Would you mind paying $12,272.73 in taxes every year?

[toobfreak]

Until they outlive the balance.

It all balances out with those who never live to collect a dime.

 

[JohnDB]

It all balances out with those who never live to collect a dime.

A huge percentage of people die within two years of retirement...just saying. (Mostly men who don't have a plan)

I'm going to look up the number
Found the link

Why do Retirees Die Soon After Retirement?

Why do retirees die soon after retirement? There is no evidence that retirement necessarily equates to death. People still talk about it happening, however.

www.elderguru.com

 

[Concerned American]

Until they outlive the balance.

Very few people outlive the balance. Indeed, there are many parasites, aged 25-49, who drain the fund. If it was used for retirement as intended, the fund would be solvent.

 

[Toddsterpatriot]

When they say 60% of people don't pay federal income tax, that's true.

What they don't tell you is those people pay "payroll taxes." Taxes are removed from their checks before they ever see their pay.

They way they phrase it, it makes it seem like a lot of people are getting a free ride when they aren't.

What they don't tell you is those people pay "payroll taxes." Taxes are removed from their checks before they ever see their pay.

Gotta fund Social Security and Medicare somehow.

They way they phrase it, it makes it seem like a lot of people are getting a free ride when they aren't.

People who pay zero federal income tax aren't getting any kind of a free ride?

 

[Concerned American]

When you get a tax refund at the end of every year, they ARE getting a free ride.

Smart people figure out their tax liability and set their deductions so that they don't give the greedy fucks in D.C. an interest-free loan every year.

Not to mention the fact that they have to pay taxes next year on the refund that they already paid taxes on.

 

[Mikeoxenormous]

Actually booze taxes were the source of a lot of tax revenue, for both Fed and state govts. Income taxes came from Republicans, during the Civil War.

and went away after the Democrats got their asses handed to them. Then Woodrow Wilson reenacted it, and it has stayed ever since.

Federal Income Tax of 1913 | Encyclopedia.com

Federal Income tax of 1913 Steven A. Bank Source for information on Federal Income Tax of 1913: Major Acts of Congress dictionary.

www.encyclopedia.com

 

[MarathonMike]

The parents will have to pay.

The kids are still citizens.

I'm guessing you don't have kids. Do you know it costs about $200k minimum to raise a kid to his 18th birthday? Now you are going to stick the parents with AN ADDITIONAL $200K worth of taxes per kid?

 

[Hellokitty]

So America collects $4.05 trillion in taxes every year. And we have 330 million citizens.

4,050,000,000,000 / 330,000,000 = 12272.73

So each citizen, man, woman, child, infant, geezer has to pay $12,272.73 in taxes every year. If you have a wife and 2 kids that's $49,090.92 for all four of you.

Elon Musk would love this tax plan, so would the former Rush Limbaugh.

Sound fair?

How can we all be equal if some pay more then others?

 

[Toddsterpatriot]

It all balances out with those who never live to collect a dime.

It's going broke.....apparently doesn't balance out.

 

[toobfreak]

It's going broke.....apparently doesn't balance out.

Maybe it has something to do with the government raping and stealing massively from the fund while grossly mismanaging it.

 

[Toddsterpatriot]

Maybe it has something to do with the government raping and stealing massively from the fund while grossly mismanaging it.

Stealing? The Social Security Trust Fund invests in government bands.
When did the Federal government not pay on their bonds?

 

[Fort Fun Indiana]

Those ports have taxes and fees our government once lived solely off of.

There was no income tax....only import taxes.

Let that sink in for a bit.

Yes, we are better than that now and take care of our citizens. You are talking to simple history. No deep points to see here, everyone can move along.

 

[toobfreak]

Stealing? The Social Security Trust Fund invests in government bands.

Bonds. And yes, between 1968 and 1990, the SS fund was wide open to congress to help use it to balance the budget.

Since then, both parties have utterly failed to address the problem and fix it. The problem isn't people retiring and collecting the SS they are due, it is the fault of congress who, year after year, keeps kicking the can down the road refusing to fix SS to keep it liquid.

 

[Man of Ethics]

How high?

Millionaires and billionaires should pay about 70% to 90% of their bottom line income depending on the income.

 

[Toddsterpatriot]

Bonds. And yes, between 1968 and 1990, the SS fund was wide open to congress to help use it to balance the budget.

Since then, both parties have utterly failed to address the problem and fix it. The problem isn't people retiring and collecting the SS they are due, it is the fault of congress who, year after year, keeps kicking the can down the road refusing to fix SS to keep it liquid.

Bonds. And yes, between 1968 and 1990, the SS fund was wide open to congress to help use it to balance the budget.

Ummmmm....the government collects taxes and sells bonds to pay for spending.
When the SS fund collects more than it pays out, it invests in government bonds.
That's how it works. Selling bonds to the SS fund doesn't help balance the budget any more
than selling you a bond balances the budget.

The problem isn't people retiring and collecting the SS they are due, it is the fault of congress who, year after year, keeps kicking the can down the road refusing to fix SS to keep it liquid.

Fixing SS would mean collecting more payroll taxes and/or paying fewer benefits.
It has zero to do with the fund holding US debt.

 

[Toddsterpatriot]

Millionaires and billionaires should pay about 70% to 90% of their bottom line income depending on the income.

What bottom line income deserves 90% taxes?
Bezos has zero income on his Amazon stock, so he should pay $0, right?

 

[fncceo]

So America collects $4.05 trillion in taxes every year. And we have 330 million citizens.

4,050,000,000,000 / 330,000,000 = 12272.73

So each citizen, man, woman, child, infant, geezer has to pay $12,272.73 in taxes every year. If you have a wife and 2 kids that's $49,090.92 for all four of you.

Elon Musk would love this tax plan, so would the former Rush Limbaugh.

Sound fair?

87% of my income? No thanks!

The real question isn't if everyone should pay $12,000.

The real question is, "Should the government be collecting 4 Trillion?".

We could have half the corruption and mismanagement if they only collected 2 Trillion.

 

[Fort Fun Indiana]

The real question is, "Should the government be collecting 4 Trillion?".

Yes. More than that, even. Tax revenue is too low.

 

[fncceo]

Yes. More than that, even. Tax revenue is too low.

I would submit it is too high by approximately 3.98 Trillion.

 

[Fort Fun Indiana]

I would submit it is too high by approximately 3.98 Trillion.

Sure you would, but that comes from an emotional place. Pretty meaningless.