An example of a ten tier progressive tax system

[editec]

Oops! make that a 15 tiered progressive tax system

It's so damned hard to take a spread sheet onto this thread in any way that doesn't take hours of formating that I cannot show you the actual tax burdens, but

here's the EFFECTIVE RATES

0
0.05
0.0875
0.11875
0.1325
0.141875
0.1495
0.163
0.17225
0.20245
0.211225
0.226245
0.2331225
0.2466245
0.27331225
0.387331225​

As one example, somebody making $250,000 would end up paying $31,750 a year in Federal taxes.


Would this pay our bills?

Yeah, if we disallowed the various outrageous tax breaks that we keep giving different kinds of income, you be your ass it would.

 

[code1211]

Oops! make that a 15 tiered progressive tax system

It's so damned hard to take a spread sheet onto this thread in any way that doesn't take hours of formating that I cannot show you the actual tax burdens, but

here's the EFFECTIVE RATES

0
0.05
0.0875
0.11875
0.1325
0.141875
0.1495
0.163
0.17225
0.20245
0.211225
0.226245
0.2331225
0.2466245
0.27331225
0.387331225​

As one example, somebody making $250,000 would end up paying $31,750 a year in Federal taxes.


Would this pay our bills?

Yeah, if we disallowed the various outrageous tax breaks that we keep giving different kinds of income, you be your ass it would.

The income levels to go with the rates fell off.

Could supply those as well?

 

[Liberty]

marx would approve.

 

[AVG-JOE]

Oops! make that a 15 tiered progressive tax system

It's so damned hard to take a spread sheet onto this thread in any way that doesn't take hours of formating that I cannot show you the actual tax burdens, but

here's the EFFECTIVE RATES

0
0.05
0.0875
0.11875
0.1325
0.141875
0.1495
0.163
0.17225
0.20245
0.211225
0.226245
0.2331225
0.2466245
0.27331225
0.387331225​

As one example, somebody making $250,000 would end up paying $31,750 a year in Federal taxes.


Would this pay our bills?

Yeah, if we disallowed the various outrageous tax breaks that we keep giving different kinds of income, you be your ass it would.

I would prefer something even simpler and I'd REALLY prefer taxing commerce instead of income, but any change that recognizes this would be welcomed by this average Joe.

 

[iamwhatiseem]

I hope you are including those who have negative income burdens?
You know - people who get more back than they pay in?
This should go away also.

 

[CrusaderFrank]

Oops! make that a 15 tiered progressive tax system

It's so damned hard to take a spread sheet onto this thread in any way that doesn't take hours of formating that I cannot show you the actual tax burdens, but

here's the EFFECTIVE RATES

0
0.05
0.0875
0.11875
0.1325
0.141875
0.1495
0.163
0.17225
0.20245
0.211225
0.226245
0.2331225
0.2466245
0.27331225
0.387331225​

As one example, somebody making $250,000 would end up paying $31,750 a year in Federal taxes.


Would this pay our bills?

Yeah, if we disallowed the various outrageous tax breaks that we keep giving different kinds of income, you be your ass it would.

No family should be allowed to keep a nickel more than $50,000 in a metropolitan area and $25,000 in a rural area and even that might be too much