IRS: Here are the new income tax brackets for 2023

[westwall]

I buy what I like. The watches I like don't cost five figures. It really has nothing to do with price and everything to do with design. Could I buy a Patek? Sure I can.

I'd never wear it...



My photo "creds"?




Yeah, I take pictures at the Amelia. I also show at the Amelia. My '69 Charger has been there.

No one bothers with Maybach's at the Concours because Maybach's are relatively boring...



But not your 200' yacht. You can't, so you live vicariously through your "friends".

You continue to try to impress people with the fact that you know rich people.

Sad, really.

And I actually meant to delete the photo of the boat. I took it out of the body of the post...



When was the last time I posted about my camera equipment?



See, now I know you're clueless. Canon (not "Cannon") is used by many of the world's premiere photographers, just like Nikon and Sony are...



I'll take that compliment...



And, in a larger sense, what's fair and what isn't, correct?



See, the flaw in your reasoning is that you seem to believe that those making $50K a year don't spend the same percentage of their income as someone making $800K a year. It's not the actual dollar amount they spend that matters, it's the percentage.

Again, I believe it's monumentally foolish for someone with money to not be concerned with a budget...

I don't show my Maybach, it is my daily driver. I have a GT40 MK1, and I race several different classic race cars at the Monterey classics. One of my cars is in this picture.

Someone making 50k CAN'T spend the same percentage of their income as I can. Their base living expenses consume all they make.

My base living expenses are nowhere near what I make. Thus, I can spend whatever the hell I want, on whatever the hell I want to.

Who is going to be impressed by who I know? I have named no names, other than my friend who passed away.

You used to post a lot about your camera stuff, and I remember several times that the discussion got heated, why I have no idea but you and some other guy were trading insults.

Seemed rather silly to me.

But, once again, the couple making 50k are significantly impacted by the 6250 they pay in taxes.

That is my bill at Nobu.......

 

[Canon Shooter]

I don't show my Maybach, it is my daily driver. I have a GT40 MK1, and I race several different classic race cars at the Monterey classics. One of my cars is in this picture.

I'm gonna' call bullshit.

You'd need to post a photo of yourself with it, holding up a sign that says "Hi Steve" before I believe you own a, what? A '56 300SL Gullwing? 1955?

Right.

Not to mention a GT40. What year is that?

Prove me wrong and I'll be the first to apologize for doubting you. But I don't think you will...

Someone making 50k CAN'T spend the same percentage of their income as I can. Their base living expenses consume all they make.

Again, you don't get to be the guy who determines what someone can and cannot spend...

My base living expenses are nowhere near what I make. Thus, I can spend whatever the hell I want, on whatever the hell I want to.

Bragging? Or is this another... what did you call it? Oh, right, a "discussion point"...

Who is going to be impressed by who I know? I have named no names, other than my friend who passed away.

Meh, missed that.

I don't think I've name-dropped either...

You used to post a lot about your camera stuff, and I remember several times that the discussion got heated, why I have no idea but you and some other guy were trading insults.

You said I post endlessly about my camera equipment. I don't.

You're a liar.

And, if you'll lie about that, why wouldn't you like about owning a Gullwing?

Seemed rather silly to me.

But, once again, the couple making 50k are significantly impacted by the 6250 they pay in taxes.

That is my bill at Nobu.......

Again, trying to impress people with what you say you spend.

Besides, I'd rather eat at Fleur in Vegas. I don't really like chain store restaurants like Nobu.

Yeah, I think you're full of shit. You've been posting non-stop about how much money you spend. People with money rarely ever do that and, if they do, it's because they're an insufferable prick. If you'll notice, I haven't said what I spend. I haven't said what I make. I haven't said what I paid for my car or my house. I haven't said what I spend on dinner.

You've done almost all of that, which leads me to believe none of it...

 

[Foxfyre]

Released yesterday link

The IRS has released higher federal tax brackets for 2023 to adjust for inflation.
The standard deduction is increasing to $27,700 for married couples filing together and $13,850 for single taxpayers.

There are also changes to the alternative minimum tax, estate tax exemption, earned income tax credit and flexible spending account limits, among others.

Amid soaring inflation, the IRS this week announced higher federal income tax brackets and standard deductions for 2023.

The agency has boosted the income thresholds for each bracket, applying to tax year 2023 for returns filed in 2024.

These brackets show how much you’ll owe for federal income taxes on each portion of your “taxable income,” calculated by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

Higher standard deduction
The standard deduction will also increase in 2023, rising to $27,700 for married couples filing jointly, up from $25,900 in 2022. Single filers may claim $13,850, an increase from $12,950.



In before financial illiteracy manifests itself.

This reflects the tax reform schedule passed by Trump and the Republicans and if we don't have a Republican House, Senate, and White House in 2025 it will revert back to the much less favorable rates of the Obama years.

 

[westwall]

I'm gonna' call bullshit.

You'd need to post a photo of yourself with it, holding up a sign that says "Hi Steve" before I believe you own a, what? A '56 300SL Gullwing? 1955?

Right.

Not to mention a GT40. What year is that?

Prove me wrong and I'll be the first to apologize for doubting you. But I don't think you will...



Again, you don't get to be the guy who determines what someone can and cannot spend...



Bragging? Or is this another... what did you call it? Oh, right, a "discussion point"...



Meh, missed that.

I don't think I've name-dropped either...



You said I post endlessly about my camera equipment. I don't.

You're a liar.

And, if you'll lie about that, why wouldn't you like about owning a Gullwing?



Again, trying to impress people with what you say you spend.

Besides, I'd rather eat at Fleur in Vegas. I don't really like chain store restaurants like Nobu.

Yeah, I think you're full of shit. You've been posting non-stop about how much money you spend. People with money rarely ever do that and, if they do, it's because they're an insufferable prick. If you'll notice, I haven't said what I spend. I haven't said what I make. I haven't said what I paid for my car or my house. I haven't said what I spend on dinner.

You've done almost all of that, which leads me to believe none of it...

Never said I owned a Gullwing, I said my car is in the picture. It's in the background. All of these cars are in the same class at the Classics.

I have posted pics of my GT here. I can't remember which thread, but they are here.

I almost never talk about what I spend. Feel free to look through my history. The last time I posted about a purchase was at least two years ago, maybe three. And that was only a rifle.

But, yet again, address the OP. The simple fact is a couple making 50k is significantly impacted by a 6250 tax bill.

A couple making 800k isn't affected by a 200k tax bill on nearly the same level. It means they can't buy an expensive toy every month.

 

[Harpy Eagle]

You want to try and impress people with how much you spend? You that insecure?

Didn't you just do the same thing a few post up?

 

[Moonglow]

Didn't you just do the same thing a few post up?

These guys are probably living in a cheap retirement home.

 

[Harpy Eagle]

Look at how the middle class gets raped. How nice.

How are they getting raped when the the amount needed to stay at 10% increased by 1450 for couples and the amount need to stay in the 12% range increased by $5990

 

[Harpy Eagle]

These guys are probably living in a cheap retirement home.

Yeah, good chance.

 

[gipper]

A married couple with $800K a year in taxable income, according to this chart, is going to pay about $226,000 in taxes; more than 28% of their income. A married couple with $50K a year in taxable income will pay about $6,250 in taxes, or roughly 12.5%.

Tell me again how the middle class is getting raped.

There's not a single reason in the world not to charge everyone the same percentage...

Now compare that to the percentage paid by the billionaires, many of whom pay extraordinarily low rates.

 

[Canon Shooter]

Never said I owned a Gullwing, I said my car is in the picture. It's in the background. All of these cars are in the same class at the Classics.

Cool story. Stick with that...

I have posted pics of my GT here. I can't remember which thread, but they are here.

ight...

I almost never talk about what I spend. Feel free to look through my history. The last time I posted about a purchase was at least two years ago, maybe three. And that was only a rifle.

Well, congratulations, because I think, in this thread, you've made up for all that lost time...

But, yet again, address the OP. The simple fact is a couple making 50k is significantly impacted by a 6250 tax bill.

Of course they are. And someone making $800K a year is significantly impacted by a $256,332 tax bill. Most people making $800,000 are living an $800,000 lifestyle. It's stupid to assume otherwise. Their bills are commensurate with what they make, just as the bills of the couple making $50,000 a year are commensurate with what they make...

A couple making 800k isn't affected by a 200k tax bill on nearly the same level. It means they can't buy an expensive toy every month.

You're actually $56,332 shy, but I can see how you'd want to try to mitigate the tax responsibility in this discussion. The impact is actually greater on the $480,000 couple because their tax liability is almost triple that of the $50,000 couple. The people making $50,000 a year have a $200,000 mortgage. The guy making $800,000 has a $2.5 million mortgage.

If the guy making $800K a year lived in a $200,000 home then, yeah, I'd agree with you. But I don't know anyone who makes that kind of money and lives in a home worth less than a million dollars...

 

[Canon Shooter]

Didn't you just do the same thing a few post up?

Where did I do that?

I mentioned that I owned a boat. I never bragged about what it cost.

I never bragged about what I spent on my car.

I never bragged about what I spend on dinner.

In fact, I've not mentioned a single dollar amount spent on anything I have. Why not? Because only insufferable pricks who think people will be impressed by the amount of money they spend do that.

I could list them if you'd like, but would you be impressed? Of course not, nor should you be.

Sadly, though, some folks here absolutely think you should be...

 

[Harpy Eagle]

Where did I do that?

I did not respond to your post.

 

[Canon Shooter]

I did not respond to your post.

My mistake. Mea culpa...

 

[Canon Shooter]

These guys are probably living in a cheap retirement home.

Fuck that! I'll never live in a retirement home. I'll do a "Vanishing Point" thing before I move into a retirement home (although Barry Newman's driving a '70 Challenger and my Mopar is a '69 Charger)...

 

[westwall]

How are they getting raped when the the amount needed to stay at 10% increased by 1450 for couples and the amount need to stay in the 12% range increased by $5990

I am saying income taxes hurt the middle class period.

Do away with income tax and have a graduated sales tax to pay for government.

More expensive items have higher sales taxes.

 

[westwall]

Fuck that! I'll never live in a retirement home. I'll do a "Vanishing Point" thing before I move into a retirement home (although Barry Newman's driving a '70 Challenger and my Mopar is a '69 Charger)...

He didn't commit suicide. According to the director, in the scene you can see sunlight between the blades of the dozers, so he was aiming for that gap.

 

[Canon Shooter]

He didn't commit suicide. According to the director, in the scene you can see sunlight between the blades of the dozers, so he was aiming for that gap.

I can only conclude that you're not happy unless you're making a complete fool of yourself.

This is what Kowalski was looking at. He knew he wouldn't make it, which is why he didn't slow down:

Unless those were the two biggest bulldozers in the history of big bulldozers, he doesn't shoot that gap...

 

[Canon Shooter]

More expensive items have higher sales taxes.

An idea which is completely devoid of anything which might even mildly resemble logic.

You wanna' hurt the middle class? Tax the shit out of them when they buy a house.

Yeah, great fuckin' plan...

 

[westwall]

An idea which is completely devoid of anything which might even mildly resemble logic.

You wanna' hurt the middle class? Tax the shit out of them when they buy a house.

Yeah, great fuckin' plan...

Sheesh you are clueless. The taxes are graduated based on the cost. A 300,000 home isn't taxed at the same rate that a 30,000,000 home is. With no income tax to waste peoples time, there is no need for IRS agents, no need for a plethora of CPA's, and tax attorneys etc. All of that wasted time, and money with our current system. GONE.

 

[westwall]

An idea which is completely devoid of anything which might even mildly resemble logic.

You wanna' hurt the middle class? Tax the shit out of them when they buy a house.

Yeah, great fuckin' plan...

I can only conclude that you're not happy unless you're making a complete fool of yourself.

This is what Kowalski was looking at. He knew he wouldn't make it, which is why he didn't slow down:

View attachment 713612

Unless those were the two biggest bulldozers in the history of big bulldozers, he doesn't shoot that gap...

Take it up with the director. It is in the commentary, dumbshit. Barry's character thought, in his drug addled mind, that he could shoot the gap.