32.5%??

Discussion in 'Economy' started by hortysir, Dec 26, 2010.

  1. hortysir
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    hortysir In Memorial of 47

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    That is the rate at which my first bonus check was taxed.
    Apparently bonuses are considered a "luxury" and are subject to Luxury Tax and that's the current rate.

    Now, I'm not a banker making truckloads of money off of shady investments.
    My bonuses are performance and result driven.
    As a big thank you, Uncle Sam takes 1/3???

    :evil:
     
  2. uscitizen
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    uscitizen Senior Member

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    That is what is withheld. The tally will be known after you file.
     
  3. hortysir
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    hortysir In Memorial of 47

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    If that was supposed to be comforting, it fell short
    :razz:
     
  4. william the wie
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    william the wie Gold Member

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    Your government is in action to serve the public which of course does not include individuals like you.
     
  5. syrenn
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    syrenn BANNED

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    I feel your pain. Happens to me too. IT SUCKS!!!
     
  6. daveman
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    daveman Diamond Member

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    You hush. The government knows how to spend your money better than you. Consider yourself lucky they let you keep any of it.
     
  7. hortysir
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    hortysir In Memorial of 47

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    Thanks......

    It just tickles me to hear some carry on about how the "rich" aren't taxed enough.
    If that's anything like their rate, I think 1/3 is plenty high enough of a rate.

    It's strange how something that is part of my pay structure can be considered a "luxury"
    :eusa_eh:
     
  8. loosecannon
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    loosecannon Senior Member

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    apparently your comment fell on deaf ears.

    With holdings are not the final tax rate. They are just what the IRS exacts upfront before your actual rate of tax is determined in your return according to ordinary income and deductions data.
     
  9. loosecannon
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    loosecannon Senior Member

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    Don't worry, you will get a generous refund.
     
  10. rdean
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    rdean Guest

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    You're lucky Republicans weren't able to send your job to China.
     

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