Latest responses to “Federal Tax Brackets 2010” Copyright 2013, MoneyBlueBook.com 1082394 2011-10-19T09:05:36-07:00 Nick G. D. * I pay low thou$. in income taxes/3 yrs.; Buffett pays over $6+M/yr.; but they consider that 17% range!!! Then it as if his income were $68k/yr.; not $69+M/yr. $6M is alot of money ; but so is $69+M, compared to $68+k/yr. GA. is not even paying the $30k to $41+k/yr. avg. anymore ; many Americans are working for the $7+/hr. range, which is just above poverty level here in the US. What is that % of US workers who earn that min. wage range? 470000 2011-02-15T13:20:46-08:00 Michael Oh, and by the way... our wonderful government gives billion dollar tax cuts to companies like Exxon and GE... and that includes Obama and the rest of them. If we treated the big guys like everyone else, and cut out all the ridiculous entitlement and special interest programs, we could implement a 'fair' tax system, cut the national debt, and give everyone a chance to flourish. After all, this is America. Let's hold on to that dream! 470010 2011-02-15T11:36:10-08:00 Michael I agree with Miss Swan... a 'Fair Tax' is needed. And by fair, you mean the same for everyone right? Just like God does with tithing His people. Whatever the number... 15%, 20%... should be the same for everyone. That is what 'fair' means. 397980 2011-01-16T10:49:45-08:00 cfj i agree buy made in USA i wish all products made in china or outside the USA should be required to be in a bright red box with a foriegn logo on it so everybody would know your buying and/or selling foriegn mfg crap. and there should be some focus on the cash (that some workers in the USA are earning) is being wired out of our country at an alarming rate. western union or money gram. every payday there are huge lines of people sending American $$$ to there family in the foriegn country they have family in 398480 2011-01-16T10:39:24-08:00 cfj OK TAXES do suck, so do alot of things in this split country. i believe the [25% tax bracket should be lowered to 15%] [The 28% down to 20% ] [The 15% to 10%] [and the 33% and 35% down to 25% is way to much and the with the super rich population growing fast there should be whatever tax % it would take to compensate the other tax bracket % drop. We could call it the "WHAT-EVER" TAX.. which would be added to the 25% tax they would already be paying as to my supposed changes above. the What-ever tax would be specially for super high income levels and we could break that down like the regular peoples bracket is say 1 million to 2 million the smaller % 2 million to 4 million 4m to 10 m 10 million plus would pay the largest % so the super high income people would take up the slack for this outrageous governmental spending freaks. i guess this is the best way i know you people who are making those millions earned it or worked ur ass off for it but tough luck were all in this country together u might as well pay up. it will come back to u. 398810 2011-01-10T20:34:42-08:00 GrannyBG 2009 saw Highest ever profits for our major corporations (most of which are actually global in scope these days) and which are now running most of our government and own one half of our legislators...not to mention more than 90% of our media where most of us still get our information/propaganda prior to voting. (Corporatocracy has bought out most of Democracy). CASE in POINT: Exxon was the highest earner in 2009 of all the high earners. And voila! Exxon paying ZERO ($0) dollars in tax. Boy don't you wish we could do that. And in addition the US Government gave poor little EXXon extra money just to keep them doing what they are doing. (which sure isn't creating jobs in America) In summation: AMerica has been raped by the corporations. If you voted for corporate shills at the behest of their 4 Billion propaganda in 2010 you are helping to kill our country. If you think gutting the government (lower taxes for the wealthiest) is beneficial for AMerica you have bought into that propaganda. What that does is enfeeble our government and increases power of the corporations. We need to go back to: regulation of industries, Sherman anti trust act, policies to penalize those who offshore...and someway to make these giant global corporations ...pay income tax to their home nation. Our jobs went away thanks to these global corporations who profitted greatly...but did not reinvest in America. Build American, buy American, help strenghten our foundations. Our foundations are the people and the infrastructure ...not corporations. Trickle down has been demonstrated to be the biggest hoax ever. 394880 2010-12-31T01:25:11-08:00 TimT @Josh7891 You have zero understanding of economics. Like many, you think the amount of wealth is fixed. You say, "there is only so much money in America." There is neither a fixed amount of wealth or a fixed amount of money in America. Let me educate you. First, as for wealth, if you work for a company, you trade your time to somehow create something of value for the company. The company is paying you for your time, but will take the product of your labor and the labor of your fellow employees and sell it for more than the sum of what it paid for it. That's the "profit" the company makes. So if you take the total output of everyone working, that's how much the wealth of the country is increasing. It's not always 1-to-1, but you hopefully get the idea. Also, things created don't last forever. Cars and houses, for example, have a finite lifetime. When those wear out, that subtracts from the wealth. But overall, wealth increases. Now, as for money itself, that obviously increases (how many trillions has the Fed injected out of nowhere over the last couple of years?). The fact that wealth increase is one reason they supposedly went off the gold standard and to fiat currency. Fiat currency can be slowly inflated to keep pace (and represent) the increase in wealth. The amount of gold is relatively fixed, so to represent an ever growing wealth, the gold backed currency would actually have to deflate, which can be very damaging to an economy. (While I understand this theory, it doesn't make me really like fiat currencies... especially when a nation has the ability to monetize its debt... but that's a whole other discussion.) Now, for your most ludicrous assertion that the "[rich] need to be careful about hoarding all of the wealth." What do you think the rich do with their money? Stuff it under their mattress? Build a giant vault under their mansions so they can sneak down at night and count it all while laughing maniacally? No, I'd bet 99% of the wealth of rich is invested in various companies which employ the rest of us. And God bless 'em for it, because I like having a job while *I* try to get rich so *I* can invest just like them! I will agree with one thing you said, though. Our tax code is horribly broken. Ever since the progressives managed to foist the 16th amendment on us and give us one of Marx's dreams, a progressive income tax, wealth production and achievement have been punished by our tax code. I say get rid of all of it and the power it gives the corrupt politicians and replace it with the Fair Tax. 397340 2010-12-28T11:42:49-08:00 Connie S. I do not know how to survive anymore. I am a single mother, an RN, that makes an income under the 25% tax bracket. Each payday I am crunching my wallet to make it. I don't even buy clothes for my self nor buy clothes for my son. We pay our $1500.00 monthly rent, cable, internet and phone bill. That's all I pay each month. I'm barely making it through. When I saw the tax bracket of 25%, I am so disappointed. We are like machines being run down. I am so against the law that provides Social Security Pension to those immigrants who did not contribute to taxes. They come to US at the age of 60, they become US citizen, then at the age of 65, they start rakin' in about $740.00 month. You wonder why the Government is broke! Then we take care of those who cross the boarders. They knew they have heart problems, they knew they needed a heart catetherization, or a bypass surgery, and we admit them, provide everything they need, then send then back across the boarder! What is wrong with this country.......too nice!!!!!! Stop it, you are hurting the tax payers!!!!!! 397040 2010-12-27T11:31:24-08:00 Greek Steve I am proud to be an American and of Greek immigrant decent and also take pride in the fact that starting with my parents, myself, siblings, and now my children, 3 generations, are as law abiding citizens who pay their taxes. I have been on both spectrum's of poor and wealthy but through my own hard work and education made my way to financial success from near poverty. In my 20's feeding a wife and 2 children working 3 jobs and making 35k a year was tough but I paid my taxes like all of you, albeit at a lower tax rate. My new wife and I now make over 400k a year and enjoy a much better living in our late 40's. I do feel that it is unfair for us to pay taxes at a much higher tax bracket and it does make me bitter as it feels that I am being punished for all the time and hard work that I applied to get here. However at the end of the day I realize how lucky I have been to have had the opportunity to go from 50k to 400k in 20+ years. I have had many freedoms and opportunities as an American that many people in war torn and destitute countries including my own family members in Albania have never enjoyed. I try to always remember that in spite of all it's unfairness, sham and drudgery, America is STILL the best country in the world and I will always be proud to be an American. God Bless America I say! 394830 2010-12-25T23:45:31-08:00 Josh7891 Also, everyone needs to remember that there is only so much money in America. Not everyone can make $250k a year. We can't all have jobs in finance or become doctors. This country needs all types of workers to survive. Just remember that when your garbage man comes and picks up the trash. Without him it would be a very stinky place. CEO's take to large of a part of the total thats why the poor are struggling.