Author Topic: STUPID White House, STUPID Democratic party..No clue how small businesses work  (Read 1180 times)

dario73

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Health Reform: Despite White House claims no one has to pay ObamaCare's individual mandate tax until next year, a Web heavyweight points out that self-employed individuals file their estimated taxes this year for 2014.

In what could be the tweet heard around the world, Internet icon Matt Drudge tweeted at 11:09 a.m. Friday:

"Just paid the ObamaCare penalty for not 'getting covered' ... I'M CALLING IT A LIBERTY TAX!"

A mere 22 minutes later, White House spokesman Jesse Lee tweeted: "Flat lie, no fee for previous year."

Lee's tweet shows just how little the White House knows about business, particularly small business, and the self-employed individuals such as Matt Drudge who file as small businesses and who each year must not only settle up for the prior year by mid-April but must also pay their first-quarter estimated taxes for the current year.

The Obama administration's media sycophants were no better informed, with the Washington Post's Greg Sargent blogging by midafternoon:

"Matt Drudge proudly tells the world he paid the penalty for not having health coverage, which he has termed the 'liberty tax.' Which is odd, because no one has to pay the penalty until they file their 2014 tax returns in April 2015."

While some, such as Timothy Geithner, can be Treasury secretary in the Obama administration while playing fast and loose with skirting their tax obligation, self-employed individuals who operate as small businesses do not. This is particularly true of right-wing notables, something Drudge explained to the hyperventilating left in a subsequent tweet.

Drudge indicated in follow-up tweets that since he is self-employed as proprietor of the Drudge Report, he files as a small business. Drudge followed up with "Dazed team Obama media reporters think Opt-Out tax 'year away'? Not for small businesses that file Qtr estimates. We're there NOW, baby."

"As a self-employed individual, generally you are required to file an annual return and pay estimated tax quarterly," the IRS website states.

IRS form (1040-ES) for estimating quarterly taxes specifically recommends adding the mandate penalty to line 12 for "other taxes" — to pay before the first quarterly deadline of April 15.

"It is true that thousands of small businesses will be forced to pay ObamaCare taxes quarterly in 2014," a Senate Budget Committee aide told Breitbart News on Friday afternoon.

An administration elected by low-information voters is populated with low-information officials who are ignorant of the laws they are charged to enforce even though they often misuse them — as in the case of IRS targeting of Tea Party groups — for their own political purposes.



Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials-obama-care/032414-694425-matt-drudge-pays-obamacare-liberty-tax.htm#ixzz2wyaMR0LU
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dario73

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The media that still carries the water for this disastrous administration is just as stupid.

http://www.rushlimbaugh.com/daily/2014/03/24/drudge_shines_light_on_ignorant_media

Drudge Shines Light on Ignorant Media

RUSH:  I think the mainstream media is pig-ignorant of practically every discipline except party discipline.  Now, here's basically what happened.  Matt Drudge is a self-employed small businessman.

As a result, Matt Drudge pays himself.

He does not have an employer.  Therefore, he does not the get paychecks that contain all kinds of withholding for taxes and Medicare and FICA, Social Security, and whatever else.  He has to pay all of his taxes separately and independently because they're not deducted.  As such, as a small businessman, Matt Drudge and millions of others just like him -- including your harmless, lovable little fuzzball host -- pay our taxes every quarter.

We have to pay what are called quarterly estimates.  This is what Matt Drudge does, and it can get a little complicated.  April 15th, the first payment is due.  June the 15th, the second payment is due.  September 15th, the third payment is due.  And on January 15th of the next year, the fourth and final payment is due.  Therefore, the first payment for the 2015 income tax year, Matt Drudge has to pay it on April the 15th, as does everybody else who files quarterly estimate.

This simple fact is something that the smartest (by reputation) mainstream media reporters simply cannot understand and cannot get their arms around.  Matt Drudge sent out a tweet on Friday in which he said that his first quarterly estimate coming up in April he will be paying his Obamacare penalty for not having insurance. In his tweet, he called it "a liberty tax," and the media jumped all over him!

They called him a liar.  They told him he didn't know what he was talking about.  Mainstream media reporters! The White House jumped all over Drudge with their agents on Twitter, Facebook, and the rest of the mainstream media. They said that Drudge was lying to embarrass Obama, that Drudge didn't know what he was talking about, that Drudge was stupid and  that you don't have to pay your Obamacare penalty until 2015 because it's been delayed for a year.

Matt Drudge pointed out, "No, not for us.  I have to pay my 2015 taxes starting in April of 2014," and they can't understand this.  It is amazing the degree of ignorance.  He has talked to three or four of these people in person.  The last one he talked to has admitted that he's probably not lying but that he still doesn't have to do what he's doing.  The fact of the matter is, when you file your taxes next April for this year, in 2015 for 2014, everybody will have to pay the penalty.

Except those of us who pay quarterly estimates have to pay our taxes during the year.  As independent contractors, we have to pay everything that's due (estimated) as it goes.  The estimates can be very complicated.  You can't simply take what you earned last year and divide it by four and make those payments, because, if you underestimate how much you owe, you get socked with a huge penalty.  So the safest thing to do is overpay a little bit.


dario73

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http://www.rushlimbaugh.com/daily/2014/03/24/drudge_shines_light_on_ignorant_media


"A White House aide set off a stampede of liberal media criticism for Internet news pioneer Matt Drudge over Obamacare -- but his critics don't seem to understand how small businesses pay taxes.  The brouhaha started when Drudge tweeted, 'Just paid the Obamacare penalty for not 'getting covered'... I'M CALLING IT A LIBERTY TAX.'  Jesse Lee, the Director of Progressive Media at Barack Obama's White House, responded that that was a 'Flat lie, no fee for previous year,' adding, 'Scary how much influence he once had.'"

So Obama's own acolyte, Obama's own White House smear merchant, doesn't even understand.  Matt Drudge is not paying last year's taxes in April, like you will be.  He is paying the first payment the government is due this year, as is everybody else.  When Matt Drudge files his return, if he waits 'til April 15th -- or maybe he's already done it. Let's say he hasn't. If Matt Drudge files his April 15th payment, he's already paid his taxes in four statements.

"Scary how much influence he once had"?  Was he talking about Obama?  Moreover, why is there even a "director of progressive media" at the White House?  Is there a director of conservative media there?  (Just kidding.)  Now, "Lee's response to Drudge set off a firestorm in the liberal media, with many mainstream media and left-wing reporters countering him on Twitter and in their own articles to claim he does not have to pay Obamacare's Individual Mandate tax until next year.

It's on the IRS website, and still the media is running around calling Drudge a liar.  Drudge is abiding by the law.  They are calling him a liar; they're accusing him of trying to damage Obama.  He is now referring to them as "The Obama Media."  "Additionally," ladies and gentlemen, "the IRS form (1040-ES) for estimating quarterly taxes..." The ES there is for "estimates," for those of you in Rio Linda.

But the point here is that this is total, willful ignorance, on the part of people who are supposedly, as members of the media, experts on taxes and economics.  They are at least supposed to know more than you do so that they can tell you what all this means when it's discussed in the news!

But they are so in the tank for Obama that all they're attuned to is anything that might appear harmful or damaging to Obama. They then have to circle the wagons, and, as is always the case, rather than debate the merits of anything, the objective is to smear and destroy whoever they consider to be the enemy of Obama.  So Obama and his people make haste and write all over the place that Drudge is a liar.










Soul Crusher

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Most leftists don't work and sit around collecting welfare , smoking dope, spending ebt cards, etc - you think they know about this?  lol 


whork

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Most leftists don't work and sit around collecting welfare , smoking dope, spending ebt cards, etc - you think they know about this?  lol 


Thats outrageous!!

We smoke weed NOT dope!!

Soul Crusher

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Thats outrageous!!

We smoke weed NOT dope!!

Look at otwink and Mobacca - both do lines of coke, abuse smack, choom it up in the oval office, drink 40's all day, lay around not doing shit all day.  The dirty mother in Law is barking orders at at the staff all day.  The brats are living the life on our dime.  The aunt and uncle who are illegals are on welfare and ss, I mean WTF!!!!

blacken700

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Look at otwink and Mobacca - both do lines of coke, abuse smack, choom it up in the oval office, drink 40's all day, lay around not doing shit all day.  The dirty mother in Law is barking orders at at the staff all day.  The brats are living the life on our dime.  The aunt and uncle who are illegals are on welfare and ss, I mean WTF!!!!

lol meltdown at its best  :D :D :D :D :D

Soul Crusher

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lol meltdown at its best  :D :D :D :D :D

You know why she went to China right?  Michelle and the Mother are going over there to hang out in opium dens, score some chink smack, etc. 

loco

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Dario, can't see what you posted. Your font's too large.  I have to zoom out.   ;D

whork

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You know why she went to China right?  Michelle and the Mother are going over there to hang out in opium dens, score some chink smack, etc. 


LOL  ;D

whork

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Look at otwink and Mobacca - both do lines of coke, abuse smack, choom it up in the oval office, drink 40's all day, lay around not doing shit all day.  The dirty mother in Law is barking orders at at the staff all day.  The brats are living the life on our dime.  The aunt and uncle who are illegals are on welfare and ss, I mean WTF!!!!


This is funny as hell.

Well put i can actually see it right before my eyes :D

dario73

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Dario, can't see what you posted. Your font's too large.  I have to zoom out.   ;D

 ;D ;D

Coach is Back!

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I disagree with calling it a "Liberty Tax". It should be called Legal Blackmail even saying it's legal is pushing it.

240 is Back

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I disagree with calling it a "Liberty Tax". It should be called Legal Blackmail even saying it's legal is pushing it.

Some people wish we lived in a country where the president can just 'decide' what is legal.  Like Russia.  Putin just "decides" and essentially leads a dictatorship - - and people in the USA praise him for it.  Unreal. 

It would be a terrible country if Obama could just make anything legal that he wanted.



Never forget that everything Hitler did in Germany was legal.

-Martin Luther King, Jr.


Coach is Back!

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Some people wish we lived in a country where the president can just 'decide' what is legal.  Like Russia.  Putin just "decides" and essentially leads a dictatorship - - and people in the USA praise him for it.  Unreal. 

It would be a terrible country if Obama could just make anything legal that he wanted.



Never forget that everything Hitler did in Germany was legal.

-Martin Luther King, Jr.



He does that now. That's why this country is in the shitter.