Posted by Marc_FL on February 14, 2012 at 03:41:05 from (174.131.56.65):
In Reply to: Taxes posted by oldtanker on February 13, 2012 at 23:00:56:
Honestly, I really don't care at what percentage Old Warren is taxed. Nor I'm sure does he care what my percentage is either.
But that said if those guys want to be taxed at 30% or 40% fine. If it reduces cuts in say VA health care or the SNAP program for folks who really need it. For full disclosure I don't partipate in either. Once out of the service I was always on a corporate health plan and now I'm what they call in the VA terms a priority 8 Vet (make over the threshold to be eligible). Used the old GI Bill for my Masters degree though.
I think old tanker is referring to the laddered tax brackets. In other words say you make $100,000 (AGI). Income taxes are computed on a laddered basis x% is taxed at at lower rate, then then the next rate and so on until you get to the $100,000. So a small percentage is actually taxed at the higher rate.
Anyway for folks that are not affiliated with an employer, but work for themselves bear the full burden of FICA and the normal FED tax after that.
Plus you have to file quarterly so, "they" already have your money. The only issue come tax time is did you pay enough.
Yes, I can agree with old tanker about the unemployment numbers. It does not count people who fell off 99%ers or folks who just gave up looking. Plus who's being asked and where they are located. It's an indicator but should be viewed with a 'grain of salt'.
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