GDP

[steve from amherst]

2 minutes ago, Snoslinger said:

if everyone paid 12% we would be in far worse shape than what we are now. ACs 35% is more realistic. 

Then show us yours  

https://apps.irs.gov/app/withholdingcalculator/index.jsp

 

 

MIne says just under 16$k. But calculator dosnt have prop taxes and mort interest.

 

[Snoslinger]

Just now, steve from amherst said:

Then show us yours  

https://apps.irs.gov/app/withholdingcalculator/index.jsp

 

 

MIne says just under 16$k. But calculator dosnt have prop taxes and mort interest.

 

not sure what you are arguing about here. what does my current tax dollars have to do with this? 

if we did not have a progressive tax system, all people would need to pay much more than 12%. that is my point.

 

[Snoslinger]

if you're asking what my overall fed tax rate is, minus all the deductions and other things, i believe i came in around 17%. 

[steve from amherst]

And that brings us right back to where we started. People want other people to pay more , just not them. Obvious human nature.

[steve from amherst]

1 minute ago, Snoslinger said:

if you're asking what my overall fed tax rate is, minus all the deductions and other things, i believe i came in around 17%. 

You may want to look for a new accountant.

[Snoslinger]

2 minutes ago, steve from amherst said:

You may want to look for a new accountant.

i do them myself. why does that number seem high? 

 

Edited August 29, 2018 by Snoslinger

[Snoslinger]

what rate do you pay? do you even know for sure? 

[steve from amherst]

Just now, Snoslinger said:

i do them myself. why does that number seem high? 

 

Well I did a married filing jointly on another calculator . Without RE taxes and mort interest it cam in at just under 15%

[steve from amherst]

To simplify it I suppose I coulc just deduct $10k from income as that is the max deduction for both combined. Ill try it

[Edmo]

21 minutes ago, steve from amherst said:

Why would he have to change places with me when he could join me ? 

Nobody seems to want to answer this...hmmm.

[steve from amherst]

10 minutes ago, Snoslinger said:

what rate do you pay? do you even know for sure? 

Effective tax rate

12.5%

 

 

https://www.nerdwallet.com/taxes/tax-calculator

 

 

[Angry ginger]

 

25 minutes ago, steve from amherst said:

Effective tax rate

12.5%

 

 

https://www.nerdwallet.com/taxes/tax-calculator

 

 

and yet most people whine they are taxed to much.  Only in america can someone make 100k pay 15% in taxes and bitch about it.  

 

40 minutes ago, Snoslinger said:

i do them myself. why does that number seem high? 

 

seems high unless your around 300k in income.  Esp last year when NY state income tax and the high property taxes were not limited on deductions.  

[SnowRider]

Were America’s corporations, wealth, and economic equality historically shitty prior to Reaganomics....???

 

Edited August 29, 2018 by SnowRider

[Angry ginger]

cutting corporate tax rate makes more sense than cutting personal income tax rates.  Corporate tax rates need to be competitive on a world stage personal tax rates do not  

[xtralettucetomatoe580]

3 hours ago, Angry ginger said:

cutting corporate tax rate makes more sense than cutting personal income tax rates.  Corporate tax rates need to be competitive on a world stage personal tax rates do not  

Exactly. I could even see incentivizing Cap X with even further reductions in the corporate rate. Then close up loop holes for this who can afford a high priced accountant so they actually pay their share. 

[Snoslinger]

3 hours ago, Angry ginger said:

 

and yet most people whine they are taxed to much.  Only in america can someone make 100k pay 15% in taxes and bitch about it.  

 

seems high unless your around 300k in income.  Esp last year when NY state income tax and the high property taxes were not limited on deductions.  

not that high, and maybe. 17% stands out for some reason. i'll check later. 

[Anler]

4 hours ago, Angry ginger said:

cutting corporate tax rate makes more sense than cutting personal income tax rates.  Corporate tax rates need to be competitive on a world stage personal tax rates do not  

It really does. 

[Snake]

 

9 hours ago, Snoslinger said:

bet we didn't read one  positive word from you over these years. well, maybe three..... "it's all fake". these numbers didn't require huge tax giveaways either.

 

 

 

President Herbert Hoover was inaugurated in March 1929, five months before the Great Depression started. He left office in March 1933, when Roosevelt was inaugurated.

During the three full calendar years of Hoover’s term that the BEA has calculated the percentage growth in real GDP (1930-1932), the economy did best in 1931, when real GDP declined by 6.4 percent.

In 1933, the year Hoover departed and Roosevelt was inaugurated, real GDP declined by 1.3 percent.

But in each of the next four years, real GDP grew by more than 3 percent, hitting 10.8 percent in 1934; 8.9 percent in 1935; 12.9 percent in 1936; and 5.1 percent in 1937.

Real GDP grew at a faster pace during these years in the mid-1930s than it did at any time during Obama’s presidency.

In 1938, when Roosevelt was in his second term, real GDP dropped by 3.3 percent.

But in the next six years, including the first three years after Pearl Harbor, real GDP grew by large margins. In 1939, it climbed 8.0 percent; in 1940, 8.8 percent; in 1941, 17.7 percent; in 1942, 18.9 percent; in 1943, 17.0 percent; and in 1944, 8.0 percent.

In 1945, when Roosevelt died and Vice President Harry Truman assumed office--and when World War II ended--real GDP declined by 1.0 percent. In 1946, it dropped by 11.6 percent; and, in 1947, it dropped by 1.1 percent.

But in 1948, it bounced back, growing by 4.1 percent.

During Truman’s presidency, growth in real GDP peaked at 8.7 percent in 1950.

In Dwight Eisenhower’s presidency, it peaked at 7.1 percent in 1955.

In John F. Kennedy’s presidency, it peaked at 6.1 percent in 1962.

In Lyndon Johnson’s presidency, it peaked at 6.6 percent in 1966.

In Richard Nixon’s presidency, it peaked at 5.6 percent in 1973.

In Gerald Ford’s presidency, it peaked at 5.4 percent in 1976.

In Jimmy Carter’s presidency, it peaked at 5.6 percent in 1978.

In Ronald Reagan’s presidency, it peaked at 7.3 percent in 1984.

In George H.W. Bush’s presidency, it peaked at 3.7 percent in 1989.

In Bill Clinton’s presidency, it peaked at 4.7 percent in 1999.

In George W. Bush’s presidency, it peaked at 3.8 percent in 2004.

In Barack Obama’s presidency, it peaked at 2.6 percent in 2015.

https://www.cnsnews.com/news/article/terence-p-jeffrey/obama-first-president-great-depression-not-see-3-gdp-growth

 

"Cool"

[Angry ginger]

3 hours ago, Nazipigdog said:

It really does. 

giving preferential treatment to scorp,  llc and partnership income on the other hand does not make sense as those don't compete on a global stage,  those should be at normal rates as pass through entities

 

[ActionfigureJoe]

Two unfinished wars and a catastrophic economic collapse. Obama did pretty good for a guy with a fake birth certificate. 

[Snake]

51 minutes ago, ActionfigureJoe said:

Two unfinished wars and a catastrophic economic collapse. Obama did pretty good for a guy with a fake birth certificate. 

"This blowjob is terrible" -AFJ

[Zambroski]

1 minute ago, Snake said:

"This blowjob is terrible" -AFJ

 

[frenchy]

13 hours ago, DriftBusta said:

Bet you won't acknowledge that Barack said 2 was the new normal either.  Give credit where credit is due.  Trump is the reason for this economy, and he's unshackled it.

2 is they new normal over time when you factor in recessions and normal economic swings over the course of say a decade. The boom of tax cuts and deficit spending combined don’t last forever. 

[ActionfigureJoe]

What’s going to be the deficit for this year? How’s that going to work when the economy slows? 

[frenchy]

4 minutes ago, ActionfigureJoe said:

What’s going to be the deficit for this year? How’s that going to work when the economy slows? 

Or rates rise. 

Edited August 30, 2018 by frenchy