You're willing to pay 30%? That's confiscatory. Hello black market.
You're willing to pay 30%? That's confiscatory. Hello black market.
The present income tax is over %30 for the higher brackets. Most people pay that amount if you count Social Security and Medicare taxes as well as income taxes.
You are paying FAR more than that NOW my friend you just aren't AWARE of it! (see post #72 of this thread)
Pay PARTICULAR attention to this part!:
Our founding fathers saw an income tax as very dangerous to the freedom of citizens and twice forbade it in the U.S. constitution. In 1913 politicians amended the constitution and passed an income tax that started at 1% for the very rich. Today this has evolved to where the minimum federal income related tax that a low-income person can achieve is 47.3% (15.3% social security & Medicare taxes, 22% hidden tax discussed above, and the minimum income tax rate of 10% = 47.3%). This doesn’t include gasoline, state income and property taxes, etc. The current tax code is very regressive because lower income workers pay a much higher percent of their income in these taxes.
Yeah, but a lot less confiscatory than we got now. BTW, know where I can find the black market? Been feeling a big need for it lately, after the tax bills are paid.