Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
It is a 3% marginal tax difference on anything above $250,000.00 per year... He will only pay higher taxes on the marginal income above $250,000... So if he makes $300,000 per year...he will pay an additional 3% on that $50,000.. He still gets the tax break on the first $250,000.
You sure get snotty for not knowing how the plan works...
Here you have it just in case you want to know the facts:
Quote:
A worker making $200,000 a year would pay no additional payroll taxes under Obama's plan. But anyone making $250,000 a year or more would pay 6.2 percent in payroll taxes on their entire income
It is a 3% marginal tax difference on anything above $250,000.00 per year... He will only pay higher taxes on the marginal income above $250,000... So if he makes $300,000 per year...he will pay an additional 3% on that $50,000.. He still gets the tax break on the first $250,000.
You sure get snotty for not knowing how the plan works...
.......
It wold push you out of that bracket to the next. that is how taxes work.....
Where anywhere on these graphs doe it say yes but over this amount you are only taxes this?
Some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job.
As public policy, this is contradictory. The tax credits are sold in the name of "making work pay," but in practice they can be a disincentive to working harder, especially if you're a lower-income couple getting raises of $1,000 or $2,000 a year. One mystery -- among many -- of the McCain campaign is why it has allowed Mr. Obama's 95% illusion to go unanswered.
It wold push you out of that bracket to the next. that is how taxes work.....
Where anywhere on these graphs doe it say yes but over this amount you are only taxes this?
Some families with an income of $40,000 could lose up to 40 cents in vanishing credits for every additional dollar earned from working overtime or taking a new job.
As public policy, this is contradictory. The tax credits are sold in the name of "making work pay," but in practice they can be a disincentive to working harder, especially if you're a lower-income couple getting raises of $1,000 or $2,000 a year. One mystery -- among many -- of the McCain campaign is why it has allowed Mr. Obama's 95% illusion to go unanswered.
"An individual pays tax at a given bracket only for each dollar within that bracket's range."
Example...
For example, a single taxpayer who earned $10,000 in 2007 would be taxed 10% of each dollar earned from the 1st dollar to the 7,825th dollar (10% × $7,825 = $782.50), then 15% of each dollar earned from the 7,826th dollar to the 10,000th dollar (15% × $2,175 = $326.25), for a total of $1,108.75. Notice this amount ($1,108.75) is lower than if the individual had been taxed at 15% on the full $10,000 (for a tax of $1,500). It is a combination of 'brackets' if you crossover into the next....
Do you really think if I made $250,001 that would throw the enitre amount into a different tax bracket all together...and I would get that entire amount taxed at the higher brackets rate? Is that what you are really saying??? The $250,000 would be in one bracket and taxed accordingly and the $1.00 would go into the next.
I guess you really need to understand the fundamentals of income taxes before you can relate...
"An individual pays tax at a given bracket only for each dollar within that bracket's range."
Example...
For example, a single taxpayer who earned $10,000 in 2007 would be taxed 10% of each dollar earned from the 1st dollar to the 7,825th dollar (10% × $7,825 = $782.50), then 15% of each dollar earned from the 7,826th dollar to the 10,000th dollar (15% × $2,175 = $326.25), for a total of $1,108.75. Notice this amount ($1,108.75) is lower than if the individual had been taxed at 15% on the full $10,000 (for a tax of $1,500). It is a combination of 'brackets' if you crossover into the next....
Do you really think if I made $250,001 that would throw the enitre amount into a different tax bracket all together...and I would get that entire amount taxed at the higher brackets rate? Is that what you are really saying??? The $250,000 would be in one bracket and taxed accordingly and the $1.00 would go into the next.
I guess you really need to understand the fundamentals of income taxes before you can relate...
You're assuming that Obama and the tax avoider Charlie Rangel aren't going to try and rewrite the tax code.
Any time to change a tax plan, you have to rewrite the tax code.
"An individual pays tax at a given bracket only for each dollar within that bracket's range."
Example...
For example, a single taxpayer who earned $10,000 in 2007 would be taxed 10% of each dollar earned from the 1st dollar to the 7,825th dollar (10% × $7,825 = $782.50), then 15% of each dollar earned from the 7,826th dollar to the 10,000th dollar (15% × $2,175 = $326.25), for a total of $1,108.75. Notice this amount ($1,108.75) is lower than if the individual had been taxed at 15% on the full $10,000 (for a tax of $1,500). It is a combination of 'brackets' if you crossover into the next....
Do you really think if I made $250,001 that would throw the enitre amount into a different tax bracket all together...and I would get that entire amount taxed at the higher brackets rate? Is that what you are really saying??? The $250,000 would be in one bracket and taxed accordingly and the $1.00 would go into the next.
I guess you really need to understand the fundamentals of income taxes before you can relate...
Any tax increase on any business gets passed on down the line. If that business provides goods for other businesses then that "extra" cost get's passed down the line. Eventually the people who get stuck are the consumers of those goods. Don't believe me? Check out the tax rates on businesses in the developing nations. We grew huge with the "trickle down" economics now we are reverting back while every other nation is following our "trickle down" theory that Reagan introduced. Want to guess what happens to those nations and what's going to happen to our? You thought jobs left quick before....
When the price of barrels of oil went up did the oil giants "absorb" the cost....no need to answer everyone knows it already.
Any tax increase on any business gets passed on down the line. If that business provides goods for other businesses then that "extra" cost get's passed down the line. Eventually the people who get stuck are the consumers of those goods. Don't believe me? Check out the tax rates on businesses in the developing nations. We grew huge with the "trickle down" economics now we are reverting back while every other nation is following our "trickle down" theory that Reagan introduced. Want to guess what happens to those nations and what's going to happen to our? You thought jobs left quick before....
Exactly! People just don't get that companies are NOT TAX PAYERS, they are tax collectors. If anyone thinks that passing a tax on those "evil" companies will not be passed on to the consumer you are living in a delusional world and need to wake up.
The minute B.O. were to pass any of these taxes the companies will adjust what they charge and then YOU will pay the higher cost and then scream how "everythings going up" those evil companies are shafting us....
Who has had to call a service company such as a plumber, HVAC specialist, electrician...etc? When you got the bill it had a arrival fee or travel fee on it I would almost guarantee. It may have been $15 or more. Now if those companies are feeling the need to charge you for an arrival fee what will that company feel the need to do when gas prices increase?
Remember most service companies use trucks that barely get 20 miles per gallon on the highway.
Who cares about Joe the plumber, who isn't even a plumber? Who owes back taxes, just wants to not pay his taxes. Who would be better off under Obama's plan unless he makes $250,000.!! He just does not get it!
Just another McCain gimmick! Joe can blame him for the mess he is in now!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
those evil companies are shafting us....
