Back to misrepresenting what I post.
You are a lying troll, nothing more, nothing less.
No, it isnât. The point of taxes is for us to provide the means for the GOVERNMENT to do what it was authorized to do by the Constitution.
Not to pay for your wants.
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Is it? What happens when people lose the incentive for discretionary effort?
Then what was your point in saying âleftiesâ? If you believe itâs righties and lefties, you should have said so.
Yes. Itâs unfounded.
Would you stop trying to be a CEO if you knew that once you made 10,000,001 that every dollar after that would be taxed at 50-70 cents on the dollar?
I wouldnât.
You didnât answer the question.
I did. At least the part that made sense.
What does discretionary effort mean?
Good Lord. Look it up.
Which of these words are you having difficulty understanding, Perhaps I can help?
To the rest of us taxes are the price we pay to have a government and should be no higher than is necessary to support a constitutionally limited government.
We should revert back to either a minimal flat tax where everyone pays the same rate on all incomes or a strict head tax where everyone pays the same.
Buy a dictionary, get an education, or get a tutor to read and explain each of our posts to you.
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It affects discretionary effort zero. If you are making 20k and your goal is to make 20 million. You arenât going to stop because you will be marginally takes at 50% once you get there.
If anything it will make you work harder to make even more. No matter what⌠you are still rich at that point.
Itâs called entitlements and freeloaders.
Reality proves this to be false. Study the âLaffer Curveâ.
You canât convince anyone that you will continue working just as hard or harder to provide luxuries when every dollar you earn above the minimum needed to be comfortable in your life is taxed at an ever greater rate above 50%.
The only people driven to such an extent are those who have already amassed great wealth and are then working for the sake of growing power.
We could seize the wealth of the top 10% tomorrow and not even eliminate the current debt much less fund your socialist utopia going into the future.
The dollars to fund your dream simply do not exist.
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âDiscretionary Effortâ.
Not so very long ago in our history I can remember the guys on the job sitting around figuring out at exactly what point overtime started actually costing us. It varied a little bit with each individualâs tax rates, married/single number of kids etc but for most of us after five hours of OT we started going backwards and at 10hrs OT everyone was in the hole.
Most refused then to work more than 5hrs OT in any given week and virtually all refused to work more than 10hrs OT unless the boss also offered some other incentive such as future paid time off picking up meals and travel expenses in cash etc.
I have 7 ex employees who would disagree.
p.s. We tried redistribution for decades and it doesnât work either.
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I am a sole proprietor.
When Iâm paid for a job,
I deposit 25% for Federal Income tax
I deposit 5% for state income tax.
I deposit 12.4% for SS.
I deposit 2.9% for medicare.
Total taxes on my pay, 45.3%.
The state tax is variable depending on the state I work in. I turn down any job with a state tax rate above 8% or if there are local taxes require.
I bill expenses separately which are not taxable.
Why exactly should I employ people??? Why exactly should I work full-time which pushes my incoming into an incredibly high number??? I dislike giving the government 6 figures in taxes.
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Youâre at about the same point I was which is why at 50 I said âscrew itâ.
The only reason Iâve gone back to work is boredom and the fact I am very good at what I do and like helping others. Mostly I work for cash and the work I do for schools and churches is done at rates that barely cover my costs.
I only work when I want to buy something large. I bought 3 windows for my daughters town home, 3K, so I took a job and made the amount to pay cash for the windows.
Need to buy 3 more so I will do another small job and pay cash for them.
I dod one job last year and the company I did the work for gave me 3 iPhones for the work as I didnât want monetary compensation. Great deal for me, great deal for them.
You donât understand discretionary effort.
Exactly right. For me, anything over 64 hours a week is not worth pulling my boots on.