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That, along with the fact that the source DID NOT include the employer provided benefits the $60k family enjoy, like HEALTH CARE INSURANCE!!!!. DUH.
Since when is employer healthcare benefits free?
I pay $500 a month,sounds free to you?
Plus,people on Medicaid don't pay co-pays.
So yeah,they can just show up at a doctors office with no money.
Me,I better have co-pays for the doctor,pay for the labwork.
So all in all a cost to the doctor for one day is about $100 out of pocket expense.
My mistake. I grossed $97,000.
Stupid me for working 2 full time jobs,busting my arse. Who did I think I was?
How does the goverment figure this stuff out. Punish me for working harder,why? I'm comparing my HOH and 3 dependants with the family of 4. Its 17,000 for this year,just ask my tax preparer.
Unless I'm not understanding your post your numbers still don't jive with the tax table.
Gross Income $97,000
- $8,500 (HOH Standard Deduction) - $14,800 (Total Exemptions, $3700X4)
Taxable Income $73,700
If you filed head of household, using my calculations you should have paid $13,199. If you actually paid $17,000 then you need to find a new tax preparer.
Since when is employer healthcare benefits free?
I pay $500 a month,sounds free to you?
Plus,people on Medicaid don't pay co-pays.
So yeah,they can just show up at a doctors office with no money.
Me,I better have co-pays for the doctor,pay for the labwork.
So all in all a cost to the doctor for one day is about $100 out of pocket expense.
What about the portion your employer pays? If you're paying $500 her is probably paying at least that much. In that case it is added income just as the Blogger added the Medicaid benefit, so should your employer paid benefits.
By the way, you're wrong on Medicaid recipients getting a 100% free ride. Medicaid providers can require co pays and Medicaid can require payments for coverage (premiums), some state do and some state don't.
Finally, the dollar amount attribute to the low income groups in the example are completely arbitrary and are not disposable income. Someone on Medicaid that doesn't visit a doctor, costing medicaid ZERO, is no better off than someone that sees a doctor every week.
Last edited by buzzards27; 03-05-2012 at 07:45 AM..
Unless I'm not understanding your post your numbers still don't jive with the tax table.
Gross Income $97,000
- $8,500 (HOH Standard Deduction) - $14,800 (Total Exemptions, $3700X4)
Taxable Income $73,700
If you filed head of household, using my calculations you should have paid $13,199. If you actually paid $17,000 then you need to find a new tax preparer.
Me thinks someone is lying to you. Unless one of Jerseygal's "full time jobs" is to post nonsense here. 80 hours a week, plus the travel time and preparation time for work leaves little time for posting here, much less taking care of a family and a household. FYI, filing HOH implies a single parent with 3 kids.
Busting your arse on a job doesn't usually involve spending your day on the boss's computer posting here.
Where are the child care considerations in her inventive tax return? Isn't child care expenses given a credit for families with kids at these Income level?
Except with all those programs there is zero to little money in your pocket to do anything. While the guy making 60k a year gets a "raw" deal in certain aspects he still has money to go out and live a decent "modern society life."
I am hoping that throughout this long thread, which is a repeat as I remember a thread concerning this very topic a few months ago, it was stated that this article by Emmerich has been debunked.
He is writing about MS and in MS the person making minimum wage wouldn't even qualify for medicaid, the kids would, but not the adult.
Also like others have pointed out, medicaid is not disposable income. My husband pays about $400 a month for our health insurance but his employer pays about $600 a month for our health insurance. We don't see that extra $600. We both also have a 401K and put in the max amount to get all the matching we can from our employers. We get about 10K per year in matches as we contribute the same amount per year from our incomes, we don't see all that money and won't until we retire and we are both in our 30s so it will be a long time (if ever the way things are going). I could go on with the benefits we get, my husband as an individual gets his healthcare for free, paid for by the company. I also use an FSA for dependent care benefits for my daughters daycare. I also use an HSA for healthcare co-pays and dental work.
But regardless, the article is false. Someone making so little doesn't have as much disposable income as a family making 60K unless they have a sugar daddy/momma on the side (which could potentially be happening).
Yep, this BS thread has been rebuked repeatedly...
Blogger made stuff up and it is a lie.
1) the tax calculation is bogus. Someone making $60k does NOT pay 22.5% of their income in federal taxes. Their EFFECTIVE TAX RATE for that income level would be 7% to 9% at worst. IN OTHER WORDS THE BLOGGER GROSSLY OVERSTATED THEIR TAX LIABILITY. $3701 is their federal tax, they would NOT pay to the bogus amount of $13,500.
2) Tax tables that show a higher combined effective rate INCLUDE THE EMPLOYERS' SHARE OF PAYROLL TAXES. To include that as a payment it needs to be included as income on the top line.
3) Blogger failed to include the employer provided health care insurance as a in kind benefit. Including health care for one family while ignoring another flaws any results.
4) Including $16,500 in POTENTIAL health care benefit as disposable income is highly flawed on many levels. One, no assurance low income earners will use that arbitrary benefit amount, if any. Two, it is NOT DISPOSABLE INCOME.
5) Blogger failed to include in kind and employee benefits that $60k family enjoy. Possible child care/day care center, 401k benefits, health care.....
6) Blogger over stated SNAP (food stamps) benefits by $108 a month possibly more depending on Mississippi policies.
Quote:
Originally Posted by residinghere2007
I am hoping that throughout this long thread, which is a repeat as I remember a thread concerning this very topic a few months ago, it was stated that this article by Emmerich has been debunked.
He is writing about MS and in MS the person making minimum wage wouldn't even qualify for medicaid, the kids would, but not the adult.
Also like others have pointed out, medicaid is not disposable income. My husband pays about $400 a month for our health insurance but his employer pays about $600 a month for our health insurance. We don't see that extra $600. We both also have a 401K and put in the max amount to get all the matching we can from our employers. We get about 10K per year in matches as we contribute the same amount per year from our incomes, we don't see all that money and won't until we retire and we are both in our 30s so it will be a long time (if ever the way things are going). I could go on with the benefits we get, my husband as an individual gets his healthcare for free, paid for by the company. I also use an FSA for dependent care benefits for my daughters daycare. I also use an HSA for healthcare co-pays and dental work.
But regardless, the article is false. Someone making so little doesn't have as much disposable income as a family making 60K unless they have a sugar daddy/momma on the side (which could potentially be happening).
Last edited by buzzards27; 03-05-2012 at 10:01 AM..
Me thinks someone is lying to you. Unless one of Jerseygal's "full time jobs" is to post nonsense here. 80 hours a week, plus the travel time and preparation time for work leaves little time for posting here, much less taking care of a family and a household. FYI, filing HOH implies a single parent with 3 kids.
Busting your arse on a job doesn't usually involve spending your day on the boss's computer posting here.
Where are the child care considerations in her inventive tax return? Isn't child care expenses given a credit for families with kids at these Income level?
Well I didn't bother to calculate those credits because I don't know if her dependents are eligible. If her dependents qualify then she could receive a $1,900 child tax credit and a $600 child care credit per child. With these credits she could reduce her taxes to something closer to $10,000. The exact figures would differ of course depending on the age of her dependents, but needless to say there's no way she would have paid $17,000.
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