I don't get where you presume avoiding going into a higher tax bracket is evidence of "ignorance about our tax system? I'm probably going to try to avoid the 36% level myself next year. why pay that & the punitive 3.8 % medicare tax?
I think the point was that many think their tax rates will jump to the higher bracket for ALL income, which is, as I'm sure you know, is totally wrong. If I pay 25% for the first $250K or so, and then pay 33% for the next $250K, I'm certainly not going to stop trying to make the whole $500K, just be thankful for the savings on the first $250K. In spirit of Thanksgiving and the Holidays, can I ask how your change into trading is going? Last time you said a bit slow, and perhaps your old employer still needs your services. Only 5 weeks to go until 2013, hope it's working out. Please let me know.
So you would deliberately stay under what may be the threshold for the top bracket in 2013, $250K? If you earned $300k trading, how much Obamacare tax would you end up paying?
That's the whole point. If we were talking about going from 25% to 90% and have it retro to dollar one, then I can see the argument. But the way it is, is simply not that way. Hell, if it scaled up to 50 or 60% I still would not stop trying to earn more, who would?
Brother Bong; you're back! I can stop my crying now. When you indicated you were thru here, I, and I'm sure many others, were heartbroken. I thought this place would fold. I assume Baron contacted you and begged you to return?
I have no idea what you're talking about. I have never been in the $5000 seminar business or anything similar. I have been pretty successful trading, and have helped others in my life, and don't mind sharing. Lately, I've been finding some nice put sales, decent IV and quick return, that's just something I would share. What are you trading these days?
Nope, no need to. Do you always switch to some nonsense when you have no valid discussion points? Aliases, medical conditions, how trite. But, it's what I login for, the entertainment value. Am I to assume you don't trade? Which is fine, just wondering.
I want to see if PT understands the issues. I am not sure he does. The Obamacare 3.8% is on investment income and the first 250K is excluded. If you are a trader, then the surcharge should not deter you from seeking greater income beyond 250k It should not make one happy about paying it either, but if one's investment income is composed mostly of short term capital gains, the tax will not be a deterrent to pursuing income over 250k. The tax might provoke a rare ideological protest: someone may be so opposed to the tax as to arrange one's financial affairs to avoid it.