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jerry
4th January 2015, 21:32
A reminder for those who forgot or for many that didn't know

Here is what will happen on January 1, 2015 :


Top Medicare tax goes from 1.45% to 2.35%

Top Income tax bracket goes from 35% to 39.6%

Top Income payroll tax goes from 37.4% to 52.2%

Capital Gains tax goes from 15% to 28%

Dividends tax goes from 15% to 39.6%

Estate tax goes to 55%

Remember this fact:

These taxes were all passed only with democrat votes, no republicans voted for these taxes. from what I understand......... im for neither rep or dems

These taxes were all passed under the Affordable Care Act, aka Obamacare.

If you think that it is important that everyone in the U.S. should know this, pass it on. If not, then delete it.

chancy
4th January 2015, 21:50
Thanks Jerry:

You made my day! Just kidding.....

I think most sheeple want to pay more taxes. Everyone that talks about taxes to me tells me they want to pay more?!?! I do not understand this logic at all but I guess the sheeple have to much money and want to give it away. That's the only conclusion I can come up with.
chancy

Keep up the great posts Jerry!

rgray222
4th January 2015, 22:19
Thanks Jerry:
I think most sheeple want to pay more taxes. Everyone that talks about taxes to me tells me they want to pay more?!?! I do not understand this logic at all but I guess the sheeple have to much money and want to give it away. That's the only conclusion I can come up with.
chancy


Anyone who wants to pay more taxes or simply thinks it is a good thing to pay more taxes makes the assumption that 'all' the money the government collects is being used wisely and efficiently. They must also think that there is no fraud or wasteful spending.

Flash
4th January 2015, 22:26
anyone who wants to pay yet more taxes than what Jerry brought up, please, come to live in the province of Quebec, Canada, the most taxed in the world, most probably.

yelik
4th January 2015, 23:04
Try the UK, life time taxes on earnings are a whopping 90%

Hanson
5th January 2015, 06:58
Try the UK, life time taxes on earnings are a whopping 90%
Can you please explain that? I looked at UK tax rates here (https://www.gov.uk/income-tax-rates/current-rates-and-allowances), and it looks like the top rate is 45%.

Not that any government deserves 45% of your earnings, but 90% is certainly grounds for revolution.

yelik
5th January 2015, 10:00
Try the UK, life time taxes on earnings are a whopping 90%
Can you please explain that? I looked at UK tax rates here (https://www.gov.uk/income-tax-rates/current-rates-and-allowances), and it looks like the top rate is 45%.

Not that any government deserves 45% of your earnings, but 90% is certainly grounds for revolution.

I am talking about life time taxes we pay not just income tax. To me if have have no choice but to pay then it's a tax in my opinion.

I've shown a list below of most of the direct and indirect taxes in the UK, if you look at just a few we pay 30% to 59% on income ( includes tax and National Insurance contributions) value added tax on all purchases is 20%, we pay a whopping 80% on gasoline prices, Local authority taxes, known as council tax which ranges from say 100 to several thousands per month depending on your property value. We have the highest flight taxes in the world so each time we fly it near on doubles the cost of the flight.

My daughter recently qualified as a Chartered Accountant and during her training this was the figure given / calculated by them which surprised even me.

Rip off Britain is a term used to describe prices in the UK. Car manufacturers call the UK treasure Island because they earn above average profits from UK sales.

The average person in the UK is totally dumb and brainwashed and probably highly mind controlled.

I'm just about to move house and am required to pay a ludicrous tax called stamp duty every time you buy a house, in my case over 5k straight to the state for absolutely nothing. Fortunately this figure was reduced in December otherwise I would have paid around 8k+


List of 'direct taxes'
Income Tax (including Self Assessment and tax collected by employers under PAYE) - 20% upto 40%
Corporation Tax - tax on company profits 20%
Capital Gains Tax - 18% - 28% (exclution first 11k)
National Insurance contributions 12%
deductions under the Construction Industry Scheme (CIS)
statutory payments, for example, Statutory Sick Pay, Statutory Maternity Pay, etc
Inheritance Tax - first 325k tax free then 40% if no provision
Petroleum Revenue Tax - tax + duty 80%
student loan repayments
Stamp Duty Land Tax - sliding scale
Stamp Duty Reserve Tax

List of 'indirect taxes'
VAT (20%)
Insurance Premium Tax
Landfill Tax
Aggregates Levy
Climate Change Levy
Air Passenger Duty
Hydrocarbon Oils Duty
General Betting Duty
Gaming Duty
Pool Betting Duty
Remote Gaming Duty
Bingo Duty
Lottery Duty
Alcoholic Liquor Duties
Tobacco Products Duty
Customs Duty
money laundering decisions
decisions by HMRC under the Counter-Terrorism Act 2009
Amusement Machine License Duty
Machine Games Duty


If you are keen here's a 'Survey of the UK Tax System 2014'

http://www.ifs.org.uk/bns/bn09.pdf

jerry
5th January 2015, 15:32
Try the UK, life time taxes on earnings are a whopping 90%
Can you please explain that? I looked at UK tax rates here (https://www.gov.uk/income-tax-rates/current-rates-and-allowances), and it looks like the top rate is 45%.

Not that any government deserves 45% of your earnings, but 90% is certainly grounds for revolution. I have heard somewhere in the UK, I want to say, the rich are being taxed 100 % ...maybe I can dig that article up , it was reported to me as such w/o trying to confirm it, has anyone else heard this

Ernie Nemeth
5th January 2015, 16:03
Do you really think you get to keep 50% of your life-time earnings? There must be a lot of millionaires out there then...

No. By the time inflation, hidden taxes, the erosion of the dollar's buying power, rising prices, corporate greed and government incompetence finish with us we are lucky to end up with 10%!

yelik
5th January 2015, 16:10
Try the UK, life time taxes on earnings are a whopping 90%
Can you please explain that? I looked at UK tax rates here (https://www.gov.uk/income-tax-rates/current-rates-and-allowances), and it looks like the top rate is 45%.

Not that any government deserves 45% of your earnings, but 90% is certainly grounds for revolution. I have heard somewhere in the UK, I want to say, the rich are being taxed 100 % ...maybe I can dig that article up , it was reported to me as such w/o trying to confirm it, has anyone else heard this

The richer you are the less tax your pay. My daughter works for a large firm where they set up all sorts of tax avoidance schemes. they have some very wealthy (billionaires) who pay virtually no tax at all on many of their businesses. government tax inspectors are no match for the private sector. In any event they don't want to upset the rich in any way, they might need a cushy job when they retire from Government

Hanson
10th January 2015, 01:14
Try the UK, life time taxes on earnings are a whopping 90%Can you please explain that? I looked at UK tax rates here (https://www.gov.uk/income-tax-rates/current-rates-and-allowances), and it looks like the top rate is 45%.I am talking about life time taxes we pay not just income tax.
So if I understand correctly, for some people in the UK, the claim is that 90% of what they earn in a lifetime goes to the government in the form of taxes. To make sense of this, we need to know what they get from the government in return, and if all parties are happy with the arrangement.

Still, if a slave has 90% of the fruits of his labor forcibly taken by the master, and the master provides amenities in return (but amenities much poorer than what the master enjoys), we still agree it's slavery, right? And that slavery is wrong? Because it violates the Golden Rule?

The French and Americans each had their revolutions, but I don't recall the British ever having one. Are they overdue? I wouldn't be surprised if the French and Americans are ready for another revolution each as well.

Maybe we could make this a block party and share the joy!

Mutchie
11th January 2015, 20:50
I am in Scotland which as you all know is part of the UK i thought the tax was 20 per cent on earnings till you earn more than 35 or 40 thousand then i thought it jumps to a much higher rate of 40 per cent is that not the case under PAYE ????