Are you "Upper Middle Class"?

[Dr Rick Daris]

just take a step back and look at it for what it is. this dumb mother rough rider had four kids and spends so much money that his spouse is forced to work while they pay some stranger to raise their children. 'merica. smdh because if it's not some idiot living off welfare in a double wide, it's morons like this jackass living in some above his means, non descript, joco beige four bedroom stressing out about his tax rate and whether or not he'll get his bonus in time to enroll little madison in dance class. two sides of the same idiot coin as far as i'm concerned.

[star seed 7]

Having 4 kids seems like a very narcissistic thing to do

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

Why is social security mandatory?  For 6.6% of my income I get a terrible disability policy (FMV $40 per month) and an even worse annuity (FMV 1% of my income). Seems like this should be optional, OR maybe require everyone to participate in the public plan or buy into a "qualifying plan" and tax anyone who doesn't . . .since that's legal now.

[michigancat]

You've unequivocally been proven wrong that someone making 190k would not pay 40% in taxes. Hence the, "living above your means" nonsense.

I imagine is possible for someone single, but not for a married household in Kansas.

In kansas, a married person who makes $190k (in entirely w-2 income) is at 35% before you even take into consideration property and sales tax... and the AMT.

No they aren't.

They don't even get to 35% of AGI

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

You've unequivocally been proven wrong that someone making 190k would not pay 40% in taxes. Hence the, "living above your means" nonsense.

I imagine is possible for someone single, but not for a married household in Kansas.

In kansas, a married person who makes $190k (in entirely w-2 income) is at 35% before you even take into consideration property and sales tax... and the AMT.

No they aren't.

They don't even get to 35% of AGI

If you ignore fica

[wetwillie]

Why is social security mandatory?  For 6.6% of my income I get a terrible disability policy (FMV $40 per month) and an even worse annuity (FMV 1% of my income). Seems like this should be optional, OR maybe require everyone to participate in the public plan or buy into a "qualifying plan" and tax anyone who doesn't . . .since that's legal now.

Yea this is what I was referring to.  I'm not even against a compulsory retirement system, just that the current one is grossly negligent in the return on investment it provides. 

[michigancat]

You've unequivocally been proven wrong that someone making 190k would not pay 40% in taxes. Hence the, "living above your means" nonsense.

I imagine is possible for someone single, but not for a married household in Kansas.

In kansas, a married person who makes $190k (in entirely w-2 income) is at 35% before you even take into consideration property and sales tax... and the AMT.

No they aren't.

They don't even get to 35% of AGI

If you ignore fica

No, including fica.

[Cire]

Having four kids in a scenario where you are worried about money seems super irresponsible

[wetwillie]

Having four kids in a scenario where you are worried about money seems super irresponsible

He's not worried about money, he is just angry that some of it goes where he doesn't want it to.

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

Having four kids in a scenario where you are worried about money seems super irresponsible

The type of people that deserve tens of thousands of dollars in government benefits.

[Cire]

Farmers?

[michigancat]

Having four kids in a scenario where you are worried about money seems super irresponsible

He's not worried about money, he is just angry that some of it goes where he doesn't want it to.

More accurately, he is primarily concerned with tax rates at HIS particular income level. Which was mentioned in the piece in the original post.

[sys]

In kansas, a married person who makes $190k (in entirely w-2 income) is at 35% before you even take into consideration property and sales tax... and the AMT.
 If they are SE it's over 42%

you're confusing marginal rates with overall rates.

[steve dave]

Everyone always confuses marginal with overall and it's aggravating because it's not a difficult thing to understand

[06wildcat]

KSU also only provided AGI, which makes tough to even estimate an effective tax rate.

My AGI in 2013 was about $10,000 less than gross. Actual taxable income was about $25,000 less than AGI.

My effective FIT on AGI last year was 7.1 percent. On gross it's about 6.2 percent.

[Dugout DickStone]

For me, the greater my income has been, the less I've worried about taxes. These days, I just know there's crap that goes into accounts and crap that comes out and I don't pay much attention to any of it. And that always makes me think that people who claim to be upper middle class and talk about taxes are lying about their income.

This.  Make more if paying taxes really straps you.

[Dugout DickStone]

k-s-u-Wildcats- how much money does your household make in a year and how many kids do you have?

AGI of around 190 (haven't done taxes yet), 4 kids, 37. Why do I care?

If that's it, have wife stay home with kids and save money because she is costing

[Fake Sugar Dick (WARNING, NOT THE REAL SUGAR DICK!)]

In kansas, a married person who makes $190k (in entirely w-2 income) is at 35% before you even take into consideration property and sales tax... and the AMT.
 If they are SE it's over 42%

you're confusing marginal rates with overall rates.

No. JFC, it's so obvious that's not the case.

I ball parked a 22.5% effective tax rate for someone in the 28% tax bracket. Added 5% for state income tax and 7.5% fica, voila 35%.

I'm sorry if I'm off 1-2%, you rough ridin' morons.  Michigancat is just butthurt and acting like a baby, and you eff faces are only encouraging him.

[star seed 7]

Lol

[wetwillie]

In kansas, a married person who makes $190k (in entirely w-2 income) is at 35% before you even take into consideration property and sales tax... and the AMT.
 If they are SE it's over 42%

you're confusing marginal rates with overall rates.

No. JFC, it's so obvious that's not the case.

I ball parked a 22.5% effective tax rate for someone in the 28% tax bracket. Added 5% for state income tax and 7.5% fica, voila 35%.

I'm sorry if I'm off 1-2%, you rough ridin' morons.  Michigancat is just butthurt and acting like a baby, and you eff faces are only encouraging him.

AGI 190,000
Exemptions (6 X 4,000) 24,000
Standard Deduction ( 12,400)

154k taxable income

estimated taxes 31K

31k/190k = 16% effective FIT

And the chances that KSU takes a standard deduction is approximately 0.  So my guess is that his effective FIT rate is closer to like 12%

[Dugout DickStone]

Now do if his wife quit her 45k job

[K-S-U-Wildcats!]

All this speculation has really been quite amusing. But really the best replies are more the flavor of "quit bitching about paying at least a third if your income in taxes and just 'live within your means.'" How very progressive of you.

Ironically, I didn't even start this thread to complain about relatively high level of taxation. I was just intrigues by the editorial - which most of you probably didn't bother reading - complaining about the "upper middle class" being the problem.

[Dugout DickStone]

I hate paying the taxes I do ftr but know the only way to bring home more is to grow my business not change the tax code.

[michigancat]

Ironically, I didn't even start this thread to complain about relatively high level of taxation. I was just intrigues by the editorial - which most of you probably didn't bother reading - complaining about the "upper middle class" being the problem.

Ironically, your first post was both a loose example of one of the author's complaints about your peers while also being confused as to what his complaints were

[Kat Kid]

The real question is why KSUW hasn't released his long form birth certificate, college transcripts, student loan paperwork and his full medical records. 

WHAT ARE YOU HIDING KSUW?