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I Hate Tax Brackets

Mirage

Secret Agent
Staff member
V.I.P.
I am hating tax brackets more and more each time I think about them. If you actually think about how they work, it's very unfair. Sure it's convenient, but it doesn't actually make sense.

Here's how it works.

Tax Brackets (Federal Income Tax Rates) 2000 through 2007

If you make over a certain amount of dollars per year, your tax bracket is higher, and you owe more taxes.

Here's what's happening when taxes are done this way. Person A, who makes say $10,000 a year pays $1,500 per year in taxes. 15% of what he or she has made.

Now lets take Person B and give them $100,000 a year. They will be taxed 28% of that money, leaving them with a nice bill of $28,000 for the year. That's 18.6 times more than Person A pays in taxes. NOTICE that Person B does not make 18.6 times as much money as Person A. 18.6 times would be $186,000 a year.

If anything, it should be the same percentage no matter how much you make. Let's think here. Chances are that the people making $10,000 a year are probably working for the people who make $100K+ a year. It's only going to hurt the working class by making the taxes a higher percentage for higher income earners. Why? Well, if they have to pay all of that money to Uncle Sam, they can't pay as much towards paychecks, furthering their business, etc.

Any way you slice it, and no matter how you feel about it, the fact that tax percentages go up depending on how much you make is ridiculous.

So the rich people can afford higher taxes. So? What about the people who make less then $400,000 a year, should they pay the government all of their "extra" money that would normally go towards cable, eating out, and going to the movies? After all, those aren't life necessities and they "can afford" to go without them.

:urp:
 
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