Have you ever made a tax plan using Splitwise? If so, post it in the comments.
Why is split wise?
It lets you create a tax plan based on fixed criteria. Website or app.
ryne, the only thing I could find was an app the allows you to split a bill and track payments
Look up splitwise tax
My plan was:
60%. 1.5 mil+
I abolished the mortgage interest deduction, taxed capital gains as regular income, and used the "Buffet Rule" option.
so you believe that there should be a tax bracket where someone pays 60% of their earnings as taxes?
We've had 90 in the past, so yes I have no problem with it. When you make millions a year, there should be no problem with paying 60 percent of your income to taxes.
who has paid 90% taxes?
Have you ever seen America's tax rates from about 1930 to 1980. The rates were always from about the high 70s to the low 90s on the wealthy. Effectively, close to 50-60 percent.
let's keep this simple for me... keep it to one term, effective tax rate is what people end up paying (that's what I'm going with). so was the effective tax rate 50-60 or 70-90?
Effective was 50 to 60.
and you think that the amount of what someone earns is enough of a justification to have them pay almost 2/3 of that income to society?
without substantial changes to the services that are provided that would reduced my spending, like a true universal healthcare (not insurance), i would never support this. without those changes I don't thing anyone should be paying more than 1/3 of
Their income to taxes, especially since this effectively penalizes those that make above a certain amount. it disincentives people to strive for over a certain limit. not to mention w/o something in return for paying a substantial amount more, it is
akin to stealing, imo.
The rich want to make themselves richer. Tax rates are not going to significantly affect their drive to push for higher profits. With higher taxes, the main way that they can achieve higher profits is by reinvesting what they have in their workforce
Which in turn will help build the economy overall. The reduced money they take in will go to government programs which do create jobs and stimulate in the private sector. The key thing to remember about economic growth is demand.
you cannot justify taking more from "rich" by saying they can afford it, that's ludicrous. if you have a prob with investments & the economy then you incentivize the behavior you want people to engage in. punishing "bad behavior" doesn't work well.
and it didn't fix the problem. work the prob not the symptoms. if it's the wage gap then get people to change to conditions that favor an increasing wage gap. that in turn creates a fairness in many areas.
It isn't ludicrous, it's logical and common sense. If you also haven't noticed, we have significant debt problem at the moment.
& this suggestion doesn't fix the prob, it attempts to punish those you see as the perpetrators when in fact they simply played the game. *the game* is the problem, the environment that encourages the problems of income gaps, tax evasion, etc.
I have no problem with that either. What you fail to see or understand is that the entire system itself is flawed. The system of private investment and private ownership is solely focused on profits. Job creation factors in only to make more profits
Don't like the tax plan at all!
ryne, I agree. that's the game that needs to be fixed. moving from a shareholder focus to stakeholder focus would be a good move. punishing people is only going to anger and alienate which is the opposite of what we want.
In the short term this is necessary. Maybe not these rates, but sometimes progressive and high on the wealthy. I would agree to lower rates if we had a flexible, maximum wage.
maximum wage? lol, you're way to extreme for the majority of this country. it would NEVER fly to legislate a top wage for any private sector job.
It would be done on a flexible basis. Something like 1 to 50 pay differential instead of the current 1 to 273 that you see in most of the private sector.
This is lowest paid worker to CEO pay
it will never fly to take that decision out of the company's hands and place it in legislation. you can't tell a company with laws that it's not allowed to pay an employee whatever they feel is fair.
We have a minimum wage do we not? And safety requirements?
yes, those are old bandages. you are talking about new bandages. I would like to fix the problem instead of increasing the temp measures.
if all we ever do is focus on the bandages, actually healing the cut will continue to be ignored.
Bandages are a part of the solution in the short term.
but that's part of the problem, we ONLY focus on the bandages. we have to make a conscious decision to do otherwise if we actually want to achieve change and that will not happen if we continue as we have been. and honestly the bandages you are sugg
simply are too far left to be acceptable to the majority.
Changing the entire system is too far left for the majority at this point.
I'm not suggesting we do it all at once, but the small steps we make should be with the change in mind vs just trying to bandage a perceived or real inequality that is a result of playing the game well.
I think by the time people realize what will be necessary, there's going to be mass violence. Liberals are too busy at this point believing in an economic model of social capitalism that no longer exists or will exist.
And, conservatives are continuing to promote a form of capitalism that will result in ecological crisis and a fundamental breakdown in our society. Arguing over tax rates and education and healthcare are real issues, but in a way, distractions.
Until there is greater democratic control over the nation as a whole: its political system and its economic system, there will be suffering and lackluster progress. Democratic socialism, or some variant of economic democracy is our only hope.
whether or not that is true, no system would be implemented all at once. plan it out in phases and change things a bit at a time with as little threat as poss. once improvements are shown people will be more likely to implement harder changes.