What happened to $250K and up??

iVillage Member
Registered: 10-12-2008
What happened to $250K and up??
32
Fri, 10-17-2008 - 11:24pm
I just went to the Obama website tax calculator.

iVillage Member
Registered: 10-17-2008
Mon, 10-20-2008 - 11:13pm

"Well if you were actually making between 200K and 250K and you didn't have retirement or a mortgage you are doing something very wrong! It would be just plain stupid at that income level to not be saving for retirement and buying a home. Both of which provide tax benefits."


Avatar for songwright
iVillage Member
Registered: 06-28-1997
Tue, 10-21-2008 - 12:52am

Obama has been QUITE CLEAR on this issue, and it is available to anyone who will actually look at his plan - which is available online.

~ SW

iVillage Member
Registered: 10-08-2008
Tue, 10-21-2008 - 6:25am
I believe the 200k is for "single" taxpayers, who get shafted always by everyone.
iVillage Member
Registered: 03-19-2003
Tue, 10-21-2008 - 6:50am

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iVillage Member
Registered: 03-19-2003
Tue, 10-21-2008 - 6:51am

I played with it using single, married joint ... dependents ... none, etc ....

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iVillage Member
Registered: 08-31-2008
Tue, 10-21-2008 - 7:34am

< At that income level the AMT usually disallows deductions for contributions into your 401K>


AMT does not affect 401K

Avatar for songwright
iVillage Member
Registered: 06-28-1997
Tue, 10-21-2008 - 8:04am

:o)

~ SW

iVillage Member
Registered: 03-19-2003
Tue, 10-21-2008 - 8:07am

just to clarify though - I never argued the amounts.


I think it has some good aspects, some not so good aspects.

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iVillage Member
Registered: 10-16-2008
Tue, 10-21-2008 - 8:42am

Actually under Obama your taxes could go up if a couple earns between $110k and $130k. They would stay the same if you are just over that. http://www.taxfoundation.org/research/show/23724.html

The tax cut the majority of people will get is his $500 annual make-pay-work credit. He is not proposing to change the tax rates for the middle class, he wants to keep the Bush tax cuts for that group. (see his website for details).

Pennsylvania Mom http://openlettertobarack.blogspot.com/
iVillage Member
Registered: 09-18-2008
Tue, 10-21-2008 - 9:03am
What is wrong here??? The standard refrain of Obama supporters is "go look at his web page - he lays his plans out quite clearly" and here you have someone who went to his web page and did some research and wasn't clear on the results. She comes here looking to discuss it with you and you rip her a new one?! I can't think of a better way to lose a vote for Obama! How about a little discussion instead of turning every question into a bashfest of McCain or Bush?