Scrappy Jack

iTrader: (2)

Can you expound on this? Which "year's end?"

rleete

iTrader: (21)

Tax time.

kotomile

iTrader: (24)

That's why I re-upped in Afghanistan, 100% tax free bonus. Maxxed (sp?) SDP too, but I'll have to pay tax on the interest from that. Still, not bad.

I got raped on my original enlistment bonus WRT taxes though. 25% IIRC.

Scrappy Jack

iTrader: (2)

I think I understand what you mean, but I don't think that's really accurate. You only get some of the taxes that were withheld back if they withheld more in total for the year than you end up owing.

For instance, if - in total - you paid in ~30% of your income in taxes but ended up with an effective tax rate of ~23%, you will get some of it back.

If, on the other hand, they withheld ~30% and you have a ~33% effective rate, you will owe.

rleete

iTrader: (21)

Well, duh. But I did state that they are taxed at a higher than normal rate. In other words, my usual tax cut is about 25%, I think. Bonuses are taxed at a higher rate (over 35%), and they take out more from them. So, at year end, I've paid more in than the nominal rate, and so get a refund.

I have my deductions set fairly high, so I am usually pretty close, and would not be getting much of a refund, but the bonuses, being taxed higher, skew that. Result is that I get a larger refund.

JennB

I was going to post that but didn't want to come in out of nowhere all accountant like. lol

Yes, most bonuses are taxed higher when you get them, but not in the entire tax year as whole. We have a graduated tax system in the US so getting a large bonus pushes that payment into a higher tax bracket or some employers/payroll tax systems will use a flat 28% rate on bonuses which is higher than most people's effective tax rate for the entire year.

At year end, what matters is your total income for the year, not the sources or timing of that income.

falcon

iTrader: (13)

lol @ more whining about taxes. you have it so good tax wise in the USA you don't even know it.

Braineack

iTrader: (62)

everyone wants moar better. we all cant just move to galt's gully.

falcon

iTrader: (13)

wat

Braineack

iTrader: (62)

if you have to ask, you'll never know.

FRT_Fun

iTrader: (19)

I honestly wouldn't mind paying taxes... if so much of it wasn't wasted. That is where I have an issue.

crimson_yachiru

It is a reference to Atlas Shrugged, by Ayn Rand. Galt's Gulch is a hidden valley in Colorado where the "heroes" form their own rather libertarian community to wait for the collapse of the rest of the world.

Braineack

iTrader: (62)

I thought looting was utopia?

rleete

iTrader: (21)

Not only wasted, but spent to keep the deadbeats living large. We've all seen the EBT cards used to buy steaks and other luxury foods, the scumbags on welfare with the latest cell phones, 20" wheels, flat screen TVs, etc.

It's time to overhaul the whole handout system INCLUDING social security, medicade and all the rest. And we also need to completely cut off shithole countries like Packistan and all the rest that get aid. Screw the rest of the world until we get the American budget under control.

There are those that would argue that things like foreign aid are a drop in the bucket. Well, so what? We have to start cutting, and that's the first place to start. 700 million would make every regular poster on this board filthy rich. Why not give it to us instead of some crappy country that hates us anyway?

y8s

iTrader: (8)

without foreign aid, some of those countries you despise might become pure terrorist states with even more volatile governments and absolutely no reason to not hate the US outright.

it's definitely a drop in the bucket when you consider the benefits aren't just bleeding heart guilt relief.

also only scumbags are on welfare and social security.

blaen99

iTrader: (6)

How dare you be the voice of reason on this, y8s! HOW DARE YOU!!!!

chpmnsws6

iTrader: (12)

Is that like paying a toll every time you walk into the gym shower so you don't get raped by a 5 year old?

Braineack

iTrader: (62)

Lets see in 2009 we gave 483 million to Egypt...who's in charge now? we've given them about 2 billion a year since 1980. Glad it's finally paying off...

Iraq, Afganistan, and Pakistan has received about 6.5 trillion from us in 2009...no terrorists there.

how much of the 489 million we gave Nigeria help their poor? IIRC they are still a starving tribal system run by 12 year boys with ak47s.

same goes to the 917 million giving to kenya.

or what about the 465 million we gave to mexico?

Does Israel really need our billions every year.



some of these nations got more than our stimulus, but that was a HUGE deal. yet we give 60 billion away a year in ecomonic aid.

sixshooter

iTrader: (12)

If we completely cut out the foreign aid and put 1/4 of the total saved into effectively controlling our border security we would be closer to doing what the Constitution actually dictates. That, and eviscerating the failed social engineering experiments of welfare, social security, farm subsidies, endowments of the arts, minimum wage, etc.

Braineack

iTrader: (62)

you're cruel. think of all the strawmen.