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Thread: income tax rates and gov't spending calculator

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    Banned Melonie's Avatar
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    Default income tax rates and gov't spending calculator

    give it a try ... and check out the spending category breakdowns



    note that this only calculates federal income taxes, not state or local.

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    God/dess threlayer's Avatar
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    Default Re: income tax rates and gov't spending calculator

    Interesting to see the accelerated precentage as income goes up (though using its simplified assumptions). At $600,000, taxes amount to about $200,000.

    Gee, I guess only one Rolls-Royce will have to do.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Banned Melonie's Avatar
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    Default Re: income tax rates and gov't spending calculator

    ^^^ unfortunately, what this calculator program fails to do is subtract the 'fixed' amount of personal tax exemption, of 'making work pay' personal tax credit etc. which reduce the tax liability. Net of those personal exemptions and tax credits, the actual effective tax rates which apply to different levels of income are far more progressive than the calculator result shown.

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    God/dess threlayer's Avatar
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    Default Re: income tax rates and gov't spending calculator

    ^^ Yes. On the low end I assume you mean.

    Very interesting to look at the pre-Reagan high end tax rate, extremely progressive. Like at $300,000 taxes amounted to $200,000 until the 80s. Now that's when the tax bracket creep really meant something after the rampant inflation of the late 70s. A much better solution was indexing, but Reagan decided that deficit spending (resulting from greatly lowered taxes) was better for his high roller friends. Of course this is only income taxes. Add to that inheritance and gift taxes, which W greatly reduced and you begin to see why total taxes were just not enough to pay for the (resulting) Chinese-funded war follies.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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