SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Alighieri who wrote (397442)7/9/2008 3:00:26 PM
From: michael97123  Read Replies (1) | Respond to of 1588365
 
yes, and if you itemize as most high earners do, you are not making stuff up. It needs to be documented. And for itemized deductions the value of those deductions goes down as your gross goes up. I suffer thru this process every year. I take whats legal and i still pay 50% in a good year.



To: Alighieri who wrote (397442)7/9/2008 6:13:22 PM
From: i-node  Read Replies (1) | Respond to of 1588365
 
Many of the "deductions" you're talking about are phased out at high income levels.

300K being high, certainly.

But all this is beside the point. When you talk about adding 5 or so percentage points to the flat FICA/Medicare tax, it is a huge drain on the economy because those taxes apply to the first dollar EVERYONE, even low-earners, make.


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News