http://www.economics21.org/commentary/taxation-and-taxable-income
Don't know much about the author or the publication in general, but very good info....
Especially loved the part about the higher incomes and why they are higher income:
As a Tax Foundation analysis of Census data shows, households in the top two income-tax brackets are nearly three times more likely to have two earners and tend to work 27 hours more per week, on average, than households in the other tax brackets. Relative to other tax brackets, rich households are much more likely to have two sources of income.
Pretty obvious, eh? "Rich" households have 2 income earners and work many more hours than ones that don't make as much money.
I'll bet the group that wants more socialism, and more entitlements are the ones working 38 hours per week, leaving early to go to their kids soccer games, etc. Nothing wrong with doing that, of course, as those are lifestyle choices. But it is wrong to steal the money of the folks that ARE working the extra hours each week, and have 2 spouses working. That is a choice they made and should be commended for it.
You reap what you sow. If you are not working 50-60 hours per week, then you really don't have a complaint.
Work harder, work longer is the key. Have both spouses work. There is no free lunch folks - except in a Democratic world.
Anyway, great article talking about the effects of taxation. Most interesting point - our current tax schedule is much more progressive today than it was in 1979!
Don't know much about the author or the publication in general, but very good info....
Especially loved the part about the higher incomes and why they are higher income:
As a Tax Foundation analysis of Census data shows, households in the top two income-tax brackets are nearly three times more likely to have two earners and tend to work 27 hours more per week, on average, than households in the other tax brackets. Relative to other tax brackets, rich households are much more likely to have two sources of income.
Pretty obvious, eh? "Rich" households have 2 income earners and work many more hours than ones that don't make as much money.
I'll bet the group that wants more socialism, and more entitlements are the ones working 38 hours per week, leaving early to go to their kids soccer games, etc. Nothing wrong with doing that, of course, as those are lifestyle choices. But it is wrong to steal the money of the folks that ARE working the extra hours each week, and have 2 spouses working. That is a choice they made and should be commended for it.
You reap what you sow. If you are not working 50-60 hours per week, then you really don't have a complaint.
Work harder, work longer is the key. Have both spouses work. There is no free lunch folks - except in a Democratic world.
Anyway, great article talking about the effects of taxation. Most interesting point - our current tax schedule is much more progressive today than it was in 1979!
