Chubby Nickel Audio Vlog

After hearing people gab on about the poor rich people and saying that we shouldn’t spread the wealth around and the rich shouldn’t be paying more in taxes than the rest of us… I get a little sick and my head starts to spin. Since when was it the American way for some one who is better off to pay less in taxes than the rest of us.

I know if you compare just the dollar amounts that rich people pay more in taxes than I do. Honestly I don’t care because I make more money than some people and pay more of a dollar amount in taxes. That is fine. But what I have a problem with is that a lot of my income goes away while rich people get to keep more of their percentage. Hate on me all you want and call me a socialist, but I didn’t come up with the taxes, I just think every one should pay their fair share.

I will get hit with having to pay 42.46% of my yearly income in just federal taxes (tack on state taxes and I get less than half the money I worked so hard for). Now take a hard working millionaire (lets just say its a girl and she makes $5 million a year), she is only going to pay 36.89% of her yearly income in federal taxes. Now I know that since I am not making $5 million a year I am obviously just not working hard enough, two jobs and the occasional contract work making me spend about 95 of the available 168 hours a week is just not working hard enough. So this millionaire wanker who spends about the same amount of time relaxing and partying as I spend working, gets to keep her money while I am picking up her tab in income tax. Obviously golfing, shopping, going to parties, socializing or just sleeping is hard work, hell, I can’t even do that right now.

Awesome! Rich people need their money more than regular, simple folk like us. So they can invest the money to create jobs so that people making less than them spend most their money so that they can keep working to spend most of their money… Seriously, this is really stupid. Now lets look at how the awesome federal income tax system works.

This is based off of the tax tables for married filing jointly that you can get from the IRS. The bottom is the taxable income, the line is the percentage of the taxable income that gets paid to taxes. So because of the static part of the taxes there is a nice effect. If a family has a taxable income of $63,699 they will pay 17.46% of that to taxes, but if they made one dollar more they would be paying 38.77% of that to taxes. Make a dollar, lose $13,577.65. That is pretty sweet. But that aside, You can see how people in certain places of income are paying a larger percentage of their income than people who make a lot of money.

Now if we remove the static tax portions and raise the tax percentage a little bit we can have this. I know that is way too simple to work. It would result in more tax money without hurting any one more than others (except those really poor  disgusting people will be getting off easy), people won’t be afraid of making an extra dollar, and the government will get more money. A fair system that results in more money for every one (well except that wealthy people will be paying the same percentage of income as the rest of us). Absurd I tell you! This can’t happen because those rich people worked harder for their money than the rest of us, so they should get to keep more!