So my best friend got hit with a huge tax bill this year just because he got married. I am not going to go into specifics but long story short and simple married couples with a combined income of 200k or more get's a tax hike vs if they were both filing separately 100k each or 150k and 50k. He started a petition online and was looking for more people to sign http://wh.gov/ifL4S
How much tax are we talking about here? I know the system is fcked up, a lot of new immigrates but people in general are getting the food stamps/ebt cards to buy food and getting government housing and health care. So the people who pay taxes have to fork up the money. These things are important but some of these people are just abusing the system that was meant to help those that need it.
I don't know the laws of the US but in France we have "levels" when you reach one level you have to pay a certain amount so when you get married you may pay less than the 2 people alone. If the 2 people together just cross the level we can't do anything but to pay
I don't want to disclose how much my buddy and his wife makes, but essentially he would pay a hell lot less in taxes if he was filing single. Let's say it's 10k in taxes.
You've already said, couples that make a combined 200k or more.......deal with it.....we barely hit 50k here
Not sure which subreddit would be appropriate but try posting on reddit, could pick up some traction there too.
And donating to charity as well! But yeah if you make that much you got to pay it! Obviously IMO they're high class though. Middle class is suffering while the low and high are doing well. Also if they put more into their retirement it should help as well.
Arg stupid Federal took my refund cause I owe them from 2013. Love how they do that, even though I'm already paying them back in payments.....
its better to be on welfare than to work full time these days. people on welfare with x amount of kids get a lot of money from the government. with tax and pension and everything i had over 20k in deductions. The more you make the higher you get taxed so it is best to make just under the next tax bracket or get retirement savings plan
Yeah I feel like it's better be just dirt poor then...then be middle class these days...I do have retirement but it's a 403B so it wouldn't really help sigh.
I have heard of people getting legally divorced so that they're not considered "married" for tax purposes. However, the higher in income bracket, even with a separate income, the more tax they generally impose. But historically, the affluent in the US has been taxed less and less than what they were used to already. In fact the uber rich, the top tiered one percenters, have actually had most of their taxes drastically slashed if compared to those their grandparents paid. Or... allow me to do the math; your friend pays 28% right now on his combine 200K. In 1956, he would have paid 89% on that same 200K. See here: http://taxfoundation.org/sites/taxfoundation.org/files/docs/fed_individual_rate_history_nominal.pdf Starting a petition isn't going to help with tax angst. The government has heard it all and they won't shed a tear. The best advice here is for your pal to take his lumps but be prepared next year; hire a capable tax accountant and look for legal tax loopholes. Take advantage of such things as a flexible spending account and pre tax retirement plans for both him and his wife; made charitable donations where the receiving organization give you "value of" tax receipts, et cetera et cetera. There are loads of legal tax avoidance strategies but it won't help anyone unless one knows about them. Again the best person to help is a competent tax accountant; one who not just fills out your forms for you, but one who takes the time to sit down and have a long discussion with you on available tax strategies from year to year, advising you of the potential risks and benefits of each. There are often good accountants everywhere, but too often, they're lazy. Your friend needs one who is not only good, but one who pursues a client's case like the accountant having his own money on the line. As for tax and welfare cheats; don't even get me started. I know many of them (all Chinese, all immigrants) and I've actually been tempted to notify the authorities on them except the missus stopped me. "Bad Karma" and all she says, as I grind my teeth when they regale me with how easily they cheat the government and MY tax dollars.
Yeah I know someone that got a divorce so that they could file for bankruptcy without having to drag the wife in it as well...And yup it's either be poor to take advantage of all the welfare stuff or be rich, us middle class people get hit with it the most! Agree with you on the peeps that take advantage of the welfare system sigh.
