So. Imagine you make $1,000,000.00 per year and pay 90% in income tax. This leaves you $100,000 per year...?

Question

to live on. Is this a hardship? Would you have a hard time living on that? May I have some of that hardship, please?

Answer 1

If income tax was 90%, we'd never have to pay for anything.  The government could subsidize everything.  So yes, I think you could live very well on that.

Not saying I'd like income tax that high, though...

Answer 2

thank you for at least admitting that much of the rhetoric for "change and reform" is actually driven by petty jealousy and people's selfish desires to take what other people have....rather than work for it themselves....

Answer 3

Okay GENIUS...now lets say you own a business and have $50K a year in business expenses, still paying off the college loans that made it possible to make that much money $10-15K a year...that leaves you with about how much, $35K a year....and that's excluding housing, food, car, etc...who the h**l are you or the Govt to take MY money and give it to people who didn't earn it...if you wanna donate to them, feel free and I might do the same but keep ur nasty little digits off my money!!!!!!!!!!!

Answer 4

Well, since there is no US income tax bracket that is even as high as a third of that, and since such brackets only kick in on income ABOVE their starting levels, this makes little sense.

If your point is that the rich can afford to pay taxes, of course, thats quite true.

In the US, people pay the lowest rate of taxes in the 1st World. Of course, since the US doesn't provide as many services as do the rest of the 1st world nations, one must then add in all the money that Americans have to shell out to non governmental bodies for the services that the public sector provides elsewhere.

So, Americans DO pay out a lot of money; its just not all in taxes. In Canada, we actually spend LESS (per capita) on health care, yet we cover 100% of our people.

I cannot pity those who cannot afford their second yacht, when the Republican gov't sees fit to have a federal budget deficit of over $400 BILLION next year.

Theres one thing worse than tax and spend Democrats: Spend and DON'T tax (Pay for it) Republicans.

Answer 5

Totally agree with B.  I suggest the rest of you do a lot of researching on Obama's tax plans.  You just may be out of a job come 2009, as more and more business's will be closing their doors, and others will be heading out of the country.

Answer 6

you are probably bad in math and common sense that is why you  do  not get 100k.



these hypotheticals are a partisan hack job, I wish people would ask about real issues  / facts.

- There is no 90%  income tax, top tax bracket is 35% , so do not scare anyone.  

-  35 %  does not mean you pay 35%  of 1,000,000. it gradually  kicks in  after  357K.   So in reality you would pay less  aproximately 33% . (329K)

Answer 7

If I made 1,000,000.00 per year I would be smart enough to have a good tax lawyer and off shore accounts just like my rich friends, who don't pay taxes because of "loop holes".

Answer 8

I wouldn't mind having a piece of that pie myself!!!

Answer 9

I wouldnt have any hard ships i dont think... but i would not take the job... i wouldnt work for a million to get 10% im sure youd have to bust yer @ss to get that job and it wouldnt be worth it.

Answer 10

What the h**l is wrong with you?  This country is the land of opportunity.  If you work hard and sacrifice, then you can attain your goals and dreams.  

Why do people want the govt. to provide for them?  Are you that lazy?  People are rewarded for their ambition and their sacrifices.  Those people that work hard and get a good education should have a much better lifestyle than you.

That secular progressive way of thinking is so wrong and trying to ruin our great nation.  Get off your butt and work hard.

Answer 11

What if you were making $50,000, so now your left with $5,000 ?  Would you consider that possible to live with only $5,000.

Biggest thing is where and what is 90% of my money going towards. If that 90% pays for without problems, education, roads, health care, comfortable housing for my family, payment of my utilities for cost of living, gorceries, transportation, etc.....

Then I could see living with $100,000 of additional income per year.

If i recvieve nothing but a pat on my back for the hard work i put in and myabe a little "help" with educaiton for my kids and the ability to have health care at the local county hospital then absolutly not.

Answer 12

You need to rethink the idea. Most people making $1,000,000 a year are people that have a business that employees people. If you take away their money then they don't hire people. The government does not need to be spending money on everything. "A government that governs least governs best". IF you think that that is good then you need to take a trip to many of the socialist countries around the world and see just how bad it would suck to take 90% of what you make and then give it to some group that the government funds.

Answer 13

I'd love to get that much back after taxes.  Of course, I'd really wish I had more of the $900,000 the government took from me.  I know I would do a better job spending it than they would.