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Old Today, 07:59 AM
 
434 posts, read 131,894 times
Reputation: 558

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It would probably go to pay the higher taxes I would have to pay to give people that 1000 a month.
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Old Today, 08:21 AM
 
19,691 posts, read 17,719,270 times
Reputation: 10803
Buy assault rifles. And lots of ammo.
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Old Today, 08:23 AM
 
Location: the Sticks
9,314 posts, read 2,642,446 times
Reputation: 4962
Quote:
Originally Posted by NorCal77 View Post
If this money was to be shaved off the top 20 S&P and you got $1000/month to do with as you please what would you do with it?
bank it, invest it. do what I could to avoid paying taxes on it.
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Old Today, 08:35 AM
 
504 posts, read 468,465 times
Reputation: 753
Quote:
Originally Posted by workingclasshero View Post
am I getting taxed on it....does it throw me into a higher tax bracket
If you are asking this question, you likely don't understand how taxes work. There is no such thing as being "thrown" into a higher tax bracket. Tax rates are only applied to the portion of your income that falls in that bracket. The portion of your income below that bracket continues to be taxed at exactly the same rate as before you got the extra $1k per month.
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Old Today, 08:43 AM
 
Location: Camberville
12,184 posts, read 16,947,751 times
Reputation: 20107
I would be able to have children. On 80K a year, I cannot currently afford to grow my family without significantly cutting my retirement and other savings rates, to say nothing of giving up my plans of purchasing a home before I turn 40. $1000 a month is less than half of a month of daycare for one infant in my region, but would make the cost more manageable for me.

It would also allow my partner to pay down his law school loans. I don't even count his income in our family budget currently because I expect everything above his car insurance, healthcare costs, and food costs to go toward student loans or retirement.
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Old Today, 09:40 AM
 
528 posts, read 112,465 times
Reputation: 519
Quote:
Originally Posted by NorCal77 View Post
If this money was to be shaved off the top 20 S&P and you got $1000/month to do with as you please what would you do with it?
I'd use it to pay the extra taxes that the government would take from me that they use to give everyone $1000. Because my dividends would probably decrease by at least $1000 if they took that money from the top S&P.
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Old Today, 09:42 AM
 
10,758 posts, read 6,446,911 times
Reputation: 5974
Quote:
Originally Posted by NorCal77 View Post
If this money was to be shaved off the top 20 S&P and you got $1000/month to do with as you please what would you do with it?
Add it to my retirement savings account.
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Old Today, 09:43 AM
 
4,202 posts, read 1,298,934 times
Reputation: 3372
Quote:
Originally Posted by G1.. View Post
.............pay my taxes that went up with trumps new tax cuts!
You were one of the very few that did have an increase or you didn't adjust your taxes and don't realize you paid less tax.

But i don't see how this question is political or controversial.
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Old Today, 09:49 AM
 
Location: SM
25,950 posts, read 10,012,252 times
Reputation: 9985
Quote:
Originally Posted by rjshae View Post
Donate it to charity. I already live comfortably.
That would be insane.

Give it to me.

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Old Today, 09:49 AM
 
Location: Sonoran Desert
29,731 posts, read 40,177,016 times
Reputation: 19123
I would buy drugs and get high.
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