I think it's the latter. That's why I am running for President.
This problem of excess taxation is really "YUGE", so says the #1 contender. What does he care? He's a billionaire. Don't forget, he (Trump) brought us Operation Warp Speed-- devastated the economy, destroyed our health and stepped on our freedom as Americans were attacked with a bioweapon. America is rapidly becoming a third world country. If we don't start implementing real solutions very soon, the Republic is doomed. It's time for Patriots to stand up.
Go Steve Laffey!!
70% is more than I figured myself. People just don't believe this until you map it out tax by tax. Federal and State Income tax, sales tax, gasoline and other fuel taxes, real estate and other "personal property" taxes, "sin" taxes on smoking, etc., other taxes (not called taxes) like TDI, DEM fees (fishing, hunting, etc.), and many more. It all adds up fast. In effect we become less free and our liberty is controlled (like the Stamp Act in 1766) by the government's ability to tax us. This must change, and Laffey will change it. "LET'S GOOOOOOO!!!!!!!"
Okay, I looked it up ('marginal' tax rate). So, apparently marginal tax rate means the amount of *additional tax paid* for every *additional dollar earned* as income. So, apparently we have a very broken system, whereby, as you earn more, you are taxed at a significantly higher rate, such that the gains you worked for (to climb out of poverty) you don't get to keep. Talk about DISINCENTIVIZING HARD WORK TOWARD A BETTER LIFE ! ! ! Laffey will fix this and keep incentives that REWARD HARD WORK! Let's help this man to help the poor to climb out of 'the poverty trap'. Let's reward their hard work! Let America be about opportunity again! Steve 'Mr. Fix It' Laffey knows what policy tweaks are needed to Fix This. stevelaffey.com
Yes, once folks are poor, the odds are stacked against them when they try to better their lives, especially if they are trying to raise a family. The various rules and regulations are not coordinated in such a way that, when taken together, they genuinely incentivize and assist a person to climb out of poverty — the effective tax rate being so high, the more they make. I am assuming that "marginal" means something like "effective", and that the talk of the shape of curves going up-ish (convex) and down-ish (concave) is speaking to the issue of a person having to pay a greater amount of their income as they work harder to earn more, to the point where — they *LOSE* the more they win! This is a sad situation, and I agree with presidential candidate Steve Laffey advocating for a MUCH SIMPLER, NO LOOPHOLES TAX SYSTEM such as a Herman Cain's 9-9-9 style plan. A flat tax plan that expands the base to include the formerly tax-dodging wealthy people, and that is also a federal sales tax and a 'no loopholes' corporate tax. None of this current BYZANTINE code that keeps the poor in poverty, into perpetuity. We're talkin' FOREVER! Steve Laffey wants to give the poor a chance to climb out of poverty. He is PRO OPPORTUNITY! He wants to incentivize all those behaviors that good people do their best to perform. Working harder to raise your family shouldn't be penalized. No one should be disqualified from the possibility of achieving their American Dream. Let's put a person who wants the poor to succeed in life, in the White House! Step One: VOTE HIM ONTO THAT DEBATE STAGE. Then we'll see what Steve Laffey has to offer, in stark contrast to the talkers with no plans or relevant records of achievement that prove 'commitment to ideals'! stevelaffey.com/about fixingamericamovie.com