Re:Universal Basic Income and the New Corporatist Democrats
by jeremyt on Thursday August 11, 2016 @01:30PM
(#12270127)
Are you kidding?
An upper income taxpayer in California pays 39.6% federal, 10% state. On top of that there are sales taxes, property taxes, payroll taxes, unemployment benefit insurance, the 3.4% Medicare surcharge, car registration taxes and fees, transfer taxes on assets, and estate taxes when you die.
Explain to me how that doesn't add up to more than 50%?
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Re:Universal Basic Income and the New Corporatist Democrats
by Apocryphon on Thursday August 11, 2016 @01:39PM
(#12270213)
Mitt Romney paid 14% in 2011, so I'm certain there are ways around paying the full price.
Re:Universal Basic Income and the New Corporatist Democrats
by jeremyt on Friday August 12, 2016 @08:24PM
(#12279624)
Mitt Romney paid 14% federal, that doesn't include state. And the person I was responding to said that there is "nobody" paying more than 50%.
FYI, he paid 14% federal because most of his money came from carried interest which is taxed like dividends. The 14% is only after the same income is taxed at the corporate level at 35%.