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To: walden
Also, I would like to point out that the total tax burden indicated in the article above of 50% is just flat wrong. At that rate, government spending would have to account for 50% of GDP and it just doesn't. A tax analysis web site I looked at the other day listed the total tax burden of the U.S. at 24%.

Ahh, but we all don't pay taxes, do we. The poor spend from the system but don't put in. The very rich pay at massively reduced rates by using loopholes and lawyers. That leaves the middle class (really any salaried employee basically) as the real taxPAYER in the system.

For us the 50% is conservative. Do the simple math. 39% top rate on income + 8.5% state income (my state) + sales tax (0% in my state) + excise taxes on gas, booze, etc. + capital gains (double taxation) ... 50% is very conservative accounting.

274 posted on 12/17/2001 7:30:55 AM PST by Jack Black
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To: Jack Black
The 39% rate on income is marginal rate-- not average, not what one pays on all income. Additionally, you have to figure in all the deductions and exemptions, so depending on one's business ventures, average rates will vary widely. And, as I noted in a later post, the poor don't pay taxes, but they also don't account for very much of GDP. While it is probably possible to get one's overall tax burden to 50% by managing one's business carelessly, I suspect it is rather rare. If your personal situation falls in that category, I would recommend that you find a really good tax accountant pronto. :)

That said, taxes are too high overall, and government needs to be pruned and redirected to provide the important services we all require (I've been really pleased with the military recently-- looks like we've gotten our money's worth there!) But, overstating one's case does nothing to advance it-- I wish more people realized that. All it does is polarize the debate and make everyone look silly.

275 posted on 12/17/2001 7:49:15 AM PST by walden
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