EPTUS Politics Mega-thread - Page 1939
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Read the rules in the OP before posting, please. In order to ensure that this thread continues to meet TL standards and follows the proper guidelines, we will be enforcing the rules in the OP more strictly. Be sure to give them a re-read to refresh your memory! The vast majority of you are contributing in a healthy way, keep it up! NOTE: When providing a source, explain why you feel it is relevant and what purpose it adds to the discussion if it's not obvious. Also take note that unsubstantiated tweets/posts meant only to rekindle old arguments can result in a mod action. | ||
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Simberto
Germany11813 Posts
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cLutZ
United States19574 Posts
On May 09 2015 05:28 Simberto wrote: Still, it takes a lot out of the complaint about "not wanting to pay for x with my taxes", when you do not, in fact, pay any taxes, and thus not a cent out of your pocket goes towards x. Fairly sure if he earned 300k you could just do the opposite argument... So it's irrelevant. | ||
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Plansix
United States60190 Posts
On May 09 2015 06:00 cLutZ wrote: Fairly sure if he earned 300k you could just do the opposite argument... So it's irrelevant. There is a special level of disingenuous as both ends of the spectrum. But at least the wealth side has some skin in the game. | ||
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cLutZ
United States19574 Posts
On May 09 2015 06:03 Plansix wrote: There is a special level of disingenuous as both ends of the spectrum. But at least the wealth side has some skin in the game. Of course, its win-win for pro-taxers. Everyone lives on the spectrum of noRightToComplain to greedySonOfABitch. | ||
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Chewbacca.
United States3634 Posts
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KwarK
United States43957 Posts
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SpiritoftheTunA
United States20903 Posts
On May 09 2015 06:10 KwarK wrote: The majority of people in the US pay taxes voluntarily, at least on a Federal level. elaborate, please? | ||
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oneofthem
Cayman Islands24199 Posts
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Chewbacca.
United States3634 Posts
Median US income is about 51k a year --> Contribute 17.5k to 401k and 5.5k to Traditional IRA. Your taxable income is now only 28000, thinking at this income you aren't going to be paying federal taxes. That's 50% of people who bring in income right there -- And then there are a lot of people without income raising the percentage even higher. Could also be bringing in a lot of income tax free from municipal bonds | ||
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KwarK
United States43957 Posts
You can defer or negate taxation on around $83,000 of income in a two person household. You just need to understand how the system works and how to make it work for you. People should take personal responsibility for reading the tax code before they complain about how other people should take personal responsibility. That said the majority of people complaining about taxes fail to understand the basics of how a progressive tax system works so maybe they should just keep working and paying. | ||
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KwarK
United States43957 Posts
On May 09 2015 06:21 Chewbacca. wrote: Median US income is about 51k a year --> Contribute 17.5k to 401k and 5.5k to Traditional IRA. Your taxable income is now only 28000, thinking at this income you aren't going to be paying federal taxes. That's 50% of people who bring in income right there -- And then there are a lot of people without income raising the percentage even higher At 28000 you pay taxes on the 17700 not covered by standard deduction and exemption. You then get $1000 back from the Saver's Credit leaving you with a whopping $700 tax bill on 51k of income, 0 if married and she's not earning. Then send it through the 401k->tIRA->ROTH pipeline and it comes out tax free 5 years later with some nice investment gains tax free with it. | ||
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oneofthem
Cayman Islands24199 Posts
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Sermokala
United States14107 Posts
It's like using coupons for food buying you're just wasting money if you don't do it. It might be a class and racial gap due to poor people not having enough to hire a tax lawyer for advice and having to actually pay taxes. | ||
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Chewbacca.
United States3634 Posts
On May 09 2015 06:23 KwarK wrote: At 28000 you pay taxes on the 17700 not covered by standard deduction and exemption. You then get $1000 back from the Saver's Credit leaving you with a whopping $700 tax bill on 51k of income, 0 if married and she's not earning. Then send it through the 401k->tIRA->ROTH pipeline and it comes out tax free 5 years later with some nice investment gains tax free with it. In case my edit was missed --> Can be bringing in income tax free from investments in municipal bonds | ||
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KwarK
United States43957 Posts
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KwarK
United States43957 Posts
On May 09 2015 06:26 Chewbacca. wrote: In case my edit was missed --> Can be bringing in income tax free from investments in municipal bonds I've never understood those. Isn't the tax free nature simply priced into the bond returns so the returns are lower than their taxable equivalents? Give me VTSAX on a ROTH ladder anyday. | ||
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Sermokala
United States14107 Posts
On May 09 2015 06:29 KwarK wrote: I've always felt coupons was a false economy. The time spent learning to coupon, researching what is available at any given time, to go to the various stores and buying things you might not necessarily have bought at all makes me feel like it just gives a false sense of saving. I could be wrong, it's not my thing, but I think you're better off with habits like churning. Usually you get coupons to a single store in a newspaper or at the place and I at least just compare the stuff I want with the stuff with a coupon And seeing what's cheaper. Otherwise the stores generic brand is as good and cheaper. | ||
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Chewbacca.
United States3634 Posts
On May 09 2015 06:30 KwarK wrote: I've never understood those. Isn't the tax free nature simply priced into the bond returns so the returns are lower than their taxable equivalents? Give me VTSAX on a ROTH ladder anyday. Agreed in that I would much rather invest in many things over municipal bonds -- But the topic was getting the income while avoiding taxes so I threw it out there. Not entirely sure about the having lower rates, for the most part I'm sure it's true. Edit: Aren't most vanguard indexes pretty tax friendly so it'd be better to keep them outside an IRA and put your less tax friendly investments in the IRA? Kind of getting off US Politics now though | ||
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Plansix
United States60190 Posts
On May 09 2015 06:29 KwarK wrote: I've always felt coupons was a false economy. The time spent learning to coupon, researching what is available at any given time, to go to the various stores and buying things you might not necessarily have bought at all makes me feel like it just gives a false sense of saving. I could be wrong, it's not my thing, but I think you're better off with habits like churning. They only work in combination with big sales and supply and demand. I know people with big families that use them to buy in bulk and freeze a lot of it for long term storage I am not sure if the man hours they put in make it worth it. But they have a irresponsible number of children, so it must add up. But they are worthless if you are just feeding yourself. | ||
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JonnyBNoHo
United States6277 Posts
On May 09 2015 06:30 KwarK wrote: I've never understood those. Isn't the tax free nature simply priced into the bond returns so the returns are lower than their taxable equivalents? Give me VTSAX on a ROTH ladder anyday. Yes it is priced into the bonds. They can still be a good deal depending on your personal situation of course. | ||
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