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ate all the Oreos posted:"starting at your age you'll have over two million dollars by the time you retire!" and i'm like "ok but 40 years from now that's not actually very much money" and she just kinda went "oh :/" and changed the topic to trying to sell me on some managed portfolio bullshit with a 2% expense ratio lol
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Jan 23, 2018 20:15
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it'll be awesome once wall street banks figure out how to steal 401ks like they did to pensions
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Jan 23, 2018 20:16
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good atlantic article about the desperate sub-minimum-wage piecemeal task economy: https://www.theatlantic.com/business/archive/2018/01/amazon-mechanical-turk/551192/
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Jan 23, 2018 20:18
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817 posted:For example where I live, if you are a student who works on the side to make ends meet and your monthly income exceeds some (low) limit, you lose your right to your education benefit in whole for that month and the ministry will bill you for it plus interest. Or for those who worked multiple jobs part time (and therefore probably not doing too hot financially anyway), your secondary income used to be automatically in a higher tax bracket just because. Or if you are a farmer making just over a certain limit, your entire income will get knocked to a higer tax percent, or.... sorry about your lovely tax bracket system but ours doesn't work that way plenty of idiots think it does tho so it's a great filter for knowing who's too ill informed to bother listening to here in freedomland
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Jan 23, 2018 20:19
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qirex posted:it'll be awesome once wall street banks figure out how to steal 401ks like they did to pensions they are going after social security first by convincing everyone "there will be nothing left in 2057 we mean it this time!!!"
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Jan 23, 2018 20:19
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as their final victory, millennials destroyed millennials
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Jan 23, 2018 20:22
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can't wait for the final victory over those wily boomers by destroying the social safety net for retirees and redirecting wealth toward a few already wealthy individuals that'll show 'em
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Jan 23, 2018 20:26
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chef posted:she was right, except her figure was in today's dollars. stocks and your salary will keep pace with inflation. i mean her figure was her pulling a big number out of her rear end without any other information but sure
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Jan 23, 2018 20:27
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Munkeymon posted:sorry about your lovely tax bracket system but ours doesn't work that way i mean this is absolutely how basically every welfare system works in america though, it's just not done through taxes (yet  )
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Jan 23, 2018 20:29
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actually now that trump gave the ok for states to require working to get medicaid i wonder if states could set up income-based shenanigans where doing that bare minimum wage work is enough to disqualify you from medicaid
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Jan 23, 2018 20:31
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haveblue posted:as their final victory, millennials destroyed millennials loving poetic, that is.
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Jan 23, 2018 20:35
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ate all the Oreos posted:actually now that trump gave the ok for states to require working to get medicaid i wonder if states could set up income-based shenanigans where doing that bare minimum wage work is enough to disqualify you from medicaid why do you think they want means testing to begin with lol
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Jan 23, 2018 20:35
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Munkeymon posted:sorry about your lovely tax bracket system but ours doesn't work that way Well, the income tax system itself here in Market Socialistan is pretty rational these days, but the maze of benefits, subsidies and service charges can make it pretty much illegal to be a working poor. Like, the worst case I came across when I was a cog in the gig economy was: - Laid off long enough ago that any union income was over. - Lived in a house she owned so couldn't take advantage of any preferential housing. Had to keep paying off the loan. - Already had college education so any subsidized retraining was basically out of the question. - Lived in the countryside so had to drive to work. - Since she worked a day here and a week there, no unemployment benefits and no housing benefits. - No kids so didn't even get hers back via free/subsidized daycare, education, etc. for the children. - Even "Free healthcare" costs something. So ultimately she couldn't even take any work offered because she couldn't pay for the gas to get there. Nor go to the doctor for anything non-essential. Her choices were basically to either become a welfare bum and lose everything or start her life over at the spry young age of 50 or so (and lose everything, probably).
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Jan 23, 2018 21:01
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Jonny 290 posted:got raise, tax bracket bump, less take home lol if you work w/ computers and don't understand how tax brackets work just lmao
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Jan 23, 2018 21:03
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H.P. Hovercraft posted:lol if you work w/ computers and don't understand how tax brackets work I mean, if he changed his withholding after the raise I guess he could end up with a lower take-home, but that's not a result of the bracket itself? 
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Jan 23, 2018 21:05
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Schadenboner posted:I mean, if he changed his withholding after the raise I guess he could end up with a lower take-home, but that's not a result of the bracket itself? That's usually where people get confused. Adjust your withholdings.
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Jan 23, 2018 21:06
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Schadenboner posted:I mean, if he changed his withholding after the raise I guess he could end up with a lower take-home, but that's not a result of the bracket itself? im sorry but i cant even read this post because of how fuked up that smiley's arms look on amberpos.
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Jan 23, 2018 21:07
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President Beep posted:im sorry but i cant even read this post because of how fuked up that smiley's arms look on amberpos. Problem: found Trap: sprung
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Jan 23, 2018 21:07
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guys, johnny was adding to the stupid posts on the previous page
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Jan 23, 2018 21:08
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Schadenboner posted:I mean, if he changed his withholding after the raise I guess he could end up with a lower take-home, but that's not a result of the bracket itself? no the higher bracket only applies a marginal rate to that range of the income - that's how a bracket works so for example the 28% bracket is $91,901 – $191,650, meaning that only every dollar you earn after $91901 is taxed at 28% until you hit $191650 every dollar below that is at the lower bracket's rate and every one after that is at the higher bracket's rate it's literally impossible to receive a raise and not come out ahead after income taxes
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Jan 23, 2018 21:09
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H.P. Hovercraft posted:no Yes, but if he hosed up his withholding he could be getting a smaller take-home.
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Jan 23, 2018 21:11
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Schadenboner posted:Yes, but if he hosed up his withholding he could be getting a smaller take-home. but if he hosed up his withholding he'll get the money back in his return so he's not actually losing anything. why am i responding to this. you people are morons
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Jan 23, 2018 21:12
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what does withholding refer to ?
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Jan 23, 2018 21:13
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H.P. Hovercraft posted:no But it is possible to come out behind with respect to combined income and government benefits. Edit: apparently there are cases where the poor can have > 100% marginal rates. Spazzle fucked around with this message at 21:17 on Jan 23, 2018 |
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Jan 23, 2018 21:14
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jre posted:what does withholding refer to ? your company takes taxes out of your paycheck for you and pays them for you. you tell them how much to take out when you fill out a W4 form when you start a job. You pick the number of exemptions and if you pick 0, you get taxed more heavily, if you pick like i dunno, 4 or something you get little taxes taken out and usually have a big fat bill at tax time
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Jan 23, 2018 21:14
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Beast of Bourbon posted:your company takes taxes out of your paycheck for you and pays them for you. you tell them how much to take out when you fill out a W4 form when you start a job. You pick the number of exemptions and if you pick 0, you get taxed more heavily, if you pick like i dunno, 4 or something you get little taxes taken out and usually have a big fat bill at tax time Thank you, and also lol at the unnecessary complexity of the US tax system.
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Jan 23, 2018 21:16
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Spazzle posted:But it is possible to come out behind with respect to combined income and government benefits. i come out of my behind after a good rawdog sesh
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Jan 23, 2018 21:17
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wtf are exemptions even? is each exemption some proportional unit of income?
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Jan 23, 2018 21:17
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learn a diff eq for the love of god
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Jan 23, 2018 21:17
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Sagebrush posted:but if he hosed up his withholding he'll get the money back in his return so he's not actually losing anything. Unless the top marginal rate is above 100% it isn't possible for a raise to be a net-loss, but if his withholding is hosed he could still get less in each check which was the narrow issue: "a higher tax bracket leading to a lower take-home" (that is: the amount of a paycheck less benefits and withholding). Also, as noted, the family could also lose eligibility for (e.g.) WIC or Secton 8 or something as a result of the raise leading to a decrease in living standard in real terms?
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Jan 23, 2018 21:18
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don't forget about sales tax, which also goes up when you make more. i try to buy a candybar and it's like $1 now and was only 50 cents when i was a kid cause of all these god drat taxes
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Jan 23, 2018 21:18
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crabrock posted:don't forget about sales tax, which also goes up when you make more. i try to buy a candybar and it's like $1 now and was only 50 cents when i was a kid cause of all these god drat taxes The gay sex FEMA indoctrination camps aren't going to pay for themselves you kulak.
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Jan 23, 2018 21:20
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you could also lose out if you previously lived in a house-bus of some sort out in bfe and then moved into the city where there might be additional taxes those are typically property/sales tho
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Jan 23, 2018 21:21
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crabrock posted:don't forget about sales tax, which also goes up when you make more. i try to buy a candybar and it's like $1 now and was only 50 cents when i was a kid cause of all these god drat taxes free abortions and gay marriages and phds for illegal immigrants
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Jan 23, 2018 21:23
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President Beep posted:wtf are exemptions even? is each exemption some proportional unit of income? you're allowed an exemption for each person that is a dependent of you plus yourself. it reduces the amount of income tax withheld by employers. so a single guy should have 0 or 1 depending on his tax situation while the head of household for a 5 person home would want 4-5.
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Jan 23, 2018 21:23
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jre posted:Thank you, and also lol at the unnecessary complexity of the US tax system. thanks intuit
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Jan 23, 2018 21:23
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haveblue posted:thanks intuit thinuit
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Jan 23, 2018 21:23
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President Beep posted:wtf are exemptions even? is each exemption some proportional unit of income? 1 exemption was worth $4050 in 2017. there are no exemptions in 2018.
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Jan 23, 2018 21:24
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haveblue posted:thanks intuit Also the GOP making tax preparation purposefully difficult and disruptive to reinforce their rhetoric (and the fat sacks of cash from Intuit et. al. don't hurt either).
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Jan 23, 2018 21:25
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i always put 0 exemptions because lol if you think i was going to invest that money and not spend it on candy anyway
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Jan 23, 2018 21:26
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