Complete pipe dream. The government is gonna take their share whether you like it or not, the only thing this changes is that big tac corporations won’t take theirs, too
You know there are lots of other taxes than just income tax?
Roads and car infrastructure, at least in my area, is paid for entirely through through gas and car insurance taxes, occasionally property taxes if it’s in a municipality. But income tax doesn’t pay a penny for the roads.
Downvoted for telling the truth. The original comment is still wrong but “what about the roads” crowd never seems to know that roads are almost entirely funded with gas tax. That’s what the $3.67^9 is for
Meanwhile the IRS should do what other countries do and just use the data they already have and send you a tax bill. What we currently have for like 99% of the tax paying public is a system where you get to guess if you filled out the forms correctly and then the irs, using the data it already has for you, corrects your mistakes and sometimes penalizes you for getting it wrong. All this while allowing Intuit and others to extract even more rent from people.
More progressive, close the loopholes, fund the IRS properly so they are actually able to prosecute tax cheats (usually wealthy), set a cap on tax money that can go to the military and outlaw any tax cuts that primarily benefit the top 3 tiers within 3 years of an election.
Wealth Tax is just income tax with different increments of tax bracketing. You sound like a dummy. Nobody said the current income tax structure needs to be retained. Also rich people will just spend thier money on things not considered wealth, which they can convert back to wealth as needed, if true wealth tax is ever proposed.
Wealth and income are related, but are not the same thing. Wealth is assets while Income is earnings. Wealth could come from saving/investing income, but it can also come from “unearned income” like the appreciation of assets.
I personally don’t support Wealth Taxes because wherever they’ve been implements, they’ve had limited effects. I’ve yet to hear a good plan for how to execute a Wealth Tax and haven’t heard good answers for questions like, “Do we allow for depreciation of wealth?” and if so, “How do we avoid that turning into a tax loophole.”
Either way, wealth and income aren’t the same thing.
The National Weather Service, the National Park Service, the National Science Foundation, the National Institutes of Health, the National Transportation Safety Board, etc? Yeah! What have any of those agencies ever done for us?!
That’s due to the structure of the tax bracketing. It’s not inherent to taxation. If the bracketing were closer to a “wealth tax” distribution, it would be more fair than a wealth tax.
That’s not true. Income is taxed against the individual. Employers are required to withhold income taxes in many cases, but it’s not “a fine charged on the company.” It is a tax on the individual’s income, withheld from the individual.
But the end result is the same. You don’t “make 50k, and lose 15k to taxes”, you just make 35k. That’s is. That’s what you make. If you want more, talk to your employer.
But the end result is the same. You don’t “make 50k, and lose 15k to taxes”, you just make 35k. That’s is. That’s what you make. If you want more, talk to your employer.
No, that’s exactly what happens. Have you ever filed a tax return? We’re not debating subjective interpretation here. You make a gross income that is then taxed by the government. The income tax that the government takes is taken from your gross income.
Your employer is taxed on your income by “Payroll tax”, which is a tax against the employer and is not income tax:
Payroll taxes include amounts paid by both the employee and the employer to cover any federal taxes due, while income taxes specifically refer to the amount owed by the employee to cover their individual federal income taxes owed.
Source. I’m not trying to be pedantic – in your original post, you said “Income tax is just a fine charged on the company for having employees” which is objectively not true. Income tax != payroll tax.
Yes, you’re 100% factually correct. However, it’s not useful to complain about an income tax because society benefits from those services. Fundamentally, if you’re unhappy with your take home, you need to complain about your salary. And to accept that, you need to make the mental switch to believing that your pre-tax income is not actually your income.
deleted by creator
Complete pipe dream. The government is gonna take their share whether you like it or not, the only thing this changes is that big tac corporations won’t take theirs, too
How do you propose we pay for roads, military, and everything else you use?
You know there are lots of other taxes than just income tax?
Roads and car infrastructure, at least in my area, is paid for entirely through through gas and car insurance taxes, occasionally property taxes if it’s in a municipality. But income tax doesn’t pay a penny for the roads.
Tf I want to pay tax on subsidized dino rot? Sales tax punished poor people, properly structured income tax does not.
Consumption taxes are regressive and affect the poor more than the rich.
EDIT income taxes almost certainly pay for a significant portion if not a majority of the road work in your area.
Downvoted for telling the truth. The original comment is still wrong but “what about the roads” crowd never seems to know that roads are almost entirely funded with gas tax. That’s what the $3.67^9 is for
Not even close, only 41% of road spending in the US is covered by gas taxes.
Meanwhile the IRS should do what other countries do and just use the data they already have and send you a tax bill. What we currently have for like 99% of the tax paying public is a system where you get to guess if you filled out the forms correctly and then the irs, using the data it already has for you, corrects your mistakes and sometimes penalizes you for getting it wrong. All this while allowing Intuit and others to extract even more rent from people.
What’s your idea for funding the government?
How about wealth taxes instead. You know, like what we’re already doing with property taxes?
Income taxes disproportionately affect the poorest in society.
Then the solution is to make the existing income tax more progressive than it already is, not just throw it away.
More progressive, close the loopholes, fund the IRS properly so they are actually able to prosecute tax cheats (usually wealthy), set a cap on tax money that can go to the military and outlaw any tax cuts that primarily benefit the top 3 tiers within 3 years of an election.
Wealth Tax is just income tax with different increments of tax bracketing. You sound like a dummy. Nobody said the current income tax structure needs to be retained. Also rich people will just spend thier money on things not considered wealth, which they can convert back to wealth as needed, if true wealth tax is ever proposed.
Wealth and income are related, but are not the same thing. Wealth is assets while Income is earnings. Wealth could come from saving/investing income, but it can also come from “unearned income” like the appreciation of assets.
I personally don’t support Wealth Taxes because wherever they’ve been implements, they’ve had limited effects. I’ve yet to hear a good plan for how to execute a Wealth Tax and haven’t heard good answers for questions like, “Do we allow for depreciation of wealth?” and if so, “How do we avoid that turning into a tax loophole.”
Either way, wealth and income aren’t the same thing.
if i thought wealth and income were the same thing, I wouldn’t have listed taxation of income vs wealth as different things, which I did.
??
deleted by creator
What would you cut
deleted by creator
The National Weather Service, the National Park Service, the National Science Foundation, the National Institutes of Health, the National Transportation Safety Board, etc? Yeah! What have any of those agencies ever done for us?!
deleted by creator
That’s due to the structure of the tax bracketing. It’s not inherent to taxation. If the bracketing were closer to a “wealth tax” distribution, it would be more fair than a wealth tax.
How you gonna pay for roads?
The income tax has dick all to do with roads
You never heard of Federal Highways?
Firstly, three-quarters of highway infrastructure is funded by state investment. Even still, 82% of the entire HTF funding comes from taxes on motor fuel, not income tax.
Second, what you said doesn’t even refute my original comment. Highways and interstates aren’t roads.
🤦♂️
https://en.wikipedia.org/wiki/Highway
First line defines it as a type of road.
deleted by creator
Income tax is just a fine charged on the company for having employees. It’s not taken from you, it’s taken from them.
Yes because companies never pass on revenue loss to their employees
You can certainly tell you don’t work. Income tax is taken from both you and your employer. Your employer matches what you pay.
That’s not true. Income is taxed against the individual. Employers are required to withhold income taxes in many cases, but it’s not “a fine charged on the company.” It is a tax on the individual’s income, withheld from the individual.
But the end result is the same. You don’t “make 50k, and lose 15k to taxes”, you just make 35k. That’s is. That’s what you make. If you want more, talk to your employer.
No, that’s exactly what happens. Have you ever filed a tax return? We’re not debating subjective interpretation here. You make a gross income that is then taxed by the government. The income tax that the government takes is taken from your gross income.
Your employer is taxed on your income by “Payroll tax”, which is a tax against the employer and is not income tax:
Source. I’m not trying to be pedantic – in your original post, you said “Income tax is just a fine charged on the company for having employees” which is objectively not true. Income tax != payroll tax.
Yes, you’re 100% factually correct. However, it’s not useful to complain about an income tax because society benefits from those services. Fundamentally, if you’re unhappy with your take home, you need to complain about your salary. And to accept that, you need to make the mental switch to believing that your pre-tax income is not actually your income.