Over 60k in Federal Taxes for 2015

a reply to: Metallicus

You PERSONALLY paid over $60,000 in Federal taxes?

Then you are very well-off. QUITE well-off. Maybe not 1%-level, but certainly in no position to be complaining about anything.

MOST of the country doesn't even make $30,000 a year! You're up there in the top 10%, so it's impossible to believe that you are in any way hurting, hungry, or strapped for cash.


Sheesh.
First world problems.

How big would your paycheck need to be to make you feel secure these days — or maybe even a bit wealthy?

In most places, it’s probably far larger than the U.S. median household income of $52,250 a year, which was echoed by a widely circulated Pew Research Center study.

Pew researchers tried to capture how Americans define upper-middle or upper class. They found that 40% of respondents who put themselves in the higher classes had an annual household income of $100,000 or more. Likewise, U.S. Census Bureau data show that households earning over $100,000 represent the top 20 percent of all earners in America.

Source

a reply to: Metallicus

Anyone who says we need to pay MORE in taxes is messed up in the head. The only person who would say that is someone that is not already paying taxes. Also, what percentage of my taxes goes to anything of benefit to humanity? Most of my money just goes to service the ridiculous debt our failed Federal Government has accumulated of worse to pay to bomb or drone strike some poor schmuck in the Middle East.

Couldn't agree more, obviously you may know I do support social programs. But the endless wars, bombing, foreign aid, and destruction of the American people's image has to stop. The war on terrorism is a huge waste of lives, time, and shows the true greed from our MIC.

a reply to: BuzzyWigs


Considering that half of the world's population doesn't have access to clean water, proper food or medical care. Maybe the people living in poverty in america should just stop complaining.

First world problems indeed...

a reply to: Bluntone22

I have no idea whether you are snarking or agreeing. But it doesn't matter.
If the OP earns enough to have that much owed in taxes, then he's not by any means "struggling."

It just is what it is.
I don't like paying taxes, either - and wish I had some say-so in how those taxes are spent once taken - but I don't.
Is government bloated, inefficient and wasteful? Yep. Does it spend too much on supporting other countries and on warfare? Yep. No argument there - I just have trouble feeling sorry for someone who is earning enough to owe more than the average American household brings in.

Now, if OP wants to share what his Adjusted Gross Income was, we could have a real conversation. But, he didn't.
Taxes are RELATIVE to one's earnings.

Income tax is what happens when you let the banksters control your nations money.

a reply to: Metallicus

So, if that is based on personal income then you fall into the 1% category according to the link below. Now, do you mind if we all put on masks and occupy your house?

indy100.independent.co.uk...

ETA: The occupy thing was intended as a joke, edited to add this in case someone thinks I've got some issue with people earning good money.

originally posted by: Bluntone22
a reply to: BuzzyWigs


Considering that half of the world's population doesn't have access to clean water, proper food or medical care. Maybe the people living in poverty in america should just stop complaining.

First world problems indeed...

If you don't believe there is poverty in the U.S. then you are sadly mistaken. Clean water, proper food and medical care are also not available to many people in poverty right here in the U.S. The only difference is we are a first world country.

People probably shouldn't bash the OP and assume anything about his income. Maybe he had a hardship and had to cash in his 401K and now has to pay the 10% penalty. Maybe he had a lot of short term capital gains, or works in an industry that has profit sharing, etc. Maybe he was audited for previous years and owes back taxes.

Too many people jump to conclusions and thinks he makes $400k a year and say boo hoo, but even if he does, good for him.

Once upon a time, a company did this, and the IRS forced them to stop:

Every payday, all employees should be paid in cash. Line them up at a window, get their name, count out the money to them, and hand them a receipt. From there they immediately go to another line to pay their federal income tax. The tax window takes the receipt, calculates what they owe, and takes the money right there. From there they go to the state income tax window, local tax window, FICA tax window, etc.

If you want to see the people rise up for lower taxes, let them see cash money coming out of their pocket every week, instead of numbers on a piece of paper.

a reply to: Metallicus

We all have to pay taxes to feed the Rothschilds loan debt in perpetuity. Compounding interest. Fiat money. We are all fed up.

Maybe I have a weird memory, ( I do), but THIS is why Metallicus likely has to pay so much into taxes.

originally posted by: Atsbhct
Maybe I have a weird memory, ( I do), but THIS is why Metallicus likely has to pay so much into taxes.

Damn, you don't have a weird memory, you have an excellent memory.
I didn't think our metal friend was a 1 percenter...

a reply to: VictorVonDoom

I love this idea, and I've always felt the same way about health insurance. People aren't as bothered as they should be by how much drastically higher the costs in the US are than anywhere else, because a large portion is paid by employers (thus reducing wages.) If everyone was just paid more instead, then had to fork over the full amount, people might react more vehemently against the broken system (broken before the ACA, still broken under the ACA.)

I understand Metallicus' indignation at his $60k bill. I've paid high taxes in the past ($30k+ in federal taxes alone, not including medicaid, social security, etc.) When I was paying much higher taxes than my broke @** now, it didn't bother me so much, but what did bother me is that there's no recognition for having paid so much for a few years, then having my income tax an extreme dive after. If my income over the last 10 years had been averaged per-year, I'd have paid a fraction of what I have overall. Instead, all that money I paid has already been used to incinerate people in the middle east, patrol poppy fields, "bail out" banks, pay for Senator's hookers and drugs, etc., and now I'm juggling and selling posessions in order to keep the utilities on and "put food on my family."

Yep, in fairness I can definitely understand why my American friends hate paying their taxes. Because you get comparatively little back for it.

Poor quality schools. A judiciary that seems to actively hate the people. Poorly maintained public amenities. And vast amount of waste, corruption, overseas adventures, and subsidies for billionaires.

At least in the UK our tax burden, while much higher than in the US, does at least give us all free healthcare.

a reply to: Metallicus

You need to hire a good accountant or fire your existing one...that is too high of taxes you or anyone should be paying assuming...it is like working for free!

a reply to: peter_kandra
Exactly, because, and I'm not positive, I think the OP owns a business, and these are business taxes.

Sheesh people.

originally posted by: nonspecific
a reply to: Metallicus

Ouch.

Without seeming nosey can I ask what kind of percentage of income that would equate to as a non US member.

It seems a lot but I suppose it's all about perspective.

Sorry about the delay, had to sleep after finishing the taxes.

I am technically in the 33% bracket, but it doesn't work out to that exactly because of deductions and charitable donations. However, when you factor in other taxes I pay (State, Local, Sales, etc) I am closer to being taxed at 40%.

originally posted by: Atsbhct
Maybe I have a weird memory, ( I do), but THIS is why Metallicus likely has to pay so much into taxes.

Actually that is a good point, but it is all in an IRA and passed to me without any taxes. I am only 49 right now so it will be awhile until I can really access that money.

Can confirm, as someone who is considered "middle class" by those making less than 40k a year, I pay about 30-35% to the feds, and an overall tax rate in the 40-45% after you break down where the money goes, and then start considering what percentage of each purchase is tax (gas is a good example) and it creeps up closer to 50%.

And then there's the interest payments on loans, which are more or less required to own property these days.

Don't try and argue that paying rent gets you out of that... just means you're paying someone elses interest payments, plus a little capitol to them.

originally posted by: the owlbear

originally posted by: Atsbhct
Maybe I have a weird memory, ( I do), but THIS is why Metallicus likely has to pay so much into taxes.

Damn, you don't have a weird memory, you have an excellent memory.
I didn't think our metal friend was a 1 percenter...

Hah, I wish I was a 1%.

The taxes this year are from my businesses and property income. I try to have multiple streams of passive income so I don't have to do a damn thing if I don't want.

Doing nothing has always been my dream and I had to work hard to get here.