The Government wants to suck you dry

[chevysoldier]

I guess if you lend someone some money, that should be taxed too.

http://answers.usa.gov/cgi-bin/gsa_ict.cfg/php/enduser/std_adp.php?p_faqid=8878

Whether you are working as a waiter or a camp counselor, you may receive tips as part of your summer income. All income you receive from tips is taxable income and is therefore subject to federal income tax.

Many students do odd jobs over the summer to make extra cash. Earnings you receive from self-employment are subject to income tax. These earnings include income from odd jobs like baby-sitting and lawn mowing.

[Anden]

Not really news there. Its been like that for a long time. The info is just available now. What they didn't tell you is all the crap you get to write off as self employed. If you made $400 you in all reality made a killing.

[cmoosego]

they can suck me, period....

[Disclaimer]

Not really news there. Its been like that for a long time. The info is just available now. What they didn't tell you is all the crap you get to write off as self employed. If you made $400 you in all reality made a killing.

^---- This.

Were you not aware, chevy? You thought tips weren't taxed?

They're rarely claimed, but they're supposed to be.

[that dude]

Fuck em

[serpentracer]

this post just proves you are so young and naive. you should really stop posting these since it's obvious you are uneducated about the subject at hand and you're trolling for argument sake.

they've always taxed your tips. long before you were a twinkle in your daddy's eyes.

oh and guess what, did you know you are supposed to apply for yard sale permits so they can tax your earnings? look it up.

the gov taxes your taxes too. that's why I think it's great so many people stay on unemployment right now. it's a big fuck you to the gov. for years and years people are taxed to death it's about time they get what's rightfully theirs.

Edited August 19, 2010 by serpentracer

[chevysoldier]

^---- This.

Were you not aware, chevy? You thought tips weren't taxed?

They're rarely claimed, but they're supposed to be.

Yeah, I vaguley remeber seeing "tips" on my tax returns, but I have never gotten tips, so I never really thought about it. What really surprised me was the side jobs/summer jobs being taxed. I guess if the kid is 14, can't drink, can't vote he is still expected to pay taxes becuase he mowed the neighbors lawn.

this post just proves you are so young and naive. you should really stop posting these since it's obvious you are uneducated about the subject at hand and you're trolling for argument sake.

they've always taxed your tips. long before you were a twinkle in your daddy's eyes.

oh and guess what, did you know you are supposed to apply for yard sale permits so they can tax your earnings? look it up.

the gov taxes your taxes too. that's why I think it's great so many people stay on unemployment right now. it's a big fuck you to the gov. for years and years people are taxed to death it's about time they get what's rightfully theirs.

Regarding tips, see above.

As far as yard sales, after spending a few minutes, I could not locate this law for state or federal levels, only local levels. So could you please point out where this is written at? Since you are all-knowing I mean.

I can't wait until I am your age so there will be nothing left for me to learn. Must be cool. I Have you not read any of my other posts on here? I'll be the first to tell you I don't know everything. I like debate, I like getting discussions going. It allows me to expand my thinking. Debate is the key to the knowledge. Knowledge is the key to the universe.

I think I'll wait until the next time you post something incorrect and naive. Then I will point it out to you, say your dumb and should quit replying to stuff.

[SAMBUSA]

Moar fear

[chevysoldier]

Oh, and JRMiii rarely see eye to eye on political stuff, but I always do enjoy his posts because he (most of the time) brings useful information to the table and an explanation of why his view is what it is.

[chevysoldier]

Moar fear

:cry:

[Cheech]

^---- This.

Were you not aware, chevy? You thought tips weren't taxed?

They're rarely claimed, but they're supposed to be.

Tips have been taxed for decades upon decades. You are also "supposed" to report what you purchased online to the State of Ohio so they can apply sales tax to that too. This has been happening for years.

Chev, I'm all for increasing discourse, but fearmongering and inflammatory titles like "the government is going to suck you dry" isn't exactly the way to go about doing it, unless you want people to be inflammatory and fearmongering in return.

[chevysoldier]

Tips have been taxed for decades upon decades. You are also "supposed" to report what you purchased online to the State of Ohio so they can apply sales tax to that too. This has been happening for years.

Chev, I'm all for increasing discourse, but fearmongering and inflammatory titles like "the government is going to suck you dry" isn't exactly the way to go about doing it, unless you want people to be inflammatory and fearmongering in return.

Eh, I just wanted to make it something to catch attention.

[serpentracer]

the tax and permit thing are local laws. some places have them some don't.

I found out about it from a neighbor. the city came to their yard sale and asked for their permit. what a fucking crock of bullshit that is. if you have a permit for something like that the tax people know about it. if you have work done they send a person out to do a property tax evaluation. any way they can steal a buck from you they will

[chevysoldier]

the tax and permit thing are local laws. some places have them some don't.

I found out about it from a neighbor. the city came to their yard sale and asked for their permit. what a fucking crock of bullshit that is. if you have a permit for something like that the tax people know about it. if you have work done they send a person out to do a property tax evaluation. any way they can steal a buck from you they will

Cool, I learned something new. I have only had a couple of garage sales myself, and they were all when I was military. No permit needed.

[fusion]

...only if the government is hot, female and swallows.

[dorifto240]

To give a little more credence to the thread title:

If/when the Bush tax cuts expire, when state and local taxes are factored into the equation, certain regions of the country will have tax rates north of 50%.

With a minimum wage job of $7.50 an hour, you actually get to bring home $3.75. Basically that's $120 a week, or roughly $500 a month. Hope you like Aldi's macaroni, and government cheese.

[Cheech]

To give a little more credence to the thread title:

If/when the Bush tax cuts expire, when state and local taxes are factored into the equation, certain regions of the country will have tax rates north of 50%.

With a minimum wage job of $7.50 an hour, you actually get to bring home $3.75. Basically that's $120 a week, or roughly $500 a month. Hope you like Aldi's macaroni, and government cheese.

False equivalence. According to the tax brackets from 2000 (way before the Bush tax cuts), the lowest bracket was 26,250 at 15% tax rate. Ohio tax bracket for the same thing is 2.9%. Local taxes are not really significant at this point, which brings us (not counting FICA and other bullshits) to 18%, or $6.30.

I think the fearmongering you were after is the OMG SOCIALISM!!1!! raise of exactly 4% for those making more than $297,000.

[Disclaimer]

Yea, but that's a big 4%

Seriously. It's like size 24 font.

[Anden]

You guys want to stick it to the goverment. Try to sell one item a month on craigslist/ebay.

You can write off your internet, cellphone, mileage, eBay fees, and take a vacation. You need to take a class for sales while your on it, but the class can be written off too. Sell your friends some shit thentake them to any event (sporting/concert/circus/donkey show) write it off. Building a client base advertising.

Find a good taxman that can work the system. There is a sweet spot in profits ans losses where you get paid by the goverment.

Now go out and be somebody.

[dorifto240]

False equivalence. According to the tax brackets from 2000 (way before the Bush tax cuts), the lowest bracket was 26,250 at 15% tax rate. Ohio tax bracket for the same thing is 2.9%. Local taxes are not really significant at this point, which brings us (not counting FICA and other bullshits) to 18%, or $6.30.

I think the fearmongering you were after is the OMG SOCIALISM!!1!! raise of exactly 4% for those making more than $297,000.

Interesting that you only focused on federal taxes,where you are correct it is only a 4% raise (in a rather large 24pt font).

But again, factoring in all the additional deductions, and other taxes (which we should, since its money out of my pocket). Combined with many states and municipalities raising taxes to help offset budget deficits (in addition to slashing services) That's a serious dent in my take home pay.

But hey, it is what it is. And I'm hardly fear mongering or "OMG Socialism"-ing, unless of course, things like math and big picture thinking are fear mongering...

Edited August 19, 2010 by dorifto240

[tyler524]

I will say this, 20 hours of ot a time and a half gets me $75-100 more bring home which is roughly 10-12% of my overtime wages. I get bumped into a higher tax bracket and get hammered

[Cheech]

Interesting that you only focused on federal taxes,where you are correct it is only a 4% raise (in a rather large 24pt font).

But again, factoring in all the additional deductions, and other taxes (which we should, since its money out of my pocket). Combined with many states and municipalities raising taxes to help offset budget deficits (in addition to slashing services) That's a serious dent in my take home pay.

But hey, it is what it is. And I'm hardly fear mongering or "OMG Socialism"-ing, unless of course, things like math and big picture thinking are fear mongering...

OK, I'll bite. Please, show your work in proving that allowing the current tax cuts to expire will result in a 50% total tax liability on someone earning minimum wage. Surely, someone who has thoroughly researched his point and has done the math leading up to his conclusion would have no problem showing how he got there.

[dorifto240]

OK, I'll bite. Please, show your work in proving that allowing the current tax cuts to expire will result in a 50% total tax liability on someone earning minimum wage. Surely, someone who has thoroughly researched his point and has done the math leading up to his conclusion would have no problem showing how he got there.

Sure. It will take me a few days to pull everything together as I'm going out of town for the weekend. Next week work?

[Disclaimer]

A few days? How about you just give a rough "back of the envelope" estimate that even gets you close with some assumptions before you go through the effort.

I have a feeling the flag will be raised before you have to go through all that. Save us all some time.

[Cheech]

Sure. It will take me a few days to pull everything together as I'm going out of town for the weekend. Next week work?

but you were coming on so strong before! I put together my (apparently) horribly flawed research in about 4 minutes of google searching. Surely you can put together a cliffs notes of reputable sources in, say, 15 minutes. Hell, you just put together your argument 5 hours ago.