Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Yahoo)   If you have to be rich, you don't want to be rich in California   (finance.yahoo.com ) divider line
    More: Sad, Mr. Young, high taxes, University of Nevada, Gerard Depardieu, cnnmoney, income taxes, Phil Mickelson, David Geffen  
•       •       •

16125 clicks; posted to Main » on 08 Feb 2013 at 1:18 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



220 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | 3 | 4 | 5 | » | Newest | Show all

 
2013-02-08 01:55:49 AM  

ongbok: Brontes: We'll gladly take your millionaires in Texas.  Move silicon valley over to Austin while you are at it.

The problem with living in Austin is that eventually you will have to venture out into real Texas, and real Texas is a horrible place. From what I've been told.


You should check it out. Other than deep west / panhandle Texas (which is pretty if you're into desolate desert lands), deep east Texas (racist rednecks), and the Mexico border drug wars it's really a nice place. If you like Austin, then it's pretty much all the same in the San Antonio - Dallas - Houston triangle. Honestly when you drive down I-35 you really won't notice driving out of a city at all when driving from Georgetown until you get south of San Antonio.

The thing about Texas and taxes is that our property taxes are ridiculous. Uncle Sam is going to get his, it's just that he doesn't use a state income tax to do it here. That's also argued as being something that unfairly targets lower income families since you can't tie that tax to your income level. Well, outside of not buying / renting what you can't afford.

I've only been to California three times and all 3 times it seemed OK. Twice to stay at VERY nice mansion on the water in Malibu and a VERY nice ranch in Simi Valley, and once to stay in a crappy hotel in Compton (all company trips). But I can't judge CA off of that because that's all I've ever seen of it. That would be like me judging all of Texas with only having seen Austin.
 
2013-02-08 01:55:56 AM  

jehovahs witness protection: Loganville, Ga.


I'd rather be an average working joe in California than the richest person in Loganville, Georgia... wherever the hell that is.
 
2013-02-08 01:56:22 AM  
"Some of those earners seem at least resigned to the tax burden as a cost of being able to live in California rather than, say, Texas "

No brainer &
U get what U pay for
 
2013-02-08 01:57:32 AM  

BuckTurgidson: A state that votes itself reasonable public goods,
then always vehemently votes against any public servant who would dare tally the bill for such goods,

Failing?

[www.ssqq.com image 400x397]


We Californians actually voted to increase some taxes last November as well as vote in a Democratic super majority in the state legislature (which will certainly lead to increased fees).  From my point of view, it looks like Californians are willing to pay more for all our "reasonable public goods."
 
2013-02-08 02:00:08 AM  

Solid State Vittles: jehovahs witness protection: Loganville, Ga.

I'd rather be an average working joe in California than the richest person in Loganville, Georgia... wherever the hell that is.


It's a suburb of Atlanta.

Meh. There are worst places...the suburbs of Dallas and Houston being one of them.
 
2013-02-08 02:03:12 AM  

MadMattressMack: f you like Austin, then it's pretty much all the same in the San Antonio - Dallas - Houston triangle. Honestly when you drive down I-35 you really won't notice driving out of a city at all when driving from Georgetown until you get south of San Antonio.


The thing that I find strange in Texas is that you guys don't seem to abide by any form of city planning, or have anything but the most basic forms of public transit, especially in the suburbs. Sidewalks? Who needs them! Roads to nowhere? You betcha! Bike paths? Get an F-350, hippy.

Other than the downtown cores, all cities are surrounded by sprawling parking lots, one to two story houses, and don't you dare try to walk anywhere further than 1,000 feet without being forced to take a car.
 
2013-02-08 02:04:24 AM  
It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?
 
2013-02-08 02:05:27 AM  

The Larch: We have our priorities all backwards.  We should reward people for being rich and punish people for being poor, because rich people are better. Think of how awesome the world would be if everyone was rich!

That's why I've asked Congress to pass my "poors pays mores" tax plan. The idea is really simple. If you're poor, you pay more in taxes. It's a common-sense plan to punish the worthless slackers who refuse to be rich. Once all the poors see the economic advantages of being rich, they'll work harder and become rich, and then there won't be any more poor people.


Why stop there? How about a game show where the rich hunt down those dirty dastardly lazy poor people and kill them for sport?

We can call it Slacker Hackers.
 
2013-02-08 02:06:06 AM  

FizixJunkee: HotWingAgenda: I'm in California, and part of the working poor.  My boss handed me my W-2 this year, and it showed my taxable earnings as an obscenely high number I've never seen before.  I thought it was a mistake, because if I was getting paid that much, I wouldn't be looking for a new job.

Over 25% of my pay went to state and Federal government for various automatic withholdings, and I still owe $5 each on my tax return to California and the Feds.

We had the same general response you did when we did our 2012 tax returned.  Our MAGI was just over $120,000 but we feel very poor in comparison to most folks around us.  Paying $24,000/year in rent probably contributes to that.

\we're moving in a couple months
\\we'll finally be able to buy a house!!!


Congratulations!
 
2013-02-08 02:08:21 AM  

OgreMagi: It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?


Probably North Carolina.

All the godless heathen Yankees in the Raleigh-Durham-Chapel Hill Triangle and Charlotte are slowly turning what was a solidly red state purple.

Meaning that it's politics will moderate over time.

Texas will probably go down that same road in a decade or two.
 
2013-02-08 02:09:11 AM  

RealFarknMcCoy2: Boo farking hoo. It's the tax rate on income over a million dollars per year. Pardon me while I cry a river for those poor, destitute multi-millionaires...


It's not just one tax here in California.  Across the board, we have some of the highest taxes in the entire country.  They only thing that isn't high is property taxes.  And even though Federal taxes are the same rates across the country, California paychecks are higher but we have a higher cost of living.  So we pay more Federal income tax but aren't really making more money once you adjust (New York City probably has this same problem).
 
2013-02-08 02:12:08 AM  

OgreMagi: It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?


Seattle. We have plenty of tech companies here. Not all that atrocious of property taxes (paid $1,200 last year), housing is pretty affordable right now and no state income taxes. You do have to put up with ~8-10% sales taxes though.
 
2013-02-08 02:17:10 AM  

OgreMagi: So where does a social liberal, fiscal conservative go?


Northern Virginia, if they ever succeed in seceding from the rednecks in the southern half of the state.  Ultra tech savvy, ultra socially liberal, with a deep-seated hatred towards government handouts.

/can you tell I grew up there?
 
2013-02-08 02:17:19 AM  
I thought Google wanted a Red Nexus
 
2013-02-08 02:18:32 AM  

MrSteve007: OgreMagi: It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?

Seattle. We have plenty of tech companies here. Not all that atrocious of property taxes (paid $1,200 last year), housing is pretty affordable right now and no state income taxes. You do have to put up with ~8-10% sales taxes though.


Don't you guys hate transplant Californians with the heat of a super nova?
 
2013-02-08 02:20:42 AM  

RealFarknMcCoy2: Boo farking hoo. It's the tax rate on income over a million dollars per year. Pardon me while I cry a river for those poor, destitute multi-millionaires...


To be totally fair, in Silicon Valley, you make a million bucks once (when you exit, if you're lucky) and then never get that close again (unless you get a 9 or 10-digit exit more than once, which is a bit like winning the lotto).  Unless you're one of the VC's who are already worth 9 or 10 figures to begin with of course.

And since the average starter house is over a million bucks, it's not like the single-multi-millionaires (vs. the multi-multi-millionaires) are rolling in it.

/Getting dinged for 37% (+ 9.X% sales) and I'm underpaying so I can pay off student loans faster.
//Making 2.5x as much as my father in Michigan and living a lower lifestyle.  
///I've got no idea how the min-wage workers do it.  The studio of sadness was $1250/month, which is an entire month's pay after-tax at min-wage.
////I wouldn'tnecessarily mind it if it could tell where the ~13% of my income that I pay in state taxes (+ the $1000 that I had to pay to register my car) went, but it doesn't seem to go anywhere.  At least Michigan had decent traffic (with a couple of exceptions.  Stay off I-696 heading west in the afternoons), and could keep the roads more or less patched on their ~8%.  California can't even do that.
 
2013-02-08 02:21:01 AM  

HotWingAgenda: OgreMagi: So where does a social liberal, fiscal conservative go?

Northern Virginia, if they ever succeed in seceding from the rednecks in the southern half of the state.  Ultra tech savvy, ultra socially liberal, with a deep-seated hatred towards government handouts.

/can you tell I grew up there?


LOL.  My roommate tried to convince me I should move to Roanoke Virginia.  Which I believe is in the southern half of the state.
 
2013-02-08 02:21:24 AM  

OgreMagi: It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?


Austin.
 
2013-02-08 02:23:11 AM  

DO NOT WANT Poster Girl: OgreMagi: It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?

Austin.


When I was a teenager my family drove through Austin.  I remember the damn city stank.  This was back in the dark ages, so perhaps things have changed since then.
 
2013-02-08 02:25:27 AM  

Meatybrain: You deduct state taxes. It doesn't add to your tax burden, it just moves it around a bit.

If you're too stupid to realize this, you don't deserve to be a farking millionaire, you gilded asswipe.


Wrong. You deduct state income tax from your federal taxable income as part of your itemized deductions. It's a deduction. It's not a tax credit that offsets your federal taxes dollar-for-dollar. State income tax does add to your tax burden.
 
2013-02-08 02:26:01 AM  

OgreMagi: RealFarknMcCoy2: Boo farking hoo. It's the tax rate on income over a million dollars per year. Pardon me while I cry a river for those poor, destitute multi-millionaires...

It's not just one tax here in California.  Across the board, we have some of the highest taxes in the entire country.  They only thing that isn't high is property taxes.  And even though Federal taxes are the same rates across the country, California paychecks are higher but we have a higher cost of living.  So we pay more Federal income tax but aren't really making more money once you adjust (New York City probably has this same problem).


I am a California native. I know what California's taxes are like. I still say, if you're pulling in more than a million dollars a year, you don't deserve any farking sympathy.
 
2013-02-08 02:28:04 AM  

SirCodeAlot: Ed Willy: Problem is no Silicon Valley computer scientist wants to live in a state where the education board is dominated by creationists, no matter the low tax rates.

umm yeah, why would income matter to a computer scientist. We are all about the local education board's view points. ....dumb ass sparty

// For the record, just took a Job in Austin this summer. Turned down offers from LA and Silicon and CT. Money does farking matter


Well, as a programmer (per your name) you really should be in Mumbai.

\Snark mode
 
2013-02-08 02:29:44 AM  
You could tax close to 90% and nothing would change... but if these millionaires want to live in Corpus Christi... hell, i can't even finish that sentence, it's so absurd.

Sure, biatch all you want. all us "poors'd" be happy to trade places with you.
 
2013-02-08 02:30:28 AM  

MrSteve007: Seattle. We have plenty of tech companies here. Not all that atrocious of property taxes (paid $1,200 last year), housing is pretty affordable right now and no state income taxes. You do have to put up with ~8-10% sales taxes though.


But then you have to deal with Seattle weather.  There's a reason you have the highest suicide rates in the nation.
 
2013-02-08 02:32:04 AM  

RealFarknMcCoy2: OgreMagi: RealFarknMcCoy2: Boo farking hoo. It's the tax rate on income over a million dollars per year. Pardon me while I cry a river for those poor, destitute multi-millionaires...

It's not just one tax here in California.  Across the board, we have some of the highest taxes in the entire country.  They only thing that isn't high is property taxes.  And even though Federal taxes are the same rates across the country, California paychecks are higher but we have a higher cost of living.  So we pay more Federal income tax but aren't really making more money once you adjust (New York City probably has this same problem).

I am a California native. I know what California's taxes are like. I still say, if you're pulling in more than a million dollars a year, you don't deserve any farking sympathy.


I don't make a million dollars, but I still say my taxes are too high.  And people who think it's ok to screw people over just because they have more are greedy bastards who just want a piece of someone else's pie without having to work for it.
 
2013-02-08 02:33:08 AM  

DarkLancelot: SirCodeAlot: Ed Willy: Problem is no Silicon Valley computer scientist wants to live in a state where the education board is dominated by creationists, no matter the low tax rates.

umm yeah, why would income matter to a computer scientist. We are all about the local education board's view points. ....dumb ass sparty

// For the record, just took a Job in Austin this summer. Turned down offers from LA and Silicon and CT. Money does farking matter

Well, as a programmer (per your name) you really should be in Mumbai.

\Snark mode


Well, I do like curry.
 
2013-02-08 02:33:40 AM  

DarkLancelot: SirCodeAlot: Ed Willy: Problem is no Silicon Valley computer scientist wants to live in a state where the education board is dominated by creationists, no matter the low tax rates.

umm yeah, why would income matter to a computer scientist. We are all about the local education board's view points. ....dumb ass sparty

// For the record, just took a Job in Austin this summer. Turned down offers from LA and Silicon and CT. Money does farking matter

Well, as a programmer (per your name) you really should be in Mumbai.

\Snark mode


Is english spoken there?
/perfer spanglish with a bit of italian and a side of california
 
2013-02-08 02:34:57 AM  

fat boy: davidphogan: I had the option when I worked in Washington to move there and skip Oregon's 9% or whatever income tax rate, but still get to shop in Portland with a 0% sales tax.  The problem was, Vancouver would suck to live in, and Portland doesn't.  That 9% penalty was worth it.

I wasn't making anywhere near the $1m to hit the levels they're talking about in the article, but 9% of my salary wasn't enough to live in a shiathole.  You get what you pay for.

Oh now, Vantucky taint all that bad


It's not the worst place I could live by any means.  But, I don't want to live there.

I could have saved a lot of money, saved some time, and sucked it up and dealt with living in Riverside instead of choosing between LA/OC/SD.  I chose San Diego because quality of life is more important than money sometimes.

If people are willing to relocate to somewhere shiattier to save the kind of money in a month that would be a retirement fund to someone like me, great.  Go for it.  It just means that places that are actually decent to live become a little cheaper because you don't have some millionaire asset taking up as much space.

I'd rather live somewhere with a few less millionaires but people who care about having a good place to live.
 
2013-02-08 02:35:42 AM  

Meatybrain: You deduct state taxes. It doesn't add to your tax burden, it just moves it around a bit.

If you're too stupid to realize this, you don't deserve to be a farking millionaire, you gilded asswipe.


Ah, yes.  Tax advice from someone who has obviously never actually paid income taxes because if they did, they'd know this isn't actually true.  You'll get a slight savings on your Federal taxes, but only a fraction of what you lost in the state tax.
 
2013-02-08 02:37:42 AM  

OgreMagi: RealFarknMcCoy2: OgreMagi: RealFarknMcCoy2: Boo farking hoo. It's the tax rate on income over a million dollars per year. Pardon me while I cry a river for those poor, destitute multi-millionaires...

It's not just one tax here in California.  Across the board, we have some of the highest taxes in the entire country.  They only thing that isn't high is property taxes.  And even though Federal taxes are the same rates across the country, California paychecks are higher but we have a higher cost of living.  So we pay more Federal income tax but aren't really making more money once you adjust (New York City probably has this same problem).

I am a California native. I know what California's taxes are like. I still say, if you're pulling in more than a million dollars a year, you don't deserve any farking sympathy.

I don't make a million dollars, but I still say my taxes are too high.  And people who think it's ok to screw people over just because they have more are greedy bastards who just want a piece of someone else's pie without having to work for it.


That and the fact they fail to grasp the whole supply and demand concept, and how it relates to marketable skills.

Amazingly enough, people aren't willing to pay a lot of money for doing shiat any other jackass can, or is willing, to do.

Funny how that works.
 
2013-02-08 02:39:06 AM  

OgreMagi: Don't you guys hate transplant Californians with the heat of a super nova?


It's all in how you come off.

Example A: Talk about how crappy the weather is compared to So. Cal, wondering when the sun returns - How much you miss being able to have a tan year-round, that it's impossible to keep your BMW clean, and asking what people do for fun around here. You'd be surprised at how many transplants are like that.

Example B: Say that you came up here for the booming tech industry, and once you saw how clean the air is, close the mountains are and how cool the vibe is overall, you had to stay (while wearing a North Face fleece vest and jeans). You'll be accepted in seconds.

This is a pretty good account of a Cali transplant making the adjustment (warning, NSFW photo in article)

/both parents and brothers were So-Cal transplants
//only Washingtonian in the family
 
2013-02-08 02:40:25 AM  
I would pay an enormous sum annually to not live in Texas.
 
2013-02-08 02:42:56 AM  

Brontes: We'll gladly take your millionaires in Texas.  Move silicon valley over to Austin while you are at it.


Why not to the capitol instead?
 
2013-02-08 02:43:34 AM  

OgreMagi: RealFarknMcCoy2: OgreMagi: RealFarknMcCoy2: Boo farking hoo. It's the tax rate on income over a million dollars per year. Pardon me while I cry a river for those poor, destitute multi-millionaires...

It's not just one tax here in California.  Across the board, we have some of the highest taxes in the entire country.  They only thing that isn't high is property taxes.  And even though Federal taxes are the same rates across the country, California paychecks are higher but we have a higher cost of living.  So we pay more Federal income tax but aren't really making more money once you adjust (New York City probably has this same problem).

I am a California native. I know what California's taxes are like. I still say, if you're pulling in more than a million dollars a year, you don't deserve any farking sympathy.

I don't make a million dollars, but I still say my taxes are too high.  And people who think it's ok to screw people over just because they have more are greedy bastards who just want a piece of someone else's pie without having to work for it.


And yet, I probably pay higher taxes and have a higher cost of living than you do, and don't begrudge it. Different strokes, I guess. *shrugs*
 
2013-02-08 02:43:54 AM  

uselessgit: I'm waiting for the flood of rich liberals who are going to flock to CA in order to be good citizens and pay the highest tax possible.


That's one of the stupidest things I've ever read.
 
2013-02-08 02:44:31 AM  

OgreMagi: It's not just income taxes that are high.  It's all taxes and fees.  California is one of the most expensive states to do business in.  If a business is not geographically bound, you'd be hard pressed to find a good reason to open a new business here.  Tech companies stick around because of the concentration of talent in the valley, but even they are starting to look at alternatives.  Texas is building up enough tech industry that they could reach a tipping point that will seriously hurt the state of California.

I live in California because I was born here, I love the climate, and I'm a tech worker.  Each year I question my state loyalty and wonder if I should consider moving.  So where does a social liberal, fiscal conservative go?


Spend 5 minutes looking at the midwest.  Most of the major cities are fairly liberal, the burbs are conservative in that not terribly offensive, midwestern, slightly white-bread conservative way and the cost of living is low enough and wages high enough that a life-long now-retired schoolteacher can own 3 homes and ~8 cars (though one of the houses is about to fall into the lake, which is why it was so cheap).

Of course the job market sucks right now, for the fun little startups.  Big corp, you're fine.  Lots of financial in Chicago, and of course the auto companies in Detroit.
 
2013-02-08 02:44:31 AM  
t0.gstatic.com
 
2013-02-08 02:45:00 AM  
According to the U.S. Census Bureau, from 2000 to 2010, California lost a net of 519,600 jobs while Texas gained 1,093,600 jobs. This fueled a net domestic outward migration of middle class families from California, with almost two million more Americans moving out of California than moving in. Meanwhile, Texas saw a net gain of 781,542 from domestic migration, with about 1,000 people per day moving into the state in 2009.

/It's not just rich people
//It's not just California
///I'm counting the days
 
2013-02-08 02:46:11 AM  

ShawnDoc: But then you have to deal with Seattle weather. There's a reason you have the highest suicide rates in the nation.


I thought so too, but interestingly, this Business Insider article doesn't even put us in the top-15. Bloomberg news says Portland OR is the unhappiest city (Seattle is #20).
 
2013-02-08 02:49:58 AM  

AverageAmericanGuy: Lately I've been thinking of ways to skirt tax laws, because ever since the dollar's gone to shiat my tax burden has been pretty hefty, even though I live and work overseas.

What if you weren't taxed on your income, but on the percentage of your income left over after deducting all your expenses. Food, housing, repairs, fuel, toys, video games, TVs, every expense. Since you're spending that money, it's going back into the economy, so it's not being hoarded and removed from the economy. Then, at the end of the year, if you spent everything you have, you aren't going to get hit by a tax bill that sends you into debt. Rather, you'd owe nothing since you've already passed along the money.

The remainder of the unspent income could be taxed, which would put a greater burden on high-income earners who would either pay taxes on a larger amount or would spend in greater amounts. Either way is a net benefit to society. Low-income earners who are eking out their existence wouldn't pay any tax at all.


Are you going to subtract credit card debt from the leftover money? What about investments? Wouldn't you be punishing people who are trying to save money to buy a home or start a business?
 
2013-02-08 02:52:39 AM  

MrSteve007: ShawnDoc: But then you have to deal with Seattle weather. There's a reason you have the highest suicide rates in the nation.

I thought so too, but interestingly, this Business Insider article doesn't even put us in the top-15. Bloomberg news says Portland OR is the unhappiest city (Seattle is #20).


Yet Portland's the 5th best city to live in. Go figure.
 
2013-02-08 02:54:40 AM  

fusillade762: AverageAmericanGuy: Lately I've been thinking of ways to skirt tax laws, because ever since the dollar's gone to shiat my tax burden has been pretty hefty, even though I live and work overseas.

What if you weren't taxed on your income, but on the percentage of your income left over after deducting all your expenses. Food, housing, repairs, fuel, toys, video games, TVs, every expense. Since you're spending that money, it's going back into the economy, so it's not being hoarded and removed from the economy. Then, at the end of the year, if you spent everything you have, you aren't going to get hit by a tax bill that sends you into debt. Rather, you'd owe nothing since you've already passed along the money.

The remainder of the unspent income could be taxed, which would put a greater burden on high-income earners who would either pay taxes on a larger amount or would spend in greater amounts. Either way is a net benefit to society. Low-income earners who are eking out their existence wouldn't pay any tax at all.

Are you going to subtract credit card debt from the leftover money? What about investments? Wouldn't you be punishing people who are trying to save money to buy a home or start a business?


It would punish people who are trying to save and help people who are in debt. At the end of the year, if you are +-0 you pay no taxes. On the negative side of that you'll get a refund of some percentage of that amount and on the positive side you get to pay taxes on that amount.

But on the other hand, any money saved could be left untaxable, so saving would still be possible, you'd just have to take the tax off the front end of it.
 
2013-02-08 02:56:15 AM  
24.media.tumblr.com
 
2013-02-08 02:57:08 AM  
In the uk anyone earning only £40k pays 40pc tax- no wonder the US rich stay rich, they get paid more and pay virtually no tax till they are millionaires! Probably explains why the US debt is measured in Trillions.
 
2013-02-08 02:59:27 AM  

illannoyin: According to the U.S. Census Bureau, from 2000 to 2010, California lost a net of 519,600 jobs while Texas gained 1,093,600 jobs. This fueled a net domestic outward migration of middle class families from California, with almost two million more Americans moving out of California than moving in. Meanwhile, Texas saw a net gain of 781,542 from domestic migration, with about 1,000 people per day moving into the state in 2009.

/It's not just rich people
//It's not just California
///I'm counting the days


Texas leads the nation in minimum-wage jobs, and many positions don't offer health benefits. (...) Some 550,000 workers last year were paid at or below the federal minimum wage of $7.25, more than double the number making those wages in 2008,

Visit Texas for the humidity. Stay for the poverty.
 
2013-02-08 02:59:29 AM  

Brontes: We'll gladly take your millionaires in Texas.  Move silicon valley over to Austin while you are at it.


Better to rule in Hell than serve in Heaven, eh?
 
2013-02-08 03:02:22 AM  

sminkypinky: In the uk anyone earning only £40k pays 40pc tax- no wonder the US rich stay rich, they get paid more and pay virtually no tax till they are millionaires! Probably explains why the US debt is measured in Trillions.


If the US was paying for all the same benefits UK residents get for those taxes, the debt wouldn't necessarily be going down. We don't pay as much in taxes, but we have to pay for our own health care - to the tune of at least several hundred dollars a month. (And it doesn't look like that's getting better any time soon.)
 
2013-02-08 03:02:37 AM  

fusillade762: AverageAmericanGuy: Lately I've been thinking of ways to skirt tax laws, because ever since the dollar's gone to shiat my tax burden has been pretty hefty, even though I live and work overseas.

What if you weren't taxed on your income, but on the percentage of your income left over after deducting all your expenses. Food, housing, repairs, fuel, toys, video games, TVs, every expense. Since you're spending that money, it's going back into the economy, so it's not being hoarded and removed from the economy. Then, at the end of the year, if you spent everything you have, you aren't going to get hit by a tax bill that sends you into debt. Rather, you'd owe nothing since you've already passed along the money.

The remainder of the unspent income could be taxed, which would put a greater burden on high-income earners who would either pay taxes on a larger amount or would spend in greater amounts. Either way is a net benefit to society. Low-income earners who are eking out their existence wouldn't pay any tax at all.

Are you going to subtract credit card debt from the leftover money? What about investments? Wouldn't you be punishing people who are trying to save money to buy a home or start a business?


Hey, corporations are people, too.  The Supreme Court says so.  So either they pay taxes the way we do, which means they pay on gross income, not net.  Or we get to pay taxes the same way they do.  Which means my housing and vehicle expenses are part of the cost of doing businesses (in my case, staying alive is the business).
 
2013-02-08 03:05:14 AM  

anfrind: I don't know about anyone else, but if someone offered me a job that paid over $1 million per year, I wouldn't be particularly worried about being in a higher tax bracket.


My financial adviser is fond of saying that his goal for us is to some day pay a million dollars in taxes.  Granted, he is exaggerating just a little, the point being that if you are paying a lot in taxes then you are doing OK.

If any of you rich people don't like all the taxes you have to pay then I will gladly trade you my income for yours and take over that terrible burden for you.
 
2013-02-08 03:06:39 AM  
If you make money in a certain place, shouldn't you pay the taxes where the money was made?
 
Displayed 50 of 220 comments


Oldest | « | 1 | 2 | 3 | 4 | 5 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »
On Twitter








In Other Media
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report