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Oh, I wish and hope the GOP would let the tax cuts expire! The people will realize finally what a friend they had in George W.
But Obama has backed the GOP into a corner; he will have it his way on the tax side.
The real mess comes in just a few weeks, when the GOP insists that we live within our credit limit.
There's probably a great deal that most people don't know about Norquist.
Quote:
According to a 2011 memoir by former lobbyist Jack Abramoff, Norquist was one of Abramoff's first major Republican party contacts.[38] Norquist and Americans for Tax Reform were also mentioned in Senate testimony relating to the Jack Abramoff Indian lobbying scandal which resulted in a 2006 guilty plea by Abramoff to three criminal felony counts of defrauding of American Indian tribes and corrupting public officials. Records released by the Senate Indian Affairs Committee allege that ATR served as a "conduit" for funds that flowed from Abramoff's clients to surreptitiously finance grass-roots lobbying campaigns. Norquist has denied that he did anything wrong, and has not been charged with any crime.
Quote:
Norquist serves on the boards of directors of numerous organizations including the National Rifle Association, the American Conservative Union,[1] the Hispanic Leadership Fund, the Indian-American Republican Caucus, and ParentalRights.org, an organization that wishes to add a Parental Rights Amendment to the United States Constitution.[citation needed] In 2010, Norquist joined the advisory board of GOProud, a political organization representing conservative gays, lesbians, transgendered people, and their allies, for which he was criticized by the Family Research Council
He's pretty comfortable in the GOP's playbook.
I hope the cliff happens, I found an article that stated the upper class, billionaires are only paying at a tax rate comparable to the 1950's, which isn't at all ethical or moral, especially when other Americans are paying at higher tax rates.
Destruction of tax payers and our country started a long time ago and a lot of it is their own doing (listening to the media personalities for having an opinion to regurgitate them as rhetoric rather than demonstrate the ability to be their own self).
Ok, you keep making this point about the media (right wing, I'm assuming) so I guess I need to ask where do you get your opinions. I know you'll say from research, life and work experience, but surely you must also listen to or watch some media to help form those opinions. I need some guidelines about media so I'm not continually being led astray. I'm serious, by the way, not being well schooled at all in economics or tax law. It's hard for me to follow these discussions while being at a disadvantage.
[quote=Iamme73;27327196]
Either way, I'd love to have an adjusted gross income high enough to see a $100 a paycheck tax increase.[/quote
Mail it right on in, they'd love to have it.
People think that if taxes go up that that federal tax will not become due until 2014. How wrong they are. I hope you have been saving because if ATM is not patched you will pay higher taxes for 2012, payment due by April 2013.
Every year or two, Congress passes an AMT “patch” to exempt most of the people affected. For 2011, the exemption was $74,450 for married taxpayers filing jointly, and $48,450 for individuals. Because of the exemption, only about 4 million taxpayers paid the AMT for 2011.
But the last patch expired at the end of 2011. Unless Congress does something by the end of December, the AMT exemptions revert to $45,000 for married taxpayers and $33,750 for individuals. That means about 28 million more households would owe “very large, unexpected” AMT liability for 2012
Your title is wrong, the taxes Obama wants to increase won't impact 98% of the population.
I get $58,000/year. I'm not in the top 2% by any means. But my boss who runs the small business I work for, is. And when his taxes go up, he will have to lay some of us off to make up for the money he has to take to pay the government.
Are you sure the Obama tax increases of 2013, won't impact those of us in the 98%?
They're advocating increasing taxes on "rich" people like themselves, and then doing everything they possibly can to pay as LITTLE in taxes as possible. They're BLATANT hypocrites.
It's looking less and less likely that the tax rates of the Bush years will be extended. Various reports have said that as of January first the "average household" will pay an extra $2200 per year in taxes. For married couples, that will be higher yet, due to the return of the Marriage Penalty.
So...where will you cut spending in order to come up with an extra $2200 to pay for DCs reckless spending? What are you going to do without? ~$200 per month for the "average household" is a big piece of change, and we're looking at more like $300 as a married couple with no kids. In our case, that will hit our "discretionary spending" pretty hard. We don't eat out more than about once a month now (other than a fast-food lunch about once a week). Already carpool, and don't do a lot of driving on weekends. No real charitable deductions. We can probably cut back on our Dish Network, and maybe get rid of some of our pets...cat and dog food, along with vet bills, are among our biggest discretionary expenses.
How about you...where will you trim your spending in order to subsidize DC?
Retirement saving...if Social Security will still exist when I need it.
I get $58,000/year. I'm not in the top 2% by any means. But my boss who runs the small business I work for, is. And when his taxes go up, he will have to lay some of us off to make up for the money he has to take to pay the government.
Are you sure the Obama tax increases of 2013, won't impact those of us in the 98%?
Exactly but democrats refuse to see consequences of their actions. I've heard many business owners say they will reduce employees or cut them to part time if Obama raises taxes.
In fiscal negotiations Barack Obama is a terrorist. Think about it; Obama has nothing to lose, because he cares only about winning -- the nation be damned. In fact, the economic depredations inherent in cliff diving provide him with an advantage.
By letting lower tax rates on the middle class expire, Obama has access to so much more money to transform America, along with the ability to blame the Republicans for the entire debacle -- should he choose that route.
I hope no one is ignoring it and figured out what they will cut to pay the extra taxes.
My family income is less than 250K. I am still hopeful that Obama will be able to stop Boehner, McConnell and the Republicans from raising my taxes and destroying our economy.
Quote:
Originally Posted by Suncc49
Dear informed person.... Your taxes are going up anyways when the Bush tax cuts expire. I suggest you read up on it.
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