The Tax Questions Blog

Archive for October, 2008

Question: Did the Clintons pass legislation making 85% of SS taxable? Doesn't Obama want this untaxable?

Haven't Americans already paid taxes on their earnings before they have to pay tax again (double taxation) on the retirement monies that were kept by the government earning interest over a lifetime of earnings? Why should retirees be double taxed?
I say Clintons, because Hillary obviously she wants to use her husband's legacy to make as her own, seems like ALWAYS!
She seems like she NEVER wants to talk about what she did while Bill was in office that was more of a figure head witnessing than being a legislator!

Answer: Reagan signed the first law in 1983 for 50% taxation...it was later raised in 1993 to 85%...for higher income beneficiaries ONLY.. some middle income beneficiaries may pay on 50% and some may pay nothing...

http://www.ssa.gov/history/InternetMyths2.html

So, if someone is a millionaire should they even get social security at all? Well, they did pay in, but the fund is getting stretched...

Economists: Extending Tax Cuts Will Aid Recovery

Many Economists Think Letting the Bush Tax Cuts Expire Will Harm the Fragile Economy

Question: Rational Numbers ?! please and thanks! ?

A man's taxable income is 40 000. If he plays 1 500 tax, how much tax does he play for every 100 income?

The price of gernal Motors stock fell by .35 one day. By how much did 400 shaers of Gernal Motors stock fell?

can someone explain this thoroughly? thanks a lot! i appreciate it

Answer: If you work out how much tax someone pays per $100, that is like finding the percentage at which he pays tax. 1500 is a percentage of 40000, and that percentage is the amount he pays per $100. To find out how much he pays per $100, divide 1500 by 40000 and multiply by 100 to get the percentage out of 100%, which is the same as out of $100. (1500 / 40000) * 100 = 3.75%, or he pays $3.75 per $100 in tax.

This is also a percentage question. However, to work out percentages, you must have two of the percentage, starting price and closing price. I can only see the difference between the starting and ending price, so I can't do this one for you.

Candidates face voters at forum

The election for the vacant District 40 house seat is quickly approaching, and candidates are getting the word out on where they stand on the issues. Last week, the seven candidates met for a forum.

AmeriCorps Alums: Reflections on the Segal AmeriCorps Education Award

Question: Gosh Obama & his plans are so great!!?

Really?!

Taxpayers to get rude surprise

http://finance.yahoo.com/news/INSIDE-WASHINGTON-Rude-apf-15091434.html?.v=1

At-risk taxpayers include a broad swath of the public: married couples in which both spouses work; workers with more than one job; retirees who have federal income taxes withheld from their pension payments and Social Security recipients with jobs that provide taxable income.

None of these at risk people sound like they make $250,000 or more so where's their tax cut?!
Llama.Face - get real, I know plent of working couples that barely break 100,000 and several singles working 2 jobs just to make ends meet that aren't even making a 100,000.
Angie I'm not sympathizing with people making 250,000+ I'm pointing out that the 250,000 was a LIE

Answer: Honey you are right. There is NO tax CUT.

5 steps to get on the right retirement path in 2010

What to do if you're 25, 45 or 65 years old to be ready, willing and able to retire.

Labour will STOP the Mary River Dam !