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Republican congressman bemoans making $600k per year

considering HE employess PEOPLE

CREATES JOBS

TAKES all the RISK

and 1 or 2 mis-steps or a BAD economy and his profits disappear and he has to take $$$ from himself to KEEP the biz going

HE DESERVES TO MAKE MORE
 
mercury14 said:
It has to do with your post right before this where you say there's a general sentiment that people believe the rich to be evil.
Click to expand...

No, it doesn't. You just think it does. I wasn't talking about taxes or politics, I was talking about a nearly universal attitude towards the rich that has recently become stronger due to a variety of factors.
You on the other hand think it's new and only about taxes.
 
mercury14 said:
Incidentally, I fall under no Federal or State income tax jurisdiction. So I keep what I make.

The exception is that I pay FICA, Medicare, and SS. So we will definitely be paying the extra .9% into Medicare.

It's going to be SO PAINFUL!
Click to expand...

mercury14 said:
I still get a W-2. I just have $0 federal and state taxable income and my employer doesn't withold. Then in the medicare/medicaid boxes it shows witholding. I still file with the SEC when I invest and pay capital gains taxes like normal.

...

I don't have any income in the USA from my job. The USA does not and cannot tax foreign income earned by Americans who aren't even in the country.




....
Click to expand...

You never did flesh that out. I'm moving to Cabo if I don't have to pay income taxes!
 
As a U.S. expatriate residing in abroad, you still must file a US Income Tax Return each year on your worldwide income! The stories you hear from the fellow American expatriate sitting next to you at the bar that once you leave the U.S., you no longer owe any taxes or have to file tax returns , are about as true as most bar room tales. Its against the law to give up your U.S. citizenship in order to avoid U.S. taxes! Therefore, if you aren't filing your U.S. tax return, the statute of limitations on tax collections will not run out and your tax return obligation (and perhaps the taxes you owe) only grows greater as each year passes.
 
Liar said:
Um...other countries have taxes too, you know.
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Please keep up. Merc says, because he earns income overseas he doesn't have to pay US Income Taxes - which is wrong - and then bitches about how much others pay in taxes.
 
The US has income tax treaties with over 42 other countries. Now, both the IRS and the foreign taxing authorities can exchange information on their citizens living in the other country. Both the Internal Revenue Service and taxing authorities in foreign countries use these treaties regularly to exchange information on their residents living in the other's country.
 
JohnnySavage said:
Please keep up. Merc says, because he earns income overseas he doesn't have to pay US Income Taxes - which is wrong - and then bitches about how much others pay in taxes.
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he also claims he is a "soldier"

he is teh ONLY soldier that doesnt pay taxes

but teh REAL LOON is YOU

you believe his shit
 
koalabear said:
As a U.S. expatriate residing in abroad, you still must file a US Income Tax Return each year on your worldwide income! The stories you hear from the fellow American expatriate sitting next to you at the bar that once you leave the U.S., you no longer owe any taxes or have to file tax returns , are about as true as most bar room tales. Its against the law to give up your U.S. citizenship in order to avoid U.S. taxes! Therefore, if you aren't filing your U.S. tax return, the statute of limitations on tax collections will not run out and your tax return obligation (and perhaps the taxes you owe) only grows greater as each year passes.
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You are allowed to exclude a certain amount. It's about 90K I think. After that you pay taxes. So yes and no.
 
KRCummings said:
You are allowed to exclude a certain amount. It's about 90K I think. After that you pay taxes. So yes and no.
Click to expand...

If you have your full time residence abroad for a full calendar year (bonafide residence test) or do not return to the US more than 35 days in a consecutive 12 month period (physical present test), you can exclude up to $91,500 of earned income from U.S. Income Taxation for 2010 and lesser amounts in earlier years. If you are married, and both of you earn income and reside and work abroad, you can also exclude up to another $91,500 (for tax year 2010) of your spouses income from taxation. These exclusions can only be claimed on a filed tax return and is not automatic.
 
busybody said:
he also claims he is a "soldier"

he is teh ONLY soldier that doesnt pay taxes

but teh REAL LOON is YOU

you believe his shit
Click to expand...

I'm just an innocent, naive young man who tries to find the good in my fellow human beings.
 
what people shuld REALLy be pissed at

are

those that have CREATED not ONE job

done ANYTHING ever tangible

TELLIMNG JOB CREATORS HOW TO DO THEIR JOB!
 
JohnnySavage said:
:confused:

Didn't you post that you make $250K a year tax free?
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Since I am currently living in... Kerplakistan, neither living nor working in the US, I have no US federal or state income tax jurisdictions. I pay payroll tax, Medicare tax, the Medicare surtax being used to fund healthcare reform, social security, sales tax, and my wife and I paid $16,241 in capital gains taxes last year.

Secondly, my wife is in the military and her salary is most definitely subject to income tax.

Thirdly, I'm in the USAF reserves and that small segment of my income is hit by income taxes at a high rate.

Lastly, I'm only in this place for a small segment of my career. We're back to the States in the spring after my wife returns from deployment. So I'll be income tax-free for about 3 years out of what will be a 50-year working life.
 
JohnnySavage said:
Please keep up. Merc says, because he earns income overseas he doesn't have to pay US Income Taxes - which is wrong - and then bitches about how much others pay in taxes.
Click to expand...


What's wrong? Lots of countries have policies of not taxing American military contractors. That's one of the recruiting tools contractors use.
 
mercury14 said:
What's wrong? Lots of countries have policies of not taxing American military contractors. That's one of the recruiting tools contractors use.
Click to expand...

Other countries might not tax but the US does. You claim to not have to pay US income tax which is bullshit unless you're making less than 90K.
 
mercury14 said:
What's wrong? Lots of countries have policies of not taxing American military contractors. That's one of the recruiting tools contractors use.
Click to expand...

The United States isn't one of those countries. I could be wrong, but I don't think so and if you can refer me to a section of the IRS code that allows you to have your entire income exempted from US Income tax, I'll apologize. There is an exclusion for up to about 100,000, but not the amount of money you claim to make.
 
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