Obamacare the bigest tax increase in history

Wouldn't it just be simpler to say 4.6% * 125,000 = $5750 ? Your calculations are strange, but whatever.

I did like the new word caterwauling though.

1. To cry or screech like a cat in heat.
2. To make a shrill, discordant sound.
3. To have a noisy argument.

n.
A shrill, discordant sound.

It would have been, but since it seems to be a proven fact that some here have trouble following math (and facts), I thought it better to take it step-by-step so we didn't lose anybody.

And thanks for the usual, expected, ubiquitous deflection and non-response to the FACT that the tax increase for someone at the $375,000 level is a whopping $5,750...

Sux to be some of you, doesn't it...

Democracy4Sale wrote: The rate for the highest bracket after the Bush tax cuts was 36%.

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

Nope. it is 35% not 36%

39.6 - 36 = 3.6% (Please check your calculator batteries)

So you should have wrote 39.6- 35 = 4.6% for the new highest bracket change.

(Your welcome for the corrections- no charge)

Folks, this concludes the Lady Jazzer advanced Math and Tax calculations course. Is everyone clear on this now? Bottom line is you can now go demand $5K from your neighbor who makes 300K and tell him he is a greedy bastard SOB. He may call the police though.

No, THIS concludes my course on tax and math calculations:

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'"...?)

Are you clear now?

Democracy4Sale wrote: No, THIS concludes my course on tax and math calculations:

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'"...?)

Are you clear now?

The only thing you are proving is that you don't have a clue how to calculate income tax.

First of all, you don't calculate the tax by multiplying $375K x 35%. Apparently you don't understand how tax brackets work. You don't pay 35% on the full amount. Using the 2012 estimated rates from Forbes, for a single person making $375K the first $8,700 is taxed at 10%, the next $8,700-$35,350 at 15%, the next $35,350-$85,650 at 25%, the next $85,650-$178,650 at 28%, and the next $178,650-$388,350 at 33%. That would result in a tax of thousands less than your calculation.

You didn't even get the 35% right because a person making $375K isn't even yet in the 35% tax bracket which starts above $388,350. Plus you forgot to include the personal exemption and the standard deduction, both of which would reduce the tax owed even more.

I just wish I did your income taxes. You could pay me using your method, and I could pocket the rest.

Needless to say, all the rest of your calculations are wrong as well for similar reasons.

In addition, you didn't include the ACA's tax increases. Add an extra 3.8% to any investment income, plus your Medicare payroll tax goes up .9%.

I suggest you do more studying before trying to calculate income taxes anytime in the future...

Wow, so that means the "tax increase" (read: expiration of the tax cut) will be even less than the $5,750 than I calculated. Thanks for clearing that up.

keep digging LJ

Maybe you should stick to copy/pasting HuffyPost articles. You have that down pretty good. Math and taxes, not so good.

"Obamacare the biggest tax increase in history"

No, it isn't...

Democracy4Sale wrote: "Obamacare the biggest tax increase in history"

No, it isn't...

OK, the final word from our resident "tax expert".