[Vision2020] taxation

[Scott Dredge]

Dale,

I based my 31.8% cumulative tax calculation for $100k
of income entirely on the tax tables.  For Federal tax
as I move through the tiers, I would pay $0 on the
first $6000 of income earned, roughly %15 on the
dollars I earn for my first $6001 through $27950, etc.
 The top dollars I'm earning would be taxed at a rate
of 30%, but the 30% doesn't apply to the entire $100K,
only to the dollars I make between $67001 and $100k.

Again this is a calculation based on 2002 Single
filing tax tables for both the Fed and the State of
Idaho and it's based on a hypothetical $100k of
income.  The funny thing about the Republicans is that
they push for lower capital gains taxes, elimination
of tax on dividends, and the elimination of estate
taxes.  So...by sitting around on my ass and simply
collecting money that falls my way without lifting a
finger, the Republicans want to lower and eventually
eliminate taxes on this type of income.  Yet work my
ass off and my hard earned money will be taxed at a
rate of 40%, to use your number even though I
vigorously disagree with it.

Also, if you want to avoid fed and state income taxes
altogether you can buy tax-free municipal bonds.  The
downside to some in this case is that you would be
supporting a government infrastructure which you may,
for whatever reason, find distasteful.

-Scott

--- Dale Courtney <dmcourtn@moscow.com> wrote:
> 
> Two points: first, what tax bracket are you in? 
> 
> Second, did you *only* consider your State and
> Federal taxes? We pay a *lot*
> more than that in taxes...
>