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The IRS Stimulus Payments sucks

BLU_G.6K said:
Speaking of OT...When I used to be hourly there was one time where I worked 36 hrs of OT in one 2 week pay period and of that 36 hrs, 14 of it was double time. I was making about $18/hr at that time. I expected a really nice paycheck but when I got paid, it was only $300 over what I would make without any OT because they took so much out for taxes. That was the day I stopped working so much OT and decided to take my career down a different path.
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Bonus's are even worse, damn near 50% in taxes.
 
spddrcr said:
boo hoo on you, oh my god just imagine you might actually have to get out there and get your hands dirty in the real world like most other people did to get through school:rolleyes

I myself worked full time and went to school fulltime to put myself and my wife through college and it's really starting to piss me off to hear "kids" today complaining about having to work while going to school. do you think your owed something? why should it be any easier for you then anyone else?

Ill be using my money to feed my family while my wife is recovering from back surgery for the next year, ill also be selling just about everything i own just to be able to live, so screw you guys complaining about not getting your new riding suits or actually having to pay for your way through college:wtf
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+1242492592547933

Bowling4Bikes said:
-lol....I used to say 'IT's Completely Unfair!!!' all the time...when I was a young teenager and my parents wouldn't let me stay up to watch TV. I challenge anyone to tell what exactly, in life, IS completely fair!

-Perhaps instead of owning an SV And an r6 (ie: a luxury stacked upon a luxury), it would have been more prudent to buy some decent gloves and a ventilated suit. But let me know how blaming the gov't for poor spending habits does for ya, k?

-I feel so ashamed for getting a rebate, that I will squeeze out a tear for each and every person not getting their $600.
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+10

Dr. Evil said:
Don't tell me to shut the fuck up. I will have to, or find similar means of providing fiduciary sustenance to my collegiate career, starting next year, and I have at least 3 years to go. It won't be good if I have to, because I have a hard enough time studying as it is.
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How fucking long is it going to take you to get through school? Add a couple units to your semester, get student loans, join the fucking National Guard. There's federal loans, state loans, and all kinds of loan forgiveness programs if you go into non-profit work or civil service.

Be smart and get yourself a scholarship. I just paid my way through law school, you can't make it through undergrad? Give me fucking break!
 
I was just hoping someone could confirm if I am correct as to the details of the "rebate." I know that is how it went the last time (2001?) but have not really paid attention to this one, since I won't be getting it. I do think it's a bit sad, if majority of people are looking at it as a handout, when they'll basically be paying it off next year, one way or another.
 
You wanna talk about how much is paid in taxes?

I grossed over $300k last year. 55% of that went back out in the form of Taxes. That's not including payroll type taxes, that's "cost of doing business" taxes. That's also not covering expenses so... yeah, the government gets WAY more than it's fair share.
 
Dr. Evil, sack up and deal with it. Just like spdrco, I too worked full time while in college. It happens.
 
RedAnt said:
It's easy to be a closet anarchist when you have parents with money that live in an expensive neighborhood as you put it. Try being a REAL anarchist and see how you like it.
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I'm only a closet anarchist because real anarchy is more of a pipe dream than communism. Communism relies only on the honesty of people. Anarchy relies on their honesty and good will. Like that will ever happen. So, I vote libertarian. :p
 
Ozymandias said:
You wanna talk about how much is paid in taxes?

I grossed over $300k last year. 55% of that went back out in the form of Taxes. That's not including payroll type taxes, that's "cost of doing business" taxes. That's also not covering expenses so... yeah, the government gets WAY more than it's fair share.
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Are you shopping for a bride? Why do you feel you need to splash your income figures on BARF?:rolleyes

If you are rolling in the money, why do you ride old bikes?
 
cardinal03 said:
Edit - Nevermind, it looks like it is an advance on your return for next year.

http://www.irs.gov/newsroom/article/0,,id=177937,00.html
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It looks like free money to me:

(from the IRS)
What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.
 
Ozymandias said:
You wanna talk about how much is paid in taxes?

I grossed over $300k last year. 55% of that went back out in the form of Taxes. That's not including payroll type taxes, that's "cost of doing business" taxes. That's also not covering expenses so... yeah, the government gets WAY more than it's fair share.
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If you paid your taxes before subtracting expenses, you're doing it wrong.

If you're paying more than 35% federal, you're also doing it wrong.

And with the maximum marginal rate in CA being 10.3%, you're DEFINITELY DOING IT WRONG!!!!
 
sv2007 said:
It looks like free money to me:

(from the IRS)
What is it? It's an economic stimulus payment that more than 130 million households will receive starting in May. It's not taxable, and it won't reduce your 2007 or 2008 refund or increase the amount you owe when you file your 2008 return.
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That's what I thought, but if you run through the calculator, it says it's an advance payment - so I have no idea WTF it is.

If you make from $3K~$50K, depending on circumstances, you should be getting $600.
 
I made the mistake of checking my 401k :p

Personal Rate of Return from 01/01/2008 to 03/17/2008 is -10.5%
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At least it will buy me more shares than normal when I get paid this month. :toothless
 
RedAnt said:
Bonus's are even worse, damn near 50% in taxes.
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It isn't your bonus or overtime getting taxed. Payroll deductions look at the amount and tax it at a rate assuming it is your regular pay. Unless you're getting regular bonuses or overtime, you get the money back in your refund.
 
mlm said:
It isn't your bonus or overtime getting taxed. Payroll deductions look at the amount and tax it at a rate assuming it is your regular pay. Unless you're getting regular bonuses or overtime, you get the money back in your refund.
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Bingo........We have a winner.
 
aren't bonuses also essentially double taxed for SS and medicare? I know that usually the employer kicks in half the % for SS but I don't think they do this for bonuses.

Of course if you are making over a certain amt (around 97.5k i think?) I know that you don't have to pay SS taxes on income above that, so that would make the point somewhat moot if you have at least 97.5k in income).
 
plumber said:
Are you shopping for a bride? Why do you feel you need to splash your income figures on BARF?:rolleyes

If you are rolling in the money, why do you ride old bikes?
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LMAO, no, that's gross. I own a biz, that's NOTHING at all. There's still all the salary (paying employee) and lines and transports and.... Believe me, my take home was poverty level last year and mostly due to taxes. I only put that figure up to show how much they take from the small business.

Oh, and I ride old bikes partly because I like them and partly because... I'm a broke bastard.
 
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