So the maximum tax rate will be 43.4% (Remember, after this year top rate goes from 35->39.6%) if you have short-term gains (ie daytrading, etc) of a year or less and you exceed whatever the income thresholds are, you could be taxed 43.4% BEFORE your state income taxes. 43.4% is also possible if you own your own biz since you pay the medicare match on your salary (ie you can divert the income to dividends since it would add up the the same since they are increasing the medicare tax to 2.35 for the employee side) Wonder what effects its going to have driving up the top federal rate from 35% -> 43.4% over 3 years. Is it possible with state taxes of I believe 10%+ max in NJ or close to that in CA that someone could pay over 50% in taxes? I know that state taxes are deductible, but what is the theroretical highest tax you could pay if you lived in a high tax state (CA, NJ, wherever else).. could it exceed 50%? Dems/Liberals have Bush/Repubs to thank, if they hadn't screwed up so bad there would have been far more conservatives in House and undoubtedly Senate where this thing wouldn't have gotten through. Plus, I dont' believe the tax thresholds are indexed to inflation haha (reading congress.gov) but it changes and there are so many admendments maybe it will(?) :eek:
It begins. The middle class will soon begin dissappearing because the politicians will never tax the rich, then the currency will begin to fall.
It will be like in Europe. We'll have to pay 40% up to 65% of our gross income. Capital gains will be taxed just like any other income. And the more money you make the more to the left you find yourself in the tax table. There is no other way you can fund a socialist system and big government. B.O. opened the big gate to the land of evil. This is just the beginning. Labor unions will become even more stronger. And then we'll find Americans rallying not for more freedom but for more handouts just like in fucking old europe.
not with the gov't controlling the entire thing we dont name 1 govt program that has been a success and not lost a shit ton of money 1. medicaid 2. medicare 3. cash for clunkers 4. the bailout 5. social security 6 7 8 9 0 1 2 3 4 name 1
at last someone can actually understand what the fuck is happening applause applause basically we are all fucked
Well, as I stated the idea is to elect representatives to government who DON'T fit that mold. Note that I never said simply vote Republican. Both parties are at this point just two heads of the same monster.
health care in the u.s is a big issue. imagine your close friend or family who recently laid off and no longer afford to have health care involves in a serious car accident. Next thing you know, ER room denial cares for his/her serious injure. 2 days later, he/she passed away. How would you feel?
next example, imagine your close friend/family has a serious cancer and can be cured if his/her health care coverage cover it. Apparently, his/her health care denial coverage to his serious cancer treatment. 2 months later, he/she died. How would you feel This is not about what political party or baesd on principle. this is about fact of life. If you are rich and have excellent health care coverage, that's good for you. But, your family/friends are not rich like you.
thats not the fucking point the point is AGAIN why do we need the gov't to control the entire thing in order to accomplish a solution to what you have stated above jesus christ, this is exactly why this country is so fucked-----------it is full of morons