TAX TAX TAX and more TAX

[blahblahblah]

Sales tax is not regressive. The tax does not decrease as the amount subject to tax increases.

FAIL. Sales tax is regressive because as the ratio of income to purchases increases, the proportion taxed decreases. Think of it this way, a person making $200K/year uses the same amount of laundry detergent as a person making $50K/year, yet the person making $50K will pay a higher percentage of their income in tax purchasing that item.

Here’s some good info from wikipedia about regressive taxation.

[SK in CV]

[quote=meadandale] When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.[/quote]

Then you should be happy to know (and supportive) that the proposed administration budget retains most of the important Bush tax cuts that applied to joint filers with income under $250K and single filers with income under $200K. Additionally, (if the budget is approved) many of the other cuts which applied to higher income levels will also be either extended or modified to result in lower taxes, as compared to the law prior to the enactment of the Bush cuts. Maybe a note to your congressperson urging him or her to approve the proposed budget is in order. IF it passes, you won’t have to say screw it.

[SK in CV]

[quote=meadandale] When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.[/quote]

Then you should be happy to know (and supportive) that the proposed administration budget retains most of the important Bush tax cuts that applied to joint filers with income under $250K and single filers with income under $200K. Additionally, (if the budget is approved) many of the other cuts which applied to higher income levels will also be either extended or modified to result in lower taxes, as compared to the law prior to the enactment of the Bush cuts. Maybe a note to your congressperson urging him or her to approve the proposed budget is in order. IF it passes, you won’t have to say screw it.

[SK in CV]

[quote=meadandale] When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.[/quote]

Then you should be happy to know (and supportive) that the proposed administration budget retains most of the important Bush tax cuts that applied to joint filers with income under $250K and single filers with income under $200K. Additionally, (if the budget is approved) many of the other cuts which applied to higher income levels will also be either extended or modified to result in lower taxes, as compared to the law prior to the enactment of the Bush cuts. Maybe a note to your congressperson urging him or her to approve the proposed budget is in order. IF it passes, you won’t have to say screw it.

[SK in CV]

[quote=meadandale] When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.[/quote]

Then you should be happy to know (and supportive) that the proposed administration budget retains most of the important Bush tax cuts that applied to joint filers with income under $250K and single filers with income under $200K. Additionally, (if the budget is approved) many of the other cuts which applied to higher income levels will also be either extended or modified to result in lower taxes, as compared to the law prior to the enactment of the Bush cuts. Maybe a note to your congressperson urging him or her to approve the proposed budget is in order. IF it passes, you won’t have to say screw it.

[SK in CV]

[quote=meadandale] When the Bush tax cuts expire at the end of this year it won’t make quite as much sense to work harder. When you are ‘poor’ and work overtime, you are compensated extra for it (time and a half, double-time). When I work overtime I get the same hourly rate but I get taxed more–the more I work, the less I make per hour.

At some point you just say “screw it”.[/quote]

Then you should be happy to know (and supportive) that the proposed administration budget retains most of the important Bush tax cuts that applied to joint filers with income under $250K and single filers with income under $200K. Additionally, (if the budget is approved) many of the other cuts which applied to higher income levels will also be either extended or modified to result in lower taxes, as compared to the law prior to the enactment of the Bush cuts. Maybe a note to your congressperson urging him or her to approve the proposed budget is in order. IF it passes, you won’t have to say screw it.

[yooklid]

Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?

[yooklid]

Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?

[yooklid]

Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?

[yooklid]

Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?

[yooklid]

Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?

[meadandale]

[quote=yooklid]Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?[/quote]

Nope…we’ll still have sales tax…and income tax and property tax. There are no plans on the table to have the VAT replace anything else. It will be IN ADDITION to current taxes.

So, assuming a 10% VAT that means that the sales tax rate will be 18+% in CA.

[meadandale]

[quote=yooklid]Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?[/quote]

Nope…we’ll still have sales tax…and income tax and property tax. There are no plans on the table to have the VAT replace anything else. It will be IN ADDITION to current taxes.

So, assuming a 10% VAT that means that the sales tax rate will be 18+% in CA.

[meadandale]

[quote=yooklid]Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?[/quote]

Nope…we’ll still have sales tax…and income tax and property tax. There are no plans on the table to have the VAT replace anything else. It will be IN ADDITION to current taxes.

So, assuming a 10% VAT that means that the sales tax rate will be 18+% in CA.

[meadandale]

[quote=yooklid]Having grown up in Europe with a VAT, I can tell you one thing, we DON’T HAVE A SALES TAX. Does that mean that Sales taxes will be dropped in lieu of VAT?[/quote]

Nope…we’ll still have sales tax…and income tax and property tax. There are no plans on the table to have the VAT replace anything else. It will be IN ADDITION to current taxes.

So, assuming a 10% VAT that means that the sales tax rate will be 18+% in CA.

[Author]

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