Reply to 2013 Itemized deductions and HHI, why is my effective so high, what are we doing wrong?

Forum Index » Money and Finances

Reply to "2013 Itemized deductions and HHI, why is my effective so high, what are we doing wrong?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]^^^That's the marginal tax rate, not the effective tax rate.  It makes a difference, as this entire thread shows. [/quote]

Tax owed at 200K income is 43K, or 22%, tax owed at 400K is 108K, or 27%.  Difference of 5% in effective tax rate.[/quote]

But still you'd rather be making 400k yes?[/quote]

Do you assume that it takes the same amount of time, intelligence and effort to make $400K as it does to make $100K?[/quote]

Call it intelligence, time, effort, luck, connections, entitlement, divine intervention, eminent domain, whatever you want. It won't make people feel sorry that you have to pay a slightly higher income tax rate (which, coincidentally is partially mitigated by not having to pay Social security on most of your income, which the 100k person has to pay on all of their income). Not understanding the difference between marginal and effective rate and exaggerating your numbers to the point they defy logic for effect does not advance your argument of being so much more intelligent, btw.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics