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Started By
Message
My son texting me after doing his taxes, maybe I’m a cynic?
Posted on 2/17/23 at 9:30 am
Posted on 2/17/23 at 9:30 am
son: So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
Dad: Yep you got it, that’s how they keep us down, the more you make, the more you strive to lift yourself, the more they penalize your success and try to dishearten you, and that is no hyperbole
Dad: Yep you got it, that’s how they keep us down, the more you make, the more you strive to lift yourself, the more they penalize your success and try to dishearten you, and that is no hyperbole
26
Posted on 2/17/23 at 9:33 am to Padme
quote:
the more you make, the more you strive to lift yourself, the more they penalize your success and try to dishearten you, and that is no hyperbole
Until you break through to big money. After that your taxes go way down.
Posted on 2/17/23 at 9:37 am to Penrod
quote:Yes. Billionaires pay less in taxes than school teachers. Biden said it, so it must be true.
Until you break through to big money. After that your taxes go way down.
/sarcasm
Posted on 2/17/23 at 9:39 am to Padme
quote:
So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
Still comes out ahead on this math.
But generally speaking, yea…
Posted on 2/17/23 at 9:43 am to Padme
I had no idea the marginal tax rate from 44k to 68k was 50%.
This post was edited on 2/17/23 at 9:44 am
Posted on 2/17/23 at 9:45 am to Padme
You son should’ve paid more attention in math class
Posted on 2/17/23 at 9:48 am to Penrod
quote:Define "big money".
Until you break through to big money. After that your taxes go way down
Regardless, if everyone could treat their "vocation" to a group of tax attorneys and an accounting firm in order to utilize tax laws to their favor, tax laws would change.
They write these 4000 page documented tax laws to prevent flying too high by the masses.
Posted on 2/17/23 at 9:49 am to Penrod
quote:
Until you break through to big money. After that your taxes go way down.
I'm all for the big companies being incentivized to do business here. I just hate how much they take from the worker ants like us. We once beat a king's arse for that.
Posted on 2/17/23 at 9:59 am to Padme
quote:
Yep you got it, that’s how they keep us down, the more you make, the more you strive to lift yourself, the more they penalize your success and try to dishearten you, and that is no hyperbole
That’s the same victim mentality we abhor on the left, yes? And it’s not true, either.
Salary is very tax unfavorable. You and your son need to learn the tax code and put your money to work in more tax-friendly forms of income (rentals, for example).
The tax code rewards those who create jobs and create net-goods for society.
This post was edited on 2/17/23 at 10:00 am
Posted on 2/17/23 at 10:02 am to Sev09
Note to self: behave properly
Got it, thx
Got it, thx
Posted on 2/17/23 at 10:04 am to Padme
Biden : “Mark my word. If you are making less than $400,000 you won’t pay a penny more in taxes”.
Then why am I paying this year compared to getting a refund last year?
This administration is the biggest crooks and liars we ever had.
Then why am I paying this year compared to getting a refund last year?
This administration is the biggest crooks and liars we ever had.
Posted on 2/17/23 at 10:08 am to Padme
quote:
they only took 4K when I made 44k but made 68 k and they keeping 15k
Federal alone or total? 15k is about right for federal, state, SS, Med combined on 68 but 4k is low for 44k.
44k should be about 3,400 federal, 1500-2000 state depending on what state, 2700 for SS and 650 for med.
Posted on 2/17/23 at 10:19 am to Penrod
quote:
Until you break through to big money. After that your taxes go way down.
^^ and we have a mouth breathing parroting dumbass.
Posted on 2/17/23 at 10:32 am to Padme
That’s why the truly wealthy ppl work for themselves.
Posted on 2/17/23 at 10:35 am to Sev09
quote:
Salary is very tax unfavorable. You and your son need to learn the tax code and put your money to work in more tax-friendly forms of income (rentals, for example).
Orrrrrrr
Our government can stop spending foolishly. Stop sending billions of dollars to ukraine. Stop funding all this climate change bullshite. Stop funding for gender equality research in other parts of the world. I could go on and on….
Posted on 2/17/23 at 10:38 am to HubbaBubba
quote:
laws would change.
Force everyone to write a check quarterly instead of most people having a blind withholding tax and there would be pitchforks and torches outside The Capitol.
Posted on 2/17/23 at 10:40 am to Padme
I wish I could take the same tax deductions on my personal expenses as corporations get to for theirs. Only difference is generating revenue through W-2.
Gotta Schedule C and Schedule E as much as possible to get effective rate down.
Gotta Schedule C and Schedule E as much as possible to get effective rate down.
Posted on 2/17/23 at 10:40 am to Padme
quote:
son: So essentially I’m not making more money cuz they only took 4K when I made 44k but made 68 k and they keeping 15k
Well your son is bad at math as he is still making $13K more but ok
Posted on 2/17/23 at 10:42 am to Padme
That’s why ever American citizen needs to only agree to work as a 1099 employee!
Posted on 2/17/23 at 10:42 am to Sp0728
quote:
Then why am I paying this year compared to getting a refund last year?
Because tax breaks for covid expired
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