And you said it couldn't happen

riverman wrote:
"Ken Fortenberry" wrote in message
et...
riverman wrote:
wrote:
I'm with ya, brother...just tell me which one of those rat *******s
forced you into being an expat worker, and I'll not only see about
getting you back to the US, but I'll taunt him unmercifully... Which
one, huh, which one?

Got your back,
R
Yeah, you have a point. Sorry for the bandwidth...
snip
Forgive me if I don't post here for a bit.
That's some pretty thin skin you got there Myron.

The gubmint screwed you with your pants on and neither
Knight nor Dickie Dean has any sympathy for you. So
friggin' what ? You have my sincerest condolences on
your impending financial loss, now quit yer whining.



Nah, its not their lack of sympathy, Ken. I feel a bit embarassed for
bringing it here.

Why ? Is it not something that might come up in a conversation
on a fishing trip ? As in, Man, you won't believe how I got
screwed ? Well then, it's a perfectly good roff post in my ever
so humble opinion.

--
Ken Fortenberry

riverman wrote:

Nah, its not their lack of sympathy, Ken. I feel a bit embarassed for
bringing it here.

You're losing sight of the bigger picture. This bill isn't a tax
increase. It's a tax cut. According to David Cay Johnston of the Tax
Policy Center:

"The top tenth of 1 percent, whose average income is $5.3 million, would
save an average of $82,415. Those in the top group would see their tax
bill cut 4.8 percent, while Americans at the center of the income
distribution — the middle fifth of taxpayers, who will earn an average
of $36,000 this year — could expect a 0.4 percent reduction in their tax
bill, or about $20.

"Those who make less than $75,000 — which includes about 75 percent of
all taxpayers — would save, at most, $110 each. Those making more than
$1 million would save, on average, almost $42,000."

Now do you feel better?

--
Cut "to the chase" for my email address.

On Sat, 20 May 2006 07:57:10 -0600, rw
wrote:

riverman wrote:

Nah, its not their lack of sympathy, Ken. I feel a bit embarassed for
bringing it here.

You're losing sight of the bigger picture. This bill isn't a tax
increase. It's a tax cut. According to David Cay Johnston of the Tax
Policy Center:

"The top tenth of 1 percent, whose average income is $5.3 million, would
save an average of $82,415. Those in the top group would see their tax
bill cut 4.8 percent, while Americans at the center of the income
distribution — the middle fifth of taxpayers, who will earn an average
of $36,000 this year — could expect a 0.4 percent reduction in their tax
bill, or about $20.

So, let's do a little math, forgetting about earned income vs. taxable
income, etc., and just use what you've cut-n-pasted. The person who
earned 5.3 mil would pay around 1.75mil or about a third of their
income, and the 36K person would pay around 5.1K, or about 1/7 of their
income. Tell ya what, since you're a money wiz, I'm gonna let you rip
me off the same way - let's you and I buy 100,000 oz. of gold, and I'll
pay for a 1/7th of it. Then I'll let you screw me over and I'll just
take 49,000 oz rather than half...

And before you go there, I'd suggest that the likelihood is that the 36K
person will use more, over their lifetime, in direct government
benefits/services (for example, schools rather than "universal"
benefits, such as the interstate highway system), than the 5.3 mil
person.

"Those who make less than $75,000 — which includes about 75 percent of
all taxpayers — would save, at most, $110 each. Those making more than
$1 million would save, on average, almost $42,000."

Apparently, no one making under 80K (or now, 82K) will "save" (really,
pay less) anything as they weren't paying anything before. Myron has
implied that he makes under 80K, so he wasn't paying taxes on his salary
income before and won't be now. However, his housing which is provided
to him, is now being calculated differently and some or all of it could
be added to his taxable income (after the first 11K or so). There are
"fringe benefits" which are, or contextually can be, chargeable to
taxable income for those who live and work in the US, too (look at the
"frequent flyer" brouhaha). And frankly, that someone who, as in
article, who makes 75K salary and a 3000USD a month Paris apartment
provided AND who has all the benefits of US citizenship for even 4500USD
a year is getting a deal. That they were previously getting those
benefits for 600USD a year seems the biggest ripoff in the whole deal -
that's not even a Frappimochachino a (business) day...

On Sat, 20 May 2006 13:51:43 GMT, Ken Fortenberry
wrote:

riverman wrote:
"Ken Fortenberry" wrote in message
et...
riverman wrote:
wrote:
I'm with ya, brother...just tell me which one of those rat *******s
forced you into being an expat worker, and I'll not only see about
getting you back to the US, but I'll taunt him unmercifully... Which
one, huh, which one?

Got your back,
R
Yeah, you have a point. Sorry for the bandwidth...
snip
Forgive me if I don't post here for a bit.
That's some pretty thin skin you got there Myron.

The gubmint screwed you with your pants on and neither
Knight nor Dickie Dean has any sympathy for you. So
friggin' what ? You have my sincerest condolences on
your impending financial loss, now quit yer whining.



Nah, its not their lack of sympathy, Ken. I feel a bit embarassed for
bringing it here.

Why ? Is it not something that might come up in a conversation
on a fishing trip ? As in, Man, you won't believe how I got
screwed ? Well then, it's a perfectly good roff post in my ever
so humble opinion.

Heck, I'd not dispute that, but as you yourself have so frequently
pointed out, "post at your own risk"...

wrote:


You using your trout vision to get this perspective?

Willi

"riverman" wrote in message ...


The school is looking at ways to legally accomodate this new law, but
their first impression is that there will be a mass exodus of americans in
the next few years.

I doubt there will be a mass exodus. When it gets right down to it, you need
a new tax accountant. While I am an accountant, I am not a tax accountant
but isn't there some credit for taxes paid in another country? The expats I
do taxes for don't pay a foreign income tax and it's been a while since I
dealt with it.

'First' 80K? Who makes anywhere near $80K? [snip] Also, you get to have a
retirement plan, a ROTH, a representative in the government to protect
your rights, etc. You also get the option to own your housing, and to
write off the interest on your loan against your mortage payment, which is
akin to having your housing paid for and then some.

Do you want me to apologize for working full time, raising a kid, and
getting three degrees after being a ward of the state of Florida while you
were out perfecting your paddling skills? I worked my ass off, took some
lumps, made some mistakes, got a few breaks here and there, but overall just
persevered. Yes, I make more than 80k as I'm sure several here do. some here
make more than me, some make less, so what? I don't get to take summers off
and go all over the world to fish and see places I only dream about in
National geographic. As to my retirement plan, like most non-union
non-public sector employees I'm on a defined contribution plan. I'm
dependent on the stock market and what I can put away in a 403b to eat and
travel on something besides social security. You're right it's a lifestyle
choice, I made mine and I live with it. You got the same government bubba,
but as far as representing "me", I'm a democrat in a republican state

We've been down this road before, but trust me; being an expat worker is
just another slice of real life; it comes with its benefits and its
expenses, but its not the end of the rainbow. Its a choice of lifestyle
based on knowing the benefits and deficits. Getting a tax benefit isn't
some sort of free pass to nevernever land, and when its invoked on a
teacher's salary, and offset by the expenses of living overseas, its not
even such a big thing. My out of pocket expenses for living overseas far
exceed the taxes I'd be paying on my salary if I worked back home.

Maybe you have mis-conception on teacher's salary, last time we got into
this particular ****ing contest I googled up a couple of stories which
mentioned long term teachers in the Chicago area and somewhere near
DC/Baltimore getting 6 figures salaries. Granted these are the exceptions
but teachers are not exactly living in poverty.

But now, the primary benefit just went away, and a huge expense just
increased. Hitting expat workers for a tax hike is just a cheap shot, as
our tax benefit is absolutely nothing compared to the tax release Bush
just gave the ultra rich, and we have no lobby, no legal representation,
and no one looking out for our side. And it generates a very strange type
of sympathetic support for Bush when other 'victims' of his fiscal
mismanagement see him picking on someone else other than them. Its a
smokescreen for the tax cuts to the wealthy.

You know I despise Bush as much as anyone and the overall tax cut does
benefit the higher paying *taxpayers* which I think is wrong in this period
of deficits and supposed war, it alos makes need changes to the alternative
minimum tax which has become more and more a middle class tax trap. And if
you expats had no *lobby*, then why are we reading about it in national
publications? Like I said the first time you brought this up, we have single
moms in this country trying to escape poverty making what you make and
paying taxes. So now you have to pay taxes on your housing, you income is
still tax exempt. In your case it is a very easy fix to keep your money tax
free. Like I said, hire a good tax accountant. He/She will be worth the
$500-$1000 its going to cost you.

On Sat, 20 May 2006 09:58:01 -0600, Willi wrote:

wrote:


You using your trout vision to get this perspective?

Yes.

wrote in message
...

Yeah, Wayne...I just hope you thank God every morning that when they
came to force you into working outside the US, you escaped and have
managed to stay out of their clutches ever since...I'm planning on doing
what I can to help my brother Myron escape - surely you're with us,
aren't ya, my brother?

I worked overseas once, not my cup of tea. At least Saudi Arabia wasn't.

...We've been down this road before, but trust me; being an expat worker is
just another slice of real life; it comes with its benefits and its
expenses, but its not the end of the rainbow. Its a choice of lifestyle
based on knowing the benefits and deficits.....

A choice. Then why the periodic whines?

Wolfgang

...So, let's do a little math, forgetting about earned income vs. taxable
income, etc., and just use what you've cut-n-pasted. The person who
earned 5.3 mil would pay around 1.75mil or about a third of their
income, and the 36K person would pay around 5.1K, or about 1/7 of their
income....

O.k., I'm not real good at math. Maybe you can help me out here.
Which one has $3,550,000 left and which one $30,900 after taxes?

Let me guess.....some of you guys STILL think this filthy little thing
is a human being......right?

Wolfgang
who, last time he looked (just over a month ago) paid the feds about a
fifth of his taxable income.......and is wondering where his millions
went.