Forum Replies Created
-
AuthorPosts
-
CoronitaParticipantOk ucodogen and raptorduck ,
I guess I have to take both of your words, because frankly I can't relate :)…I don't think I meant to say rich people pay NO taxes. I just felt talking to advisors and whatnot that the conversations usually resulted in "sorry, your assets and current employment predicament being on a w-2, though a sizeable w-2 doesn't allow me to play with much to avoid taxes, unlike client XYZ which does most of their business in RE and recognizes very little income"
I suppose my advisor(s) was b.s.ing me. For the record, I do know what getting hit with AMT is about, because I've been hit pretty much every year for the past couple of years, both married and single…Though I i really don't feel rich. Though the ironic part is the larger the mortgage interest deduction on my primary, the less AMT I would have ended up paying (not that much, a few thousand), even with the itemized deduction phase out.
I just thought executives had access to things like deferred compensation plans, zero interest loans from companies, etc that somehow allowed them to skew income, etc though I'm not an accountant or really smart enough to know.
And by no means do I think rich people should get hit with a bigger tax. Quite contrary, I believe for better or worse that most people who are rich probably got there through some merit, and do keep the rest of the economy going. I'm just peeved the government keeps classify me and my family as rich when we aren't. I hate government that acts like robin hood. Pelosi, with all due respect, scares thecrap out of me.
Anyway, end vent. Time to get off my lazy union -ss.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOk ucodogen and raptorduck ,
I guess I have to take both of your words, because frankly I can't relate :)…I don't think I meant to say rich people pay NO taxes. I just felt talking to advisors and whatnot that the conversations usually resulted in "sorry, your assets and current employment predicament being on a w-2, though a sizeable w-2 doesn't allow me to play with much to avoid taxes, unlike client XYZ which does most of their business in RE and recognizes very little income"
I suppose my advisor(s) was b.s.ing me. For the record, I do know what getting hit with AMT is about, because I've been hit pretty much every year for the past couple of years, both married and single…Though I i really don't feel rich. Though the ironic part is the larger the mortgage interest deduction on my primary, the less AMT I would have ended up paying (not that much, a few thousand), even with the itemized deduction phase out.
I just thought executives had access to things like deferred compensation plans, zero interest loans from companies, etc that somehow allowed them to skew income, etc though I'm not an accountant or really smart enough to know.
And by no means do I think rich people should get hit with a bigger tax. Quite contrary, I believe for better or worse that most people who are rich probably got there through some merit, and do keep the rest of the economy going. I'm just peeved the government keeps classify me and my family as rich when we aren't. I hate government that acts like robin hood. Pelosi, with all due respect, scares thecrap out of me.
Anyway, end vent. Time to get off my lazy union -ss.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOk ucodogen and raptorduck ,
I guess I have to take both of your words, because frankly I can't relate :)…I don't think I meant to say rich people pay NO taxes. I just felt talking to advisors and whatnot that the conversations usually resulted in "sorry, your assets and current employment predicament being on a w-2, though a sizeable w-2 doesn't allow me to play with much to avoid taxes, unlike client XYZ which does most of their business in RE and recognizes very little income"
I suppose my advisor(s) was b.s.ing me. For the record, I do know what getting hit with AMT is about, because I've been hit pretty much every year for the past couple of years, both married and single…Though I i really don't feel rich. Though the ironic part is the larger the mortgage interest deduction on my primary, the less AMT I would have ended up paying (not that much, a few thousand), even with the itemized deduction phase out.
I just thought executives had access to things like deferred compensation plans, zero interest loans from companies, etc that somehow allowed them to skew income, etc though I'm not an accountant or really smart enough to know.
And by no means do I think rich people should get hit with a bigger tax. Quite contrary, I believe for better or worse that most people who are rich probably got there through some merit, and do keep the rest of the economy going. I'm just peeved the government keeps classify me and my family as rich when we aren't. I hate government that acts like robin hood. Pelosi, with all due respect, scares thecrap out of me.
Anyway, end vent. Time to get off my lazy union -ss.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOk ucodogen and raptorduck ,
I guess I have to take both of your words, because frankly I can't relate :)…I don't think I meant to say rich people pay NO taxes. I just felt talking to advisors and whatnot that the conversations usually resulted in "sorry, your assets and current employment predicament being on a w-2, though a sizeable w-2 doesn't allow me to play with much to avoid taxes, unlike client XYZ which does most of their business in RE and recognizes very little income"
I suppose my advisor(s) was b.s.ing me. For the record, I do know what getting hit with AMT is about, because I've been hit pretty much every year for the past couple of years, both married and single…Though I i really don't feel rich. Though the ironic part is the larger the mortgage interest deduction on my primary, the less AMT I would have ended up paying (not that much, a few thousand), even with the itemized deduction phase out.
I just thought executives had access to things like deferred compensation plans, zero interest loans from companies, etc that somehow allowed them to skew income, etc though I'm not an accountant or really smart enough to know.
And by no means do I think rich people should get hit with a bigger tax. Quite contrary, I believe for better or worse that most people who are rich probably got there through some merit, and do keep the rest of the economy going. I'm just peeved the government keeps classify me and my family as rich when we aren't. I hate government that acts like robin hood. Pelosi, with all due respect, scares thecrap out of me.
Anyway, end vent. Time to get off my lazy union -ss.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantForgot
Texas Instruments: tops estimates.
It's interesting that the CEO/CFO of the companies that topped estimates says there no spillover of U.S. economy.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantForgot
Texas Instruments: tops estimates.
It's interesting that the CEO/CFO of the companies that topped estimates says there no spillover of U.S. economy.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantForgot
Texas Instruments: tops estimates.
It's interesting that the CEO/CFO of the companies that topped estimates says there no spillover of U.S. economy.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantForgot
Texas Instruments: tops estimates.
It's interesting that the CEO/CFO of the companies that topped estimates says there no spillover of U.S. economy.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantForgot
Texas Instruments: tops estimates.
It's interesting that the CEO/CFO of the companies that topped estimates says there no spillover of U.S. economy.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOh poor you! You make to much for the government to give you help. That must be a real bummer.
First, I'm not against helping people who deserve to be helped. This means helping people help themselves become better skilled and more productive. That makes our population more competitive in the global marketplace. How is giving free checks helping anyone? People have been consuming beyond their means and now we want to send them some more taxpayer money to spend because they have run out of available credit? Isn't that moral hazard?
Second, about making too much… I don't. I pay 38% of my overall income in taxes and my marginal rate is 48%. I live way below my means and believe in saving for a rainy day. Instead, I am seeing my savings evaporate due to increasing inflation and lower interest rates.
The policy of this current government is to penalize those who are responsible, those who have spent countless hours acquiring skills so that they can be successful.
The only way is to game the system by shifting from W2 income to 1099 and deduct everything, especially since we will be seeing increasing taxation towards already burdened middle income W2 earners in the future.
Exactly.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOh poor you! You make to much for the government to give you help. That must be a real bummer.
First, I'm not against helping people who deserve to be helped. This means helping people help themselves become better skilled and more productive. That makes our population more competitive in the global marketplace. How is giving free checks helping anyone? People have been consuming beyond their means and now we want to send them some more taxpayer money to spend because they have run out of available credit? Isn't that moral hazard?
Second, about making too much… I don't. I pay 38% of my overall income in taxes and my marginal rate is 48%. I live way below my means and believe in saving for a rainy day. Instead, I am seeing my savings evaporate due to increasing inflation and lower interest rates.
The policy of this current government is to penalize those who are responsible, those who have spent countless hours acquiring skills so that they can be successful.
The only way is to game the system by shifting from W2 income to 1099 and deduct everything, especially since we will be seeing increasing taxation towards already burdened middle income W2 earners in the future.
Exactly.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOh poor you! You make to much for the government to give you help. That must be a real bummer.
First, I'm not against helping people who deserve to be helped. This means helping people help themselves become better skilled and more productive. That makes our population more competitive in the global marketplace. How is giving free checks helping anyone? People have been consuming beyond their means and now we want to send them some more taxpayer money to spend because they have run out of available credit? Isn't that moral hazard?
Second, about making too much… I don't. I pay 38% of my overall income in taxes and my marginal rate is 48%. I live way below my means and believe in saving for a rainy day. Instead, I am seeing my savings evaporate due to increasing inflation and lower interest rates.
The policy of this current government is to penalize those who are responsible, those who have spent countless hours acquiring skills so that they can be successful.
The only way is to game the system by shifting from W2 income to 1099 and deduct everything, especially since we will be seeing increasing taxation towards already burdened middle income W2 earners in the future.
Exactly.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOh poor you! You make to much for the government to give you help. That must be a real bummer.
First, I'm not against helping people who deserve to be helped. This means helping people help themselves become better skilled and more productive. That makes our population more competitive in the global marketplace. How is giving free checks helping anyone? People have been consuming beyond their means and now we want to send them some more taxpayer money to spend because they have run out of available credit? Isn't that moral hazard?
Second, about making too much… I don't. I pay 38% of my overall income in taxes and my marginal rate is 48%. I live way below my means and believe in saving for a rainy day. Instead, I am seeing my savings evaporate due to increasing inflation and lower interest rates.
The policy of this current government is to penalize those who are responsible, those who have spent countless hours acquiring skills so that they can be successful.
The only way is to game the system by shifting from W2 income to 1099 and deduct everything, especially since we will be seeing increasing taxation towards already burdened middle income W2 earners in the future.
Exactly.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
CoronitaParticipantOh poor you! You make to much for the government to give you help. That must be a real bummer.
First, I'm not against helping people who deserve to be helped. This means helping people help themselves become better skilled and more productive. That makes our population more competitive in the global marketplace. How is giving free checks helping anyone? People have been consuming beyond their means and now we want to send them some more taxpayer money to spend because they have run out of available credit? Isn't that moral hazard?
Second, about making too much… I don't. I pay 38% of my overall income in taxes and my marginal rate is 48%. I live way below my means and believe in saving for a rainy day. Instead, I am seeing my savings evaporate due to increasing inflation and lower interest rates.
The policy of this current government is to penalize those who are responsible, those who have spent countless hours acquiring skills so that they can be successful.
The only way is to game the system by shifting from W2 income to 1099 and deduct everything, especially since we will be seeing increasing taxation towards already burdened middle income W2 earners in the future.
Exactly.
[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]
—– Sour grapes for everyone!
-
AuthorPosts
