Posts Tagged tax

Think income tax rates are ok? Read this.

Let’s talk for a moment about an imaginary worker who makes, oh, let’s say… $50,000.

Let’s further stipulate that said worker lands, for various reasons, in the 25% tax bracket.

So, you’d presume that of the $50,000 our worker earns, $12,500 is paid to the federal government as income tax. Right? Because that’s 25% of $50,000, so… we end up with $37,500 that actually goes towards social security, state taxes, food, gas, savings, etc. The other stuff. Right?

No. Wrong. Here’s why.

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Is the senate… stupid?

The U.S. Senate has again failed to pass a bill that would extend solar tax credits to build new power plants. In direct reactions, I’ve seen it asked on the net: “Are they stupid?”

No. They’re not stupid. They’re bribed. 100% in the pocket of the oil companies. And why wouldn’t they be? Junkets to warm, sunny places, nights with escorts, free suites. Guarantees of lucrative speaking engagements after their terms are over, campaign contributions, perks-a-plenty… and all they have to do to get it is act like they usually do.

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