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The Water Cooler
General Discussion
Biden wants to increase taxes on all you rich working peeps.
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<blockquote data-quote="SlugSlinger" data-source="post: 3567967" data-attributes="member: 7248"><p>The numbers I used are taking the tax rate into account, the 20% rate vs the 40% rate and the calculated after tax returns based on earning your 25% pre-tax return and paying the tax each year. That 35 year number is reality with exponential after tax growth of 20% a year (pre tax return of 25% and a tax rate of 20%). The 15% trend is using the 40% tax rate each year.</p><p></p><p>Here's another format to look at the same numbers.</p><p></p><p><u>The very odd thing is the .gov is actually collecting less taxes with the higher rate. The exact same logic works for income taxes. Income tax rates increase and the total taxes collected drop.</u></p><p>20% tax rate collects $737,085 in taxes over 35 years.</p><p>40% tax rate collects $440,585 in taxes over 35 years.</p><p>How dumb is that? That's the .gov for you.</p><p></p><p>[ATTACH=full]203412[/ATTACH]</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3567967, member: 7248"] The numbers I used are taking the tax rate into account, the 20% rate vs the 40% rate and the calculated after tax returns based on earning your 25% pre-tax return and paying the tax each year. That 35 year number is reality with exponential after tax growth of 20% a year (pre tax return of 25% and a tax rate of 20%). The 15% trend is using the 40% tax rate each year. Here's another format to look at the same numbers. [U]The very odd thing is the .gov is actually collecting less taxes with the higher rate. The exact same logic works for income taxes. Income tax rates increase and the total taxes collected drop.[/U] 20% tax rate collects $737,085 in taxes over 35 years. 40% tax rate collects $440,585 in taxes over 35 years. How dumb is that? That's the .gov for you. [ATTACH=full]203412[/ATTACH] [/QUOTE]
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Biden wants to increase taxes on all you rich working peeps.
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