Wonder why our we can't get good leaders in the U.S. Government?

[ScareCrow57]

I thought the highest bracket was 35% and that's if you make something like $350k or more.

Your math not only stinks, your awareness of the tax code is suspect too...

Well if the only tax I paid was income to the federal government you would be correct. However I also have to pay for the failed SS system, Medicaid, and taxes to one of the most liberal states in the country (NYS). When these governments get done with me I lose 44.8% right off the top.

[ScareCrow57]

I thought the highest bracket was 35% and that's if you make something like $350k or more.

Your math not only stinks, your awareness of the tax code is suspect too...

Typical, Off on another track, can't seem to maintain focus can you.

Here is the thread to refresh your memory.

Has nothing to do with ambition. Has to do with the government taking nearly half (44.8%) of what I worked so hard to get. This while 47% of the people pay no tax at all.

Clearly you know nothing about your subject. Everyone pays taxes in one form or another. You pay the same taxes as eveyone else. If you believe it is so oppressive there is nothing stopping you from moving to another country that taxes one less with an equivalent standard of living. Good luck finding that place. We have a neighborhood here in OC where you would fit nicely. It's called FANTASYLAND.

Your rant on how hard you work is a joke. Eveyone knows it. Even you.

Of course you edited the original post.

However the complaint had to do with losing 44% right off the top for hard work. And obviously you are clueless about the effort required to get a Bachelors Degree or an advanced degree.

As for moving to another country. How about we take this country back to the great country it was before we got the Bad Deal, and the socialist go to one of the many other socialistic governments that have failed. This country was once unique with its capitalism and ability to live the dream. People used to be able to work and make something of themselves. The current direction is making is just like the rest and does not set us apart from the masses. Dragging this country down to the level of others is not the answer.

You are also clueless if you think everyone pays the same taxes. 47% pay no income tax at all. 5% pay 50% of the total tax bill. Even yo with your SS exemption did not pay their fair share.

BTW, What is an "Eveyone" ?

[MarcusKspn]

Scarecrow, is this your site?

http://www.milliondollarhorse.com/

[Acklan]

You are also clueless if you think everyone pays the same taxes. 47% pay no income tax at all. 5% pay 50% of the total tax bill. Even yo with your SS exemption did not pay their fair share.

BTW, What is an "Eveyone" ?

"Eveyone" more than likely means the same as "yo", you mindless twit. If you insist on correcting, at least act like you have an education.

[ChiefKN]

Well if the only tax I paid was income to the federal government you would be correct. However I also have to pay for the failed SS system, Medicaid, and taxes to one of the most liberal states in the country (NYS). When these governments get done with me I lose 44.8% right off the top.

If you are paying 44% TOTAL to governments for taxes then you should fire your accountant.

I'm sure he's taking advantage of you like the bad ol credit car companies were.

[ChiefKN]

Typical, Off on another track, can't seem to maintain focus can you.

What's the matter, upset that you got caught with another gross misrepresentation/fabrication??

Or that you got caught being stupid about money... again.

Every thread you post in has by that very reason gone off topic. Funny, huh?

[ScareCrow57]

Scarecrow, is this your site?

http://www.milliondollarhorse.com/

Nope, but that sure is funny. Thanks for the good laugh.

[ScareCrow57]

If you are paying 44% TOTAL to governments for taxes then you should fire your accountant.

I'm sure he's taking advantage of you like the bad ol credit car companies were.

Tell you what. My last bonus was $1,064 -$106 for 401K - Net Taxable income $958. Taxes withheld $416. Do the math.

[ScareCrow57]

What's the matter, upset that you got caught with another gross misrepresentation/fabrication??

Or that you got caught being stupid about money... again.

Every thread you post in has by that very reason gone off topic. Funny, huh?

I am taking on a professional method of communicating here. I will focus on Constructive comments and not destructive comments. I will also just be ignoring comments that are off message or provide no value to the discussion. I suggest that to give your comments credibility you try the same. When one attacks the messenger and cannot discuss the message it shows they do not understand or comprehend the message and hence they must resort to attacking the messenger.

[scfire86]

However the complaint had to do with losing 44% right off the top for hard work. And obviously you are clueless about the effort required to get a Bachelors Degree or an advanced degree.

Really? Did you pay for the whole thing? You didn't attend a public school or one that receives any type of government funding? I retired from the fire service with 240 units in college credits via continuing education. I didn't have all the required courses to get a degree but I've done a whole lot more than what was required. Apparently you never took courses in basic finance. Otherwise you'd have a better understanding on how to make money work for you instead of the other way around. Hint: Buying things on credit is bad unless it is an appreciating asset.

As for moving to another country. How about we take this country back to the great country it was before we got the Bad Deal, and the socialist go to one of the many other socialistic governments that have failed. This country was once unique with its capitalism and ability to live the dream. People used to be able to work and make something of themselves. The current direction is making is just like the rest and does not set us apart from the masses. Dragging this country down to the level of others is not the answer.

I've traveled to every continent except Antarctica. You only show your ignorance in making this statement. The New Deal saved this country from anarchy. Despite idiotic claims to the contrary by those attempting to revise history. American capitalism wouldn't exist were it not for government. It takes a deep thinker to understand why. Which rules you out. And take our country back from where? It's still here. Like Ronald Reagan I still believe our best days are ahead.

You are also clueless if you think everyone pays the same taxes. 47% pay no income tax at all. 5% pay 50% of the total tax bill. Even yo with your SS exemption did not pay their fair share.

I wasn't referring to income taxes in my post. You are the one that is clueless.

BTW, What is an "Eveyone" ?

Do you really want to go down the road of pointing out typos? Game on.

[scfire86]

Tell you what. My last bonus was $1,064 -$106 for 401K - Net Taxable income $958. Taxes withheld $416. Do the math.

That's because your bonus is taxed at that level.

I think you should stop performing at the bonus level. That'll show 'em.

[ChiefKN]

Tell you what. My last bonus was $1,064 -$106 for 401K - Net Taxable income $958. Taxes withheld $416. Do the math.

Yes and when you get your return it will true out to much less.

[CaptOldTimer]

Crow got a bonus? For What? Pray tell.

[ScareCrow57]

Really? Did you pay for the whole thing? You didn't attend a public school or one that receives any type of government funding? I retired from the fire service with 240 units in college credits via continuing education. I didn't have all the required courses to get a degree but I've done a whole lot more than what was required. Apparently you never took courses in basic finance. Otherwise you'd have a better understanding on how to make money work for you instead of the other way around. Hint: Buying things on credit is bad unless it is an appreciating asset.

Nope, didn't pay for it all. I took advantage of tuition assistance plans offered up by employers. Nope, I didn't take any courses in finance. However, I am currently engaging in one. Also, as I have found through experience and dealing with accountants there are many times when buying on credit is appropriate.

I wasn't referring to income taxes in my post. You are the one that is clueless.

Yes, but you responding to a comment where I specifically spoke to income taxes.

Do you really want to go down the road of pointing out typos? Game on.

LOL!! Couldn't resist You did the same one twice. Of course you missed out on the body language and voice inflections that said that was meant to be humorous. That is what happens with electronic communications, a large part of the message often gets lost or is never transmitted.

[ScareCrow57]

Yes and when you get your return it will true out to much less.

Actually, it doesn't. Last year I had $15,887 withheld from my paycheck. I got a refund of $2708. Part of that is I got a $4,000 credit for tuition and put $100 in a small IRA I have to get interest. that $4,100 was taxed at the 25% rate which means I got an extra $1,025. I also got $200 from the State of NY for being a volunteer fire fighter. Without that extra $1,225 my refund would have been $1,483 combined. Which meant I would have paid $14,404 in total taxes.

Once you break over that $34,000 number in taxable income;,which for me last year was $40,000, you pay the higher tax rate. In NYS the top rate is 6.85% for anything over $20,000.

So what we have is (since taxable income exceeds $34,000)
Federal tax - 25%
State Tax - 6.85%
SS - 6.2%
Medicaid - 1.45%

For a total of 39.5% - Which now begs the question of why are they withholding 44%? WTF!!!! Looks like they are taking an extra 5% from me interest free.

[ScareCrow57]

Crow got a bonus? For What? Pray tell.

Bonuses are given provided you have enough billable hours in the quarter. If you do shoddy work you don't get the billable hours and hence no bonus. Those of us that do excellent work get the billable hours because our services are often requested.

[ScareCrow57]

That's because your bonus is taxed at that level.

I think you should stop performing at the bonus level. That'll show 'em.

LOL - Yes, I guess it would. It is just so frustrating to see a nice raise or bonus that one has earned decreased by 40%. This is why I say it would almost be better to get more time off, or perhaps a better medical plan. Although my plan right now cost me $600 per year with $15 co-pays. It would be difficult to do better.

[Acklan]

Actually, it doesn't. Last year I had $15,887 withheld from my paycheck. I got a refund of $2708. Part of that is I got a $4,000 credit for tuition and put $100 in a small IRA I have to get interest. that $4,100 was taxed at the 25% rate which means I got an extra $1,025. I also got $200 from the State of NY for being a volunteer fire fighter. Without that extra $1,225 my refund would have been $1,483 combined. Which meant I would have paid $14,404 in total taxes.

So you made about $35,000+-?

[ScareCrow57]

So you made about $35,000+-?

Taxable income of $40,000

[scfire86]

Nope, didn't pay for it all. I took advantage of tuition assistance plans offered up by employers. Nope, I didn't take any courses in finance. However, I am currently engaging in one. Also, as I have found through experience and dealing with accountants there are many times when buying on credit is appropriate.

I would agree there are times when buying on credit is appropriate. Depreciating assets is rarely one of them.

Yes, but you responding to a comment where I specifically spoke to income taxes.

I wasn't.

LOL!! Couldn't resist You did the same one twice. Of course you missed out on the body language and voice inflections that said that was meant to be humorous. That is what happens with electronic communications, a large part of the message often gets lost or is never transmitted.

Don't sell yourself short. I laugh hysterically at your posts. Especially the ones that you don't intend to be funny.