I'M RICH!!! Oh, wait, maybe not...

[KenpoTess]

I'm poor.. but happy

 

[michaeledward]

First of all, it's twelve percent. Second, I said in proportion of the amount he makes. I neglected to say, however, that he stepped down as CEO in 2000. :whip:

This link says that the 2003 tax rate for individuals filing with income less than $7,000.00 pay 10%.

http://www.irs.gov/formspubs/article/0,,id=109877,00.html

Bill Gates stepped down from Chief Executive Officer. He is still employed by Microsoft. His title is currently 'Chief Software Architect'. In this position, he earns a salary of $865,000.00 per year.

Your Salary = $3,000.00
Your Tax Burden = $300.00 (10% of wages)

BG Salary = $865,000.00
BG Tax Burden = $302,750.00 (35% of wages)

How does he not pay more, in proportion to income, than you?

 

[MartialArtist68]

Fine. Whatever. You got me. I back down.

 

[MartialArtist68]

Fine. Whatever. You got me. I back down. The point I was trying to make, however was that I wouldn't mind paying taxes so much if I could vote.

 

[mj-hi-yah]

Not to pry, but does anybody on this forum make $285,000 or more a year and fall into the category of the richest 1%? Or are we all in the middle class?

I sure don't make that mu...oops...just blew my chances with MJ. Dang.


Regards,


Steve

:rofl: You are rich in other ways Steve!

 

[Flatlander]

What I don't understand is that I, as a minor, who makes approximately $3,000 a year, still have to pay taxes when Bill Gates, one of the richest men in the world, doesn't have to pay as much in proportion to his salary. I can't even vote!

If you were wanting to address the unfairness of needing to pay income taxes prior to reaching the eligible voting age, perhaps this could have been a little differently worded. I too had misinterpreted this post to mean that you questioned the ratio of taxes paid. No worries!

If you'd like to discuss voting age vs. income taxes liability, you could start a thread on that. :asian:

 

[michaeledward]

Fine. Whatever. You got me. I back down. The point I was trying to make, however was that I wouldn't mind paying taxes so much if I could vote.

That issue will resolve itself on its own in a short period of time. Ahh, the impatience of Youth!