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Dr. Shepper

(3,014 posts)

3. Even adjusting for inflation

Reply to roamer65 (Original post)

Fri Apr 2, 2021, 03:22 PM

Apr 2021

This would mean after mortgage and basic bills (including student loans and medical) were paid, we would have nothing left even for groceries.

No thank you.

ETA - we moved to the Midwest so our mortgage is basically the cost of rent we paid on the west coast. We would have to give up the house, no more extracurriculars for the kid, and no trips home to see the family.

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18 replies

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This is what we need to return to for federal income tax rates. [View all] roamer65 Apr 2021 OP

As you say, tweaking needed. Karadeniz Apr 2021 #1

I'll do you better than that, but it'll have to wait until I'm not on a mobile device JHB Apr 2021 #2

Even adjusting for inflation Dr. Shepper Apr 2021 #3

Run your numbers thru an inflation calculator. roamer65 Apr 2021 #4

This message was self-deleted by its author Dave in VA Apr 2021 #5

In today's dollars, that would be 50% at the 115K bracket. That would bankrupt many Scrivener7 Apr 2021 #6

1982 dollars. roamer65 Apr 2021 #14

But local taxes have exploded since 1981. State income tax up, doc03 Apr 2021 #7

Disagree JustAnotherGen Apr 2021 #8

Those tables have a MASSIVE marriage penalty - possible made some sense when more kelly1mm Apr 2021 #9

Yes. WarGamer Apr 2021 #10

Or a GST. roamer65 Apr 2021 #13

absolutely... WarGamer Apr 2021 #16

There should be a smaller GST on non-luxury items. roamer65 Apr 2021 #17

We do need more brackets that stretch higher up the income scale, though the details... JHB Apr 2021 #11

I like your analysis. roamer65 Apr 2021 #12

How about raising capital gains and corporate taxes instead? tinrobot Apr 2021 #15

I have no problem with it. roamer65 Apr 2021 #18