Posted: 5/13/2010 12:35:39 PM EDT
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I just calculated the withholding from my check, looking at net v. gross, and net is only 66% of the gross. Now a realize that a little bit of this is my health insurance, but what the hell? I am not self employed, so if the employer match for payroll taxes were included, that 66% would be a lot smaller. There is something very wrong with that, and we have not even gotten to the tax increases, oh, excuse me, rollbacks, is that what they are calling the tax increases, or expiration of the tax cuts.
I do not think this is right. It is certainly left. |
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Instead of looking at your paycheck, look at your tax return. Did you get a big "refund"? If so, adjust your withholding accordingly. If you did not get a big refund, did you calculate the 66% correctly? I see you added back health insurance, did you remember to add back any 401K contribution?
Accountant |
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Quoted: Quoted: Wait till your self employed and your health insurance for the family is $7,000 per year. You should be thanking his highness for your new health insurance. Accountant I am! It's better to pay $7,000 for everyone than pay $7,000 for everyone but me! He just said "a little for health insurance" and I laughed. |
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The 47% of households who pay no federal income tax need you to shut up and go back to work.
http://finance.yahoo.com/news/Nearly-half-of-US-households-apf-1105567323.html?x=0&.v=1 Decades ago the first year I was self employed I had $12,000 of reportable income. I was eating ramen, sleeping on the floor of the office and would turn the A/C off in the summer evenings to save money. I still had to pay a couple grand in federal taxes. What I can't stand now is that people actually get money out of the IRS due to the credits. They don't have a zero tax liability, they have a negative tax liability. |
Payroll deductions are only a portion of the taxes you pay. But I quit worrying about it when I figured out they were not giving my money to non deserving things. They spend way more than they take in so really they are spending the borrowed money on that stuff.
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Wait till your self employed and your health insurance for the family is $7,000 per year. You should be thanking his highness for your new health insurance. Accountant Surprisingly we just had our open enrollment benefits meeting for the year and my healthcare including dental and vision went up 7%. My employer negotiated hard to keep it that low. So where is my famous "$2500 reduction in healthcare premiums" we were told would happen?? In our benefits meeting I asked them when this would be free. Since the healthcare law was passed. The HR person just looked at me . Several employees who are openly supporting Obama looked a little pissed at me. Alot of the others laughed. (Even one of the owners)
I know this is better for GD but, ..... FBHO!!! |
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Wait till your self employed and your health insurance for the family is $7,000 per year. You should be thanking his highness for your new health insurance. Accountant Surprisingly we just had our open enrollment benefits meeting for the year and my healthcare including dental and vision went up 7%. My employer negotiated hard to keep it that low. So where is my famous "$2500 reduction in healthcare premiums" we were told would happen?? In our benefits meeting I asked them when this would be free. Since the healthcare law was passed. The HR person just looked at me . Several employees who are openly supporting Obama looked a little pissed at me. Alot of the others laughed. (Even one of the owners)
I know this is better for GD but, ..... FBHO!!! On or before the new law takes effect everyone who buys insurance is going to be hit with a 33-40% increase to cover the "I dont want to pay until I need it" crowd. Then more will join that crowd and finally the insurers will say fuck it, it's a losing deal and move their capital back overseas. In case most people don't know, reinsurance is almost exclusively an overseas operation. The sucking sound from the capital leaving the US will be noticeable. We don't have nearly the domestic capital necessary to insure the nations risks. |
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Quoted: Quoted: Quoted: Quoted: Wait till your self employed and your health insurance for the family is $7,000 per year. You should be thanking his highness for your new health insurance. Accountant Surprisingly we just had our open enrollment benefits meeting for the year and my healthcare including dental and vision went up 7%. My employer negotiated hard to keep it that low. So where is my famous "$2500 reduction in healthcare premiums" we were told would happen?? In our benefits meeting I asked them when this would be free. Since the healthcare law was passed. The HR person just looked at me . Several employees who are openly supporting Obama looked a little pissed at me. Alot of the others laughed. (Even one of the owners)I know this is better for GD but, ..... FBHO!!! On or before the new law takes effect everyone who buys insurance is going to be hit with a 33-40% increase to cover the "I dont want to pay until I need it" crowd. Then more will join that crowd and finally the insurers will say fuck it, it's a losing deal and move their capital back overseas. In case most people don't know, reinsurance is almost exclusively an overseas operation. The sucking sound from the capital leaving the US will be noticeable. We don't have nearly the domestic capital necessary to insure the nations risks. You guys keep asking for "fo time" but one president finally tries to make it a reality and you all condemn him. Bunch of bi-polar dorks!  |
i understand what you guys are saying, and it's frustrating to say the least. i work with several guys that are "beating the system" and one that is down right hammering it. case in point one guy that is married with several kids, lives with moms in a trailer behind her house. dude is a shop porter and get back over 8 grand, his wife and kids are covered by the state for health insurance, free groceries and has bill assistance because the Georgia power bill is to expensive. kids ride the bus, eat breakfast and lunch for free at the school and get free daycare. i just stand there amazed at the bragging these guys do, we are all a bunch of suckers to them and are down right visious when defending Obama. when half of the people i work with are taking advantage of the systems, no wonder we all pay through the nose . that example is just one place of employment, this crap is state and nation wide 
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You guys keep asking for "fo time" but one president finally tries to make it a reality and you all condemn him. Bunch of bi-polar dorks!
Sorry I didn't see anyone talking about fo time in HTF and I don't take any pleasure in working families (not the 47% who don't pay taxes) getting fucked in the pocketbook. I wonder how many of those 47% have deluxe cable service and a big screen TV but wont pay for health insurance until they come down with an expensive ailment. Most, I would bet. Perhaps having half the country leaching off the other half is worth emoting to you but it scares the shit out of me. We have congress talking about a VAT tax and I'm thinking I may just up and move to China where a man can honestly earn the rewards of his work without being sucked dry by the leaches in society. My half brother––a British citizen––has been working in Hong Kong since 1994 pretty much tax free, he has houses in Val D'Isere, Vail, Courmayeur that we're free to use anytime. He's a barrister BTW, and not that bright. I got to thinking if I didn't carry the tax burden for all these other unproductive assholes over the last 22 years I could have enjoyed those things too. |
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Here is the one big POSITIVE for the VAT tax.
Everyone pays it. Even the dead-beat Donkeys leaching off of us. Before the tax kicks in, and it will, you would have to be ignorant not to think some large form of revenue increase is needed... Ahem... Pardon me, the Govt. needs more money. The Govt. produces nothing... The Govt. does not produce freedom. It does lie to you and tell that it is something you HAVE to pay for... (freedom) The Govt. has nothing to sale to increase its coffers... except TAXES, and they are coming. Pissed off, Ken |
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Wait till your self employed and your health insurance for the family is $7,000 per year. this + it goes up $100 every year because someone hits a new bracket. Who knew two 26 year olds and a 1 year old were such a liability. $100 every year, you slay me. 
The normal increases are going to be about 10% a year for the foreseeable future. |
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pib: probably. but the only way out is through... No, my way out is Cathay Pacific business class to HK. The job market there is much better than here. Maybe I'll just forget to pay taxes and never come "home". I put that in quotes because the country I find myself in today doesn't resemble the one I was born in attitute, complexion, or compulsion. |
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Quoted: Quoted: pib: probably. but the only way out is through... No, my way out is Cathay Pacific business class to HK. The job market there is much better than here. Maybe I'll just forget to pay taxes and never come "home". I put that in quotes because the country I find myself in today doesn't resemble the one I was born in attitute, complexion, or compulsion. quitter  |
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Wait till your self employed and your health insurance for the family is $7,000 per year. this + it goes up $100 every year because someone hits a new bracket. Who knew two 26 year olds and a 1 year old were such a liability. $100 every year, you slay me.
The normal increases are going to be about 10% a year for the foreseeable future. Pardon me, I meant every year it goes up $100 a month. |
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You know the top tax rate in the Carter years (A GEORGIAN thank you very much) was 70%. That meant Carter let you keep 30%. Why didn't the country collapse then? Because there were more deductions than you could say grace over, which lowered the "effective rate" to basically what we have now. Accountant |
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Here is the one big POSITIVE for the VAT tax. Everyone pays it. Even the dead-beat Donkeys leaching off of us. <snip> The VAT (Value Added Tax) is in my opinion double taxation. At every stage of production the VAT tax is levied on the increased value of the product. So the purpose of a VAT, is to increase the cost of the product. This cost is passed on to the consumer, so in the end it's just another sales tax. Frankly, I don't think we want to pay 2 sales taxes. Accountant |
i think we can all agree that the VAT tax will be double taxation, but at the end of the day, what will be done? selecting another R on the ballet box will not change what is coming, the American people just bitch and whine and pay anyways, then go back to work and repeat the bitching and whining. it's like if gas ever got to 7 dollars a gallon, oh the humanity, the threads and crying will be outrageous, but at the end of the day people will buy it like always and just bitch and complain. we have taught Washington that we will pay and move on, also reward them with our votes even though they continue to do this to us. so the cycle continues , i don't know what the answer is anymore, i use to think that Americans would rise up and fight to make change, now i see the lines at Starbucks around the building ever day and realize we have tons of money to blow, i honestly don't think America will change for the better even if a republican get into office in the next election cycle. i posted before that R's are just a slower demise to where our nation is headed, and D's are the express lane, i honest think that sums it up. i hope i'm wrong on everything, but just sitting back and watching has made me see what is what
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