toffeestillidie
Player Valuation: £35m
Yep, I read it all. Some part I found very difficult and distasteful. Other points were at least thought provoking. But I think that Tx Bill and Dylan represent many points of my rebuttal so I will not rehash. However, I would like to comment about the math of taxes. First off, the US government needs to reduce its spending dramatically. Too much money goes to Washington. There is enormous waste in the federal government and many programs and departments should flatly be shuttered. The only impact felt should those "services" be eliminated, would be to those employed within those departments. Government is not the answer to individual problems. It rarely even understands the issues around those problems.
The US government has too much power to tax and the taxpayers are over-taxed. To free the economy, the burden on taxpayers must be reduced. The top 5% of tax payers contributes something like 40-50% of all tax revenues. Is that fair and who is to be the judge of fair? Of course, when taxes are reduced, the people who pay the most should get the most relief. If payer A remits 10-grand annually and payer B remits 1-million, you can't give payer A a 15-grand reduction in his taxes. Millions of low-income American's do not even pay taxes. So no, the lowest earning Americans have seen little or change in their tax brackets.
The financial problems that low-income wage earners encounter do not result from the possibility that their neighbor isn't taxed heavily enough. That's the politics of envy. More typically, low economic status is correlated to education. That cycle can be difficult to break for many reason but it has been proven over and over that spending more on education doesn’t necessarily improve academic results. So there’s another problem not likely to be fixed by a federal program and tossing more money. So there’s some libertarian blather for you. How about we just agree that Texas succeed from the US and stay to ourselves? We don’t need the rest of the US anyway. Well… maybe a little.
sorry about the delayed reply, i've been away on holiday. on the subject of government spending, i really agree we need to cut spending, i just think the first place we should cut spending is the defence budget. with the current system, so much money is spent by the government just to line the pockets of contractors, the United States' defence budget is huge, theres no reason for that much money to be spent on it. additionally, our defence budget includes money like billions of dollars being sent to israel, which is an industrialized nation, theres no need to send aid money to an industrialized nation.
on taxation: you said it yourself that the top brackets contribute the majority of the money to the system, which i don't think is a bad system really, as they're less burdened by the loss of money (losing that higher percentage of money constitutes less of a strain on their financial means, just because the financial priorities of different brackets are so different). also, because they contribute so much more, the government can raise their taxes slightly, and be able to lower the taxes of lower brackets drastically. i don't know the math exactly, but a 1% increase on the taxes of the top 2 brackets would allow the government to lower the taxes on the lower brackets by a substantial amount and still have the same amount of revenue.
so to modify your scenario for simplicity purposes, lets say instead that each person earns 10 grand and 1 million respectively, if you raise the taxes on the top person by .1%, you can cut taxes for the bottom person by 10% without losing any revenue. thats why, since the top brackets contribute so much, it makes very little sense to give them negligible tax relief and lose so much money, as it greatly hurts the federal government's total revenue. it may not seem fair, but lets say in that scenario, they raised the top person's taxes by .05% and cut the bottom persons taxes by 5%, i gaurantee the less well off person would feel the benefit of the tax change much much more than the top person would feel the loss.
and as for the low income people who don't pay taxes, here in virginia, if you make less then around 8,000 dollars year, you get your federal and state withholdings back. That means there are people who make around 10,000 dollars a year who still have to pay taxes, and are hurt by the loss of income even though the federal government is barely benefitted by the taxes levied from them. seems a backward system to me. with the extra revenue that can be generated by taxing the top brackets marginally higher, the government could fix our healthcare system to help alleviate the struggles of the working class, and reinvest in other programs that will working and middle class americans.
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