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Is the US serious with this tax stuff for Olympians?

  • RATT said...

    To say that most of the people you know make more money come February than they pay the previous year is ludicrous though.

    I am not sure what You find ludicrous about that statement. In 2010, after paying in a grand total of $5,150 dollars in state, fed, medicare and SS taxes, I got a return check about $5700. Its good to have a mortgage and kids come tax time.

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    OhioHawk07

  • OhioHawk07 said...

    I am not sure what You find ludicrous about that statement. In 2010, after paying in a grand total of $5,150 dollars in state, fed, medicare and SS taxes, I got a return check about $5700. Its good to have a mortgage and kids come tax time.

    If you paid that little in total taxes then you don't make jack dick and am surprised that you can pay for your mortgage and kids. I'm sorry to be an a$$hole about that but 5 grand in total taxes in a year in outrageously low.

    This post has been edited 2 times, most recently by RATT on 8/2/2012 at 9:39 AM

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    RATT

  • OhioHawk07 said...

    No...those were just examples...there a lot of ways to get deductions.

    The point being, I only people I know get a nice fat return check. Sorry, I must not walk in the same circles as you do. Of the 50+ households I know, they don't need Cayman Island tax shelters. They get most of it, if not all, back of what they pay in. And I don't know Mark Zuckerberg personally, so I have no clue about his finances, and nor do I care.

    Then they make the appropriate income and have the appropriate deductions.

    Someone making average income and qualifying for deductions and receiving a rebate doesn't excuse what Romney and other wealthy do to not pay taxes.

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    "A political call, the fall guy accord...We can't afford to be neutral on a moving train..."

    BamaLivesFootba ●

  • OhioHawk07 said...

    Dumbest statement I think I've ever read.

    Just about everyone I know, pays into the tax system, BUT they usually get a check back from the government for most or MORE than they paid into, thanks to having a mortgage, driving a "green" car, making "green" improvements to their house and having kids. The government is in effect PAYING them to be a citizen of this country. Who pays for that if the wealthy are "paying less"?

    Now who has the loopholes?

    If that is the dumbest thing you have read, then you obviously didn't read your own post.

    Wealthy do pay LESS in taxes (compared to what they WOULD BE PAYING w/o loopholes). If you think I meant someone who earns $20M/ year pays less taxes than me, then please go feed your pet unicorn and keep your gnomes out of my yard.

    Earned Income Credit is one way people can get a rebate for more $$ than they put in. I am sure there are some who get back rebates that are greater than what they paid. It is U.S., so I expect someone to want to screw the system.

    Most should not get a "rebate" at all, either way. "Rebate" = interest free loan to USG, unless you had some unforeseen circumstances (medical bills, etc).

    WRobins

  • OhioHawk07 said...

    I am not sure what You find ludicrous about that statement. In 2010, after paying in a grand total of $5,150 dollars in state, fed, medicare and SS taxes, I got a return check about $5700. Its good to have a mortgage and kids come tax time.

    Well, that explains it. If you're paying a grand total of only $5000 in taxes and most of the people you know end up in the black after taxes, a) you're not making jack, and b) you probably aren't hanging around with anyone who makes more than jack.

    FFS, I'm a 23 year old law student and I paid more than $5000 in taxes just for the couple months I worked full-time at my firm this summer.

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    CMXI

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