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  1. #51
    Join Date
    Jun 2012
    Location
    Sugar Land, TX
    Posts
    610

    Default The Affordable Boat Act

    David, you're taxes are going up because you just got married. You HAVE to file jointly now which means your deductions went down. Ah the joys of marriage.

    On a not about the original point. My wife and I are self employed. Last year we payed $295 a month for insurance with a $7,200 deductible. That plan has been cancelled and I've been offered a comparable plan at $695 a month. Just a little increase. I would shop for a new plan in the health care marketplace but I'm stuck in a loop on the healthcare website and nobody can figure out why yet. So I wait..........
    2011 Mobius LSV

    Ron

  2. #52
    Join Date
    Jan 2003
    Location
    Minnesota and Wisconsin
    Posts
    1,134

    Default

    Quote Originally Posted by E4NASH View Post
    I am FAR from wealthy, but I do believe everyone should pay their fair share. In my opinion a flat tax is the better way to do things. No deductions no credits, no exemptions...nothing. EVERYONE pays the same percentage. So Joe the plumber over here who makes 35K pays 10% (or whatever it is) $3,500, and Harry Rockefeller over here who make 3.5 million pays $350,000. Both pay the same percentage however the more you make the more you pay. THAT is FAIR and equal. Everyone should pay the same according to their income level.
    Pretty sure that 50% of all tax returns filed end up with 0 tax liability, mostly due to low income. And the top 5% of earners already pay over 90% of income tax collected. So this whole concept fo "Fair Share" has no meaning. Recognizing that you can't get blood out of a rock, I don't know what the solution is. "... tax the rich, feed the poor, till there aren't no rich no more ...." Ten Years After. I have a basic problem with the concept of "Q: How much do I owe?, A: How much ya got?", but the money has to come from somewhere.
    If you believe something to be true, it will be - in it's consequences.
    http://bensonwdby.home.comcast.net/

    1999 Mobius - DD - 5.7L Carb - Perfect Pass

  3. #53
    Join Date
    Jul 2013
    Location
    Saskatoon, Saskatchewan
    Posts
    123

    Default

    Found this statistic:
    In 2007 the richest 1% of the American population owned 34.6% of the country's total wealth, and the next 19% owned 50.5%. Thus, the top 20% of Americans owned 85% of the country's wealth and the bottom 80% of the population owned 15%. Financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 42.7%, the next 19% of Americans owning 50.3%, and the bottom 80% owning 7%.[9] However, after the Great Recession which started in 2007, the share of total wealth owned by the top 1% of the population grew from 34.6% to 37.1%, and that owned by the top 20% of Americans grew from 85% to 87.7%. The Great Recession also caused a drop of 36.1% in median household wealth but a drop of only 11.1% for the top 1%, further widening the gap between the top 1% and the bottom 99%.
    2008 Moomba Mobius LSV Ballast III (stock), Heater, Roswell Quad Spin Pro, Bimini

  4. #54
    Join Date
    Mar 2010
    Location
    Arkansas
    Posts
    2,491

    Default

    ^ This!! So much this!!

    Working with the stats Benson mentioned ... "And the top 5% of earners already pay over 90% of income tax collected" ... that could mean that the top 5% of earners pay too much tax OR it could mean that the top 5% of earners bring in substantially more than the 95% below them.

    I've seen statistics saying that to get into the top 1%, you need to make 400k. 400k!!! is a 1%er? That's physicians and successful small business owners, not the "elite". You should be making serious bucks to be in the top 1% of the nations earners.

    "you can be a 1 percenter in Arkansas as a whole with family income of $254,000." ... " in Arkansas, 43 percent have family income — family income — below $30,000 a year. You're in the upper third of all Arkansas families if you and your spouse make $50,000 or more."
    2006 Supra 24SSV

  5. #55
    Join Date
    Mar 2010
    Location
    Arkansas
    Posts
    2,491

    Default

    RCA, you have the option to file separately but in most cases it will benefit you to file together.

    From the people I have talked to, individuals like you seem to be the most effected. Guys that had insurance to cover catastrophic events (high deductible plans). They are the ones being forced into more expensive plans.

    To top it off, just heard on the radio the insurance industry isn't interested in extending everyone's plans 1 year while the bugs get worked out. Why? Bc they are about to cash in on guys like you while the ACA takes the blame. Administration screwed up this roll out but hopefully they can find a way to work together to iron out the issues.
    2006 Supra 24SSV

  6. #56
    Join Date
    Jun 2008
    Location
    De Pere WI
    Posts
    4,177

    Default

    Quote Originally Posted by KG's Supra24 View Post
    hopefully they can find a way to work together to iron out the issues.
    you don't seriously believe that line you just typed. we saw how well they work together during the last financial crisis.. they don't care. want some real progress on issues there? fine them a hefty penalty every day the govt is closed and eliminate their free healthcare.
    '06 Supra Launch 20SSV-gone but never forgotten

  7. #57
    Join Date
    Jun 2012
    Location
    Sugar Land, TX
    Posts
    610

    Default The Affordable Boat Act

    Actually, being a former CPA, I'm pretty sure you do not have the option of filing separately. If you are legally married you are required to file joint.
    2011 Mobius LSV

    Ron

  8. #58
    Join Date
    Jun 2012
    Location
    Sugar Land, TX
    Posts
    610

    Default The Affordable Boat Act

    I did say former, as in 25 years ago, lol. So you can file jointly or as Married Filing Separately, but not an individual return like you could before you were married. The MFS usually is worse than the MFJ option if you both work.
    2011 Mobius LSV

    Ron

  9. #59
    Join Date
    Jan 2003
    Location
    Minnesota and Wisconsin
    Posts
    1,134

    Default

    http://money.cnn.com/2013/08/29/pf/t...-income-taxes/

    So even if you took all the income from the bottom half of the eraners (not just some percentage in the form of a tax) you still would not have enough to be a significant contributor to the economy.

    So you take more from the top half. At what point does the top half see no incentive to be in the top half? Probably never, but it could happen.

    There is no question that there is an income gap - but that does not mean that those at the bottom 'deserve' money from those at the top. At least not in a capitalistic society. That's not to say that it wouldn't be nice to have corporations share the wealth a bit - sending more to the workers and a little less to the officers. Who wouldn't want more. It's a complex situation to say the least. But like the Eagles say - Get over it - http://www.youtube.com/watch?v=1H-Y7MAASkg
    If you believe something to be true, it will be - in it's consequences.
    http://bensonwdby.home.comcast.net/

    1999 Mobius - DD - 5.7L Carb - Perfect Pass

  10. #60
    Join Date
    Jan 2008
    Location
    Keuka Lake, NY
    Posts
    5,858

    Default

    This should be in the joke of the day.

    Even if your married with a family , have a job and live in another state your covered until 26
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    2012 Möbius XLV~ Loaded & Exiled
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