Thread View: net.taxes
4 messages
4 total messages
Started by Mike Fulford, MS: UCC, DTN: 544-...
Mon, 29 Sep 1986 19:11
Please excuse my tax illiteracy!
Author: Mike Fulford, MS: UCC, DTN: 544-...
Date: Mon, 29 Sep 1986 19:11
Date: Mon, 29 Sep 1986 19:11
3 lines
886 bytes
886 bytes
When the media speaks of the "tax rate", do they mean Fed and SS taxes or just Fed? I can't figure out if I get a tax break or if I get broken by taxes. I will be in the 28% bracket. If it's a Fed only rate, then I get a 10% increase. If it's Fed and SS, then I get a 2% decrease? What's the story here? They're doing it to us again!
Re: Please excuse my tax illiteracy!
Author: Jeff David
Date: Tue, 30 Sep 1986 20:03
Date: Tue, 30 Sep 1986 20:03
5 lines
886 bytes
886 bytes
> When the media speaks of the "tax rate", do they mean Fed and SS taxes or just Fed? I can't figure out if I get a tax break or if I get broken by taxes. I will be in the 28% bracket. If it's a Fed only rate, then I get > a 10% increase. If it's Fed and SS, then I get a 2% decrease? What's the > story here? They're doing it to us again! They mean Federal Income Tax rate only. No SS.
Re: Please excuse my tax illiteracy!
Author: A.S.Kamlet
Date: Tue, 30 Sep 1986 22:01
Date: Tue, 30 Sep 1986 22:01
13 lines
1311 bytes
1311 bytes
In article <5621@decwrl.DEC.COM> fulford@altos.dec.com (Mike Fulford, MS: UCC, DTN: 544-1313) writes:
>When the media speaks of the "tax rate", do they mean Fed and SS taxes or
>just Fed? I can't figure out if I get a tax break or if I get broken by
>taxes. I will be in the 28% bracket. If it's a Fed only rate, then I get
>a 10% increase. If it's Fed and SS, then I get a 2% decrease? What's the
>story here? They're doing it to us again!
The 28& is the tax you pay on the last dollar of income on your income tax.
It is known as the marginal tax rate, and if your taxable income is above
your limit, you pay 28% on every dollar above the limit. It does not
include SS tax.
--
Art Kamlet AT&T Bell Laboratories Columbus {cbosgd | ihnp4}!cbrma!ask
Re: Please excuse my tax illiteracy!
Author: Brian Gordon
Date: Mon, 06 Oct 1986 21:47
Date: Mon, 06 Oct 1986 21:47
18 lines
1795 bytes
1795 bytes
In article <5621@decwrl.DEC.COM> fulford@altos.dec.com (Mike Fulford, MS: UCC, DTN: 544-1313) writes:
>When the media speaks of the "tax rate", do they mean Fed and SS taxes or >just Fed? I can't figure out if I get a tax break or if I get broken by >taxes. I will be in the 28% bracket. If it's a Fed only rate, then I get
>a 10% increase. If it's Fed and SS, then I get a 2% decrease? What's the
>story here? They're doing it to us again!
The rates reported are consistently Federal Income Tax rates. The FICA tax
(Social Security) -- both rate and base -- is going up on 01Jan, as has been
scheduled for years. If you are a "computer professional", then, in all
likelyhood, your takehome pay will decrease at the first of the new year,
and quite possibly with each additional "phase in" step. You didn't expect
a break, did you?
FROM: Brian G. Gordon, CAE Systems Division of Tektronix, Inc.
UUCP: tektronix!cae780!gordon
{ihnp4, decvax!decwrl}!amdcad!cae780!gordon
{hplabs, resonex, qubix, leadsv}!cae780!gordon
USNAIL: 5302 Betsy Ross Drive/#58137, Santa Clara, CA 95052-8137
AT&T: (408)748-4817 [direct] (408)727-1234 [switchboard]
Thread Navigation
This is a paginated view of messages in the thread with full content displayed inline.
Messages are displayed in chronological order, with the original post highlighted in green.
Use pagination controls to navigate through all messages in large threads.
Back to All Threads