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Boehner, McConnel and the Republicans won't be raising your taxes. The coming tax increase is there because Democrats wouldn't vote for Bush's tax cuts in the early 2000's unless he put in an expiration date. Bush was against an expiration date of any kind, but he caved to the Democrats to get their votes and pass the tax cuts. So you can thank the Democrats for their going up now.
Exactly. Funny how dems are now fighting to keep them now.
Obama is against increase in tax cuts to incomes below $250K. Republicans are the ones opposed to the idea, unless incomes above $250K are also protected.
Sorry to tell you about reality, but Obama's tax increases will hit middle America immediately. Some of them are hidden (tax on stock transactions will reduce 401k yields, etc) , but all will have an impact.
And he's already increased taxes on middle America in other ways including tobacco and tanning salons.
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?
I wonder how many people of the homosexual persuasion know anything about that marriage tax. I bet they will go wild unless Obama can figure out a way to keep them from having to pay it.
I wonder how many people of the homosexual persuasion know anything about that marriage tax. I bet they will go wild unless Obama can figure out a way to keep them from having to pay it.
That will be an interesting exercise. Under federal law (DOMA) their marriage isn't recognized. Yet they have it recognized at the state level. The honorable thing to do if you feel your marriage is "real" would be to file as married and pay the marriage penalty. We'll see what happens.
No, you're under the false impression that being the point. But if you want to discuss it, Obama Care's primary goal is to increase access (which should reduce costs in the longer term), to prevent patient purge, and denial of coverage with pre-existing conditions and to maximize use of premiums towards health care. There is a lot it doesn't do but that would require further expansion of the law. I'm up for that, are you?
No. I prefer high quality health care. I support targetted reforms to managing health care, which contrary to Democrat propaganda, virtually all Republicans also support. But I do not support a government takeover of health care or expansion of the abomination that is Obamacare.
It works both ways. 0bama holds the lower 98% of income earners hostage, when he could take them off the table with the stoke of a pen.
0bama refuses to just make the current tax rates permanent, and just be done with it. The Republicans would not be opposed to doing that. He had his chance in 2010 to make the rates permanent, and he only extended them two years. Even now, he only wants to extend the lower rates for one year, and we will be right back here next year.
I heard he wants them extended for for the middle class only one year too. Isn't it a shame that he never says anything about the poor who CAN work but are too LAZY to work. They hurt everyone.
People who are above $250K have always paid it, but now you will get to pay it too. You better put more money aside to pay for the Obama and liberal taxes. They won't be happy until the best you can afford is to live in a box. So much for that car you wanted to get.
Has it completely escaped your attention that Obama and the Dems have made no move to patch the ATM?
They're diverting your attention to their tax "the rich" class war, and the threat of eliminating the Bush tax cuts on the middle class. And not one peep about fixing the AMT. Why? Because they KNOW ignoring it and successfully diverting your attention away from it will net them an additional $64 billion in tax revenue, almost as much as they think they will get from raising taxes on the top 2% ($82 billion, but it will actually be less than that because the rich can restructure their income to avoid taxes as Obama's rich supporters - Buffett, Google, Costco, etc. - have already shown).
Quote:
Originally Posted by HappyTexan
Yes the AMT is a long standing problem and Congress has patched it to adjust the income levels.
But it expired 12/2011 and they have not patched it so it will hit those making $30K and above next year.
AMT was an additional tax on "the wealthy" which now hits the bottom of the middle class.
Notice how they are quiet about the ATM hitting the middle class. People really should learn to get educated about such matters before voting or jumping on any politicians band wagon. Why anyone would trust any politician much less Obama is beyond me. News flash... Obama does not care about you, he sees money to be had... too late for you.
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?
I might have to raise my rent on the 22 people who rent from me.
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