Author Topic: Are you "Upper Middle Class"?  (Read 37910 times)

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Offline K-S-U-Wildcats!

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Re: Are you "Upper Middle Class"?
« Reply #125 on: February 01, 2015, 01:38:08 PM »
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?

All right, honestly? My birth certificate lists my religion as "Muslim" because that's what my dad was, I lied on my college admission applications by claiming I was born in Kenya, and I was kind of a shitty student in undergrad, all of which will be pretty embarrassing if I ever run for prez.
I've said it before and I'll say it again, K-State fans could have beheaded the entire KU team at midcourt, and K-State fans would be celebrating it this morning.  They are the ISIS of Big 12 fanbases.

Offline Dugout DickStone

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Re: Are you "Upper Middle Class"?
« Reply #126 on: February 01, 2015, 01:56:19 PM »
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?

All right, honestly? My birth certificate lists my religion as "Muslim" because that's what my dad was, I lied on my college admission applications by claiming I was born in Kenya, and I was kind of a shitty student in undergrad, all of which will be pretty embarrassing if I ever run for prez.

Did you go to Harvard and get picked by a Biglaw?! You'd have a lot less debt

Offline 06wildcat

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Re: Are you "Upper Middle Class"?
« Reply #127 on: February 01, 2015, 02:12:14 PM »
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%

And actually probably lower than that. Hopefully KSU and his wife are maxing out retirement contributions, which is a luxury of having a large income and reduces AGI. Also health insurance premiums are pre-tax money, as is interest on student loans etc.

Offline michigancat

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Re: Are you "Upper Middle Class"?
« Reply #128 on: February 01, 2015, 02:15:21 PM »
He wouldn't get a student loan interest deduction

Offline sys

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Re: Are you "Upper Middle Class"?
« Reply #129 on: February 01, 2015, 02:22:36 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.
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Re: Are you "Upper Middle Class"?
« Reply #130 on: February 01, 2015, 02:58:06 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.

I suppose it's obvious if you think 28+5+7.5=35.

Didn't realize the 190k was AGI when I was doing my ball parking for married no kids. If it was TI, I'd be close.
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Re: Are you "Upper Middle Class"?
« Reply #131 on: February 01, 2015, 03:05:20 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.

I suppose it's obvious if you think 28+5+7.5=35.

Didn't realize the 190k was AGI when I was doing my ball parking for married no kids. If it was TI, I'd be close.

He's hauling around the partridge family, that little detail probably didn't help either. 
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Offline michigancat

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Re: Are you "Upper Middle Class"?
« Reply #132 on: February 01, 2015, 03:30:46 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.

I suppose it's obvious if you think 28+5+7.5=35.

Didn't realize the 190k was AGI when I was doing my ball parking for married no kids. If it was TI, I'd be close.

:lol:

even at 190k of taxable income your estimate would be high, even if you were using the taxable income to calculate the effective rate  :lol:

Offline sonofdaxjones

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Re: Are you "Upper Middle Class"?
« Reply #133 on: February 01, 2015, 03:33:16 PM »
This thread  :lol:

Offline 06wildcat

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Re: Are you "Upper Middle Class"?
« Reply #134 on: February 01, 2015, 03:36:56 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.

I suppose it's obvious if you think 28+5+7.5=35.

Didn't realize the 190k was AGI when I was doing my ball parking for married no kids. If it was TI, I'd be close.

:lol:

even at 190k of taxable income your estimate would be high, even if you were using the taxable income to calculate the effective rate  :lol:

HE'D BE CLOSE DAMN IT

Offline Bloodfart

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Re: Are you "Upper Middle Class"?
« Reply #135 on: February 01, 2015, 05:57:15 PM »
The best threads happen in the darnedest places. 

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Re: Are you "Upper Middle Class"?
« Reply #136 on: February 01, 2015, 08:10:37 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.

I suppose it's obvious if you think 28+5+7.5=35.

Didn't realize the 190k was AGI when I was doing my ball parking for married no kids. If it was TI, I'd be close.

:lol:

even at 190k of taxable income your estimate would be high, even if you were using the taxable income to calculate the effective rate  :lol:

If you think 21.29% isn't even close to 22.5%, I suppose.
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Offline michigancat

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Re: Are you "Upper Middle Class"?
« Reply #137 on: February 01, 2015, 08:42:58 PM »
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 mean, i haven't done the calculations, but your numbers are significantly off.  so i made the obvious assumption.

I suppose it's obvious if you think 28+5+7.5=35.

Didn't realize the 190k was AGI when I was doing my ball parking for married no kids. If it was TI, I'd be close.

:lol:

even at 190k of taxable income your estimate would be high, even if you were using the taxable income to calculate the effective rate  :lol:

If you think 21.29% isn't even close to 22.5%, I suppose.
:lol:

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Re: Are you "Upper Middle Class"?
« Reply #138 on: February 01, 2015, 09:02:43 PM »
The butthurt and desperation from michigancat is quite awkward

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Offline michigancat

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Re: Are you "Upper Middle Class"?
« Reply #139 on: February 01, 2015, 09:11:27 PM »
:lol:

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Re: Are you "Upper Middle Class"?
« Reply #140 on: February 01, 2015, 09:15:22 PM »

Michigancat: how big is your yard?
Rando BBS guy: about 1/3 of an acre
MC: [enraged jealousy] that's impossible!
RBBSG: checked my survey, it's 14,080 sq/ft
MC: I told you you weren't even close [awkward laughter, false sense of vindication, penis becomes innie]
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Re: Are you "Upper Middle Class"?
« Reply #141 on: February 01, 2015, 09:16:09 PM »
This a dax style meltdown omg
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Re: Are you "Upper Middle Class"?
« Reply #142 on: February 01, 2015, 09:17:27 PM »
Lol

Offline star seed 7

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Re: Are you "Upper Middle Class"?
« Reply #143 on: February 01, 2015, 09:18:46 PM »
wowowow
Hyperbolic partisan duplicitous hypocrite

Offline steve dave

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Re: Are you "Upper Middle Class"?
« Reply #144 on: February 01, 2015, 09:18:58 PM »

This a dax style meltdown omg

Dax doesn't become enraged

Offline Dr Rick Daris

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Re: Are you "Upper Middle Class"?
« Reply #145 on: February 01, 2015, 09:24:25 PM »
This a dax style meltdown omg

yes, very embarrassing for fsd. not as embarrassing as k-s-u who has an entire herd of children that will be milking our public school system for the next eighteen years while he complains about having to pay for it through taxes, but still embarrassing.

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Re: Are you "Upper Middle Class"?
« Reply #146 on: February 01, 2015, 09:25:45 PM »
Speaking of herd, here comes the sheep
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Offline Rage Against the McKee

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Re: Are you "Upper Middle Class"?
« Reply #147 on: February 01, 2015, 09:28:44 PM »
 The people really screwed by the tax system are the middle class people with no kids.

Offline michigancat

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Re: Are you "Upper Middle Class"?
« Reply #148 on: February 01, 2015, 09:47:16 PM »
I will say that this thread shows that if a college graduate doesn't understand how to calculate their effective tax rate, the system is probably too complicated.

Offline slobber

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Re: Are you "Upper Middle Class"?
« Reply #149 on: February 01, 2015, 10:05:30 PM »
I have a friend (non-Canadian) who makes between $400 and $500 thousand dollars/year and he thinks taxes are "way to eff'n high." He has actually said that to me on a couple of occasions. Is he not telling me the truth?

The main problems I have with taxes are waste and the entitlement mentality of basically every American (even me!), but I don't think that is what this thread is about.