RealTalk: Your President Wants To Raise My Taxes to Close to 60%

[thaisativa1]

Originally Posted by swizzc

I mean if you do the math it really isn't ridiculous to think what HovKid is thinking. Let's say he makes around 250k and works anywhere from 70-100 hours a week depending on how busy he is. Take 85hrs/week on average, and working 50 weeks a year (2 weeks for vacation, this is just another assumption). So right now he is making roughly $58 per hour. $58*.40 (which is how much he will be keeping) is $23.50 an hour. Sadly this is about how much an entry level position at most big companies make. I rest my case (word to HovKid).

/ thread

 

[nealraj006]

Originally Posted by dgk3188

rich people complain too much.

shut up

greedy

you wouldn't say that if you were in his shoes

 

[mexicansoul]

Originally Posted by thaisativa1

Originally Posted by swizzc

I mean if you do the math it really isn't ridiculous to think what HovKid is thinking. Let's say he makes around 250k and works anywhere from 70-100 hours a week depending on how busy he is. Take 85hrs/week on average, and working 50 weeks a year (2 weeks for vacation, this is just another assumption). So right now he is making roughly $58 per hour. $58*.40 (which is how much he will be keeping) is $23.50 an hour. Sadly this is about how much an entry level position at most big companies make. I rest my case (word to HovKid).

/ thread

Thats not just in his case..theres us regular folk who get taxed as well...I get a good 30-40% taxed. I hate it but I dont cry cause I'm doinga lot better than many people.

 

[joseph camel jr]

Originally Posted by Chi ILL

I got paid today in they took out $200+ ...

I'm a damn near broke College student ... I don't even care that much ...

It's all good , if it's for the Public schools I'm all for it .

EDIT*

I also think that people in medicine are overpaid .

And why is that?

And you're a college student....of course you don't care, you have parents who support you.

Originally Posted by MexicanSoul

Originally Posted by Joseph Camel Jr

Originally Posted by MexicanSoul

I doubt you'd feel it. You make 250k a year...use your brain and hire a good accountant to keep you right at or slightly above what you're being taxed now.

250,000 a year is not as much as you think, especially after taxes. If you have a wife who isn't working or doesn't pull in much and kids to support, you don't have all that much left over.

And there isn't much an accountant can do to help you there, except using tax shelters which are becoming or already have been illegal. And i guess there's always tax evasion, have fun with that.

I'm in education...my principal makes 100k, average teacher makes 40k(where I fall after taxes)...250k a year is plenty. The rich cry when taxes go up but are quick to praise a flat tax? C'mon now. If you can't make 250k float then you're doing something wrong.

Who praised a flat tax? A flat income tax is so absurd I can't even begin to describe it. Nobody has cited that as a viable option.

What I consider fair is lowering income taxes across the board, and further dividing up the highest tax bracket into at least two separate ones. And even atthe top, nobody should pay half of what they make in taxes, that makes no sense.

This isn't about "making 250K float," it's about forfeiting half or more of your hard-earned money so that a wasteful government can spend itor distribute it how it sees fit in a grossly inefficient manner.

 

[n o r e a g a]

Originally Posted by kashino1

thanks for paying for my health care

 

[fear the ibis]

So go make more money then. I understand where you're coming from completely but we all knew this would happen when Obama got elected. Complaining about itisn't going to get you anywhere. Maybe you should have campaigned harder for McCain. Bottom line....you're still going to get raped by the govt. anyway possible. If you're worried about them taking away 60% of your $250k a year then go make $417k so the govt. can take away 60% of that and you'llstill have your 250k. Do what you gotta do. If the govt. wants to tax me 90% i know I'm going to work my @$* off to make sure that 10% I keep is as much aspossible.

 

[justscoreda100]

Originally Posted by 718stylez

in many ways our political appetite mirrors our personal resolve.

i guess as a history buff i look back at previous american generations who sacrificed for the sake of the country. in the civil war 2% of the entire population died, that would be around 7 million dead in todays numbers. During WWII there were rations and entire generations were asked to put there personal dreams and ambitions on hold for country. Yet seemingly now, things are less about the greater good of the community and more about individual wants. I'm not naive i know that there's always been those who have put personal interests ahead of the pact, but i guess they are now a growing/more vocal block.

it's easy for us to sacrifice in the face of immediate danger. wars, terrorism etc are graphic enough to jolt us out of complacency and into sacrifice. if we were bombed tomorrow and had to go to war no one would think twice about a 5% increase in taxation, let alone 1.5%. Yet more people have died do to heart disease than have died in war. throughout this whole debate on healthcare, i have not heard what is in the best interest for the COUNTRY. What is good for the largest amount of people out there? instead its broken down into tribalism with the patients, hmos, insurance companies, poor, middle class and wealthy all going to battle to protect their fiefdom. no ones willing to look out and sacrifice for others.

i lived in NJ for years and now NY. these states pay more to the government in taxes than they get back. this has pretty much been the case since i can remember. yet you rarely hear people complaining about states like Louisiana and Mississippi that regularly take more federal dollars than they earn. Is that fair? No. But i recognize our union is a lot stronger when Louisiana and Mississippi are taken care of.

So your comparing temporary changes during tough times to a permanent change that could affect multiplegenerations? What you say sounds all rosy and kosher but we eventually have to face reality. This plan is not going to sustainable unless they drasticallylower the price and don't raise taxes.

For the good of the country? sounds like nationalistic propaganda to me. Whats best for the country is whats best for its future generations. Loading massiveamounts of debt onto future generations stands to only lower the quality of life as time progresses.

 

[sundoobie]

Originally Posted by N O R E A G A

Originally Posted by kashino1

thanks for paying for my health care

Nothing in life is free. Well unless you or your parents are unemployed and living on welfare, than yah I guess you do get free health care.

• Individuals would be required to obtain health insurance or pay a 2.5% income tax penalty.
Govt forced health coverage FTL

 

[fear the ibis]

Originally Posted by LifeLessons

Originally Posted by LazyJ10

Originally Posted by HOVKid

I love how all of you are like "go find loopholes."




Man, I want to be an upstanding citizen and pay what is due. If forced to find a way to hide my money that's what I'll do, but Jesus, that is what it
come down to now?




That's yo man......

It's just called proper tax planning. Before you took your job, you knew how much you were going to make as you posted it on NT. At the same time, you should have immediately went to a tax attorney or a respected CPA and discussed what you could/should do in this tax bracket. I know my firm was operating under the notion that taxes would go up and the Bush tax cuts would expire, so we got clients in here asap to discuss. Some accelerated their revenue, some move to defer. When you enter that tax bracket, a certain level of sophistication is automatically assumed.

This. Knowing how to effectively manage your money in regards to taxes is essential if you ever plan on earning a high salary.

 

[718stylez]

Originally Posted by 718stylez

in many ways our political appetite mirrors our personal resolve.

i guess as a history buff i look back at previous american generations who sacrificed for the sake of the country. in the civil war 2% of the entire population died, that would be around 7 million dead in todays numbers. During WWII there were rations and entire generations were asked to put there personal dreams and ambitions on hold for country. Yet seemingly now, things are less about the greater good of the community and more about individual wants. I'm not naive i know that there's always been those who have put personal interests ahead of the pact, but i guess they are now a growing/more vocal block.

it's easy for us to sacrifice in the face of immediate danger. wars, terrorism etc are graphic enough to jolt us out of complacency and into sacrifice. if we were bombed tomorrow and had to go to war no one would think twice about a 5% increase in taxation, let alone 1.5%. Yet more people have died do to heart disease than have died in war. throughout this whole debate on healthcare, i have not heard what is in the best interest for the COUNTRY. What is good for the largest amount of people out there? instead its broken down into tribalism with the patients, hmos, insurance companies, poor, middle class and wealthy all going to battle to protect their fiefdom. no ones willing to look out and sacrifice for others.

i lived in NJ for years and now NY. these states pay more to the government in taxes than they get back. this has pretty much been the case since i can remember. yet you rarely hear people complaining about states like Louisiana and Mississippi that regularly take more federal dollars than they earn. Is that fair? No. But i recognize our union is a lot stronger when Louisiana and Mississippi are taken care of.

So your comparing temporary changes during tough times to a permanent change that could affect multiple generations? What you say sounds all rosy and kosher but we eventually have to face reality. This plan is not going to sustainable unless they drastically lower the price and don't raise taxes.

For the good of the country? sounds like nationalistic propaganda to me. Whats best for the country is whats best for its future generations. Loading massive amounts of debt onto future generations stands to only lower the quality of life as time progresses.
everything the federal government does is for nationalistic purposes by virtue of it being federal. national healthcare is no more propaganda thana national guard. i think there are certain issues which mandate gov't intervention because the problem is too large to solve individually.

And interesting that you think those sacrifices were temporary. considering how the military industrial complex has managed to consume more and more of ournational debt in the years after our greatest wars, i'd say they were/are pretty permanent. yet let someone talk about curbing defense spending in anymeaningful manner and you'd hear about it loud and clear.

while debt is a very real issue for future generations to deal with i just cant agree that its more important than healthcare. without your health, nothingelse really matters. ironically, most people go into debt and bankruptcy due to overwhelming medical costs.

 

[zapatito007]

Originally Posted by HOVKid

I love how all of you are like "go find loopholes."

Man, I want to be an upstanding citizen and pay what is due. If forced to find a way to hide my money that's what I'll do, but Jesus, that is what it come down to now?

That's yo man......

lmaoooo obama a socialist cuz hes tryin to provide universal health care,,that would make Austria,italy, England,Spain ,Canada ,France allsocialist countries,, were the only wealthy industrialized nation without universale health care, its about time someone tried to do something about it,, evensome south american countries have it, its shame we dont yet ,,, and i would also rethink believing everything the ny post print

 

[da703trailblaza]

NT = the WORST place for politics, most of you dudes are talking out your #!*.

Hovkid, you're welcome for a free bump.

 

[utvol23]

Originally Posted by JinKazama

Yet another thread discussing taxes, obama...when are you guys going to get it. Its pay now or pay later...no matter what you are going to pay. I am especially sensitive to healthcare reform since I work in the industry.

I could write a book explaining how important what Barack is doing with healthcare is. In a nutshell I'll explain it like this...the costs to provide healthcare to all those who need it is routinely more than what healtcare providers get paid to provide it. We used cost shifting to cover the difference. With the amount of uninsured individuals and several other factors this is no longer feasible or sustainable. Without some type of intervention...the healthcare industry will be in the same predicament the banking industry is in within 2 to 3 years IMO. Unfortunately, bailing us out will be a lot MORE expensive and take a LOT longer. Not to mention the potential loss of life/quality of life if the healthcare industry failed.

Trust me guys, a 60% tax bracket will be the least of your worries if some type of reform is not enacted. Would I prefer we get this done where nobody pays anymore taxes, healthcare is free, and everybody gets it...heck yes, but that's not realistic.

This going to be painful folks, but trust me, the alternative would be a lot worse.

Exactly what do you do in the healthcare field. What he is doing is going to bankrupt the country and destroy all the initiative and incentive forhealthcare.

 

[thunderchunk69]

Originally Posted by HOVKid

If it happens, I will seriously consider stopping what I do and just becomeimng a janitor.

no, no you won't

 

[twinsnyc]

Originally Posted by swizzc

Originally Posted by SunDOOBIE

Yah its pretty disgusting.

They may even phase out the mortgage interest deduction for high income earners.

The worst part is the Govt wants to tax us more and spend more on things we don't necessary agree with. I mean health coverage for every single American even including the illegal immigrants? We're paying more tax for health benefits to illegal immigrants whom send all the money they make here in the States to their home country like Mexico.

Tax More Spend More = Failure

Yea but.... Obama plays basketball! He's cool! He likes sports! So it's OK!!!

But he throws like a 4 year old girl

, but seriously though I dont mindthe govt helping out on healthcare I pay over a G a month for my family

and it just keeps going up, but 57% tax is crazy.

 

[utvol23]

Originally Posted by MexicanSoul

Originally Posted by Joseph Camel Jr

Originally Posted by MexicanSoul

I doubt you'd feel it. You make 250k a year...use your brain and hire a good accountant to keep you right at or slightly above what you're being taxed now.

250,000 a year is not as much as you think, especially after taxes. If you have a wife who isn't working or doesn't pull in much and kids to support, you don't have all that much left over.

And there isn't much an accountant can do to help you there, except using tax shelters which are becoming or already have been illegal. And i guess there's always tax evasion, have fun with that.

I'm in education...my principal makes 100k, average teacher makes 40k(where I fall after taxes)...250k a year is plenty. The rich cry when taxes go up but are quick to praise a flat tax? C'mon now. If you can't make 250k float then you're doing something wrong.

Umm you are damn right I am gonna complain I spend 35 yrs of my life excelling in high school, undergrad, med school to make sure I get theresidency of my choice with 250K in debt. your damn right I want to make over 250K and I think I deserve every bit of it. I dont believe I should have to giveover half of it back in taxes oh yea and then factor in malpractice insurance which wont be coming down anytime soon since that would require tort reform andall the lawyers in office would never go for that.

This healthcare plan would begin serious rationing of care and you would not be able to receive all the tests etc that you can now because the govt wouldntapprove and say they are unneeded. What does the government run well without wasting money every which way. I dont want my healthcare run by the government,and they say you can keep your private insurance but they would eventually be pushed out because they cant compete with the govt run plan.

 

[Senoj]

You mad?
And instead of blaming Obama, we should blame Eve for taking the first bite of that damn apple.

 

[utvol23]

Youre damn right Im mad if this stuff goes through I am getting hit with higher taxes and a big drop in pay.

Avg radiologist makes 424K a year. New reimbursements cuts could cut that by 20% and if the healthcare goes through my taxes with be close to 50% of that thenadd on malpractice insurance

http://online.wsj.com/art...ml#articleTabs%3Darticle

 

[lawdog1]

Originally Posted by Joseph Camel Jr

Originally Posted by MexicanSoul

I doubt you'd feel it. You make 250k a year...use your brain and hire a good accountant to keep you right at or slightly above what you're being taxed now.

250,000 a year is not as much as you think, especially after taxes. If you have a wife who isn't working or doesn't pull in much and kids to support, you don't have all that much left over.

And there isn't much an accountant can do to help you there, except using tax shelters which are becoming or already have been illegal. And i guess there's always tax evasion, have fun with that.

I'm living proof of everything you just said. I make a decent income, but between supporting my wife and son, repaying school loans,mortgage, etc., etc., its not like I have a whole lot of disposable income left. I went to a good accountant and there's not much he could do for me toreduce my tax liability. I have my mortgage interest deductions and that's about it.

So, based on my own personal experience, its not as easy to get around high tax obligations as some are making it out to be.

 

[utvol23]

"The problem with socialism is that sooner or later you run out of other people's money."
Margaret Thatcher.

 

[kix4kix]

Originally Posted by UTVOL23

"The problem with socialism is that sooner or later you run out of other people's money."
Margaret Thatcher.

no you just make up more money that doesn't exist which we seem to be very good at.

 

[crank lucas]

Originally Posted by HOVKid

RealTalk: Your MY President Wants To Raise My Taxes to Close to 60%

respect your superiors son

 

[mexicansoul]

Originally Posted by UTVOL23

Umm you are damn right I am gonna complain I spend 35 yrs of my life excelling in high school, undergrad, med school to make sure I get the residency of my choice with 250K in debt. your damn right I want to make over 250K and I think I deserve every bit of it. I dont believe I should have to give over half of it back in taxes oh yea and then factor in malpractice insurance which wont be coming down anytime soon since that would require tort reform and all the lawyers in office would never go for that.

This healthcare plan would begin serious rationing of care and you would not be able to receive all the tests etc that you can now because the govt wouldnt approve and say they are unneeded. What does the government run well without wasting money every which way. I dont want my healthcare run by the government, and they say you can keep your private insurance but they would eventually be pushed out because they cant compete with the govt run plan.

cry me a river. You chose your profession for the wrong choice it appears by wanting 250k a year or "deserving"...who said you "deserve"250k just because you spent 250k for education? People get rich off the poor..been like that since day once and it will continue to be like until the earthceases to exist.

This topic goes both ways. You're complaining now but why didnt you make There was never a thread about Real Talk:Bush wants to lower mytaxes.

Originally Posted by lawdog1

I'm living proof of everything you just said. I make a decent income, but between supporting my wife and son, repaying school loans, mortgage, etc., etc., its not like I have a whole lot of disposable income left. I went to a good accountant and there's not much he could do for me to reduce my tax liability. I have my mortgage interest deductions and that's about it.

So, based on my own personal experience, its not as easy to get around high tax obligations as some are making it out to be.

in situations like this...make your wife work. I understand and praise...hell...highly respect the fact you're supporting yours but don'tkill yourself to be the sole bread winner.

 

[rexanglorum]

UTVOL23 wrote:

---

"The problem with socialism is that sooner or later you run out of other people's money."
Margaret Thatcher.
I also thought that was the pithiest description of how socialism (classical socialism with the government being the owner of most or all of themeans of production, not the French or Swedish brand of redistribution) tends to falter. Mentioning money does sacrifice accuracy though. It would be moreaccurate to say that eventually you can only support government undertakings for so long until you exhaust the private wealth that supports it.


To be fair to Obama, he is proposing a 60% tax rate, a lot of that is going to New York State and New York City. You guys in NYC and NY State should startmoving and it will curtail the City and State's willingness to raise taxes. You guys in the North East can leave the state without going very far, livingin high tax California, if we moved out of the State, we would be out in the middle of no where but in NYC you guys can see at least two different States fromthe City.

 

[wawaweewa]

This thread perfectly illustrates the state of America today.
This is class warfare. The oldest trick in tyrannical rule. Distract the peasants and they won't pay attention to those that they really need to go after;the politicians.

This is also one of the shortcoming's of democracy (even within a republic). Mob rule takes over. "Get them rich white people'smoney!"