tag:blogger.com,1999:blog-3315579333067639553.post8830252580808981979..comments2023-09-16T04:04:05.052-05:00Comments on Mad Engineering: Population PressureProfessor Preposteroushttp://www.blogger.com/profile/07833576109973350556noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3315579333067639553.post-66017052902345151202010-11-26T12:31:53.384-06:002010-11-26T12:31:53.384-06:00Yeah I know that, we have it here in the UK too. T...Yeah I know that, we have it here in the UK too. Though we call it progressive taxation.<br /><br />The problem is we have bracket 1 £6500 which is 0%. Then the next bracket is 34%!The Chinese guyhttps://www.blogger.com/profile/02042709338416365751noreply@blogger.comtag:blogger.com,1999:blog-3315579333067639553.post-6359392560496270592010-11-25T19:09:06.952-06:002010-11-25T19:09:06.952-06:00The highest tax rate in the US, in income tax anyw...The highest tax rate in the US, in income tax anyway, is 39%. It's also collected marginally, you only pay in a bracket, the income that's in the bracket. This is a confusing idea to most people, who seem to think that getting into a higher tax bracket means you pay more on the entire income.<br />HOWEVER, you may also pay taxes on your state and city, collected after the federal ones. Some states have no extra income taxes and are financed by some other means. (Usually a sales tax.)<br />I once determined for an argument that full time minimum wage would pay, out of $18,000 per year, 18.5% in tax, and a high wage ($400,000, arbitrarily selected) would pay 29.8% in tax.Professor Preposteroushttps://www.blogger.com/profile/07833576109973350556noreply@blogger.comtag:blogger.com,1999:blog-3315579333067639553.post-25827064131239702372010-11-25T13:11:08.523-06:002010-11-25T13:11:08.523-06:00Heh I should coco! The highest US tax rate is the ...Heh I should coco! The highest US tax rate is the UK's lowest tax rate! 32%!!The Chinese guyhttps://www.blogger.com/profile/02042709338416365751noreply@blogger.comtag:blogger.com,1999:blog-3315579333067639553.post-19965241443777184542010-11-24T20:22:44.820-06:002010-11-24T20:22:44.820-06:00Ironically, full time at minimum wage in the US ta...Ironically, full time at minimum wage in the US takes you into the second tax bracket. But otherwise, yeah, it's the same in the US. The people with the lowest incomes can literally collect more money for doing nothing.Professor Preposteroushttps://www.blogger.com/profile/07833576109973350556noreply@blogger.comtag:blogger.com,1999:blog-3315579333067639553.post-73997956523657449982010-11-24T14:55:59.018-06:002010-11-24T14:55:59.018-06:00The problem is all economies in effect rely on eve...The problem is all economies in effect rely on ever growing populations and growth. For instance selling bonds is selling the labour of the unborn. Without new debt slaves the system collaspes.<br />http://www.oldholborn.net/2010/11/bonded-labour.html<br /><br />OTOH in the UK the welfare state pays for EVERYTHING (read tax payers like me who are gouged 35% of everything in the £+20% sales tax). Which means the underclasses disproportionately have lots of children. Which means it doesn't actually pay to work if you earn less than £21,000. NutsThe Chinese guyhttps://www.blogger.com/profile/02042709338416365751noreply@blogger.com