Posted on 10/26/2008 7:57:46 PM PDT by minus_273
I've recently discovered the wonders of "progressive" taxation. Earning a pretty average salary I never thought I would be complaining about higher taxes and here I am.
In a nutshell, I decided to go to graduate school. My employer being very nice decided to pay for all of it. Then I discovered that if your employer pays for undergraduate class it's tax free. If it is graduate school it's taxed at 33% as income. What does that do? Well, each graduate class costs about 6k. I take 6-7 classes a year. 6x7= 42. Tack on 42k to my regular income and the fact that I am single and have no dependents and I'm making more money than I should be. Only problem is my actual income is 42k less than what it is on paper.
Thanks to progressive taxation I pay taxes as if i made well above 6 figures when i make well below that. My only crime? education.
To make matters worse, those eeevil bush tax cuts for the "rich" some want to get rid of included a 5k deduction for graduate school tuition.
Never knew this. Thank you.
Just wait till you buy a stock...because you think it might go up...Or you short a stock that you think may go down...and you pay 40-50% on the profit you made..IF any.
Anyone wonders why the markets are getting hammered.....needs to understand how taxation works to impede and stagnate speculation.
Of course there a the "Speculation is evil" herd here on FR.......
Line up with the Dims if you must...But I disagree.
I can "speculate" to start a very small business....or a medium size business. And I have. Are you going to pounce on that also???
FWIW-
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