Anyone here not voting besides me?

[BlvdBrawler]

What taxes have went up?

You stated that you are not voting for Prez because your taxes are going to go up regardless ( that statement demonize taxes which in itself is ignorant, but that's another story).

Tax rates rates have not changed since the year 2000, when that change occurred they actually went down.


Under Obama, Taxes Hit A 30-Year Low | ThinkProgress


So you are the only person in America saw an increase in Taxes

I don't know what to tell you my man. My tax rate went up.

 

[Consigliere]

It always bugs me out when I read these kinda threads and I see minorities discouraged from voting.

I dont get how you can be a minority and the only issue that effects your desire to vote is monetary policy.

'Like yo dawg the Fed isnt audited (it is). The money isnt backed up by gold. The bankers are running things. Thats why they killed James Garfield.'



I encourage all of yall to dig a little deeper into the issues that separate the two parties. Maybe consider that whoever wins will get to set the Supreme Court up for the next 20 or so years of your life. Maybe look at how one candidate wants to raise your taxes and the other wants to cut them. Maybe consider that your paycheck is being taxed for programs that won't exist when you retire.

Apathy is disgusting. Its compounded when you factor in that this is a referendum on the first Black president and we're trying to work our way out of a great recession.

 

[CrimsonTider]

Let's be reality, your taxes are going to go up anyway, we gotta start paying back the money we borrowed somehow.

But either way, it shows how much of these so called Higher Learning nikkas know about the system. If you want to see political activism done right, we need to see the Latino community, these folks have damn near made the same amount of progress in 15 years that Blacks have made in the past 30 plus. They are not only politically active but they vote at every level, you have politicians on both sides begging for their vote.

Latino did not start from the same place we did. Unfair to compare them to us.

Blacks are Politcially active and vote at every level as well.

I don't know what to tell you my man. My tax rate went up.

Bruh, if you made enough money from one year to the next to enter a new tax bracket your rate went up as it should have because since the beginning of time have been on a progressive tax system.

If you have made the same money your tax rate has been the same for 11 years.

The fact that you made more income and paid more taxes on it doesn't mean your taxes went Up

 

[BlvdBrawler]

Bruh, if you made enough money from one year to the next to enter a new tax bracket your rate went up as it should have because since the beginning of time have been on a progressive tax system.

If you have made the same money your tax rate has been the same for 11 years.

The fact that you made more income and paid more taxes on it doesn't mean your taxes went Up

I didn't enter a new tax bracket, breh. And of course the dollars paid would go up if I made more income, but I'm taking effective tax rate.

Here, I'll give you #'s since it's apparently incomprehensible that someone's taxes can possibly have gone up in America .

2009 | Adjusted Gross Income $ 72,038.00
Federal | Taxable Income $ 53,631.00
Tax | Total Tax $ 9,478.00
Return | Total Payments/Credits $ 11,858.00
Summary | Amount to be Refunded $ 2,380.00
| Effective Tax Rate 13.16%

2010 | Adjusted Gross Income $ 81,637.00
Federal | Taxable Income $ 60,456.00
Tax | Total Tax $ 11,300.00
Return | Total Payments/Credits $ 14,146.00
Summary | Amount to be Refunded $ 2,846.00
| Effective Tax Rate 13.84%

2011 | Adjusted Gross Income $ 80,312.00
Federal | Taxable Income $ 66,646.00
Tax | Total Tax $ 12,781.00
Return | Total Payments/Credits $ 16,523.00
Summary | Amount to be Refunded $ 3,742.00
| Effective Tax Rate 15.91%

Seeing a trend?

Again, if your tax rate has gone down, that's great. I wish I was there with you, but I'm not. That's why you can't just listen to the statistics and shyt, but you have to examine how each candidate would affect your life.

For me, my taxes are going up either way so .

And that's just federal. Don't even get me started on the fukking state of AZ, but that's another rhyme for another time.

 

[CrimsonTider]

I didn't enter a new tax bracket, breh. And of course the dollars paid would go up if I made more income, but I'm taking effective tax rate.

Here, I'll give you #'s since it's apparently incomprehensible that someone's taxes can possibly have gone up in America .

2009 | Adjusted Gross Income $ 72,038.00
Federal | Taxable Income $ 53,631.00
Tax | Total Tax $ 9,478.00
Return | Total Payments/Credits $ 11,858.00
Summary | Amount to be Refunded $ 2,380.00
| Effective Tax Rate 13.16%

2010 | Adjusted Gross Income $ 81,637.00
Federal | Taxable Income $ 60,456.00
Tax | Total Tax $ 11,300.00
Return | Total Payments/Credits $ 14,146.00
Summary | Amount to be Refunded $ 2,846.00
| Effective Tax Rate 13.84%

2011 | Adjusted Gross Income $ 80,312.00
Federal | Taxable Income $ 66,646.00
Tax | Total Tax $ 12,781.00
Return | Total Payments/Credits $ 16,523.00
Summary | Amount to be Refunded $ 3,742.00
| Effective Tax Rate 15.91%

Seeing a trend?


Again, if your tax rate has gone down, that's great. I wish I was there with you, but I'm not. That's why you can't just listen to the statistics and shyt, but you have to examine how each candidate would affect your life.

For me, my taxes are going up either way so .

And that's just federal. Don't even get me started on the fukking state of AZ, but that's another rhyme for another time.

do you know what an effective tax rate is?

It's an estimate. It tells you what tax Rate You WOULD HAVE PAID if we were on a flax tax.

Effective tax rate = Taxes paid/ Gross income( which you don't provide, but it could be found through algebra)


The effective tax rate is non sense for this discussion.

It's main use is in corporate taxation. It's used as a basis to determine future estimated tax payments

The taxes you actually paid are( taxes paid/ taxable income)

2009- 18.17%

2010- 18.69%

2011- 19.17 %


But, let's delve deeper.

Your taxable income from 2009 to 2010 went up 11.7% while your tax rate only went up .5 %

From 2010 to 2011 your TAXABLE income went up 9% yet your tax rate only went up .48%

Do you see the type of deal your government is giving you? You are paying more tax because you have more income, but the tax rate increase is negligible compared to your increase in income.


But, here is the caveat to this info you provided

Through credits and deductions put in place by the government.

The Taxes you SHOULD have been paying are not what you actually paid


2009
You should have made a payment of $11,858. You only paid $9,478
A 20% decrease in your tax expense

2010
You should have paid $14, 146. You only paid $11,300. A 20% decrease

2011
You should have paid $16,523. You paid $12,781. A 23% decrease.

So once again I ask. You are the only person in America who taxes when up

As Bill Clinton said Wednsday, "IT'S CALLED ARITHMETIC"

 

[BlvdBrawler]

do you know what an effective tax rate is?

It's an estimate. It tells you what tax Rate You WOULD HAVE PAID if we were on a flax tax.

Effective tax rate = Taxes paid/ Gross income( which you don't provide, but it could be found through algebra)


The effective tax rate is non sense for this discussion.

It's main use is in corporate taxation. It's used as a basis to determine future estimated tax payments

The taxes you actually paid are( taxes paid/ taxable income)

2009- 18.17%

2010- 18.69%

2011- 19.17 %


But, let's delve deeper.

Your taxable income from 2009 to 2010 went up 11.7% while your tax rate only went up .5 %

From 2010 to 2011 your TAXABLE income went up 9% yet your tax rate only went up .48%

Do you see the type of deal your government is giving you? You are paying more tax because you have more income, but the tax rate increase is negligible compared to your increase in income.


But, here is the caveat to this info you provided

Through credits and deductions put in place by the government.

The Taxes you SHOULD have been paying are not what you actually paid


2009
You should have made a payment of $11,858. You only paid $9,478
A 20% decrease in your tax expense

2010
You should have paid $14, 146. You only paid $11,300. A 20% decrease

2011
You should have paid $16,523. You paid $12,781. A 23% decrease.

So once again I ask. You are the only person in America who taxes when up

As Bill Clinton said Wednsday, "IT'S CALLED ARITHMETIC"

Admittedly, I did not know what effective tax rate was until you just educated me.

Still though...

Your taxable income from 2009 to 2010 went up 11.7% while your tax rate only went up .5 %

Is that not an increase in tax rate?

From 2010 to 2011 your TAXABLE income went up 9% yet your tax rate only went up .48%

Is this not an increase in tax rate?

Despite being in the same tax bracket, which direction are my taxes going? Unless you're saying I should expect my tax rate to go up without crossing brackets. I don't know.

 

[CrimsonTider]

I appreciate what you're trying to do, but you... don't get it.

Lets just agree to disagree on this one.

you posted a percentage that is it not even used in the calculation of your taxes and I don't get it?

No one educated on tax accounting would look at the info you provided and say your taxes went up.



Let me state this last fact as to why your original point about your tax dollars going up is a reason not to vote is the dumbest shyt ever.

2011 was your biggest year for income at $66,464

2011 US Media income was $51,413

In 2011 you made more than 23% more than the best indicator for an normal American household income.

Your were taxed 19.17% and the majority if America was taxed 17.46%.

You only pay 1.71% more income taxes yet you make 23% more than most Americans

And you have the nerve to complain

You have indirectly described why raising the tax on the rich is so important.

 

[CrimsonTider]

Admittedly, I did not know what effective tax rate was until you just educated me.

Still though...



Is that not an increase in tax rate?



Is this not an increase in tax rate?

Despite being in the same tax bracket, which direction are my taxes going? Unless you're saying I should expect my tax rate to go up without crossing brackets. I don't know.

No, your taxes didn't go up. Your income did.

That 11.7% increase was taxed at .5%

Same as the be year. The 9% increase was taxed at the .48 increase.

 

[BlvdBrawler]

Your taxes went up because you made more money. That's what a progressive tax is.

You don't think the increase in money should be taxed?

Sure it should, but at the same rate. is that not the point of tax brackets?

 

[CrimsonTider]

Sure it should, but at the same rate. is that not the point of tax brackets?

Your money is taxed in each bracket.

Let's say for example you made 100,000 in 2011.

Let's make up some imaginary tax brackets

1. Tax rate 10% income between 0 and 10,000
2 tax rate 15% income between 10,001 and 30,000
3 tax rate 20% income between 30,001 and 100,000

Your first $10,000 is taxed at 10%= 1,000
Then 30,000-10,000 is taxed at 15% = 3,000
Last 100,000-30,000 is taxed at 20% = 14,000

The person who makes 95,000 will only have 65k taxed at a higher rate compared to the person who makes 100,000 will have 70k taxed at a higher rate.

Youre tax bracket is determined by the highest rate applied to any of your income.

Basically, the more money you make the "more" is taxed at a higher rate.

As I said, we have slipped into the details on why the rich want tax cuts. They feel like the government penalizes you for making over 250,000k by taxing all that money at a high rate.

This also goes into the debate of flat vs. progressive tax

 

[CrimsonTider]

But, check this out. Your tax will actually DECREASE next year because more money will be taxed in lowered tax bracketed compared to 2011.

 

[PortCityProphet]

I bet y'all fools would complain if they took away your right to vote. And if you're voting for the 1st time don't let these jabronis discourage you from doing so.

 

[BlvdBrawler]

Your money is taxed in each bracket.

Let's say for example you made 100,000 in 2011.

Let's make up some imaginary tax brackets

1. Tax rate 10% income between 0 and 10,000
2 tax rate 15% income between 10,001 and 30,000
3 tax rate 20% income between 30,001 and 100,000

Your first $10,000 is taxed at 10%= 1,000
Then 30,000-10,000 is taxed at 15% = 3,000
Last 100,000-30,000 is taxed at 20% = 14,000

The person who makes 95,000 will only have 65k taxed at a higher rate compared to the person who makes 100,000 will have 70k taxed at a higher rate.

Youre tax bracket is determined by the highest rate applied to any of your income.

Basically, the more money you make the "more" is taxed at a higher rate.

As I said, we have slipped into the details on why the rich want tax cuts. They feel like the government penalizes you for making over 250,000k by taxing all that money at a high rate.

This also goes into the debate of flat vs. progressive tax

Thanks for the breakdown, breh.

 

[feelosofer]

But, check this out. Your tax will actually DECREASE next year because more money will be taxed in lowered tax bracketed compared to 2011.

+ rep for education

 

[thekingsmen]

It's sad when blacks are on the board talking about tax brackets when their brothers and sisters are dying from drugs/gangs/cops and the president wont speak on it but you fools will vote for "My President is Black".