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Topic: What is your fair share
Replies: 22   Last Post: May 2, 2021, 10:36 AM by: CharlestonTom®
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Replies: 22  

What is your fair share

[1]
Posted: Apr 29, 2021, 10:30 AM
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to pay in taxes? $100, $1000, $1 million? And why should your fair share be more or less than another person's fair share?

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I would say the amount we are suppose to pay in taxes


Posted: Apr 29, 2021, 10:36 AM
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you know, social contract and all.

Taking what you are suppose to pay in taxes and putting it in a "business" in the Caymons isn't your fair share.

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Re: I would say the amount we are suppose to pay in taxes


Posted: Apr 29, 2021, 10:43 AM
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You've read too many John Grisham novels

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And making broad tax policy based on...


Posted: Apr 29, 2021, 10:47 AM
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anecdotal tales isn't smart and doesn't solve any problem. It just makes people feel good.

The whole "fair share" argument as a general slam against the rich is asinine and any parsing of income tax data completely disproves the narrative.

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A percentage of your labor. That what would be fair.

[1]
Posted: Apr 29, 2021, 10:45 AM
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Doesn't matter the dollar amount. Hammer nails for $10/hr or a lawyer billing $800/hr. Doesn't matter. 15% of your time doing WHATEVER you do for money, goes to Uncle Sam. Personally, I'd say 15%. Then everyone works 15% of their day/week/month/year for the government.

EQUALITY!!! And the rich STILL pay more dollars. Heck, extend that to capital gains too. Inheritance tax, everything.

This drawing up dollar figures to divide people is pure BS.

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we should do all goods and services the same way

[1]
Posted: Apr 30, 2021, 7:51 AM
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get a speeding ticket? Pay a percentage of your income. Go to a federal park, entrance fees based on a percentage of income. It's only fair.

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Re: we should do all goods and services the same way


Posted: Apr 30, 2021, 3:03 PM
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Why should the penalty for speeding be based on income? Does the wealthy speeder put other motorists in greater danger? Do you have to show up with tax returns to pay fines?

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Re: What is your fair share

[2]
Posted: Apr 29, 2021, 10:58 AM
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no more than 10%, state, federal, local, including property tax, sales tax

here is my $10,000 and let them all fight for a piece

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Fair share should depend on ability to pay

[4]
Posted: Apr 29, 2021, 11:23 AM
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When I was younger and poorer, I paid very low taxes (some 3-digit number), which is good because I could barely afford even that. Now I pay very high taxes (extra digits). I'm happy with the trade-off because I could never have gotten here if my taxes were as high then as they are now.

When I was poorer, basic living expenses ate up a big percentage of my income. Just like sales tax doesn't apply to food, I don't think income tax should take away someone's food money. For these reasons I'm in favor of a big standard deduction and a progressive tax schedule.

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If you see everything as liberal and conservative teams, then You Are What's Wrong With America #YAWWWA


One way to begin to look at it is to take a look at total

[2]
Posted: Apr 29, 2021, 11:46 AM
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Govt spending - including state and local - as a percentage of GDP through the decades, back to the beginning of the industrial era. If that has held steady or increased, the argument that our debt is due to "people not paying their share" is debunked. If it has decreased while debt has increased, yes, taxes is the issue.

Once one has a feel for that, how to tax [income vs assets, progressive or not, income vs sales, etc] is a separate issue. Whatever one chooses, it will come down to taxing the middle class, because that is where the money is, the income and spending of the middle class. The 'wealth inequity' charts never bother saying that. Sure, the top 1% have a ton proportionately, but you can collect it all and not have very much compared to govt budgets. Taxing assets is a very self defeating idea.

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Re: What is your fair share

[2]
Posted: Apr 29, 2021, 11:51 AM
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Fair should mean that the more kids you have, the MORE you should pay.

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Re: What is your fair share

[1]
Posted: Apr 29, 2021, 6:57 PM
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Not a bad idea. We should at the very least only allow 1 child dependent per SSN. We need to quit encouraging large families.

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I think our rates should be based on how vital our


Posted: Apr 29, 2021, 7:24 PM
    Reply

role is in society. Right now we need scientists, engineers, programmers, AI software engineers, etc.. There should be Tax incentive to go into these fields.

If you are basically useless to society, say a real estate agent, Pet Psychic, telemarketer, or anything in Banking and finance, you should basically have to give ALL of your money back to the government, over say... 75k.

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Don’t forget people in sales

[1]
Posted: Apr 29, 2021, 7:37 PM
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I know that could include telemarketers, but I’ve never really seen the need for dedicated salespeople. Put those people to work doing something meaningful...they will probably even feel better about themselves. If a product is worth the money, the market will sort it out.

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Re: Don’t forget people in sales


Posted: Apr 29, 2021, 7:39 PM
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Politicians, actors, and athletes should be included in this category as well

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LOL...no. Sales people are normally well paid...

[3]
Posted: Apr 30, 2021, 7:33 AM
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because they can and normally do make a big difference to the business. Of course that varies by product and market. In our company, a good sales person is worth a lot of money.

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Re: LOL...no. Sales people are normally well paid...

[1]
Posted: Apr 30, 2021, 11:22 AM
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You’re expecting a lot of you think some of these people understand anything about business, economics or the stock market.

You are correct. Sales is one of the few jobs where you can actually directly measure someone’s contribution to a company bottom line and calculate a return on investment...or lack thereof.

If most people had to justify their compensation based on those factors, they couldn’t do it. I’ve always been either straight commission/fees or salary and bonus. I wouldn’t have it any other way.

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Re: Don’t forget people in sales


Posted: Apr 30, 2021, 11:13 AM
    Reply

yeah, we just turn on google ads, pay different rates for the number of ads we want to be based on people's searches. Potential clients call us, and our sales increased 150% since we let go of our full-time sales and marketing girl. She was pain in the rear, not a team player, so it worked out in the end cutting 55k off the books, cause google ads cost a LOT less.

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NC State has a surchage fee for engineering and CS majors


Posted: Apr 30, 2021, 7:58 AM
    Reply

because they get better paying jobs when they graduate.

This is from their website stating the reason

"Our ability to provide our students with the highest quality engineering education depends on being able to develop, sustain and grow programs of excellence that enhance your educational experience and your marketability. Since technology is also changing so rapidly these days, our ability to provide relevant engineering education and prepare you for entering the workforce requires that equipment and laboratories keep pace with these advancing technologies."

It's $1500 a year per student.

Which means, we can charge you more because you get better paying jobs, and well, we can charge you more just cuz lab fees are also additional.

Why not chemistry, physics, biology or any other lab based program?

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Too complicated for such a simplified question.

[1]
Posted: Apr 30, 2021, 7:22 AM
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We pay a percentage of our income, a percentage of some of our assets, a percentage on our consumption. I want taxes as low as possible to fund a functional government. I pay whatever I'm asked without complaint, except to "complain" in the ballot box by voting for candidates who support any changes I would like to tax law.

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Re: Too complicated for such a simplified question.

[1]
Posted: Apr 30, 2021, 8:13 AM
    Reply

I agree. 'Fair share' is definitely a simplified term that doesn't really mean much.


Message was edited by: p6fuller®


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When looking at an income range, the share of tax burden...

[1]
Posted: Apr 30, 2021, 7:43 AM
    Reply

should exceed the share of income. All of the top income ranges have their share of the tax burden higher than their share of income currently.

For example, the top 1% has about 20% share of total income and about 38% of total income tax burden.

Top 10% (about $145k household income) have 47% share of income and 70% share of total income tax burden.

Top 50% (about $42k) have 89% share of income and 97% share of income tax burden.

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0***

[1]
Posted: May 2, 2021, 10:36 AM
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