The person that makes 200k pays the same amount of taxes on the first 50k they make as the person that makes only 50k. Everything is equal at that point. Then additional income after that is taxed at a higher rate. The top 1% of americans account for almost 18% of all of the income in the nation. Frankly they pay a higher percentage because they can afford to.
To you guys who know about taxes... HELP!
- Thread starter exindust
- Start date
The person that makes 200k pays the same amount of taxes on the first 50k they make as the person that makes only 50k. Everything is equal at that point. Then additional income after that is taxed at a higher rate. The top 1% of americans account for almost 18% of all of the income in the nation. Frankly they pay a higher percentage because they can afford to.
GToddyT5
Founding Member
It's not always about living within your means. It's a shame when people cannot afford to send their kids to college because the costs of college tuition greatly outpace inflation.
If you know you owe money why NOT wait until the last minute to file? Keep the money in your pocket as long as possible so you can collect interest off of it.Nothing like waiting until the last minute.
U.M.
04DarkShadowGT
Member
Yeah then the government pays for it or at least a good portion of it.
I understand all of that, but I also find it ironic that people complain when the "rich" get a tax break when they pay so much of the $$ anyway. It funny the mentality that someone should do something just because they can afford it. That is a joke everyone wants more when it doesnt effect them, but when you talk about increasing their burden they dont like it as much.
