Latest responses to “Federal Tax Brackets 2009” Copyright 2013, MoneyBlueBook.com 394570 2010-11-21T23:02:31-08:00 Eddie Kirkland I BELIEVE THAT THERE SHOULD BE A LAW TAXING NON BUSINESS OWNERS WHO HAVE 5 TIMES OR MORE THE SINGLE PAYER AVERAGE U.S. INCOME TO PAY YEARLY THE HIGEST TAXES POSSIBLE. THERE SHOULD BE NO HIGH INCOME PEOPLE WHO HAVE A CITIIZENSHIP IN AMERICA AND DO NOT OWN A BUSINESS THAT DOES NOT PAY THE ABOVE TAX, BUT ALLOW ALL BUSINESS OWNERS WHO HAVE A U.S. CITIZENSHIP IN THE U.S.A. ANY INCOME THEY MAY MAKE AT THE LOWEST TAX RATE. EDDIE KIRKLAND , WACO, TEXAS 394560 2010-11-11T12:33:17-08:00 m king There is a perception in the country that the wealthy may not be pulling their weight on taxes. Less well off people, at least some of them, look at their cars, homes, and the beautiful parks and public works that sit nest to their homes and they wonder. How do they do it? I chose to work in the public sector and have no complaints with the meager pension that allows me a small mobile home in a not great urban center in a high population area. I pay my taxes gratefully for what I get and have never felt spoiled. Early in my career I worked two jobs to make ends meet, though I could have chosen a more lucrative career that was wide open for me. Instead I chose public service. Thanks to a generous higher education program that was government funded, I completed a masters degree and an immeasurable boost in job availability. Few other countries allow such a choice. I have been in other countries, both in the service and as a visitor. People are not free to choose their career. Even in a free country like England, those not in the upper class are selected out of most better paying and fulfilling careers. America seems to have lost a competitive edge in the world (our stock market is next to last in world markets)and a turn away from higher education, especially in those areas such as science and math that other countries are excelling at. This waste in American talent will continue to see foreign markets dominated by those who see America in decline. This country is not broke. We still have mighty natural resources and the work of generations who worked hard and saved and built this country into a refuge for the world. If i am wrong, then why is everyone beating down the doors to get in? Surely they aren't all inclined to destroy and defeat us? The rich pour a lot of money into this country through philanthropy and by providing jobs through owned concerns that pay taxes. After years of loose spending there just is no other way to solve our problems but to make the hard choices. Reduction in spending in all areas by getting rid of waste and inefficiency and cuts to the bone. Loans for education are a priority for youngsters with the scores. Cut spending on colleges with a high freshman drop-out rate, including community colleges. 393410 2010-04-13T19:03:46-07:00 John T. Look, it's very simple folks. The graduated income tax IS in and of itself socialistic. But, As long as times are good, "most" are content. But, when times get tough, and our free market economy goes through one of its inevitable slowdowns, (there ARE periods of boom and bust), you can count on the liberals come screaming once again with their class warfare crap, of how "bad" the "common man" has it and how good the "rich" have it, and how the "rich" "owes" it to society to pony up EVEN MORE because they obviously have it, and don't "need" it. Now here we are with the entire country broke and their coming for more money to the only ones left who have it: Those who have made it, but, more importantly, was responsible with it and SAVED AND INVESTED IT for their OWN better tomorrow. The problem with America is this: The people of this country have become spoiled, entitled, and simply lazy, and big government has helped to push them along each step of the way with its "help". 394150 2010-04-12T13:36:55-07:00 jack Well let me say we still have a unjust goverment and system regardless of the system at hand. i have to write a 6k check to the goverment from Bank of America sending me a 1099 for a debt we settled. I am lost on how I should be required to pay for their 25% intrest while fighting them over a mnissed payment the accepting a settelment amount. I have closed just about all my cards. They jacked my rates from 3-6% to 18-27% because we made some law changes. Now I am forced into bankrupcy due to the system. They had this note for many years and made a good profit at 8% so if they wrote the balance off why do I pay federal taxes on the amount? The system is flawed and the F-N half black eating good realy could not care. I ready to move out of this country where you are guilty untill proven inocent and your taxed on money you never recived. Constitution my ass , this is survival of the richest. 394300 2010-04-11T23:25:57-07:00 phil pauley Good riddance Andrew K !!! I am ashamed that you are one of my fellow citizens. Your views are nonsense/ I can understand why you get tossed out of bars! It might be a good idea for you to look at the Constitution ... Amendment XVI almost 100 years ago authorized Congress to collect Income Taxes, it isn't a nasty Socialist /Obama scheme! It was necessary back then because high tariffs were reduced and money was needed to pay for World War One. Unfortunately we still have a huge amount of military spending and must "provide for the general welfare"(see the Preamble); you know all those old and sick people,those schools and highways,etc,etc. You gotta be a Tea Party addict to not understand that the world has progressed a bit since 1776 !!! 394100 2010-04-11T05:36:55-07:00 Andrew K Lew, well said! I think this country is finally waking up to the realization that the left are hypocrites and taking away the rights guaranteed in the Constitution. Most should be in jail. Just tonight, I had two bar employees (or "bouncers") push me down a public street saying I couldn't stand there (in a public street). I was doing nothing illegal, but two police officers (who were obviously bribed) said I had to listen to them. This is society gone mad, left-winged government officials, weak-minded and oppressive, building a new country that I, admittingly, am ashamed to be a part of. Never, in my life, before Obama and Pelosi, have I said this: I am ashamed to be an American citizen! This country is in for what it voted for: handouts, disincentive, high taxation, bankruptcy, and the like. Bottom line: all of the rational, "greedy" young, hard-working professionals are not being heard. I'm leaving, this fight is not one that can be won through reason or objective correct economic policy. Good riddance to Rick and the rest of the left, I hope you enjoy what the USSR was! 393800 2010-04-06T19:58:29-07:00 phil pauley Andrew K, Thanks for your comments...I think in essence we agree! In reviewing my comments (154) I should have said in(1) "There are no steps in the EFFECTIVE tax rates as you go from one tax bracket to the next", which is my main point, but is often misunderstood. You are quite correct in pointing out that there are steps in the marginal tax rates but there are, of course, no steps in the effective tax rates. You are also correct to point out that the "next dollars" are taxed at their marginal bracket rates but the resulting effective rates are always lower (except in the first tax bracket). My only disagreement is your calling the effective tax rate the AVERAGE tax rate... they are the ACTUAL tax rates, not the "average". I hope a few more people join in to help clarify these points instead of a lot of weird comments!!! 394540 2010-04-06T11:56:22-07:00 Andrew K Phil, Looking at your earlier statement, I think you may be confusing marginal tax rates with effective tax rates. The effective tax rate is the AVERAGE tax rate paid. For example, if your tax liability is $20K on $100K, your effective tax rate is 20% (like your example above). The marginal tax rate is the tax ON THE NEXT DOLLAR of income earned. To continue with the example before, at $100K, your next $1 of income will be taxed $.28 (we will exclude deductions and credits to simply the illustration), but your effective tax rate will be lower. In a progressive income tax rate system, your effective tax rate grows steadily over time but will never be as high as your marginal tax rate after leaving the lowest tax bracket. In essence, effective (or weighted average) tax rate increases in a steady fashion with income where marginal tax rates (taxes on the next dollar of income) "step up" suddenly at certain trigger points (i.e. from 20% to 25% for single filers at $82,250). 394520 2010-04-05T11:08:38-07:00 Rick B lew...this country will always have some degree of socialism. I guess you're all for eliminating police and fire protection, too? That's a form of socialism. We all pay taxes so that if one of us needs those services, they are there. So are taxes for roads and bridges. So is insurance. So is SS. So is Medicare. Are you for eliminating all of those things and making a go of it totally on your own? I take it you're all for going back to riding a horse around town since there won't be any paved roads to ride on. Some people just seem to go overboard with this whole socialism thing as a means to vent. Just my opinion. My mom and dad had huge Medicare bills over the last few years and they paid nothing because they have a supplemental policy that pays whatever Medicare doesn't pay. Without it, they'd be broke. Where would your mom be without her socialistic Mediciare? Unfortunately, we Americans are very spoiled. We've lived a life of milk and honey for decades and now that the rest of the world is wanting what we have, it's getting more difficult for us to stay ahead of the pack. Looks like we've decided to fight each other instead of banding together and doing what's right and productive. I agree that many politicians are corrupt. However, there are some that really want to do good. Problem is, you can't always stay in office with good intentions. Our country is in for some very tough times ahead. I sure hope we get through it. 393880 2010-04-04T17:55:06-07:00 Rick B Taxes suck...if your son's income is truly the same as last year, his taxes should be about the same. Therefore, there has to be an issue with the withholding amount or loss of some deduction. More of your son's income was subject to the 10% bracket in 2009 compared to 2008 rather than the 15% bracket. What you need to compare is the total tax owed for the two years. They should be about the same. Don't look at what is owed at tax time. He may have to adjust his witholding.