Take the income tax quiz!!!

[SpidermanTuba]

For the poll question above:


Consider a hypothetical tax system where they are two brackets.

up to and including $100,000 = 15%
above $100,000 = 30%

Consider two taxpayers. Taxpayer A made $100,000 and taxpayer B made $100,001. How much more in taxes did B pay than A?

 

[Mr. Peepers]

I think I got it right. Do I get a cookie?

 

[Oldandtired]

you misread what I was thinking....intentional....maybe.......but you misread what I was thinking.

If you look back, I soecifically said "the way thge tax code was"...and then I said that I was told the 3% for 250K was different.

Stop being an ass.

 

[Dr.Traveler]

For the poll question above:


Consider a hypothetical tax system where they are two brackets.

up to and including $100,000 = 15%
above $100,000 = 30%

Consider two taxpayers. Taxpayer A made $100,000 and taxpayer B made $100,001. How much more in taxes did B pay than A?

100,001*.3-100,000*.15=Answer A.

Point being?

 

[Kex]

That's why there are more than 2 tax brackets.

 

[Oldandtired]

oh jeez....

 

[SpidermanTuba]

oh jeez....

See, some people don't get how taxes work. It would be nice if they didn't vote.

 

[Kex]

There is no perfect system, yeah sure making 1 cent more over the bracket will get you a bigger burden. Too bad person B didn't find good accountant to write something off.

 

[PatekPhilippe]

oh jeez....

See, some people don't get how taxes work. It would be nice if they didn't vote.

If they didn't vote the Democrats would never win a single election.

 

[Immanuel]

For the poll question above:


Consider a hypothetical tax system where they are two brackets.

up to and including $100,000 = 15%
above $100,000 = 30%

Consider two taxpayers. Taxpayer A made $100,000 and taxpayer B made $100,001. How much more in taxes did B pay than A?

100,001*.3-100,000*.15=Answer A.

Point being?

I know you are joking. At least I hope you are joking.

Under the U.S. Tax Code the answer would be .30

Taxpayer A taxes would equal 15,000 = 100,000 * .15

Taxpayer B taxes would equal 15,000.30 = (100,000 * .15) + (1*.30)

Of course that is assuming that the 100,000 and 100,001 are taxable wages and not gross or adjusted gross wages.

Under your tax theory one would be deeply penalized for making one extra dollar.

Immie

 

[Mr. Peepers]

Under the U.S. Tax Code the answer would be .30

Yay! I do get a cookie!

 

[Dr.Traveler]

For the poll question above:


Consider a hypothetical tax system where they are two brackets.

up to and including $100,000 = 15%
above $100,000 = 30%

Consider two taxpayers. Taxpayer A made $100,000 and taxpayer B made $100,001. How much more in taxes did B pay than A?

100,001*.3-100,000*.15=Answer A.

Point being?

I know you are joking. At least I hope you are joking.

Under the U.S. Tax Code the answer would be .30

Taxpayer A taxes would equal 15,000 = 100,000 * .15

Taxpayer B taxes would equal 15,000.30 = (100,000 * .15) + (1*.30)

Of course that is assuming that the 100,000 and 100,001 are taxable wages and not gross or adjusted gross wages.

Under your tax theory one would be deeply penalized for making one extra dollar.

Immie

This is a hypothetical situation. The reality is that with the massive amount of tax deductions, credits, loop holes, and shelters available the only person to blame for the $100,001 dollar tax payer paying so much more is... himself. If he wrote a check to a church, he could dip under that level easily.

If you're on the cusp of the bracket, and you end up in the higher bracket, that's your own poor planning. Period.

This reminds of the students that come begging for an "A" when they have an 89%. At some point you have to accept that your own poor planning put you in this mess.

The OP is trying to show that a progressive tax system is unfair... and he may have a case if it weren't for the enormous opportunities out there to encourage people to invest, give, etc, and end up in a lower bracket.

 

[SpidermanTuba]

100,001*.3-100,000*.15=Answer A.

Point being?

I know you are joking. At least I hope you are joking.

Under the U.S. Tax Code the answer would be .30

Taxpayer A taxes would equal 15,000 = 100,000 * .15

Taxpayer B taxes would equal 15,000.30 = (100,000 * .15) + (1*.30)

Of course that is assuming that the 100,000 and 100,001 are taxable wages and not gross or adjusted gross wages.

Under your tax theory one would be deeply penalized for making one extra dollar.

Immie

This is a hypothetical situation. The reality is that with the massive amount of tax deductions, credits, loop holes, and shelters available the only person to blame for the $100,001 dollar tax payer paying so much more is... himself. If he wrote a check to a church, he could dip under that level easily.

If you're on the cusp of the bracket, and you end up in the higher bracket, that's your own poor planning. Period.

This reminds of the students that come begging for an "A" when they have an 89%. At some point you have to accept that your own poor planning put you in this mess.

The OP is trying to show that a progressive tax system is unfair... and he may have a case if it weren't for the enormous opportunities out there to encourage people to invest, give, etc, and end up in a lower bracket.

So you answered 'A'?

You probably think you can increase your total take home pay by making cash donations to churches. If so - continue to donate to charity, that's great - but please don't vote.

 

[SpidermanTuba]

Are people seriously this stupid?

 

[rightwinger]

100,001*.3-100,000*.15=Answer A.

Point being?

I know you are joking. At least I hope you are joking.

Under the U.S. Tax Code the answer would be .30

Taxpayer A taxes would equal 15,000 = 100,000 * .15

Taxpayer B taxes would equal 15,000.30 = (100,000 * .15) + (1*.30)

Of course that is assuming that the 100,000 and 100,001 are taxable wages and not gross or adjusted gross wages.

Under your tax theory one would be deeply penalized for making one extra dollar.

Immie

This is a hypothetical situation. The reality is that with the massive amount of tax deductions, credits, loop holes, and shelters available the only person to blame for the $100,001 dollar tax payer paying so much more is... himself. If he wrote a check to a church, he could dip under that level easily.

If you're on the cusp of the bracket, and you end up in the higher bracket, that's your own poor planning. Period.

This reminds of the students that come begging for an "A" when they have an 89%. At some point you have to accept that your own poor planning put you in this mess.

The OP is trying to show that a progressive tax system is unfair... and he may have a case if it weren't for the enormous opportunities out there to encourage people to invest, give, etc, and end up in a lower bracket.

If he wrote a $1 check to the church, he would be out 70 cents

The OP doesn't show that a progressive tax is unfair.
A pays .150000 of his income
B pays .150028

Not much difference

 

[Oldandtired]

I'm done.

Moving to Canada.

How does a leech dress? Anyone know?

 

[Dr.Traveler]

For the poll question above:


Consider a hypothetical tax system where they are two brackets.

up to and including $100,000 = 15%
above $100,000 = 30%

Consider two taxpayers. Taxpayer A made $100,000 and taxpayer B made $100,001. How much more in taxes did B pay than A?

100,001*.3-100,000*.15=Answer A.

Point being?

I know you are joking. At least I hope you are joking.

Under the U.S. Tax Code the answer would be .30

Taxpayer A taxes would equal 15,000 = 100,000 * .15

Taxpayer B taxes would equal 15,000.30 = (100,000 * .15) + (1*.30)

Of course that is assuming that the 100,000 and 100,001 are taxable wages and not gross or adjusted gross wages.

Under your tax theory one would be deeply penalized for making one extra dollar.

Immie

Re-read your comment. The way he's laid it out, the answer is a. You are correct, under the US tax code, which is a wonderful example of a piecewise defined function, the answer is $0.30.

I'm just curious what the point of the OP is. The hypothetical situation laid out in no way describes reality, so what is the point of getting worked up by it?

 

[Kex]

Something tells me that OP fucked up on his hypothetical situation. According to it the answer would be A, but apparently there is lots of stuff everyone had to guess.

 

[Kex]

I'm done.

Moving to Canada.

How does a leech dress? Anyone know?

You are willing to live with Socialized medicine? Gee, you're a commie

 

[AvgGuyIA]

I know you are joking. At least I hope you are joking.

Under the U.S. Tax Code the answer would be .30

Taxpayer A taxes would equal 15,000 = 100,000 * .15

Taxpayer B taxes would equal 15,000.30 = (100,000 * .15) + (1*.30)

Of course that is assuming that the 100,000 and 100,001 are taxable wages and not gross or adjusted gross wages.

Under your tax theory one would be deeply penalized for making one extra dollar.

Immie

This is a hypothetical situation. The reality is that with the massive amount of tax deductions, credits, loop holes, and shelters available the only person to blame for the $100,001 dollar tax payer paying so much more is... himself. If he wrote a check to a church, he could dip under that level easily.

If you're on the cusp of the bracket, and you end up in the higher bracket, that's your own poor planning. Period.

This reminds of the students that come begging for an "A" when they have an 89%. At some point you have to accept that your own poor planning put you in this mess.

The OP is trying to show that a progressive tax system is unfair... and he may have a case if it weren't for the enormous opportunities out there to encourage people to invest, give, etc, and end up in a lower bracket.

If he wrote a $1 check to the church, he would be out 70 cents

The OP doesn't show that a progressive tax is unfair.
A pays .150000 of his income
B pays .150028

Not much difference

But he would be "in" with God.