6 ms·

I'm sure that the labourers had to pay for other taxes too, but man, I'd kill for only 7½% income tax. Right now my total tax burden is about 50%.

afterburner 9y ago
You're probably thinking of just your top marginal rate on income tax?
- eadmund 9y ago
  No, I mean that my income, capital-gains, sales & property taxes, along with fees like those for my car registration, equal roughly half my total income.
  - afterburner 9y ago
    Seems highly unlikely unless you're not including the gains from your capital gains in your ratio. Do you know how the marginal rates work?
    - eadmund 9y ago
      > Seems highly unlikely unless you're not including the gains from your capital gains in your ratio. Nope, I am. It's remarkable how high one's tax burden is, once one starts to actually track it. All those sales taxes and fees add up. > Do you know how the marginal rates work? Yup. I'm calculating (total government costs)/(total income), for all of my income and all costs-of-government.
      - afterburner 9y ago
        You're hitting the top marginal rates and seeing sales tax be a large burden? Weird. Are you spending more than you're currently earning?
        eadmund 9y ago
        I wouldn't say that sales tax is a large burden, but 8½% adds up over time. No, I spend less than I earn, and save quite a bit. Some of that savings is tax-advantaged, but overall I pay a huge amount of my income in taxes & fees. I don't mind that taxes exist, really; I don't mind paying for a social safety net. But I think something's wrong when half of my productive labour & investment income is taken from me every year.
        afterburner 9y ago
        So you have an extremely high income and no investments? The top marginal rate is 40%, and that only applies to what you make over $420,000.
sangnoir 9y ago
The 7.5% is not income tax - it's just salt-duty! If we were to add a 7.5% duty for salt alone to your current 50% tax burden, I'm sure you'd be marching too.
- notahacker 9y ago
  Suspect the average early twentieth century Indian farmer would kill for the OP's state subsidised education, healthcare, unemployment benefits and pension too, never mind his disposable income after tax...
mikeash 9y ago
The impact of taxes depends on how much you have to begin with. Would you kill to have both that laborer's tax rate and that laborer's wages?
oblio 9y ago
Maybe, but your 50% left cover your expenses for food, clothing, shelter, medicine, etc. I doubt that the 93% the average Indian laborer or farmer had covered his basic necessities. And as another posted said, this was just the salt tax.

afterburner 9y ago

You're probably thinking of just your top marginal rate on income tax?

eadmund 9y ago
No, I mean that my income, capital-gains, sales & property taxes, along with fees like those for my car registration, equal roughly half my total income.
- afterburner 9y ago
  Seems highly unlikely unless you're not including the gains from your capital gains in your ratio. Do you know how the marginal rates work?
  - eadmund 9y ago
    > Seems highly unlikely unless you're not including the gains from your capital gains in your ratio. Nope, I am. It's remarkable how high one's tax burden is, once one starts to actually track it. All those sales taxes and fees add up. > Do you know how the marginal rates work? Yup. I'm calculating (total government costs)/(total income), for all of my income and all costs-of-government.
    - afterburner 9y ago
      You're hitting the top marginal rates and seeing sales tax be a large burden? Weird. Are you spending more than you're currently earning?
      - eadmund 9y ago
        I wouldn't say that sales tax is a large burden, but 8½% adds up over time. No, I spend less than I earn, and save quite a bit. Some of that savings is tax-advantaged, but overall I pay a huge amount of my income in taxes & fees. I don't mind that taxes exist, really; I don't mind paying for a social safety net. But I think something's wrong when half of my productive labour & investment income is taken from me every year.
        afterburner 9y ago
        So you have an extremely high income and no investments? The top marginal rate is 40%, and that only applies to what you make over $420,000.

sangnoir 9y ago

The 7.5% is not income tax - it's just salt-duty! If we were to add a 7.5% duty for salt alone to your current 50% tax burden, I'm sure you'd be marching too.

notahacker 9y ago
Suspect the average early twentieth century Indian farmer would kill for the OP's state subsidised education, healthcare, unemployment benefits and pension too, never mind his disposable income after tax...

mikeash 9y ago

The impact of taxes depends on how much you have to begin with. Would you kill to have both that laborer's tax rate and that laborer's wages?

oblio 9y ago

Maybe, but your 50% left cover your expenses for food, clothing, shelter, medicine, etc. I doubt that the 93% the average Indian laborer or farmer had covered his basic necessities. And as another posted said, this was just the salt tax.