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Old 11-14-2009, 12:32 PM
 
Location: Chicagoland
41,267 posts, read 24,702,913 times
Reputation: 7016

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Quote:
Originally Posted by ndfmnlf View Post
The tax increase from Pelosi will put the tax rate up to 25% --- still less than the Reagan and Clinton era cap gain tax rates rates. I don't know about you, but I made lots of money in the stock market during the Clinton era 28% tax regime.
Wrong. You are forgetting the bush tax cuts will be expiring, putting the rate back up to what it was. Add to that the "new" taxes by pelosi-care...and there you have it.
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Old 11-14-2009, 12:35 PM
 
Location: FL/TX Coasts
1,414 posts, read 2,945,248 times
Reputation: 412
Quote:
Originally Posted by sanrene View Post
Wrong. You are forgetting the bush tax cuts will be expiring, putting the rate back up to what it was. Add to that the "new" taxes by pelosi-care...and there you have it.
you are right! let's keep and extend Bush's tax cuts for US businesses outsourcing our jobs overseas. SUPER. So we can compete with foreign workers...
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Old 11-14-2009, 12:39 PM
 
Location: Great State of Texas
75,026 posts, read 35,751,474 times
Reputation: 18158
Quote:
Originally Posted by sanrene View Post
Wrong. You are forgetting the bush tax cuts will be expiring, putting the rate back up to what it was. Add to that the "new" taxes by pelosi-care...and there you have it.
Wait there sanrene. Obama told people the Bush tax cuts expiring would only affect the rich.

I wonder how many people went hunting to find out what those tax cuts were...not many in my book.

Here's some reality of what is going to happen:
-elimination of 10% bracket
-reduction in child tax credit
-reduction for joint filers standard deduction
-small business expense reduced to $25K from $100K

These are just a few of those changes. I don't see that the above will only affect the rich. How many rich people do you know are in the 10% bracket ?

This is Obama's backdoor to a tax increase for ALL Americans.
The sheeple are not doing their homework.
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Old 11-14-2009, 12:46 PM
 
19,178 posts, read 19,959,225 times
Reputation: 3906
Quote:
Originally Posted by InformedConsent View Post
The government OWES it to taxpayers to practice fiduciary responsibility. How about if the government STOPS SPENDING SO MUCH and LOWERS EVERYONE'S TAXES.
Tea Party sloganeering. Even with GDP falling and government expenditure rising to meet the challenges of this Republican-bred economic debacle, federal spending at the end of FY2009 was less than 25% of GDP. That is one of the lowest numbers among developed countries.

If the government stops spending, thousands and thousands of jobs that depend directly on federal spending and thousands and thousands more jobs that depend upon the spending of those people in jobs that depend directly on federal spending will all be lost. Sound like a good idea at this point? You need to get that CATO/Mises drip-line pulled out of your arm.

Quote:
Originally Posted by InformedConsent View Post
Even Obama knows the government is notoriously ineffective and inefficient.
Yes, and black cats are notoriously omens of bad luck. Some people will believe pretty much anything...
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Old 11-14-2009, 12:52 PM
 
19,178 posts, read 19,959,225 times
Reputation: 3906
Quote:
Originally Posted by InformedConsent View Post
That's anathema to saggy, Obama, Pelosi, Reid, and the Dems.
Well, pretty much anybody who understands what's going on...
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Old 11-14-2009, 01:15 PM
 
Location: Reading, PA
4,060 posts, read 2,498,583 times
Reputation: 836
Quote:
Originally Posted by HappyTexan View Post
Wait there sanrene. Obama told people the Bush tax cuts expiring would only affect the rich.

I wonder how many people went hunting to find out what those tax cuts were...not many in my book.

Here's some reality of what is going to happen:
-elimination of 10% bracket
-reduction in child tax credit
-reduction for joint filers standard deduction
-small business expense reduced to $25K from $100K
Huh? Link, please.

I'm puzzled about what the "small business expense" reduction is about....
Quote:
These are just a few of those changes. I don't see that the above will only affect the rich. How many rich people do you know are in the 10% bracket ?

This is Obama's backdoor to a tax increase for ALL Americans.
The sheeple are not doing their homework.
The rich are in the 10% bracket. The first $16,000 (MFJ) of every couple's taxable income is taxed at the 10% rate. The next $52,750 at 15% and so it goes up through the tax tables. You have to have taxable income over $373,650 before any of it is taxed at the 35% rate. Did you think rich people had all their taxable income taxed at the 35% rate?
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Old 11-14-2009, 01:22 PM
 
Location: Great State of Texas
75,026 posts, read 35,751,474 times
Reputation: 18158
Quote:
Originally Posted by Sagran View Post
Huh? Link, please.
Google "Bush tax cuts expiring".
I don't know what the approved reading sites are for the Dems so you can pick and choose what site you want to read from.

For all that Obama has said this will only affect the rich, I cannot find anything that this administration is doing to preserve those cuts that affect middle class people.

The middle class DID benefit from those cuts and there is no denial.
Without changes from this administration those expiring cuts will affect us.
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Old 11-14-2009, 01:33 PM
 
3,536 posts, read 3,525,756 times
Reputation: 781
Quote:
Originally Posted by pghquest View Post
Median income in NYC is $75,513, 50% higher than you proclaimed.

New York State Median Income for FFY 2008/2009 - LIHEAP Clearinghouse

Kinda shows that YOU dont know the stats..

btw, yeah, I see 698sf units for $1200 a month, thats smaller than my BEDROOM at more cost for my whole mortgage. Try pricing them for a family of 4. No thanks.. You keep the high costs and the small living spaces, I need/like my space and would rather have money to invest than spend on rent.
Taken from the US census

[LEFT]Economic Characteristics - show more >></SPAN>[/LEFT]
[RIGHT]Estimate
Percent
U.S.
Margin of Error
[/RIGHT]
[LEFT]In labor force (population 16 years and over)[/LEFT]
[RIGHT]4,137,164
62.6
65.2%
+/-11,362
[/RIGHT]
[LEFT]Mean travel time to work in minutes (workers 16 years and over)[/LEFT]
[RIGHT]39.4
(X)
25.3
+/-0.1
[/RIGHT]
[LEFT]Median household income (in 2008 inflation-adjusted dollars)[/LEFT]
[RIGHT]50,403
(X)
52,175
+/-271
[/RIGHT]
[LEFT]Median family income (in 2008 inflation-adjusted dollars)[/LEFT]
[RIGHT]55,492
(X)
63,211
+/-438
[/RIGHT]
[LEFT]Per capita income (in 2008 inflation-adjusted dollars)[/LEFT]
[RIGHT]30,415
(X)
27,466
+/-175
[/RIGHT]
[LEFT]Families below poverty level[/LEFT]
[RIGHT](X)
15.7
9.6%
(X)
[/RIGHT]
[LEFT]Individuals below poverty level[/LEFT]
[RIGHT](X)
18.6
13.2%
(X)[/RIGHT]


NEW YORK STATE is not NYC!!! New York City is different than the state!!!

READ what you post!!!

698 sq. feet is actually not THAT bad. For a one bedroom or studio it's actually quite roomy. The average family house in the 1950s was less than 1,000 sq. feet. Now with smaller families it's approx 2, 500. Wasted space.

You won't get a McMansion in NYC, but you will get a decent space.
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Old 11-14-2009, 01:37 PM
 
Location: Reading, PA
4,060 posts, read 2,498,583 times
Reputation: 836
Quote:
Originally Posted by HappyTexan View Post
Google "Bush tax cuts expiring".
I don't know what the approved reading sites are for the Dems so you can pick and choose what site you want to read from.

For all that Obama has said this will only affect the rich, I cannot find anything that this administration is doing to preserve those cuts that affect middle class people.

The middle class DID benefit from those cuts and there is no denial.
Without changes from this administration those expiring cuts will affect us.
This tax cut legislation doesn't expire for a year. What does it take to preserve the cuts that affect the middle class? Another tax law. Why do you think there won't be one in an election year?
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Old 11-14-2009, 01:50 PM
 
4,184 posts, read 3,900,051 times
Reputation: 1684
Quote:
Originally Posted by sanrene View Post
Wrong. You are forgetting the bush tax cuts will be expiring, putting the rate back up to what it was. Add to that the "new" taxes by pelosi-care...and there you have it.
Umm...yeah....Bush tax cuts expire and rates move from 15 to 20%. Then add 5% from Pelosi, that's 25% (but only for those individuals making $500K per year or couples making $1M) Still lower than the Reagan rate of 26%. Which part of that arithmetic do you not understand?
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