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Felix The Assassin

09-19-2011 11:51 PM

How would Obama's tax plan affect you?

Income: $125,000
Status: single, no children
Old taxes: $21,400
New taxes: $21,400
Difference: $0
The main Obama tax provisions would not affect taxes paid by individuals earning between $100,000 and $125,000 (or couples earning between $200,000 and $250,000).

http://articles.moneycentral.msn.com...ffect-you.aspx

ElfBane

09-20-2011 05:15 AM

Re: How would Obama's tax plan affect you?

If BHO's new tax plan is "really" as simple as your example, then we wouldn't be affected (we make less than that). But tax systems, in the US at any rate, are always full of loopholes and gotchas.

Felix The Assassin

09-20-2011 09:39 AM

Re: How would Obama's tax plan affect you?

Quote:

Originally Posted by ElfBane (Post 1247394)

If BHO's new tax plan is "really" as simple as your example, then we wouldn't be affected (we make less than that). But tax systems, in the US at any rate, are always full of loopholes and gotchas.

That is the break even point, all of us below that level would slightly to moderately benefit. Those above would pay more, as they should. However, that is where members of congress fall, and they would exhaust today's Soldier's benefits, and military widows benefits, or a disabled veterans VA benefits before they would touch there own wallet.

If you do a bit of a search about current congressional members, 61% are millionaires and as we know, have lost touch with reality. The other 39% are trying to make status quo!

Azred

09-20-2011 12:13 PM

Re: How would Obama's tax plan affect you?

We bring in a fair amount over the median income and have 2 kids so our changes will be essentially nonexistent.

I also e-file our return as early in January as possible. Calculating our taxes based off last year's final paycheck is simplicity itself and I also adjust the W-4 after filing so that I can tweak the withholding for the current year to minimize any impact in the following year.

Once Noty (notabarbiegirl, for those of you who are not in the know) starts working we will make significant changes to our tax situation because of the extra income.

Lord of Alcohol

09-20-2011 01:28 PM

Re: How would Obama's tax plan affect you?

Quote:

Originally Posted by Felix The Assassin (Post 1247395)

If you do a bit of a search about current congressional members, 61% are millionaires and as we know, have lost touch with reality. The other 39% are trying to make status quo!

Like this poor congressmam?

http://gawker.com/5841749

SpiritWarrior

09-20-2011 08:31 PM

Re: How would Obama's tax plan affect you?

Quote:

Originally Posted by Lord of Alcohol (Post 1247397)

Like this poor congressmam?

http://gawker.com/5841749

And we think we got it bad.

Timber Loftis

09-21-2011 06:27 PM

Re: How would Obama's tax plan affect you?

Quote:

Originally Posted by Lord of Alcohol (Post 1247397)

Like this poor congressmam?

http://gawker.com/5841749

SpiritWarrior

09-21-2011 07:20 PM

Re: How would Obama's tax plan affect you?

Feed his family with 600,000? Imagine how many houses you could buy per year with that coming in?

Azred

09-22-2011 03:18 AM

Re: How would Obama's tax plan affect you?

I thought Richie Rich was the poor little rich boy. *shrug*

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