New tax rate

[07 Fatboy]

Right on Danglide!!! Now lets all settle down. We all are going to feel this in some way.
Some more than others, towboattrash34 is just venting and if he gets hit that hard he has the right to vent. I will take a $2800.00 per year hit. Plus take a one percent pay decrease this year. Not happy but waiting for nice weather to vent with my face in the wind at WFO throttle.

[<G Man>]

Originally Posted by YankeeBob

Does this help?

I don't want to get thrown in with Bones here and yes, the image you posted is helpful. This story here is also helpful http://www.huffingtonpost.com/2013/0...n_2394454.html

I am also curious though: $200 / week is about $10000 / year. According to the "average impacts" indicated, this would put his income range at $350,000 to $400,000 to have that kind of tax liability increase.

I kind of have a hard time feeling sorry for someone making that kind of money forking out an extra 10K knowing that the extra 1500 I will have to pay will probably have as big of an impact on my finances.

Don't get me wrong, it sucks to pay more, but we're all in the same boat and I hope this is not hitting the OP unfairly.

[River7sailor]

To be honest. Towboatrash34 said exactly what I've been hearing from most everyone around where I work and live. I know we're supposed to hold the office of the president in high regard... But hearing about Obama's antics so disgust me I just want to puke.

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[towboattrash34]

Originally Posted by YankeeBob

While Tow's expression of his anger and frustration of our leadership could be expressed with a little more tact, his admission of how the new taxes effect him cannot be disputed.

I make 125 to 128,000 a year. Ill show u my paychech and my last years returns. I'm no way rich my pay scale is not even considered middle class. My pay just went down 10,500 a year. Now what about the working mom at the gro store.

[towboattrash34]

And I spend an avg of 9,000.00 a year on medical with my sick wife. Which helped a lot being able to deduct at tax time.

And like I said my deckhand canceled his insurance cause he can't afford it because of this tax. I can show u the email from our office to him. And he has wife and kids.

[towboattrash34]

I don't care what color he is. It's what he has done to America. His actions speeds for its self.

Bush kill Americans for his personal gain. Weapons of mass destruction. Yea right.

My self I don't want pity I'm not broke,poor or Ritch just Pissed.

I have worked my ass off for what I got. I'm gone 9 months out of a year and had to move close to my sisterinlaw so they can help take of my wife while I'm gone.

I started as as a deckhand and scratched and clawed my way up to Captain. Been out here 24yrs. I've earned what I make. If some one can't climb the ladder that's their problem.

[BOUTYM]

Originally Posted by Michael Psycle

When someone starts a post by saying "F-K that Muslim President", I don't expect the rest of the post to be any more accurate. I have not read any of his previous posts but based on this, towboattrash34 has no credibility with me. I would not trust anything he said.

Hey Mike... just curious. If you were crossing the street and I was standing there and saw a big ass bus getting ready to run you over, would you consider my credibility to be sh!t if I yelled "HEY YOU DUMB FUK... WATCH OUT!!!"

[DJW]

Be glad you're not self employed:

According to Ari Fleischer:

"If you're self-employed and live in a high tax state (think NY and CA) your new combined federal/state top rate is about 60%."

That's due to the fact that as an employee your SS tax is matched by your employer. Self employed pay both sides of the ledger.

I suspect that, plus the increase in med-bills this year, will put me out of business by the end of the year.

But as Hillary Clinton once said:

"I can't be responsible for every undercapitalized entrepreneur in ... small businesses to cover employees,"

I'm sure my soon to be unemployed workers will be glad to hear that.

[guydoc77]

For those who have suggested that someone making a certain income and now paying a certain amount more in taxes, and that, somehow, being ok: I have to ask, what part of the fact that, whether it's $500 or $1500 or $15,000, that money is now going to the government and won't be spent by the tax payer in the private sector economy is so hard to see? For example, since this is a motorcycle forum, I won't be upgrading my engine this year, or anything else, for that matter. You might say something like, "well you don't NEED to", or " you have had it too good for too long anyway". Nonetheless, collectively, those types of consumer decisions that result in the consumer NOT spending the $$$$ in the economy because they are now giving it to the government are exactly why tax increases always hurt the economy in the long run. It amazes me that this simple economic principle is so elusive for some.

[JHall573]

Does anyone realize right now we have the lowest tax rates we've ever had. In 1962 the top bracket tax rate was 91% its 30% now. I'm sure a lot of people on here remember that, or at least they should. I'm only 24 and I know that. If you really want to complain about taxes then I'm sure you could do without the cops, fire dept., dot, and so on and so forth. Its 2% for my wife and I we make right at $50,000 a year together and we are considered middle class. It may be the lower part but still part. Anyone who says they make over $100,000 a year, and this is to the op, and says that they aren't considered middle class is just plain wrong.

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[Michael Psycle]

Originally Posted by JHall573

Does anyone realize right now we have the lowest tax rates we've ever had. In 1962 the top bracket tax rate was 91% its 30% now. I'm sure a lot of people on here remember that, or at least they should. I'm only 24 and I know that. If you really want to complain about taxes then I'm sure you could do without the cops, fire dept., dot, and so on and so forth. Its 2% for my wife and I we make right at $50,000 a year together and we are considered middle class. It may be the lower part but still part. Anyone who says they make over $100,000 a year, and this is to the op, and says that they aren't considered middle class is just plain wrong.

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JHall - A lot of people want something for nothing.

[RGRider]

Originally Posted by JHall573

I'm only 24 and I know that.

You have a lot to learn Grasshopper. First is to quit drinking the Kool-Aid.

[JHall573]

Originally Posted by RGRider

You have a lot to learn Grasshopper. First is to quit drinking the Kool-Aid.

First of all my age has nothing to do with my knowledge or intelligence. I would appreciate not being judged by the majority of my generation. No kool aid those are actual numbers pulled from tax reports from 1911 to 2011. I stopped at 1962 only because that is when I've heard so many people say if only it was like it was back then. I stopped drinking the kool aid politicians, religious leaders, etc. were trying to pour down my throat a long time ago.


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[Lefty]

The maximum salary on which FICA is withdrawn for 2013 is $113,700. That equals a maximum additional $2274.

Of course it's viewed as an increase, but in reality it returns the participation to a mimimal level at which it belongs for the benefits derived. I guess a better solution for some would be to cut benefits for retired folks, the old grandma off the cliff approach.

[13MM]

Taxes were 90% now 39% grasshopper.
When they were 90% deductions were a plenty. Such as intrest on credit carsd, car loans, and a crap laod of investments, such as real estate. Did you know that if you make too much you cannot deduct any rental costs? The reality that loopholes are for the rich are GONE. It's a myth