Andre Iggy, Russell Westbrook and Josh Smith get ambushed about the Bush Tax Cuts

Discussion in 'Blazers OT Forum' started by EL PRESIDENTE, Oct 1, 2010.

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  1. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    http://deadspin.com/5653512/

    haha

    pretty good shit. :lol:

    [video=youtube;lJlTKr0uqMw]http://www.youtube.com/watch?v=lJlTKr0uqMw&feature=player_embedded#at=106[/video]
     
    EL PRESIDENTE, Oct 1, 2010
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  2. MickZagger

    MickZagger Well-Known Member

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    Oh shoot, a guy with an $80 mil contract is only making $40 mil after taxes. My heart goes out to them.
     
    MickZagger, Oct 2, 2010
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  3. Rodolfo

    Rodolfo Double Stamp>Triple Stamp

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    "We might make a lot of money but, we also spend a lot of money."
    -you know who
     
    Rodolfo, Oct 2, 2010
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  4. julius

    julius I wonder if there's beer on the sun Staff Member Global Moderator

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    Isn't the top tax bracket purported to be 39%?

    Is that really "half"?

    The Bush tax cuts lower it what, 3%?
     
    julius, Oct 2, 2010
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  5. Nate4Prez

    Nate4Prez . . . .

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    "How do they feel about losing half of their income to the Obama tax increases?"

    That's not even an accurate question. First, it's not half. Second, they are not tax increases that Obama made, he just isn't extending the ridiculous Bush tax cuts. Finally, with or without the tax cuts being extended each one of them will pay more each year in taxes than I will pay in my lifetime.
     
    Nate4Prez, Oct 2, 2010
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  6. toutlaw25

    toutlaw25 Member

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    Your hatred for Bush has left you delirious. Do you honestly think his tax cuts were "ridiculous." If you're all about paying higher taxes be my guest. You can pay mine for me. Regardless of how "rich" the rich are, a 40% tax rate is absurd.
     
    toutlaw25, Oct 2, 2010
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  7. OSUBlazerfan

    OSUBlazerfan Writing Team

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    I dont think so, i know people that make 150k that pay 40%, millionaires pay 50%
     
    OSUBlazerfan, Oct 2, 2010
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  8. toutlaw25

    toutlaw25 Member

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    Um no. 150k sticks you with a marginal tax rate of 28%.
     
    toutlaw25, Oct 2, 2010
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  9. OSUBlazerfan

    OSUBlazerfan Writing Team

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    Why do i pay like 33% in taxes and i dont even make a lot of money?
     
    OSUBlazerfan, Oct 2, 2010
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  10. julius

    julius I wonder if there's beer on the sun Staff Member Global Moderator

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    I would guess you're including state taxes.

    I don't know how how accurate this is, but http://www.moneychimp.com/features/tax_brackets.htm is a website I found.
     
    julius, Oct 2, 2010
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  11. OSUBlazerfan

    OSUBlazerfan Writing Team

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    Yea im including everything, but for the millionaires, that everything is 50% or higher
     
    OSUBlazerfan, Oct 2, 2010
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  12. julius

    julius I wonder if there's beer on the sun Staff Member Global Moderator

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    depending on the state they live in. In Oklahoma, they're taxed at 5%.

    In Georgia, 6%.

    Pennsylvania? 3.07%

    Where are you getting the 50% #'s from?
     
    julius, Oct 2, 2010
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  13. OSUBlazerfan

    OSUBlazerfan Writing Team

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    In Oregon most likely, my bro in law makes like 150k/yr and he pays 40% total taxes
     
    OSUBlazerfan, Oct 2, 2010
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  14. toutlaw25

    toutlaw25 Member

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    Not sure how that's possible unless your including state taxes with that figure or something. It doesn't add up. Edit....a little late.
     
    toutlaw25, Oct 2, 2010
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  15. julius

    julius I wonder if there's beer on the sun Staff Member Global Moderator

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    That's not possible. The highest rate he'd pay Uncle Sam, is 28%. And Oregon's top ITR is 9.

    I'm not sure how taxes are taken out (as in, the order). Is it state rate first THEN US, or together at the same time.

    Not that the 3% difference is "ha! you're wrong, luzah!".

    BUT...if your BIL does make 150K per year, do you know how much his taxes increase if the tax cuts end?

    1%. I'm not saying 1% is nothing.

    *edit*

    i read the rates wrong. The rates would go from 28% right now, to 33%.
     
    Last edited: Oct 2, 2010
    julius, Oct 2, 2010
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  16. julius

    julius I wonder if there's beer on the sun Staff Member Global Moderator

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    wait, if he makes under 250, his rates should (in theory) remain the same. So..um..strike 2 for me.
     
    julius, Oct 2, 2010
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  17. toutlaw25

    toutlaw25 Member

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    If you make say 260k and anything over 250k puts you in a 40% tax bracket, you are not taxed at 40% for your entire taxable income. The only income that is taxable at the 40% rate is anything you make above 250. Everything else is taxed at the lower tax brackets.
     
    toutlaw25, Oct 2, 2010
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  18. Paxil

    Paxil Active Member

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    Do you get a refund? Withholding rates are different that what you may be responsible for when you do your taxes.
     
    Paxil, Oct 3, 2010
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  19. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Taxes. They're everywhere.

    FICA, state witholding for unemployment and medical, property taxes, taxes on your cell phone bill, sales tax, state income tax. For top bracket people the overall tax is over 50%.
     
    Denny Crane, Oct 3, 2010
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  20. julius

    julius I wonder if there's beer on the sun Staff Member Global Moderator

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    Wouldn't the % of taxes taken out of the rich still be over (or right at) 50% regardless of what happens to the tax cuts?

    And excuse me if I don't feel bad for the top 2% of our country.
     
    julius, Oct 3, 2010
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