View Poll Results: How much of the $251,000 is subject to the rate of 39.6?

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  • The whole $251,000

    1 9.09%
  • Just $1000

    10 90.91%
  • I don't know

    0 0%
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Thread: A Tax Question

  1. #1
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    A Tax Question

    The Bush tax cuts are scheduled to expire Dec 31, 2012 at midnight. President Obama has said he wants the top rate for wages to be 39.6% for everything starting at $250,000.


    Lets say you have Taxable Income of $251,000 every year, so here's the question:


    How much of the $251,000 is subject to the rate of 39.6?



    • The whole $251,000
    • Just $1000
    • I don't know


  2. #2
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    Re: A Tax Question

    Quote Originally Posted by pbrauer View Post
    The Bush tax cuts are scheduled to expire Dec 31, 2012 at midnight. President Obama has said he wants the top rate for wages to be 39.6% for everything starting at $250,000.


    Lets say you have Taxable Income of $251,000 every year, so here's the question:


    How much of the $251,000 is subject to the rate of 39.6?



    • The whole $251,000
    • Just $1000
    • I don't know
    If that's the tax rate starting at $250,000, then that $1,000 would be taxed at 39.6%.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: A Tax Question

    $1000 would be subject to the 39.6% rate but what's your point?

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    Re: A Tax Question

    Am I Mitt Romney or somebody else? Little details matter......

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    Re: A Tax Question

    A valid question. However, the starting point is at closer to $350K, not $250K assuming the Bush Tax Giveaway expires as is. The $250K level is a PROPOSAL by Obama, but is not actually the law.

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    Re: A Tax Question

    Yup, as mentioned, you will pay that rate on 1K.

    Same with any bracket jump.

  7. #7
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    Re: A Tax Question

    Quote Originally Posted by Lutherf View Post
    $1000 would be subject to the 39.6% rate but what's your point?
    The point of my question was that not everybody understands what calculation is, follow this link:


    Quote Originally Posted by pbrauer View Post
    Um, we have a marginal tax rate system. That means only the amount exceeding $250,000 will be taxed with the new rate. A person having a taxable income of $250,000 would not pay anything extra.


  8. #8
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    Re: A Tax Question

    Just 1000$ of it mainly because it's fair to those people who make just over the tax bracket.

  9. #9
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    Re: A Tax Question

    Quote Originally Posted by pbrauer View Post
    The Bush tax cuts are scheduled to expire Dec 31, 2012 at midnight. President Obama has said he wants the top rate for wages to be 39.6% for everything starting at $250,000.


    Lets say you have Taxable Income of $251,000 every year, so here's the question:


    How much of the $251,000 is subject to the rate of 39.6?



    • The whole $251,000
    • Just $1000
    • I don't know
    Does it matter? The last $1,000 represents the same amount of business as the first $1,000.

    Also, Obama is proposing that we bring it down from around 330k to 250k at the same time as raising the actual rate. So someone making 300k might very well see an additional $30k tax increase.

    Besides, all of these tax questions are really just a dodge from the main issue, SPENDING. Further more... spending on social programs which has no increase in productivity, does not improve our industries, and does not create jobs. If we were spending like China on infrastructure and industry, I'd understand, but we are literally just sending people checks with absolutely no concern for real economic development, which would actually benefit those same people that much more in the long run.
    Last edited by ReformCollege; 12-14-12 at 11:11 PM.

  10. #10
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    Re: A Tax Question

    Quote Originally Posted by ReformCollege View Post
    Does it matter? The last $1,000 represents the same amount of business as the first $1,000.

    Also, Obama is proposing that we bring it down from around 330k to 250k at the same time as raising the actual rate. So someone making 300k might very well see an additional $30k tax increase.

    Besides, all of these tax questions are really just a dodge from the main issue, SPENDING. Further more... spending on social programs which has no increase in productivity, does not improve our industries, and does not create jobs. If we were spending like China on infrastructure and industry, I'd understand, but we are literally just sending people checks with absolutely no concern for real economic development, which would actually benefit those same people that much more in the long run.
    That's absolutely right. In fact, when the top rate was 39.6% that rate didn't kick in until something over $300k which is the current equivalent of nearly $500k. This "fair" tax increase will actually be as oppressive as 70% rate was in 1981 adn if you can remember how our economy was back then....

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