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When I heard about some potential legislation to place more tax burden on single people without kids recently, I flipped my lid. The US tax system is so unfairly balanced right now, and it is pushing me out of the middle class into poverty.
Almost 1/4 of my gross incomes goes directly to state and federal taxes. And I only make 43K. My net take home ends up being 30K. The system punishes my demographic because we are single with no kids. My GF made close to 100K last year, and she was taxed nearly 25K. Again, 1/4 of the income.
Maybe the government looks at it that we are getting to keep three fourths of our hard earned money without dealing with the expenses of kids. Screw that. A married couple has the benefit of a dual income. They are the ones I see with the nice houses, the garages full of stuff. I am in my 40s, and can't afford a house. I've never owned a lawnmower because I've never had my own yard.
Yes, kids are expensive, but I believe a dual income more than makes up for that especially with all the tax breaks. But the government wants to take more away from me to help familes? Why should I be punished because I was a responsible adult and didn't engage in risky behavior or poor parenting? I have a friend on FB who has a new kid every year. He now has 7 kids. He was bragging about his big tax refund and how his family would get to enjoy a nice cruise. Does he really deserve a break and not me?
I'm all for everyone paying their fair share. So if I have to fork over 25% then everyone should have to do the same.
Well Jeff, let me spell it out for you.
Whenever a politician is giving you the shaft it's because they know they can get away with it where it matters....the polls.
Single people tend to be younger and vote less and also tend to vote for the political party whose message is that higher taxes aren't a bad thing, they just help provide more needed services etc.
They sure aren't going to raise taxes or cut benefits on older people unless it's a very very far distant phase in because AARP would kick their butts.
Lastly, are you including SS in your numbers? Seems like at your income level you would have to and even then I'm not sure how you are getting to almost 11k in taxes unless you are including things like sales tax etc. as well.
Wait until the single people find out they can't afford Obamacare.
Ha!!!
Despite my tax burden.. I'm currently able to save roughly 25% of income. Anyone making over $40K that is single has no right to complain about "not affording" anything. They need to take a long hard look at themselves.
You have to start thinking like a one-percenter! Since the Supreme court declared that corporations are people, I've decided to anticipate their next move and treat myself like a corporation!
Buy a new car - treat it as a business or medical expense! It's my "little rascal" available to little or no expense to you just like that stupid TV commercial! A deduction
Food - now there's a medical expense. If you don't eat you die! Just like insulin to a diabetic. A deduction
Cable TV - keeps my mental health in balance, without it, I'd get depressed and might need Cymbalta or some even pricier anti-depressant. A deduction!
Now I just have to get the dog and cat an SS card! EIC credit here I come!
Just do your taxes with a new attitude and you'll save big!
Government uses the tax code to manipulate people into doing what they want. Maybe rewarding irresponsible breeding is exactly what the democrats want. More people living in poverty, more democratic voters.
Yes and the welfare class wasn't being irresponsible enough so now the liberals are importing government dependents from other countries with higher birth rates than the Americans.
The problem is that liberals really believe a dwindling number if taxpayers can keep getting more taxes and all will be great, they believe in no limits for how high welfare dependency can go.
earn 43k
std ded 6100
personal exemption 3900
total taxable income 33k
tax...on 33k BEFORE any write offs 4500
if you had any contrabutions to a 401k, pesion etc.....writeoff
most states income taxes range from 2% to 8% with a dozen states having ZERO income tax...and hawaii, cali and NJ having the HIGHEST tax at the top bracket of 12/11/9%
most people making 45k or less pay nearly zero in taxes
You are assuming write offs, most in that wage class have none. tax - 4500 state tax another 1k or so, 5500. Forget how much Obamacare costs in insurance increases and all the other living expenses a single person pays on their own. They can't afford to contribute to pension plans.
You are assuming write offs, most in that wage class have none. tax - 4500 state tax another 1k or so, 5500. Forget how much Obamacare costs in insurance increases and all the other living expenses a single person pays on their own. They can't afford to contribute to pension plans.
That is a lie. I contributed over 20% of my gross income to my 401k and Roth IRA and I make the same as the OP. I also live in one of the highest taxed states (New York).
Sounds like a lot of cons AND liberals I know. I mean, who doesn't want their kid to have a work ethic and make good decisions in life?
Additionally, if you don't want to hear peoples opinions on "work ethic" and making good decisions.....then don't have your hand out for aid.
If you don't want to hear a sermon then don't go to church.
Work ethic is fine, obviously. My point was that "work ethic" and "responsibility" has no merit in public policy. Public policy is about fairness of opportunity and efficiency of resources. It is not meant to "reward" or "punish" folks. Leave that to your own family. Keep it out of government.
You have to start thinking like a one-percenter! Since the Supreme court declared that corporations are people, I've decided to anticipate their next move and treat myself like a corporation!
Buy a new car - treat it as a business or medical expense! It's my "little rascal" available to little or no expense to you just like that stupid TV commercial! A deduction
Food - now there's a medical expense. If you don't eat you die! Just like insulin to a diabetic. A deduction
Cable TV - keeps my mental health in balance, without it, I'd get depressed and might need Cymbalta or some even pricier anti-depressant. A deduction!
Now I just have to get the dog and cat an SS card! EIC credit here I come!
Just do your taxes with a new attitude and you'll save big!
I hope you are not actually taking these deductions.
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Think like a 1%er!
