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US Election 2012

Ryan's taxes- two years worth? Less than you paid?

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shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#1New Post! Aug 18, 2012 @ 00:37:55
2011 - 20%
2010 - 15.9%
https://news.yahoo.com/blogs/ticket/paul-ryan-releases-two-years-tax-returns-paid-223356102.html
Leon On December 21, 2023




San Diego, California
#2New Post! Aug 18, 2012 @ 00:39:52
@shinobinoz Said

2011 - 20%
2010 - 15.9%
https://news.yahoo.com/blogs/ticket/paul-ryan-releases-two-years-tax-returns-paid-223356102.html


Is that income tax only or both income tax and Social Security/Medicare?
shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#3New Post! Aug 18, 2012 @ 00:47:13
@Leon Said

Is that income tax only or both income tax and Social Security/Medicare?

Effective tax rate on adjusted gross income.
Leon On December 21, 2023




San Diego, California
#4New Post! Aug 18, 2012 @ 00:50:13
@shinobinoz Said

Effective tax rate on adjusted gross income.


I guess my real question is do these tax rates reflect amount of income tax only, or is it reflective of income tax and FICA/MEDI combined.

If it is the former, then I paid about the same as Ryan, to answer your question. If it is the latter, then I paid more.
shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#5New Post! Aug 18, 2012 @ 00:58:42
@Leon Said

I guess my real question is do these tax rates reflect amount of income tax only, or is it reflective of income tax and FICA/MEDI combined.

If it is the former, then I paid about the same as Ryan, to answer your question. If it is the latter, then I paid more.


It is fed his tax liability. What you owe when you file your fed income taxes.
shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#6New Post! Aug 18, 2012 @ 00:59:41
shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#7New Post! Aug 18, 2012 @ 01:00:49
Leon On December 21, 2023




San Diego, California
#8New Post! Aug 18, 2012 @ 01:01:04
@shinobinoz Said

It is fed his tax liability. What you owe when you file your fed income taxes.


Some pay their Social security tax and Medicare tax when they file, some don't.

Lol, nevermind, I'll just look it up myself.
Leon On December 21, 2023




San Diego, California
#9New Post! Aug 18, 2012 @ 01:06:27
Correction. The effective tax rate does NOT include Medicare and Social Security taxes, so I pay less. Most people do.

Effective tax rates for 2009 federal tax returns in various income categories:

$1-$5,000 0.1%
5,000-10,000 0.4%
10,000- 15,000 1%
15,000- 20,000 1%
20,000- 25,000 2%
25,000- 30,000 3%
30,000- 40,000 4%
40,000-50,000 5%
50,000-75,000 7%
75,000-100,000 8%
100,000-200,000 12%
200,000-500,000 19%
500,000-1,000,000 24%
1,000,000-2,000,000 25%
2,000,000-5,000,000 26%
5,000,000-10,000,000 25%
10,000,000-up 22%

Average for $1 million and up 25%

Average for all returns 11%

https://www.sfgate.com/business/article/Why-Mitt-Romney-s-tax-rate-isn-t-lower-than-most-2617752.php#ixzz23r9NnqSP
Leon On December 21, 2023




San Diego, California
#10New Post! Aug 18, 2012 @ 01:22:59
So it looks like Ryan paid average, Romney didn't.
shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#11New Post! Aug 18, 2012 @ 01:43:30
@Leon Said

So it looks like Ryan paid average, Romney didn't.


Seems like it.
El_Tino On October 12, 2023
booyaka!





Albuquerque, New Mexico
#12New Post! Aug 21, 2012 @ 07:00:45
@Leon Said

Some pay their Social security tax and Medicare tax when they file, some don't.

Lol, nevermind, I'll just look it up myself.



The part of his income he earned as a congressman would have SS/FICA included in this number. Most investment income/capital gains would be taxed at 15% in this case.
El_Tino On October 12, 2023
booyaka!





Albuquerque, New Mexico
#13New Post! Aug 21, 2012 @ 07:08:43
@Leon Said

Correction. The effective tax rate does NOT include Medicare and Social Security taxes, so I pay less. Most people do.

Effective tax rates for 2009 federal tax returns in various income categories:

$1-$5,000 0.1%
5,000-10,000 0.4%
10,000- 15,000 1%
15,000- 20,000 1%
20,000- 25,000 2%
25,000- 30,000 3%
30,000- 40,000 4%
40,000-50,000 5%
50,000-75,000 7%
75,000-100,000 8%
100,000-200,000 12%
200,000-500,000 19%
500,000-1,000,000 24%
1,000,000-2,000,000 25%
2,000,000-5,000,000 26%
5,000,000-10,000,000 25%
10,000,000-up 22%

Average for $1 million and up 25%

Average for all returns 11%

https://www.sfgate.com/business/article/Why-Mitt-Romney-s-tax-rate-isn-t-lower-than-most-2617752.php#ixzz23r9NnqSP



Lucky ducks! My tax rate the last few years has ranged from 30% above the average for my income (boo) to 1/10th the average for my income (yay!) Though it would take many years at the 1/10th level savings to make up for the couple years 30% above average level
shinobinoz On May 28, 2017
Stnd w Standing Rock





Wichita, Kansas
#14New Post! Aug 23, 2012 @ 02:55:24
@El_Tino Said

The part of his income he earned as a congressman would have SS/FICA included in this number. Most investment income/capital gains would be taxed at 15% in this case.


But not Romney- after the first $125,000 or so- no more SS pulled out. But for those of us under $125,000 all of our earnings are taxed towards SS.
DorkySupergirl On November 02, 2017




, Canada
#15New Post! Aug 23, 2012 @ 03:01:02
@Leon Said

Correction. The effective tax rate does NOT include Medicare and Social Security taxes, so I pay less. Most people do.

Effective tax rates for 2009 federal tax returns in various income categories:

$1-$5,000 0.1%
5,000-10,000 0.4%
10,000- 15,000 1%
15,000- 20,000 1%
20,000- 25,000 2%
25,000- 30,000 3%
30,000- 40,000 4%
40,000-50,000 5%
50,000-75,000 7%
75,000-100,000 8%
100,000-200,000 12%
200,000-500,000 19%
500,000-1,000,000 24%
1,000,000-2,000,000 25%
2,000,000-5,000,000 26%
5,000,000-10,000,000 25%
10,000,000-up 22%

Average for $1 million and up 25%

Average for all returns 11%

https://www.sfgate.com/business/article/Why-Mitt-Romney-s-tax-rate-isn-t-lower-than-most-2617752.php#ixzz23r9NnqSP


Help a dork please. I am Canadian so I have medicare and its tax paid. I never know how much of my taxes go to it. Like I get my taxes done each year and I owe X and have to mail in a cheque. I do not get a breakdown of you owe 100$ for medicare, 100$ for roads et. You guys pay your tax for medicare but you get to know how much of your taxes you owe are for medicare?

What is a social security taxes? Is that like CPP? Canada Pension Plan, the money you get to live off of when you hit whatever age and retire? I do not recall paying a tax on that in my life. Never heard of it before in my life. All we do is you get x amount of money off each pay based on your salary to CPP. Then you get x amount taken off for taxes. I have never heard of paying extra taxes for it.
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