2010 Federal Income Tax Brackets (IRS Tax Rates)
Death and taxes. You can try to fight them both tooth and nail, but at the end of it all, it’s a losing proposition. Especially when it comes to taxes, the government is going to want its fair share cut of your salary and business profits one way or another, whether you like it or not. Rather than engage in tax evasion and possibly live the remaining years of your life on the run as a tax fugitive from the long arm of the Internal Revenue Service (IRS), you might as well confront the issue of taxes head on. All we can do is try our best to understand how income taxes work and take reasonable steps to minimize their effects on our financial lives as much as possible.
One of the most introductory ways to plan for the effects of income taxes is to recognize how the various marginal rates are applied to the corresponding tax brackets. Because the United States does not yet currently engage in a flat tax system, our taxable incomes are broken down into different taxation ranges with specific taxation percentages assessed depending on where they fall along the tax bracket spectrum. Although our 2010 tax returns won’t be filed until April 15, 2011, for planning purposes, it’s always good to find out the new changes to the tax code as early as possible. Let’s examine some of the upcoming tax rate changes that are being projected for 2010 and compare them to the previous year’s 2009 tax brackets.
Projections Of New IRS Tax Rates Have Historically Been Extremely Accurate
Year after year, even before the official IRS income tax brackets are released, a select number of tax experts have gotten together and crunched a determinative number of officially released statistics by governmental agencies – to project and extrapolate the upcoming year’s tax brackets. Year after year, the tax rate predictions released by these groups have yielded results in advance with near 100% accuracy. Such an income tax bracket projection ahead of time is possible because many of the major tax code numbers are pegged to officially released inflation statistics – including the standard deduction, the personal exemption, the actual income ranges of the tax brackets, and contributions limits for the investment retirement accounts (both the Traditional and Roth IRA account).
One of these tax prognosticating groups is the Tax Foundation, a Washington D.C. think tank which collects data and publishes research studies on federal and state tax policies. The other notable group operates under the auspices of the Wall Street Journal and is comprised of a merry band of private tax professionals and economists – namely William E. Massey, a senior tax analyst from the Tax and Accounting arm of Thomson Reuters; George Jones, a senior federal tax analyst from CCH; and James C. Young, an accounting professor from Northern Illinois University. For numerous years now, both the Tax Foundation and the Wall Street Journal group have consistently released to the public very accurate, albeit unofficial, early bird peaks at the following year’s projected income tax brackets based on available financial data – well in advance of the official IRS releases. If you’re eager to get a head start on tax year 2010, read on.
IRS Tax Rate Schedule Updates For Tax Year 2010
This year, citing a very sluggish economy and extraordinarily low inflation rates for 2009 to which upcoming 2010 tax rates shall be pegged to, the Tax Foundation and associated experts are predicting very little year to year change for the 2010 federal tax brackets. If there’s anything good that came out of this global economic recession that has been plaguing us for the entirety of 2009 – it’s that the combination of low gas prices, depressed consumer spending, and high jobless numbers with so many people filing for unemployment – have enabled inflation rates to stay quite low during the span of 2009 – at a mere 0.19%. Just compare that to the incredibly high inflation rate of 4.26% during the previous year of 2008 when gas prices were skyrocketing, and it’s clear the recent sudden and precipitous drop in inflation has been extremely unprecedented.
As a result of low inflation, for the most part the 2010 tax bracket ranges will likely stay relatively unchanged. As noted by the tax pundits, for the very first time since the IRS started to index the official federal income tax rates to inflation during the mid 1980’s, taxpayers will get virtually no significant benefit from inflation in 2010. As such – year 2010 tax brackets, standard deductions, personal exemptions, and even retirement account contribution limits will see very little (if any) alterations from prior year numbers.
I will update the table below to reflect the official IRS tax rates for 2010 if decidedly different numbers are ultimately released by the IRS. However, with tax bracket projections by the experts having enjoyed a near perfect accuracy rate for quite a few years now, I don’t have any reason to doubt that the displayed figures below will ultimately wind up as official.
Federal Income Tax Brackets For 2010 – Based On Taxable Income Ranges
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Beyond some slight numerical shuffling of the taxable income ranges, there will not be too many significant tax changes from 2009 into 2010. Here is a breakdown of the projected changes (if any) for 2010 as they compare to the prior year:
- Personal Exemption: No change. For the very first time, the standard exemption for 2010 will not be going up and will stay unchanged at $3,650, the same as it was in 2009.
- Standard Deduction: No change, except for Head Of Household filers. The standard deduction for married couples filing jointly will remain unchanged at $11,400. For those filing as single, the standard deduction will remain at $5,700 as well. However, Head of Household filers will see a slight increase by $50 – from $8,350 (year 2009) to $8,400 (year 2010).
- Overall Tax Bracket Thresholds: Will increase across the board for all tax filing statuses, albeit at a significantly lower amount compared to past tax year increases.
- Annual Gift Tax Exclusion Amount: No change. For tax year 2010, the current gift tax exclusion limit of $13,000 will stay the same. Often overlooked by most taxpayers, the gift tax stipulates that gift givers must pay a special tax on gift amounts that exceed a certain amount per year.
- Traditional and Roth IRA Contribution Limits: No change. Despite the fact that IRA and Roth IRA contribution limits did not rise in 2009 in response to strong inflationary pressures in 2009, there will still be no corresponding change in the maximum contribution limits to individual retirement accounts for 2010. The standard IRA contribution limit for 2010 will remain unchanged at $5,000. The catch up contribution limit for those 50 or older will remain at $6,000 as well.
October 7th, 2009 at 12:03 pm
Where’s the reward for being successful? Being solidly in the 25% bracket, we pay our fair share as productive citizens. Last year’s filings were quite an eye opener from previous ones (and we know the reasons why). We live a moderately frugal life, and will definitely get more aggressive in maximizing what advantages still remain for small business owners.
October 7th, 2009 at 7:53 pm
It is disappointing to have to pay 35% of income to the gov’t. This is why the mortgage interest deduction is so much more powerful for a high income earner than a lower one.
October 7th, 2009 at 8:12 pm
Why can’t this federal government and the President Barack Obama administration get together and come up with a fairer tax system? Why are they fussing around with health care when taxes have a greater universal impact on our lives?
It’s time we abolish the existing marginal tax rates and throw out the existing and cumbersome tax codes…and replace them with a flat tax of say 5 to 10% and then impose a stiffer sales tax on products and services based on consumption instead. I’m sick of paying out so much money in the form of taxes when I don’t even consume all that much resources in this economy. I’ve been trying to save for an emergency fund but it’s nearly impossible with all of the hefty income taxes (both state and federal) that I have to keep shelling out.
Meanwhile, all of the rich tycoons and CEO’s are able to bypass the high tax brackets through tax shelters like the home mortgage deduction and buy all of the yachts and expensive indulgences they want. It’s not fair!
October 7th, 2009 at 9:30 pm
Those of you rich folks in the top 35% tax bracket need to stop whining. You don’t get to whine. I hope this administration taxes the beejesus out of you all…it’s time you paid your fair share and get with the program. It’s only fair the wealthy pay more out of their millions and billions of dollars to subsidize the rest of us who need it the most. We are struggling in this recession and it’s time to fix the problem – by taxing the rich!
October 8th, 2009 at 3:04 pm
Gwen – Socialists unite!
October 11th, 2009 at 9:49 pm
Nice info that helps us plan for 09 tax filing. Thanks.
October 14th, 2009 at 4:57 pm
umm…by wealthy you mean all those doctors, lawyers, businessmen and double-earner families of mid-level exec + nurse or some such combination, right? I mean, those in the 28% and up categories are not all filthy-rich idle millionaires.
I get tired of people telling me that after my husband completes his seemingly endless education & training in medicine (right now he’s making less than most first-year teachers) he deserves to pay out 28% of his income in taxes (or even better, that he should pay more!) while at the same time not being able to claim any deductions for his college & medical school loans (which are comparable to a good-size mortgage for many). We’ll be paying those off for decades–but since we’re so “rich” we should be taxed out the behind. Right. So that’s the reward for people who scrimp, save, borrow, and work hard to better themselves.
October 15th, 2009 at 9:30 pm
Maybe if corporate tax rates were higher than individual tax rates, all the whinny “rich” boys & girls (who think they aren’t already rewarded by their buying power & status, considering $373K a year translates to roughly $1.02K per day before taxes which is what some of us “poorer” kids make per month) would be happier. Could someone explain the logic behind an $18m corporation paying the same tax rate as an individual earning $373K? If the government held corporations more accountable, the government wouldn’t be digging so deeply into the upper crust’s pockets…and so obviously pissing them off.
October 17th, 2009 at 3:19 pm
The gov’t needs to get out of our lives and stop giving those that would rather not work a free ride. Less GOV’T = less gov’t spending = less taxes needed. People need to be responsible for themselves. Most politicians could not run a business unless they had a open ended checkbook, for it is evedent they do not understand you cannot spend more than you have.
October 18th, 2009 at 6:48 am
Does anyone know if there any any tax implications if a non-resident alien spouse sends over $10,000 to his/her spouse in USA. Does the American spouse have to show this as income for tax purposes?
October 18th, 2009 at 8:21 pm
I am working a full-time and two part-time jobs. I am trying to save, pay off my student loans and then buy a house (and hopefully buy a newer car than the 1993 vehicle I drive right now). I am also planning on having kids in a couple of years (after I pay these things off). I am working day and night, Sunday through Friday. Why? So the more I make, the more I can give to the government. What is the point? I might use government services (like the road and later schools, etc), but if we had a flat percentage rate, I would still be paying more than someone working less, or getting paid less overall. Why would I get taxed a higher percentage? This makes no sense. I am not using governmental services more often. In the past, I have always been in the lower tax brackets and I had never looked to see how much more I would be taxed for making more money (until now, because I have three jobs).
October 20th, 2009 at 12:38 am
Hey lola-
Corporations are us. There isn’t some “magical” corporation out there. The owners of all those businesses you always hear about are your neighbors (who own their stock). And we’re sick of having to pay taxes twice on our earnings-once when our corporation earns it and once when we pay it to ourselves as dividends. There’s no magic pot of money out there to pay for government functions. It all comes from us.
Our tax system is progressive enough as it is. If you’re truly a $1000K/month earner, you don’t pay taxes, they pay you. In fact, over 40% of the households in this country don’t pay ANY federal income tax. How is that fair? You don’t drive on the roads? The soldiers and police don’t defend your home?
The “rich” are getting socked enough as it is. They pay more in health care insurance to cover those who don’t carry it because they “can’t afford it.” Then they pay more in taxes to cover those on disability, medicaid, WIC, HUD etc etc etc. You think everyone on disability can’t work? You think everyone on medicaid/disability spends the dollars responsibly and gets off as soon as they can? Welcome back from fantasy land. They can’t deduct student loan interest. They lose the earned income credit, the retirement savings credit, the exemptions on their kids, the ability to use a Roth IRA or deduct a traditional IRA etc etc etc.
I don’t mind a progressive tax system and paying a higher percentage of my income then those who make less, but everyone needs to pay something. For most middle class Americans federal income tax is INCOME TO THEM, not a payment they have to make. Meanwhile, they’re buying McMansions and running up their credit card bills and making those of us responsible enough to make the payments we’ve agreed to foot the bill and bail them out. This stupid $250 stimulus Obama is giving to seniors is another stupid handout. Social security is indexed to inflation. Guess what? We had negative inflation this year (deflation) so social security payments should go down? Who ever told you they were supposed to go up every year? The pussies in Congress are afraid to say no. They rather we go bankrupt. But when they decide bankrupt is a bad idea what do they do? Oh, the rich can pay. Send them the bill.
I’ve been poor, and I’ve been “rich.” I chose to eat beans and rice, go to school, work hard, and sacrifice. Don’t feel like you’re entitled to the wealth I’m creating by busting my ass. Go make your own.
October 20th, 2009 at 12:40 am
P.S. This “rich guy” is in the 25% bracket. But I hope to be in the 33% bracket soon. But hopefully because I’m making more money, and not because Congress decided to raise my taxes again.
October 24th, 2009 at 2:52 pm
That government that governs best governs least. Mr Obama, get your hands out of my wallet!
October 26th, 2009 at 6:11 am
If everybody would mind their own business they wouldn’t be griping so much. Money will come and go, some people were blessed with riches. Others were not. Alot of people inherited their riches and we are not allowed to be mad at them for what their family created for them. I am unfortunately unwealthy, but money can not buy happiness. I have a beautiful wife and kids, I am just fine. You cant go on living life stressing all the small things. You could be living on the streets or in a shelter somewhere, be fortunate that you are able to write these comments. God bless!
October 26th, 2009 at 1:31 pm
Anyone in the higher tax brackets SHOULD GET TO KEEP THEIR MONEY! Taxing the rich more sucks!! Oh and for the record, I have been in the 15% bracket most of my adult life, so I am not rich!!
Anybody that makes big dollars has obviously worked hard to get where they are, and they deserve every bit of money they make! And if someone has gotten rich by exploiting loop holes in the system, well they are smarter than you aren’t they?? Knowledge is power, so if someone knows a trick or two that allows them to keep their money, more power to them! Enough of our money goes out to crap that will never do us or our families any good, and that we would not necessarily want to give money to in the first place!
For anyone that is jealous of the people in the higher tax brackets, I say, go take advantage of some government money and go back to school and get your Master’s Degree or your Doctorate and work hard at it, don’t sit around and cry that the rich should be taxed more to support people that don’t want to go out and make something out of themselves. And, for the record, I don’t even have an associates degree, I’m just a die hard conservative who thinks that hard work should be rewarded, and laziness should be penalized. This stupid country has it completely backwards!!
I know there are plenty of people that are not lazy and who work hard, but there are also plenty of lazy people who think the rich, who have succeeded in their field, should support their lazy lifestyles, and that is just wrong!
October 26th, 2009 at 9:49 pm
Thank you so much, Jeff, for that breath of fresh air in such a stifling debate over something that is exactly what you say it is–worry over material possessions. I can see both sides of the argument, and really, I don’t think anyone is truly wrong here, but why worry so much over something as silly as money? Be happy with what you have and be thankful, above all else.
October 28th, 2009 at 5:33 pm
The responses of the people whining on here just shows general illiteracy in history and personal finance people are. Maybe it’s time to watch something else than a reality show and read something else than bible fiction?
November 2nd, 2009 at 4:44 pm
Thanks Jeff. I think you are absolutely right.
I am single and I am seeing that my federal tax bracket is much higher (>10%) than those of my married friends who have working wives.
People who earn should be allowed to keep their money instead of paying in terms of taxes for someone lazy and stupid enough to not get a job or those money hungry companies bailout who play foul on the wall street.
I am not saying don’t tax me. But please be within reason and make it flat for everyone.
November 2nd, 2009 at 10:59 pm
Enough bull about this whole taxing the rich complaints by the wealthy. If your income is above $100,000 a year, you are rich and can pay more in taxes. Enough said. There are people in this country that are struggling on a few dollars a day and you complain about paying a little bit more in federal taxes out of all that money you make? How dare you!
This tax system is broken and we need a fairer tax system. If socialism is the only way to make this country a better place for everyone, then yes, we want socialism. I want everyone to have a chance in this world and not just allow the super rich to continue running this country into the ground. Why was there even a stimulus check for the big banks and commission payments for the bank employees? Why are we the taxpayer bailing out the rich executives and CEO’s when we are suffering in this recession? We need to bail out the unemployed masses, not the government people in Washington D.C. and the financials in New York City.
This system we have right now only benefits the wealthy an is absolutely wrong! Fair tax is a must and a human right! I hope Obama and the Dems can get this thing done. We need universal health coverage for all citizens and residents, and we need tax brackets that will be fair to everyone.
November 3rd, 2009 at 3:48 am
I think our government should get back to following the constitution that is was founded on. Where in the constitution does it say that citizens should pay 45% of their income to the government?? Where in the constitution does it say that it’s the government’s responsibility to provide healthcare to it’s citizens?? It doesn’t!! It stinks that our government is bankrupting the entire country, and our children’s futures, and there are alot of people sitting around thinking it’s ok because they are down on their luck and wanting someone to bail them out.
November 3rd, 2009 at 11:33 am
Miss Swan:
People like you make me sad for my children. People like you are going to tear down this once great nation. People like you will make sure that my children’s America will be worse than the one I grew up in. And I’ve learned the hard way that people like you wil never change, no matter how much logic and facts are presented to you. But I keep trying…
Do you know the government collects almost $2,000,000,000,000 a year in taxes. Thats 2 Trillion if you were wondering. That’s a thousand Billion dollars. Thta’s not enough money to help the “truly needy”? The problem is not the rich, it is the millions of Americans (and illegal aliens) that made horrendous choices in their lives and now expect honest tax payers they have never met to pay for their mistakes. People who go our partying instead of studying in school. People who use drugs because its “cool”. People who have 4 kids from 4 different fathers because that makes them popular or loved. In general, lazy people who feel entitled and get hundreds of billions of dollars a year from responsible people because they are incredibly irresponsible.
With $2T we could quadruple the help to the truly needy and DESERVING just by cutting off the leaches. But youdont want to do that do you Miss Swan. You just want to punish the evil “rich” that go to work before their kids wake up and get home after they are in bed. Yeah, that sounds much more “fair”.
This country is doomed……
November 5th, 2009 at 11:44 am
I enjoy reading how Miss swan suggests that a fair tax is a human right… right along with a house, nice car, and everything else misinformed people believe should be a right… read the words, RIGHT to LIFE, LIBERTY, and the PURSUIT OF HAPPINESS– the pursuit..the oppotunity to gain happiness…NOT THE RIGHT for it to be handed to you! You must work for it…
And those who say well I pay 15% on 20k while the company that made 1,000,000 also pays that 15%— ok so for you its 3000 bucks and for them its 150,000…. sounds fair to me! (and I am in that lower portion that makes under 50k a year!)
November 5th, 2009 at 3:12 pm
So Maria…sure sounds like you’re in favor of a flat tax then. A flat tax sounds fair on paper…after all 20% against a low income person is the same as 20% on a richer, wealthier tycoon right? Each pays the same percentage of their net income in taxes right? Wrong! Flat taxes are inherently unfair. There is a certain basic income level that one needs to survive and taxing even low income wage earners at the same level as that applied to a wealthier individual is not resulting in the same standard of living.
Yes, we all have the right to the pursuit of happiness, but the government has the responsibility to ensure that the playing field is fair and level for all. This is not a free for all island where it’s everyone man for himself. The government must ensure that wealth is distributed fairly to those that really need it. Because we all start off at different income levels and wealth levels in life, the government needs to take it upon itself to do what’s right!
November 6th, 2009 at 1:25 pm
Wow. Just when you though Miss Swan couldn’t be topped when it comes to Socialist propogands, here comes Dan with “the government’s job is to redistribute wealth”.
I always found this a very insightful compare and contrast:
Liberals believe that Government exists to provide for the people
Conservatives believe that Government exists to remove barriers so that the people can provide for themselves.
So true.
November 6th, 2009 at 2:13 pm
Why does everyone want something for nothing?? If you want more money in your bank account go out get the degree you need to do so. Don’t EXPECT those of us who chose to go to school and further our education to do this. I chose not to live off welfare and foodstamps. I chose not to have other hard working people support me. I
November 6th, 2009 at 2:15 pm
I TAKE CARE OF ME!!! Some of you should try it. You are only what YOU make of yourself!!!!
November 7th, 2009 at 11:34 pm
Why do the rich always say that everyone should just lift themselves up. But what happens to the worker who has no choice in what a bank does, has the company he is working for get there credit denied? does that mean the worker should pay for the faults of the rich elite? And where else in the world can you make well over 375k a year and pay this low of a tax break and have a living standard like we do in the U.S.? I say the rich should pay a higher tax rate and if you cant make it on 250k a year… maybe you should look at how the poor are living and that does not mean the people who dont want to work…. I have worked 2 full time jobs at the same time and still could not make all ends meet, I have not had health care for 4 years. and i drive a car that should have been put in a junk yard 5 years ago…. But yet you complain about a high tax rate. Something you should realize is that not everyone has an equal opportunity to move up the social latter. So next time you feel that the poor and lower class worker are just lazy and should lift themselves up, think about yourself working 2 crappy jobs 40 hours a week trying to make it in society…. Some people do need a helping hand ( not a hand out). and the next time i hear about someones freedom being violated because of the tax rate I am going to scream. Your rights are not being taken away because you pay a higher tax rate, your freedoms are being taken away by all the government involvement in peoples personal choices….Abortion,Drugs,speech, Anything that does not effect people outside of the person making the choice should not be restricted from doing that action.
November 8th, 2009 at 5:04 pm
To Financial Samurai — if you are paying 35 percent of your income (earnings?) and by that you mean, taxes/income and not your marginal rate, then you must be doing quite well, are including both sides of the payroll tax and are living in a high tax state and city as in NYC. If so, then count how lucky you are and stop kvetching. Otherwise you sure are not a financial samurai and/or you can’t distinquish between an average and marginal rate, in which case you should either be more precise in what you mean or foreswear commenting about tax structure and policy.
November 9th, 2009 at 10:47 am
Socialist:
You are where you are because of the choices you made and the effort you gave (or didn’t) in your life. Please dont blame others for your situation. Everyone DOES have an equal OPPORTUNITY to move up the social “ladder”. That does not mean that everyone takes advatange of that opportunity. Millions of people decide to take the easy route and not make sacrifices and work hard so that they can make a better life for themselves and their children. Millions of people decide not to study hard in school. They decide to have kids at a young age out of wedlock. They decide to do drugs or commit crimes. Those people should not be on an equal rung of the social ladder as responsible people.
Did you stay in weekends studying in High School so you could get good grades and go to college? Or did you go out partying? Don’t tell me you couldn’t afford college. I dont want to hear it. Growing up in FL, every single State School offered me a free ride if I would stay in state to go to college. Just had to be in the Top 10% of my class. And I’m not even a minority! Most states are exactly the same way.
If you went to college, did you pick a real degree? Something difficult that would give you the skills to get a good job out of college? Enginnerring, Accounting, Finance? Or did you major in Literature or Sociology or Philosophy because it was easier and you didnt have to study? If you had made the right choices you wouldn’t have to work 2 crappy full time jobs for no money.
And I don’t want to hear “my mother was sick and I had to drop out of high school” to support my family. That is the response given by 99% of anonymous internet poster who dont want to admit that their situation in life is of their own doing. 1) There are a million social welfare programs that would have supported your family while you studied hard and went to college and 2) If you really are the one in a million where this case is true, then you should have received a lot more government aid then you did. But all of the other leaches on the system took the moeny away from the families that really deserved the help.
November 9th, 2009 at 2:42 pm
Margaret Thatcher said in 1976:
“Socialist governments traditionally do make a financial mess. They always run out of other people’s money. It’s quite a characteristic of them. They then start to nationalise everything, and people just do not like more and more nationalisation, and they’re now trying to control everything by other means. They’re progressively reducing the choice available to ordinary people.”
What will we do when all the rich are gone? Then who will provide jobs for the rest of us and who will pay the taxes?
Those that demand that the rich should pay more are thieves who legitimize their theft by having the government take from the haves and give to the have nots.
By the way, I am not rich but I do believe in our United States Constitution.
November 9th, 2009 at 2:54 pm
Dammit…forget about taxes and tax brackets. What about jobs? This country needs jobs!! People who are unemployed and living off of unemployment benefits are angry because the system has let them down. It’s about being dignified, being able to provide for your helpless family, and being provided for by the governmental system. When you’re laid off and the government does nothing to provide for every American citizen who wants a job, there’s something seriously wrong. Enough with this whole health care debate and talks of nationalized health insurance. Bottom line – the government needs to start subsidizing job creation big time. Stop giving our economic stimulus money away to the big name banks. Stop giving our economic stimulus money away to citizens in the form of one time pointless stimulus checks. It’s about jobs, jobs, jobs. Once jobs are up and everyone is fully employed, then let’s talk turkey.
November 10th, 2009 at 10:59 am
I’ve busted ass for four years in college financing it myself and just got my first job (after busting ass to find that too). I started calculating how fast I can pay off my 120k student loan making 50k a year and I figured for years while in college that it would only take a few. WRONG, 38% of my paycheck is now going to taxes.
…time to get married I guess and play the system since the government is so damn involved in every facet of my life. Look in someone elses pockets Mr Obama! (try the 40% of Americans who pay squat in income tax!)
November 13th, 2009 at 10:08 am
Life isnt fair, the people making less think that someone making more is stealing from them, and the “rich” have some how unjustly by being successful should pay, often bad decisions make people less weathy, life is about building, it was said once the way to getting rich is slowly, my wife and I both have always worked, and finally after 30 years, make 150,000 a year, we live in a modest ranch style house, (15 year morgage paid for in 8 years) have paid for our educations in cash, helped with our sons education in cash, maxed out our K-plans, watch our pensions stolen or standing by to be stolen, we raise a garden, drive our cars untill the wheels fall off, we live by the rule of very little or no debt, we dont own toys and read allot, no big screen tvs here, dont even have a dish washer. Dont smoke, dont drink, Look back on your life and ask, did I do all I could by myself to get my standard of life, could I have made better descisions, could I have moved, gone to school, stayed married, having your yearly social security statments will help, yes life isnt fair you will always have people who have enough and want more and expect others to pay, job creation have left the states because of you letting them, letting your vote mean nothing, keep begging for more handouts and you will be poorer, sorry your life sucks, but buck up and get off your ass and go work for it where every you can find it, and just maybe you might appreicate what you have and earn more, and just in case you missed something, my wife and I have lost five jobs in the last 30 years. And as for the market crash, we beat that one by a year by getting out, we knew there was a train wreak coming and we did just fine, you have to pay attention to everything in life and if you cant why should others compound your problems by giving you more of our money.
November 13th, 2009 at 10:31 am
Well said Josh, I should have read your statements, before writting mine, you are right on target, John Wayne said it once, “life is tough, and it is tougher if you are stupid” what people are going through needs to be looked at as temporary, work harder, take your licks, and figure out how you are going to move onto the next phase of your life, beating your present condition, others have and so will you, your going to learn what your momm’s didnt teach you, life is tough, but giving more of mine isnt going to make you tougher, it will make make it worse for you the next time, by the way the super mega rich they are going to tax, is in the 150,000 dollar range, thats me, there isnt enough super mega rich around to make a differance, and if you had not borrowed all of that money and paid that interst to the super banks, then they would not be the super banks. congrads, you helped make the problem by giving them your money, now you complain, figure out how much of your income over the course of your working life went to interest at a bank.
November 13th, 2009 at 10:36 am
ANGRY SAYS – you are right, the eco-movement have forced good jobs out and are doing there best to get the rest, feel for you, america used to make everything we used, and that was in my lifetime, buy american, but then the unions forced there elite needs on everyone else and took more then they deserved. Governement has taken over for the unions and become the taker….it is a mess….keep up hope some how, wish you luck
November 13th, 2009 at 10:41 am
JD and others, read allot of true comments today, glad Im not alone, we are the unheard majority, tax us 12,000 dollars less a year and see what kind of stimulas we have.
November 13th, 2009 at 10:54 am
To Dan C. – Read your consitution, the government does not have the “responsablity” to make the playing field level, we as citizens have the resposnablity to make the playing field level. Your off base here buddy, sorry but all of our efforts are not the same, so why take from someone who has the stress and the hard work to “level the playing field” for those that dont, I know people are working 2-3 jobs to make it, and I feel for them, I have been there, longer then I wanted, but I didnt take a handout by having the playing field leveled, that is socialism.
November 13th, 2009 at 11:02 am
Maybe this country needs a good war on its soil, destroying our land and property to see what we really have, that would wake everyone up, that would make everyone equal, we dont deserve more the our god given rights, and I did say GOD given rights, everything else is gravy and food on the table. Thanks for your comments, I just got on this page to see the tax tables for next year so that I can plan my life and how much I will have left, before I pay, I wish all you guys luck next year and a better life.
November 17th, 2009 at 1:23 am
Wow…what a horrible world we live in. I can’t believe people actually think this way. How awful and sad. The world is not so black and white. Not everyone that is struggling financially is lazy or hasn’t tried hard enough. There will always be people that take advantage of the system but not everyone is that way. It is arrogant to assume that you have all the answers and that you can just judge someone based on how much money they have. Unfortunately not all hardworking people get ahead in life. There are plenty of hard working people that are struggling. There are also plenty of lazy people that are wealthy and never had to work hard for what they have. Life just isn’t fair and is certainly not cut and dry.
Oh and by the way…there are plenty of people that went to college that are struggling financially and there are plenty of people that never went to college that are wealthy. So whether someone went to college or not does not determine how their life will turn out.
Yes, I did go to college.
Somehow this discussion took a bad turn and became more about what you think of poor people rather than what you think of taxes.
November 17th, 2009 at 11:37 am
Someone:
It is exactly your mentality that will keep “the poor” living in poverty and dependent on the government not for years, but for generations. If you look back at the dialogue on this blog, it is pretty consistent that truly needy and deserving people should get the temporary help they need when they find themselves on hard times. Unfortunately, hundreds of billions of dollars are being stolen from these people by the lazy, undeserving individuals that have decided to game the system. So much more could be done to help the poor rise out of poverty if we werent wasting this massive sum of money every year.
But your way of thinking is shared by tens of millions in this country. We cant cut back on one single social welfare program. We can’t apply any real standards of how and to whom this money is given out. Give the money to everyone, and you are bound to give it to at least a few truly needy and deserving people. The massive fraud and abuse? Thats just a price we pay for “doing the right thing”.
Please think about this for a few minutes. The Wall Street Journal did a study a few years back where they looked at thousands of recipients of government social programs. Welfare, foodstamps, public housing, MediCaid, etc. They found that over 70% had one or more of three characteristics in common. 1) Had at least one child out of wedlock 2) Dropped out of High School and 3) Convicted of a crime. I was shocked, but not surpriswd when I read this.
Please tell me how more money solves these problems? I would much rater stop rewarding these individuals for bad behavior and decision making and triple the benefits that the other 30% receive.
November 17th, 2009 at 8:41 pm
Your tax dollars go to ridiculous world policing and unneccessary wars created and prolonged by inept leaders and fear mongers who make a profit from the business of war and oil and are so stupid they couldn’t even book a tupperware party.
War and corporate welfare is what you should be angry about. Welfare for rich people is what should be pissing you off about the US. By definition, it’s quite impossible for poor people to have all of your money, isn’t it? Your taxes go to the lazy rich, not the lazy poor. Wake up, America.
November 17th, 2009 at 8:45 pm
$932,891,425,796 and running for your stupid war in Iraq and Afghanistan. Get a grip and grow up.
November 17th, 2009 at 9:32 pm
Josh. Riddle us this, O great hardworking honest American: how long has it taken America to ever spend $932,891,425,796 on welfare programs as opposed to wars and what kind of genius plan is that? The dollars for war versus dollars for poverty isn’t even close. I have a hard time endorsing the use of tax dollars for destroying other people on the planet rather than for taking care of our own, but, I have a feeling that you’ll try to make a case for that. Try doing it without using the words “terrorists”, “socialism” or “pride”. Please.
November 17th, 2009 at 10:40 pm
ANARCHY!!!
Haha…
It’s the government.
Do you really think they are trying to do what’s best for us?
November 18th, 2009 at 12:57 pm
Bottom Line we need a tax overhaul, after 29 years in the work force I’m going from the 15% bracket to the 28% bracket. The only draw back is the tax increase that I will have to pay. One fundamental foundations of this country was to build on prosperity. Our country THE Administrations’ of the past and the present has destroyed the tax system. Now more then ever now being in the economic down turn the tax system needs to be streamed line. You have to strive to be in the next highest tax bracket to live as you done in years past. The Gov’t and it’s unconscious decisions in passing bills with hidden agendas lead back to increased taxes to us and in turn we have to make more $ for WHAT TAXES. Go offshore
November 18th, 2009 at 1:18 pm
I am for doing good to the poor, but…I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed…that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer.
~Benjamin Franklin
November 19th, 2009 at 10:55 am
Well “fierce” lime…According to the most recent breakdown of 2007 Federal Spending, we spent 980B on Social Security and Medicare. And we spent an additional 570B on Social Welfare Programs like Medicaid, Welfare, Unemployment, Food Stamps, government housing, EITC, etc. So to answer your questions, it takes us about 8 months of spening for government social programs to equal the cost of ~8 years of Iran and Afghanistan war spending (thats if your numbers are true. I didnt research it but just gave you that one). Even f you wantto back out SSI and Medicare, it takes less than 2 years of other welfare programs to equal almost a decade of wars in Afghanistan and Iraq. Sorry to let facts get in you way.
Also, I just want to say this its obvious by your writing that you are synmpathetic to the “terrorists”and beleive that America is a greater threat to the world than Islamic Jihadism. You most certainly desire a “Socialist” system in America and around the world. And you obviously have little to no “pride” for this great country. Did I fit them all in?
November 19th, 2009 at 3:04 pm
I’m in the 15% and I’m going to say that Gwen has stated the most absurd thing I’ve heard in awhile…I don’t make a lot of money (obviously) but I’m not asking for hand outs from more successful people than myself. Generally speaking, they worked hard for what they have and if you had the income you wouldn’t want to give it away either. It’s not their job to support you because your life has failed, miserably or because you lack the motivation to improve your situation. Nothing annoys me more than people who blame more successful people for their crappy life. Start making $350k a year and then tell me you want to pay taxes because other people can’t get their shit together.
November 19th, 2009 at 3:16 pm
Josh:
u sure do spend alot of time on the internet….?
November 20th, 2009 at 12:22 pm
S:
Touche! “u” certainly have got me there. Please disregard my previous posts as the ramblings of an internet addict.