joshcryer
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Fri Oct-15-04 08:10 AM
Original message |
Kerry tax cuts: if you make 201k, do you get taxed... |
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...much worse than if you made 200k? In other words, if you make more than 200k, but not that much more, in the end you'd be worse off than if you made less than 200k?
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JuniorPlankton
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Fri Oct-15-04 08:11 AM
Response to Original message |
1. The difference will only be in the last thousand |
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The first $200K will remain the same. this is how the tax brackets work.
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joshcryer
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Fri Oct-15-04 08:12 AM
Response to Reply #1 |
2. Ahh, that makes sense and is fair. Thanks for the answer. |
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And sorry if this was in the wrong forum.
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ladjf
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Fri Oct-15-04 08:51 AM
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3. The big question is did Kerry mean $200K taxable income |
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or gross income. If taxable income, the gross income could have been 250K or more before deductions. If that has been clarified, I haven't heard it.
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Misunderestimator
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Fri Oct-15-04 08:53 AM
Response to Reply #3 |
4. I was curious about the same thing... I think it HAS to be net income. |
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Otherwise Schedule Cs where you make $250,000 on a business, but have only $50,000 profit would be unfairly taxed. I'm sure it's net.
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ladjf
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Fri Oct-15-04 11:01 AM
Response to Reply #4 |
10. If so, Kerry should promptly clarify that. |
Misunderestimator
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Fri Oct-15-04 11:13 AM
Response to Reply #10 |
11. Oh, and I should clarify, I really meant taxable gross when you file |
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your taxes, and not net pay. *doi*
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IIgnoreNobody
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Fri Oct-15-04 11:18 AM
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13. We only tax 'taxable' income in the United States. |
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That's why it's called taxable income.
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ladjf
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Fri Oct-15-04 11:36 AM
Response to Reply #13 |
14. Line 25 Federal Tax 1040 form "taxable income" |
Bandit
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Fri Oct-15-04 08:56 AM
Response to Original message |
5. You get taxed the same as in 2000 and through the ninties |
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You know when America was getting it's financial house in order.
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AP
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Fri Oct-15-04 09:07 AM
Response to Original message |
6. The difference in taxes for someone earning 201,000 is about 150 dollars. |
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Isn't the difference only 1.5% on the top rate?
It's not 201,000 dollar earners who will see their tax bill change by a great deal. It's 1,000,000 earners and 100,000,000 earners.
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AP
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Fri Oct-15-04 10:14 AM
Response to Reply #6 |
9. I should note that even though the 201,000 earner only sees her... |
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...tax bill increase by only 150 bucks, she's still paying a marginal rate which makes her burden on the additional dollar greater than the 100 million earner.
Ie, it's ridiciculous to me that a 201,000 earner and 10,000,000 earner will pay exactly the same taxes on an additional dollar.
However, in absolute dollar terms, the 201,000 earners isn't seeing a huge jump in her total tax bill if Kerry's tax bill passes.
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BiggJawn
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Fri Oct-15-04 09:14 AM
Response to Original message |
7. Let me check with my Accountant... |
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That was quick. He said, and I quote: "What the fuck do YOU care? You're a LONG way from ever having to worry about that..."
My question is: If you're making 201 kilobucks, would you actually NOTICE the increased taxes over 200 kilobucks?
"How can a man who's warm understand a man who's cold?"-Ivan Denisovich
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trumad
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Fri Oct-15-04 09:18 AM
Response to Reply #7 |
8. I'm fortunate enough to have a family member |
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who makes those kind of Benjmains. She tells me that the difference is nominal and that she can live with it....
Her average bi weekly check is 12 grand and Uncle Sam takes almost half leaving her with 6 or 7 grand take home. That's a lot but I still wince at how much they take.
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The Chronicler
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Fri Oct-15-04 11:14 AM
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12. I wish I had to worry about it |
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200K a year is a shitload of money. A great number of people who make that have accountants etc and loopholes out the ass anyway.
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DU
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Fri Apr 26th 2024, 06:21 PM
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