The Soapbox

orangenblue

Joined: 12/07/2002 Posts: 1118
Likes: 785

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"Struggle" isn't the right word....but being tight is ....


45% tax rate on $450K (not top ...but something that a lot of NYers and Cali in that income tax experience) leaves $247k
Two kids in private college with no aid =- $140-160k a year alone....take mid point and that leaves $100K
Median home price for all of Cali is over $700k....factor in other expenses....there isn't much left to save for retirement...but maybe the government will fully take care of that.



(In response to this post by southdenverhoo)

Posted: 09/13/2021 at 7:05PM


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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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