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The Fiscal Cliff -- Is it time?
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Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
The real problem is since the late 1940s congress has used the tax laws Interesting how the republicans want to get rid of loopholes - micromanagement - and how hard the democrats push to keep them. It really looks like a statist vs libertarian battle. |
dancer42 Send message Joined: 2 Jun 02 Posts: 455 Credit: 2,422,890 RAC: 1 |
DURING the Regan admin. a study was done with that view in mind, until it was discovered that 85% of federal government was unconstitutional at which point it was quietly slipped under a rug. both side are abusing loop hole's. |
skildude Send message Joined: 4 Oct 00 Posts: 9541 Credit: 50,759,529 RAC: 60 |
The real problem is since the late 1940s congress has used the tax laws Funny how most of those loopholes were designed to aid Rich people and corporations. COnservatives in their glee to end loopholes or deductions should consider a ceiling on deductions instead of outright removal of loopholes. I see the most abuse of loopholes coming from the wealthy anyway. Consider, Dick Cheney donating millions to the Uof Wyoming. After deductions he owed nearly nothing in taxes. I agree something needs to be done. My mother repeatedly tells me of the days she would receive her income tax paperwork. It was basically a large postcard. her tax bill was also easily paid with less than a weeks pay. Funny how things change when you want to build super duper stealth weapons. In a rich man's house there is no place to spit but his face. Diogenes Of Sinope |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
Consider, Dick Cheney donating millions to the Uof Wyoming. After deductions he owed nearly nothing in taxes. Yes, end charitable donations. http://www.foxbusiness.com/personal-finance/2012/12/24/fate-charitable-giving-resides-on-fiscal-cliff/ Congress has played with the rules that govern tax-deductible contributions to charity ever since. But on Jan.1, the charitable deduction is facing its own catastrophe if we fall off the fiscal cliff. The expiration of Bush-era tax cuts plus the introduction of the 3.8% Medicare surtax under Obamacare could cause donations to non-profit organizations to be much less financially attractive to those who can theoretically afford to give the most: upper income taxpayers. |
kittyman Send message Joined: 9 Jul 00 Posts: 51468 Credit: 1,018,363,574 RAC: 1,004 |
And in the midst of all the higher taxes coming for we, the people.... Obama, by executive order, lifted the ban on congressional pay raises last week. "So who benefits? Vice President Biden, for starters. According to disclosure forms, Biden made $225,521 last year. After his raise which goes into effect March 27, 2013, he’ll be taking home $231,900. Rank-and-file members of Congress, meanwhile, will see a $900 bump -- up from $174,000. Congressional leaders will receive a slightly higher raise, with the House speaker receiving a $1,100 salary increase to $224,600. The top two Senate leaders will see pay rise $1,000, to $194,400." Yeah, they all share our pain. "Freedom is just Chaos, with better lighting." Alan Dean Foster |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
Apparently, it is time. |
W-K 666 Send message Joined: 18 May 99 Posts: 19073 Credit: 40,757,560 RAC: 67 |
And in the midst of all the higher taxes coming for we, the people.... Did you get a rise on your basic salary this year and was it bigger than the 0.5% the politicians got? |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
And in the midst of all the higher taxes coming for we, the people.... While I received a 10% raise, if you knew how low the total still is, you'd be appalled. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
Did you get a rise on your basic salary this year and was it bigger than the 0.5% the politicians got? Because of the additional Obama taxes, the business is doing an across the board cut, not counting the 2% in additional taxes Uncle Obama is collecting now that we have gone over the cliff. |
BarryAZ Send message Joined: 1 Apr 01 Posts: 2580 Credit: 16,982,517 RAC: 0 |
That explains why business profits have been down so badly in 2012. Oh wait.... Did you get a rise on your basic salary this year and was it bigger than the 0.5% the politicians got? |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
lets see. My lights gas and phone bills have gone up. My medical insurance as gone up. Gasoline is way up, food costs are up. I havent had a raise in over 2 years. And now the do nothing, stupid, idotic , thieving fingerpointing crooks from both sides have decided I need to pay another $ 3500.00 in taxes. Obamaphones do not exist. |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
lets see. My lights gas and phone bills have gone up. My medical insurance as gone up. Gasoline is way up, food costs are up. I havent had a raise in over 2 years. And now the do nothing, stupid, idotic , thieving fingerpointing crooks from both sides have decided I need to pay another $ 3500.00 in taxes. But the dole does. [/quote] Old James |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
lets see. My lights gas and phone bills have gone up. My medical insurance as gone up. Gasoline is way up, food costs are up. I havent had a raise in over 2 years. And now the do nothing, stupid, idotic , thieving fingerpointing crooks from both sides have decided I need to pay another $ 3500.00 in taxes. Bob Dole says Bob Dole's still kicking. |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
lets see. My lights gas and phone bills have gone up. My medical insurance as gone up. Gasoline is way up, food costs are up. I havent had a raise in over 2 years. And now the do nothing, stupid, idotic , thieving fingerpointing crooks from both sides have decided I need to pay another $ 3500.00 in taxes. Im not suprised. He was in the 10th mountain Div in Italy during WW2. One tough old man. [/quote] Old James |
Sarge Send message Joined: 25 Aug 99 Posts: 12273 Credit: 8,569,109 RAC: 79 |
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Es99 Send message Joined: 23 Aug 05 Posts: 10874 Credit: 350,402 RAC: 0 |
Democratic officials say U.S. 'fiscal cliff' deal reached Reality Internet Personality |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
Democratic officials say U.S. 'fiscal cliff' deal reached When the tea party votes for it, there will be a deal, not before. |
dancer42 Send message Joined: 2 Jun 02 Posts: 455 Credit: 2,422,890 RAC: 1 |
when I started working in the early 70's a dollar was spent 18 times before federal and state taxes eat it, now it is less than 3, I fail to see how I am not paying enough, maybe I need a lot less government help? I do not think I can afford what I am getting. |
John Clark Send message Joined: 29 Sep 99 Posts: 16515 Credit: 4,418,829 RAC: 0 |
Now, if Republicans think that I will finish the job of deficit reduction through spending cuts alone — and you hear that sometimes coming from them … then they've got another thing coming.… That's not how it's going to work at least as long as I'm president," he said. "And I'm going to be president for the next four years, I think," he added. They tend to be a bit stupid, not seeing beyond their primary objective of ousting Obama even though he was democratically elected. They are happy to bankrupt the country to achieve this priority. Short sighted or what ... they should go to Spec Savers ... It's good to be back amongst friends and colleagues |
Es99 Send message Joined: 23 Aug 05 Posts: 10874 Credit: 350,402 RAC: 0 |
Now, if Republicans think that I will finish the job of deficit reduction through spending cuts alone — and you hear that sometimes coming from them … then they've got another thing coming.… That's not how it's going to work at least as long as I'm president," he said. "And I'm going to be president for the next four years, I think," he added. They should have their heads banged together and sent to bed without any supper. Reality Internet Personality |
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