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-> Household Management
-> Finances
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amother
OP
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 Tue, Aug 20 2024, 7:08 pm
I hate giving the government money that I worked for. And I hate how if you make a teeny bit over the threshold for benefits you get kicked off. Making an extra $100 a year does NOT = suddenly having an extra $30k for health care costs!!!!
I hate the US sometimes.
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BasKol
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Sun, Sep 15 2024, 12:03 pm
| amother OP wrote: | I hate giving the government money that I worked for. And I hate how if you make a teeny bit over the threshold for benefits you get kicked off. Making an extra $100 a year does NOT = suddenly having an extra $30k for health care costs!!!!
I hate the US sometimes. |
Which country's tax system do you prefer?
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Genius
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Sun, Sep 15 2024, 12:17 pm
Welcome to the club! Middle class stinks.
I remember doing the math you just did and wanting to write a letter to Trump because דאגה בלב איש…
The only solution is to become rich.
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amother
Latte
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Sun, Sep 15 2024, 12:21 pm
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I earn just enough to not make it worth it to earn less and be on programs. What sucks is everyone telling me how much of a fool I am to not play this shtick or another. I feel like I lose out for honesty
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amother
Chambray
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Sun, Sep 15 2024, 12:34 pm
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I remember at a certain point I realized that we were not more than $500 a month ahead a month then if we would make minimum income and hardly work. We had a bunch of small kids and a disabled kid and dh worked many hours in 2 jobs. it just doesn’t make sense
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amother
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Sun, Sep 15 2024, 12:38 pm
You do realize the fallacy of your statement since Medicaid only exists because other taxpayers support policies that support the less fortunate.
Not to mention roads, police, fire personnel and other benefits of government.
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amother
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Sun, Sep 15 2024, 12:41 pm
| amother Lavender wrote: | You do realize the fallacy of your statement since Medicaid only exists because other taxpayers support policies that support the less fortunate.
Not to mention roads, police, fire personnel and other benefits of government. |
Not everyone appreciates that their hard earned money goes towards people who don’t earn enough, though. I can understand the resentment
And while there are genuine good things our taxes contribute to, a lot is wasted on things many people don’t agree with
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amother
Orange
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Sun, Sep 15 2024, 12:55 pm
I have paid into the system my whole working life. No programs since my first adult job. Now DH lost his job and while I work full time, we qualify for WIC and kids get Medicaid. In my state Medicaid is awful in terms of finding doctors but we BH lucked out.
Now my husband is BH having interviews but we run the risk of losing Medicaid but not having the funds to pay for insurance because not every place offers insurance for the whole family. My job only offers for me and it's a garbage plan.
We are in such a tight spot. We have the ability to not need any program but during the in between time we are stuck. It is hard to make the leap because as soon as we do we will be in the same or worse predicament!!
And I still pay way too much in taxes!!
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amother
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Sun, Sep 15 2024, 12:58 pm
| amother Tealblue wrote: | Not everyone appreciates that their hard earned money goes towards people who don’t earn enough, though. I can understand the resentment
And while there are genuine good things our taxes contribute to, a lot is wasted on things many people don’t agree with |
Given the large percentage of imamothers who benefit from various programs funded by Federal and state taxes, it seems a bit hypocritical to rail at the government which is providing those benefits.
Many people disagree with any kind of government benefits and consider it to be waste - one person's waste is another person's necessity.
I am not saying that there aren't government programs which are pork barrel but that is another issue.
I am more angry at hedge fund managers whose incomes are taxed at lower rates because of the way in which their compensation is structured and tax policies that disproportionately provide lower tax rates to the wealthiest.
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amother
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Sun, Sep 15 2024, 1:03 pm
| amother Orange wrote: | I have paid into the system my whole working life. No programs since my first adult job. Now DH lost his job and while I work full time, we qualify for WIC and kids get Medicaid. In my state Medicaid is awful in terms of finding doctors but we BH lucked out.
Now my husband is BH having interviews but we run the risk of losing Medicaid but not having the funds to pay for insurance because not every place offers insurance for the whole family. My job only offers for me and it's a garbage plan.
We are in such a tight spot. We have the ability to not need any program but during the in between time we are stuck. It is hard to make the leap because as soon as we do we will be in the same or worse predicament!!
And I still pay way too much in taxes!! |
Isn't CHIP available for children with fairly high income caps?
Many middle class people are able to get the benefit of low cost medical care for children through CHIPS.
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Genius
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Sun, Sep 15 2024, 1:06 pm
| amother Lavender wrote: | Given the large percentage of imamothers who benefit from various programs funded by Federal and state taxes, it seems a bit hypocritical to rail at the government which is providing those benefits.
Many people disagree with any kind of government benefits and consider it to be waste - one person's waste is another person's necessity.
I am not saying that there aren't government programs which are pork barrel but that is another issue.
I am more angry at hedge fund managers whose incomes are taxed at lower rates because of the way in which their compensation is structured and tax policies that disproportionately provide lower tax rates to the wealthiest. |
When discussing a trillions of dollars federal budget we can both appreciate that some people are helped by the federal programs and complain about the high taxes being charged from the middle class.
In all honesty, I’d gladly give my taxes straight to my lovely neighbors, rather than have idiots give it to Afghanistan and Palestine.
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vintagebknyc
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Sun, Sep 15 2024, 1:09 pm
| amother Lavender wrote: | Given the large percentage of imamothers who benefit from various programs funded by Federal and state taxes, it seems a bit hypocritical to rail at the government which is providing those benefits.
Many people disagree with any kind of government benefits and consider it to be waste - one person's waste is another person's necessity.
I am not saying that there aren't government programs which are pork barrel but that is another issue.
I am more angry at hedge fund managers whose incomes are taxed at lower rates because of the way in which their compensation is structured and tax policies that disproportionately provide lower tax rates to the wealthiest. |
Hedge Fund Managers aren't the ones the blame, it's the people who lower the tax rates for them and other high-wage earners
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BasKol
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Sun, Sep 15 2024, 3:36 pm
| amother Lavender wrote: | Well obviously they are not the ones voting per se although they do tend to give a lot of money to government officials who provide better tax structure for them.
It is not a coincidence 
I mention hedge fund managers specifically since a major percentage of their earnings are taxed as capital gains because of how they are denominated. Therefore instead of paying at a higher marginal income tax rate, they pay at the far lower capital gains rate.
Not to mention the disproportionate income that payroll taxes have on the lowest earning workers since these are not due after a relatively low amount of salary. |
And 40% of Americans pay no income tax at all.
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amother
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Sun, Sep 15 2024, 5:07 pm
| BasKol wrote: | | And 40% of Americans pay no income tax at all. |
That is a misleading statistic.
Low wage workers actually pay a higher percentage of their income in taxes than higher salaries workers.
Every worker pays 7.65% in FICA payroll taxes and twice that if they are self employed.
They also pay a disproportionately high percentage of income for sales taxes because their income is more likely to be used to purchase goods that are taxed.
They pay property tax and even if they rent their landlord is factoring in property tax to determine rent.
Do you want to tax households making relatively low amounts more in terms of income tax?
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BasKol
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Sun, Sep 15 2024, 5:31 pm
| amother Lavender wrote: | That is a misleading statistic.
Low wage workers actually pay a higher percentage of their income in taxes than higher salaries workers.
Every worker pays 7.65% in FICA payroll taxes and twice that if they are self employed.
They also pay a disproportionately high percentage of income for sales taxes because their income is more likely to be used to purchase goods that are taxed.
They pay property tax and even if they rent their landlord is factoring in property tax to determine rent.
Do you want to tax households making relatively low amounts more in terms of income tax? |
It's a fact. I wasn't talking about property or sales tax. Just income taxes. 40% do not pay. Zilch.
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amother
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Sun, Sep 15 2024, 5:38 pm
| BasKol wrote: | | It's a fact. I wasn't talking about property or sales tax. Just income taxes. 40% do not pay. Zilch. |
What is your Point?
People who make low incomes pay less income tax?
It is just sad that such a significant number of households essentially make so little income that they owe no income taxes.
My point still stands that the amount they pay in taxes is a higher percentage of their income than those with higher salaries and contributes to government costs.
I would imagine they would be pleased to be earning enough so they were paying taxes because you are still netting more money because very few people pay the marginal rate anyway.
I never minded paying taxes because it meant that my income was higher. 🤷♀️ Grateful I am not making so little that I pay no taxes. 🤫
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amother
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Sun, Sep 15 2024, 5:40 pm
| amother Lavender wrote: | That is a misleading statistic.
Low wage workers actually pay a higher percentage of their income in taxes than higher salaries workers.
Every worker pays 7.65% in FICA payroll taxes and twice that if they are self employed.
They also pay a disproportionately high percentage of income for sales taxes because their income is more likely to be used to purchase goods that are taxed.
They pay property tax and even if they rent their landlord is factoring in property tax to determine rent.
Do you want to tax households making relatively low amounts more in terms of income tax? |
No they don't. Any low income taxpayer with children get EIC, which often refunds not only federal and FICA taxes, but they get extra money back as well. They sometimes pay state or local taxes, tho - ironically blue states are the worst at this.
Also sales tax in many states is often structured so that low income people don't end up paying. Their income mostly goes to food and essentials, which are often not taxed. States try to fix the tax on "luxury items".
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amother
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Sun, Sep 15 2024, 5:42 pm
| amother Lavender wrote: | What is your Point?
People who make low incomes pay less income tax?
It is just sad that such a significant number of households essentially make so little income that they owe no income taxes.
My point still stands that the amount they pay in taxes is a higher percentage of their income than those with higher salaries and contributes to government costs.
I would imagine they would be pleased to be earning enough so they were paying taxes because you are still netting more money because very few people pay the marginal rate anyway.
I never minded paying taxes because it meant that my income was higher. 🤷♀️ Grateful I am not making so little that I pay no taxes. 🤫 |
Not only do they pay no income tax, they even get extra back. Child tax credits, earned income credits, etc. Plus they are often eligible for all kinds of other programs... it's true that single low income earners are the real losers our economy, but nobody actually talks about them...
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