3 ms·

Borrowing to build a bridge is economically rational. Borrowing to pay someone who could work not to isn’t. That’s not an investment, it’s just debt. (Debt t

Borrowing to build a bridge is economically rational. Borrowing to pay someone who could work not to isn’t. That’s not an investment, it’s just debt. (Debt that has to be paid back, usually with another person's labor.) If people want these programs, do the hard work and start championing for large tax increases.

daniellarusso 5y ago
What about paying them to stay out of prison?
- chillwaves 5y ago
  It's more economically rational to build prisons. Think of the jobs!
Daishiman 5y ago
I believe they are alreading working on increasing the tax rate for similar reasons.
- treeman79 5y ago
  My 50% tax rare isn’t enough? My wife likes to work, yet contributes nothing due to taxes. Accounting for extra expenses.
  - Daishiman 5y ago
    A lot of jobs are basically untenable if you account for extra expenses, including a lot of the "gig economy" scams. I don't really believe you're actually paying a 50% tax rate. Unless you mean a _marginal_ tax rate.
    - gpapilion 5y ago
      Probably not federal, but I pay that much in state and federal combined. It’s believable for a tech worker in ca.
      - sundaeofshock 5y ago
        I’m a tech worker in California, and my effective tax rate is nowhere near 50%. I suggest you get a better accountant.
        nostromo 5y ago
        There are a lot more taxes than just income tax. Property tax, sales tax, car tabs, usage fees, gas tax, sin taxes, etc. These all add up, and depending on your lifestyle can easily go well above 50% in California. (The highest federal + California tax rate is already around 50%.)
        sundaeofshock 5y ago
        My wife and I are high income earners in the state of California. Looking at our 2019 tax returns, I see our effective tax rate was 29%. Property taxes were 4.5%. So, together a smidge below 34%. To get to a 50% tax burden, the remaining 66% of our income would have been taxed at a ~24% rate. Of course that didn't happen since we spent on things like our 401(k) and food (both of which are not taxed), plus our cash savings. I stand by my statement that any high-income earner paying 50%+ in taxes needs to get a better accountant.

daniellarusso 5y ago

What about paying them to stay out of prison?

chillwaves 5y ago
It's more economically rational to build prisons. Think of the jobs!

Daishiman 5y ago

I believe they are alreading working on increasing the tax rate for similar reasons.

treeman79 5y ago
My 50% tax rare isn’t enough? My wife likes to work, yet contributes nothing due to taxes. Accounting for extra expenses.
- Daishiman 5y ago
  A lot of jobs are basically untenable if you account for extra expenses, including a lot of the "gig economy" scams. I don't really believe you're actually paying a 50% tax rate. Unless you mean a _marginal_ tax rate.
  - gpapilion 5y ago
    Probably not federal, but I pay that much in state and federal combined. It’s believable for a tech worker in ca.
    - sundaeofshock 5y ago
      I’m a tech worker in California, and my effective tax rate is nowhere near 50%. I suggest you get a better accountant.
      - nostromo 5y ago
        There are a lot more taxes than just income tax. Property tax, sales tax, car tabs, usage fees, gas tax, sin taxes, etc. These all add up, and depending on your lifestyle can easily go well above 50% in California. (The highest federal + California tax rate is already around 50%.)
        sundaeofshock 5y ago
        My wife and I are high income earners in the state of California. Looking at our 2019 tax returns, I see our effective tax rate was 29%. Property taxes were 4.5%. So, together a smidge below 34%. To get to a 50% tax burden, the remaining 66% of our income would have been taxed at a ~24% rate. Of course that didn't happen since we spent on things like our 401(k) and food (both of which are not taxed), plus our cash savings. I stand by my statement that any high-income earner paying 50%+ in taxes needs to get a better accountant.