Comments on: Tax Rates – How Much Do You Really Pay? http://eliminatethemuda.com/2009/09/tax-rates-how-much-do-you-really-pay/ Where we prove that it is easier to save a dollar than to make a dollar! Tue, 03 Jan 2012 01:16:38 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Fernando Rinehimerhttp://eliminatethemuda.com/2009/09/tax-rates-how-much-do-you-really-pay/#comment-193 Fernando Rinehimer Sat, 02 Jan 2010 03:48:47 +0000 http://eliminatethemuda.com/?p=882#comment-193 Thank you for the amazing post. I hope you had an amazing New Year!!. Hopefully you didn't have to to put on your <a href="http://www.bluedefene.com/body-armor/tactical-body-armor/" rel="nofollow">tactical body armor</a> with all those fools blasting their automatic weapons into the air. Thank you for the amazing post. I hope you had an amazing New Year!!. Hopefully you didn’t have to to put on your tactical body armor with all those fools blasting their automatic weapons into the air.

]]> By: The Katana: Don't Count Out The US Consumer! Week In Review 11/30 | Financial Samuraihttp://eliminatethemuda.com/2009/09/tax-rates-how-much-do-you-really-pay/#comment-114 The Katana: Don't Count Out The US Consumer! Week In Review 11/30 | Financial Samurai Mon, 30 Nov 2009 09:02:24 +0000 http://eliminatethemuda.com/?p=882#comment-114 [...] * “How Much Do You Really Pay In Taxes” by LeanLifeCoach provides a clear illustration of how much of our hard earned money is being forked over to the government.  It’s really kind of depressing, but knowledge is what will set you free! [...] [...] * “How Much Do You Really Pay In Taxes” by LeanLifeCoach provides a clear illustration of how much of our hard earned money is being forked over to the government.  It’s really kind of depressing, but knowledge is what will set you free! [...]

]]> By: Financial Samuraihttp://eliminatethemuda.com/2009/09/tax-rates-how-much-do-you-really-pay/#comment-107 Financial Samurai Sat, 28 Nov 2009 04:00:49 +0000 http://eliminatethemuda.com/?p=882#comment-107 Great run down of how much taxes we really pay Lean! It's better I not know, b/c I just get annoyed and figure out ways to set up residency in Nevada or Washington! Great run down of how much taxes we really pay Lean! It’s better I not know, b/c I just get annoyed and figure out ways to set up residency in Nevada or Washington!

]]> By: adminhttp://eliminatethemuda.com/2009/09/tax-rates-how-much-do-you-really-pay/#comment-42 admin Sat, 26 Sep 2009 14:28:34 +0000 http://eliminatethemuda.com/?p=882#comment-42 radnip: Thanks for the comment. I understand how you feel. Even one of the wealthiest men in the country, Warren Buffett, agrees that the wealthy can and should pay a greater rate of taxes. However the link above to the CBO breaks down taypayer's into 5 groups from low income to high. The highest quintile group averages 25.8% tax rate which is more than any other. They also showed the top 10%, 5% and 1% earners and reflected those making 1,200,000 - 1,700,000 have a tax rate of 31.2%. Can someone that makes this kind of money afford to pay more? IMHO... No doubt. But should they? Personally, I am mixed. I admire Buffett's point. However, every dollar he pays in taxes is a dollar he cannot use to build a company that hires more people. Right now our country needs jobs. radnip:

Thanks for the comment. I understand how you feel. Even one of the wealthiest men in the country, Warren Buffett, agrees that the wealthy can and should pay a greater rate of taxes.

However the link above to the CBO breaks down taypayer’s into 5 groups from low income to high. The highest quintile group averages 25.8% tax rate which is more than any other.

They also showed the top 10%, 5% and 1% earners and reflected those making 1,200,000 – 1,700,000 have a tax rate of 31.2%.

Can someone that makes this kind of money afford to pay more?

IMHO… No doubt. But should they?

Personally, I am mixed. I admire Buffett’s point. However, every dollar he pays in taxes is a dollar he cannot use to build a company that hires more people.

Right now our country needs jobs.

]]> By: radniphttp://eliminatethemuda.com/2009/09/tax-rates-how-much-do-you-really-pay/#comment-41 radnip Sat, 26 Sep 2009 09:58:02 +0000 http://eliminatethemuda.com/?p=882#comment-41 And what do you think the effective tax rate is of someone who is self-employed (with their own business) making $500k a year? How about someone making $1,000,000/year with $500,000 being paid to an overseas account? Figure it out and you'll know who's really ripping you off. And what do you think the effective tax rate is of someone who is self-employed (with their own business) making $500k a year? How about someone making $1,000,000/year with $500,000 being paid to an overseas account? Figure it out and you’ll know who’s really ripping you off.

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