Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Showing Original Post only (View all)I teach school for 40 grand a year before taxes. [View all]
Last edited Tue Jan 24, 2012, 08:56 PM - Edit history (1)
I have a 2000 dollar deductible on my health insurance- better plans are available but I can't afford them.
My tax rate is about twice Mitt Romney's before deductions and still more than he pays afterwards. I won't argue here the worth of what I do for a living against the importance of his profession - shuffling money around and laying people off. But the fact that I am hit with twice the taxes he is, relative to income, is absolutely disgusting.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
81 replies, 11481 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (80)
ReplyReply to this post
81 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
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