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Post by ♥ COVID-19♥ on Apr 15, 2011 8:53:52 GMT -6
TAX THE RICH!: Or why America’s 30-year experiment with trickle-down economics has failed ht.ly/4zxkY
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Post by Ardbeg... innit on Apr 15, 2011 9:06:25 GMT -6
Not to mention the fact that the top one percent earns about 43% of the income in any year.
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Post by Chicago Jake on Apr 15, 2011 9:08:01 GMT -6
Actually, Income Tax day is Monday.
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Post by Ardbeg... innit on Apr 15, 2011 9:10:48 GMT -6
Actually, Income Tax day is Monday.
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Post by ♥ COVID-19♥ on Apr 15, 2011 9:16:56 GMT -6
Actually, Income Tax day is Monday. Hey, I'm an old-school traditionalist.
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Post by Tex on Apr 15, 2011 11:49:07 GMT -6
Not to mention the fact that the top one percent earns about 43% of the income in any year. According to the IRS, the top 1% earned about 20% of adjusted gross income and paid about 38% of federal income taxes (2008 returns). The Wall Street Journal, with newer numbers, says that the share paid by the top 1% is up and is the highest since 1940. Just curious where your numbers are from since they show such a disparity.
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Post by Chicago Jake on Apr 15, 2011 11:51:33 GMT -6
Apropos of nothing, I just dropped my Estimated Tax payments in the mail. As much as I dislike paying taxes, I especially dislike paying taxes on money I haven't even earned yet!
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Post by ♥ COVID-19♥ on Apr 15, 2011 12:30:02 GMT -6
Be positive! You'll probably earn so much more this year that you've likely already underestimated your payment for this quarter!
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Post by Ardbeg... innit on Apr 16, 2011 7:57:47 GMT -6
Not to mention the fact that the top one percent earns about 43% of the income in any year. According to the IRS, the top 1% earned about 20% of adjusted gross income and paid about 38% of federal income taxes (2008 returns). The Wall Street Journal, with newer numbers, says that the share paid by the top 1% is up and is the highest since 1940. Just curious where your numbers are from since they show such a disparity. I checked my source, and it was using unadjusted gross, its link to its source matches yours, so really, both numbers are correct. Here is an interesting question to which I have the answer in hand. For the top 1% (which is approximately $500K adjusted gross per year), what do you think is the actual average tax paid by that income group, and what do you think would be appropriate? (The numbers I have are for 2007, published December 2010)
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Post by Tex on Apr 16, 2011 8:22:03 GMT -6
Do you have a link for the 43% number?
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Post by Exildo Wonsetler Briggs III on Apr 16, 2011 22:29:36 GMT -6
This shit just chaps my ass!! We already HAVE a progressive tax schedule!! The MORE MONEY YOU MAKE, THE MORE FUCKING TAXES YOU PAY!!
WHY is this so fucking hard to understand??
"TAX BREAKS FOR THE RICH!!"
WELL FUCKING DUH!! It might come as a big fucking SHOCK to poor folks, but you actually have to PAY TAXES TO GET A TAX BREAK!!
Go't DAMMIT someone just RIP my DICK OFF, will 'ya??
How much of this BULLSHIT do we have to put up with??
Let me tell you one more time. Listen up, DUMBASSES!!
"YOU CAN'T GET A FUCKING TAX BREAK UNLESS YOU PAY FUCKING TAXES!!!"
I'm beside myself over this shit!! I mean, what the FUCK do you have to do to make folks understand you DON'T GET A FUCKING TAX BREAK UNLESS YOU PAY TAXES!! - AND WHAT FUCKING PART OF THAT DON'T YOU UNDERSTAND???
DOUBLE BESIDE MYSELF!!
This crap has got to stop. Shit is getting under my fingernails.
Bummer.
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Post by Tex on Apr 18, 2011 18:49:10 GMT -6
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Post by Chicago Jake on Apr 18, 2011 23:23:59 GMT -6
Tex, you're a CPA type dude, right? Can you answer a simple question?
Suppose I have 1099 income, but it is not evenly spread all year, and is not even predictable as of April 15. Is there a way I can make Estimated Payments based on how much I made each quarter, rather than making a wild-ass guess at the beginning of the year and paying four equal payments that may or may not reflect reality? That would sure help me out! Thanks........Jake
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Post by ♥ COVID-19♥ on Apr 22, 2011 13:05:19 GMT -6
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Post by innit Geezer on Apr 22, 2011 13:13:29 GMT -6
Could you imagine the size of .... oh forget it.....and according to the article, his car is a Jeep Liberty.
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Post by Tex on Apr 22, 2011 13:14:04 GMT -6
Tex, you're a CPA type dude, right? Can you answer a simple question? Suppose I have 1099 income, but it is not evenly spread all year, and is not even predictable as of April 15. Is there a way I can make Estimated Payments based on how much I made each quarter, rather than making a wild-ass guess at the beginning of the year and paying four equal payments that may or may not reflect reality? That would sure help me out! Thanks........Jake The payments do not have to be equal and can be adjusted by quarter to suit reality. If you file an extension, try to have a good handle on what you owe by that time.
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Post by Chicago Jake on Apr 22, 2011 13:47:59 GMT -6
Thanks, that helps.......Jake
Edit: found it! It's form 2210, which lets you "annualize" your income per quarter. Now the question becomes: how to do that through TurboTax?
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