7,000 Oh Gosh I guess I shouldn't complain, Ours is 850.00 and 2000 max per individual and 5000 max per family. I thought that was bad. It's so much more then it was a few years ago. Thankfully we never get sick. It's just bad when you need to go to the ER for something minor and you pay 850 when it really shouldn't cost that much.
I thought it was bad, but my neighbor’s deductible is $20,000. We usually hit the $7000 by April, although this year, there are no surgeries that I know of, and I only owe the orthodontist $800 (out of the $25,000 for four kids). No one is currently going to PT.
Yes, the standard deduction is always greater than itemization for me. So I'm in that 68.5% bracket. In fact, the doubling of the standard deduction is going to help me stay in a lower tax bracket.
I pay $ 2000 a year, for a 3000 sq. foot home, no basement on 5 acres. I live on a pension, $ 24,000, awaiting SS. Some of these tax amounts are insane! My neighbor pays $ 6000, and I thought that was outrageous, boy am I in the dark here.
OMG...you are so right! Where do you think all the money we lose is going to come from...the most vulnerable population. And watch, Medicare and SS will be next.
Don't we all end up subsidizing in one way or another? I don't think this should be a debate about who is subsidizing more than others. We all pay in, and the money goes out somewhere.
I hope this is true. And I hope the wages will be commensurate with the prices we have to pay for everything.
Hope this new year will be good to you and your family!
Thanks, but it appears we are those folks with the high property taxes with two in college who itemize every year.
Doesn't it have more to do with disposable income. If you have a beautiful, expensive home (compared to most) your costs will be higher. If you own a more expensive car, etc. your costs are higher. So to my way of looking at it, someone with a $ 125,000 income may not have any more money to spend on "fun" than someone making $ 50,000 (just a random number). Yes, they may have a larger, more beautiful home and lots of "toys" but it sort of equals out in the satisfaction department. If I had more of an income, I would live in more of a dream home and drive a dream car and have a dream boat. I guess my point is that we would all like to have more money to spend on things we'd like to have. There are just some of us who have more than others. We just all want to be happy and be able to afford a vacation or two in between all the hard work.
Good point!
Well, some of those employers also offer stock options and 401k matching in stocks, so employees will potentially benefit there too. My wife got nothing this year, and I got a $25 grocery store gift card. So $1,000 would be HUGE to us.
Believe me, any extra income not expected would make me very happy. I'm happy getting a piddly little paycheck from my part time library job. I just really don't think that the most benefit is going to the middle class...it just isn't. So to pretend that it is...quite frankly, is insulting.
Thanks for the laugh....so true! The private Island is way out of my budget even with the huge tax break I'm getting!A lot of that has to do with the fact that "middle class" has become an essentially meaningless term that everyone believes applies to them. People in the top 5% consider themselves 'middle' as long as they're not in the top 1 or 2%, the media puts out calculators defining middle class on a county-by-county basis so people who choose to live in wealthy areas can pretend they're just as much middle class as if they lived a county over where housing costs are 50% lower, and much of the conversation about the middle class centers around a standard of living that only perhaps the top quarter of American households can actually afford (dependable healthcare, college without debt, a decent home, two cars and a vacation every year). So of course everything can be said to help the middle, when middle is defined as anyone making too much for welfare but not enough for a private island!
