The Soapbox

BocaHoo91

Joined: 06/03/2005 Posts: 31156
Likes: 52684

What's this?

The married couple “gotcha” seems weak.


the household income for the increase is still $450k for the married couple to see an increase even if the one spouse makes less than 400k

No issue with the tobacco or alcohol taxes. I don’t smoke, but I do drink. If this puts a meaningful dent in you’re budget, you’re probably smoking or drinking too much.

The 37% to 39.6% increase is expected. I don’t love it personally, but that was going to happen no matter what. I’m most concerned about the boneheaded proposal on capital gains. Not sure what the proposal is for CG taxes in the budget proposal.

(In response to this post by orangenblue)

Posted: 09/13/2021 at 4:19PM


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Current Thread:
 
  Hiding $3 Trillion in Proposed Tax Increases and Top Marg Tax of 59.7% -- orangenblue 09/13/2021 3:18PM
  There’s a lot of good data in there but some of the arguments are so -- 111Balz 09/13/2021 5:52PM
  Don't worry, There's not a chance in Hell that this blll passes ** -- Hoogle.com 09/13/2021 5:10PM
  The married couple “gotcha” seems weak. -- BocaHoo91 09/13/2021 4:19PM
  Seems like a strong point to me; will impact a lot of people in SF, NYC, DC -- orangenblue 09/13/2021 4:50PM
  The proposed top rate on capital gains is 25%, up from the current 20%. -- PBCHoo 09/13/2021 4:31PM
  I thought some historical perspective on capital gains would be useful. -- southdenverhoo 09/13/2021 5:57PM
  Any discussion of taxing carried interest as ordinary? -- tchoo 09/13/2021 4:41PM
  Good to know. At the same $400k/$450k threshold, -- BocaHoo91 09/13/2021 4:36PM
  Same income threshold. -- PBCHoo 09/13/2021 4:47PM
  Interesting. Lived in the house from -- BocaHoo91 09/13/2021 4:53PM
  Your analysis is correct. See IRC § 121(b)(5). ** -- PBCHoo 09/13/2021 5:00PM
  Thanks. The other option is to rent it until the kids go off to -- BocaHoo91 09/13/2021 5:06PM
  One other option... -- PBCHoo 09/13/2021 5:11PM
  Sounds like responsible leadership to pay for your spending increases vs. -- tchoo 09/13/2021 3:40PM
  What about re-allocating spending to most beneficial uses? We waste too -- orangenblue 09/13/2021 4:22PM
  Lets do both? -- tchoo 09/13/2021 4:28PM
  Agree. ** -- 111Balz 09/13/2021 5:18PM
  Silly post -- TomKazanski 09/13/2021 5:00PM
  There is a penalty long term to wasting money. Bankruptcy and activist -- orangenblue 09/13/2021 4:36PM
  It’s my belief that waste builds over a company lifecycle. -- 111Balz 09/13/2021 5:22PM
  Doesn't work. Totally different incentive structure. ** -- Los Angeles Hoo 09/13/2021 4:40PM
  What doesn't work? ** -- orangenblue 09/13/2021 4:52PM
  Your second paragraph... -- Los Angeles Hoo 09/13/2021 5:19PM
  I completely agree with you....but we should recognize the dynamic -- orangenblue 09/13/2021 5:46PM
  Agreed, but you are referring to a sane world and not the world in which... -- Los Angeles Hoo 09/13/2021 6:12PM
  Unfortunately, I agree ** -- orangenblue 09/13/2021 6:42PM
  Yes, tax the rich. That’s good policy that the left supports. ** -- WahooMatt05 09/13/2021 3:33PM
  I know they are trying to close the loopholes that the very rich use to -- Wahoos6 09/13/2021 4:28PM
  $450K for married filing jointly in NYC doesn't seem "rich" considering COL -- orangenblue 09/13/2021 4:18PM
  All those rich smokers and hourly laborers? -- Hoodafan 09/13/2021 3:38PM
  Frankly, who gives a rip about smokers? If they don’t want to pay the tax… -- SixerHoo 09/13/2021 4:07PM
  If deficits are bad, we need to tax someone. Those with the most -- WahooMatt05 09/13/2021 3:41PM
  Maybe we should first figure out what is wasted/inefficient and reallocate -- orangenblue 09/13/2021 4:38PM
  With regressive nicotine taxes and "hiding" corporate taxes that first and -- Hoodafan 09/13/2021 4:01PM
  No one is forced to pay regressive nicotine taxes ** -- NJHoo 09/13/2021 4:11PM
  Pssst, there was this pandemic in 2020 and millions of people -- 111Balz 09/13/2021 4:07PM
  Bunch more gonna be unemployed due to vaccine mandates ** -- FrankGallagher 09/13/2021 5:00PM
  That’s their choice ** -- 111Balz 09/13/2021 5:13PM
  The definition of rich is going to change...Good Afternoon Rich People !!! ** -- Tuckahokie 09/13/2021 3:34PM
  Bbbut he's a moderate! ** -- Hoodafan 09/13/2021 3:30PM

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