191 Early Out retirement takers at DL

[tomgoodman]

Tom, is it true when you retire they take you to a back office and reveal "the big picture"?

Yes, and also the secret of the "rocking chair". As a precaution, they have a paramedic standing by.

 

[DYLIN]

Most of the guys that went were in the 59-60 age group. Got better part of severance and medical payouts. Think I've heard there are 150+ in their last 2 years that also will be gone soon. They would have got little severance/medical. And with a net 12.5% pay increase in Jan. '13 why leave? Depending on upcoming events in the coming weeks, pilot apps may open on 1 OCT with interviews in JAN '13. But the next industry "Big Bang" may change all that which would offset the retirement/pilot shortages that are projected here at Monroe's Starship!

Can you elaborate on your rationale for that timeline?

Interviews in the month of January would get people into class in February-March-April and beyond and most of them would not get in the airplane until the summer when it's peak season.

Or does peak season not matter as much anymore with the new contract?

Just wondering the reasons behind your thoughts as I can't find any.

 

[PBRstreetgang]

Tom, is it true when you retire they take you to a back office and reveal "the big picture"?

It's a picture of Genny, in a Brazilian banana hammock, with untrimmed foliage.
Most leave the office legally blind after prying their eyes out with a pickle fork.

 

[Smarta$$]

Bingo. I'm saving like crazy, and trying to keep a flat standard of living. The wildcards are inflation, and how much I am taxed since I am "rich" going forward.

Give me a break. If you make 251k, you would pay the extra "rich" 3.6% income tax on 1k. One thousand dollars. One WHOLE thousand dollars.... would be a whopping 36 dollar tax increase....

And that assumes you have no deductions, which you do.

I think you will be just fine there big-shot.

 

[Whataburger]

It's a picture of Genny, in a Brazilian banana hammock, with untrimmed foliage.
Most leave the office legally blind after prying their eyes out with a pickle fork.

That's good clean FI fun right there.

 

[bluesideup1]

Give me a break. If you make 251k, you would pay the extra "rich" 3.6% income tax on 1k. One thousand dollars. One WHOLE thousand dollars.... would be a whopping 36 dollar tax increase....

And that assumes you have no deductions, which you do.

I think you will be just fine there big-shot.

Isn't it when you go over 250k it bumps you into the higher tax bracket which an increase of 3.6% to a topped out tax bracket of 39.6% would mean at least an increase of $9,036 on top of the $87,500 of Just federal taxes that is being paid before any deductions. By the time you take SS, local, state, property and of course don't forget the additional TAXES as ruled by the supreme court that Obama also wants from employers, people making over $200,000, even your own "Cadillac" health insurance to help pay for Obamacare. It comes close to about 50% of your income going to taxes.

All this while around 49% pay little to no taxes.

 

[Diesel-9]

It comes close to about 50% of your income going to taxes.

All this while around 49% pay little to no taxes.

And don't forget that many of the deductions start to phase out at levels below this or aren't allowed at all. Plus the wonderful AMT. That cost me $6000 a year. Had $20,000 medical bills last year, not enough to deduct any of it. Our tax system is hilarious and unfair. R E D I S T R I B U T I O N !!!!!!!http://en.wikipedia.org/wiki/Redistribution_of_wealth

 

[MountainFreak]

Isn't it when you go over 250k it bumps you into the higher tax bracket which an increase of 3.6% to a topped out tax bracket of 39.6% would mean at least an increase of $9,036 on top of the $87,500 of Just federal taxes that is being paid before any deductions. By the time you take SS, local, state, property and of course don't forget the additional TAXES as ruled by the supreme court that Obama also wants from employers, people making over $200,000, even your own "Cadillac" health insurance to help pay for Obamacare. It comes close to about 50% of your income going to taxes.

All this while around 49% pay little to no taxes.

NO!! I swear, if you are going to work you should have a basic understanding of our tax structure.

We have a system of marginal tax rates, meaning you only pay the higher rate on income above the threshold. Simple hypothetical example: Say all income below $30,000 is taxed at 10%, income from $30,000 to $250,000 is taxed at 30%, and income above $250,000 is taxed at 40%. Today you make exactly $250,000. You pay taxes at the rate of -you guessed it- 10% on your first $30,000 and 30% on your income from 30K to 250K. Now tomorrow you get a one dollar raise, and make $250,001. You will pay the exact same taxes as yesterday, except now you will pay 40% on that $1 rather than 30%. So your taxes went up by 10 cents.

This assumes you have zero exemptions or deductions. It also assumes you aren't a CEO who is paid in stock options, and only pays the capital gains rate of 15%. It also assumes you turn off Fox News long enough to learn the tax code before you write the check.

Finally, just food for thought- in the 1950's, during the biggest boom ever, during a Republican administration, we had marginal tax rates in the 80% and 90% range for extremely high incomes. Lots of factors involved in why the economy was so good then, but just pointing out that current tax rates are pretty low in relative terms.

 

[MountainFreak]

And don't forget that many of the deductions start to phase out at levels below this or aren't allowed at all. Plus the wonderful AMT. That cost me $6000 a year. Had $20,000 medical bills last year, not enough to deduct any of it. Our tax system is hilarious and unfair. R E D I S T R I B U T I O N !!!!!!!http://en.wikipedia.org/wiki/Redistribution_of_wealth

We have redistribution of wealth for sure; from the working, middle and even upper incomes to the "super" wealthy.

I do agree completely on the AMT. It bogus and the one part of our tax code that can actually make you end up with less cash in your pocket due to making more income.

 

[Smarta$$]

NO!! I swear, if you are going to work you should have a basic understanding of our tax structure.

We have a system of marginal tax rates, meaning you only pay the higher rate on income above the threshold. Simple hypothetical example: Say all income below $30,000 is taxed at 10%, income from $30,000 to $250,000 is taxed at 30%, and income above $250,000 is taxed at 40%. Today you make exactly $250,000. You pay taxes at the rate of -you guessed it- 10% on your first $30,000 and 30% on your income from 30K to 250K. Now tomorrow you get a one dollar raise, and make $250,001. You will pay the exact same taxes as yesterday, except now you will pay 40% on that $1 rather than 30%. So your taxes went up by 10 cents.

This assumes you have zero exemptions or deductions. It also assumes you aren't a CEO who is paid in stock options, and only pays the capital gains rate of 15%. It also assumes you turn off Fox News long enough to learn the tax code before you write the check.

Finally, just food for thought- in the 1950's, during the biggest boom ever, during a Republican administration, we had marginal tax rates in the 80% and 90% range for extremely high incomes. Lots of factors involved in why the economy was so good then, but just pointing out that current tax rates are pretty low in relative terms.

Exactly right. ALL of it. If you don't understand this already, you have NO business having political/tax debates or discussions, as you don't know you head from your A$$$.