Posted by dhermesc on September 01, 2017 at 06:11:27 from (24.248.193.103):
In Reply to: Re: Tax question posted by Hay hay hay on August 31, 2017 at 18:38:57:
Basic human nature. For most people and businesses earning more money requires more effort and in our business it means taking more risk. With higher tax rates at higher levels of income you are essentially working harder and risking more for less return on that effort and risk.
Our construction business has net income of 200K currently and after tax about $151,000 or about 25% effective tax rate. We want to double our net income so now everyone is working overtime, we bid jobs aggressively trying to ad to the volume, we have to hire new hourlies and supervisors. Some don't work out, some actually cost many times what they are worth - typical new hire problems. After doing all that we achieve the goal of $400,000 net income. For all that extra effort and risk taken I get to keep $132,000. You worked harder, took al sorts of risks and got paid less for that effort.
Tax Defined: 1. Compulsory contribution to state revenue, levied by the government on workers' income and business profits or added to the cost of some goods, services, and transactions.
2. a strain or heavy demand.
3. make heavy demands on (someone's powers or resources).
Basic economics. If you want more of something you subsidize it, if you want less of something you tax it. Current government policy is to tax work and subsidize sloth.
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