|
| Posted By |
Message |
seaside
LIF Adult
Member since 6/08 3101 total posts
Name:
|
Really ignorant question
I have been reluctant to join the healthcare debate because I know too little about the plan and abut how taxes work to speak intelligently. Can someone help me out? OK. So Obama says that those who make 350k and up pay a special tax to help with it (let's just say). Do they get taxed on their entire salaries, or just the amt. over 350k? Do we look at a family's income after 401k's are paid/felx, etc., or before? Can someone give me the basics of how this all works?
|
Posted 7/24/09 9:31 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
|
Re: Really ignorant question
it's based on your adjusted gross income (AGI). 401(k), current health care deductions are all pre-tax deductions. So, you subtract those out of your gross income to get your AGI. That is the number you would be taxed on for the health plan.
|
| Posted 7/24/09 10:19 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Really ignorant question
I think the number being discussed is now $1 million?
|
| Posted 7/24/09 10:28 AM |
| |
|
seaside
LIF Adult
Member since 6/08 3101 total posts
Name:
|
Re: Really ignorant question
Thanks! 
|
| Posted 7/24/09 1:54 PM |
| |
|
Potentially Related Topics:
Currently 1791556 users on the LIFamilies.com Chat
|
