Top marginal tax rate in US now ~65%

[DinoDoc]

Or not really..

The deal is devoid of any substantive spending cuts and indeed includes additional spending. Why should it get any deficit-reduction credit at all?

[Kidlicious]

Or not really..

The truth is that the CBO warned that ending the Bush tax cuts and automatic spending cuts would put the economy back in recession, but I guess some thought that would be good for our grandchildren.

[Kidlicious]

Do any of the US posters have an idea what their fellow citisens think of the US tax system.
From what I know you have a ridiculous system in place that should not appeal to anyone but for some reason there seems to be no preasure on the politicians to actually do something about it.

USians don't like taxes, period. You will never please them with any tax code.

[Kidlicious]

$4 trillion added to deficit as a result of the fiscal cliff deal.

Even the title of that article is misleading. It should have read "$4 trillion in DEBT added over ten years." But no one knows what the deficit will be in 10 years. Those are simply projections.

[kentonio]

$4 trillion added to deficit as a result of the fiscal cliff deal.

Or not really..

CBO begins its analysis from its March current law baseline that assumes all of Bush-era tax cuts would expire at New Year's Day, and therefore gives no deficit-reduction credit for the fact that the deal begins to raise rates for the wealthiest Americans.

[Sir Og]

Do any of the US posters have an idea what their fellow citisens think of the US tax system.
From what I know you have a ridiculous system in place that should not appeal to anyone but for some reason there seems to be no preasure on the politicians to actually do something about it.

[DinoDoc]

If they become rich, then yes.

$4 trillion added to deficit as a result of the fiscal cliff deal.

[Kidlicious]

On our children and grandchildren?

If they become rich, then yes.

[DinoDoc]

I think the fiscal cliff deal is pretty poor friendly (and middle class friendly), and puts the burden where it belongs.

On our children and grandchildren?

[Kidlicious]

I think the fiscal cliff deal is pretty poor friendly (and middle class friendly), and puts the burden where it belongs.

[kentonio]

So which is it? I'm a virgin, or I'm a male prostitute at the same time. Wow, I must be incredibly good.

Well just a month ago you were a poor teacher on $10k a year. Now you're apparently a business owner struggling under a heavy tax burden. This seems.. odd.

[Dr Strangelove]

How is 35 + 10 + 3.8 equal to 65? Furthermore your 10% state income tax is after your 35% federal tax is subtracted from your income, so it's really 6.6 %.

[Ben Kenobi]

They're taxing male prostitution these days? Wow, times must be hard..

So which is it? I'm a virgin, or I'm a male prostitute at the same time. Wow, I must be incredibly good.

[kentonio]

They're taxing male prostitution these days? Wow, times must be hard..

[Ben Kenobi]

How do you even pay taxes? You earn less than most 18th century chimney sweeps.

I pay more than Obama does! Sales tax, FICA withholding, payroll taxes, SSID, etc. Plus the fact I run my own business too, so I pay both employer + employee federal SSID taxes on that portion of my income.