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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Summary from Forbes:

Now, let’s get to the good stuff. As you may remember, 2013 was a pivotal year in tax policy. Beginning on January 1st, a series of tax increases proposed and signed into law by President Obama came into effect, including:

A new maximum rate on ordinary income of 39.6%. The rate applies only to taxable income in excess of $450,000 (if married filing jointly, $400,000 if single).
A new maximum rate on qualified dividends and long-term capital gains of 20%, but once again, only if the taxpayer’s taxable income exceeds $450,000/$400,000.
A resuscitated limitation on itemized deductions; taxpayers with adjusted gross income in excess of $300,000 (if married filing jointly, $250,000 if single) lose 3% of most itemized deductions (maxing out at 80% of itemized deductions) for each dollar adjusted gross income exceeds the threshold.
A taxpayer’s personal exemptions are phased out once adjusted gross income exceeds the $300,000/$250,000 thresholds. Mechanically, once a married taxpayer has adjusted gross income in excess of $400,000, the exemptions are gone.
A new payroll tax was born. Starting in 2013, taxpayers with earned income from wages or self-employment income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 0.9% Medicare tax on the excess earnings.
Lastly, and perhaps most famously, taxpayers with adjusted gross income in excess of $250,000 (if married filing jointly, $200,000 if single), will pay an extra 3.8% surtax on “net investment income,” which includes items such as interest, dividends, capital gains, rents, and royalties.[/quote]

Holy s. I think we ticked each of these boxes this year.[/quote]

Lucky you!  You are incredibly wealthy.[/quote]

No, they/we are not incredibly wealthy.  Democrats make sure of that.  totally disincentivised to work hard and get a raise and bonus.  [/quote]

What planet do you live on that an HHI of more than $450k is not wealthy because it's certainly not planet Earth.  It sickens me that you are unable to recognize your privilege and instead think it's a political issue.[/quote]

I agree.  This is not a political issue - it is a discrimination issue.  We are taking a small minority of people and deciding that they 'have what they need' and that their rights, needs and concerns are secondary to the rest of the population because somebody drew a line on a chart and called them 'rich' without context to cost of living or whether they actually take financial risk that creates opportunities for others.

On what planet is it fair for the top 1% to make 19% of the money, but pay 38% of the taxes, or for 50% of the economy to pay no taxes?  on What planet is it fair that we attack successful people as greedy rather than aspiring to that level of success.

If somebody had a HHI of $50K, currently they have no tax liability, or a very minimal one.  What if they were at the 39.6% bracket?  A tax bill of $20K.  Would that get them a little wound up?  The math is exactly the same for the person at $600K who pays 40% on every dollar he makes over $450K.  Exactly the same.

[/quote]

Exactly the same except for that little part about how much money they make.  Tax laws are not neutral, they encourage and discourage certain behaviors and they also serve as a social safety net

I make a fine living, not as much as you but I certainly do not feel badly that families with a $50k HHI do not pay taxes.  I am th ankful that is not me and that I am in a position to take care of my children.[/quote]

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