Would you rather be a millionaire or work for Burger King?

Question

If you were a millionaire do you think it would be fair to tax you at approximately half your income every year by the federal government and another 15% by a state tax?

Answer 1

The federal top tier tax rate is 33%, and my home state of Texas has no state or local income taxes.  All told, a Texas "millionaire" (someone earning $1 million per year?) would pay about 25% of his income in taxes.

This would still leave him with about $750,000 to spend, a whole lot more than the dude at Burger King making $6/hour. You honestly would rather work at Burger King and pay no taxes than have a seven figure income and pay an effective marginal rate of about 25%?  Are you high?  Do you know that taxes pay for police, fire departments, roads, schools, bridges, highways, the US military, retirement and healthcare benefits for the vast majority of Americans, etc etc. etc?  Do you really want to live in a country that doesn't have those things?

Answer 2

Nice try.  Top Federal tax rate is currently 37% and Bush, always ready to work hard for the downtrodden and exploited multimillionaires, has promised to lower it further.  Plus, name a state where the tax rate is 15% of total (that's TOTAL--like your scenario presumes,) income.....................................

Thought so.

Answer 3

I don't know who to fear more, the IRS or the Burger King...

Answer 4

I heard them Burger King folks gives you free burgers, so ah'd have to think on it awhile...

Answer 5

Millionaires pay 37%.  Burger King employees pay 0% (federal tax).

And, everyone gets the same amount of services from the federal government.

Since poor people are a bigger drag on the economy, shouldn't they pay MORE taxes than the wealthy?  LOL

Answer 6

I assume you're assuming that a federal income tax on wages is legal to start with. It is not. Just call your local IRS and ask them what law requires it. They can't because there isn't one. It's also unconstitutional. The constitution specifically states that the feds can't do this but what are they doing? EVERY federal politician takes an oath to preserve, protect and defend the constitution and yet this illegal confiscation of your life energy is still going on. I'd rather be the millionaire but whether I am or work at Burger King the feds are legally entitled to NOTHING.They are supposed to get their money from the states. Not me or you directly.

Answer 7

the poor are not paying their fare share,.....

Answer 8

Its true, the bottom 50% wage earners pay the least in taxes if at all. See Rush Limbaugh's homepage for more info. The higher taxes millionaires pay can be avoided through several means I wont get into here. Since most income for this group is through non-salaried earnings such as dividend income, capital gains, portfolio income or other passive sources. The irs allows nice tax breaks for this group if you are smart enough to find them or get a good cpa to find them for you. But its true the wealthiest pay the most in taxes, this in turns adversely affects EVERYONE ELSE!

How? It discourages investment, discourages employment, & economic output is lessened. I think we are heading into a dangerous anti-corporate era, where the poor masses will attempt to institute socialist policies to redistribute wealth.

My motto: Get the govt out of the way and let the businesses have free reign, everyone will be better off.

Answer 9

Yes, I agree with Warren Buffett (one of the richest men in the world) that the rich should pay more than the middle class.

Answer 10

Mmmmmm  Burger King....

Hershey Sundae pies... and mmmmm Butterfinger pies...

But their onion rings are nasty. Whataburger has much better onion rings.

Hmmm... ok, millionaire.  That way, I could buy out Whataburger and Burger King and start selling Whataburger onion rings at Burger King...

Ok.. what was the question again?

Answer 11

For basic needs on the survival and advancement in time.

Luke 12. 29-32

Answer 12

if i were a millionaire i'd declare my own island. or route my funds through an offshore account.

Answer 13

Taxes must be eliminated especially on foods because these are burdensome on the people.  Taxes must be imposed or increased on luxurious items and vices because the rich can pay the taxes.

Answer 14

Actually, as long as we all pay a fair tax rate -- like, say, 20% from everyone except perhaps the people for whom 20% makes the difference between surviving or not -- then the 20% that the millionaires give would be more than generous, wouldn't it?  If I earn $10,000 and pay $2000 to taxes, and someone who earns $10,000,000 pays $2,000,000, that sounds fair to me.

In any case, I would probably rather be a millionaire but, as ever, it depends on what I would have to do for it. I would rather be a free person in a loving family who works for BK than someone who feels imprisoned by strict social pressures and be a millionaire.

Answer 15

well is your question about working for burger king or the fair taxation of millionaires