Poll

2 votes (11.11%)
16 votes (88.88%)

18 members have voted

thecesspit
thecesspit
Joined: Apr 19, 2010
  • Threads: 53
  • Posts: 5936
March 7th, 2011 at 7:00:54 PM permalink
Quote: AZDuffman

yes--1775



I was going to guess at around 1860, before income tax was first levied as a temporary measure for fighting the Civil War.... (it was x% on all earning about $400, as I recall from reading a few hours ago)
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
AZDuffman
AZDuffman
Joined: Nov 2, 2009
  • Threads: 231
  • Posts: 12756
March 8th, 2011 at 5:03:09 PM permalink
Quote: thecesspit

I was going to guess at around 1860, before income tax was first levied as a temporary measure for fighting the Civil War.... (it was x% on all earning about $400, as I recall from reading a few hours ago)



I think my humor might be too dry/sarcastic?
All animals are equal, but some are more equal than others
thecesspit
thecesspit
Joined: Apr 19, 2010
  • Threads: 53
  • Posts: 5936
March 8th, 2011 at 5:10:34 PM permalink
Quote: AZDuffman

I think my humor might be too dry/sarcastic?



Nope, the recipient is being too literal.. Yanks are not known for their dry sarcastic wit. It warps my poor little British mind when it`s used on me from the colonies :)
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
AZDuffman
AZDuffman
Joined: Nov 2, 2009
  • Threads: 231
  • Posts: 12756
March 8th, 2011 at 5:30:34 PM permalink
Quote: thecesspit

Nope, the recipient is being too literal.. Yanks are not known for their dry sarcastic wit. It warps my poor little British mind when it`s used on me from the colonies :)



Thanks, I have had a few things like that fly by people on this board lately. Surpising as this is a fairly sharp group. Maybe I was born on the wrong side of the pond? We are a people divided by only a common language.
All animals are equal, but some are more equal than others
SFB
SFB
Joined: Dec 20, 2010
  • Threads: 2
  • Posts: 203
March 10th, 2011 at 11:47:22 AM permalink
Quote: clarkacal

I hear this a lot, people who make more money get more tax breaks. Please give me some examples in which having an income above a certain level qualifies you for a specific tax break or credit.




IF you are making $600k, a year, and getting a W-2, you are dead meat. You just write the check for taxes. Now, if you OWN a business, you have other things that may be deductible for you, that you wouldn't get otherwise. The compnay may pick up your cell phone, your car, your vacations (for training ;0) etc. You can take the income out of the company as dividends, or payroll, or Capital gains, or some combination of the above.

However, at $60k, many types of deductions, credits and adjustments are available to you. They all start to phase-out as your inccome starts to rise, however.

SFB
buzzpaff
buzzpaff
Joined: Mar 8, 2011
  • Threads: 112
  • Posts: 5328
March 10th, 2011 at 11:57:01 AM permalink
Of course it is NOT fair. Congress sets the rules and for them the take code is how they reward their friends and punish their enemies !!

  • Jump to: