Tax Plans
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Grr;242139 wrote:
I dont see where you are coming from? How is he helping the poorer people when his taxes for up to $112k are way way higher than McCains? Also $600k and up, he will lose so much revenue it will be rediculous. He will never get any of that money from rich people because they will move it out of the country. So now instead of getting the reasonable $200k they would pay under McCain, he would get a big fat 0.Ummm...under Obamas plan, the sub 112,000 group gets more money...look at the chart again Gary.
Trust me, if the corporations/etc.. can save money by moving it overseas, they are already...they are idiots if they aren't. Trust me, if I could find a way to pay less taxes, I would...it's why I hire an accountant.
Do I think his plan is "fair". No. Is it needed at this point...perhaps.
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Grr;242139 wrote:
I dont see where you are coming from? How is he helping the poorer people when his taxes for up to $112k are way way higher than McCains? Also $600k and up, he will lose so much revenue it will be rediculous. He will never get any of that money from rich people because they will move it out of the country. So now instead of getting the reasonable $200k they would pay under McCain, he would get a big fat 0.Ummm...under Obamas plan, the sub 112,000 group gets more money...look at the chart again Gary.
Trust me, if the corporations/etc.. can save money by moving it overseas, they are already...they are idiots if they aren't. Trust me, if I could find a way to pay less taxes, I would...it's why I hire an accountant.
Do I think his plan is "fair". No. Is it needed at this point...perhaps.
Here is a pretty good article by Business Week discussing the realities of what will likely happen under the tax plans:
Business Week wrote:
<u>However, no one in Washington believes all the Bush tax cuts will be rescinded. Even under a Democratic Congress and Administration, the Bush tax cuts are likely to be kept in place for most taxpayers.</u> So economic advisers to both campaigns argue it is more realistic to judge the impact of their campaign proposals against the tax policies and rates currently in effect.
Under that scenario, the numbers for both candidates look far better, although Obama still comes out well ahead. Indeed, when compared with current tax policy, his proposals would actually increase revenues coming into government coffers. Although he has promised tax cuts to many middle- and working-class families, along with the elderly, the TPC concludes that those cuts would be offset by his plans to increase taxes on high-income families and to close corporate tax loopholes. Together, those moves would bring an estimated additional $734 billion to the Treasury over 10 years, according to the Tax Policy Center study. -
You guys do realize that the president doesn't just get to make up laws as he goes along right? I mean, he can propose them, but that in no way means they'll see the light of day in the house and senate.
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tjamz;242156 wrote:
You guys do realize that the president doesn't just get to make up laws as he goes along right? I mean, he can propose them, but that in no way means they'll see the light of day in the house and senate.Lies! A president certainly does help decide the general direction in which the country goes. Granted he can't make shit up and pass it as he goes, but he does get a say in the supreme court justices and can decide what to pass or veto when it does hit his desk.
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Supreme Court Justices are there to hold up/interpret the laws. They should not be allowed to legislate from the bench (though I will concede it does happen).
Yes, he has veto power, as he should. He can influence what gets presented, but Bush is a prime example that you don't always get what you want....even from your own party. I mean, the Republican party pretty much didn't want to go along with him on the bailout package in the House.
I've said it before, and i'll say it again. My ideal world is a republican house & senate (that does not have the ability in and of itself to override a veto) with a Democrat president to keep things in check....and a non-partisan Supreme Court.
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tjamz;242162 wrote:
Supreme Court Justices are suppose to be there to hold up/interpret the laws. They should not be allowed to legislate from the bench (though I will concede it does happen).Fixed above... the selection of supreme court justices are probably the most important part of the election this time. Neither of the candidates are going to be able to get any of their plans implemented so thats a wash. Based on this, the only logical vote would be Mccain.
DaveH
'94 Supra- 7.77 @ 176mph -
At least they voted the 2nd amendment as a personal right before there was any risk of Obama being able to load the court with liberal justices...maybe we'll luck out and if Obama is elected, we'll get a completely republican senate/house so he can't get any super-liberals through.
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First off I am no way a liberal. I went to Iraq twice in the army, and I volunteered my second deployment. I didnt go there to win the hearts and minds of them either. Second I just feel that a lot of things are in the shitter right now and this may actually help. So All those people who had money given to them from rich parents and grandparents, then used that money to start a business worked their ass off? Sounds like they were handed that money to me. And you are saying that the poor dont work their asses off? Are you serious? Yeah there are exceptions to both groups. But we have to get real someday and figure out where money is going to come from.
Redistributing the wealth isnt exactly fair, but what in this world or politcs is?
I would also adjust the proposed table to McCains for the 603k But leave what Obama has for the 2.9Million and up.
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Ah, i was just looking at the numbers, didnt see that it was the adjustment to current tax. So i correct that statement'
But, you CANNOT tax rich people an additional 700k. They will leave, its very easy to move right over to another country and i assure you they will. Aside from that, thats an additional 700k over their current tax..
So i made $3million, im already paying say 500,000 in tax. That leaves me 2.5 million to live on. You add 700k to that? your cutting my living allowance by 28%. do you realize how that is going to effect these people? Its going to take so much sales tax out of local areas and general spending its unreal. How about i go to your job and take 1/4 of your paycheck, i dont care if they have "so much extra" money, regardless of income you remove 25% of it and its an extreme adjustment.
You live on 40k, they live on 2.5mil and spend an equal amount %age wise, get over it. I dont want their money, i want to earn it on my own, if you want their money, move to a socialist country and get the fuck out of mine. Im looking to potentially inherit a large amount of money in the future and i sure as fuck want to keep it, and if i have to move out of the country to do it i will. My family busted their ass to give it to me specifically, so i wouldnt have to work as hard, their choice. So why dont you go out and earn your own way, I know for a fact that you socialist fuckers would be singing a way different tune if you happened to go win the lottery next year. Have fun keeping 35% of that money, instead of winning 100k and being better off, 35k dont mean shit. -
Grr;242316 wrote:
Ah, i was just looking at the numbers, didnt see that it was the adjustment to current tax. So i correct that statement'
But, you CANNOT tax rich people an additional 700k. They will leave, its very easy to move right over to another country and i assure you they will. Aside from that, thats an additional 700k over their current tax..
So i made $3million, im already paying say 500,000 in tax. That leaves me 2.5 million to live on. You add 700k to that? your cutting my living allowance by 28%. do you realize how that is going to effect these people? Its going to take so much sales tax out of local areas and general spending its unreal. How about i go to your job and take 1/4 of your paycheck, i dont care if they have "so much extra" money, regardless of income you remove 25% of it and its an extreme adjustment.
You live on 40k, they live on 2.5mil and spend an equal amount %age wise, get over it. I dont want their money, i want to earn it on my own, if you want their money, move to a socialist country and get the fuck out of mine. Im looking to potentially inherit a large amount of money in the future and i sure as fuck want to keep it, and if i have to move out of the country to do it i will. My family busted their ass to give it to me specifically, so i wouldnt have to work as hard, their choice. So why dont you go out and earn your own way, I know for a fact that you socialist fuckers would be singing a way different tune if you happened to go win the lottery next year. Have fun keeping 35% of that money, instead of winning 100k and being better off, 35k dont mean shit.You do bring up a good point.
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that's the average that it will go up there Gary....there are a good number making significantly more than the 2.9 million mark. I'm not trying to justify the tax increase as proposed, just making sure everyone is aware that the guy making 2.9mill won't necessarily have his taxes go up 700k+....the guy in the middle between the 2.9mill and whatever the highest income is will have his go up that much. As far as I can tell he is still basing it on percentages of earnings.
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Grr;242316 wrote:
So why dont you go out and earn your own way, I know for a fact that you socialist fuckers would be singing a way different tune if you happened to go win the lottery next year. Have fun keeping 35% of that money, instead of winning 100k and being better off, 35k dont mean shit.I don't want to pay any more taxes than anyone else....hell, I don't want to pay any taxes at all. I didn't see anyone of us sending our stimulus package checks back to uncle sam and telling him that you don't want his welfare check though either...
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I didn't receive a stimulus check either
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How the hell did you not receive one? listed as a dependent under your parents or didn't file taxes last year?
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I was claimed as a dependent...funny thing is...my parents didn't see a dime back by claiming me either!
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what he said^^^ or your parents made more than $150k last year....actually...I'm wrong. If you are over 17 and made more than $3000 of earned income last year, you should have gotten a check. Had I known you haven't gotten yours yet, I would have told you to file for an extension. The deadline to file was yesterday (not even kidding) > www.irs.gov wrote:
Q. I have not yet filed my 2007 tax return. Can I still qualify for a stimulus payment this year?
A. Yes, but you must file a 2007 tax return. The IRS encourages you to file a return even if your income is low or much of your income is tax-free. If you qualify for a payment, you can ensure that you get it by filing your return by Oct. 15, 2008.
Q. What do I need to do to get an economic stimulus payment?
A. All you need to do is file a federal income tax return for 2007. If you requested an extension to file, you will fill out your return, reporting all your income, deductions and credits as you normally would prior to Oct. 15, 2008. <u>Even if you are not otherwise required to file a tax return, you must file a 2007 return prior to Oct. 15, 2008 in order to receive a payment this year.</u> Although some filers, such as high-income filers, will not qualify for a stimulus payment, most will.
The IRS has provided special filing instructions for those who do not otherwise have a filing requirement. This includes low-income workers, Social Security beneficiaries, certain railroad retirees and those who receive certain benefits from the Department of Veterans Affairs. The instructions explain which lines on the tax return the filers need to complete.
You do not need to calculate the amount of the stimulus payment. If you want to estimate the amount of your payment, use the Economic Stimulus Payment Calculator.
If you file a return and qualify for a payment, the IRS will automatically figure it and send it to you. The IRS will also send you a notice showing the amount of your payment. You do not need to call the IRS or fill out any other special forms.
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