5.4% income tax increase for 2024

[Winco]

US tax brackets will rise by around 5.4 percent next year in line with inflation, the Internal Revenue Service (IRS) has confirmed.

I don't think you understand what is being said.
You see the words "Tax" and "Increase" and you immediately want to blame someone, even though this is ACTUALLY a good thing for you. You WILL pay less tax, not more.

Comment:
The Politicians don't care how much they spend because they can always raise taxes some more.

You are confused.

It’s still a tax increase no need to lie about it.

It's NOT.
It saves you $$$$$, you will pay LESS in Taxes.

 

[task0778]

From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.

No doubt I am misunderstanding this, but if a person made $11,500 last year then they had to pay income tax at 10%, right? But if they made $11,500 this year then they pay nothing, right? Obviously if that person's income went up to say $12,500 then that person pays more income tax cuz he/she had more income, but probably at pretty close to the same rate as last year. Sooo, who is getting hammered here?

 

[Mikeoxenormous]

Flat rate 4% federal consumption tax, combined with a balanced budget law that criminalizes spending above revenue levels. If they want more money, pass legislation that grows the economy and their 4%. Libtards who want to pay more can do so from their own earnings.

When ever there is a government shutdown, the government releases "Non Essential Personnel". Then when the government reopens these lazy fucks get back pay for doing nothing. If they are Non Essential, fire every last one of them, that would bring the deficit down real quick...

 

[Harpy Eagle]

When ever there is a government shutdown, the government releases "Non Essential Personnel". Then when the government reopens these lazy fucks get back pay for doing nothing. If they are Non Essential, fire every last one of them, that would bring the deficit down real quick...

Whenever a typhoon hits the island of Okinawa, the military has all non-essential personnel confined to quarters till it is past. Using your logic all those military members need to be fired, which is about 95% of them on the island.

 

[Fort Fun Indiana]

sure kid, sure. All I know is you are never going to that tax bracket that I enjoy.
Where you live? Maybe I am your landlord ?

AMF

Haha, every loser becomes their fake dream character, on the web.

 

[Winco]

No doubt I am misunderstanding this, but if a person made $11,500 last year then they had to pay income tax at 10%, right? But if they made $11,500 this year then they pay nothing, right? Obviously if that person's income went up to say $12,500 then that person pays more income tax cuz he/she had more income, but probably at pretty close to the same rate as last year. Sooo, who is getting hammered here?

Ok, here it is:

First point is understanding the difference between the 10% and 12% bracket.
Once you get past the 10% bracket, you pay 12%, but you ONLY pay the 12% on the amount on the 10% bracket.

For example.

Let's pretend someone made $12,000.

in 2024, the 10% Bracket goes to $11,600, so 10% of that is $1,160.
12% kicks in on the remaining $400 only, so 12% of $400 is $48
Totalling $1,208 in Taxes owed.

In 2023, the 10% Bracket goes to $11,000, so 10% of that is $1,100.
12% kicks in on the remaining $1,000 only, so 12% of $1,000 is $120
Totalling $1,220 in Taxes owed.

There it is ^^^^^.

 

[Flash]

Flat rate 4% federal consumption tax, combined with a balanced budget law that criminalizes spending above revenue levels. If they want more money, pass legislation that grows the economy and their 4%. Libtards who want to pay more can do so from their own earnings.

Some good ideas there.

My plan would be to reduce the Federal government down to minimal size. Just the necessities like Defense, State Department, Courts, Border Patrol, Patent office etc. Absolutely no entitlements, welfare, grants, subsidies or foreign aid. Do away with all the alphabet agencies. That should cut the budge down to a little over a trillion a year.

I think everybody should have to pay taxes to support that minimal budget, even the poor so they will have skin in the game. No freeloaders.

 

[Moonglow]

IRS confirms new tax brackets for 2024 - here's what it means for YOU

US tax brackets will rise by around 5.4 percent next year in line with inflation , the Internal Revenue Service (IRS) has confirmed.

www.dailymail.co.uk

US tax brackets will rise by around 5.4 percent next year in line with inflation, the Internal Revenue Service (IRS) has confirmed.
From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.
Meanwhile the highest rate of 37 percent will now apply to workers whose salaries exceed $609,350, up from $578,125 in 2023. Middle-income thresholds all saw similar rises.
From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.
Meanwhile the highest rate of 37 percent will now apply to workers whose salaries exceed $609,350, up from $578,125 in 2023. Middle-income thresholds all saw similar rises.
View attachment 856444

Comment:
The Politicians don't care how much they spend because they can always raise taxes some more.

View attachment 856446

Not without Congressional approval

 

[Moonglow]

Personal deduction for 2024 is higher also

 

[Concerned American]

When ever there is a government shutdown, the government releases "Non Essential Personnel". Then when the government reopens these lazy fucks get back pay for doing nothing. If they are Non Essential, fire every last one of them, that would bring the deficit down real quick...

Agreed! Nothing but ESSENTIAL personnel should be hired by the government. Anything else is a misappropriation of public funds.

 

[Harpy Eagle]

Agreed! Nothing but ESSENTIAL personnel should be hired by the government. Anything else is a misappropriation of public funds.

Whenever a typhoon hits the island of Okinawa, the military has all non-essential personnel confined to quarters till it is past. Using your logic all those military members need to be fired, which is about 95% of them on the island.

 

[Dadoalex]

IRS confirms new tax brackets for 2024 - here's what it means for YOU

US tax brackets will rise by around 5.4 percent next year in line with inflation , the Internal Revenue Service (IRS) has confirmed.

www.dailymail.co.uk

US tax brackets will rise by around 5.4 percent next year in line with inflation, the Internal Revenue Service (IRS) has confirmed.
From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.
Meanwhile the highest rate of 37 percent will now apply to workers whose salaries exceed $609,350, up from $578,125 in 2023. Middle-income thresholds all saw similar rises.
From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.
Meanwhile the highest rate of 37 percent will now apply to workers whose salaries exceed $609,350, up from $578,125 in 2023. Middle-income thresholds all saw similar rises.
View attachment 856444

Comment:
The Politicians don't care how much they spend because they can always raise taxes some more.

View attachment 856446

HA!

You can thank Donald J. Trump, MAGAT in Chief for this tax increase.
That "tax cut" you were so proud of was only permanent for the wealthiest.
But for the rest, especially those stupid enough to vote for him, they expire next year.

I'd laugh but your tears are enough for me.

 

[Dadoalex]

The dems not only cause the inflation they are now going to tax you for it with their new 87K IRS agents.....Does something seem amiss here?

This is on your boy DJT.
Just another fu##ing delivered to you by your favorite president.

 

[Dadoalex]

Not Biden, Trump.
Those glorious tax cuts you all were so proud of are expiring next year and they have to make up for all the cuts given to the rich.
EXCEPT
For Trump and his buddies. They get to keep theirs while raising your taxes in absentia.

 

[Polishprince]

IRS confirms new tax brackets for 2024 - here's what it means for YOU

US tax brackets will rise by around 5.4 percent next year in line with inflation , the Internal Revenue Service (IRS) has confirmed.

www.dailymail.co.uk

US tax brackets will rise by around 5.4 percent next year in line with inflation, the Internal Revenue Service (IRS) has confirmed.
From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.
Meanwhile the highest rate of 37 percent will now apply to workers whose salaries exceed $609,350, up from $578,125 in 2023. Middle-income thresholds all saw similar rises.
From 2024, the lowest tax rate of 10 percent will apply to those earning up to $11,600, up from $11,000 this year.
Meanwhile the highest rate of 37 percent will now apply to workers whose salaries exceed $609,350, up from $578,125 in 2023. Middle-income thresholds all saw similar rises.
View attachment 856444

Comment:
The Politicians don't care how much they spend because they can always raise taxes some more.

View attachment 856446

yes, the libs tax too much.

But this isn't a "Tax Increase". This is indexing tax brackets for inflation, something the libs fought against with every fiber of their beings when President Reagan introduced it in the 1980's.

If it was up to the D's, we'd still have the same brackets we had in 1980, unadjusted for inflation. 70% for those making $100,000, and 49% for those making $34,000

 

[Concerned American]

Whenever a typhoon hits the island of Okinawa, the military has all non-essential personnel confined to quarters till it is past. Using your logic all those military members need to be fired, which is about 95% of them on the island.

Again -- a typical democrat changing the definition of a term. Military are defense and as such are essential 24 hours a day. The fact that someone uses a misnomer does not make it so. People who are non-essential? How about civilian security personnel on a military base or any civilian performing any function on a military installation. Now run along moron, your ignorance is getting the best of you.

 

[Harpy Eagle]

Again -- a typical democrat changing the definition of a term. Military are defense and as such are essential 24 hours a day. The fact that someone uses a misnomer does not make it so.

You need to reach out to the military and let them know they have been using the wrong term for the past 100 years or so. I am sure they will appreciate it.

People who are non-essential? How about civilian security personnel on a military base or any civilian performing any function on a military installation.

Interesting point of view. I take it you have never actually been on a military base.

 

[Concerned American]

I take it you have never actually been on a military base.

Like most other things you comment on, you are wrong.

 

[Harpy Eagle]

Like most other things you comment on, you are wrong.

Oh, did you get to do a tour of one with your 4th grade class?

 

[Concerned American]

Oh, did you get to do a tour of one with your 4th grade class?

I think you just enjoy being wrong. You're batting average is perfect.