low taxes on pretty much everybody right now.

Except in places like MS, where we have a very regressive sales tax.
What I speak out of my mouth is the truth.  It burns like fire.
-Jose Canseco

There you go, giving a fuck when it ain't your turn to give a fuck.
-Every cop, The Wire

"It is always good to be known for one's Krapp."
-John Hurt

crazy canuck

Quote from: Admiral Yi on November 17, 2009, 05:53:31 PM
Quote from: crazy canuck on November 17, 2009, 05:46:48 PM
Isnt payroll tax the same thing as income tax - its just a prepayment on income tax isnt it.  If so, all Hans is saying is that a certain percentage dont have to pay anything more then what they have already paid at the end of the tax year.
You're thinking of withholding.  As Fredo said payroll taxes are the dedicated taxes for Social Security and Medicare/Medicaid.

Ah, ok.

Barrister

Quote from: crazy canuck on November 17, 2009, 05:53:15 PM
Here is the link for everyone else.  Alberta has a flat 10% tax...

http://www.cra-arc.gc.ca/tx/ndvdls/fq/txrts-eng.html

The chart for Manitoba:

Quote10.8% on the first $31,000 of taxable income, +
12.75% on the next $36,000, +
17.4% on the amount over $67,000

Now I remember why I left the damn place... <_<
Posts here are my own private opinions.  I do not speak for my employer.

DGuller

Quote from: Zanza on November 17, 2009, 05:46:30 PM
Quote from: Sheilbh on November 17, 2009, 05:39:20 PM
Quote from: Hansmeister on November 17, 2009, 05:30:08 PM
Actually the US only taxes the rich.  The bottom 47% pay no taxes at all.  Since income for the rich tends to be highly volatile, so is our tax system.
I've read that statistic before.  It's absolutely ridiculous.
I've read similar numbers for Germany.

The 10% highest income earners pay more than 50%.

The 25% highest income earners pay more than 80%.

The 50% lowest income earners pay 4.3%.
I hate these types of statistics.  In US they're mostly used to make a point about how heavily taxed the rich are, even by "reputable" papers such as WSJ.  The problem is that these numbers by themselves actually say nothing about the progressivity of the tax system, it's a mathematical fact even before you consider the complications such as taxes other than federal income tax.  They do however make for a very dramatic reading.

Sheilbh

Quote from: Zanza on November 17, 2009, 05:46:30 PM
I've read similar numbers for Germany.

That's fine though.  What I have problems with is what the situation was in Ireland (I believe they're changing tack now) and possibly the US in which the personal allowance is so high that it effectively removes a large proportion of people from paying tax at all.
Let's bomb Russia!

crazy canuck

Quote from: Sheilbh on November 17, 2009, 05:57:27 PM
Quote from: Zanza on November 17, 2009, 05:46:30 PM
I've read similar numbers for Germany.

That's fine though.  What I have problems with is what the situation was in Ireland (I believe they're changing tack now) and possibly the US in which the personal allowance is so high that it effectively removes a large proportion of people from paying tax at all.

What is the problem with that?

Sheilbh

Quote from: Barrister on November 17, 2009, 05:55:52 PM

Now I remember why I left the damn place... <_<
The UK has these numbers on top of your personal allowance of £6,475:
Quote0 - £2,440 (savings only)     10 per cent (starting rate for savings)
0 - £37,400    20 per cent (basic rate)
Over £37,400    40 per cent (higher rate)
Let's bomb Russia!

Barrister

Quote from: crazy canuck on November 17, 2009, 05:58:47 PM
Quote from: Sheilbh on November 17, 2009, 05:57:27 PM
Quote from: Zanza on November 17, 2009, 05:46:30 PM
I've read similar numbers for Germany.

That's fine though.  What I have problems with is what the situation was in Ireland (I believe they're changing tack now) and possibly the US in which the personal allowance is so high that it effectively removes a large proportion of people from paying tax at all.

What is the problem with that?

The 'problem' I've heard is that when you remove a significant number of people from paying any taxes whatsoever it encourages an "us against them" mentality, as opposed to "we're all in this together, paying our fair share".
Posts here are my own private opinions.  I do not speak for my employer.

Sheilbh

Quote from: crazy canuck on November 17, 2009, 05:58:47 PM
What is the problem with that?
I don't think the cost of society should fall on a narrow section.  Though I think our personal allowance is too small.
Let's bomb Russia!

garbon

Quote from: Scipio on November 17, 2009, 05:54:34 PM
We have really low taxes on pretty much everybody right now.

Except in places like MS, where we have a very regressive sales tax.

Sales tax is not good here. It's 9.5 in SF proper. Over 10 in some cities. I believe Chicago is over 10 as well.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

crazy canuck

#40
Quote from: Sheilbh on November 17, 2009, 06:00:07 PM
Quote from: Barrister on November 17, 2009, 05:55:52 PM

Now I remember why I left the damn place... <_<
The UK has these numbers on top of your personal allowance of £6,475:
Quote0 - £2,440 (savings only)     10 per cent (starting rate for savings)
0 - £37,400    20 per cent (basic rate)
Over £37,400    40 per cent (higher rate)

The 40% has to be taken as the combination of our combined Federal and Provincial rates.  You are still paying less then some poor sod in Manitoba.

edit: and you are paying less then me! :mad:

Ed Anger

Stay Alive...Let the Man Drive

Zanza

#42
Here is our federal income tax progression. We don't have state income taxes. It's actually not really brackets, but rather a formula that changes once you hit the next bracket. And it jumps to 45% for income over 250k Euro.


EDIT: blue is marginal, green is average.

Scipio

Quote from: garbon on November 17, 2009, 06:01:31 PM
Quote from: Scipio on November 17, 2009, 05:54:34 PM
We have really low taxes on pretty much everybody right now.

Except in places like MS, where we have a very regressive sales tax.

Sales tax is not good here. It's 9.5 in SF proper. Over 10 in some cities. I believe Chicago is over 10 as well.
Most of those exempt groceries.  Not MS.
What I speak out of my mouth is the truth.  It burns like fire.
-Jose Canseco

There you go, giving a fuck when it ain't your turn to give a fuck.
-Every cop, The Wire

"It is always good to be known for one's Krapp."
-John Hurt

crazy canuck

Quote from: Barrister on November 17, 2009, 06:01:13 PM
The 'problem' I've heard is that when you remove a significant number of people from paying any taxes whatsoever it encourages an "us against them" mentality, as opposed to "we're all in this together, paying our fair share".

I dont understand that.  Increasing the basic exemption lowers my tax bill also.