United We Stand - uwsboard.com

Virginia Tech fans discussing politics, religion, and football
It is currently Mon Nov 20, 2017 12:15 pm

Time zone: America/New_York


UWS DWF UWS Lunch UWS Sports UWS Help TSL Football TSL Lounge TSL MBB Acronyms Top 25 Topics


Forum rules


Please be civil.



Post new topic Reply to topic  [ 54 posts ]  Go to page Previous  1, 2, 3
Author Message
PostPosted: Wed Nov 08, 2017 2:22 pm 
Offline

Joined: Wed Aug 21, 2013 8:29 pm
Posts: 5670
Hokie CPA wrote:
If they're smart they'll fix the gasoline tax problem first. It needs to be doubled and indexed for inflation (gas tax should be about 10% of the average price per gallon of gasoline rather than the flat 13¢ per gallon, or whatever it is, the Commonwealth currently collects).

If they want to raise the income tax, the creation of new brackets makes the most sense. Maybe create a 0% bracket at the bottom and create a 7% bracket for VATI greater than $50,000.

Yep, put another hit on those that actually pay taxes.


Top
 Profile  
 
PostPosted: Wed Nov 08, 2017 2:28 pm 
Offline
User avatar

Joined: Wed Aug 21, 2013 10:50 pm
Posts: 2332
Location: Virginia Beach, VA
Alma Mater: Norfolk Academy to Virginia Tech
Party: I reject your party
133743Hokie wrote:
Hokie CPA wrote:
If they're smart they'll fix the gasoline tax problem first. It needs to be doubled and indexed for inflation (gas tax should be about 10% of the average price per gallon of gasoline rather than the flat 13¢ per gallon, or whatever it is, the Commonwealth currently collects).

If they want to raise the income tax, the creation of new brackets makes the most sense. Maybe create a 0% bracket at the bottom and create a 7% bracket for VATI greater than $50,000.

Yep, put another hit on those that actually pay taxes.


If you read through my other posts in the thread, you'll see this was an answer to the OP's question. I'm not actually in favor of raising taxes (except for the gas tax). If anything, I want to cut the income tax by making it so you don't reach the highest tax bracket until some level far higher than $17,000.

_________________
I don't care if you're a Democrat or a Republican... if you refuse to consider alternatives to the two parties, you support the Status Quo and you are a major part of the problem.

Image


Top
 Profile  
 
PostPosted: Wed Nov 08, 2017 2:30 pm 
Online

Joined: Mon Aug 19, 2013 4:57 pm
Posts: 8238
BigDave wrote:
Hokie CPA wrote:
Even for folks with $100,000 of VATI pay $5,490 under the current system and only $3,940 under my proposal. It's about putting a lower rate on a higher income base and slapping a higher rate on higher income.

In fact, it's a tax cut for everyone with VATI less than $224,200, if you set the two equations equal and solve for x.


Because evil rich people just don't pay enough in taxes!

My wife and I are on track to pay 35% of our income in state and federal taxes this year. How much is enough to make you happy?


I laugh at your paltry tax bill!!!


Top
 Profile  
 
PostPosted: Wed Nov 08, 2017 2:35 pm 
Offline

Joined: Wed Aug 21, 2013 8:29 pm
Posts: 5670
Hokie CPA wrote:
133743Hokie wrote:
Hokie CPA wrote:
If they're smart they'll fix the gasoline tax problem first. It needs to be doubled and indexed for inflation (gas tax should be about 10% of the average price per gallon of gasoline rather than the flat 13¢ per gallon, or whatever it is, the Commonwealth currently collects).

If they want to raise the income tax, the creation of new brackets makes the most sense. Maybe create a 0% bracket at the bottom and create a 7% bracket for VATI greater than $50,000.

Yep, put another hit on those that actually pay taxes.


If you read through my other posts in the thread, you'll see this was an answer to the OP's question. I'm not actually in favor of raising taxes (except for the gas tax). If anything, I want to cut the income tax by making it so you don't reach the highest tax bracket until some level far higher than $17,000.

That would reduce tax revenue so not gonna happen


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 54 posts ]  Go to page Previous  1, 2, 3

Time zone: America/New_York


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  

Powered by phpBB® Forum Software © phpBB Group Color scheme by ColorizeIt!