Confirmed with Link: Coyotes Sign Jack McBain, 2 years ($1.6M AAV)

[Schemp]

BA wanted to get his 2 cents worth in I guess.

Wouldn't that be in violation of the cap, to pay in cash and not report it (tic).

 

[JasonDemersWasOkay]

I have a feeling by next season Mcbain will be underpaid

 

[TheLegend]

Wouldn't that be in violation of the cap, to pay in cash and not report it (tic).

I dunno…. does BA’s pay count against the cap??

 

[Schemp]

I dunno…. does BA’s pay count against the cap??

...but he gave his 2 cents to McBain!

 

[PHX FireBirds18]

I have a feeling by next season Mcbain will be underpaid

I feel he already is. To me McBain is a huge part of this culture change that seems to be going on. Guys like him are exactly what BA wants going forward. Shades of Dallas Drake.

 

[zerekstar]

Why did they short him by $0.02 ?

Lower tax bracket

 

[wbwing]

I feel he already is. To me McBain is a huge part of this culture change that seems to be going on. Guys like him are exactly what BA wants going forward. Shades of Dallas Drake.

Absolutely. Just feel like he is the absolute embodiment of what Bill Armstrong Coyotes hockey wants to be. Good enough to play with skill, can't wait to see him in the playoffs I hope. The attitude is everything and just seems the player every team is desperate to find more of. Depending on how his body holds up, core piece for a long time I hope.

 

[TheLegend]

Man… nobody thought of this yet??

 

[Edenjung]

Sadly No GIF with them together

 

[LittlePipes]

Somebody on the forum last yr tagged mcbain as “axe murderer”. for some reason i like that one. his checks can be tough on the opponent. i still think he should play in a tshirt with a cigarette dangling from his mouth.

 

[MIGs Dog]

embodiment of what Bill Armstrong Coyotes hockey wants to be.

yep. Some scoring (12-14-26) and a ton of physicality.

 

[The Feckless Puck]

Somebody on the forum last yr tagged mcbain as “axe murderer”. for some reason i like that one. his checks can be tough on the opponent. i still think he should play in a tshirt with a cigarette dangling from his mouth.

 

[PHX FireBirds18]

Absolutely. Just feel like he is the absolute embodiment of what Bill Armstrong Coyotes hockey wants to be. Good enough to play with skill, can't wait to see him in the playoffs I hope. The attitude is everything and just seems the player every team is desperate to find more of. Depending on how his body holds up, core piece for a long time I hope.

Agreed. We all yearn for the 50 goal scorer or a true top line center man. The need for need elite bottom 6 players often gets overlooked on championship teams. Obviously Barbashev being the most recent example of impact. We have players now that take a little pride in their organization. I love that people hate playing us for multiple reasons and don’t see us as an easy win. Even Cooleys response to the outside rink noise was awesome because he genuinely looked pissed that it was asked. We finally have a pack mentality!

 

[Sinurgy]

Lower tax bracket

I don't know how it works in Canada but that's not how taxes work here. You're essentially always better off making more money, going up and down in tax brackets does not change that.

 

[Kaizen]

I don't know how it works in Canada but that's not how taxes work here. You're essentially always better off making more money, going up and down in tax brackets does not change that.

I think it was a dig at the perception some people have that getting into the next tax bracket will "put less money in your pocket" which of course is nonsense.

 

[Kai Yo T]

,,I don't know how it works in Canada but that's not how taxes work here. You're essentially always better off making more money, going up and down in tax brackets does not change that.

I think it was a dig at the perception some people have that getting into the next tax bracket will "put less money in your pocket" which of course is nonsense.

What about a scenario like this, based on the 2023 Federal Income Tax Brackets?

2023 Rates (partial):
Income: $11,000 to $44,725, Federal tax rate of 12%
- VS -
$44,725 to $95,325, Federal tax rate of 22%

Scenario:

Person just got a raise from $40,000 to $45,000. Federal tax rate almost doubles.

Taxes paid at $40,000 salary: $4,800
Taxes paid at $45,000 salary: $9.900

Increase in salary: $5,000
Increase in Federal taxes: $5,100

Or how about with a higher income:

$180,000 salary @ 24% = $43,200 in Federal taxes
$185,000 salary @ 32% = $59,200 in Federal taxes

Increase in salary: $5,000
Increase in Federal taxes: $16,000

Over twenty years ago I had a friend that went back to his boss (can't remember the outcome) and talked to him about how he was making less in net income after getting a raise due to just barely making it into the next higher tax bracket.

 

[Sinurgy]

What about a scenario like this, based on the 2023 Federal Income Tax Brackets?

2023 Rates (partial):
Income: $11,000 to $44,725, Federal tax rate of 12%
- VS -
$44,725 to $95,325, Federal tax rate of 22%

Scenario:

Person just got a raise from $40,000 to $45,000. Federal tax rate almost doubles.

Taxes paid at $40,000 salary: $4,800
Taxes paid at $45,000 salary: $9.900

Increase in salary: $5,000
Increase in Federal taxes: $5,100

Or how about with a higher income:

$180,000 salary @ 24% = $43,200 in Federal taxes
$185,000 salary @ 32% = $59,200 in Federal taxes

Increase in salary: $5,000
Increase in Federal taxes: $16,000

Over twenty years ago I had a friend that went back to his boss (can't remember the outcome) and talked to him about how he was making less in net income after getting a raise due to just barely making it into the next higher tax bracket.

That's not how it works though, you only get taxed on the portion of income that is in the higher bracket. So using your higher earner example, the extra $5000 would be taxed at 32%, not the entire $185,000. You're not alone in misunderstanding this, a lot of people do actually, hence why the myth persists that by making more money you're actually making less because it puts you in a higher tax bracket.

I don't know what the actual brackets are but for the sake of explanation, here is a made up version that illustrates how it works:

$150k salary
0 - $50k @ 10% so 50,000 * .1 = $5000
50k - $125k @ 23% so 75,000 * .23 = $17250
125k - $200k @ 35% so 25,000 * .35 = $8750

Total taxes paid = $31000

As you can see, the more money you make, the more money you make, you don't make less because of brackets. Anyone getting taxed at say 35% should consider themselves fortunate because it means they're making at least $125,000 a year (in my hypothetical example).

 

[Dirty Old Man]

What about a scenario like this, based on the 2023 Federal Income Tax Brackets?

2023 Rates (partial):
Income: $11,000 to $44,725, Federal tax rate of 12%
- VS -
$44,725 to $95,325, Federal tax rate of 22%

Scenario:

Person just got a raise from $40,000 to $45,000. Federal tax rate almost doubles.

Taxes paid at $40,000 salary: $4,800
Taxes paid at $45,000 salary: $9.900

Increase in salary: $5,000
Increase in Federal taxes: $5,100

Or how about with a higher income:

$180,000 salary @ 24% = $43,200 in Federal taxes
$185,000 salary @ 32% = $59,200 in Federal taxes

Increase in salary: $5,000
Increase in Federal taxes: $16,000

Over twenty years ago I had a friend that went back to his boss (can't remember the outcome) and talked to him about how he was making less in net income after getting a raise due to just barely making it into the next higher tax bracket.

ummmm....okay.... if you've never been exposed to this, you need to be:

Understanding Progressive, Regressive, and Flat Taxes

Progressive, regressive, and flat taxes are all different tax systems governments can deploy. Learn what each of these types of taxation means for you.

turbotax.intuit.com

Bottom line, you'll never pay more tax in federal income taxes in the US than your raise, other factors notwithstanding... if you do pay more, you had other factors involved (e.g. mortgage, dividends, interest, etc.)

 

[Kai Yo T]

That's not how it works though, you only get taxed on the portion of income that is in the higher bracket. So using your higher earner example, the extra $5000 would be taxed at 32%, not the entire $185,000. You're not alone in misunderstanding this, a lot of people do actually, hence why the myth persists that by making more money you're actually making less because it puts you in a higher tax bracket.

Ah, ok. I just looked it up to verify and you are correct. Thanks for clarifying, that's good to know.

Also, it appears that once a person is making over $580,000 they've already hit the highest federal tax bracket of 37% anyways, so I guess that means that McBain's contract dollar amount has nothing to do with an impact on federal taxes either way. Unless I'm again missing something lol.

 

[Dirty Old Man]

...if you really want to twist your head around, I was in a situation where I was about to get screwed by the Alternative Minimum Tax (the details escape me; I was at a level that required to fill out the worksheet for a few years but never had a tax increase)...but they have apparently 'fixed the glitch' - the AMT was starting to affect people it wasn't intended to affect.

 

[Kai Yo T]

...if you really want to twist your head around, I was in a situation where I was about to get screwed by the Alternative Minimum Tax (the details escape me; I was at a level that required to fill out the worksheet for a few years but never had a tax increase)...but they have apparently 'fixed the glitch' - the AMT was starting to affect people it wasn't intended to affect.

Yeah, that's obviously beyond me haha! Learned something new today, so there's that lol.

 

[Dirty Old Man]

Yeah, that's obviously beyond me haha! Learned something new today, so there's that lol.

Cool. Now when someone proposes some tax plan, you can say "hey, waaaaaait a minute....", which is the entire idea behind having an "educated populace"

 

[zerekstar]

I don't know how it works in Canada but that's not how taxes work here. You're essentially always better off making more money, going up and down in tax brackets does not change that.

it's always better to make more. I was just kidding but yes we do have tax brackets where the % goes up at different levels of income.

 

[rt]

Craig basically said this was the ownership being asshats and proving a point by not going to 1.6 and making him sign 1,599,999.99 - they think it makes themselves seem formidable instead of laughable. The way Craig talked about this is the way he talks about things when he has a source and doesn’t want to say he has a source. Nobody else has to believe it but I sure do.

 

[Fyreman]

Craig basically said this was the ownership being asshats and proving a point by not going to 1.6 and making him sign 1,599,999.99 - they think it makes themselves seem formidable instead of laughable. The way Craig talked about this is the way he talks about things when he has a source and doesn’t want to say he has a source. Nobody else has to believe it but I sure do.

Hmmm, making $1,599,999.99 a year? Let me think about that for a while, I'm buying my Mega Millions lottery ticket...