How is everyone's paycheck looking?

[blazerboy30]

6.2% has been the normal tax rate for years,and this year the rate has gone back to normal. I'm glad I had the chance to invest more last year. now THAT I am happy about.

The executive branch isn't raising your taxes.

Who and what do you think is responsible for the 3.8% investment income surtax?

 

[MickZagger]

Who and what do you think is responsible for the 3.8% investment income surtax?

FICA

 

[PapaG]

Getting some sales early on, eh?

PS: Received your recent e-mail. Thanks for that. That said, gonna have to place property shopping on hold for a bit. She has to work through some potential lease-based issues with a former commercial space proprietor. Sucketh.

Maris is still trying to sell land in central Oregon? Good luck!

 

[PapaG]

6.2% has been the normal tax rate for years,and this year the rate has gone back to normal. I'm glad I had the chance to invest more last year. now THAT I am happy about.

The executive branch isn't raising your taxes.

Talking points. You didn't invest shit with you 2.whatever percent.

 

[MickZagger]

Talking points. You didn't invest shit with you 2.whatever percent.

That percentage was allocated into my 401K.

My money manager is the same as my dad's. On top of $3800 a month pension through UPS, I'm gonna be able to crack into a pretty 401K when I retire.

Damn Union.

 

[MARIS61]

Maris is still trying to sell land in central Oregon? Good luck!

Dedication and diligence, knowledge of my craft, and referrals from satisfied customers = "luck".

Real estate here in Beautiful Central Oregon is selling like hotcakes right now! Busiest winter I've had in 6 years.

 

[Denny Crane]

FICA

Guess again.

http://jeffduncan.house.gov/full-list-obamacare-tax-hikes

Surtax on Investment Income (Takes effect Jan. 2013): A new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single).

 

[blazerboy30]

FICA

Nope. It's a mandate from Obamacare. This one falls squarely on Obama and his ramming a terrible bill down American's throats.

 

[Mediocre Man]

FICA

This is actually not true


Sorry, I didn't read the other posts first

 

[mobes23]

Mine's down a little, but it won't change how we live. We may put just a little less into savings, but even that might not happen depending on investments/options.

 

[MARIS61]

Guess again.

http://jeffduncan.house.gov/full-list-obamacare-tax-hikes

Surtax on Investment Income (Takes effect Jan. 2013): A new, 3.8 percent surtax on investment income earned in households making at least $250,000 ($200,000 single).

Tax rate for that income level used to be 91% back in the 60's, so any complaints about today's rates for the rich are childishly ludicrous.

 

[MARIS61]

The Medicare "increase" (return to previous norms) is .9% and only affects the portion of your income that is over $200,000 yr.

$86 Billion: Hike in Medicare Payroll Tax (Takes effect Jan. 2013): Current law and changes:

Current Law

First $200,000
($250,000 Married)
Employer/Employee

1.45%/1.45%
2.9% self-employed

All Remaining Wages
Employer/Employee

1.45%/1.45%
2.9% self-employed

Obamacare Tax Hike

First $200,000
($250,000 Married)
Employer/Employee

1.45%/1.45%
2.9% self-employed

1.45%/2.35%
3.8% self-employed

 

[blazerboy30]

Tax rate for that income level used to be 91% back in the 60's, so any complaints about today's rates for the rich are childishly ludicrous.

This is a childishly ludicrous argument because you're ignoring the crazy levels of deductions that have accompanied those high tax rates. Not to mention that $200k today is SLIGHTLY different than $200k in the 60's.

Learn a little, then post.

 

[Denny Crane]

Tax rate for that income level used to be 91% back in the 60's, so any complaints about today's rates for the rich are childishly ludicrous.

Nobody paid 91% due to real estate scams (among others). Not even close to 91%. In fact, the rich paid $0 because of depreciation expenses. But you know better.

 

[BrianFromWA]

The Medicare "increase" (return to previous norms) is .9% and only affects the portion of your income that is over $200,000 yr.

$86 Billion: Hike in Medicare Payroll Tax (Takes effect Jan. 2013): Current law and changes:

Current Law

First $200,000
($250,000 Married)
Employer/Employee

1.45%/1.45%
2.9% self-employed

All Remaining Wages
Employer/Employee

1.45%/1.45%
2.9% self-employed

Obamacare Tax Hike

First $200,000
($250,000 Married)
Employer/Employee

1.45%/1.45%
2.9% self-employed

1.45%/2.35%
3.8% self-employed

MARIS, your numbers look legit, but how does moving a small portion (about 3% or so) of taxpayers .9% upward on their income over 200k get $86B? Is that a 10-year projection or something? And would you concur that even if the 86B is correct (and it's per year) that it's still only paying 10% of the Medicare/caid overruns?

 

[Denny Crane]

LOL at the .9% increase. Looks like a 62% increase to me. .9 / 1.45.

 

[MARIS61]

LOL at the .9% increase. Looks like a 62% increase to me. .9 / 1.45.

That's 'cause you're one of those glass-is-half-empty kind of guys.

It's .9% of the portion of your income that is over $200,000 yr. So $900 extra this year if you make $300,000.

 

[Denny Crane]

That's 'cause you're one of those glass-is-half-empty kind of guys.

It's .9% of the portion of your income that is over $200,000 yr. So $900 extra this year if you make $300,000.

And before you paid $1450 and now you pay $2350. That $900 jump is a 62% in what you pay.

 

[BLAZER PROPHET]

The executive branch isn't raising your taxes.

comedic gold

oh, and denial

 

[MickZagger]

comedic gold

oh, and denial

You're really gonna treat me like this on my birthday?

 

[magnifier661]

You're really gonna treat me like this on my birthday?

Happy birthday!!!!!!

 

[illmatic99]

$89 less ever 2 weeks. bleh... I hadn't even noticed. WTF

 

[MickZagger]

Here's a great post about the topic from another message board I attend.

LOL, you DO realize that the "America of WWII" taxed its citizens, on average, 50% -- and as much as 94% for top earners? Historically, tax rates were high until Reagan took office -- which is also when the deficit began ballooning.

The "America of WWII" died in the early 1980s, when the socialist-leaning South began voting Republican because of their conservative social beliefs, and right-wing legislature began green-lighting companies to turn bigger profits at worker's expense (e.g. decreased regulation, offshore manufacturing, etc.).

Most of these people who "do nothing," BTW, work full-time at places like Walmart. Unfortunately, jobs that use to pay living wages -- until the right-wingers took control -- now pay $10/hour - often with no benefits. At least the Waltons are rich!

Keep voting for the right-wingers, though. When FedEx's ISP model (struck-down by the left, approved by the right) and other competition forces UPS -- and its high labor costs -- into bankruptcy, and UPS picks NY-friendly right-wing bankruptcy courts to throw out union contracts, pensions, H&W obligations... well, keep telling me how much the right's on your side.

 

[Denny Crane]

 

[Run BJM]

This thread is reminding me of an image the Wall Street Journal used earlier this month:

http://online.wsj.com/article/SB100...0.html#project=WEALTH0105&articleTabs=article

The sadness in their faces really gives you an idea of the anguish and struggle these tax hikes have on these unfortunate hypothetical souls. LOL

 

[Denny Crane]

I don't know about that graphic. I would expect someone making $230K to have way more than $35K in deductions. Like a mortgage payment of $10K/mo.

 

[blazerboy30]

Here's a great post about the topic from another message board I attend.

You think it's a great post because it agrees with what you already believed... and both are false / misleading. We've talked about the so-called 94% tax bracket before and it is meaningless without discussing the deductions that were available at the time.