Right! O says he will lower taxes, which is really
Posted By: just another lie. Rich cant pay for everything.nm on 2009-04-18
In Reply to: Okay...so all this money is supposed - Trigger Happy
nm
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Smaller government, lower taxes...
xx
Because he keeps dropping it lower and lower
And soon my $30 or $40K is going to be considered rich, hence my taxes will be increased!!!!!!
Of course it has to go lower. How else...
can we get it all the way to the bottom where it can start up again?
Just when we think pubs can't stoop any lower...
nm
Yep, they actually have a lower approval rating than
nm
How low can she go? No lower with frozen market.
can they stay frozen? Russian markets closed until Tuesday. What does it mean with futures are "bottomed out?" What happens when they do open? Boy oh boy. What's up with that?
Why should he lower himself to explain any such trash?
If you want a lower rate -- refinance it
If you're credit score is that good, you should have no problem securing a lower rate. By the sounds of things, you've got it pretty well paid down. Depending on the exact amount you owe, you could refinance it into a home equity loan, rather than a new mortgage, and end up only paying about $100 in closing costs. Check with your current lender.
Brad Pitt and Lower 9th ward.
If he is so worried about the people of the 9th ward, why doesn't he build his house down among the 9th ward people and live down there with them instead of living in a million dollar or however much it costs house? Have you seen pics of their house?? Makes mine look like a tarpaper shack. And I live in Michigan. He should put his money where his mouth is, not on Nob Hill, but actually in the streets of the 9th ward. JMO.
oh, yeah? like the Dems in congress? with lower
nm
Instead of trying to move the lower income levels....
out of those levels by incentivizing them to work instead of stay there, he wants to move the upper income levels DOWN closer to them. Socialism. Makes absolutely NO sense. If he really cared about lower income levels, he would be trying to figure out a way to help them OUT of it, not keep them IN it and bring others DOWN. That is his idea of "economic parity." Misguided, to say the least.
I see the new middle class has dropped from 250,000 to 120,000 and could be lower.
Very, very contradicting to me. Obama changing a lot of what he said lately and it gets worse. He wants us to vote early and take off from work Nov. 4th to help him win. Fox news also reports Obama and his campaign lays out plans to kill expectations after win because of concerns that many supporters are now harboring unrealistic hopes of what can be achieved. What the heck? Now he says, "it will be hard to achieve goals and will take time." He says one thing and then says another. I want to know where these unauthorized credit cards came from for his campaign. I want to see his birth certificate that he cannot cough up and there is a petition out and he is under investigation if he was truly born in the good ole USA. Call your State Department and they will tell you there is an investigation and they trying to get this resolved before Nov. 4th. So much uncertainty. Hope I do not offend anyone, but just like a bumper sticker I read
I'll keep my God, my freedom, my guns, and my money, you can keep THE CHANGE. VOTE FOR MCCAIN/PALIN.
Aren't we NOWat the bottom? How much lower can it get?
Therefore we need CHANGE.
'You don't seem to understand.' Favorite sentence of McCain addressing Obama.
Well, maybe the dem congress didn't lower my earnings...sm
But that is the timeline for my taxes that increased, and my take home being lower. I have made less in the last two years. First six years of Bush
administration were great.
And the Clinton years were crap....I still was inhouse and taxes were skyhigh...yuck.
Anyway...whatever the cause, if you're talking Bush years, Clinton years, and when Democrats are in control of Congress.....things for me monetarily have always been way worse under Democrats.
Just the facts for my case.
if you want to preach, go to church, I know better than you, see my lower posts...nm
nm
Buffett, 3rd richest man in world, pays lower
Even he see the unfairness here. Some conservatives are fond of saying that Democrats want to tax the wealthy unfairly, but what I would like to see is the wealthy taxed equally. "Mr. Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent." Here is the entire article. It's a great read. Trust me.
June 28, 2007
Buffett blasts system that lets him pay less tax than secretary
Warren Buffett, the third-richest man in the world, has criticised the US tax system for allowing him to pay a lower rate than his secretary and his cleaner.
Speaking at a $4,600-a-seat fundraiser in New York for Senator Hillary Clinton, Mr Buffett, who is worth an estimated $52 billion (£26 billion), said: “The 400 of us [here] pay a lower part of our income in taxes than our receptionists do, or our cleaning ladies, for that matter. If you’re in the luckiest 1 per cent of humanity, you owe it to the rest of humanity to think about the other 99 per cent.”
Mr Buffett said that he was taxed at 17.7 per cent on the $46 million he made last year, without trying to avoid paying higher taxes, while his secretary, who earned $60,000, was taxed at 30 per cent. Mr Buffett told his audience, which included John Mack, the chairman of Morgan Stanley, and Alan Patricof, the founder of the US branch of Apax Partners, that US government policy had accentuated a disparity of wealth that hurt the economy by stifling opportunity and motivation.
The comments are among the most signficant yet in a debate raging on both sides of the Atlantic about growing income inequality and how the super-wealthy are taxed.
They echo those made this month by Nicholas Ferguson, one of the leading figures in Britain’s private equity industry, when he criticised tax rates that left its multimillionaire venture capitalists “paying less tax than a cleaning lady”.
Last week senior members of the US Senate proposed to increase the rate of tax that private equity and hedge fund staff pay on their share of the profits, known as carried interest, from the 15 per cent capital gains rate to about 35 per cent.
Lloyd Blankfein, the chief executive of Goldman Sachs, acknowledged in an interview yesterday that there were justified concerns about the huge profits generated by private equity firms and that he worried that income inequality was “poisoning democracy”. He also said that he would be voting for the Democrat candidate at the next election. Mr Blankfein is the highest-paid executive on Wall Street, earning $54 million last year.
Mr Buffett, who runs the investment group Berkshire Hathaway and is widely regarded as the world’s most successful investor, said that he was a Democrat because Republicans are more likely to think: “I’m making $80 million a year – God must have intended me to have a lower tax rate.”
Mr Buffett said that a Republican proposal to eliminate elements of inheritance tax, which raises about $30 billion a year from the assets of about 12,000 rich families, would broaden the disparity between rich and poor. He added that the Republicans would seek to recover lost revenue by increasing taxes for the less prosperous.
He said: “You could take that $30 billion and give $1,000 to 30 million poor families. Or should you favour the 12,000 estates and make 30 million families pay an extra $1,000?”
I'm glad you wrote bible with a lower case
Because there are a million bibles out there...bible simply means book. But the Holy Bible there is only one of, of which there are thousands of manuscripts, and of which authenticity was proved (again) by the manuscripts found in the Dead Sea Scrolls.
I've told you a million times that I do not make that call, Jesus Christ does. All authority has been given to Him. I'm just one of many messengers.
And since you have no idea who I am, don't confuse yourself with thinking I am in a little locked-in box. You have no idea the kind of life I have led, the things I have seen, and the things I have done. I spent six years trying as hard as I could to disprove Jesus and Christianity. To this day I still doubt many things, but doubting is good, it makes you search for the truth that much harder. I question points all the time, but i do so in sincerity, not facetiousness. Therefore God reveals the answers to me. However, He didn't do so until I honestly asked Him.
helping the lower class and middle class will NOT
Giving handouts to those that do not work certainly does nothing to help their situations; it only encourages it. Middle class are your working class, the support and backbone of this country. Obama's interference in their lives is just that, interference. The democrats have always felt they have the right to interfere in our lives by taxing us to death. What does that do to help us? It only makes us MORE dependent on the government......nothing about MORE government is helping us in any way.
I'm glad you think crime is JUST a biproduct of poverty, not race, which proves you obviously don't live in an area where that would prove you wrong. I live in an area where I know that every BLACK has the same opportunities as whites, the EXACT same education and FREE two college years....FREE, FREE, FREE.....all they have to do is finish high school....not all As or even any Bs, just finish high school. Now, a lot of young people take advantage of that but MANY do not. What do they do instead? Stand on the street corner, run around with their pants hanging down to the knees, steal for drugs, sell drugs to make money so they can buy expensive hubcaps for their souped up cars, buy their expensive shoes and ugly pants, and make MORE BABIES, which by the way, I SUPPORT with my taxes. No, I don't want to hear all that hogwash about their poverty. The media has made so much of that garbage, those that don't live in or near it, don't realize many blacks have the same opportunities; it's just that a lot of blacks, especially in my town, have grown up generation after generation living off the taxpayer and see no reason whatsoever to change their situation. They make more babies.....I'm forced to raise them so that generation can make more babies. Do I wish their situation would change? ABSOLUTELY! Do they have plenty of resources available in this town alone to change that? ABSOLUTELY! Do most of them take advantage of that? ABSOLUTELY NOT!!!! Yes, the majority of crimes in our town is committed by blacks but it AIN'T because of poverty; it's because THEY WANT TO COMMIT A CRIME!! We have poor whites as well and the majority of those do not feel they have the right to steal what belongs to others, kill someone over drugs or a stupid girl, or whatever else one wants to use as an excuse.
Obama will do nothing to help those that feel entitled and look to Obama as just a bigger free paycheck. You don't help anyone by giving them free handouts. If they don't want an educate, won't help themselves, and continue to feel ENTITLED to MY money, Obama certainly won't change that by encouraging laziness and lack of worth ethics.
Making the middle class dependent on the government is in no way helping them; if anything, Obama will be the end to the middle class as we know it today.
You won't pay more taxes
The fact of the matter is McCain's tax proposals are the same as Bushes - he wants to make the tax cuts for the rich PERMANENT. Therefore, the burden of taxes falls on the backs of the middle class. Yes, I worked for Children Services - by taking in foster children and adopting hard to place children the parents receive quite a few entitlements - that is true. (I'd rather work - I saw how hard it was to raise "damaged" children). I had a weekend foster child, as a single mother, with my own 2 children and custody of my neice and never applied for food stamps, medical care, etc. My husband took off and dodged state-to-state to avoid paying childsupport. How we managed, I guess it was just easier then. Obama's tax plan does not include YOU at your tax bracket - you will benefit from his plan - are you benefitting from Bush's? I know we aren't. I'm not asking for pity. 1 out of 3 people will get cancer. I paid for my disabiity insurance and I am still fighting for my benefits (they play games and lie to delay payments), so I will scrap aluminum and do whatever I have to in order to keep food on the table. I'm not lazy. I worked hard raising my children by myself, bought my own home and did not remarry until my kids were adults. I had to write to state representatives in order to get my insurance disability to MOVE. I have written my state representatives before when my ex-husband was dodging child support. I learned to lean Democrat while working at Children Services and also by all the things I learned in college. Those dem state reps helped me and even called me at work to ensure the Bureau of Support was doing their jobs. How can I argue with that? Please read the issues on both candidates and don't believe everything you hear on the news and read on this board. McCain's attack ads are lies and that's sad as we considered him when he ran against Bush. Now he is just another Bushie.
Taxes
mCcain gives back rich. Obama to give back to middle class. Simple as that. I have never attended any institute of higher lurnin so that makes me sure I am right. Too much knowledge a dangeris thingie.
More about taxes...
My personal taxes (single renter w/no dependents) WERE higher under Clinton, but there was only ONE reason for that: I was making a LOT MORE MONEY BACK THEN.
That's when my MT paycheck was at it's highest ever, about$40K per year. Since then, my income has gone down (thanks in large part to nobody in Bush's term in office doing diddly to stop the hemorrhage of our jobs out of the US & off to India, Pakistan, Philippines, etc.
And to make things worse, these same companies selling our livelihood down the river were getting REWARDED monetarily for doing so.
So now, I make half of what I made during the Clinton years. (About $20K/year, for doing about twice the work.) Retirement is now almost a virtual impossibility, thanks to the tanking of our stock-market-driven 401K not only after 9/11, but today as well.
I just hope, if we end up with 4-8 more years of this greed on Capital Hill, and throughout our nation's corporate world, that everyone gets used to paying for those who will have nothing. If I lose my job and/or health insurance, then I, too, will be contributing to the money-pit that hospital emergency rooms have become (and which is why they're closing one by one), because that's where I, too, will have to go for my medical care.
Taxes
McCain will raise taxes too. How else is he going to fund his wars? Not to mention Bushes bail out of his cronie Wall Streeters, never mind that those execs collected millions in bonuses before they ran the companies into the ground. We taxpayers are left to pick up the tab. If Obama sticks to his guns he won't raise taxes on MOST of us, certainly not me, as I don't come close to an income over $250,000 per year...wish I did, I'd be happy to fork over a few extra tax dollars.
taxes are taxes
you don;t get to chose where your money goes. Only United Way does that.
that would still be taxes... nm
x
Even more taxes for us
So Obama plans to let the Bush tax cuts expire. That equates to more $ from our pockets, just in a different form. If that's not bad enough, see below--and Snopes is leftist, so they wouldn't publish this unless it were true. They probably cringed as they posted it. Y'all must be making some huge bucks at MQ to want even more $ taken out of your checks. If so, then why all the griping about lost wages? Can't have it both ways!
Date: Monday, October 6, 2008, 12:00 PM
We could resolve this financial crisis by CLOSING the books on the fourteen listed programs..............WHERE IS THE CONGRESS???
Read this! It will open your eyes for sure!
Don't miss the Total at the bottom.
WONDER WHY YOU DON'T HEAR MUCH ABOUT THIS IN THE DEBATES. NONE OF THE
PEOPLE THAT RUN THE DEBATES (TV NEWORKS), WHO ASK THE QUESTIONS WILL
ALLOW THIS TYPE INFORMATION
TO GET OUT TO THE PUBLIC.
THE DEMOCRATS AND THE REPUBLICANS GO HIDE WHEN THESE QUESTIONS ARE
ASKED, WHY? WHAT COSTS MORE PER YEAR THAN THE IRAQ WAR?
Answer: Illegal Aliens Cause Massive Cuts For US Seniors. I hope the fo llowing 14 reasons
are forwarded over and over again until they are read so many times that the reader gets sick
of reading them. I have included the URL's for verification of the following facts:
1. $11 Billion to $22 billion is spent on welfare to illegal aliens each year. http://tinyurl.com/zob77
2. $2.2 Billion dollars a year is spent on food assistance programs such as food stamps, WIC, and
4. $12 Billion dollars a year is spent on primary and secondary school education for children here illegally
5. $17 Billion dollars a year is spent for education for the American-born children of illegal aliens, known as
10. The illegal aliens in the United States have a crime rate that's two-and-a-half times that of white non-illegal
11. During the year of 2005 there were 4 to 10 MILLION illegal aliens that crossed our Southern Border also,
as many as 19,500 illegal aliens from Terrorist Countries. Millions of pounds of drugs, cocaine, meth, heroin
12. The National Policy Institute, 'estimated that the total cost of mass deportation would be between
14. 'The Dark Side of Illegal Immigration: Nearly One Million Sex Crimes Committed by Illegal Immigrants
In The United States'. http://www.drdsk.com/articleshtml
Total cost is a whooping... $338.3 BILLION A YEAR!!!
If this doesn't bother you then just delete the message, but on the other hand, if it does raise the hair on
SEND THIS TO ALL YOU KNOW. THE ENTIRE POPULATION OF THE UNITED STATES NEEDS TO
KNOW THIS INFORMATION, UNLESS THEY DON'T MIND SHARING THEIR SOCIAL SECURITY WITH
ILLEGAL ALIENS WHO DIDN'T PAY A DIME.
LET US SHOW OUR LEADERS IN WASHINGTON 'PEOPLE POWER' AND THE POWER OF THE INTERNET.
IT DOESN'T MATTER IF YOU ARE REPUBLICAN, DEMOCRAT OR INDEPENDENT! KEEP IT GOING.
Taxes
Would I have a yearly capital gain of $250.000.--, I would GLADLY pay more taxes, actually only 3 percent more.
40% of that 95% DON'T pay taxes...
where is all the money coming from to pay for all of his programs?
Everyone has to pay taxes, sorry
That's the way it works in our society. It's been backwards for years with the rich getting all the breaks. If you make a lot, you pay more. What is wrong with that?
I doubt that YOU have to worry about it mtstar.
No, we don't need more taxes
but we're gonna get 'em anyway regardless of which one is elected. How else is that 700 bil bail-out gonna get paid back?
I pay taxes
and I need a break. I know plenty of others are in the same boat also. It's not like only rich people pay taxes. Come on now.
Many of those wealthy people have gotten there by taking advantage of lowly workers who can barely pay fundamental bills. How many times are people on this board bi+c#ing about working harder for less and our jobs going to other countries!
Have you tried to get a new job lately? Multiple rounds of testing and endless interviews to the point where you'd think you were trying to get a CEO position ... when in reality it pays barely over minium wage. pRIcEleSs!
Not all of us poor people aren't working hard or are blowing money on extravagance!
Taxes
Well, then, maybe you'll appreciate the tax break you will see under his administration.
Sin taxes.........sm
I understand the brewers' outrage, but "fair is fair." Smokers have been taxed out the wazoo on cigarettes and they are about to go up another $0.61 per pack as a means of paying for Medicaid. Personally, I don't think it is fair to tax any particular class of person based on their habits to fund government spending. What's next? A tax increase on knitting needles or perhaps scrapbook materials?
Regardless of where the taxes
come from (state or federal) they will still rise because of the cap and trade Obama wants to institute. IMO, still his fault because he said himself during his campaign that this would make energy costs skyrocket. He knows instituting cap and trade will raise costs for all consumers. Why do some people continually give Obama an excuse for everything. Nothing will ever be his fault. He is so perfect and wonderful and who cares if he does something that will end up raising prices on utilities, gas, groceries, etc. Not like are economy is suffering or anything or that people are barely getting by. But hey.....Obama is such a great guy...gosh darn it.
So maybe if we don't pay our taxes, the gov't. in
If so, count me in! This year the gov't. is probably only going to get a note from me saying to bill it to AIG. They can afford to pay my share.
Taxes......
Obama’s plan would raise fuel prices by 6% and power prices by 7% on average in 2012...
you think that ain't a tax? This is on the average U.S. citizen of which I assume you are one of? You don't mind paying more for your power so you can continue to work making less and less?
And that is just the beginning....
Taxes, foreclosures, the Dow...sm
Home sales and foreclosures are up!
I hope dems do raise taxes on the rich, the million dollar and up club. I am a supporter of the flat tax. 10% (or whatever number that makes sense) across the board. Even Bill Gates other mega millionares have said themselves that the tax breaks they have received of late are unneeded.
The Dow Industrial. Now, this to me is a joke! When you have a sister and friends lose their job due to factory downsizing. Two more factories completely move overseas for lower overhead costs leaving 500+ people with no jobs. Of course the companies' stock is doing good, but now I'll ask you what does that mean to regular Joes?
Unemployment. We are doing good on that. Most everyone who wants a job is able to find work in my city. May not pay much of anything, but there is work nonetheless.
taxes, foreclosures, the Dow...
The Dems will not raise taxes on the rich. In case you had not noticed, most of the Dems in Congress ARE the rich. I am also a proponet of the flat tax; however, the Dems will never pass that either because the very low income folks will squeal (stating 10% of 10,000 hits them much harder than 10% of several million for millionaires) and it is the very low income folks who keep voting the Dems in. although those same who will complain about 10% of $10,000 also get so muuch in aid they end up better off than most hard working middle class families because of entitlements, also a Dem product, that the Dems tax the rest of us (you included) to provide for these folks so they will continue to vote for the Dems. Pretty good for Dems when it works. Trouble is, it benefits the rich club Dems and pretty much shafts the rest of the Dems, and why they can't see that is a source of wonder for me. The Dems act like rich people are the only people that got tax cuts. I don't know about you, but I brought home more on my paycheck after the Bush tax cuts. I know that the marriage penalty removal helped a LOT of people. But the Dems want to roll that back, because that was a moneymaker for them to put out in more entitlements. You should really look into what is going on before deciding that more taxes are a good thing, because trust me, it will NOT be just on the millionaire club.
As to the Dow, you better hope it stays up. Because the Dow are all the companies all over this great nation who employ many of us. Factory downsizing was slowed way down by those horrid Bush tax cuts. Factory downsizing has happened since the beginning of time and will always happen. If the Dems roll back the Bush tax cuts, stand back. You can look forward to a lot more.
Yes, unemployment is at record lows. If Dems roll back the Bush tax cuts, look out. Because medium business, mom and pop businesses, small folks who employ a LOT of people in this country will have to cut back again. Look for it to rise if tax cuts rolled back.
Stealing taxes
Actually, I had the same thing happen. I know you're mad. So am I. But you absolutely must remember the core truth -- the reason you had a tax bill that was more than your fair share and more than you could come up with by April 15th in the FIRST place was because democrats are leaning on you to fund the vote-buying giveaways with YOUR labor, YOUR income which they believe to be theirs. You are supposed to thank democrats for what they LEAVE you with, not grumble that they enforce their sick idea of social justice and obligation on people who actually get up in the morning and go work. I did the math. I had some of their constituency who are sucking on the government teat live with me for a homeless few months. I will never do that again. We are rapidly approaching a point in this country where half the country is living free off the other half. This economy will collapse when more than half live off less than half. Meaning me. And you. Remember, that you will never qualify for any government benefits under democrats because you work. You will however, qualify for their giveaway program, just not as a givee. At least the Republican plan is to share the burden of common needs (roads, defense) and let people who work hard keep as much as possible. Don't get me wrong. I am no lover of that RINO capitulator our party is running. He's made good press and put forth his false front of courage and honor, but every time he has had a chance to take a stand since he got into politics, he has compromised with the socialists. Please don't forget -- Socialism has failed everywhere it's been tried and it always will. Nonconfiscatory capitalism works. Unfortunately, we don't have that in America anymore. But we do have socialism. All socialist economies eventually collapse to third world status unless they are coupled with a political system of tyrrany and fascism. Please don't vote for the communists.
PP comes out of our taxes. NOT a private org.
Why do you think so many taxpayers are sick of it? When does the "tax us til it bleeds stop?"
Go to www.barackobama.com/taxes/
A lot more information on his website....just look.
Go to www.barackobama.com/taxes/
This will answer your questions. Actually small-business owners will be given a tax credit. It's all on the website.
I TRIED ignoring them, but my taxes won't go away!
He will raise taxes for us all.
No way to set up these government programs of his without taking money from all of us.
So you're saying more dem taxes will help
xx
He HAS to raise taxes, no way around it
All those programs will not appear out of thin air. He will grow government bigger than ever...new departments, more employees for those departments, more of my tax money blown to heck and back. People actually believe ALL this can be done with TAX CUTS!! They are in total denial.
This man have voted REPEATEDLY to NOT NOT NOT cut taxes every darn time it has come up and has pushed for tax INCREASES. For those nonbelievers, all they gotta do is go look at his voting record. It's there for the scrutinizing.
Read his lips.....
He knows people are running scared and he can zoom in and steal their good sense with telling them he will cut taxes. BUT, as soon as he is in office, it won't happen and who will he blame then? Everybody but himself!!! He will not take any responsiblity for that either.
You need to get some education in taxes
Get off that poor people pity pot. I'm so sick of it. We know poor people when we see them and that AIN'T what Obama is talking about. He wants to give to anyone and everything that sits on their butts and takes from me already. And for those half of all Americans who pay NO taxes, he wants to give them free money, even though they pay nothing into the system.
Yea, right! Boy is that fair!
We all know where this money is going and I couldn't care less if you want to harp on things that do not represent him. He is not looking out for anyone but the ones he considers "oppressed". if there is any oppression going on in this country, it is coming directly from Obama, but those he stirs the pot trying to brew up all the racial undertones he continuously spews, he knows exactly what he's doing.
I pay out my butt for those so-called poor and believe me, after all the freebies they have more than my family has. They don't worry about healthcare, food, clothes, shelter....but we do.
The "poor" as you put it sit on their butts with their 10 children all week and then drag their feet down to the ER on Friday and Saturday nights to sit and get their free medical care for their chidren, because all of them now have a sniffle. Medicaid will pay for anything, including laziness.
THere is no hatred in her heart, just fed up. We have poor people in my family and we look out for each other; they have never taken a handout. We know the truly poor when we see them and the ones getting ALL THE WINDFALL money from ME....well, honey, they ain't poor.
Leaches maybe and "illegals" maybe, but the ones in my community ain't poor. They have NEW free homes and they are a h@ll of a lot better off than the really poor.
And lets not fool ourselves as to what ACORN is really all about. They have bought black votes with alcohol, tobacco, and God only knows what else. The people they drag up by the busloads to participate in absentee ballots, well, we all know those folks don't have a clue what is going on in this world and to be honest, they don't care.
Now, if ACORN tells them hey, look, you can get a black man in the Presidency, boy oh boy, and we'll give you stuff for that vote, well, what do you think those "poor" folks you are so concerned about are going to do.
ACORN is all about the "black" vote and lets not pretend otherwise. Please give some people credit for having a real brain with real common sense.
Yes, everyone will pay more taxes under Obama...
By Ned Barnett,
I confess. Senator Obama's two tax promises: to limit tax increases to only those making over $250,000 a year, and to not raise taxes on 95% of "working Americans," intrigued me. As a hard-working small business owner, over the past ten years I've earned from $50,000 to $100,000 per year. If Senator Obama is shooting straight with us, under his presidency I could look forward to paying no additional Federal taxes -- I might even get a break -- and as I struggle to support a family and pay for two boys in college, a reliable tax freeze is nearly as welcome as further tax cuts.
However, Senator Obama's dual claims seemed implausible, especially when it came to my Federal income taxes. Those implausible promises made me look at what I'd been paying before President Bush's 2001 and 2003 tax cuts, as well as what I paid after those tax cuts became law. I chose the 2000 tax tables as my baseline -- they reflect the tax rates that Senator Obama will restore by letting the "Bush Tax Cuts" lapse. I wanted to see what that meant from my tax bill.
I've worked as the state level media and strategy director on three Presidential election campaigns -- I know how "promises" work -- so I analyzed Senator Obama's promises by looking for loopholes.
The first loophole was easy to find: Senator Obama doesn't "count" allowing the Bush tax cuts to lapse as a tax increase. Unless the cuts are re-enacted, rates will automatically return to the 2000 level. Senator Obama claims that letting a tax cut lapse -- allowing the rates to return to a higher levels -- is not actually a "tax increase." It's just the lapsing of a tax cut.
See the difference?
Neither do I.
When those cuts lapse, my taxes are going up -- a lot -- but by parsing words, Senator Obama justifies his claim that he won't actively raise taxes on 95 percent of working Americans, even while he's passively allowing tax rates to go up for 100% of Americans who actually pay Federal income taxes.
Making this personal, my Federal Income Tax will increase by $3,824 when those tax cuts lapse. That not-insignificant sum would cover a couple of house payments or help my two boys through another month or two of college.
No matter what Senator Obama calls it, requiring us to pay more taxes amounts to a tax increase. This got me wondering what other Americans will have to pay when the tax cuts lapse.
For a married family, filing jointly and earning $75,000 a year, this increase will be $3,074. For those making just $50,000, this increase will be $1,512. Despite Senator Obama's claim, even struggling American families making just $25,000 a year will see a tax increase -- they'll pay $715 more in 2010 than they did in 2007. Across the board, when the tax cuts lapse, working Americans will see significant increases in their taxes, even if their household income is as low as $25,000. See the tables at the end of this article.
Check this for yourself. Go to http://www.irs.gov/formspubs/ and pull up the 1040 instructions for 2000 and 2007 and go to the tax tables. Based on your 2007 income, check your taxes rates for 2000 and 2007, and apply them to your taxable income for 2007. In 2000 -- Senator Obama's benchmark year -- you would have paid significantly more taxes for the income you earned in 2007. The Bush Tax Cuts, which Senator Obama has said he will allow to lapse, saved you money, and without those cuts, your taxes will go back up to the 2000 level. Senator Obama doesn't call it a "tax increase," but your taxes under "President" Obama will increase -- significantly.
Senator Obama is willfully deceiving you and me when he says that no one making under $250,000 will see an increase in their taxes. If I were keeping score, I'd call that Tax Lie #1. |
Three more tax Lies at the link: http://www.americanthinker.com.....ncrea.html
That is exactly what he said. He wants to raise taxes...
on those making $250,000 or more so he can give a check to lower income folks...and a modest tax cut (while letting the Bush tax cuts expire) to the middle class. Have you looked at what we are going to lose if he lets those tax cuts expire? A whole lot more than his little tax cut will make up. He also needs the added taxation to try to help pay for all he wants to do...
The checks he is going to dole out are NOT for everyone. And they will even go to people who pay NO taxes.
THAT is rewarding laziness. That is NOT trying to help people better themselves. Would it not be better to get them a JOB than a one-time gimme check??
Ken dra, your taxes went up in just 1 week??
Honest to goodness, in a democratic controlled state. When did the democrats come back in. You make absolutely no sense with the reasoning. Your dear repubs just sent you and your home down the drain, if anything. Why, why do you continue to bash the democrats when they have been out of office for 8 YEARS!!! It seems to me like you really just bit off more than you can chew and now you are having to pay for it. I had 3 homes, 2 rentals and my own personal, paid taxes on all 3 and honey, I had no money problems with them. Next time do your math and maybe you wont get caught in a situation you have made for yourself to start with.
With all the not paying of taxes going on...
I think maybe an audit of all politicians should be undertaken? LOL! Sheesh....then again....I'd hate to see actually how many of them are screwing us even more by not paying taxes. Yeeks!!!
BECAUSE THEY DON'T PAY TAXES for starters...
You don't want govt sticking it's nose in your churches' business but you'd stick your hand out for funding?
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