(no subject)
I know I never do politics posts but I'm having trouble understanding the issue here.
So after a wonderful night of not being able to sleep, I went through a great deal of The Daily Show that I hadn't seen since I last burned myself out. This whole deal with the medical care for first responders is outragous, especially this whole deal where the tax cuts for the wealthy have to be extended for two years before the republicans will even consider talking about the issue.
Now let me see if I have the math right, currently if you make 200k/yr, you pay 36% or 72k in taxes. If the tax cuts expire, they'll go up to 39% or 78k. That's a difference of six thousand dollars. I realize this is an oversimplification but I have two questions here.
1) How can you not live on 122k/yr?
2) Isn't there things like tax shelters still where one can "protect" their income from being taxed? If so why does the taxes going up matter at all?
I assume I'm just in the wrong income bracket to understand this sort of thing.
So after a wonderful night of not being able to sleep, I went through a great deal of The Daily Show that I hadn't seen since I last burned myself out. This whole deal with the medical care for first responders is outragous, especially this whole deal where the tax cuts for the wealthy have to be extended for two years before the republicans will even consider talking about the issue.
Now let me see if I have the math right, currently if you make 200k/yr, you pay 36% or 72k in taxes. If the tax cuts expire, they'll go up to 39% or 78k. That's a difference of six thousand dollars. I realize this is an oversimplification but I have two questions here.
1) How can you not live on 122k/yr?
2) Isn't there things like tax shelters still where one can "protect" their income from being taxed? If so why does the taxes going up matter at all?
I assume I'm just in the wrong income bracket to understand this sort of thing.