Who deserves a tax cut? Sqotty's people working hard in difficult jobs on $200k or more.

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Kram

I'll brik u
May 2, 2007
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I am one of those people. there are no loopholes. No deductions.

And the tax advice from experts is that there are no loopholes and deductions.

I pay tax today on super i can’t touch for 30 years. I pay full child care fees while everyone else I know gets massive subsidies.

it’s fake news that workers on high incomes avoid paying tax. We don’t. At least not in this country.

high income owners on 200 plus thousand a year pay the same marginal tax rate as those earning 20-30 million a year.


the People who can avoid paying their full extent of taxes are the extremely rich Capital owners. Not the high income workers.
It's the vibe.
 

Kram

I'll brik u
May 2, 2007
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Screw taxes it's the sophisticated 708 investor BS rich people get that really stinks.
 

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Bestbird

Norm Smith Medallist
Nov 18, 2004
5,923
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I am one of those people. there are no loopholes. No deductions.

And the tax advice from experts is that there are no loopholes and deductions.

I pay tax today on super i can’t touch for 30 years. I pay full child care fees while everyone else I know gets massive subsidies.

it’s fake news that workers on high incomes avoid paying tax. We don’t. At least not in this country.

high income owners on 200 plus thousand a year pay the same marginal tax rate as those earning 20-30 million a year.


the People who can avoid paying their full extent of taxes are the extremely rich Capital owners. Not the high income workers.
I use to manage an executive payroll and many were claiming a 221d tax variation to reduce there tax to a fixed percentage
 

Seeds

Hall of Famer
Sep 15, 2007
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I use to manage an executive payroll and many were claiming a 221d tax variation to reduce there tax to a fixed percentage
That doesn’t lower your overall annual tax though does it? Doesnot it just ensure you don’t get lumped with a big tax bill at one time but the overall amount or tax is still the same.
 

Seeds

Hall of Famer
Sep 15, 2007
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******* huge.
most people think a rich person is someone who earns triple of what they do At their peak wage.

someone on the median income thinks somone earning 200 thousand is rich. Likewise someone on 200 thousand thinks someone earning 600 thousand is rich.


what income do you think is rich?
 

Chief

Chugging Adrenochrome
Dec 1, 1999
102,415
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most people think a rich person is someone who earns triple of what they do At their peak wage.

someone on the median income thinks somone earning 200 thousand is rich. Likewise someone on 200 thousand thinks someone earning 600 thousand is rich.


what income do you think is rich?
Dunno mate. I am sure there is a complicated definition that I would agree with.

"On 200k" or "on 600k" isn't really a good definition. "Rich" is not really based on wage. The richest guy I know once had about $200 in his bank account, but several properties on the go. His income from one year to the next would fluctuate wildly but he was still rich. He is now super-rich, like, a few hundred million bucks or so.
 

Seeds

Hall of Famer
Sep 15, 2007
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Dunno mate. I am sure there is a complicated definition that I would agree with.

"On 200k" or "on 600k" isn't really a good definition. "Rich" is not really based on wage. The richest guy I know once had about $200 in his bank account, but several properties on the go. His income from one year to the next would fluctuate wildly but he was still rich. He is now super-rich, like, a few hundred million bucks or so.
Exactly. Wealth isn’t determined by income. Yet for some reason we only tax income. Not wealth.

this discriminates against people who create all their wealth themselves (as compared to those who inherit) and it also discriminates against the young who have no starting assets.
 

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Magruder

Brownlow Medallist
Nov 14, 2012
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Exactly. Wealth isn’t determined by income. Yet for some reason we only tax income. Not wealth.

this discriminates against people who create all their wealth themselves (as compared to those who inherit) and it also discriminates against the young who have no starting assets.
Yes.

Income is quite often determined by the capacity to derive rents from capital.

The differential tax rates applied to income derived from gain on capital is part of the problem, but the main issue for me is the proportion of returns directed to capital rather than creative or innovative labour.
 

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