tuboshu Loc: Kennebunk, Maine

How many taxes are we allowed to kill?

Grizzly 17 Loc: South central Pa

I think they're considered an endangered species. Only get killed by accident 🙄

plumbob Loc: New Windsor Maryland

Vote just in tubo, All.

DC Loc: Washington state

I hear they are working on that new post card size simplified form

1. how much did you make from all sources______
2. subtract about of tax with held_________
3. send in the difference______

plumbob Loc: New Windsor Maryland

Why am I laughing DC? Truth in Jest there?

DC Loc: Washington state

but guess we can't complain they spend it all carefully, and wisely right?

Steelhead Mickey Loc: NJ

On the topic of TAXES - I posted this over 3 years ago, right before the world went into covidiot hell.

Mickey apologizes for the redundancy to those who read & commented on it then but thought it might enlighten & entertain some who didn't. Although it may seem like a lengthy explanation, read it slowly & thoughtfully, you don't have to be a mathamagician to see the point.
Enjoy!
Mickey


"Bar Stool Economics ~ our tax system explained"
(original post in Chit-Chat on 1/10/2020)


Suppose that every day ten men go out for beer & the bill for all ten comes to $100.

If they paid their bill the way we pay our taxes, it would go something like this:

The first four men (the poorest) would pay nothing, $0.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

That is what they decided to do.

The 10 men drank in the bar every day & seemed happy with the arrangement, until one day the bar owner threw them a curve. "Since you are all such good customers," he said, "I'm going to reduce the cost of your daily beer tab by $20."

Beer for the 10 now cost just $80.

The group still wanted to pay their bill the same way, so the first four men remained unaffected, they would still drink free.

But, what about the other six men - the paying customers?
How could they divide the $20 windfall so that everyone would get his 'fair share?'

They realized that $20 divided by six is $3.33.
However, by subtracting $3.33 from everyone's tab, then the fifth man & the sixth man would each end up being paid to drink his beer.

So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, & he proceeded to figure the amounts each should pay.

The results:

The fifth man, like the first four, now paid $0, (100% savings).
The sixth paid $2 instead of $3 (33% savings).

The seventh paid $5 instead of $7 (28%savings).

The eighth paid $9 instead of $12 (25% savings).

The ninth paid $14 instead of $18 (22% savings).

The tenth now paid $50 instead of $59, still the largest share yet smallest, (16%) savings.


Each of the six was better off than before & the first four continued to drink FREE. Once outside the bar, the men began to compare their savings.

"I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man," but he got $9!"

"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got nine times more than me!"

"That's true!!" shouted the seventh man. "Why should he get $9 back when I got only $2, the
Wealthy bastards get all the breaks!"

"Wait a minute," yelled the first four men in unison. "We didn't get anything at all! The system exploits the poor!"

The 9 men surrounded the tenth & beat him up.

The next night the 10th man never showed up for drinks, so the nine sat down & had beers without him. However, when it came time to pay the bill, they discovered something very important. They did not have enough money between all of them for even half of the bill!

That, ladies & gentlemen, journalists & college professors, is how our tax system works.

The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, & they just may not show up anymore.

In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

For those who understand, no explanation is needed.

For those who do not understand, no explanation is possible.

J in Cleveland Loc: Cleveland, Ohio

Completely understand but let’s be honest they started “drinking” overseas decades ago!

Fredfish Loc: Prospect CT.

That's the absolute truth Mickey. Don't let emotions cloud your judgement, look at the facts.

JDFishes Loc: Atlantic County

I’m a fan of a flat tax. Everyone pays 15%. Of course I’m not enlightened enough to be sure that’s the exact number, but from what I’ve heard that would let the government collect 1/3 more. No need for IRS or accountants. Everyone pays 15% no matter income and no loopholes. Would certainly be more fair for many of us. I pay around 30% federal, 7% state. Another 5% goes for property tax and then a 7% sales tax. Doesn’t take long to see I never get to spend 49% of my income. That’s doesn’t include government surcharges on utilities, gas tax and tolls as well as accountant fees I have to pay to figure the whole mess out.🤷‍♂️

DC Loc: Washington state

I agree only I agree with the guy who said if 10% is enough for God should be enough for uncle Sam. but everyone should have skin in the game. also couple that with a balanced budget amendment have to stop spending money we don't have.

Frank romero Loc: Clovis, NM

Man you sure are funny.

Frank romero Loc: Clovis, NM

Don’t forget fee to have your return prepared. I volunteered for many years to help filers. I was able to help them as a volunteer for AARP.

nutz4fish Loc: Colchester, CT

R I G H T .....

nutz4fish Loc: Colchester, CT

None, they're a protected species .