28k in taxes

[Bassbob]

So far this year. Meanwhile even though I’m maxed out on the old 401k my contribution to my retirement ( not including company match and investment income generated) is half that.

And they wonder why people are P’ed off.

 

[Jfal]

Now add that to your property taxes, sales taxes paid YTD (on everything...not just retail buys), licensing fees, permit fees, and city/county fees, hidden gas taxes/gallon purchased. Saw a meme recently that talked about pharaohs collecting 20% of their slaves' incomes...that seems like a deal compared to what we got now (yes, I know it was an internet meme....). This doesn't even approach the higher prices we pay for EVERYTHING to pay for taxes that the suppliers of our goods have to pay. How do you think our govt reps go to congress as thousand aires and all leave millionaires?

 

[Belt Fed]

And they wonder why people are P’ed off.

Yeah i won't even talk about the losses on my stuff since the current idiot was installed.

 

[Skunkhouse]

Best off not trying to figure it out. We are getting raped daily by this bunch in the white house and local government. I've lost so much on my retirement investments, I don't even open up the statement for days.

 

[belladonna]

And they keep threatening to shut down government when they can’t agree on how to misspend/overspend our tax dollars.

 

[az4783054]

The Liar in Chief says everything is great under his regime...

 

[somorris]

Taxes are too high, but even still that’s not enough for the federal government.

 

[Belt Fed]

I did type a response about losing money now and thought ehh, maybe this is too political and deleted it.

 

[Bassbob]

I did type a response about losing money now and thought ehh, maybe this is too political and deleted it.

One good thing. My wife is pretty slick and she’s in charge of my “ portfolio”. While my company stock and some others are in the crapper, we’re busy gobbling it up.

 

[BobT]

One of the smartest things I did was roll my 401-K into a Roth account and took the tax hit when that became an option. Now my portfolio increases in value tax free and I have no mandatory withdrawal requirements.

 

[Bassbob]

One of the smartest things I did was roll my 401-K into a Roth account and took the tax hit when that became an option. Now my portfolio increases in value tax free and I have no mandatory withdrawal requirements.

Roth is good when you’re young and starting out. Like maybe half in a Roth and the other half deferred. I’m about 100% certain my tax bracket will be a hell of a lot lower when I’m m not working than it is right now though.

 

[HansGruber]

Dude…I just ended the pay period with 120 hours, 148 hours pay.

My next one will have 140 hours pay for 96 hours worked (two 2.5x holidays on that one)…

Do NOT talk to me about taxes.

 

[XD94045]

Unless you’re Uber rich, the tax man is gonna have his way with you regardless of which party occupies the White House. Not being able to write off home interest payments was the death knell for most of us in the middle class.

 

[Bassbob]

Unless you’re Uber rich, the tax man is gonna have his way with you regardless of which party occupies the White House. Not being able to write off home interest payments was the death knell for most of us in the middle class.

Nah. If you added up all your deductions, including your mortgage interest, and it’s still less than the standard deduction you got a tax break. If not, then you probably aren’t middle class.

 

[Bassbob]

Dude…I just ended the pay period with 120 hours, 148 hours pay.

My next one will have 140 hours pay for 96 hours worked (two 2.5x holidays on that one)…

Do NOT talk to me about taxes.

I hear ya. I generally do about 100-105 hrs every two weeks.

 

[HansGruber]

I hear ya. I generally do about 100-105 hrs every two weeks.

My usual schedule is 84 in 2 weeks, with 8 hours overtime (one 36 hour week, one 48).

 

[Bassbob]

My usual schedule is 84 in 2 weeks, with 8 hours overtime (one 36 hour week, one 48).

I slowed down the last few months. I had a lot of vacation left. So I took every Friday for the last 3 months off. Was still doing 10 hrs 4 days a week though. So what’s that, about 96 hrs.

 

[XD94045]

Nah. If you added up all your deductions, including your mortgage interest, and it’s still less than the standard deduction you got a tax break. If not, then you probably aren’t middle class.

Good point. Looking at what they state is middle class, you’re right.

 

[HansGruber]

I slowed down the last few months. I had a lot of vacation left. So I took every Friday for the last 3 months off. Was still doing 10 hrs 4 days a week though. So what’s that, about 96 hrs.

I’m carrying 180 & change into next year…

I’m lucky, our contract gives us really, REALLY good short time disability leave that worked in my favor when I did my hip this summer.

 

[powerboatr]

So far this year. Meanwhile even though I’m maxed out on the old 401k my contribution to my retirement ( not including company match and investment income generated) is half that.

And they wonder why people are P’ed off.

yup i understand ...excessive taxes SUCK
but as a positive
you made GOOD money this year, and have the ability get more fun stuff

pisssesss me off that i can't keep dumping money in my IRA's because, even though the government taxes my navy retainer, its not considered taxable income for investment purposes. WHAT<???? you taxed it, so how is it not taxable income???

6 years ago we finally recouped all the losses from 9/11, plus put us back on track for the magic number in just a few short years now we will be forced to start drawing. despite obama trying to screw us, my investment managers did good.

we doubled down during covid and used stimulus to invest more in other things to make up for the inability to dump into the ira's

i am lucky in my state that my property tax is waived up to 26 acres, so now we are really watching depressed property that got bought for crazy prices and snap one up at realistic prices, around here the sales values are falling a bit