Deductoins for dependents promotes family growth.
Deductions for mortgages promotes home ownership.
Deductions for business expenses promotes starting a proprietorship, partnership or corporation.
Medical expense deductions for catistrophic illinesses.
etc....

the graduated income tax is the best way to punish people for having the audacity to make more money

A government which robs Peter to pay Paul can always depend on the support of Paul.
-- George Bernard Shaw

why should i strive to make more money when the govt will just confiscate an even larger chunk of my income

why should i invest in the stock market when the govt will just confiscate 40% of my profits via the capital gains tax, hence fucking me twice

why the hell did i get married knowing that the govt was gonna make me pay even more taxes, hence fucking me once more

why do we let this shit happen

Learn to play the game. I bet thats less than what you paid!

I suggest that you start researching the current tax code, hell it's on line now and start investing / using your money in ways that give you the best tax payment outcome. As long as you are working for a company with a paycheck you are going to bear the brunt of the tax burden. Start looking into ways to supplement your income with a small business. Something that won't eat up all your free time of course. Then a whole level of deductions you might not have right now will be available to you.

Right of your car. part of your home, shit like that!

Abe Lincoln tried to establish an income tax during the Civil War, but the Supreme Court found it unconstitutional. Interesting, huh?

When income tax was first instituted, a very small percentage of people had to pay it. At that time, wealth was more concentrated in the hands of a few, so it was advertised as a "get the rich" scheme. It was embraced by the masses because they were not paying it.

The governement became fiscally irresponsbile - easy to do when you're spending other people's money - and the taxes grew. The governement would raise taxes and then say, "We'll lower them once we get things straightened out". As time has shown us, this is bullshit.

The top tax bracket is 39.6%.

Deductions are a funny thing. If your income is five figures, you can really use deductions to your advantage. Owning real estate (a mortgage) is a big one, and college tuition, etc, those all exist.

If your income is low six figures, you can still utilize them to your advantage somewhat. But from 100K to 200K they start vanishing.

If your making mid six figures (500K or more) you can pretty much say goodbye to most of your deductions, and embrace paying close to 50% between stsate and federal taxes. Suddenly, your real estate deductions go away. If you own a few houses and rent them out, you can deduct some related expenses, such as deprecaition, but prepare to get killed when you sell the property.

The only was to do anything about taxes at this pay rate is to have many employees (own your own business) - this can help.

I'm going to try to get this going within 4 years, before things get out of hand.

There is no justification for the graduated income tax. It was actually advocated by Karl Marx in the Communist Manifesto.

I believe in a flat tax - 15% - and if you make under a certain amount, (like 30K for a family of 4) you pay nothing.

This is the bane of my existence. I am currently looking into the tax codes of Puerto Rico (US territory) to get some shelter from this silliness.

I'm also looking into the development of post Castro Cuba - billions to be made there, possibly tax free.

Matt

Email me.

Matt

Another look....

anyone with anything else to add......