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Old Mar 29, 2003 | 04:59 AM
  #36  
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Odysseus
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Joined: Mar 2003
Posts: 81
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From: Newville PA
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Originally posted by DVPGSR
Not true...the top tax bracket is already around 40% for income tax alone. Factor in that if you are in that tax bracket your property taxes are most likely considerably higher, not to mention all of the increased taxes on utilities that you have and you are probably paying over 50% of your pre-tax dollars to taxes.
My only argument here is with the above. See, when incomes become extreme, I'm talking like over a mill/year, the tax bracket may be 39.6%, but taxes on utilities, property, driving expenses... are so miniscule in comparison to income level, they may only raise total tax burden to 41%. Conversely, someone making minimum wage, who drives, has a phone, electricity... (and these things are needed just in order to keep the job) may pay 50% of their income to the govt in overall expenses, taxes and fees.


As for the rest, I used your link and do see your point. It seems to me that it is the middle class who is getting skrewed.
I definately agree that the jumps in tax brackets from 15 to 28% and from 31 to 36% are drastic and that the income levels for every bracket are way too low.

My wife and I are in the 31% bracket and feel we are paying too much. If we made 2k less this year, we would be in the 28% bracket and would probably be keeping more of our money.

Thus far, however, my and your tax rates have not changed. You are not currently at your proposed 23%. Is this going to happen and when? I hope it happens soon and not at the end of the 10 year plan.

Also, maybe you have a link outlining W's tax policy. Maybe, and I mean maybe, I am being a bit hypercritical regarding his tax policy. Particularly in that I may be reacting mostly to conservative policy of the past, rather that what is going on now. I am always open to revieving and revising my perspective. Therefore, I am willing to give a read and investigate further.