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Fri Jan 4, 2013, 01:23 PM

Pay up, You RICH PIGGIES!

After about 12 years of being hounded by "Credit Agencies" since my factory closed down not long after King Chimpy took to the throne, I can't tell you how good it feels to say that. Thanks, Obama! And if any of them try to give you crap, I volunteer to go knocking on their door to collect.
I posted an op of the same title as this on my local message board, and basked in the schadenfreude as the replies from the wingnuts came back thick and furious. Pure music to my ears! It kinda went like this....



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Reply Pay up, You RICH PIGGIES! (Original post)
warrprayer Jan 2013 OP
golfguru Jan 2013 #1
warrprayer Jan 2013 #2
golfguru Jan 2013 #3
warrprayer Jan 2013 #4

Response to warrprayer (Original post)

Fri Jan 4, 2013, 01:31 PM

1. The rich will pay 4.6% more, while the poor pay 2% more

Everybody is paying their fair share. That is good!
The rich will pay 4.6% more income tax. Well, actually not, because that rate
applies only on the income ABOVE $450,000. So their average tax rate increase
could be lower than the poor working stiffs.
The poor working folks will pay 2% more in social security tax.

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Response to golfguru (Reply #1)

Fri Jan 4, 2013, 01:37 PM

2. I'm terrible at math

... but judging from the squeal level the rich are not at all happy with the situation. That's good enough to put a wide smile on my face. They should make the damn tax retroactive to make them pay back all they stole during the Bush years!!!!

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Response to warrprayer (Reply #2)

Fri Jan 4, 2013, 01:46 PM

3. No worries...most people are bad at math

The tax rates apply to your income bracket only.

For example if your yearly AGI income is $600,000

Then you will pay 39.6% on income above $450,000 meaning 600,000-450,000=on
income of 150,000

Below $450,000 you will pay the Bush rates which were made permanent.
So, if my AGI is $450,000 and yours is $600,000, your tax will be $6900 more than mine.

On AGI of $600,000, that amounts to tax increase of 1.15%.

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Response to golfguru (Reply #3)

Fri Jan 4, 2013, 01:58 PM

4. thanks!

um.... what if my income is $0.00?

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