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Originally Posted by RACER X
whens enough enough?
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Currently, 35% is enough. If and when I ever make $380K, the point at which I'd have to pay 35% income tax, something tells me I'll still be able to squeeze by on $247K a year.
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Originally Posted by RACER X
lets say you make $150k how much are you willing to keep contributing to "help" others, remember some/many people don't pay a dime into "the system".
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First, this assertion that you keep repeating is disingenuous, since many payroll deductions aren't refunded even if you've been determined to owe no income tax. Second, about half of these households that "don't pay a dime into the system" take in $20,000 a year or less. That's hard enough when you're single. Try housing and feeding a family on that. Even if you're only taxing them 10%, now try housing and feeding a family on $18,000. Hell, just housing.
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Originally Posted by RACER X
do people in escalades come up to the grocery store w/ their coach purses and done up nails and hair and pay for their groceries w/ a govt food stamp card?
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I thought "where the money goes" was a different topic? Ok, assuming it's part of the conversation again:
Taking away food stamps is not going to put a scratch in the $133K I would be paying in income tax if I made $380K. Add up all the other discretionary spending of the 2011 federal budget, and you still don't come within $100 billion of the spending for the DoD alone. Again, that's before the wars. If you really want to pay less in taxes, tell your congressman to buy fewer Tomahawks, or close down Fort Hood.
As I've said, your income tax money isn't going to "help others." The vast majority of it is going to keep the federal government running. There are literally hundreds of places we could go to trim the fat before we start hitting up the $20K and under club for contributions.