http://static6.businessinsider.com/image/5978d6215d8a2f23008b5970-997/screen%20shot%202017-07-26%20at%2014826%20pm.png

how do yall feel about this?

Taxes are some of the lowest in the Western world for the people, and while the repubs love to boast at how high the corporate tax rate you would be hard pressed to find a company paying more then HALF that.

Like what gets me about American's is we don't realize how heavily subsidized our lives are; like if we had to pay the real cost for gasoline we would flip the fuck out.

After you take out the deductions and loop holes, corporate taxes in the US are very high in comparison to other countries

real quick because of taxes.
I have major problems with that.
Especially considering that they put me in a bracket based on my PRE-tax earnings.

Sales taxes and stuff like that I got no problem with.

>Especially considering that they put me in a bracket based on
>my PRE-tax earnings.
>

Something don't add up.
For instance, people always talked about... "YO, when you have a kid you gonna be SET on the tax situation FLUIDJ!"

We got two...and i'm looking at my taxes like "WHERE THE FCK ALL THEM BREAKS AT YO????"

Don't qualify for shit because of our "high income"..... at the end of the day man....I just don't know... I know shit don't add up though...

"Get ready....for your blessing....."

I got a house and 2 kids and I ain't seeing any of this shit they were talking about. Last time I did my taxes I put my shit in and my kid in there and the numbers were lovely. Then I added my wifes income and poof. that shit was GONE!!!

"Get ready....for your blessing....."

A fed sales tax ?

we have some of the lowest taxes in the world and you are mad because you make 75 to 80K after taxes

what do you suggest?

this sounds really GOPish of you bruh

various regions of the country. So while it sounds good on paper, it doesn't translate to reality.
We pay over $60K/year in daycare alone.
And that's NOT at some fancy expensive place either...

There's just a lot of double dipping in taxes that goes on. It's a problem. I couldn't care less that other countries pay more than us really...that's on them.

>we have some of the lowest taxes in the world and you are mad
>because you make 75 to 80K after taxes
Yes, very much so. I don't live in the rest of the world, I live here.

>what do you suggest?
Shit; I DON'T HAVE THE ANSWERS SWAY!

>this sounds really GOPish of you bruh
I don't even know what this means lol.... My money has no political affiliation....i just want as much of it in my account as reasonably possible. When I see folks that make 3x what my household makes and they don't pay the same proportional amount of taxes, I got problems with that.


"Get ready....for your blessing....."

>various regions of the country. So while it sounds good on
>paper, it doesn't translate to reality.
>We pay over $60K/year in daycare alone.
>And that's NOT at some fancy expensive place either...

Daycare cost is a problem but you won't pay that forever. Also can't you write off a portion of daycare cost? My wife stays home due to this and just turned down a decent part time gig cause the numbers didn't add up.

I have serious issues with daycare cost and having some strangers watch my kids but that's another post altogether.

>There's just a lot of double dipping in taxes that goes on.
>It's a problem. I couldn't care less that other countries pay
>more than us really...that's on them.

I would rather pay 10% more and have no student loans and low/free daycare than keep more of my money and continue to see these cost skyrocket


>
>>we have some of the lowest taxes in the world and you are
>mad
>>because you make 75 to 80K after taxes
>Yes, very much so. I don't live in the rest of the world, I
>live here.
>
>>what do you suggest?
>Shit; I DON'T HAVE THE ANSWERS SWAY!

word.
>
>>this sounds really GOPish of you bruh
>I don't even know what this means lol.... My money has no
>political affiliation....i just want as much of it in my
>account as reasonably possible. When I see folks that make 3x
>what my household makes and they don't pay the same
>proportional amount of taxes, I got problems with that.

it means you are prolly in the top 5 to 10% of earners in America. No one is going to feel for you because the top 1 to 2% get over. It's frustrating but the other 80% of Americans don't feel your pain.
>
>
>"Get ready....for your blessing....."

>>various regions of the country. So while it sounds good on
>>paper, it doesn't translate to reality.
>>We pay over $60K/year in daycare alone.
>>And that's NOT at some fancy expensive place either...
>
>Daycare cost is a problem but you won't pay that forever. Also
>can't you write off a portion of daycare cost? My wife stays
>home due to this and just turned down a decent part time gig
>cause the numbers didn't add up.

Nope, household get up to $5000 credit basically. I forget what's it's classified as because my wife handles that...but it's only $5000 max/household. Unfortunately due to the cost of living up here, single income is just not feasible for us. There are a LOT of factors...commute, school system, quality of life, etc.....before anyone suggests that we just move to a cheaper location in the region.

>I have serious issues with daycare cost and having some
>strangers watch my kids but that's another post altogether.
Yeah, we let go of that real quick though lol...but you're right, that's a whole OTHER post... next week.

>>There's just a lot of double dipping in taxes that goes on.
>>It's a problem. I couldn't care less that other countries
>pay
>>more than us really...that's on them.
>
>I would rather pay 10% more and have no student loans and
>low/free daycare than keep more of my money and continue to
>see these cost skyrocket

Oh i'd gladly do that..but we KNOW that ain't gonna happen here.

>>
>>>we have some of the lowest taxes in the world and you are
>>mad
>>>because you make 75 to 80K after taxes
>>Yes, very much so. I don't live in the rest of the world, I
>>live here.
>>
>>>what do you suggest?
>>Shit; I DON'T HAVE THE ANSWERS SWAY!
>
>word.
>>
>>>this sounds really GOPish of you bruh
>>I don't even know what this means lol.... My money has no
>>political affiliation....i just want as much of it in my
>>account as reasonably possible. When I see folks that make
>3x
>>what my household makes and they don't pay the same
>>proportional amount of taxes, I got problems with that.
>
>it means you are prolly in the top 5 to 10% of earners in
>America. No one is going to feel for you because the top 1 to
>2% get over. It's frustrating but the other 80% of Americans
>don't feel your pain.

FOH...not even CLOSE. There's a big gap between the middle class (which we are firmly in) and the upper class. On paper we caking, but if you lay out side by side our assets and just "Stuff we have" vs. say the rest of my family that are still down in N.C. and make a fraction of our income... we come out only slightly better.
Smaller house
Less money in the bank
Older car/s
Higher bills
Higher expenses
Higher everything...

I'm not saying we aren't fortunate because we are. BUT, it ain't like we not working some kinda strange magic out here to keep things afloat.

"Get ready....for your blessing....."

.

not trying to sound rude but if you choose to live in DC it's the price you pay for the chance to say you make 6 figures.

it's the main thing holding us back from moving to the NE.

>not trying to sound rude but if you choose to live in DC it's
>the price you pay for the chance to say you make 6 figures.
>
>it's the main thing holding us back from moving to the NE.

The thing is this....your career choice often drives where you end up in living your life out. That's us. We have degrees in engineering. Specifically Architectural Engineering (my wife got out of the field altogether though).. We graduated in 98/99 and the market was NOT strong for engineering jobs in NC. It was strong in DC so that's where we headed for....and that's pretty much where we've been stuck since.

By the time we both had enough years under our belt to even entertain taking our experience in our fields to different locations, the markets crashed and the job market went to shit. The prudent thing to do was to once again, stay where the jobs were...DC.

We choose to live where the work is because we have to work to survive and provide. So yeah, it's kinda rude to say what you're saying to someone because it's not a choice most people make for frivolous reasons. It's where life took us, where life locked us in, and now we're very much entrenched so the alternative is not longer reasonably feasible to even entertain.

but I think with those degrees there is some flexibility

NC isn't the only place down south.

just saying, I think some folks prefer the NE or LA/SF and that's fine but it's hard to feel for yall when it comes to COL.

No engineering jobs anywhere else besides DC? Really?

I understand if you have roots there now and that home but again, it's hard for folks to "feel" your pain is all I'm saying.

didn't mean to offend.

Charlotte is popping right now, they are building everywhere. Pretty sure there are a good amount of engineering gigs here.

There are TON of variables is the main point.

It's not as cut and dry as "You chose that life & location."

and once you drop down below Northern VA, the industry is still very much a Good Ol Boy network that I wants no part in.


"Get ready....for your blessing....."

was the your household income is higher than most other americans, which is correct. but you're right in that there are ton of other variables that determine whether you've 'made it' or even being somewhat comfortable.

a large factor in this is also debt. not only studuent loans, but credit cards, cars, personal loans, and houses.

I started behind once I was done with college. had mad credit cards and car note. was not making enough. so as the income went up, the life started changing, marriage, kids, house. still played catch up on those old college bills.

our income sounds great on paper too and we're ok for now, but shit aint all gravy. if my wife stops working, shit will get tight quickly.

Like...I can't dislike the tax structure in the US because of my household income level?? That's all I took issue with really.

>was the your household income is higher than most other
>americans, which is correct. but you're right in that there
>are ton of other variables that determine whether you've 'made
>it' or even being somewhat comfortable.

Yeah, i'm less concerned about "making it". It's all about these kids for me, making sure they are straight.

>a large factor in this is also debt. not only studuent loans,
>but credit cards, cars, personal loans, and houses.
>
>I started behind once I was done with college. had mad credit
>cards and car note. was not making enough. so as the income
>went up, the life started changing, marriage, kids, house.
>still played catch up on those old college bills.
>
>our income sounds great on paper too and we're ok for now, but
>shit aint all gravy. if my wife stops working, shit will get
>tight quickly.
^^exactly.

"Get ready....for your blessing....."

http://www.reactiongifs.com/r/ksry.gif

it read like you are mad because you pay taxes but the way it was worded. "I'm mad because my 6 figures is now 5 figures after taxes"

it sounded real Case One-ish. "Damn, I had to pay 2,000 in taxes biweekly"

nigga, all that means is you make a nice amount of money..lol.

my bad on the tone.

*runs out an knee drops anyone that's picking it up*


>http://www.reactiongifs.com/r/ksry.gif
>
>it read like you are mad because you pay taxes but the way it
>was worded. "I'm mad because my 6 figures is now 5 figures
>after taxes"
>
>it sounded real Case One-ish. "Damn, I had to pay 2,000 in
>taxes biweekly"
>
>nigga, all that means is you make a nice amount of money..lol.
>
>
>my bad on the tone.
>
>


"Get ready....for your blessing....."

http://legacy.blavity.com/wp-content/uploads/2016/04/giphy-2-3.gif

to get the best credits.

I'm self employed (mostly stock market investments but some VC vehicles and real estate). I'm constantly taking advantage of credits or deferring income down the line.

If 90% of your income is salary-related, don't expect significant tax breaks

in the income bracket to even approach acquiring those assets.
With that said, yes, had we known, we coulda gone for those assets years ago when it WAS feasible (ie, prior to kids).... live and learn though.

I mean...the assets we DO have are more like burdens it seems sometimes...a permanent residence and a rental property that is flat, value wise.


"Get ready....for your blessing....."

2 years ago, I opened up an assisted living facility in FL with a friend. Combined it cost of $12k

That one facility grossed in revenue $370k+ in the first year. Since then, we've opened up another facility that has grossed just north of $310 and in the coming weeks we will be opening an additional 2.

So in less than two years, I'll have a business bringing in at least $1.6 million in revenue. (we'll net out around $1.2).

I just purchased several properties in Nashville with another friend and have begun turning those into transitional living facilities. The revenues should be comparable. Once again, the initial cost is only $9000/property

Almost weekly, I see investment opportunities where the cost is doable for most people with an ok credit line or liquid assets

metropolitan areas of the country though.

>2 years ago, I opened up an assisted living facility in FL
>with a friend. Combined it cost of $12k
>
>That one facility grossed in revenue $370k+ in the first year.
>Since then, we've opened up another facility that has grossed
>just north of $310 and in the coming weeks we will be opening
>an additional 2.
>
>So in less than two years, I'll have a business bringing in an
>at least $1.6 million in revenue. (we'll net out around $1.2.
>
>I just purchased several properties in Nashville with another
>friend and have begun turning those in transitional living
>facilities. The revenues should be comparable. Once again, the
>initial cost is only $9000/property
>
>Almost weekly, I see investment opportunities where the cost
>is doable for most people with an ok credit line or liquid
>assets

If only I lived in a region of the country where I could go all in. Trust, I got ideas...but kinda hemmed down because I waiting too late in life to be bout that process.


"Get ready....for your blessing....."

I have investments in Houston, NOLA, ATL, Bay Area, and Chicago.

Every time I go to these cities, I see ways to invest and make money. But I have to way risk/return: It's not about can I make money for a given risk level. I have to analyze if one investment in this city would yield enough return relative to making a similar investment elsewhere. There are other factors but that's where it starts.

But I've been thinking this way sing before I left high school. Investing in real estate runs in the family.

I have several friends/acquaintances making 5 figures that I have to convince investing $10k in a particular vehicle is a great opportunity. To them, they only see a blank canvas, whereas I can see a fully realized painting. And the friend's who end up passing, regret it down the line (I feel compelled to say, I'm not convincing them to invest with me, just that they should make the leap).


I'm developed enough that I can make money in any economic (bull or bear, growth or retraction), regional density/saturation etc.

In fact, my best investments are had with investments (and some of my worst losses) on the stock markets during an economic retraction or recession, or in terms of tanigle assets, in cities with high saturation.

jumping on, but think is worth jumping on...you just let me know...
I'm totally open to the idea.

I trust you're sharing these jewels to the youth you may encounter right?



"Get ready....for your blessing....."

and show an interest in learning from mistakes as successes. It's a lifestyle and it is a long road.


now what I don't do is give out investment advice on a particular stock. I've had too many arguments with family when they become impatient

I prefer to invest with someone so they understand my money is in this along with your money and/or expertise. Learned that from reading about Buffett back in highschool.

I'm not too familiar with the DC area enough to say I see anything on the horizon, but I'm always on the look out

Apparently to finance middle income tax cuts. How you feel about this?

https://www.bloomberg.com/news/articles/2017-07-26/bannon-is-said-to-call-for-44-tax-on-incomes-above-5-million

Democrats...

I mean, like Legs said, this should be a Democrat position.


But their busy blocking the importing of Canadian drugs to protect their donors....that's word to Cory Booker.

tax revenue as distributed to the services the provide. If people are paying that in taxes but it is subsidizing a better quality of life because of health care, free college, paid family leave and time off, etc then "less" in taxes can be somewhat deceptive. I'm paying taxes + insurance + student loans, and barely have to show for it what a man in Denmark with the same hustle is getting with his fixed tax rate.

imho.

in some of those places, they do offer better gubment services or free college. even for things like working less and mandatory time off.

I don't know if our culture will allow more assistance from the government for things that we really should have. we see how this healthcare fight is working. folks would lose their minds if schooling became a 'right' for everyone.

would only come is military spending is decreased, right? That would seem like the simple solution in my eyes, but I could be wrong.

that will never happen.

gotta spend that money to get it the next year.

Can you imagine all the jobs lost if they cut off military spending? Whole economy would crash.

so I'm not holding out hope that military spending would get cut anything soon; I was making that suggestion since a large portion of federal taxes goes largely to fund the military.

but we're a military obsessed culture as most countries throughout history were when they were the top dawg globally

But I don't agree with legs...that a significant decrease in military spending will wreck our economy. History of the U.S. has shown that to be the complete opposite

I misspoke and meant to say top 3 in budget expenses...not one-third...

even still, it's less than a third

https://lh5.googleusercontent.com/Rv5UHrNsvcucvflDwwz_pqEjjHnbQeE_HoAgEM44mGOwutlLCyMopUBTlKW_j1krJ775qI5DGZLYlEB8z7I3mD5BllP27Iq4URRWPE-vV3hfqv4wYgLtmDm3D_Z_hAlEMc-s1yA

https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

http://federal-budget.insidegov.com/l/120/2017-Estimate#Spending&s=47xnQz


a third of overall spending I guess

I was mimicking what the GOP would say

"Get ready....for your blessing....."

knew where there tax dollars go'


it's absurd and unreal

woman from sweden or somefuckinwhere. if i paid 50% in taxes but had free (or damn near free) :

health care
college

and a buncha other shit, hell yeah i would do that. if you take what we pay in taxes and then ADD to it how much we pay for healthcare, education and other shit, we pay more.

whole year maternity and paternity leave and shit. 5 week vacations on the j-o. NOT having to work mad overtime. labor protections.

>tax revenue as distributed to the services the provide. If
>people are paying that in taxes but it is subsidizing a better
>quality of life because of health care, free college, paid
>family leave and time off, etc then "less" in taxes can be
>somewhat deceptive. I'm paying taxes + insurance + student
>loans, and barely have to show for it what a man in Denmark
>with the same hustle is getting with his fixed tax rate.
>
>imho.

problem is the less racially homogenized the country, the less social safety net. white ppl, en masse, would rather starve, get sick and die than have brown babies not die of hunger and preventable illness.




peace & blessings,

x.

www.twitter.com/poetx

=========================================
I'm an advocate for working smarter, not harder. If you just
focus on working hard you end up making someone else rich and
not having much to show for it. (c) mad

it's sad. at least in germany you don't have to worry about
healthcare, student loan debt, no real plan for immigration /
undocumented growing population. albeit it comes out of taxes but at
least you can see the benefit of it. they seem to care more about
their citizens.

You think Germany or Norway would have these safety nets if there was 13% Black folk and 20% Latino?

I doubt it.

take the wind out of socialism's sails. Traditionalist and liberals alike were so afraid of socialism/communism gaining traction, that they implemented some of its policies to prevent people flocking to the left.

I'm not saying this to dismiss the racial angle (I think the current rise of ethnic nationalism is very much tied to the decline of the welfare state, for example), but if I'm not mistaken the US had a much weaker socialist/social-democrat presence throughout the 20th century, so that might account for the discrepancy as well.