/biz/ - Business & Finance

[Anonymous No.16245376]

Redpill me on lowering taxes (USA).

I am giving up 38% of every paycheck, how is this allowed?

[Anonymous No.16245577]

>>16245376
Burgerland is one of the last nations with widespread gun ownership and they STILL pay 30%+
It’s only going to get worse from here kek

[Anonymous No.16245646]

>>16245577
Literally nobody is paying 30%.

[Anonymous No.16245708]

>>16245376
What state do you live in and how much do you make? Are you counting social security and medicare in that 38%?

[Anonymous No.16245793]

>>16245646
>he fell for the 401k reduces your taxes meme
You will never see a meaningful return and you are basically planning for failure as a state dependent by wagering your energy for some illusion that is 50 years away

[Anonymous No.16245812]

>>16245376

What's your income? We have to know if you're a poor man complaining about being robbed or a rich man complaining about minor inconveniences.

[Anonymous No.16245830]

>>16245708
Virginia, making 130k.
And I counted everything, including all federal and state taxes plus 401k. Without 401k it's more like 35%, which still seems absurd though

[Anonymous No.16245875]

>>16245830
Do you get a big tax refund every year? I'm in Washington (no state income tax), make about $145k and my take home is about 26% less than my gross. And I usually get a decent tax refund each year. Even with your state income tax, you shouldn't be paying that much.

[Anonymous No.16245889]

[Anonymous No.16245917]

could be worse

[Anonymous No.16246985]

>>16245917
>55k in taxes
Jesus Christ.

[Anonymous No.16247021]

>>16245917
This is fucking theft

[Anonymous No.16247055]

THERE WAS NO INCOME TAX AT ALL PRIOR TO THE 1910's



…



INCOME TAX WAS CREATED BY RICH KIKES WHO DIDNT WANT THEIR PRODUCTS GETTING TARIFF'D, TARIFFS WERE THE PRIMARY SOURCE OF GOVERNMENT INCOME PRIOR, THE TRADEOFF WAS TO JUST TAX INCOMES. RICH PEOPLE DONT HAVE FUCKING W2'S.



Trump 2020

[Anonymous No.16247088]

>>16246985
>>16247021
that's just federal of course. there are state taxes which vary - mine is 6%. then payroll taxes which are 6.2% for social security and 1.5% for medicare. at the end of the day most people are paying a 3rd (or a little under) of their income in taxes in the US. but like i said, could be worse.

[Anonymous No.16247106]

>>16246985
>>16247021
who else is gonna pay for the welfare of old/sick
people and niggers?

[Anonymous No.16247157]

>>16247055
Had me til the last line. If voting changed anything it would be illegal.

[Anonymous No.16247335]

>>16245793
tell that to my grandpa who retired with his vanguard fund with a whopping 5.3 MILLION dollars.
he was a radiologist.

[Anonymous No.16247353]

>>16245793
>dude why bother its all doom and gloom

>have option of 100% chance to fail
>have option to 50% chance of failing by simply attempting it

just blow your brains out my dude, you're retarded

[Anonymous No.16247360]

>>16245376
Literally no one is paying 38% unless you are earning 1m a year or living in commiefornia.

[Anonymous No.16247383]

>>16245646
I play close to that when you add my medical premium
Single with one exemption and get paid well

For OP
You can claim more exemptions which you will pay for when you file taxes annually
You can get married and have children
You can start a business, make it a losing business and claim losses which would offset you income
Or you can buy real estate and there you have plenty of options to get returns not only not pay taxes
>t. Corporate accountant

[Anonymous No.16247938]

>>16247335
Kek boomer outcomes are irrelevant I’m talking about the future of someone who is in the game right now falling for muh 401k fantasy that will unfold multiple decades from now.
>>16247353
I’m not saying doom and gloom. Maybe we just different see things different. For me, even if I was guaranteed that I would make it more than 20 years from now I would kms. Making it when you are old and low energy is pointless, anyone who says otherwise is high af on copium.

[Anonymous No.16248050]

>>16245376
trump and republicunts had 2 years of total control and they gave the rich a huge tax cut and you the cum drippings. How that cum taste cuck

[Anonymous No.16248065]

>>16248050

Better vote for people who will literally just raise your taxes

[Anonymous No.16248106]

>>16247360
I don't mean just income tax, I mean income + social security + state + misc taxes

[Anonymous No.16248123]

>>16248065
>>16248050
or instead of blaming the other side, we could all come together and vote for Andrew Yang who will not raise your taxes and will instead give you $1000/month until you retire, and then he'll keep giving you $1000/month until you die.
YOU LIKE THAT YOU LITTLE BITCH

[Anonymous No.16248131]

>>16248106
Literally impossible. Larp harder.

[Anonymous No.16248162]

>>16245793
Lolwut? Do you know what a retirement investment account is supposed to be?

[Anonymous No.16248164]

>>16245376
it hurts every paysub. the world is just one giant ponzi scheme.

[Anonymous No.16248167]

>>16248123

Good joke. Andrew Yang is totally going to conjure $1,000/month for all 300 million people in the US out of thin air and with no additional taxes whatsoever. Furthermore, that isn't going to boost inflation incredibly, rendering the entire thing moot.


Time to have a glass of cyanide, anon.

[Anonymous No.16248196]

Literal theft.

The libcucks single out wealth because it's the one thing they can feasibly rob from somebody else to make themselves feel like less of failures. If it were possible to make tall men short or smart men dumb, I have no doubt theyd be clamoring for them to give up their unearned height and wits as well

[Anonymous No.16248205]

>>16248167
He answers all of these points, people always bring up these exact same points and it's clear they haven't read about UBI at all.

Just read!

https://www.yang2020.com/what-is-freedom-dividend-faq/

[Anonymous No.16248222]

>>16248196

Well, they did invent a word to rob people of the satisfaction of it or their self esteem, it's called "privilege". Privilege this or privilege that.

>>16248205

No thanks moron. Time to get a job and stop voting for other people's money.

[Anonymous No.16248232]

>>16248222
i make $150,000/year as a software developer. what do you do that you make more money than me?

[Anonymous No.16248248]

>>16248232

No you don't, or else you wouldn't be clamoring for an extra $1k/month like a pitiful little retard

[Anonymous No.16248253]

>>16248162
You mean aside from a laughably horrible way to try and save for your older years, compared with a pension?

[Anonymous No.16248257]

>>16248222
low iq retard

[Anonymous No.16248266]

>>16245917
>he took the standard deduction

[Anonymous No.16248278]

>>16248248
i do, and in fact I *still* could use an extra $1000/month. Why do you keep moving goalposts?

>UBI is stupid! Kill yourself!
No it's not, here's the facts
>Shut up Moron! Get a job!
I have a job and make a shitload of money
>N-no you dont! Stop Lying!
Ok

I guess just keep living your Trumpian lifestyle my guy. I'll live the Yang lifestyle

[Anonymous No.16248320]

>>16248278
>i do, and in fact I *still* could use an extra $1000/month. Why do you keep moving goalposts?

That's... not what "moving goalposts" means. I'm responding to you.

You don't make a shitload of money. $150k a year is 12.5 a month gross, around 10 net. There isn't a person on the planet making that kind of money that can't see through Yang's bullshit and the fact that it would be a net loss for any individual earning decent money, since they will be footing the bill.

Go ahead and live the Yang lifestyle. In mommy's basement, surrounded by empty bags of taco bell and pizza boxes.

[Anonymous No.16248339]

>>16245793
>illusion that is 50 years away
except for the people retiring now right?

[Anonymous No.16248351]

>>16248222

You sound like a collosal faggot

[Anonymous No.16248359]

>>16248320
well, it's a shit load of money for me, and i didnt work my ass through 2 engineering degrees by spouting insults at other people and being wrong about things. This is my final reply, good luck to you; you'll need it

[Anonymous No.16248373]

>>16245917
your itemizing game is weak as fuck

stop paying the standard deduction nigger.
Deduct your local income taxes and property taxes.
Deduct your miles spent on driving to/from work.
Deduct your mortgage debts.
Buy a home office, then deduct $1500 a year for it.

You need to learn how to play the game if you wanna have lots of money.

[Anonymous No.16248379]

>>16248359

Good luck to me? My man your candidate isn't even polling at fucking 2% within his own Party. You're a retard on multiple levels.

[Anonymous No.16248404]

>>16245875
Your tax refund should only be about $12k, unless you're a good itemizer.

[Anonymous No.16248419]

>>16248248
Are you saying you don't want an extra 1000 a month?

[Anonymous No.16248420]

>>16247088
you can deduct state taxes if you itemize.

[Anonymous No.16248443]

>>16248065
>>16248123
>>16248167
>>16248196
>>16248205
>>16248222
>>16248232
>>16248248
>>16248257
>>16248278
>>16248320
>>16248359
>>16248379
40,000 keks this has been a satisfying thread

[Anonymous No.16248446]

>>16248419
imagine thinking it's a good idea to increase the amount of $$$ in the marketplace when that will drive inflation sky fucking high.

fun fact, the more money is circulating in the economy, the quicker it loses its value, until we reach the same point we're at again because nothing has fucking changed except that the baseline for dollars has been adjusted higher.

The root of the problem is labor & work. The market for low-skill labor is over-saturated. We let women into the workforce and doubled it, and since then wages have stagnated as supply has been too high.

$1000 a month doesn't mean anything when an economy is made of goods and services. Nothing about it will fix the core problems of the job market in the US

[Anonymous No.16248459]

>>16248419

When you grow up, and start rationalizing the world you'll realize that is merely a code word for "you're going to be paying that back in taxes/inflation"

If you're making $100k, this will A L W A Y S be a bad choice. There are millions and millions of people on welfare and minimum wage who will take that money and pay nothing back into the system. So guess who's paying? YOU

YOU YOU YOU

>b-but no anon, his official campaign website says they're going to be growing the money on farms in Ida-

YOU. YOU.

[Anonymous No.16248462]

>>16248446
UBI is a good idea but you did diagnose the problem
Work is becoming more and more high-skill and technical, and the majority of Americans are rednecks, uneducated, or even normal people who can’t keep up. So low skill jobs are over saturated and underpaid.
What’s the solution? Literally the only thing would be “more school so everyone can be high skilled”, but even that will have its day

[Anonymous No.16248488]

>>16248462
the solution is probably a cultural one.

The younger generations have less of a stomach for labor than the ones prior. There's plenty of room for blue collar work. The other day, I was talking with an audit manager for a landscaping company, and they said one of the biggest challenges to ensuring their business stays alive is that they find new workers. It pays well, but not so many people are specializing in physically demanding labor.

That and we have a college system that kids are being pushed into at a young age that wastes 4 years of their life when 2 years or even less is all they really need. 50% of people who go to college drop out because of how fucking long it takes, how much time it wastes, how much money it costs, and how much unnecessary bullshit is attached. Of the remaining 50% of college students who will graduate, half of them will have a degree in something utterly fucking worthless.

So that's 25% of the college population achieving the potential to BEGIN to compete in the higher workforce, and underpopulation of blue collar workers for them to manage.

[Anonymous No.16248517]

>>16245577
And we won't fight back.

[Anonymous No.16248552]

>>16247088
Let's not forget sales tax when you actually decide to spend your money.

[Anonymous No.16248621]

>>16248446
Not just women. The US has been flooded with literal tens if not hundreds of millions of shitskins over the past 60 years.

[Anonymous No.16249305]

>>16247106
And single moms.

[Anonymous No.16249349]

I meant to go to the payroll office today and go exempt for the rest of the year.

[Anonymous No.16249363]

>>16245376
You're giving up more than that gayboy.
1) Income tax
2) Consumption taxes
3) Property taxes (if applicable)
4) Cap. Gains Tax
5) ect.

The biggest two being income and consumption. You end up paying around 50% or so.

[Anonymous No.16249453]

>>16245376
Fuck taxes. The government is too fucking inept to do shit now anyway and will probably reboot soon.

[Anonymous No.16249469]

>>16247335
>grandpa
retard.. shit is no longer the way it used to be. No no no.

[Anonymous No.16249484]

>>16248065
Where do you think that money comes from retard?

[Anonymous No.16249512]

>>16248359
It’s a lot to you because you probably got fucked on student loans and don’t make very much.

[Anonymous No.16249554]

>>16245793
401k is a pyramid scheme that relies on young workers to pay for the old.

[Anonymous No.16249557]

>>16245376
>how is this allowed?
look up tax avoidance you stpuid ffaggot

[Anonymous No.16250095]

>>16245708
>Forced to pay huge amount out of every paycheck into giant insolvent welfare scam
>Doesn't count as a tax
>It's for your own good!