$4.8 trillion - Interest on U.S. debt

[mawilson 2,133]

But that's all taxes. Not just federal income taxes. You'll still be far below 50% on those.

True, but taxes are taxes, ya know?

I need to pm you but your box is full.

Email me

[IR5FORMUMSIE 850]

But that's all taxes. Not just federal income taxes. You'll still be far below 50% on those.

True, but taxes are taxes, ya know?

I need to pm you but your box is full.

Email me

Pm me then, seriously.

[IR5FORMUMSIE 850]

Sorry Amby, I tried.

[IR5FORMUMSIE 850]

I need to pm you but your box is full.

Email me

Dude pm me, this is my 2nd attempt. I hope you understand, Amby.

[SnME 3]

If the USA had a Savings Account instead of a national DEBT, then this would NOT be a problem at all.

Savings Accounts can LOSE INTEREST over time.

My last wife is a great example here.

At first, I had a lot of interest. Over time, I realized that the more I put it in, and took it out though, the more I LOST interest. I also got penalized many times for making 'early withdraws' but that is a different story entirely.

Disclaimer:

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Some of the things I say and suggest would cause real people to get hurt, expelled, arrested and possibly deported… Please do NOT try any of my advice at home. If you DO try any of my advice and happen to get in trouble, please be advised that because I spend so much time on the internet, I do not have a lot of money OR friends that could loan me money. A lawsuit for damages, pain and/or suffering would be pointless. I reserve the right to be ‘insensitive’ and unintentional errors or crappy posts made by me may result in some replies being temporarily unavailable .”

[Mr. Big Dog 10,747]

But that's all taxes. Not just federal income taxes. You'll still be far below 50% on those.

True, but taxes are taxes, ya know?

I do. Just trying to get back to the original point of discussion. And trying to compare apples to apples.

[mawilson 2,133]

Pm me then, seriously.

No, I'm serious.

http://www.visajourney.com/forums/index.ph...=00&MID=376

[Heracles 417]

The question is, why shouldn't you be able to write off some of your expenses as a contractor?

Contractors here don't have the same benefits as full-time employees -- health insurance,

flexible spending accounts, 401(k) matching, TransitChek, etc - it's only fair that they get to write off

certain things.

You are right in that a contractor should be able to claim health insurance, 401K matching etc. That is, things that an employer would normally cover. At the end of the day though, a contractor, business owner or salaried employee earning $100K, $200K, $550k etc should effectively pay the same tax, regardless of the source of income.

This disparity in tax is why my bud working in NYC as a contractor, earning close to $300K, is paying less tax than myself and I earn less than him. Not only does he get a range of federal exemptions, he also gets state exemptions. He is a contractor, I am salaried. I don't get to claim my lease, my rent or my meals; whereas he does. That is the sort of ####### that has been closed in Aus. If he was a legitimate business with multiple clients, yes, he too would be able to claim these things in Aus. However, since he only contracts out to one company, he would not be able to claim anything beyond what a standard employee can claim.