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rynefrompf June 2nd, 2014 2:56pm

Have you ever made a tax plan using Splitwise? If so, post it in the comments.

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Comments: Add Comment

rynefrompf Kingsport, TN
06/02/14 11:30 am

It lets you create a tax plan based on fixed criteria. Website or app.

Whichendisup uniquely unoriginal
06/02/14 11:35 am

ryne, the only thing I could find was an app the allows you to split a bill and track payments

rynefrompf Kingsport, TN
06/02/14 8:05 am

My plan was:

0% 0-10k
15% 10k-60k
25% 60k-120k
35% 120k-240k
45% 240k-1.5mil
60%. 1.5 mil+

Reply
rynefrompf Kingsport, TN
06/02/14 8:06 am

I abolished the mortgage interest deduction, taxed capital gains as regular income, and used the "Buffet Rule" option.

Whichendisup uniquely unoriginal
06/02/14 8:08 am

so you believe that there should be a tax bracket where someone pays 60% of their earnings as taxes?

rynefrompf Kingsport, TN
06/02/14 8:10 am

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.

rynefrompf Kingsport, TN
06/02/14 8:12 am

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.

Whichendisup uniquely unoriginal
06/02/14 8:14 am

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?

Whichendisup uniquely unoriginal
06/02/14 8:19 am

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?

Whichendisup uniquely unoriginal
06/02/14 8:34 am

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

Whichendisup uniquely unoriginal
06/02/14 8:35 am

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

rynefrompf Kingsport, TN
06/02/14 8:37 am

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

rynefrompf Kingsport, TN
06/02/14 8:39 am

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.

Whichendisup uniquely unoriginal
06/02/14 8:40 am

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.

Whichendisup uniquely unoriginal
06/02/14 8:41 am

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.

rynefrompf Kingsport, TN
06/02/14 8:44 am

It isn't ludicrous, it's logical and common sense. If you also haven't noticed, we have significant debt problem at the moment.

Whichendisup uniquely unoriginal
06/02/14 9:04 am

& 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.

rynefrompf Kingsport, TN
06/02/14 9:10 am

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

political Georgia
06/02/14 9:15 am

Don't like the tax plan at all!

Whichendisup uniquely unoriginal
06/02/14 9:56 am

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.

rynefrompf Kingsport, TN
06/02/14 9:59 am

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.

Whichendisup uniquely unoriginal
06/02/14 10:02 am

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.

rynefrompf Kingsport, TN
06/02/14 10:09 am

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.

rynefrompf Kingsport, TN
06/02/14 10:09 am

This is lowest paid worker to CEO pay

Whichendisup uniquely unoriginal
06/02/14 10:24 am

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.

rynefrompf Kingsport, TN
06/02/14 11:29 am

We have a minimum wage do we not? And safety requirements?

Whichendisup uniquely unoriginal
06/02/14 11:32 am

yes, those are old bandages. you are talking about new bandages. I would like to fix the problem instead of increasing the temp measures.

Whichendisup uniquely unoriginal
06/02/14 11:33 am

if all we ever do is focus on the bandages, actually healing the cut will continue to be ignored.

rynefrompf Kingsport, TN
06/02/14 12:10 pm

Bandages are a part of the solution in the short term.

Whichendisup uniquely unoriginal
06/02/14 12:14 pm

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

Whichendisup uniquely unoriginal
06/02/14 12:14 pm

simply are too far left to be acceptable to the majority.

rynefrompf Kingsport, TN
06/02/14 12:49 pm

Changing the entire system is too far left for the majority at this point.

Whichendisup uniquely unoriginal
06/02/14 1:01 pm

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.

rynefrompf Kingsport, TN
06/02/14 1:11 pm

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.

rynefrompf Kingsport, TN
06/02/14 1:13 pm

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.

rynefrompf Kingsport, TN
06/02/14 1:14 pm

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.

Whichendisup uniquely unoriginal
06/02/14 2:21 pm

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.