The Taxes are Done and off to the Tax Guy for Filing.

[Long Run]

Although many states have "mini-COBRA" laws that apply to employers with fewer than 20 employees (COBRA does not apply to small employers). I am waiting for Gob to comment on this example of the patchwork, with some missing holes, that makes up our healthcare system.

[oldr_n_wsr]

I have always worked for companies that have had 100+ employees, so I don't know about small companies and the rules/laws they operate under. I know when I was collection UI all of it went to COBRA with nothing left over to live on. Good thing I was a miser and saved and could live basically on my wifes part time salary without dipping into savings (too much).

[Gob]

As originally enacted, Title X of the Act provided that a qualifying employer will not be permitted to take a tax deduction for its health insurance costs unless its health insurance plan allows employees of the employer and the employee's immediate family members who had been covered by a health care plan to maintain their coverage if a "qualifying event" causes them to lose coverage. However, the legislation was subsequently amended to instead impose an excise tax upon an employer whose health plan fails to satisfy the applicable rules. A qualifying employer is generally an employer with 20 or more full time equivalent employees

You Americans have a wonderful way of complicating things.

[RayThom]

... was deposited into my checking account on February 8th. So there.

[Jarlaxle]

I put my tax return in the mail this past weekend.

[rubato]

You Americans have a wonderful way of complicating things.

Its easy when you start with a fundamentally bad system and then throw patches on it.

yrs,
rubato

[oldr_n_wsr]

And have you contributed your "fair" share?
Maybe more than your fair share?
You said you don't mind paying your taxes. When almost 60% of my salary goes to the gov be it local taxes, property taxs, federal taxes, FICA, medicxxx I think that is way above and beyond. More than half!?!?!?!?!? of my earned income goes to the various govs!?!?!?!?!??!
You wanna give more, be my guest. Somehow I doubt you give more than you absolutely must.
Tell me I'm wrong.

[Crackpot]

Getting a small refund!

Though over the last couple of years I understand where many in the "upper" middle class get ticked about the taxes they are paying. At $100k you rapidly lose most lower income deductions yet you make nowhere near enough to take advantage of "upper income" deductions. We got smacked with nearly a $5000 tax bill last year for no other reason than it was the first year that both my wife and I spent the year employed.

[oldr_n_wsr]

Don't worry, Obama distributed that $5K to others more deserving.
And you got a 2% tax raise this year despite the admins vow not to raise taxes.

[Crackpot]

Seriously vgive it a ticking rest

[oldr_n_wsr]

When they give my taxes a rest I'll give them a rest. Paying almost 60% of my pay to various taxes, to me, is way too high. Don't you think you should keep more than 40% of the money you earned?

[Crackpot]

Then Move You either have insane stae and local taxes oor you're counting deductions which aren't tax.

[Big RR]

Don't worry, Obama distributed that $5K to others more deserving.
And you got a 2% tax raise this year despite the admins vow not to raise taxes.

Whoare those he is distributing it to? My guess is much of it goes to fighting the wars/keeping the occupation in the middle east; keeping Guantanamo and other more secret political prisons open, espionage in the name of security, etc. It's not like a lot of people are getting any money distributed to them.

And FWIW, how do you equate ending a tax cut shich was always understood to be temporary with raising taxes? Or do you think every tax cut, even those temporarily enacted to spur economic activity (rightly or wrongly), must be permanent?

[Guinevere]

Oldr, you must be doing the math wrong, or you need to adjust your withholding, or you need to get the hell out of Long Island.

I got paid today, so I have my pay stub and just sat down and did the math. I am a top quintile earner, but I am not anywhere near the top of the quintile. I'm taxed at a higher rate, but not the highest rate. I'm also a single earner household (my cat does not earn a salary or count as a dependant). I claim extra exemptions so that I get the maximum use of my cash during the year, and at the end of year, given my deductions for mortgage interest and property taxes, plus charitable giving, I end up owing about $1000 in additional payments to the feds, and usually half that to the state.

The deductions for federal and state income tax, social security tax, and medicare tax, plus a pro-rated amount for my property tax (1/26 of my annual assessment, rounded up), constitutes about 30% of my gross bi-weekly pay.

[oldr_n_wsr]

I am talking about every penny paid in taxes. 20-30% in fed taxes. 8.65% in sales taxes. Over $7K per year in property taxes. 20% on fuel for my car (between local, highway, state and fed). By the time I calculate every tax, the gov from local to the feds the "gov" take almost 60%.

And as far as some "temporary" tax cut that expired, I'm sorry, it was a tax cut and any kind of taking more money out of my paycheck constitutes a "tax raise" in my book. Anyone ever see a temporary "tax raise" that didn't (or hasn't) become permanent?

Any time I go from paying $X to paying $X + 2% is a tax raise as far as I am concerned. Obama said no tax raises on the middle class. He lied. Plain and simple. I, the middle class, am paying more taxes today than December 2012. No question, no answer, he lied.

[Guinevere]

He said no raises in the income tax rate. And your income tax rate didn't change.

As for what happened with the social security tax increase, the temporary cut expired, and it was up to Congress to resolve that. They didn't. Not sure how you can blame that on the President. You can be as petulant as you want about it, but you're absolutely incorrect.

And BTW, your math is very very very fuzzy. You're lumping together tax rates that shouldn't get lumped together (for example, you don't pay 20-30% federal income tax on every dollar you earn. Some dollars aren't taxed at all, many are taxed at a lower rate). Plus you're ignoring exemptions and deductions, which reduces your effective tax rate that much more. I'm sure you are not paying 60% of what you earn to any government, and making shit like that up doesn't do any argument any good.

[Crackpot]

Then why weren't you signing Obamas praises for the cut? Or proposing a altenate solution for the cut? Oh yeah blame is easy. I just read that somewhere

[oldr_n_wsr]

He said no raises in the income tax rate. And your income tax rate didn't change.

My income in December was $X, my income in January was $X - 2% (and I assume yours is similar). To me that is an income reduction aka more taxes were taken out of my earned income. I don't care where that money is slated to go as it all goes into a general fund as there is no "lock box" that soc sec, medi-care/caid goes into to save for my retirement or my health plan when I retire.
Worse than that it is not offest as it is not involved with figuring my AGI so it's right off the top of my earned income.

Then why weren't you signing Obamas praises for the cut? Or proposing a altenate solution for the cut? Oh yeah blame is easy. I just read that somewhere

I beleive the cut was imposed before Obama. And yes, I blame those currently in power be it Obama and the house and the senate. I do not have a political affiliation. All are to blame. I just don't believe in blaiming people 4-8-12 years ago as what has happened has happened. Those in power now have the means and the ways to fix it now. Can't fix the past. Only hte present can make it better for the present and the future. I see neither happening.

[oldr_n_wsr]

And BTW, your math is very very very fuzzy. You're lumping together tax rates that shouldn't get lumped together (for example, you don't pay 20-30% federal income tax on every dollar you earn. Some dollars aren't taxed at all, many are taxed at a lower rate). Plus you're ignoring exemptions and deductions, which reduces your effective tax rate that much more. I'm sure you are not paying 60% of what you earn to any government, and making shit like that up doesn't do any argument any good.

Ok lets do the math.
20-30% in income tax to the feds be it soc sec, medi-whatever and regular income tax. Can we agree on that? Lets take 25% thats in the middle.
Lets say I make $100K (not far off) so the feds let me keep $75K.
NY State takes 7% so now I get to keep $69750.
Already I have paid 32% of my pay in taxes to the feds and state.
Then we subtract over $7500 for property taxes and now we are down to $62250 which is about 40% in taxes paid.
Not that I have $62K+ because a bunch of it went towards the health plan, somewhere in the 10K range but that's before taxes not that the gov cares as I really haven't dropped down in the tax bracket.
But now it gets a little complicated.
Sales tax (of which only groceries are not subject to) is 8.625%. So other than food, I pay that rate.
On top of that I pay over 26 cents per gallon of gas in NY taxes and thats just the state. The county collects another 4% per dollar on top of that (not per gallon, per dollar. they did say that when a gallon goes over $3 they were not going to collect above that, but they never redid their tax tables to reflect that so that is another lie and they continue to collect on the higher cost. Gas is now $3.95 per gallon).

So maybe 50% of every dollar I earned might be a little more reasonable as opposed to the 60%. But I would doubt that les than 50% of my money goes to some sort of tax be it fed payroll, state payroll, property, sales, gasoline, etc taxes. And to me, a gov (general gov from local to feds) taking 50% of what womeone earns is ridiculous. I may join the illegals and go off the books.

[Crackpot]

I beleive the cut was imposed before Obama.

nope he cut it three years ago (for a year and it got extended twice.