income

  1. S

    Sales taxes are less regressive than flat rated income taxes.

    Sales taxes are less regressive than flat rated income taxes. Due to political and accounting difficulties, methods of calculating net incomes that has or may likely to be enacted into federal tax regulations significantly greater understate taxable incomes of wealthier taxpayers. This remains...
  2. S

    Higher income earners’ children are more valuable to our nation?

    Higher income earners’ children are more valuable to our nation? Regulations determine the values of higher income earners’ dependents are of greater per capita values than those of lesser earners. Income tax payers are generally entitled to a $3900 reduction from their taxable incomes...
  3. myp

    Want Federal income tax cuts? You will give the rich the greatest cuts

    But there is nothing wrong with that. People forget this wayyyy too much. The US has a progressive marginal Federal income tax system. That means that on the first $xx,xxx in income you pay x%, on the next $xx,xxx you pay a different x% and so on. This means that by making more money you will...
  4. myp

    Obama paid less income tax than Romney

    Not that it should matter (tax reform needs a bigger overhaul than looking at two people and proposing to raise one's income tax in my opinion), but it will. Oh, it will in the crazy world that is presidential elections...
  5. S

    Capital gains & income averaging.

    Capital gains & income averaging. Long term capital gains are not economically more or less beneficial than incomes derived from entrepreneurs’ steadily nurturing and reinvesting into their enterprises. I am not opposed to speculators but I’m opposed to using tax policy to favor any business...
  6. myp

    IGM forum survey on technology and income inequality

    Pretty strong consensus that technological advancement has affected different skill groups differently. http://www.igmchicago.org/igm-economic-experts-panel/poll-results?SurveyID=SV_0IAlhdDH2FoRDrm
  7. N

    Romney pays 15% income tax ... Half of what a working man pays

    http://finance.yahoo.com/news/buffett-blames-congress-romneys-15-155000898.html Last paragraph from above news article. "He makes his money the same way I make my money," Buffett said. "He makes money by moving around big bucks, not by straining his back or going to work and cleaning toilets...
  8. myp

    The flat (income) tax is a regressive tax

    Just wanted to put that out there since it seems like a lot of people still don't seem to understand that. There are two simple explanations behind it: 1) Value is subjective. A dollar to a rich person is not worth the same as a dollar to a poor one. 2) The above can really be summed into...
  9. myp

    Negative income tax - do you support it?

    Milton Friedman was a proponent of the negative income tax- a set nominal refund that everyone would get regardless of income class. This was his replacement for welfare as it would not reduce the incentive to work for money at any wage level. In Friedman-fashion, what to use the money on would...
  10. S

    Income tax's dedutions per taxpayers and dependents

    The income tax considerations per person were originally enacted to provide some tax relief for lower income earners; we can?t get blood from stones. Unfortunately the consideration is a per capita amount of deduction from taxable income rather than a credit applied to the income tax itself...