Re: Personal Reflections and Rules to Live By
Hi Jayde,
I really think taxation wasn't emphasized enough here. If you need any kind of proof that the taxation system in the US is fundementally broken, just go over to Bill Gates's blog and read his post where he describes some of the problems with it.
https://www.gatesnotes.com/About-Bill-G … eview-2019
If Bill Gates, one of the richest men in the world, can come to the conclusion that there is something really wrong with the tax system, then it is really obvious that there is something wrong. Specifically, tax distribution isn't progressive in nature, while before the trump tax law, Fedex payed 1.5 billion in taxes, t when the law took effect, not only did fedex pay zero taxes, but the government owed them money.
https://www.businessinsider.com/fedex-i … es-2019-11
On the opposit end of the spectrum, the US taxes all income, regardless of whether it was earned in the US, or whether you were resident. That includes scholarship income. For example in my situation, in Turkey and the United Kingdom, where I received scholarships, they are not taxable. However, as they are taxable in the US, I will actually have to pay well over $1500 in taxes, which is a huge blow. Also, conservative states have really regressive tax systems where you don't pay income tax, but you have a sky high sales tax, a move which makes the poor and working class pay, as they makemore purchases, while the rich can keep the money out of sales taxes through investmenets etc.
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