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Payout cap appears to have been lowered to $100K for married, 50K for single.
If you are single/married and make between $75k/$150k and $150k/$400K, you will not escape what will soon be the largest federal income tax increase in history.
Someone has to pay for the COVID wealth redistribution scheme.
Yup. I’m going to start planning for at least a 5% higher income tax to pay for the Grubers.
I am in favor of the stimulus money going out, however it should NOT be dependent upon income. It should go to all tax-paying citizens regardless of income. It doesn't make sense to only stimulate certain income brackets. IMO, if you paid taxes, you should get the full amount.
Yup. I’m going to start planning for at least a 5% higher income tax to pay for the Grubers.
My wife has been unemployed since COVID so we have learned to live fairly lean. That has led to reduced debt and more disposable income. So we are maxing out 401k contributions this year and seeking any other way we can invest pre-tax earnings.
I am 12-15 years away from retirement. Maybe 17 years if I work to 67. Our income will be significantly less in retirement than it currently is now, hopefully lowering our tax burden. I'd rather draw that money in retirement at a lower tax rate than my current rate.
Hmmm. Another ounce of gold or bit of crypto for when the dollar tanks. Which looks to be very soon.
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