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Reply to "2013 HHI and paid tax"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Would you all agree to pay 30% of all purchase, rather than this yearly complicated tax thing? I don't know if I should include house-purchase or not, say 1M house with $300K property tax? We are paying $14000 property tax per year, so in 20 years, close to that amount, then start over again.[/quote] I would rather everyone pay a simple flat tax with no deductions and treat all income equally (salary, dividends, capital gains, etc.)[/quote] I like the idea of treating all income equally and not having any deductions! However, I would still keep the progressive tax rate (maybe just 2 or 3 brackets). It really doesn't seem fair to charge someone making $50k with the same percentage as someone making $500k. Our HHI last year was $470k and we paid $107k in fed tax so (almost 23% effective rate) and $22k Va tax. [/quote]
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