Stock Market

[theguesser]

So a 55% total rate is on with you?

 

So a 55% total rate is on with you?

On the wealthy sure.   If you're making $400,000 You're not paying 55% on all your earnings.  Just a portion of them over a certain amount, right?    But you should pay a FICA tax on all your earnings, IMO.   

[MonkeyF0cker]

On the wealthy sure.   If you're making $400,000 You're not paying 55% on all your earnings.  Just a portion of them over a certain amount, right?    But you should pay a FICA tax on all your earnings, IMO.

 

For someone who is self employed and pays both the employer share and employee share, that results in a 44.45% effective tax rate on $400,000 in earnings.

 

 

Add in state income taxes and most places, you're easily over 50%.

 

There's a reason the top 1% already pay 90% of the taxes in this country.

[MonkeyF0cker]

If anyone thinks CEO salaries go down instead of up when you raise the tax rates, you're smoking crack.

[joeybagadonuts]

Hugo's frog bar at the RIVERS CASINO

 

Think I had a comp

 

Was an excellent meal and better conversation

Isn’t runner like 6’7’’ or something ?

 

The midge probably gave him a standing blow job

[theguesser]

 

For someone who is self employed and pays both the employer share and employee share, that results in a 44.45% effective tax rate on $400,000 in earnings.

 

 

Add in state income taxes and most places, you're easily over 50%.

 

There's a reason the top 1% already pay 90% of the taxes in this country.

That would be Great.   Right now they're only paying Social Security tax of 12.4% on the income up to $132,900, and ZERO on the excess over that amount up to the $400,000.   That's ridiculous.  

[MonkeyF0cker]

Yeah. Getting a bill for $177k sure is great.

 

Over 50% taxes, but you think the people who supply jobs are going to be MORE likely to pay higher wages then. Right? LOL.

 

How many jobs did you just destroy?

 

They don't call you people libtards for nothing.

[FairWarning]

Fair Warning why do you spread so much misinformation and lies about me. You don't know shit about who paid. You need a good ass kicking.

If brock paid and you left the tip, then that is what happened. It’s really not a big deal.

[Downsouth]

That would be Great. Right now they're only paying Social Security tax of 12.4% on the income up to $132,900, and ZERO on the excess over that amount up to the $400,000. That's ridiculous.

How is that great?

 

Almost half of what you make gone as "fair share". I can maybe see a slightly elevated rate for those that are big time rich but thats a buring someone whos just well off.

[Bigrunner]

 

For someone who is self employed and pays both the employer share and employee share, that results in a 44.45% effective tax rate on $400,000 in earnings.

 

 

Add in state income taxes and most places, you're easily over 50%.

 

There's a reason the top 1% already pay 90% of the taxes in this country.

 

You overlooked the:

1. The greater of standard or itemized deductions.

2. The QBI deduction

3. SE Health insurance deductiin

4. A deductiob for half of S. E. Tax.

 

And the part about the top 1% is nonsense. The 400 richest Americans, .00025 of the population own more than the combined wealth of the poorest 175 million Americans or 65% of the pop.

 

Its so fucken obvious the richest don't pay their fair share on taxes.

[Bigrunner]

For someone who is self employed and pays both the employer share and employee share, that results in a 44.45% effective tax rate on $400,000 in earnings.

 

 

Add in state income taxes and most places, you're easily over 50%.

 

There's a reason the top 1% already pay 90% of the taxes in this country.

The effective is calculated on taxable income.

 

You overlooked these deductions:

1. The greater of standard or itemized deductions.

2. The QBI deduction

3. SE Health insurance deductiin

4. A deductiob for half of S. E. Tax.

5. State exemptions

 

And you also aren't accounting for tax credits that would also reduce the effective rate.

 

And the part about the top 1% is nonsense. The 400 richest Americans, .00025 of the population own more than the combined wealth of the poorest 175 million Americans or 65% of the pop.

 

Its so fucken obvious the richest don't pay their fair share on taxes.

[jasson621]

How is that great?

 

Almost half of what you make gone as "fair share". I can maybe see a slightly elevated rate for those that are big time rich but thats a buring someone whos just well off.

Libtard have nots think anything is ok, they are fucking retarded.

[rito]

Your tax rate is a little off relatively speaking. You get to write off travel, office, supplies, utilities, cell, internet, advertising, miles, depreciation, m&e, Pension, Sep. So your taxable S.E. earnings are understated relative to an employee with W-2 income. They cant deduct business expenses like you. So your so called 55% is on you net earnings not your gross earnings.

I don't have hardly any of those expenses. Advertising? Depreciation? Travel? Miles? Are you fucking kiding me?

[Bigrunner]

I don't have hardly any of those expenses. Advertising? Depreciation? Travel? Miles? Are you fucking kiding me?

I believe you.

 

What about:

1. Pension, Sep

2. 1/2 of S. E. Tax

3. S. E. Health insurance

4. Greater of standard or itemized deductions

5. QBI deduction

6. Federal tax credits

7. State exemptions and credits.

 

Bringing the effective rate much closer to 45% than 55%

[MonkeyF0cker]

You overlooked the:

1. The greater of standard or itemized deductions.

2. The QBI deduction

3. SE Health insurance deductiin

4. A deductiob for half of S. E. Tax.

 

And the part about the top 1% is nonsense. The 400 richest Americans, .00025 of the population own more than the combined wealth of the poorest 175 million Americans or 65% of the pop.

 

Its so fucken obvious the richest don't pay their fair share on taxes.

1. The $400,000 is the taxable income, genius. Deductions already factored in.

2. QBI isn't available to people making $400k.

3. See #1.

4. See #1.

[Bigrunner]

1. The $400,000 is the taxable income, genius. Deductions already factored in.

2. QBI isn't available to people making $400k.

 

And that's where Monkey is wrong again!

[MonkeyF0cker]

And that's where Monkey is wrong again!

 

Yeah?  Show me where a sole proprietor can claim QBI.  Then show me where a single filer with a passthrough can get QBI when making $400k.

[Bigrunner]

Yeah? Show me where a sole proprietor can claim QBI. Then show me where a single filer with a passthrough can get QBI when making $400k.

But if taxable income is $400,000 earned & unearned income is probably $600,000. Zing. And thats what we were talking about. Combibed tax rates on SE income. Rito claimed he would have to pay 55% on his SE incone.

 

Oh and btw SE Income is QBI income. Sch C profits is QBI income. C corp income is not QBI incone.

[ERBtheGREAT]

Can this rally continue tomorrow?!?!

[Boatboatboat]

No

[Boatboatboat]

Best 3 consecutive days since 1931

[joeybagadonuts]

Buying some more vix and tvix

 

This is propped up house of cards that are covered in gasoline and a match isn’t far away.

[MonkeyF0cker]

Buying some more vix and tvix

 

This is propped up house of cards that are covered in gasoline and a match isn’t far away.

I don't like that trade at all. The shocks are mostly gone. Unemployment not really as bad as some had anticipated. There's data that suggests the virus isn't nearly as deadly as first feared. One model had the UK with 500k deaths and the U.S. with 2.2 million. That's now been revised to just 20k deaths for the UK. We're going to learn more about asymptomatic infections as antibody tests are released shortly. The administration is working on collecting and analyzing granular data to try to open up commerce where infection rates remain lower and try to actively track it. The stimulus bills have passed. A lot of the uncertainty is going away and that's what causes market shakeups more than anything. Quadruple digit moves in the DJIA and S&P should start to subside as more information and certainty comes in.

 

There may still be some aftershocks but the VIX is still extremely pricey. I'd be a seller of the VIX well before a buyer right now.

[FISHHEAD]

Hopefully more books keep offering lots of stock props and even raise their limits on these as time moves on, even after all this mess settles.

It's a good addition, and should garnish some decent volume as more become aware of it, again, hopefully even after all this virus mess sorts itself out.

[WeinkeToWarrick]

I don't like that trade at all. The shocks are mostly gone. Unemployment not really as bad as some had anticipated. There's data that suggests the virus isn't nearly as deadly as first feared. One model had the UK with 500k deaths and the U.S. with 2.2 million. That's now been revised to just 20k deaths for the UK. We're going to learn more about asymptomatic infections as antibody tests are released shortly. The administration is working on collecting and analyzing granular data to try to open up commerce where infection rates remain lower and try to actively track it. The stimulus bills have passed. A lot of the uncertainty is going away and that's what causes market shakeups more than anything. Quadruple digit moves in the DJIA and S&P should start to subside as more information and certainty comes in.

 

There may still be some aftershocks but the VIX is still extremely pricey. I'd be a seller of the VIX well before a buyer right now.

Wait til next week, unemployment numbers could easily triple and then the market drops again

 

Hope I’m wrong but we’re far from out of the woods here

[WVU]

We haven’t seen the bottom. 6 more weeks of this shit