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I do my taxes (federal and state) using TurboTax. As part of the calculations the program does, it figures out the "effective tax rate" for the year. I went back and compared this year's tax return with last year's. Last year, the effective tax rate was 16% - this year, it was 10%. Last year, I got back some money - this year, I got back more.
It's been a LONG time since I was in an elementary school learning simple arithmetic, but it seems to me that 10 is less than 16.
Wrong, wrong, wrong. Made WAY LESS than that, paid more in taxes than last year. What was the mechanism by which we were supposed to pay less?
And the taxes for Obamacare haven't even started yet. But those new taxes will go right in a Obamacare Trust Fund, for use on future health care reform costs, right? Right next to the Social Security Trust Fund they've been stealing from since the early 1980s...
Of course there never was any "trust fund". That is a myth. The SSI payments go right into the general fund. They spend it as fast as it comes in.
$17B new taxes for those who do not purchase health insurance
$52B new taxes for those who fail to comply with government insurance mandates
$32B in a new 40% exercise tax on high cost health plans
$5B cost of new ban on over the counter drugs using money from FSAs, HSAs, HRA's.
$210.2B Increased medicare taxes on wages and self employed income by .9% and imposes a 3.8% surtax on other investment income.
$15.2B cost due to an increase from 7.5% to 10% of income in threahold after which individuals can deduct out of pocket medical expenses
$13B due to a $2,500 annual cap on FSA contributions
$60.1B in new taxes on health insurances
$27B annual tax on brand name pharmaceuticals
$20B tax from a 2.3% excise tax on medical devices
$2.7B tax from a 10% tax on tanning services
$2.6B tax on insured and self insured health plans
$1.4B penalty tax on non qualified HSA distributions
$4.5B tax due to the elimination of a deduction for expenses allocatable to Medicare Part D subsidy
$600M tax due to limited deductions for compensation to officers, employers and directors of health insurance providers
$17.1B to require information reporting on payments to corporations.
$400M to impose additional requirements for section 501(c)(3) for hospitals
$23.6B tax credit removed a "black liquor" needed for cellulosic biofuel producer.
$4.5B Codify economic substance doctrine and impose penalties for underpayments.
$65.5B tax hikes in the SCHIP bill
$6.97B tax hike in the stimulus bill to repeal guidance allowing taxpayers to claim losses from acquired corporations
$2.578B tax hike in unemployment benefits law creating a surcharge tax extension through 6/11
$20.123B cost to delay the rules to reduce the double taxation of american employers until 2018.
Over $600B in tax increases so far, and its only 1 year into his term..
Really, that's odd considering this year I owed for the first time in my life. No I didn't get any big raises or anything and make significantly under $250,000.
I seem to have to keep pointing this out:
It doesn't matter whether you "owed" or got a refund.
The question is, what was your total tax?
Unless you compare your total tax for 2009 to your total tax for 2008, you don't know whether your taxes went up or down.
Tax cuts? He hasn't cut anyone's taxes! Can sombody please show us where he has cut taxes? Please?
He has increased taxes everywhere, to pay for "health care" (which is a joke). He has increased the capital gains tax, and is allowing the Bush tax cuts to expire. He cut the Social Security cost of living increase (didn't get one this year ... first time in forty years, I understand).
WHAT TAX CUTS? PLEASE ... ANYBODY?
What a liar this idiot is.
Taxes are increasing right and left. That is all we hear about in the news. They are even talking about increasing the gasoline taxes again! And they are talking about a VAT tax, and taxes on your internet service.
The Obama administration is about nothing but tax increases.
Get a clue!
This is just a litany of lies. In addition to Making Work Pay there are other changes in the tax code that may have benefitted you, depending on your individual circumstances.
Did you buy a new house and get a tax credit? That's a tax cut.
Did you pay college tuition for a junior or senior in college and get to take a tuition credit? That's a tax cut.
Did you buy a new car and get a tax credit? That's a tax cut.
That would have been the person I was responding to.
But since you brought it up again, let's see if anyone in government is "talking about a VAT tax":
"There is a growing awareness of the need for fundamental tax reform," Sen. Kent Conrad (D-N.D.) said in an interview. "I think a VAT and a high-end income tax have got to be on the table."
"I think interest is quietly picking up," Graetz said. "People are beginning to recognize that the mathematics of the current system are just unsustainable. You have to do something. And a VAT has got to be on the table if you want to do something big and serious."
“My tax philosophy would be if we can’t deal with our expenditure loan with the present tax system, we’ve got to think about changing the tax system,” Volcker said. “When you think about changing the tax system, given the problem that we started out talking about, you’ve got to talk about some tax that hits consumption.”
Pelosi, appearing on PBS’s “The Charlie Rose Show” asserted that “it’s fair to look at” the VAT as part of an overhaul of the nation’s tax code.
“I would say, Put everything on the table and subject it to the scrutiny that it deserves,” Pelosi told Rose when asked if the VAT has any appeal to her.
“Somewhere along the way, a value-added tax plays into this. Of course, we want to take down the healthcare cost, that’s one part of it,” the Speaker added. “But in the scheme of things, I think it’s fair look at a value- added tax as well.
There are people talking about it, and that is how it works in politics. The routine for politics on the left is to float unpopular ideas, (which means all of their ideas) by having certain White House advisors,and democrats in the congress and senate float the ideas out there, and then see how the public reacts to them. If the public only responds with shock and outrage, then the dems figure it went over pretty well, and they run with it.
This is just a litany of lies. In addition to Making Work Pay there are other changes in the tax code that may have benefitted you, depending on your individual circumstances.
Did you buy a new house and get a tax credit? That's a tax cut.
Did you pay college tuition for a junior or senior in college and get to take a tuition credit? That's a tax cut.
Did you buy a new car and get a tax credit? That's a tax cut.
Those aren't tax cuts. Those are credits. You have to spend money on something the government approves and they don't punish you as much.
A tax cut would be across the board with no strings attached. Like if I have to pay 10% on my income and then it changes to 5% for the same amount of income. That would be a cut.
I read it. Obama signed the thing in Feb 2009. This raised taxes. He said he wasn't going to raise taxes on people making under $250,000. This did that. He lied.
Doesn't matter if the program was already in place or if Bsh supported it. Obama said he wasn't going to raise to taxes on certain people. He did. He lied.
Your nit picking. It does matter if an Act was already in place. Everyone who smoked knew CHIP was going to kick in to pay for health care for children with an increased cigarette tax. This would of happened if McCain got elected. To harp on the cigarette tax - to use it as a point that Obama lied - gives your argument no credibility.
Ask a smoker - we had been stock piling for months because we knew the hike was coming and it had nothing to do with who was to be in the White House January
2009. Remember the S of SCHIP stood for STATE
You can really blame SCHIP on Bush Jr. and Clinton and
CONGRESS
I'm sure you can find things Obama lied about
The cigarette tax is just not one of them.
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