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So you have a $70000 year salary, yet your grammar is atrocious. I don't know what you do but I could barely comprehend what you were saying, OP. But it's teh internetzzzzzz.
I took a credit for B-school look into that again. I enjoy watching the exact moment when youngsters begin to realize they are being fleeced. Our resident office liberal was railing against the taxes being deducted from her check after a promotion. I just had to laugh in her face as if her support for Obsma and O'Malley will improve matters.
Quote:
Originally Posted by unseengundam
Since I graduated college and got good job (started at $60K but now paying $70K), it seems like all my tax deductions are almost gone. I am stuck in spot where I earn too much so a lot tax benefits are disappearing. Back when I college student didn't seem like I was getting much tax benefits either since I full tuition scholarship from my private college. I probably need earn less $$$ to benefit or make a ton of money (over $100K) so it wouldn't matter as much.
Here list of cuts I see going away:
-Student loan interest deduction almost gone
-No Tax credit for graduate classes
-Even eduction tax deduction is limited to only $2k (cost over $15K for classes)
-IRA deduction gone
If just seem unfair that like if just make $10k to $15K, less I would getting more tax benefits. I don't why the IRS tax rules seem to hit hard on middle range of income ($65K to $100K) where all deductions starts to disappear. Oh well, unfortunately can't do much expect up the $$$ to IRS!
You have a 70K job right out of college. Count youself lucky and pay the damn taxes. Then you can wonder why Romney pays taxes at a far lower rate on far more income than you.
Yeah. Same thing as saying - Consider yourself lucky there is room in your butthole to be EFFED in the ass.
I feel your pain. My net federal income tax rate is right at 25%.
single, high income, ZERO deductions.
So, get married, have a few kids and by a house.
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