The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/ohwow-quoteven-though-our-taxes-go-up-32928168.aspx

Subject:  Re: Our GOP Tax Bill Rant Date:  12/19/2017  3:23 PM
Author:  telegraph Number:  126644 of 131386

Oh...wow......

"Even though our taxes go up, I can't complain, because of the very preferential treatment of investment income over wage income. Our net tax rate (not marginal rate) even under the new law is under 10%; it is under 8% under current law. "

You previously paid 8%? That's barely enough to keep the lights on in Congress...well,not even......
Gimme a break.....you were living 'cheap' for sure.

Now it goes up to UNDER 10%. So you pay about an extra $1000 in taxes in your high tax state. Not even 10% of your income.

I'd bet 50 million out there would love to swap tax rates with you.

Last year I think I paid about 17% of my income in fed taxes and about half my income is in qualified dividends. I might save a few bucks this year with the higher standard deduction.....in my lower tax state (no income tax).

Might be time for those high tax blue states to get their houses in order.. Why should everyone else subsidize them? Let folks write off tens of thousands in state taxes and super high real estate taxes....so we got to pay more to keep the government working?

really...paying 'less than 10%' of your income to Uncle Sam. Oh horrors! Sounds like you are paying more than that to the state and your real estate tax entity.


t
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us