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In reply to the discussion: I teach school for 40 grand a year before taxes. [View all]arely staircase
(12,482 posts)81. that is awesome
and the reason we do the work we do. it certainly isn't for the money and it certainly isn't to make our kids the best little standardized test takers in the world.
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at the end of the day, I know I have made a very positive impact. Here is a post I received from a
demtenjeep
Jan 2012
#8
And yet they won't be happy until they bust our unions and take even more.
Starry Messenger
Jan 2012
#13
Not if he's put himself in a 'S' corporation. They're exempt from the 2.9% Medicare
sinkingfeeling
Jan 2012
#51
Yes, without having the exact return in front of us it is hard to know the exact figure.
former9thward
Jan 2012
#55
He'd only pay SS on the first $106,000. The speaking fees were a small fraction of his income,
bornskeptic
Jan 2012
#59
Starting in 2013, high income households will pay 3.8% to medicare, on investment income
lacrew
Jan 2012
#27
Sorry my rate is twenty-five percent - still almost twice that of Mittens nt
arely staircase
Jan 2012
#22
You seem to keep speaking of marginal rate, while this whole discussion is about effective rate ...
oldhippie
Jan 2012
#36
You simply are defing IRS tax tables. But keep paying that 25% if you wish.
former9thward
Jan 2012
#37
Either comparison is valid - and as the SS and Medicare are paid in one case and not the other,
karynnj
Jan 2012
#67
The federal tax rate on $40K is not 30%. Mine is less than that and I make more than you do.
Honeycombe8
Jan 2012
#42
If you look at your Social Security taxes, + compare them to Rmoney's, you'll be even more outraged.
AnotherMcIntosh
Jan 2012
#57