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Even if you take the SS tax into account, we still pay less in tax now due to the increase in the brackets of the federal income tax:
A person making $40,000 in 1983 would have paid $10,910.44 (27.28% of income) in federal income tax.
A person making $40,000 in 2008 would have paid $6,343.35 (15.86% of income) in federal income tax.
A person making $40,000 in 2013 would have paid $5,928.35 (14.82% of income) in federal income tax, 6.54% less than in 2008 and 45.66% less than 1983.
A person making $75,000 in 1983 would have paid $27,659.94 (36.88% of income) in federal income tax.
A person making $75,000 in 2008 would have paid $15,093.35 (20.12% of income) in federal income tax.
A person making $75,000 in 2013 would have paid $14,678.35 (19.57% of income) in federal income tax, 2.75% less than in 2008 and 36.88% less than 1983.
Our taxes are low, so why do people act as if they're high? In the past 30 years they have fallen a ton, so how come the TEA Party morons seem to think it's the opposite?
Last edited by ThinkBeforeYouVote; 01-31-2013 at 03:37 PM..
I'll add another. $40,000 salary in 1983 is not a $40,000 salary in 2013.
The inflation calculator says that $40K then would be $93K today.
"Adjusted for inflation"
Now go educate yourself.
Even inflation adjusted we pay less in tax now.
But the point was not about inflation, but about tax rates. Tax rates have fallen a ton and if you can't see that you're even dumber than I already thought you were.
Go educate yourself, I do this stuff for a living.
And that 93k salary would fall into the top bracket today which is MUCH lower than the top bracket in 1983. The top bracket in 1983 was 50% on all income over 41,500...not even people making $1,000,000,000 have a bracket which is 50%.
And the total tax burden is still smaller.
The point was that people keep saying that taxes are high right now when the actual statistics and facts prove otherwise.
These are facts. Try supporting your assertion that we pay more in taxes now than in 1983 (or 2008) with facts, I bet you can't.
Only short-sighted people with limited attention spans would look at a single tax rate and say that "taxes" are low.
I have three words for you:
Overall Tax Burden
Now go educate yourself.
I would suggest you do the same if you don't include rent and mortgage because the overall burden includes rent and mortgage payments to the FIRE sector. That is to say payment for use of land. If you look back all through history that was the effective government. If one government's taxes go down and your land baron's goes up, its no wonder why "tax relief" provides no relief. All people do with their "low taxes" is take that cash and bid up prices when the market is not competitive. All that sub prime demand did just that and created an artificial housing shortage.
Tax his land,
Tax his bed,
Tax the table,
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for
peanuts anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid...
Put these words
Upon his tomb,
'Taxes drove me
to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
Even if you take the SS tax into account, we still pay less in tax now due to the increase in the brackets of the federal income tax:
A person making $40,000 in 1983 would have paid $10,910.44 (27.28% of income) in federal income tax.
A person making $40,000 in 2008 would have paid $6,343.35 (15.86% of income) in federal income tax.
A person making $40,000 in 2013 would have paid $5,928.35 (14.82% of income) in federal income tax, 6.54% less than in 2008 and 45.66% less than 1983.
A person making $75,000 in 1983 would have paid $27,659.94 (36.88% of income) in federal income tax.
A person making $75,000 in 2008 would have paid $15,093.35 (20.12% of income) in federal income tax.
A person making $75,000 in 2013 would have paid $14,678.35 (19.57% of income) in federal income tax, 2.75% less than in 2008 and 36.88% less than 1983.
Our taxes are low, so why do people act as if they're high? In the past 30 years they have fallen a ton, so how come the TEA Party morons seem to think it's the opposite?
Tax his land,
Tax his bed,
Tax the table,
At which he's fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his work,
Tax his pay,
He works for
peanuts anyway!
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries
Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his ass.
Tax all he has
Then let him know
That you won't be done
Till he has no dough.
When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid...
Put these words
Upon his tomb,
'Taxes drove me
to my doom...'
When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax
STILL THINK THIS IS FUNNY?
Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.
Nice cut-and-paste...do you have any thoughts of your own?
You do realize that 1913 is when Wilson was elected president and fostered in a new generation of progressive policies specifically because of economic problems associated with that supposedly tax-free society? Why do you think unions started? Anti-trust laws?
Plus, the 16th Amendment wasn't the first time there were income taxes in the US...
Again, ignorance is the main factor in your argument:
To raise revenue to fund the Civil War, Congress introduced the income tax through the Revenue Act of 1861. It levied a flat tax of 3% on annual income above $800, which was equivalent to $20,693 in today's money. This act was replaced the following year with the Revenue Act of 1862, which levied a graduated tax of 3–5% on income above $600 (worth $13,968 today) and specified a termination of income taxation in 1866.
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