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Old 11-07-2017, 11:42 AM
Status: " You’re not getting another penny out of me" (set 2 days ago)
 
19,665 posts, read 20,477,898 times
Reputation: 16354

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Quote:
Originally Posted by loveithateit View Post
You're in the highest tax bracket but are only middle class? Isn't the highest bracket over 400K income.
Nope
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Old 11-07-2017, 11:52 AM
 
14,394 posts, read 11,118,496 times
Reputation: 14163
Quote:
Originally Posted by hotkarl View Post
Nope
Yup (except for married filing separately)

Tax rate Single Head of household
10% $0 to $9,275 $0 to $13,250
15% $9,276 to $37,650 $13,251 to $50,400
25% $37,651 to $91,150 $50,401 to $130,150
28% $91,151 to $190,150 $130,151 to $210,800
33% $190,151 to $413,350 $210,801 to $413,350
35% $413,351 to $415,050 $413,351 to $441,000
39.6% $415,051 or more $441,001 or more

Tax rate Married filing jointly or qualifying widow Married filing separately
10% $0 to $18,550 $0 to $9,275
15% $18,551 to $75,300 $9,276 to $37,650
25% $75,301 to $151,900 $37,651 to $75,950
28% $151,901 to $231,450 $75,951 to $115,725
33% $231,451 to $413,350 $115,726 to $206,675
35% $413,351 to $466,950 $206,676 to $233,475
39.6% $466,951 or more $233,47

To be in the SECOND highest bracket you need to be making $400K or above.
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Old 11-07-2017, 12:12 PM
 
105,919 posts, read 107,880,197 times
Reputation: 79508
Quote:
Originally Posted by hotkarl View Post
Nope
not sure what you think is the highest brackets but if you did not hit 400k you ain't in them
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Old 11-07-2017, 12:19 PM
Status: " You’re not getting another penny out of me" (set 2 days ago)
 
19,665 posts, read 20,477,898 times
Reputation: 16354
Don’t pay attention to that stupid chart. It lies.
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Old 11-07-2017, 12:32 PM
 
105,919 posts, read 107,880,197 times
Reputation: 79508
don't worry , people here never let facts get in the way of a good story .
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Old 11-07-2017, 12:33 PM
 
Location: NY
15,872 posts, read 6,679,748 times
Reputation: 12037
Tax reform could kill Long Island ?

Sorry to inform..... Taxes ,taxes , taxes killed Long Island a long long time ago.

Just ask all the retirees that were once living on Long Island where they are living now.
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Old 11-07-2017, 12:56 PM
 
Location: Tierra del Encanto
1,778 posts, read 1,784,508 times
Reputation: 2380
Quote:
Originally Posted by Mr.Retired View Post
Tax reform could kill Long Island ?

Sorry to inform..... Taxes ,taxes , taxes killed Long Island a long long time ago.

Just ask all the retirees that were once living on Long Island where they are living now.
True, taxes, taxes, taxes degraded LI a long time ago. But thanks to that evil place many LI'ers diss, "the city," r.e. is doing fine. As long as people come here from Bklyn and Queens to buy our houses, LI will remain above water.

LI's prosperity depends heavily on NY's job market. If that declines, LI will take a fatal blow.

Edited to add: I doubt a tax law change would impact the r.e. market all that much. It amounts to just another drip eroding the quality of life here. Or another straw before the camel's back breaks. A region doesn't decline irreparably over any one thing.

Last edited by manekeniko; 11-07-2017 at 01:05 PM..
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Old 11-07-2017, 01:34 PM
 
Location: Nassau County
5,272 posts, read 4,715,195 times
Reputation: 3969
Quote:
Originally Posted by long isle View Post
/\ sad!
Indeed you are.
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Old 11-07-2017, 03:49 PM
 
Location: Kings Park & Jamesport
3,180 posts, read 10,504,082 times
Reputation: 1092
Quote:
Originally Posted by Mr.Retired View Post
Tax reform could kill Long Island ?

Sorry to inform..... Taxes ,taxes , taxes killed Long Island a long long time ago.

Just ask all the retirees that were once living on Long Island where they are living now.
True, but they made enough money on LI to actually retire!
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Old 11-07-2017, 05:25 PM
 
14,394 posts, read 11,118,496 times
Reputation: 14163
Quote:
Originally Posted by manekeniko View Post
True, taxes, taxes, taxes degraded LI a long time ago. But thanks to that evil place many LI'ers diss, "the city," r.e. is doing fine. As long as people come here from Bklyn and Queens to buy our houses, LI will remain above water.

LI's prosperity depends heavily on NY's job market. If that declines, LI will take a fatal blow.
Well said. You can see the trend in service industry % of jobs. LI has the highest in NY State, even more than Westchester.

What is eroding is quality of life. Instead of a 30 minute drive to a job in Hauppauge or Melville, it's now a 60+ minute commute via the LIRR which is subject to delays and cancellations. Plus the expense and stress of it all.

Those who get fed up leave, only to be replaced by people who already commute 30 minutes on the subway and are willing to go a bit further for a backyard.
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