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Getbig Main Boards => Politics and Political Issues Board => Topic started by: howardroark on July 14, 2012, 09:37:26 AM
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1. Bush tax cut expiration - Obama has stated that he wishes to extend the Bush tax cuts for those earning under $250,000 for one year. Read that again. That means that in the beginning of 2014, middle and lower-income individuals can expect to see their tax bills increase.
2. Payroll tax cut expiration - The payroll tax cuts for middle and lower-income individuals are set to expire in the beginning of 2013.
3. Comprehensive Health Insurance Plan Tax - Starting in 2018, there will be a 40% tax on comprehensive health insurance plans ($10,200 single/$27,500 family) thanks to Obamacare. This tax is expected to hit a lot of unionized blue collar workers. This is a $32 billion tax hike.
4. High Medical Bills Tax - Starting in 2013, the deduction for medical bills exceeding 7.5% of an individual's adjusted gross income will be cut: the threshold for medical deductions will be raised to 10% of adjusted gross income. This is a $15.2 billion tax hike on the sick.
5. Medicine Cabinet Tax - Americans are no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
6. HSA Withdrawal Tax - Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
7. Special Needs Kids Tax - Beginning of 2013, imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). . There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.
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You think the leftist frauds care one bit? Seriously?
they don't give a shit at all so long as they kneepad Obama.
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what do the liberals on here think of this?
blacken, straw, 240, whork?
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Is 250.000$ a low-income?
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Is 250.000$ a low-income?
250k by two earners in NYC , chi, LA, etc is not rich.
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hmmm, wonder why 240 and blacken havent posted in this thread?
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hmmm, wonder why 240 and blacken havent posted in this thread?
1- a tax cut expiration. That's like me crying about mcdonalds raising the price of Bic Macs cause they won't honor a coupon that expires, right?
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1- a tax cut expiration. That's like me crying about mcdonalds raising the price of Bic Macs cause they won't honor a coupon that expires, right?
so its a take cut when the reps want to extend it but not a tax hike when dems want to get rid of it?
got it...
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Bush didnt make it a permanent thing - it was a temporary cut to the existing tax code.
It expired, which would have returned rates to their NORMAL starting point. When it did, obama chose to renew this discount.
Now, it is expired again. He's not raising taxes. He's allowing a temporary discount to end, and rates to return to their normal levels.
We could be asking why Bush didn't make it a 50-year plan ;) He wnated it to expire in 2010 - he passed one in 2001 and one in 2003, and chose late 2010 because he knew that would benefit his party politically.
SO before you cry about obama raising taxes, as why Bush didn't issue them for more than 7/9 years?
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Bush didnt make it a permanent thing - it was a temporary cut to the existing tax code.
It expired, which would have returned rates to their NORMAL starting point. When it did, obama chose to renew this discount.
Now, it is expired again. He's not raising taxes. He's allowing a temporary discount to end, and rates to return to their normal levels.
We could be asking why Bush didn't make it a 50-year plan ;) He wnated it to expire in 2010 - he passed one in 2001 and one in 2003, and chose late 2010 because he knew that would benefit his party politically.
SO before you cry about obama raising taxes, as why Bush didn't issue them for more than 7/9 years?
ahh so this is bush's fault?
got it...
why do you and the dems say the reps want to cut taxes but extending them?
we hear it all the time, mitt wants tax cuts for the rich...if he is for simply extending the current rate, why is that a tax decrease?
you dont have anything else to say about the other taxes?
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Why are you people arguing semantics? Who cares if its a return to normal levels or a tax hike? It shouldnt happen either way!
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Why are you people arguing semantics? Who cares if its a return to normal levels or a tax hike? It shouldnt happen either way!
So you want to disable military, stop making roads and hospitals etc.?
We owe a lot of money people
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So you want to disable military, stop making roads and hospitals etc.?
We owe a lot of money people
Eh?
Raising taxes when the economy is already shit is a surefire way into another depression.
We need to slash federal spending on bullshit, not tax people more so the government can spend more.
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So you want to disable military, stop making roads and hospitals etc.?
We owe a lot of money people
do you really feel that the govt makes efficient use of our money?
do you really think that there isnt a massive amount of waste in the govt in basically every sector?
if you dont then what issue do you have with cutting the waste and using the savings to cut the deficit and let ppl who earned their own money keep more of it?
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Still nothing?
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not burying this LMFAO
Huggy, Oz, Beach please pin this to the top
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bump for the night
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do you really feel that the govt makes efficient use of our money?
do you really think that there isnt a massive amount of waste in the govt in basically every sector?
if you dont then what issue do you have with cutting the waste and using the savings to cut the deficit and let ppl who earned their own money keep more of it?
I agree there is a lot of waste.
However we are broke so not raising the taxes would be stupid it will generate some $$ and the rich wont miss it they have enough.
Its not perfect but its the hand we have been dealt.
To make rich people even richer in the richest country in the world is not the way to go
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Eh?
Raising taxes when the economy is already shit is a surefire way into another depression.
We need to slash federal spending on bullshit, not tax people more so the government can spend more.
Really? If that were true shouldnt the economy be fucking great by now with the tax cuts?
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Really? If that were true shouldnt the economy be fucking great by now with the tax cuts?
What tax cuts are you speaking of?
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I agree there is a lot of waste.
However we are broke so not raising the taxes would be stupid it will generate some $$ and the rich wont miss it they have enough.
Its not perfect but its the hand we have been dealt.
To make rich people even richer in the richest country in the world is not the way to go
Even if we took away all of the 1% money it would still only fund the govt for like 1/2 a year.
What do you not understand?
WE ARE SPENDING TO MUCH!!!!
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Even if we took away all of the 1% money it would still only fund the govt for like 1/2 a year.
What do you not understand?
WE ARE SPENDING TO MUCH!!!!
Okay well lets dismantle the military then :)
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Okay well lets dismantle the military then :)
::)
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::)
Its great to say we need to cut spending but from where do you want to cut it?
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Its great to say we need to cut spending but from where do you want to cut it?
Everything across the board.
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Its great to say we need to cut spending but from where do you want to cut it?
From the worthless excess in the federal government.
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From the worthless excess in the federal government.
No politician wants that im afraid
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No politician wants that im afraid
*facepalm*
Politicians are supposed to represent the people, not themselves.
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Okay well lets dismantle the military then :)
to think that there isnt waste in the military is as ignorant as thinking there isnt waste in social assistance programs...
fact of the matter is we cant tax ourselves out of the spending hole we are in.
we need to cut spending everywhere
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*facepalm*
Politicians are supposed to represent the people, not themselves.
*facepalm* times 2
What fantasy world are you living in ???
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to think that there isnt waste in the military is as ignorant as thinking there isnt waste in social assistance programs...
fact of the matter is we cant tax ourselves out of the spending hole we are in.
we need to cut spending everywhere
Yup but one does mean we cant do the other
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Yup but one does mean we cant do the other
the question whork, is if it can be done much much more efficiently by cutting cost than raising taxes, why raise taxes?
again obamas tax plan would only fund the govt for like a week...
so if we can make a much larger impact but cutting costs why not let ppl keep more of the money that THEY EARNED?
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BUMP FOR ROMNEYS TAXES
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BUMP FOR ROMNEYS TAXES
;D
Anything at all to avoid discussing Obama's horrific record. Didnt you get the memo?
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YAY TAXES!!!!!!!!!!!!
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YAY TAXES!!!!!!!!!!!!
hey did you hear about Romney riding the jet ski last month?
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hey did you hear about Romney riding the jet ski last month?
hear about it?
there were 4 threads on here started by blacken and 240
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Romney's evil cause he has money and ran a large business, big business' are bad because they make more money than normal people. Therefore all normal people shouldnt vote for Romney.
/Obama logic
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Romney's evil cause he has money and ran a large business, big business' are bad because they make more money than normal people. Therefore all normal people shouldnt vote for Romney.
/Obama logic
Ppl who dont show their taxes could be criminals, Romney wont show his taxes, Romney could be a felon
Obama Logic :)
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Ppl who dont show their taxes could be criminals, Romney wont show his taxes, Romney could be a felon
Obama Logic :)
people who don't shoe their college records or SATs scores could be D students
Obama logic.
;D
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Romney's evil cause he has money and ran a large business, big business' are bad because they make more money than normal people. Therefore all normal people shouldnt vote for Romney.
/Obama logic
Fuck Romney. He should have ran all his funds into the ground and shown all those pension funds and unions that invested in them what's what!
Fun fact: The largest investors in most PE funds are union pensions. CALPERS has approximately 46 BILLION of total exposure to PE funds.
LOL
LOL
LOL
Seems leftists don't mind outsourcing when it keeps their pension fund growing.
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Bush didnt make it a permanent thing - it was a temporary cut to the existing tax code.
It expired, which would have returned rates to their NORMAL starting point. When it did, obama chose to renew this discount.
Now, it is expired again. He's not raising taxes. He's allowing a temporary discount to end, and rates to return to their normal levels.
We could be asking why Bush didn't make it a 50-year plan ;) He wnated it to expire in 2010 - he passed one in 2001 and one in 2003, and chose late 2010 because he knew that would benefit his party politically.
SO before you cry about obama raising taxes, as why Bush didn't issue them for more than 7/9 years?
You don't actually believe this kneepadding bullshit, do you?
When a tax cut expires THAT'S A TAX HIKE.
And why did Bush only make the tax cuts ten years? Because of the Democrats. (http://en.wikipedia.org/wiki/Byrd_Rule)
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the question whork, is if it can be done much much more efficiently by cutting cost than raising taxes, why raise taxes?
again obamas tax plan would only fund the govt for like a week...
so if we can make a much larger impact but cutting costs why not let ppl keep more of the money that THEY EARNED?
We are number 65? i think in income disparity we can raise taxes no problem. I actually think it would be healthy for the Nation. Maybe it will create a tighter bond between americans with the feeling everybody is helping out?
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people who don't shoe their college records or SATs scores could be D students
Obama logic.
;D
I want to run for the most prestigious post on earth where my life will be public information yet i wont release something as simple as my tax records.
Romney logic.
;)
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I want to run for the most prestigious post on earth where my life will be public information yet i wont release something as simple as my tax records.
Romney logic.
;)
or college records...
by the way romney released tax records just not all of them.
where are the partial release of obamas college records?
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BIZUMP!!!
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We are number 65? i think in income disparity we can raise taxes no problem. I actually think it would be healthy for the Nation. Maybe it will create a tighter bond between americans with the feeling everybody is helping out?
Since when is punishing productive behavior "no problem" for the economy?
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Since when is punishing productive behavior "no problem" for the economy?
lets ignore for the moment that fact that one of the most respected accounting/consulting firm in the world says we could lose 700K jobs.
so you are in favor of making everyone pay income tax then? not just the "wealthy"?
I assume you know that the majority of the country doesnt pay federal income tax and that many actually get money back?
so you would make sure they dont get money back and actually pay in?
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Since when is punishing productive behavior "no problem" for the economy?
So raising taxes on the filthy rich is punishing productive behaviour?
I dont see the rich working hard do you? I see them flying around in jets and shit
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So raising taxes on the filthy rich is punishing productive behaviour?
I dont see the rich working hard do you? I see them flying around in jets and shit
yes and the poor just sit around and drink 40's all day ::)
I cant tell if youre a gimmick or just a ignorant dumb ass, cudos either way!!!
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lets ignore for the moment that fact that one of the most respected accounting/consulting firm in the world says we could lose 700K jobs.
so you are in favor of making everyone pay income tax then? not just the "wealthy"?
I assume you know that the majority of the country doesnt pay federal income tax and that many actually get money back?
so you would make sure they dont get money back and actually pay in?
no answer whork?
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lets ignore for the moment that fact that one of the most respected accounting/consulting firm in the world says we could lose 700K jobs.
so you are in favor of making everyone pay income tax then? not just the "wealthy"?
I assume you know that the majority of the country doesnt pay federal income tax and that many actually get money back?
so you would make sure they dont get money back and actually pay in?
If you want me to answer you need to speak truth and accept facts first:
http://www.tnr.com/blog/jonathan-chait/89076/the-tax-freeloader-myth
You have bought a lie my friend i really hope you are filthy rich otherwise you look very stupid now
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If you want me to answer you need to speak truth and accept facts first:
http://www.tnr.com/blog/jonathan-chait/89076/the-tax-freeloader-myth
You have bought a lie my friend i really hope you are filthy rich otherwise you look very stupid now
I dont believe I ever said 50% dont pay any taxes. I said 50% dont pay federal income tax...
from your own link "The 51 percent figure covers only the federal income tax "
you see you want to pick and choose but the fact is obama wants to raise the FEDERAL INCOME TAX level and 50% dont pay any federal income tax
you need to accept facts!!!!
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I dont believe I ever said 50% dont pay any taxes. I said 50% dont pay federal income tax...
from your own link "The 51 percent figure covers only the federal income tax "
you see you want to pick and choose but the fact is obama wants to raise the FEDERAL INCOME TAX level and 50% dont pay any federal income tax
you need to accept facts!!!!
•Most of the people who pay neither federal income tax nor payroll taxes are low-income people who are elderly, unable to work due to a serious disability, or students, most of whom subsequently become taxpayers. (In a year like 2009, this group also includes a significant number of people who have been unemployed the entire year and cannot find work.)
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•Most of the people who pay neither federal income tax nor payroll taxes are low-income people who are elderly, unable to work due to a serious disability, or students, most of whom subsequently become taxpayers. (In a year like 2009, this group also includes a significant number of people who have been unemployed the entire year and cannot find work.)
AND???????
you first said the number was wrong and now that its been shown to be true you try and justify it?
fuking really?
the point is that 50% of ppl dont pay federal income tax, many actually get money back...
would you make sure that they actually pay to make it "fair" or are you only for making sure the "rich" pay more then the something like 90% of the federal income tax collected already?
you are the one who needs to get their facts straight whork. If you want to take money away from the rich b/c the have more then fine, but dont sit there and act like its in an attempt to be fucking fair.
they already pay like 90% of whats collected while 50% of the population pay no federal income tax.
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So raising taxes on the filthy rich is punishing productive behaviour?
I dont see the rich working hard do you? I see them flying around in jets and shit
How do you think "the filthy rich" got that way?
What earns money in a free market? PRODUCTIVE BEHAVIOR. That includes not only manual work - which is what you seem to be equating productive behavior to - but, among other things, investing in assets and managing the productive activities of others. "The filthy rich" got that way because they engage in these last two activities I mentioned, which tend to be the MOST productive activities one can engage in.
If you really think that Steve Jobs, Bill Gates, Warren Buffett, Henry Ford, etc. got "filthy rich" by "flying around in jets and shit" then you are completely detached from reality.
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How do you think "the filthy rich" got that way?
What earns money in a free market? PRODUCTIVE BEHAVIOR. That includes not only manual work - which is what you seem to be equating productive behavior to - but, among other things, investing in assets and managing the productive activities of others. "The filthy rich" got that way because they engage in these last two activities I mentioned, which tend to be the MOST productive activities one can engage in.
If you really think that Steve Jobs, Bill Gates, Warren Buffett, Henry Ford, etc. got "filthy rich" by "flying around in jets and shit" then you are completely detached from reality.
Rich people dont get rich by sitting on their ass smoking cigars.
That comes AFTER they've made their fortune. ;D
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lets ignore for the moment that fact that one of the most respected accounting/consulting firm in the world says we could lose 700K jobs.
so you are in favor of making everyone pay income tax then? not just the "wealthy"?
I assume you know that the majority of the country doesnt pay federal income tax and that many actually get money back?
so you would make sure they dont get money back and actually pay in?
Bump for an answer...
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How do you think "the filthy rich" got that way?
What earns money in a free market? PRODUCTIVE BEHAVIOR. That includes not only manual work - which is what you seem to be equating productive behavior to - but, among other things, investing in assets and managing the productive activities of others. "The filthy rich" got that way because they engage in these last two activities I mentioned, which tend to be the MOST productive activities one can engage in.
If you really think that Steve Jobs, Bill Gates, Warren Buffett, Henry Ford, etc. got "filthy rich" by "flying around in jets and shit" then you are completely detached from reality.
True but doesnt mean shit if the productive behaviour takes place in India now does it?
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True but doesnt mean shit if the productive behaviour takes place in India now does it?
actually it does, where do you think the money they make is deposited in banks?
what do you think the banks do with that money?
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Obama: Letting People Keep Their Own Money Is a "Giveaway" from the Government
ATR ^ | 2012-07-27 | Ryan Ellis
Posted on Monday, July 30, 2012 10:46:11
On Wednesday, President Obama argued that not raising taxes on certain households amounts to a "giveaway" from the government.
On Thursday, White House spokesman Jay Carney repeated and defended the term "giveaway."
Chalk it up as another example of a "You didn't build that" worldview.
During the Thursday press briefing, ABC News senior White House correspondent Jake Tapper asked Carney why the White House uses the term "giveaway":
Jake Tapper: You used the word "giveaway", and President Obama, in his statement yesterday, used the word "giveaway," referring to the extension of the lower Bush tax cut rates for I guess the top 1 or 2 percent of the country -- people making over $200,000 a year, or couples making $250,000. What do you say to a small business owner who says, that's not a giveaway, that's my money, and by the way, I'm going to need some of that money in order to help pay the health care of individuals that I'm now mandated to do? It's not giving anything away, it's allowing me to keep my money.
Carney repeatedly defended the term and then pivoted to misleading talking points about small businesses:
Carney: "97 percent of people who file -- small businesses that file taxes under the individual tax code will receive this tax cut."
Reality: Only in Washington is preventing a tax increase from happening considered a "tax cut." If your tax rate and tax burden is the same next year as it is this year, you didn't get a tax cut. You simply didn't have your taxes raised.
The White House is correct that most people with small business income make less than $200,000 per year. But the majority of small employer profits do face taxation in the tax brackets President Obama wants to raise. These businesses employ a majority of all workers in the small business sector. Finally, 3 percent of small businesses is still 1 million small businesses all across America (i.e., the job-creating and successful ones) facing higher marginal income tax rates.
Carney: "The President believes that small businesses are so important that he has dedicated a lot of energy and focus on providing tax credits and tax incentives and tax cuts to small businesses throughout his three and a half years in office."
Reality: Really? Do most job-creating small employers think that the Obama Administration has been a boon for them? It's true that Obama didn't shrink the small business "Section 179" expensing levels he inherited, but that's hardly a tax cut for small business. He also put in place a small employer health credit that is so complicated, no one is actually using it.
At the same time, the Obama Administration is urging a hike in the marginal tax rate on 1 million small businesses. These businesses earn the majority of small employer profits, and employ the overwhelming majority of Americans working for a small business.
Then there's Obamacare. There are 20 new or higher taxes in that law, totaling $1 trillion in net tax hikes. One was repealed already--onerous reporting requirements on small business (Carney is likely claiming credit for that, too). But there's still the employer mandate, the tax hike on small medical device manufactuers, the tanning tax (all of those businesses are small), and the increase in the Medicare payroll tax rate (which many small business owners pay on every penny of earnings). Most small business owners would prefer that President Obama stop "helping" them, in fact.
This is just another example of how President Obama's White House believes that small business owners "didn't build that," and how the government letting small employers keep their own money is a "giveaway."
The full transcript of Carney's press briefing can be found here.
Read more: http://atr.org/obama-letting-people-their-own-money-a7078#ixzz227JzHh9b
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True but doesnt mean shit if the productive behaviour takes place in India now does it?
Oh, it does improve our living standards. Try giving up buying foreign goods for good and we'll see how quickly your living standards plummet.
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1. Bush tax cut expiration - Obama has stated that he wishes to extend the Bush tax cuts for those earning under $250,000 for one year. Read that again. That means that in the beginning of 2014, middle and lower-income individuals can expect to see their tax bills increase.
2. Payroll tax cut expiration - The payroll tax cuts for middle and lower-income individuals are set to expire in the beginning of 2013.
3. Comprehensive Health Insurance Plan Tax - Starting in 2018, there will be a 40% tax on comprehensive health insurance plans ($10,200 single/$27,500 family) thanks to Obamacare. This tax is expected to hit a lot of unionized blue collar workers. This is a $32 billion tax hike.
4. High Medical Bills Tax - Starting in 2013, the deduction for medical bills exceeding 7.5% of an individual's adjusted gross income will be cut: the threshold for medical deductions will be raised to 10% of adjusted gross income. This is a $15.2 billion tax hike on the sick.
5. Medicine Cabinet Tax - Americans are no longer able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
6. HSA Withdrawal Tax - Increases additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
7. Special Needs Kids Tax - Beginning of 2013, imposes cap of $2500 (Indexed to inflation after 2013) on FSAs (now unlimited). . There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children. There are thousands of families with special needs children in the United States, and many of them use FSAs to pay for special needs education. Tuition rates at one leading school that teaches special needs children in Washington, D.C. (National Child Research Center) can easily exceed $14,000 per year. Under tax rules, FSA dollars can be used to pay for this type of special needs education.
YAY TAXES!!!!
Cant wait to pay more b/c we all know the govt is under funded and in dire need of more money.
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Bump for the middle class tax haters
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WHO LOVES TAXES???
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Bump for the liberals who hate middle class tax hikes...