Tag: Tax

THIS Is Why The Latest Stimulus Bill Is A DISASTER

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Fact: American people who have been and will be paying taxes for life actually only get 9% of the entire package.

Bonus that your children will grow up and continue to pay high taxes to make these corrupt politicians’ pckets fatter so they can create more of these bullshit “relief” packages.

P.s: all of my friends and families in Vietnam confirmed that they haven’t received a cent from the government the whole time where U.S.A claimed to send billions dollars to Vietnam as “Covid relief” packages. When corrupt parties work together, only the citizens are suffering!

Tax Rates – The Laffer Curve

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Pay attention to the Romer & Romer Study.

He does make a valid point.

It doesn’t matter what kind of business you operate or if you’re just an employee for a company… Under the progressive tax system, the more money that you make, the higher tax bracket you’ll be put in and more taxes you’ll pay out of your own pocket.

Obviously, the higher tax bracket you start being into, you find ways to lower your taxes or you just work less.

This adds on to what one of John Stossel’s videos mentioned, the higher the taxes there is imposed – the wealthy or big businesses making big bucks find ways to lessen their taxable income (e.g. work less hours) or move their business outside were they can utilize favorable tax incentives, etc.

America’s Progressive Income Tax overview

Simple example of the Progressive Income Tax

Concept of basic Economics of “Cause and effect.”