in my opinion, richers hired "great" accounting experts & always deduct over half of their income. so, their taxable income is much less than total received $$$$$$$ [income]. this is why you feel they paid very low %.
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游客IP:12.250.185.*发布于 2013-01-02 09:038 楼#
to 第 <font size="3">6</font> 楼<br> <br>Btw, they may not be rich people, just hard working high income families. Our tax policy never tax wealth as long as there is no transaction. You could be rich and pay no taxes (no NEW money flow in) or poor (no assets and spend all) to pay high taxes.<br> <br>So it is not about taxing rich, but taxing productive, hard working people.<br>
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游客IP:12.250.185.*发布于 2013-01-02 08:577 楼#
to 第 <font size="3">6</font> 楼<br> <br>Be precise, this is the marginal tax rate, not the total rate. However, there is less and less incentive to work once you reach that point. This is not pro growth tax policy. In California, the marginal state tax rate has just been raised to 13.3%. So let's see how many high income professionals will move out of California to states like Texas which has no income taxes. That may be why Apple and the other silicon valley tech companies are building new R&D centers in Texas.<br> <br> <br>
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amazon168发布于 2013-01-02 08:366 楼#
I never know that rich people pay 53.1% tax. Thanks for the info.
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游客IP:12.250.185.*发布于 2013-01-02 08:165 楼#
to 第 <font size="+0">4</font> 楼:<br> <br>Correct. However, what's the incentive for people at that levle to work for more? Usually, these are the most productive people in our society. Now we are making them to work for someone else, not themselves. <br> <br>When UK started to tax their millionairs at 50% tax rate, the millionairs just disappeared. They have to lower it to get them back.<br>
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游客IP:207.45.45.*发布于 2013-01-02 07:524 楼#
to 第 <FONT size=+0>3</FONT> 楼:<br>
only the part of income exceeding 400k/450k will pay 39% income tax. <br>
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游客IP:12.250.185.*发布于 2013-01-02 07:073 楼#
With this new tax rate: 39.5% + 6% GA state tax + 3.8% Obamacare tax + 0.9 Medicare surtax + 2.9 old medicare tax = 53.1%, the most productive members of our society becomes the servents of poor/non working people. What would be the incentive to work hard anymore?<br>
作者:amazon168 时间:2013年01月02日 05:03 查看全文