$53,000

[Apple Of Sodom]

Poor Apple of Sodom, you have it so rough.

It isn't that it is so rough...It is that I work very hard only to see massive amounts of money drained from my account without nary a thank you from those rolling around on Cadillac Escalades while they organize their food stamps.

 

[preslove]

It isn't that it is so rough...It is that I work very hard only to see massive amounts of money drained from my account without nary a thank you from those rolling around on Cadillac Escalades while they organize their food stamps.

Social Security, Medicare, Medicaid, and the military make up VAST majority of the federal budget. Welfare is a drop in the bucket and most people can't get more than a year of food stamps because of welfare reform.

If you want to yell at someone in frustration, go to a nursing home.

 

[Apple Of Sodom]

You poor man. How can you live without those things?

I mean seriously, I'm glad that you live in a society that makes your earnings possible, and I'm glad that you pay your taxes just like (almost) every other fucking working mope out there.

You know what? Making what you make, you could vacation for 12 weeks a year in Fiji. You choose not to, for reasons that are perfectly reasonable to you. You could sleep on a mattress stuffed with hundreds. You choose not to. So go cry somewhere else, would you?

I wasn't crying. Please see where I said I am proud.

I was stating that I don't do those things because there seems to be this notion that the top .01 somehow live lavish lifestyles. We are being crucified by the media and everyone else saying it is unfair that we make what we make. It is all painted with such a broad brush. That isn't the case at all. Maybe the top .001 do, but not me. And I cannot go to Fiji for 12 weeks vacation because I am a business owner and the sole employee. I'm in demand and a 12 week sabbatical would ruin my business. I do want to hire someone, but GOOD IT talent don't always go hand-in-hand with good attitude/personality.

 

[Powermoloch]

It isn't that it is so rough...It is that I work very hard only to see massive amounts of money drained from my account without nary a thank you from those rolling around on Cadillac Escalades while they organize their food stamps.

How often you see people collecting food stamps with their Escalades lol. It may be a tiny portion compared to the other folks who really need food stamps.

 

[shocksyde]

My Amex black card HAS A BLACK CARD. My butler HAS A BUTLER.

 

[Apple Of Sodom]

Social Security, Medicare, Medicaid, and the military make up VAST majority of the federal budget. Welfare is a drop in the bucket and most people can't get more than a year of food stamps because of welfare reform.

If you want to yell at someone in frustration, go to a nursing home.

This is true. What if we got the eldery to join the military? Eh?

We can all agree the government spends money on stupid things. The point of this thread was to let you know that the evil top 1% are sometimes your next door neighbor or friend and you might not have any idea at all. And being at the bottom of the top 1% isn't all opulence.

 

[Saint Nick]

You must be a consultant?

 

[masterxfob]

i think i'll drive my ferrari down to my matching yacht and go on a 12 week vacation to fiji.

 

[silverpig]

Without the bottom 99%, you wouldn't be in the top 1%.

Imagine working that hard and making $35k a year. You work hard and your biggest worry is how much to put into your IRA to reduce your payable taxes. Others work hard and worry if they can feed their kids.

 

[dank69]

This is true. What if we got the eldery to join the military? Eh?

We can all agree the government spends money on stupid things. The point of this thread was to let you know that the evil top 1% are sometimes your next door neighbor or friend and you might not have any idea at all. And being at the bottom of the top 1% isn't all opulence.

Stop spending all your money on miniature giraffes!

 

[Beev]

You know what's really awesome? Seeing drug dealers get welfare checks since they presumably make no income. That's pretty irritating.

 

[Apple Of Sodom]

Without the bottom 99%, you wouldn't be in the top 1%.

Imagine working that hard and making $35k a year. You work hard and your biggest worry is how much to put into your IRA to reduce your payable taxes. Others work hard and worry if they can feed their kids.

Meh. Then they aren't working smart. Or they didn't prioritize money and try to attend college. Or shouldn't have had kids. Or should've made different choices in life.

 

[rivan]

It isn't that it is so rough...It is that I work very hard only to see massive amounts of money drained from my account without nary a thank you from those rolling around on Cadillac Escalades while they organize their food stamps.

Just like every other working mope on this board.

I hate the welfare drains too - don't get me wrong. I just tend to think your proclaimed top 1% company tends to graft just as much out of the system (either via tax evasion/obfuscation or by bilking investors) as the welfare gang does.

Like these guys:
http://www.stltoday.com/business/article_afe92660-e84a-527d-adf6-ed0c422919fc.html

Or this guy:
http://www.allbusiness.com/legal/trial-procedure-jury-trial/14277583-1.html

Or these guys:
http://www.sec.gov/news/press/2002-110.htm

Or these guys:
http://www.aigcorporate.com/GIinAIG/owedtoUS_gov_new.html

Or these guys:
http://www.spiegel.de/international/europe/0,1518,676634,00.html

I'm not implying anything about your integrity - you sound like a legitimately pissed off taxpayer. But if nothing else, you certainly make enough to hire yourself an excellent accountant to do those taxes for you, finding most or all of the shelter you've got available to you. That's not something the vast majority of the other "99%" of us have.

 

[dullard]

Without the bottom 99%, you wouldn't be in the top 1%.

Imagine working that hard and making $35k a year. You work hard and your biggest worry is how much to put into your IRA to reduce your payable taxes. Others work hard and worry if they can feed their kids.

Exactly. The OP should be happy. The typical farmer works far harder than most people. Yet, they often earn $60k or less per year (after subsidies). Think of a farmer with a herd of animals. They don't wait for you when you go on a weekend trip - they need to be fed daily. The OP can at least go away to Fiji on weekends. A farmer often can't even go 500 miles away on a weekend.

Note: they do often retire wealthy though after building up their business for a lifetime.

 

[Apple Of Sodom]

You know what's really awesome? Seeing drug dealers get welfare checks since they presumably make no income. That's pretty irritating.

True, true. My sister-in-law has a friend who grows medical marijuana, but grows more than allowed. They show very little income and have a pesky problem of laundering the money from what I hear. Allegedly they have a couple hundred thousand buried in cans in their yard. Problem is, if they start spending it on legit shit (homes, cars) then the IRS will get wise and audit them...

 

[CPA]

That is the magic number. That is what I owe the tax man. That is in addition to the $40,000 I already paid. That is after I've completely maxed out my deductions, fully funded my SEP-IRA and have done everything legal to lower my income liability.

I'm at the bottom of the top 1% of earners. I'm the 1% that everyone rallies against as controlling all the wealth. Funny thing is... I make a lot because I work hard, run the risk of owning a business, and sacrificed to get my masters degree. And for the other 99% let me tell you...it isn't THAT great being in the top 1%. I don't get any help. I don't get subsidies. I basically get to work. And while I don't have to worry about money and can afford generally nice things, I don't have the ability to go out and buy a Ferrari to color match a yacht. I don't vacation for 12 weeks in Fiji. I don't sleep on a mattress stuffed with hundred dollar bills.

So, this thread is dedicated to those who have earned their income the hard way - with blood, sweat and tears - and to say fuck you for anyone who says we don't deserve it. I am proud to say I am paying $100,000 into the system this year; I am proud to contribute to society, even though I disagree with the way government spends money; and I'm proud to be in that EVIL 1%.

I applaud you, sincerely.

 

[SunnyD]

Without the bottom 99%, you wouldn't be in the top 1%.

Imagine working that hard and making $35k a year. You work hard and your biggest worry is how much to put into your IRA to reduce your payable taxes. Others work hard and worry if they can feed their kids.

This.

Meh. Then they aren't working smart. Or they didn't prioritize money and try to attend college. Or shouldn't have had kids. Or should've made different choices in life.

Wow, you ARE an asshole. Amazing what money does to people.

 

[her209]

For the lulz
http://forums.anandtech.com/showpost.php?p=31118300&postcount=51

I will probably owe around $15K. It is hard for me to gauge my quarterly payments as my side business is somewhat unpredictable. I will have to squirrel away about $40K into a SEP-IRA which will drop my tax liability and save me $10K.

People - let me reiterate that the money you are getting back was yours to begin with. The name of the game is to get to as close to $0 in a refund as possible. Paying $1 is better than getting $5,000 refund because you loaned the government that money interest free.

Although I hate how our government spends money, I am proud to be a tax paying citizen, the likes of which this country wouldn't be as great as it is.

 

[AstroManLuca]

This is true. What if we got the eldery to join the military? Eh?

We can all agree the government spends money on stupid things. The point of this thread was to let you know that the evil top 1% are sometimes your next door neighbor or friend and you might not have any idea at all. And being at the bottom of the top 1% isn't all opulence.

I see two major problems:

People confuse the top 1% with ultra-rich bankers and oil execs (more like the top 0.01% or something). I don't think there's a lot of outrage against people who make a few hundred grand a year. It's the guys who get millions and millions of dollars and then act like they deserve government bailouts. The guys who run their companies into the ground, make obviously bad decisions that cost thousands of people their jobs, and ride home on a golden parachute.

The other is that a lot of very rich people are perfectly willing to pay a large portion of their income in taxes, with many even outright saying that they SHOULD be paying more. The outrage should be directed at Congress for passing tax cuts that benefit the ultra-rich more than anyone else in the name of job creation. The economic benefits of such cuts are often outweighed by the problems they introduce (namely, larger deficits).

I appreciate that you pay your taxes like (almost) everyone else. What I hate is when I see billionaires like Larry Ellison whine about their taxes until they get a break.

 

[BlahBlahYouToo]

Without the bottom 99%, you wouldn't be in the top 1%.

not true. i could do without the leeches of society that contribute nothing and are a drain to the US.

 

[Apple Of Sodom]

I'm not implying anything about your integrity - you sound like a legitimately pissed off taxpayer. But if nothing else, you certainly make enough to hire yourself an excellent accountant to do those taxes for you, finding most or all of the shelter you've got available to you. That's not something the vast majority of the other "99%" of us have.

I think people should be proud to contribute to society. While I will occasionally deduct a business lunch, or go on a business trip (deductible) and tack a vacation on it, I generally don't think it is ethical to find tax shelters. And for how much savings? Say I save $50K/year...is it worth the headache and constant worry? I don't think it would be.

Paying taxes is like giving money to your kids. I don't mind doing it, but goddammit I wish it went to something useful. I *hate* when I give my 7 year old an allowance and she buys something completely stupid and worthless (her latest purchase was a rubber chicken that you would squeeze and a gel filled egg would pop out...so stupid!) I hope she makes a good decision and buys a book, or even a game, but end up with candy and a stuffed animal.

Same with government. I go "here is a bunch of money...what are we gonna do with it?" and the government is like "We're gonna bomb the shit outta Libya! Thanks!" Fuck, I'd rather them buy every citizen a rubber chicken with gel egg than bomb a country I don't give a fuck about.

 

[Apple Of Sodom]

For the lulz
http://forums.anandtech.com/showpost.php?p=31118300&postcount=51

Yeah...I didn't realize my wife actually made money in her side business too and didn't pay quarterly. And I ended up making quite a bit more than I did the year before. I fucking wish it was $15K...way for me to be way off... oh well.

 

[CPA]

Without the bottom 99%, you wouldn't be in the top 1%.

Imagine working that hard and making $35k a year. You work hard and your biggest worry is how much to put into your IRA to reduce your payable taxes. Others work hard and worry if they can feed their kids.

So what? Why does he have to imagine making less? What good is that? And why should he feel guilty if someone else hasn't elevated themselves?

 

[AstroManLuca]

So what? Why does he have to imagine making less? What good is that? And why should he feel guilty if someone else hasn't elevated themselves?

He's just saying quit whining.

 

[Apple Of Sodom]

This.

Wow, you ARE an asshole. Amazing what money does to people.

Why does that make me an asshole? Do you know how much I had to sacrifice in order to get where I am today? I see people all around me refusing to work while going to college, refusing to work more than one job, etc. We are products of our choices. You don't agree?