$249,999.00 Is the Goal

somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???
 
FYI,, I heard on Cavuto today that many of the states are contemplating following the Feds by increasing taxes on the rich which may well put their taxes at 50% or more..



I think they should stop working just under 250 grand.. yep!!!

Yes, that is true. New York is now over 50%. No more freedom in that State. What's interesting is that many of the businesses in New York are in office buildings so they can pack up and leave without too much trouble. Expect wealth to be pouring out of States like New York and even the country when Obama and the Democrat-controlled Congress has their way.
 
Just saw this bumper sticker:

"HONK if you're paying my mortgage!"

well since we own our home out right i guess that would be a loud HONKkkkkkkkkk.....

But we might as well HONK TWICE if you are paying banks to give multi million dollar bonuses

HONK THREE TIMES if you are paying AIG to exist....

and so on and so forth....

:eek:

I wouldn't have bought AIG two years ago, but now I've part stakes in over 80%, against my will.

Check this out. This is a serious video with real politicians and bank executives.

[YOUTUBE]S4hrnbhIHDY[/YOUTUBE]
 
I don't believe that individuals who have taxable income exceeding $250k would necessarily have a disincentive to work, for reasons stated by Care, as well as the existence of other incentives intrinsic to these circumstances, such as finding ways to shelter that extra income by either employing more people or increasing existing employee salaries and benefits, or upgrading business equipment, etc.

The difference after the taxes between 249k and 350k, wouldn't be enough incentive to give up family time or whatever suits one's fancy. The disincentives come from the idea that the more one earns beyond a certain point, in this case $250k, the more the state will burden one with. Thus, stop. Just stop.
$700 dollars more out of every $10,000 more in taxable income Annie? $700 bucks....more, than if this tax break is not extended....out of every 10k in extra taxable income....

I'm sorry but there is no way that this would be the straw that broke the camel's back....

Maybe this woman just doesn't want to spend her own time trying to make more than $250k and she is comfortable in what she earns now with the time now spent on it, this is possible...

but the $700 dollars more in income tax for every extra $10k earned is NOT the reason to stick to the $249,999....unless she is loony imo....and honestly, she probably should not have her own business to run, IF she has one and if she really believes such....from my own business experience, she doesn't seem cut out for it....it takes a nothing ventured nothing gained attitude... not a complacent, give up, attitude= to succeed in business imo.

Granted i do not know all the circumstances with this woman, but i do know that $700 bucks extra in taxes for every 10k extra earned would not be a sound or logical reason to stop working when you hit the $250k mark.

care

Care, are you trying to justify a tax increase? If so, why?
 
somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???

Our tax rates are on income brackets....if our gvt is saying that taxes will go up for those couples making above $250k, then one has to assume that the taxes paid on the money earned over $250k is where the tax bracket begins to tax at a higher rate...below this income, it would be taxed at the lower rates existing now.

A couple making $300k of taxable income combined, would keep what tax rates they are paying now for the various income tax brackets below the $250k....and anything earned above the 250k in taxable income would be taxed at a 35% rate, verses a 28% rate for that right now....

so, the 50k in taxable income, this couple earns over the $250k will be taxed at 35% instead of 28% is my understanding and this difference amounts to paying only $3500 more in taxes for the $50k in extra earnings/ income, than they would if the tax breaks were not allowed to expire.

we are not talking about the taxes people pay on all of their income, nor property taxes on their homes, nor sales taxes on the goods they buy....

THIS is an income tax increase, all those other taxes stay the same as they are now....and do not increase in their rates unless a state decides to do such etc....

we are talking about a 7% tax rate increase, and only for any taxable money made above this amount of 250k percouple.

TAXABLE INCOME is your net income after you have taken all of your tax deductions and standard deductions...

and if you are a small business it is the money you have left after you paid all of your fixed expenses and cost of goods and payroll expenses, FICA taxes on payroll... etc etc etc, along with any money you may use reinvesting in your business....AFTER all of that is paid, the net money you have left, is Taxable income.

For example, a couple making $300k in taxable income, probably grossed around $350k, but took deductions to get them down to the $300 in taxable income....

A small business having $300k in taxable income, is probably a business that generates $1.5 million in sales, but with all of the business deductions that can be taken, it nets them only the $300k income that is taxable.

care
 
somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???

Our tax rates are on income brackets....if our gvt is saying that taxes will go up for those couples making above $250k, then one has to assume that the taxes paid on the money earned over $250k is where the tax bracket begins to tax at a higher rate...below this income, it would be taxed at the lower rates existing now.

A couple making $300k of taxable income combined, would keep what tax rates they are paying now for the various income tax brackets below the $250k....and anything earned above the 250k in taxable income would be taxed at a 35% rate, verses a 28% rate for that right now....

so, the 50k in taxable income, this couple earns over the $250k will be taxed at 35% instead of 28% is my understanding and this difference amounts to paying only $3500 more in taxes for the $50k in extra earnings/ income, than they would if the tax breaks were not allowed to expire.

we are not talking about the taxes people pay on all of their income, nor property taxes on their homes, nor sales taxes on the goods they buy....

THIS is an income tax increase, all those other taxes stay the same as they are now....and do not increase in their rates unless a state decides to do such etc....

we are talking about a 7% tax rate increase, and only for any taxable money made above this amount of 250k percouple.

TAXABLE INCOME is your net income after you have taken all of your tax deductions and standard deductions...

and if you are a small business it is the money you have left after you paid all of your fixed expenses and cost of goods and payroll expenses, FICA taxes on payroll... etc etc etc, along with any money you may use reinvesting in your business....AFTER all of that is paid, the net money you have left, is Taxable income.

For example, a couple making $300k in taxable income, probably grossed around $350k, but took deductions to get them down to the $300 in taxable income....

A small business having $300k in taxable income, is probably a business that generates $1.5 million in sales, but with all of the business deductions that can be taken, it nets them only the $300k income that is taxable.

care



do you have a link to these tax tables.. That dosen't make sense to me.. I would like to read it from the US of KKKA tax tables.. please
 
somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???

Our tax rates are on income brackets....if our gvt is saying that taxes will go up for those couples making above $250k, then one has to assume that the taxes paid on the money earned over $250k is where the tax bracket begins to tax at a higher rate...below this income, it would be taxed at the lower rates existing now.

A couple making $300k of taxable income combined, would keep what tax rates they are paying now for the various income tax brackets below the $250k....and anything earned above the 250k in taxable income would be taxed at a 35% rate, verses a 28% rate for that right now....

so, the 50k in taxable income, this couple earns over the $250k will be taxed at 35% instead of 28% is my understanding and this difference amounts to paying only $3500 more in taxes for the $50k in extra earnings/ income, than they would if the tax breaks were not allowed to expire.

we are not talking about the taxes people pay on all of their income, nor property taxes on their homes, nor sales taxes on the goods they buy....

THIS is an income tax increase, all those other taxes stay the same as they are now....and do not increase in their rates unless a state decides to do such etc....

we are talking about a 7% tax rate increase, and only for any taxable money made above this amount of 250k percouple.

TAXABLE INCOME is your net income after you have taken all of your tax deductions and standard deductions...

and if you are a small business it is the money you have left after you paid all of your fixed expenses and cost of goods and payroll expenses, FICA taxes on payroll... etc etc etc, along with any money you may use reinvesting in your business....AFTER all of that is paid, the net money you have left, is Taxable income.

For example, a couple making $300k in taxable income, probably grossed around $350k, but took deductions to get them down to the $300 in taxable income....

A small business having $300k in taxable income, is probably a business that generates $1.5 million in sales, but with all of the business deductions that can be taken, it nets them only the $300k income that is taxable.

care



you should be,, cause when you add them all together it leaves them less rich than you DUmbcrats believe them to be dosen't it?? and by the time you let those who earn 60 grand skate with no income tax we have just about equaled them hey! hence no incentive to strain to do better now is there???
 
there would be no benefit to pair their business down....the op is utterly ridiculous and i have to wonder if these people mouthing this crap even do their own taxes or understand how the tax structures works?

Sounds to me like they are cluless, absolutely clueless...

let's say your taxable income is $280k instead of the 249.9k, the only extra taxes they would pay in income taxes is the difference between 35% in taxes and 28% in taxes ON THE 30K over the 250k only.

so in this case, for making $30,000 MORE, they will have to pay about $2100 more in taxes than they did under their previous tax structure.

So, for $30k more in taxable income they will pay $10,500 in taxes verses $8400 that they would be paying if the tax break of their bracket did not expire in 2011.

Bringing home almost $20k out of that $30k with the new tax structure....

are you saying that this woman in the article would really keep her own income down to avoid paying a 7% increase on her taxable income over and above the $250k....and she would turn down the $20k extra she could add NET to her yearly earnings?

Bulloneyyyyyyyyyyyyyy.

Care

Well said... I would have to say though, that I doubt she is even an attorney. If she were an attorney she would surely know exactly what you were saying here and with half a brain, she would have figured out that she was costing herself money in the long run, unless, of course, she's got some loopholes she can jump through that will bring her earnings down below $250k and keep her whistling Dixie all along.

did you add on all the other taxes? like state,, sales,,capital gains,, ??????

I don't blame them one bit.. who does want to work their ass off so some libral can take it and hand it over to some one who dosen't have the will to try to excel?

All the other taxes still wouldn't add up to costing her money. Not yet anyway. Give the politicians a little more time, if they can come up with a way to achieve that goal, they will give it a try.

Immie
 
there would be no benefit to pair their business down....the op is utterly ridiculous and i have to wonder if these people mouthing this crap even do their own taxes or understand how the tax structures works?

Sounds to me like they are cluless, absolutely clueless...

let's say your taxable income is $280k instead of the 249.9k, the only extra taxes they would pay in income taxes is the difference between 35% in taxes and 28% in taxes ON THE 30K over the 250k only.

so in this case, for making $30,000 MORE, they will have to pay about $2100 more in taxes than they did under their previous tax structure.

So, for $30k more in taxable income they will pay $10,500 in taxes verses $8400 that they would be paying if the tax break of their bracket did not expire in 2011.

Bringing home almost $20k out of that $30k with the new tax structure....

are you saying that this woman in the article would really keep her own income down to avoid paying a 7% increase on her taxable income over and above the $250k....and she would turn down the $20k extra she could add NET to her yearly earnings?

Bulloneyyyyyyyyyyyyyy.

Care

Well said... I would have to say though, that I doubt she is even an attorney. If she were an attorney she would surely know exactly what you were saying here and with half a brain, she would have figured out that she was costing herself money in the long run, unless, of course, she's got some loopholes she can jump through that will bring her earnings down below $250k and keep her whistling Dixie all along.

did you add on all the other taxes? like state,, sales,,capital gains,, ??????

I don't blame them one bit.. who does want to work their ass off so some libral can take it and hand it over to some one who dosen't have the will to try to excel?

All the other taxes still wouldn't add up to costing her money. Not yet anyway. Give the politicians a little more time, if they can come up with a way to achieve that goal, they will give it a try.

Immie




well until somebody shows me the tax table to back this libral propagand up I'd say the lawyer lady knows a lot more about what the hell she is doing than you guys give her credit for..
 
somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???

You're on the mark if you exclude the biggest deduction of all: home mortgages. It's actually worse than that. Depending on the State they live in, they will probably pay more than 39%.
 

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The difference after the taxes between 249k and 350k, wouldn't be enough incentive to give up family time or whatever suits one's fancy. The disincentives come from the idea that the more one earns beyond a certain point, in this case $250k, the more the state will burden one with. Thus, stop. Just stop.
$700 dollars more out of every $10,000 more in taxable income Annie? $700 bucks....more, than if this tax break is not extended....out of every 10k in extra taxable income....

I'm sorry but there is no way that this would be the straw that broke the camel's back....

Maybe this woman just doesn't want to spend her own time trying to make more than $250k and she is comfortable in what she earns now with the time now spent on it, this is possible...

but the $700 dollars more in income tax for every extra $10k earned is NOT the reason to stick to the $249,999....unless she is loony imo....and honestly, she probably should not have her own business to run, IF she has one and if she really believes such....from my own business experience, she doesn't seem cut out for it....it takes a nothing ventured nothing gained attitude... not a complacent, give up, attitude= to succeed in business imo.

Granted i do not know all the circumstances with this woman, but i do know that $700 bucks extra in taxes for every 10k extra earned would not be a sound or logical reason to stop working when you hit the $250k mark.

care

Care, are you trying to justify a tax increase? If so, why?

No, i am calling bullcrap on bullshit. ;)

and i am explaining what this tax increase means, and it certainly is not enough of a tax increase to cause a disincentive for a small business to pare down its business, which is the republican mantra and garbage that is continually touted.

simply that...telling the truth :D about what this tax hike does, in monitary terms.

If those on the right hadn't tried to spin this in to the worst thing that ever happened on the face of the earth as they have done and shouting how it will destroy any small business out there and give no one the incentive to earn more money or grow their business BULLCRAP,

then i would be on the other side of this coin....and repeating what i have stated more than once, i see the necessity of the tax hike, but i think it starts too low at the 250k....starting at a million and higher was my choice of the threshold where taxes could go up without affecting a great deal of the upper middle class earning these hefty salaries in major cities where the cost of living is really high.

When this mess is over, all of our taxes will have to go up, coupled with drastic cuts in spending....and in Social Security imo.

care
 
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$700 dollars more out of every $10,000 more in taxable income Annie? $700 bucks....more, than if this tax break is not extended....out of every 10k in extra taxable income....

I'm sorry but there is no way that this would be the straw that broke the camel's back....

Maybe this woman just doesn't want to spend her own time trying to make more than $250k and she is comfortable in what she earns now with the time now spent on it, this is possible...

but the $700 dollars more in income tax for every extra $10k earned is NOT the reason to stick to the $249,999....unless she is loony imo....and honestly, she probably should not have her own business to run, IF she has one and if she really believes such....from my own business experience, she doesn't seem cut out for it....it takes a nothing ventured nothing gained attitude... not a complacent, give up, attitude= to succeed in business imo.

Granted i do not know all the circumstances with this woman, but i do know that $700 bucks extra in taxes for every 10k extra earned would not be a sound or logical reason to stop working when you hit the $250k mark.

care

Care, are you trying to justify a tax increase? If so, why?

No, i am calling bullcrap on bullshit. ;)

and i am explaining what this tax increase means, and it certainly is not enough of a tax increase to cause a disincentive for a small business to pare down its business, which is the republican mantra and garbage that is continually touted.

simply that...telling the truth :D about what this tax hike does, in monitary terms.

If those on the right hadn't tried to spin this in to the worst thing that ever happened on the face of the earth as they have done and shouting how it will destroy any small business out there and give no one the incentive to earn more money or grow their business BULLCRAP,

then i would be on the other side of this coin....and repeating what i have stated more than once, i see the necessity of the tax hike, but i think it starts too low at the 250k....starting at a million and higher was my choice of the threshold where taxes could go up without affecting a great deal of the upper middle class earning these hefty salaries in major cities where the cost of living is really high.

When this mess is over, all of our taxes will have to go up, coupled with drastic cuts in spending....and in Social Security imo.

care

Care



well then show us the tax tables, or forget calling bullshit
 
$700 dollars more out of every $10,000 more in taxable income Annie? $700 bucks....more, than if this tax break is not extended....out of every 10k in extra taxable income....

I'm sorry but there is no way that this would be the straw that broke the camel's back....

Maybe this woman just doesn't want to spend her own time trying to make more than $250k and she is comfortable in what she earns now with the time now spent on it, this is possible...

but the $700 dollars more in income tax for every extra $10k earned is NOT the reason to stick to the $249,999....unless she is loony imo....and honestly, she probably should not have her own business to run, IF she has one and if she really believes such....from my own business experience, she doesn't seem cut out for it....it takes a nothing ventured nothing gained attitude... not a complacent, give up, attitude= to succeed in business imo.

Granted i do not know all the circumstances with this woman, but i do know that $700 bucks extra in taxes for every 10k extra earned would not be a sound or logical reason to stop working when you hit the $250k mark.

care

Care, are you trying to justify a tax increase? If so, why?

No, i am calling bullcrap on bullshit. ;)

and i am explaining what this tax increase means, and it certainly is not enough of a tax increase to cause a disincentive for a small business to pare down its business, which is the republican mantra and garbage that is continually touted.

simply that...telling the truth :D about what this tax hike does, in monitary terms.

If those on the right hadn't tried to spin this in to the worst thing that ever happened on the face of the earth as they have done and shouting how it will destroy any small business out there and give no one the incentive to earn more money or grow their business BULLCRAP,

then i would be on the other side of this coin....and repeating what i have stated more than once, i see the necessity of the tax hike, but i think it starts too low at the 250k....starting at a million and higher was my choice of the threshold where taxes could go up without affecting a great deal of the upper middle class earning these hefty salaries in major cities where the cost of living is really high.

When this mess is over, all of our taxes will have to go up, coupled with drastic cuts in spending....and in Social Security imo.

care

Care

As for Care's call on bullcrap, it is the cutoff for Obama, which makes this a case in point. It's the breakpoint, so within a reasonable upper limit, yes; it's enough to say 'enough.'That point is not arbitrary, but set.
 
Here's what I figure,, I figure anybody who makes 250 grand a year and runs a business has a tax attorney who will be available to tell them exactly what they will pay in taxes for the income they earn.. I don't think this lawyer lady is as stupid as the DUmbcrats want to paint her as being. I think this tax code they are spouting is pure left wing libral propaganda..
 
somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???

irs.gov/formspubs/article/0,,id=164272,00.html = 2007 Federal Tax Rate Schedules, I can't post URL's yet. Been here forever, but they still won't let me post url's. :confused:

The Tax on 250,000 of taxable income on a single taxpayer in 2007 would have been $68,568.25. A married couple filing jointly would owe $63,370.

Now, granted that does not include all those other taxes you mentioned a few posts ago but it is nearly $30,000 below the $97,000 in Income Taxes you mentioned here which leaves plenty of room for those other taxes.

I used 2007 because I found those easily. I don't believe the 2008 tables are all that different.

Immie
 
$700 dollars more out of every $10,000 more in taxable income Annie? $700 bucks....more, than if this tax break is not extended....out of every 10k in extra taxable income....

I'm sorry but there is no way that this would be the straw that broke the camel's back....

Maybe this woman just doesn't want to spend her own time trying to make more than $250k and she is comfortable in what she earns now with the time now spent on it, this is possible...

but the $700 dollars more in income tax for every extra $10k earned is NOT the reason to stick to the $249,999....unless she is loony imo....and honestly, she probably should not have her own business to run, IF she has one and if she really believes such....from my own business experience, she doesn't seem cut out for it....it takes a nothing ventured nothing gained attitude... not a complacent, give up, attitude= to succeed in business imo.

Granted i do not know all the circumstances with this woman, but i do know that $700 bucks extra in taxes for every 10k extra earned would not be a sound or logical reason to stop working when you hit the $250k mark.

care

Care, are you trying to justify a tax increase? If so, why?

No, i am calling bullcrap on bullshit. ;)

and i am explaining what this tax increase means, and it certainly is not enough of a tax increase to cause a disincentive for a small business to pare down its business, which is the republican mantra and garbage that is continually touted.

simply that...telling the truth :D about what this tax hike does, in monitary terms.

If those on the right hadn't tried to spin this in to the worst thing that ever happened on the face of the earth as they have done and shouting how it will destroy any small business out there and give no one the incentive to earn more money or grow their business BULLCRAP,

then i would be on the other side of this coin....and repeating what i have stated more than once, i see the necessity of the tax hike, but i think it starts too low at the 250k....starting at a million and higher was my choice of the threshold where taxes could go up without affecting a great deal of the upper middle class earning these hefty salaries in major cities where the cost of living is really high.

When this mess is over, all of our taxes will have to go up, coupled with drastic cuts in spending....and in Social Security imo.

care

You see the necessity of a tax hike? How do you figure? If the revenue of a business starts to slide, they can't just increase the price of goods sold to make up the difference. Why should government be any different? Shouldn't they cut costs to make do with what they have?
 
somebody help me.. I know I am mathmatically challenged.. but if you earn 250 grand and are taxed at 39% and all you deductions for charity and home mortgages have been removed won't you pay approximately 97,000 in income taxes.. leaving you with 153 to live on.. or am I way the hell off base,, then let the state tax you again,, bla bla bla bla you suddenly ain't rich no mo are ya??? then don't forget doncha have to take out sociable security taxes too???

irs.gov/formspubs/article/0,,id=164272,00.html = 2007 Federal Tax Rate Schedules, I can't post URL's yet. Been here forever, but they still won't let me post url's. :confused:

The Tax on 250,000 of taxable income on a single taxpayer in 2007 would have been $68,568.25. A married couple filing jointly would owe $63,370.

Now, granted that does not include all those other taxes you mentioned a few posts ago but it is nearly $30,000 below the $97,000 in Income Taxes you mentioned here which leaves plenty of room for those other taxes.

I used 2007 because I found those easily. I don't believe the 2008 tables are all that different.

Immie


mine figure is a tax rate of 39% that which the obamalama quoted we were going back to as in the Clinton era...
 
My guess this lady is doing it on "principle" a lot of people are pissed at the idea of "wealth redistribution" the idea that someone works hard, goes to school and builds a rewarding career only to be punished for their success by having to pay ever increasing taxes does something to incentive..
My guess is that this women is really stupid and a poor lawyer. And the reporter is pretty stupid as well.

Since you are such a good guesser, tell us the lottery numbers.
 
My guess this lady is doing it on "principle" a lot of people are pissed at the idea of "wealth redistribution" the idea that someone works hard, goes to school and builds a rewarding career only to be punished for their success by having to pay ever increasing taxes does something to incentive..
My guess is that this women is really stupid and a poor lawyer. And the reporter is pretty stupid as well.

Since you are such a good guesser, tell us the lottery numbers.





:eusa_shhh: we are much safer when we leave Ravi in la la land...
 
Here's what I figure,, I figure anybody who makes 250 grand a year and runs a business has a tax attorney who will be available to tell them exactly what they will pay in taxes for the income they earn.. I don't think this lawyer lady is as stupid as the DUmbcrats want to paint her as being. I think this tax code they are spouting is pure left wing libral propaganda..

Here's what I think for what it is worth.

I don't think this person is an attorney. I'd would not be surprised to find out she had not even graduated from High School. I suspect this is a woman who doesn't understand what she is talking about but is trying to sound like she is someone who is important so that she can make others believe she's right.

Personally, I wish I made $250k a year so that I could enjoy having to pay those taxes, but alas, I don't have the ambition to "get ahead". I'm comfortable where I am and I will live with that.

Immie
 

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