a penny saved is a penny earned is a penny taxed

[MAC]

our nation faces a $2.3 trillion fed budget this year

thats
$2,300,000,000,000.00

our census shows some estimated numbers based on households (http://factfinder.census.gov/servlet/QTTable?ds_name=D&geo_id=D&qr_name=ACS_C2SS_EST_G00_QT03&_lang=en)


total house holds >>>104,819,002

their income breaks down like this:
-----------------------------------------------
Less than $10,000 >>> 9,790,454

$10,000 to $14,999 >>> 6,971,175

$15,000 to $24,999 >>> 14,036,218

$25,000 to $34,999 >>> 13,499,899

$35,000 to $49,999 >>> 17,193,083

$50,000 to $74,999 >>> 20,100,827

$75,000 to $99,999 >>> 10,489,213

$100,000 to $149,999 >>> 8,120,578

$150,000 to $199,999 >>> 2,343,556

$200,000 or more >>> 2,273,999
-------------------------------------------------

now I take the middle of each of those income ranges and the number of households.

households----income----------41% tax
2273999------$200000----$186,467,918,000.00
2343556------$175000----$168,150,143,000.00
8120578------$125000----$416,179,622,500.00
10489213------$87500----$376,300,516,375.00
20100827------$62500----$515,083,691,875.00
17193083------$42500----$299,589,471,275.00
13499899------$30000----$166,048,757,700.00
14036218------$20000----$115,096,987,600.00
6971175--------$12500-----$35,727,271,875.00
9790454---------$5000------$20,070,430,700.00

------------------------------$2,298,714,810,900.00

gee…...that’s 41% tax on total household income to make $2.3 trillion,
…..so much for a flat income tax on personal income with THIS gov’t huh?

At the current 2002 income tax rates (http://www.jetter.com/taxtables.pdf)

10%-------0 – 12,000.
15%-------12,001 – 46,7000
27%-------46,701 – 112,850
30%-------112,851 – 171,950
35%-------171,951 – 307,050
38.6%-----307,050+

(naturally THESE #’s don’t match the census bureau’s criteria…)
oh well lets see what my spread sheet says now

households---income------current tax rates
2273999-----$200000---$175,552,722,800.00---39%
2343556-----$175000---$143,542,805,000.00---35%
8120578-----$125000---$304,521,675,000.00---30%
10489213-----$87500---$247,807,657,125.00---27%
20100827-----$62500---$339,201,455,625.00---27%
17193083-----$42500---$109,605,904,125.00---15%
13499899-----$30000-----$60,749,545,500.00---15%
14036218-----$20000-----$42,108,654,000.00---15%
6971175-------$12500------$8,713,968,750.00---10%
9790454--------$5000-------$4,895,227,000.00---10%

-104819002-------------$1,436,699,614,925.00

Uhoh….that’s $900,000,000,000.00 too little

Why did I do this?

Because I’m sick of hearing that the corporations don’t pay taxes cause they are greedy and that the $0.40 on each gallon of gas isn’t a CRUTCH our gov’t leans on

And that tax the rich shit? In a tax system with loopholes?
Does anyone REALLY think that bill gates and ross perot are gonna pay the other $900, billion?
add that up
at 38.6% $900 Billion represents another $2.33 trillion of taxed income all by itself. at hi speak bill gates stock was worth over $36 billion, if that was INCOME and he paid taxes on it today we'd need 7 of him to cover the difference I just noted.

Companies HIDE their income and are taxed so as to keep them OUT of the new burgeoning international market. It is cheaper to produce something in china and ship it to the boats, pack it, ship it across the whole freaking ocean, unload it, put it on another truck and ship it to a warehouse, then out to stores with a new tax and tariff added every step of the way than it is to manufacture it right here?

Meanwhile Dubya has just QUADRUPLED the budget we had 20 years ago
Go look it up
It was $500,000,000,000.00 under Reagan. (That’s Billion if you can’t count zeros)

So lets go to war with country’s we buy from and sell nothing too.

I am interested in liberating our economy from a cruel tyrannt who threatens to use his weapons of mass destruction on his own ppl.

[SimpleSimon]

Bravo!

Well said!

[Cruise Director]

Mine isn't as long or thought out, but why wouldn't we just eliminate income tax all together and just raise the sales / use tax? That way everybody pays for what they use or consume while those who are more frugal and economical would save dollars?

[MAC]

cruise, I could agree or argue that
but regardless,

>>>if we only did sales/use tax for consumers (and not businesses)

>>>if we ASSUME there is TWICE as much income as is being measured by census reports on households in the US (under-the-table-contractors, cash-only-illegal immigrants, trust funds, etc)

>>>if we assume that all those ppl spend EVERY DIME they make and save or invest NOTHING

we would need a 20% sales tax to cover $2.3 trillion

so taxing business is sorta necessary....AND its the #2 thing that cuts into their ability to compete...which means the gov't levys tariffs and taxes on imports to raise prices to keep our companies comeptetive here at home...which si actually mor eincome for them...until WE, the consumers, quit buying......then they have to raise our taxes to make up for the $$ they aren't getting

its called a false economy and failure is eminent

BTW: #1 thing that cuts a companies ability to compete is our paychecks vrs our productivity.

[Cruise Director]

The tax should apply to businesses as well. Businesses are as large or larger consumers of goods and services as any person could be.

[Billyman]

Thank you Mac.

I think my head is going to explode.

Ever seen Scanners?http://billyman24.homestead.com/files/errrr.gif