Obamacare the bigest tax increase in history

FredHayek wrote:

Democracy4Sale wrote: I notice that no one on the right will reply to the math problem:

Here is a little math experiment...Let's say the expiration of the tax-cut for the top 2% goes through. If you make $300,000 the next year, how much extra would you pay in taxes?

Not enough to even make interest payments on the debt.

Not enough to pay the fuel bill on Air Force One for one Obama campaign trip?

Deflectors on MAXIMUM...

C'mon... Just one little stab at reality? Let's say the expiration of the tax-cut for the top 2% goes through. If you make $300,000 the next year, how much extra would you pay in taxes?

(I love how any FACTS that might screw up your talking-points and outrage is so scary to you.)

What's the value of your health insurance package? Does it meet the "Cadillac" designation contained in the ACA? How is the $300K earned? Is the earner self-employed? You have to give us details if you want an accurate answer.

Democracy4Sale wrote: Deflectors on MAXIMUM...

C'mon... Just one little stab at reality? Let's say the expiration of the tax-cut for the top 2% goes through. If you make $300,000 the next year, how much extra would you pay in taxes?

(I love how any FACTS that might screw up your talking-points and outrage is so scary to you.)

You don't provide enough info. Single or married for one?

And what was this 3.9% you first mentioned? None of the Bush tax cuts that I know of amounted to 3.9%.

Are the ACA tax increases to be included as well? If not, and if you are only talking about the Bush tax cuts, what's this even got to do with this topic?

Pick one... The rate for the highest bracket before the Bush tax cuts was 39.6%...The rate ror the highest bracket after the Bush tax cuts was 36%.

39.6% - 36% = 3.9% ... Please try to keep up...

It's a simple question... If you make $300,000 the next year, how much extra would you pay in taxes?

Democracy4Sale wrote: Pick one... The rate for the highest bracket before the Bush tax cuts was 39.6%...The rate ror the highest bracket after the Bush tax cuts was 36%.

39.6% - 36% = 3.9% ... Please try to keep up...

It's a simple question... If you make $300,000 the next year, how much extra would you pay in taxes?

No, the rates would go from 35% to 39.6% and from 33% to 36%.

And the answer is different if you are single vs. married. Any dividends, capital gains, or tax free income part of that 300K?

It's clear to me that since you can't ask the question correctly, you can't even answer your own question correctly.

I thought the current top rate was 35% too. I don't think the actual income brackets are even defined until the IRS releases the 2012 forms? And then there is always the last minute AMT fix. All kinds of variables. Who knows and WTF cares unless you make $300K and need to calculate your withholding to avoid penalties.

Scared to answer the question, I see...

You can hear the surprise in *MY* voice...

Okay... Since we have to split hairs about the rates, and my example was perhaps too close to the break in the rates...

Here is an alternate version...Feel free to deflect from it too..

If you make $375,000 now (at 35%), and the new rate goes into effect, how much more would you owe... assuming the same AGI?

http://www.forbes.com/sites/moneybuilde ... tax-rates/

Tax Bracket Married Filing Jointly Single
10% Bracket $0 – $17,400 $0 – $8,700
15% Bracket $17,400 – $70,700 $8,700 – $35,350
25% Bracket $70,700 – $142,700 $35,350 – $85,650
28% Bracket $142,700 – $217,450 $85,650 – $178,650
33% Bracket $217,450 – $388,350 $178,650 – $388,350
35% Bracket Over $388,350 Over $388,350


Looks like if you are single, 33% bracket goes to 36%, so 3% of the amount over 178,650? Just a guess. They may be talking about changing the bracket dollar numbers though to 200K and 250K, I am really not sure what the latest deal is.

Nope... If you make $375,000 now (at 35%), and the new rate goes into effect, how much more would you owe... assuming the same AGI?

Before: $375,000 * 35% = $131,250

After:
You pay the SAME RATE up to the $250,00 break... So, $250,000 * 35% = $87,500
$375,000 - $250,000 = $125,000 difference.... You would pay 39.6% on ONLY that part that is over $250,000 = $49,500
$87,500 + $49,500 = $137,000

Difference: $137,000 - $131,250 = $5,750 ...

These are NOT "effective rate"...(think: Mitt Romney's "effective rate" is about 14.9%) So, obviously, if you're in that tax-bracket you can afford to have someone that can reduce your effective rate, and that $5,750 difference could be made to disappear... (think: offshore accounts in the Cayman Islands, Bermuda, Switzerland....)

But WOW... You mean asking a "job creator" to pay $5,750 more in taxes will hurt job-creation? How many jobs could you create with $5,750?

Spare me your caterwauling about how much the expiration of the top Bush tax-cuts is going to cost...

(Where is that icon for the "World's smallest violin playing 'Hearts and Flowers'"...?)