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ddq2 commented on the blog post House Democrats Reject Tax Cut Deal “In Its Current Form”
i still contend that the issue of taxes and unemployment need to be separate; the congress needs to continue through the holidays if need be to get each of these issues resolved for the best interests of the country, not the pundits. and lets include the 99er’s in this unemployment discussion.
as for the tax increase potential, those who may be facing this have one thing to be thankful for…they are employed. for one, i would not be against my tax bracket increasing if it helps the country; more income to the government doesn’t necessarily lead to an add to the deficit. i wonder how much an individual’s taxes would ACTUALLYY increase?
the past couple of evenings “Mr. Lawrence O’Donnell” has ranted about the impact of a 50% increase on the poor; so i was curious, what exactly comprises the 10% tax bracket?
according to this link– http://www.moneychimp.com/features/tax_br…ackets.htm
the 10% bracket applies as follows for income ranges in the following filing statuses:single: $0 to $8,375 {8375 = approx 4.25/hr}
married filing separately: $0 to $8,375 {8,375 = approx $4.25/hr}
head of household: $0 to $11,950 {11,950 = approx $5.75/hr}
married filing jointly: $0 to $16,750 {could be as much as $8.50/hr}now, having said this, lets think about this a moment and lets compute the taxes these people would actually pay in a given year:
plug these numbers into the following tax calculator and apply the appropriate deductions, exemptions, etc.
http://www.moneychimp.com/features/tax_calculator.htm
and what might you find? you find that they are paying NO TAXES AT ALL!!!
SO “”, put that in your “last word pipe” and smoke it you pompous …. !
now having said all of this, i agree that the taxes on those who earn under $250K should not be increased, i would even extend that to an adjusted amount based on inflation of when this 250K number was originally established. but the bottom line is lets compare apples to apples, let not just limit the thinking to what the tax bracket percentages may be, but lets keep the actual monetary obligation that each bracket will actually face in mind. i dare say that those in upper brackets wouldn’t miss the extra few dollars out of each paycheck if the bush cuts were to lapse, remember, THEY HAVE JOBS!! {and i do seem to recall that you can adjust your withholding to some degree via the W-4}
for those who are unemployed, unemployment compensation at {say} $400/week x 52 weeks= 20,800 {approx $10/hr} this would conceivably be the 15% bracket. oh, and i do believe that those who are unemployment have options about what they wish to have withheld as well
plug that number into the tax calculator with its various permutations/number and i wager you still won’t see significant financial impact.
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ddq2 commented on the blog post House Democrats Reject Tax Cut Deal “In Its Current Form”
the issue of unemployment benefits should never have been tied to the tax rate issue. the conservatives use this a a leverage point, and the dems let them do it. i would say that the democratic majority can turn this lame duck session into something else just by insisting that NO-ONE goes home for Christmas or new years, or anything else until the unemployment issues and tax rates are dealt with PERIOD! and that the need to be separate issues
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ddq2 commented on the diary post Lawrence O’Donnell Doesn’t Get The Last Word, Fortunately by Knoxville.
i have seen the last couple of evenings of “Mr. O’Donnell’s” rantings/ravings about the 50% increase on the poor; so i was curious, what exactly comprises the 10% tax bracket? according to this link– http://www.moneychimp.com/features/tax_brackets.htm the 10% bracket applies as follows for income ranges in the following filing statuses: single: $0 to $8,375 {8375 = [...]
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