Happy Tax day: $100K-Plus Earners Pay 72% of Federal Income Taxes

[jephrius]

Brutal thinking a 100k is a lot of money in 2014 (unless living in Anus, Idaho). Epic not realizing that plumbers and electricians earn that. Mega thinking that you're going to turn up at Goldman Sachs with your 4-6k a month take-home salary and think you're going to get face time with a 'wealth manager'.  

This thread is based on 100k, if you'll recall. Most people in The United States earn in the neighborhood of 40k. Personally speaking, I easily exceeded 100k by the end of First Quarter. So tell me how it all works, big shot...

[James28]

This thread is based on 100k, if you'll recall. Most people in The United States earn in the neighborhood of 40k. Personally speaking, I easily exceeded 100k by the end of First Quarter. So tell me how it all works, big shot...

You thought I was going to come out bitching? No I'm not.

If you're pulling in 100k a quarter, I'm truly pleased for you. Do you know which people are pleased for others? People that are happy in their own lives.

[jephrius]

You thought I was going to come out bitching? No I'm not.

If you're pulling in 100k a quarter, I'm truly pleased for you. Do you know which people are pleased for others? People that are happy in their own lives.

Oh that's good to know, because for a moment there I had you confused with a jackoff.

[James28]

Oh that's good to know, because for a moment there I had you confused with a jackoff.

That's accurate at least half the day 

100k the first quarter. Inspiring bro. What do you do?

[Rosicrucian]

That's accurate at least half the day 

100k the first quarter. Inspiring bro. What do you do?

Taking big risks chief!!! 

That's what I've gone and done. And now got the interview 

It's for a divisional manager reporting directly to the MD. The only people I've ever 'managed' were sending the trainees to fetch my coffee. I've always been working directly with the clients on site or as part or with the developers.

Any of you ever done it? Took a stab at something and it came off?

[ProudVirgin69]

What's the point of this thread?  Should those earning less than $100k be paying 72% of federal income taxes? 

[SF1900]

You can live on 100K a year. Its ridiculous to think you cant. You may not be taking lavish vacations and driving around in lavish cars, but you can live on 100K. Obviously this all depends on if youre married with kids or not.

[ESFitness]

That's accurate at least half the day 

100k the first quarter. Inspiring bro. What do you do?

apparently keeps an Excel spreadsheet with a list of his bogus emails and passwords complete to flood getbig.com with dummy accounts (or gimmick accounts. whatever you call them).

don't be fooled.

100k first quarter
5k second quarter
0k third quarter
-90k fourth quarter.

--- Canadian 'dollars' btw.

[ESFitness]

You can live on 100K a year. Its ridiculous to think you cant. You may not be taking lavish vacations and driving around in lavish cars, but you can live on 100K. Obviously this all depends on if youre married with kids or not.

mortgage/insurange/upkeep - $2500
car payments - $800
car insurance - $200
food - $300
eating out - $400
gas - $500
hair/nails/tooth stuff/soap/ect - $100
...
i'm sure i'm missing stuff.. phones, tv/net, ect.. figure another $500

that's $5300/month... just over $60k/year, fairly easy between two people, even if one works only part-time.

[no one]

My friend, I hear you so loud and clear it's scary. It's as if you're sitting next to me.

There's a big argument going on in the 'James' household about the price of engagement rings. All the friends are rocking 20 grand rings (at hefty interest rates) She's not happy with anything less. I'm thinking 2k max (I'm thinking $100 max), she's countering with 15k. Neither of us willing to move on price. So there might not be a wedding any time soon to argue over.


I may try and make light of this but she's pulling out the 'I'll wear it for the rest of my life' and 'don't you want me to have the ring I really desire?' or 'We're only doing this once' arguments.

if shes that stubborn abt the ring chances are she cares more about the ring and the special day than spending the rest of her life with you.

buyer beware. see you in divorce court.

[The Abdominal Snoman]

TOP FEDERAL TAX BRACKET IN AMERICA 39.6%...And for anyone to have to pay this they must make over $400,000. a year...If you make $400,000 a year and your wife don't work, have her take a part time job and file jointly...Because your rate will drop to 35% up to $450,000 a year...If you're a single filer and make $100,000 to $180,000 a year, you're paying somewhere in the 28% range...



http://www.bankrate.com/finance/taxes/tax-brackets.aspx

[el numero uno]

Why I have the feeling that some guys in this thread are full of $hit about their income?

[The Abdominal Snoman]

Only on Getbig can a household bring in over 200 grand a year and basically live paycheck to paycheck...

[cephissus]

Why I have the feeling that some guys in this thread are full of $hit about their income?

haha no kidding,

most believable thread in a while

[James28]

Haha  

Why don't you guys read the link I posted. The average shit kicker here earns 70k+ basic and both myself and the girlfriend are degree educated professionals. 200k NEW ZEALAND DOLLARS (not USD!) a stretch? Haha, oh brother.

Edit.

I could only find 2012 figures but shop ASSISTANTS where pulling in 50k a year here (though I imagine that include a fair bit of OT). 2 years ago.

[syntaxmachine]

Acquiring bitcoin anonymously via cash deposit to sellers on localbitcoins.com, sending the bitcoins to a mixer service, and storing multiple addresses' private keys either in encrypted volumes or safety deposit boxes tax-free of peace and victory.

[ESFitness]

Acquiring bitcoin anonymously via cash deposit to sellers on localbitcoins.com, sending the bitcoins to a mixer service, and storing multiple addresses' private keys either in encrypted volumes or safety deposit boxes tax-free of peace and victory.

i'll just receive cash via western union, and keep cash in safe deposit boxes. the bitcoin stuff seems risky as hell to me.

stockpiling 9mm and 7.62 ammo in storage units seems safer. lol

[anabolichalo]

but according to you, you need to be a 'millionaire' (do you even know what a 'millionaire' is? lol) to drive an S-Class Mercedes.

lol

you can have a garage with an 09 S63, a 997 C4S, a 360 Modena, for just over $150k the first two less than 45k miles and the Ferrari less than 25k.

that's only $30k out of pocket if you , only put down 20%.

maybe if you quit spending your sons money on your black crack hookers you too, could drive an S550.

uhm yes....


people driving the car i posted are billionaires you fucking moron

of course there are always people like you, buying cars they cant afford, paying monthly etc ahahaha

[anabolichalo]

mortgage/insurange/upkeep - $2500
car payments - $800
car insurance - $200
food - $300
eating out - $400
gas - $500
hair/nails/tooth stuff/soap/ect - $100
...
i'm sure i'm missing stuff.. phones, tv/net, ect.. figure another $500

that's $5300/month... just over $60k/year, fairly easy between two people, even if one works only part-time.

lmao no wonder you will be broke at retirement age

i dont even have television/internet/fixed phone bills (use someone elses internet)

i drive a cheap car thats on someone elses name who deducts the expenses from his taxes and i give a compensation for this thats much less than having it on my own name own insurance etc


i dont have to pay child support as long as kid is hospitalized on my insurance

i didnt loan much money for my apartment, i paid 50% cash

 

[Simple Simon]

if shes that stubborn abt the ring chances are she cares more about the ring and the special day than spending the rest of her life with you.

buyer beware. see you in divorce court.

This.
I would drop her now James, shallow and superficial, I bet shes out of your league though and you are clinging onto her as we speak.

[syntaxmachine]

i'll just receive cash via western union, and keep cash in safe deposit boxes. the bitcoin stuff seems risky as hell to me.

stockpiling 9mm and 7.62 ammo in storage units seems safer. lol

Yeah, dat dere cryptocurrency is seemingly an all-or-nothing investment. But if you consider some of your proceeds as risk capital, btc might be worth a try. Two benefits are:

i) you are accumulating property (that's what the IRS deemed btc recently) that might be hugely valuable in 5-10 years

ii) You can hold it in the digital world at no cost for as long as desired, then 'legitimize' it by transferring it to a btc exchange and selling it, thereby incurring capital gains tax -- no smurfs or otherwise overly complicated schemes needed. With the use of mixer services and having acquired the btc anonymously in the first place, there's no plausible recourse for the IRS to challenge your claim that you were an early adopter only now cashing in (and they're getting dat tax dollar, so are less liable to try).

[Simple Simon]

i dont have to pay child support as long as kid is hospitalized on my insurance

That explains why hes in there.

By the way, you shouldnt "have" to pay child support, you should "want " to.

[anabolichalo]

That explains why hes in there.

By the way, you shouldnt "have" to pay child support, you should "want " to.

that's not true

it will be decided in a court of law how much you HAVE to pay, it is based on your income so it's gonna be "not much"



sometimes i give her some cash, i gave her 50€ the other day, instantly i regretted so much and wonder why i did that

she fucking other dudes probably at this point

and i could have used that money for a fine hooker


i went home all sad about it

[Simple Simon]

that's not true

it will be decided in a court of law how much you HAVE to pay, it is based on your income so it's gonna be "not much"



sometimes i give her some cash, i gave her 50€ the other day, instantly i regretted so much and wonder why i did that

she fucking other dudes probably at this point

and i could have used that money for a fine hooker


i went home all sad about it

Perfect , I couldnt have written a better rebuttal myself, total self ownage.

[anabolichalo]

Perfect , I couldnt have written a better rebuttal myself, total self ownage.

what are you talking about jeff