| BMW Rider |
04-26-2008 04:23 PM |
It's your choice to work 18 hrous a day 7 days a week. You make $70 for each hour of overtime that you choose to work. No one forces you to do this, you do it because you like the extra money I assume. So even though the govenment takes more actual dollars off of your check, you still get to take home more money. Even when you consider all of the taxes you pay on that money, you still keep more than $35 per hour. That's a lot more than $8. Don't focus on what you didn't get to keep, focus on what you did. Glass half full or empty thinking.
Take the extra money you are keeping and use every tax advantage you can to keep more of it. But stop whining about having to pay so much when other's are stuggling to just earn enough to survive. Yes you give more actual dollars to the government that many others do, but your given the same initial tax rates and basic exemption as the guy earning $8 an hour. Its the money above and beyond that that gets taxed higher. Essentially, you are allowed to earn a basic income that is considered the minimum amount to live on. What you earn beyond that allows you to improve your lifestyle and have more and nicer things. That's considered a luxury and thus you are taxed more on those dollars. If you don't like that plan, then go get an $8 an hour job for 39 hours a week with no benefits and see how much you like that. I'd bet you'd be singing a different tune about how fair it would be to pay 30% of it in taxes then.
Corporations are taxed differently for many reasons. The main one is that allowing corporations to pay less taxes on profits encourages economic growth and thus provides you with the opportunity to work 18 hours a day 7 days a week for $70 an hour. If the corporations were taxed more heavily, they would simply move their operations to a tax environment that was more favourable and you would be glad to have that $8 per hour job. So essentially, it is better for all to give up some tax dollars from a corporation and then get those dollars back from individuals. Tax the corporation too much and there will be fewer corporations to tax and more individuals paying much less in taxes. Then the government is left with a shortfall and must cut services or run up a deficit to provide them. Plus, there will likely be more individuals drawing on govenment assistance adding to the mess. Our economic system is a fine balance of many factors and taxes are a big part of it. Bottom line; giving corporations favourable taxation does benefit you. Plus, you can always invest some of your overtime windfall into those corporations and earn some of those profits for yourself. Most of those profits are paid out to shareholders in publicly traded companies.
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