Did you read the post I was replying to? It seems like he's the one jealous of my 18% tax rate...
I don't think he wants to swap salaries though. Interesting...
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Now you're just sounding jealous, sort of like the OWS folks.
I paid more in federal taxes YTD than your salary and I'm not even in the 1% so go fuck yourself.
I really don't pay much federal tax. I haven't run the numbers but maybe 10%. i'm not going to disclose my salary on here either, but I would be ok off if i were single. I have a stay at home wife, two kids and a mortgage so we struggle to get by.
BULL FUCKING SHIT!
What part of they pay ZERO federal income tax can you not understand? The EITC and most all deductions are not available to those "millionaires and billionaires" Have you never filed your taxes? no AMT? No attention to phase out based on income?
It's not a strawman, it's a fact. My guess is OP hasn't done his taxes yet and is instead focusing on what was withheld, not what he actually paid. And you're doing the same, ignoring that all those credits and deductions cannot be taken by "the rich". Rich being any white collar professional male with no kids or a dual income white collar professional family.
Understand facts before you start throwing the strawman word around.
Why don't you want to disclose your salary here? No one knows who you are.
I think the term is "marginal utility". My take home pay is $12.00/hr, but with no taxes it would be $15.28. That's over a 25% difference.
Then when you factor in the fact that a lot of baseline costs are the same for both of us, that the real burden of my taxes is even bigger.
Look at it this way... I didn't have to pay any taxes, my yearly savings would go from -$3000 to +4000. What about yours?
Highly predictable rant. Throckmorton doesn't qualify for any of that, because he's single, and because he rents, so all he gets is the standard deduction.
I'm pretty sure you'll be taking the interest deduction on your new casa, correct? Professional expenses as deductible? No SS on income above the current $106K cutoff, either. Free matching money to your tax deferred 401K from your employer? Probably. Anything else you can weasel out of paying? Undoubtedly.
If you really were rich, you'd only be paying ~17% in federal taxes, like the top 400 incomes, because it'd be from dividends & capital gains, not earned income. And you'd be collecting a lot of fringe, too. So you're not, of course, even though you like to put on airs, pretend that you're being taxed to death.
Forget taxes. Remember the bottom line is what counts, and from what you claim, yours is more than nice. Be grateful that you live in a society where your skills are valued, where it's safe, and where your firearms fetish is just indulging your fantasies rather than a necessity.
Or just keep whining & looking down your nose at others not so fortunate as yourself.
Obviously, you're not.
Did you read the post I was replying to? It seems like he's the one jealous of my 18% tax rate...
I don't think he wants to swap salaries though. Interesting...
47% don't pay federal income tax. Have a look here:
http://www.nytimes.com/2010/04/14/business/economy/14leonhardt.html
Fern
Upper middle class Righties resent paying taxes at all, and wealthy Righties even more so. Taxes are for little people.
They're willfully blind to the things that govt does for them.
Can you describe said loopholes that can be taken advantage of by a dual income white collar family in the top 2%? I would like to take advantage of said loopholes. Please do describe said loopholes.
Highly predictable rant. Throckmorton doesn't qualify for any of that, because he's single, and because he rents, so all he gets is the standard deduction.
I'm pretty sure you'll be taking the interest deduction on your new casa, correct? Professional expenses as deductible? No SS on income above the current $106K cutoff, either. Free matching money to your tax deferred 401K from your employer? Probably. Anything else you can weasel out of paying? Undoubtedly.
If you really were rich, you'd only be paying ~17% in federal taxes, like the top 400 incomes, because it'd be from dividends & capital gains, not earned income. And you'd be collecting a lot of fringe, too. So you're not, of course, even though you like to put on airs, pretend that you're being taxed to death.
Forget taxes. Remember the bottom line is what counts, and from what you claim, yours is more than nice. Be grateful that you live in a society where your skills are valued, where it's safe, and where your firearms fetish is just indulging your fantasies rather than a necessity.
Or just keep whining & looking down your nose at others not so fortunate as yourself.
Obviously, you're not.
well, in 2011 you can contribute to a ROTH IRA. in 30 years, that $5,000 you invest this year actually means you just stole $30,000 from the poor people of the future.
We must have reforms! you need to give that $30,000 to poor people today!
Changing your song and tune...you said pay no taxes the first time...
I mean in a sense I get this argument. Even I look at this argument as not fair. 95% of my income is earned and ordinary, whereas if I had a lot more money it would be from dividend and capital gains. The group from $500k to $5MM imo is paying the highest average tax rate and there will be a drop off after that group on average. The progressive tax system is progressive until a point.
I think you're a little off base. People in the top 1% but below the top .1% paid the highest rates from 2001-2008, roughly those in the $300K-$1.5M range. Until 2009, those in the top .1% paid less, and those in the top .01% likely much less.
http://www.taxfoundation.org/news/show/250.html
If you study the charts at all, it's easy to see who were the beneficiaries of the ownership society- the top .1%.
No, he didn't. Throckmorton did. And you're being obtuse, purposely ignoring the commonly accepted implied meaning for a hyper-technical definition that would be commonly accepted as absurd.
If the "47% paid no taxes!" meme weren't intended to be misleading, then those offering it would simply say "47% paid no federal income taxes" to avoid the impression that they're being deceptive. That's not hyper-technical, at all.
But they don't, ever, which should tell you something.
I paid more in federal taxes YTD than your salary and I'm not even in the 1% so go fuck yourself.
If the "47% paid no taxes!" meme weren't intended to be misleading, then those offering it would simply say "47% paid no federal income taxes" to avoid the impression that they're being deceptive. That's not hyper-technical, at all.
But they don't, ever, which should tell you something.
It's my life, MY money that I work my ass off for..
I never claimed to be rich, and your right, my bottom line is what counts. It's my life, MY money that I work my ass off for.
And I will not suffer guilt for my success and be "grateful". I am grateful for my good decisions.
OP - you work in geography, get your foot into oil/energy. See the opporunity and grab it.
If he's in the top 2% he can't contribute to a Roth. $179,000 for joint filers is the max amount where someone can still contribute. Top 2% should put him over this level.
I don't think you "decided" to be born as a white male in a semi socialist society that broadened opportunity for all Americans, the society of the New Deal that's slowly being destroyed by your right wing idols, or that you decided to be born w/o gross mental or physical defects, either. I "suffer" from those same disadvantages myself.
Being a self righteous & egotistical prick really is a matter of choice, however. It doesn't look good on anybody.
this is where you are mistaken and forget we're talking about loopholes here...
http://money.cnn.com/2011/05/13/pf/roth_ira_tax_loophole.fortune/index.htm
"Inexplicably, Congress left a major loophole in the new tax code. No matter what your income, you're eligible to open a traditional, nondeductible IRA, which you can then convert to a Roth now that the income limits on conversions have been lifted. And you can repeat the process each year as long as the loophole is in place. "It's almost certainly an unintended consequence of the new rules," says Ed Slott, a CPA and IRA specialist in Rockville Centre, N.Y. "But it's a perfectly legal maneuver and a great strategy for high-income investors."