Got my tax stimulus money Options

[GEORGE]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

[Googie]

[hegemony]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

you don't following fiscal policy changes in the past decade much...

[athensgaguy]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

I'm poor, and my payroll taxes are about the same % that someone with $5 million regular income would pay, and far higher % than someone who makes $5 million through capital gains.

[Nikki Nue]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

I'm poor, and my payroll taxes are about the same % that someone with $5 million regular income would pay, and far higher % than someone who makes $5 million through capital gains.

If you are in the highest tax bracket, I highly doubt you are considered, by standard means, "poor."

[athensgaguy]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

I'm poor, and my payroll taxes are about the same % that someone with $5 million regular income would pay, and far higher % than someone who makes $5 million through capital gains.

If you are in the highest tax bracket, I highly doubt you are considered, by standard means, "poor."

The highest tax bracket doesn't pay Social Security taxes above about $100K in income. I pay it on all of mine.

[hegemony]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

I'm poor, and my payroll taxes are about the same % that someone with $5 million regular income would pay, and far higher % than someone who makes $5 million through capital gains.

If you are in the highest tax bracket, I highly doubt you are considered, by standard means, "poor."

The highest tax bracket doesn't pay Social Security taxes above about $100K in income. I pay it on all of mine.

the second highest does not pay 100% either...

and I pay ZERO into social security

[Nikki Nue]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

I'm poor, and my payroll taxes are about the same % that someone with $5 million regular income would pay, and far higher % than someone who makes $5 million through capital gains.

If you are in the highest tax bracket, I highly doubt you are considered, by standard means, "poor."

The highest tax bracket doesn't pay Social Security taxes above about $100K in income. I pay it on all of mine.

If your income is between ----- you pay
$0 - $8025 10%
$8025-$32550 15%
$32550-$78850 25%
$78850-$164550 28%
$164550-$357700 33%
357700 and up 35%

Mind you, this is for income, not capital gains. That means that the highest tax bracket is for people earning $357,700 and up. This includes people making $5mill in income (as you stated). Therefore, if you pay the same percent as someone making $5mill, you make more than $357,700 and therefore DO NOT pay Social security on all of your income, only the first $95,000.

[athensgaguy]

The highest tax bracket doesn't pay Social Security taxes above about $100K in income. I pay it on all of mine.

If your income is between ----- you pay
$0 - $8025 10%
$8025-$32550 15%
$32550-$78850 25%
$78850-$164550 28%
$164550-$357700 33%
357700 and up 35%

Mind you, this is for income, not capital gains. That means that the highest tax bracket is for people earning $357,700 and up. This includes people making $5mill in income (as you stated). Therefore, if you pay the same percent as someone making $5mill, you make more than $357,700 and therefore DO NOT pay Social security on all of your income, only the first $95,000.

$100K - 34%
$5 mil - 34.82%

Made a serious error in my quick and dirty spreadsheet for last time that inflated both %s

This post has been edited by athensgaguy: Sep 20 2008, 05:32 PM

[Nikki Nue]

The highest tax bracket doesn't pay Social Security taxes above about $100K in income. I pay it on all of mine.

If your income is between ----- you pay
$0 - $8025 10%
$8025-$32550 15%
$32550-$78850 25%
$78850-$164550 28%
$164550-$357700 33%
357700 and up 35%

Mind you, this is for income, not capital gains. That means that the highest tax bracket is for people earning $357,700 and up. This includes people making $5mill in income (as you stated). Therefore, if you pay the same percent as someone making $5mill, you make more than $357,700 and therefore DO NOT pay Social security on all of your income, only the first $95,000.

$100K - 34%
$5 mil - 34.82%

Made a serious error in my quick and dirty spreadsheet for last time that inflated both %s

The standard income tax for $100,000 would be 28%. The standard income tax for $5million would be 35%. I should specify that this is for "single" designation. Either way, $100,00 and $5million do not pay the same percentage in taxes. Not if both are standard income taxes.

[athensgaguy]

The standard income tax for $100,000 would be 28%. The standard income tax for $5million would be 35%. I should specify that this is for "single" designation. Either way, $100,00 and $5million do not pay the same percentage in taxes. Not if both are standard income taxes.

Taxes are marginal!

So at $100K, income taxes are a much lower percentage (much less than 28% even, ~22%). If you show me how to opt out of FICA and Social Security, then I won't count them in my payroll taxes to the fed. Until then, they are just shifty income taxes since they're based on income up to a max of $102K.

34.63% with fed payroll, 21.98% just income

The 5M person is 34.8% with all fed and 34.7% with just fed income.

See the huge difference SS/FICA and its cutoff make in tax output for middle class?

It makes the comparison unfair if you don't include SS and FICA.

Ignoring most of the taxes is how people claim we have lower taxes than other countries. They only include federal income tax, and neglect to mention FICA/SS, state income taxes, state sales taxes, import tariffs, local sales taxes, property taxes, and excise taxes. If you take all of those into consideration, the typical middle class person spends well over 50% of their income towards taxes.

[Nikki Nue]

Since you seem incapable of separating the two arguments I will end it with this: SS and Medicare do not go to the general budget and therefore are not included in your tax bracket. Therefore when people talk about how much income taxes they pay, they do not include SS and Medicare.

Either way, making $100,000 a year does not make you poor.


Edited for some serious spelling issues...sorry folks!

This post has been edited by Nikki Nue: Sep 20 2008, 08:09 PM

[GEORGE]

Seems like a person who makes less should get more than a person who makes more per year, but I guess the poor will stay poor lol.

No comment.

+1


added to say the rich arent getting a dime of the rebates over 75k income or 150k married

You consider people rich ( husband and wife) working making 150,000? Did you know that the successful people in this country(you would call them rich) pay 93 % of taxes. So hardworking successful people get taxed more while lazy people pay less. No wonder it'so adventagious to sit around doing nothing.

I hear some fools think middle class is when you make 5 million dollars a year...

AFTER THEY TAX THE RICH TO GIVE TO THE POOR...maybe $5,000,000 is not that much

you don't following fiscal policy changes in the past decade much...

Top 50% of Wage Earners Pay 96.03% of Income Taxes

[athensgaguy]

Since you seem incapable of separating the two arguments I will end it with this: SS and Medicare do not go to the general budget and therefore are not included in your tax bracket. Therefore when people talk about how much income taxes they pay, they do not include SS and Medicare.

Either way, making $100,000 a year does not make you poor.


Edited for some serious spelling issues...sorry folks!

The new line is $5 Million didn't you hear?

I don't get to choose where SS and FICA go, and they're based on income, so they are income taxes. You can say that an income tax isn't an income tax, but a tax that is based on income is an income tax.

And, like I said, the only way you can make the rich look like they pay a higher percentage of taxes is to not count all the taxes everybody else pays.

[baller4ever85]

im still waiting on my stimulus check filed back the first week of april.

[athensgaguy]

im still waiting on my stimulus check filed back the first week of april.

Was there a mistake with your mailing?

[Nikki Nue]

Since you seem incapable of separating the two arguments I will end it with this: SS and Medicare do not go to the general budget and therefore are not included in your tax bracket. Therefore when people talk about how much income taxes they pay, they do not include SS and Medicare.

Either way, making $100,000 a year does not make you poor.


Edited for some serious spelling issues...sorry folks!

The new line is $5 Million didn't you hear?

I don't get to choose where SS and FICA go, and they're based on income, so they are income taxes. You can say that an income tax isn't an income tax, but a tax that is based on income is an income tax.

And, like I said, the only way you can make the rich look like they pay a higher percentage of taxes is to not count all the taxes everybody else pays.

I think that you think I am arguing something I am not.

I think that the wealthy, and the poor should all pay the same percent. But I don't think that should include SS and Medicare. Why? Because the wealthy are highly unlikely to use those benefits. Therefore the people who will use them, should pay for them. And while you cannot decide where those funds go, they do go to a dedicated fund unlike income taxes that go to the general fund and are used for things like homeland security, parks and schools.

Taxes will never be fair and everyone will always feel like they are getting screwed (because we usually are), but in the end, they are necessary. What would be nice is to see a flat tax. Everyone pays x percent. You make $10, you pay X percent (regardless of if that is income or capital gains). You make $10million, you pay the same X percent (regardless of if that is income or capital gains). No tax breaks, no write offs, no refunds. Nothing. Pay it. It would probably be pretty low. And then the wealthy would complain they were paying a higher $$ amount and the poor would complain it was too much still.

Never ends.