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Jase

Post your effective Tax Rate, if you dare.

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Jase    12,321

Since it is tax season, I thought it'd be appropriate for everyone to be aware of how much we actually pay in federal income taxes. As huddle tinderbox posters, there is an expectation that you all be vetted. Remember that Mitt pays only 14%.

Sounds fun, right?

Post:

1) your filing status: single, married filing jointly or separately, Head of household, or widowed;

2) number of dependents you have;

3) divide your total tax (line 61 from form 1040) by your total income (line 22).

Unapologetically, here's mine:

1) MFJ

2) 2 dependents

3) 5.14%

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Happy Panther    3,961

Mines complex because I have a salary and my company pays me dividends so i have 2 tax returns. And in 2011 I had a large IRA cash out (no penalties because of the structure).

But my personal return says 20.07% in 2011. 2012 will not be done for a while.

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logic1977    232

1)MFJ

2)1

3) 8.9%

Had never looked at it before so was not sure what to expect. We used to have a business that would normally have reduced that greatly. I miss those days

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Davidson Deac II    4,204

Haven't completed my 2012 return yet, because I probably owe a few hundred and I like to make the government wait for it. :)

But I imagine it will be similar to my 2011 return.

Married filing jointly

One child

11.8% effective tax rate.

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twylyght    1,511

1) S

2) 0

3) 16.9%

And Mitt pays 14% after it has already been taxed. Just like we pay additional taxes after we die, when we buy product off the shelf, as a service, etc. If people knew what we actually paid in taxes, there would be outright riots in the streets. It is one of the main reasons I am for the Fair Tax.

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no one pays taxes after they die. maybe the parasitic children of rich people are responsible for the taxes on their multimillion dollar inheritances, but that's not what you said. now, stop posting fox news memes.

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mmmbeans    443

1) S

2) 0

3) 16.9%

And Mitt pays 14% after it has already been taxed. Just like we pay additional taxes after we die, when we buy product off the shelf, as a service, etc. If people knew what we actually paid in taxes, there would be outright riots in the streets. It is one of the main reasons I am for the Fair Tax.

Dividends havent already been taxed... It isnt a loan.

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twylyght    1,511

no one pays taxes after they die. maybe the parasitic children of rich people are responsible for the taxes on their multimillion dollar inheritances, but that's not what you said. now, stop posting fox news memes.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Estate-Tax

Yet another reason no one pays attention to what you have to say. I noticed you didn't have the balls to post your info. Good job there

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twylyght    1,511

Dividends havent already been taxed... It isnt a loan.

You put $1000 in for an investment in a company. Company makes money. Pays payroll tax, corporate tax, property tax, health care tax... all of that eats into profit. Whatever is left over is THEN left as a dividend. It is then AGAIN taxed.

Jesus... sucked in again... the stupid on this forum is mind-boggling.

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mmmbeans    443

You put $1000 in for an investment in a company. Company makes money. Pays payroll tax, corporate tax, property tax, health care tax... all of that eats into profit. Whatever is left over is THEN left as a dividend. It is then AGAIN taxed.

Jesus... sucked in again... the stupid on this forum is mind-boggling.

I know how it works. Your dividends havent been taxed. Sorry, threadjack over.

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twylyght    1,511

way to miss the point (as usual). you and your ilk go back to working the semantics however you like. doesn't change the reality of what goes in vs what comes out and what the government's actual take ends up being.

i'll leave you to preaching to the rest of the mental midgets on this board trying to explain such a simple concept away

PS - speaking of threadjacking, I noticed you didn't care to post your stats either. Expected. Typical. Cowardly.

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