Berkeley CSUA MOTD:Entry 20983
Berkeley CSUA MOTD
 
WIKI | FAQ | Tech FAQ
http://csua.com/feed/
2024/11/26 [General] UID:1000 Activity:popular
11/26   

2001/4/15 [Reference/Tax] UID:20983 Activity:high
4/13    That's just like the motd these days. I finally got someone cornered
        in an argument and someone purges it. But since the guy is too lazy
        \_ freeBSD SUCKS!
        to figure out our tax code, I think it's my duty to educate him. A
        single person making $100k will pay a little over $31k in state and
        federal combined and not the 39.5% that some people claim. But we
        can see who stands to benefit from this upper class tax cut. Bush
        will get back about $40k from retroactive tax relief while Cheney
        is a whole other story. But I have sympathy for Cheney. He'll need
        that money for future heart surgery so he deserves the millions he
        sits on. Incidentally, the upper bracket relief is almost equivalent
        to the amount of their money that goes towards debt service (a little
        more actually). So instead of dealing with this issue which will
        guarantee future long term tax cuts we're giving a massive short-term
        tax cut mostly aimed at that 39.5% group.
        \_ Uh no. As a percentage of earnings people in the "middle-class"
           (earning between 30K and 60K) will get the most tax relief.
           People how pay 100K plus in taxes may get back more money, but
           as a percentage, thier relief is much lower. And you forget
           that the top 1% bares 40% of the tax burden in this country.
           They have a right to get back more.
           \_ And the top 1% also commands 40% of the political influence
              in this country (with the exception of McCain, Fiengold, and
              a few other scrupulous people up there). Besides, if you
              were to interpret the 14th amendment to mean that there exist
              a single fixed rate tax bracket you would still have an
              unbalanced ratio. It may not be 1:40 like you said but it
              would still be widely uneven. 1% of the population bare 40%
              of the tax burden because they make a lot more money too.
              I've calculated how this will impact my taxes and it pales
              in comparison to what Bush will be getting in return.
              Every day I work my ass off more than Bush (who didn't even
              take college seriously) ever did. Here I am struggling to
              pay rent and he's in the White House waiving his magic wand.
                \_ Why?  They can afford to pay more.  There is no right
                   to equal taxation in the Constitution.
                   \_ 14th amendment
                \_ Boston Tea Party you moron.  You can't make someone
                   pay 40% of the bill and get 1% of the representation.
                   \_ as opposed to now, where I pay 40% of the bill, and
                      get 0% representation?
                      \_ do you expect the guy earning $6/hr to pay for
                         the freeway that takes both of you to work so
                         you can buy his fast-food to save your time?
2024/11/26 [General] UID:1000 Activity:popular
11/26   

You may also be interested in these entries...
2013/9/2-11/7 [Reference/Tax] UID:54736 Activity:nil
9/2     I'm young, and stupid. Does the IRS want reporting on 401K, IRA,
        Roth 401k/IRA? I am decades from retiring, and no plan to withdraw
        anything. But, I just realized that I haven't reported any of my
        retirement plans to IRS for several years, now wondering if I'm
        in big shit...
        \_ The account custodian (bank/brokerage/mutual fund) reports it to
	...
2012/11/5-12/4 [Politics/Domestic/Election, Reference/Tax] UID:54521 Activity:nil
11/5    "Tax Policy Center in Spotlight for Its Romney Study":
        http://www.csua.org/u/y7m (finance.yahoo.com)
        'A small nonpartisan research center operated by professed "geeks" ...
        found, in short, that Mr. Romney could not keep all of the promises he
        had made on individual tax reform ....  It concluded that Mr. Romney's
        plan, on its face, would cut taxes for rich families and raise them
	...
2012/3/5-26 [Reference/Tax] UID:54327 Activity:nil
3/5     My dad is retired and has no income. My income tax bracket is
        pretty high. If I open up a joint high interest CD account with
        him and the INT-1099 comes, is it possible to file it under him
        100% to take advantage of the lower tax?
        \_ IRS says the interest is allocated according to who allocated
           the assets. Do you think it will generate enough interest to
	...
2012/3/7-26 [Reference/Tax] UID:54331 Activity:nil
3/7     "Michigan woman still collecting food stamps after winning $1 million
        lottery"
        http://www.csua.org/u/vp3 (news.yahoo.com)
        `"I feel that it's OK because I mean, I have no income and I have
        bills to pay," she said. "I have two houses."'
        \_ My first reaction was pretty hostile to her, but then, I
	...
2011/4/17-7/30 [Politics/Domestic/California, Reference/Tax] UID:54087 Activity:nil
4/17    http://news.yahoo.com/s/ap/us_no_taxes
        "The super rich pay a lot less taxes than they did a couple of decades
        ago, and nearly half of U.S. households pay no income taxes at all."
        And people are still complaining about taxes being too high.
        \_ yeah but only 3 out of the 5 people who aren't rich but complain
           are actually counted.
	...