A great disappointment (lease, credit, employment)

[rmcewan]

Originally Posted by sgthoskins

There is no 18K deduction in fed when I was assuming it was a NH resident. You're still justifying the inflated federal percentage to higher incomes. The 35% is going to 39.5% once Obama gets his tax plan in place.

For someone who works hard and is self employed how can you defend the very highly inflated fed tax structure?

As he stated, he won't be making 250K in NH.

I am not defending any tax policies. I am pointing our flaws in calculations and asking why anybody would think they're sticking it to the feds by moving state.
I'm just not personally opposed, in a time of multiple national crisis (wartime, a massive deficit, and healthcare) to maintain or somewhat increase my contribution - as long as it is spent wisely and directly on the solutions.

Struggling is having trouble putting food on the table, or paying your rent. Struggling is not having to settle for an appt in midtown, or having to decide between the cruise or the Euro ski trip.

[sgthoskins]

That is the problem rmcewan, many like me believe we are paying more than our fair share and nobody in the .gov can make an un-biased decision on where the money should go.

[movingover]

Originally Posted by sgthoskins

I love when people who make less say you shouldn't be struggling when you make more than them. Ignorance is bliss.

You do understand that when you make 250K the federal .gov takes 35% off the top right?

So 250K - 87.5 = 162.5K
Then there is social security - 5K = 157.5
Then property taxes - 6K = 151.5K
Then medicare - 3K = 148.5K

So we've effectively cut more than 100K dollars off this salary with taxes that don't include everyone. We are over 40% tax on that salary and Obama wants to add another 4.5% to that bracket. God forbid you sell stock or sell property. That capital gains tax is going to be moved to 28% under Obama's plan. Because hey the .gov deserves your hard earned money right?

Because that's FAIR right rmcewan???????? Justify how having almost 50% of your income taken via tax is fair.

Well said, and just think, where I am now in NY, property tax is $16k for a .10 acre lot and a house with 2200 sq ft. I kid you not.

[movingover]

Originally Posted by rmcewan

Probably worth adding that nobody pays social security on earnings after $102K. That's about 6200K for salaried workers or for us self-employed pukes $12400!!!
Medicare on $250K will be $3600 (or 7200 for Self Emp) but will also reduce due to deductions mentioned above.

And that is about to change, given that the new president has stated (in at least one variation on his many different tax policies) that people will now start paying payroll tax on the amount over 250k, leaving a donut hole in the middle.

[Brave Stranger]

Originally Posted by movingover

Well said, and just think, where I am now in NY, property tax is $16k for a .10 acre lot and a house with 2200 sq ft. I kid you not.

Lol, get out of there A warning though. Once you spend time in NH you might never want to go back to NY !

[movingover]

Originally Posted by sgthoskins

There is no 18K deduction in fed when I was assuming it was a NH resident. You're still justifying the inflated federal percentage to higher incomes. The 35% is going to 39.5% once Obama gets his tax plan in place.

For someone who works hard and is self employed how can you defend the very highly inflated fed tax structure?

Exactly. How can anyone defend increasing taxes when there is not a shred of evidence that Washington does anything but waste it? There is zero accountability and people want to keep on throwing money out the window.

[notdancingqueen]

Bravo rmcewan. You are a breath of fresh air. I tried to rep you but I am in rep jail. We need cool heads and an accurate representation of the facts - not hyperbole and exaggeration.

Jackie

[nicolem]

Originally Posted by movingover

Exactly. How can anyone defend increasing taxes when there is not a shred of evidence that Washington does anything but waste it? There is zero accountability and people want to keep on throwing money out the window.

That is correct. It will be more of our tax dollars to go to exploding entitlement programs, those who pay no taxes, teacup museums, bailing out execs at spas, pork and pet projects. Washington already gets more than enough of our $$-they do not need more. Now they want to steal more from whomever they decided is "rich"? I cannot wait to see how that is defined-because it isn't going to be 250,000-it will be much lower. All that $$ will either be redistributed to those who pay no federal income taxes or to more pork and to pay off lobbyists and buddies from this past election. The appetite of the government is always more not less. The more it is fed-the larger it grows and the more it claims it "needs"-especially with zero accountability.

There is no reason that the federal government needs as much money as it currently needs and it most certainly does not need more. It needs a real budget-like the rest of us- and it needs to cut out A LOT of programs/waste that the government has no business using my $$ for.

[motoracer51]

Originally Posted by nicolem

[/b]

That is correct. It will be more of our tax dollars to go to exploding entitlement programs, those who pay no taxes, teacup museums, bailing out execs at spas, pork and pet projects. Washington already gets more than enough of our $$-they do not need more. Now they want to steal more from whomever they decided is "rich"? I cannot wait to see how that is defined-because it isn't going to be 250,000-it will be much lower. All that $$ will either be redistributed to those who pay no federal income taxes or to more pork and to pay off lobbyists and buddies from this past election. The appetite of the government is always more not less. The more it is fed-the larger it grows and the more it claims it "needs"-especially with zero accountability.

There is no reason that the federal government needs as much money as it currently needs and it most certainly does not need more. It needs a real budget-like the rest of us- and it needs to cut out A LOT of programs/waste that the government has no business using my $$ for.

Hopefully Bush doesn't give in and bail out the auto industry. Let them fail, and let it be an example of union greed.

[sgthoskins]

Originally Posted by motoracer51

Hopefully Bush doesn't give in and bail out the auto industry. Let them fail, and let it be an example of union greed.

I couldn't agree more.

"Unions, wrecking one American industry at a time"