Here is my Halloween Contribution

Ask your investment, budget, and other money related questions here
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HSpencer
Posts: 772
Joined: Wed Jul 21, 2010 11:21 pm

Post by HSpencer »


JohnnyH
Posts: 2005
Joined: Thu Jul 22, 2010 6:00 pm
Location: Rockies

Post by JohnnyH »

Holy hell, depressing... Good thing as smart ERErs we are insulated from a lot of this stuff.
Also good I am not going to be working when the brunt of these taxes hit... Hm, is it ethical to get on a variety of "assistances" to be paid back for all the years I spent paying taxes?
Property taxes are especially worrying. A liability even. In my area some property taxes went from a few hundred to several thousand under a new appraisal method... These are vacant lots. I suppose there is a limit to what people will tolerate, but this could certainly throw a wrench into ER's gears.


George the original one
Posts: 5406
Joined: Wed Jul 28, 2010 3:28 am
Location: Wettest corner of Orygun

Post by George the original one »

Plain fearmongering...
What is the definition of "financial elite"?
Health insurance rates have been going up dramatically for at least the past 30 years, so I have troubles blaming Obama-care for the latest annual round of increases.
Federal income tax rates are merely returning to prior levels, not new levels. We had a break for 9 years and now its time to pay the piper (so to speak).
State taxes are going up because the Feds quit paying for a bunch of stuff that we'd grown used to over the past 30 years, so they felt obligated to pick up the tab. Now the revenue isn't there, so it's either completely cut those services (every one of us probably has a vested interest in at least one) or raise revenue.
If one believes the current tax rates are onerous, then one should be legislating. I haven't seen any petitions this year akin to former tax abatement petitions... so why isn't the tea party making these petition drives?


jacob
Site Admin
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Joined: Fri Jun 28, 2013 8:38 pm
Location: USA, Zone 5b, Koppen Dfa, Elev. 620ft, Walkscore 77
Contact:

Post by jacob »

http://www.amazon.com/Survival-Structur ... 449563449/
This book explains A LOT of what's going on and how the above is working. In particular, why nobody is really doing anything about it ...


orinoco
Posts: 74
Joined: Sat Jul 24, 2010 11:28 am
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Post by orinoco »

Is there a personal tax allowance in the US like here in the UK? Here we only pay income tax on anything we earn over £6475. The limit changes when you pass age 65 or earn over £100,000pa.


George the original one
Posts: 5406
Joined: Wed Jul 28, 2010 3:28 am
Location: Wettest corner of Orygun

Post by George the original one »

@orinco - yes, there is. For a married childless couple, it's about $13k; singles are about half that and if you have children, you add ~$3k per child.
Then states that have income tax also have their own version. In Oregon, the married childless couple has to pay tax on everything earned above about $3.5k.
Then, to complicate matters more... there are investments that can be tax-free (easy at the national level, more difficult at the state level).


HSpencer
Posts: 772
Joined: Wed Jul 21, 2010 11:21 pm

Post by HSpencer »

--------And, if the original reference was not enough for you, well try this:
http://www.lewrockwell.com/rep/get-nerv ... onomy.html
cheers


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