Comments on: Ask the taxgirl: President Elect Obama and taxes http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: elush http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7289 elush Sun, 09 Nov 2008 23:43:31 +0000 http://www.taxgirl.com/?p=1768#comment-7289 Come on people even if you drop it down to $100K that is still less than 20% of the households in the US (http://pubdb3.census.gov/macro/032007/hhinc/new06_000.htm) and at $250,00 that is less than 2% of households who are we kidding here? IF this plan makes it through congress somewhere between 1 in 5 to 1 in 10 households will see some sort of tax increase. I just can't feel sorry for people about this especially if you look at what the tax brackets were pre-Reagan. I'm much more concerned about what the current financial crisis has to say about how we as a whole are blinded by greed. It didn't really matter who won the election we are too far down a bad road to bring about any real meaningful change at this point. Come on people even if you drop it down to $100K that is still less than 20% of the households in the US (http://pubdb3.census.gov/macro/032007/hhinc/new06_000.htm) and at $250,00 that is less than 2% of households who are we kidding here? IF this plan makes it through congress somewhere between 1 in 5 to 1 in 10 households will see some sort of tax increase. I just can’t feel sorry for people about this especially if you look at what the tax brackets were pre-Reagan.

I’m much more concerned about what the current financial crisis has to say about how we as a whole are blinded by greed. It didn’t really matter who won the election we are too far down a bad road to bring about any real meaningful change at this point.

]]> By: barbara http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7265 barbara Sat, 08 Nov 2008 16:02:54 +0000 http://www.taxgirl.com/?p=1768#comment-7265 It should probably be pointed out that the $250K (or $200K or whatever it was down to by the end of the campaign) was based on a family of four--a point Obama seemed to go out of his way to obscure by constantly using the term "individuals" when what he really meant was family of four. The last week of the campaign he finally started using the term "households." Many Obama supporters I talked to where surprised to learn that fact. If the questioner is single with no dependent children and does not have substantial mortgage deductions, the higher tax will likely kick in around $100k, but there are so little actual facts in Obama's proposal no one really knows.. It should probably be pointed out that the $250K (or $200K or whatever it was down to by the end of the campaign) was based on a family of four–a point Obama seemed to go out of his way to obscure by constantly using the term “individuals” when what he really meant was family of four. The last week of the campaign he finally started using the term “households.” Many Obama supporters I talked to where surprised to learn that fact.

If the questioner is single with no dependent children and does not have substantial mortgage deductions, the higher tax will likely kick in around $100k, but there are so little actual facts in Obama’s proposal no one really knows..

]]> By: Kelly http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7229 Kelly Fri, 07 Nov 2008 01:33:36 +0000 http://www.taxgirl.com/?p=1768#comment-7229 Jess, I assume it was a typo. I didn't change it because as a rule, I don't edit questions - I figure my readers say what they mean. More about "ask the taxgirl" here: http://www.taxgirl.com/ask-the-taxgirl/ Jess, I assume it was a typo. I didn’t change it because as a rule, I don’t edit questions – I figure my readers say what they mean. More about “ask the taxgirl” here: http://www.taxgirl.com/ask-the-taxgirl/

]]> By: Jess http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7228 Jess Fri, 07 Nov 2008 01:06:52 +0000 http://www.taxgirl.com/?p=1768#comment-7228 " if Osama is elected he come into office in Jan 09 when will the 250K tax rate increase take effect ? " was the Osama a typo... ” if Osama is elected he come into office in Jan 09 when will the 250K tax rate increase take effect ? ” was the Osama a typo…

]]> By: SKIP MCQUAID http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7226 SKIP MCQUAID Fri, 07 Nov 2008 01:02:19 +0000 http://www.taxgirl.com/?p=1768#comment-7226 Pension combination from teaching and law enforcement - and does not understand how our legislative system works? I hope he didn't government. So if he works part time and makes 12k and he has to pay 50% (an figure picked out of the air) - he' still got 6k left - or he can stay home and not get the 6k....our tax system as it is now will always leave you something - maybe not a whole lot - but something....my problem is I am already over 250 and have no idea what to do about it except grin and bear it.....and then I have to also remember that there are a whole big bunch of folks that would trade places with me in a heartbeat..... Pension combination from teaching and law enforcement – and does not understand how our legislative system works? I hope he didn’t government. So if he works part time and makes 12k and he has to pay 50% (an figure picked out of the air) – he’ still got 6k left – or he can stay home and not get the 6k….our tax system as it is now will always leave you something – maybe not a whole lot – but something….my problem is I am already over 250 and have no idea what to do about it except grin and bear it…..and then I have to also remember that there are a whole big bunch of folks that would trade places with me in a heartbeat…..

]]> By: pmac http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7224 pmac Fri, 07 Nov 2008 00:19:33 +0000 http://www.taxgirl.com/?p=1768#comment-7224 Well, my situation is quite different than this. Obama says seniors under 50K would pay no taxes. I am well under this figure. Withdrawing from IRAs and keeping income under 50K would eliminate tax on these IRA withdrawals? No tax on SS income? Sounds great to me. I am waiting to see. Well, my situation is quite different than this. Obama says seniors under 50K would pay no taxes. I am well under this figure. Withdrawing from IRAs and keeping income under 50K would eliminate tax on these IRA withdrawals? No tax on SS income? Sounds great to me. I am waiting to see.

]]> By: Urbie http://www.taxgirl.com/ask-the-taxgirl-president-elect-obama-and-taxes/comment-page-1/#comment-7222 Urbie Thu, 06 Nov 2008 23:02:02 +0000 http://www.taxgirl.com/?p=1768#comment-7222 This guy is retired, yet still has an income of almost $250K, and he's worried about some infinitesimal increase in his marginal tax rate that might (and, given the state of the economy, might not) happen? We should all have such problems! Urb This guy is retired, yet still has an income of almost $250K, and he’s worried about some infinitesimal increase in his marginal tax rate that might (and, given the state of the economy, might not) happen? We should all have such problems!

Urb

]]>