HereForTheBeer: Some top-notch analysis going on, I see.
Here's an example of how greedy we are, from this working-man's perspective:
- Effective federal tax rate of 28% on a five-figure income
- State income tax of around 6.5%
- FICA tax rate of 15.3%
- Personal property tax that currently amounts to about 2.7% (this will be going up due to a school referendum in the next year or two)
- Local and state combined sales tax of 5.5%, but it works out to another 1-2% since this particular tax does not apply to everything.
- State and Federal fuel taxes. This runs about 0.4% for our family
- Other miscellaneous taxes, fees, etc., equal roughly another 1%
That's around 55% of our family's income going toward taxes on a 5-figure post-business-deduction income, but let's be generous and call it 45% because I know it's not quite that cut-and-dried, what with personal deductions and all that. So tell me again that we're selfish and greedy for wanting to keep a little bit more of the income we worked for so we can better support ourselves and build the nest egg that keeps us from needing aid in the future.
Meanwhile, as a business owner it's automatically assumed I'm a greedy little miser, out to screw every customer for as much as I can get away with.
Call people like me ignorant, greedy, stupid, childish, racist, and redneck all you want. But before opening your yap, how about taking a look from the perspective of the ordinary people who pay for this government utopia you're all so enamored with? But hell, we can achieve this flower-child-like social bliss by simply taxing a little bit more. And a little bit more. And a little bit more. I mean, shit, if we can get by on 45% tax, then paying on top another 5-10% won't matter. Right?
Here's the Utopian's Tax Return:
"Line 1: How much did you earn last year?
$______
Line 2: Pay that amount."
Yet almost none of the higher-tax Utopians ever voluntarily pony-up more than the absolute minimum necessary to avoid breaking tax law, instead seeking every legal - and quasi-legal - deduction possible. This is how my 5-figure family pays a higher effective tax rate than the President does - the same President who, out of one side of his mouth, says we need to pay more tax and out of the other side takes every deduction available in order to pay LESS tax.
Let me paraphrase the oft-used retort: "I don't pay more because my little drop in the bucket won't matter when everyone else pays the minimum." Well guess what, sunshine: if every one of you folks saying we should pay more would actually, I don't know, voluntarily pay more
just like you say we all should, then you would be that much closer to reaching those utopian goals.
Assuming, of course, that more tax money is the solution.
So why don't
you volunteer to pay a higher tax? Why wait for government to force you to do so? After all, if it's "the right thing to do" then take Line 10 from your 1040EZ - or line 35 from your 1040A - multiply by 5%, 10%, or whatever assuages your inner guilt, and add that extra amount to write a bigger check to the IRS. If I'm greedy paying a measly ~45%, then surely paying any amount less than that is MORE greedy, and I'm sure you don't want to be stuck with the same label as an apparent ignorant, stupid, childish, racist purple-state redneck like me.
Excuses in 3... 2... 1...
"Pay... more? I meant everyone except me."
Believe it or not, it can work out well if done correctly. I think you would have a shock when visiting countries like germany. That is why I think US-citizens should follow a polished version of the monroe doctrine and leave the world alone.