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View Diary: Making it work on $250k/yr (90 comments)

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  •  Steele specifically said 250k adjusted gross (1+ / 0-)
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    Roger Fox

    which is what set me off. That's after deducting mortgage interest and state taxes. No payroll taxes after $110k. Tuition and retirement savings would also lower the tax bill

    Car repairs and insurance, home repairs, utilities, aging parents, child care, college expenses?? We almost all (98%) struggle with those.

    To me, it's not about being "hateful" (Roger Fox) towards the fortunate, affluent, rich or idle rich, however you want to describe them. It's about being invisible to them.

    •  AGI (1+ / 0-)
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      Be Skeptical

      If you think about it, "gross" can't be after deductions.  Because after deductions would be net, which is the opposite of gross.

      By inspection of Form 1040, AGI is the last number on page 1, carried over as the first number on page 2, and all of the deductions come after that on page 2.

      Ultimately, tax is calculated on (go figure) taxable income.

      "They let 'em vote, smoke, and drive -- even put 'em in pants! So what do you get? A -- a Democrat for President!" ~ Faster, Pussycat! Kill! Kill!

      by craiger on Mon Dec 10, 2012 at 10:28:23 PM PST

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    •  Invisible yes.... good point. (0+ / 0-)

      FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Tue Dec 11, 2012 at 12:10:25 PM PST

      [ Parent ]

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