Obama lied, the Economy died...
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Grr;264507 wrote:
Chuck just as an example for you on how bad these taxes are going to hurt.
A good freind of mine has owned a decent sized business (around 1.5 mil a year in revenue) since 1988. It has been expanded over the years to its current size, and has always turned a good profit, with him making around 125-150k a year.
In Jan, he sold a portion (about 1/2) of the business to somebody for a decent amount, lets just say it was 650k, since i dont know the exact amount but that seems right. Yesterday he was in with his accountant, and he was told that in order to pay the new, higher capital gains tax, and his income tax on the sale he was going to be taxed about 41%. He was pissed and basically told me he would have made more money by letting it go under and selling off the parts.
Dont know how anyone wants to take that, but its just a story about how raising capital gains and taxes on the rich hurt everybody. He had been planning on expanding the other side of the business and hiring another 3-4 people, but now he said he would have to take out a loan to do so and its no longer going to happenThe stimulus bill address the case of people who make money after they've invested in a small business. Currently, these investors are able to exclude 50 percent of their gain from capital gains taxes when they invest in small business, as an incentive to entrepreneurship. The stimulus bill raises that exclusion to 75 percent.
Sounds like he is better off under this than before....unless he is making over $200,000
smallbiz.com wrote:
Obama proposes raising the capital gains and dividends tax rate from 15% to 20% for individuals earning more than $200,000 ($250,000 for married couples), as well as limit many deductions and exemptions. Also, when incorporated business owners remove funds from the business, that money will get taxed at the dividend rate. That means highly-profitable incorporated business owners can expect to pay higher taxes as the dividend tax rate rises, notes Greg Rosica, a tax partner at Ernst & Young in Tampa, Fla. -
Trafik Jamz;264491 wrote:
3. Like him or not, he was elected to do a job. He is (for the most part) following through on what he campaigned that he would do all along: Stimulus Package; lower taxes for those under $250,000; Raise taxes on those above $250,000; make government spending more transparent. I mean seriously, the war in Iraq wasn't included in the budget in the past??? That is fiscal responsibility? Seriously?Oh ho! and this new plan is the model of fiscal responsibility! 18 million for beaver control in South Carolina? Thats responsible. Tell ya what, im gonna quit school right now, and move there, because sure as shit, someone thinks its responsible to pay beaver trappers 18 million dollars.
We've traded the war in Iraq for a more involved war in Afganistan, awsome, thanks, thats better. Come on Chuck, you can't really believe in this shit. And i know odds are you don't and you are just arguing a side, but argue the right side for once.
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Parker;264441 wrote:
what are we going to hang?use your imagination...
Trafik Jamz;264491 wrote:
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The economy was on the skids before Obama was elected. Don't try pushing off failed policies (from BOTH political parties) on 2 months in office.
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What this country needs right now is what the republicans blasted Obama for during the campaign....the perception of hope. Obama seems to have abandoned this, but I feel that if he were to start pointing out what is working, which companies are thriving, and offer some inspiration for Americans, I think that would go a long way. He seems to have forgotten about this message....that upsets me. Instead we hear "Crisis, Crisis, Crisis"...it was almost as bad as the right saying "the fundamentals of our economy are strong" and then 3 days later saying "we are heading towards a recession".
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Like him or not, he was elected to do a job. He is (for the most part) following through on what he campaigned that he would do all along: Stimulus Package; lower taxes for those under $250,000; Raise taxes on those above $250,000; make government spending more transparent. I mean seriously, the war in Iraq wasn't included in the budget in the past??? That is fiscal responsibility? Seriously?
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I think that the majority of American's are conservative. I think the majority of Republicans in the House/Senate are only conservative when they are not in power...when they have power they are as liberal as the rest of them.
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When Bush was in power I heard "He won the election, he gets to choose his agenda/cabinet/policies/etc..." from the right. Now that the roles have reversed they all turned into hypocrites.
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Refusing to work together is a horrible way to run a country. There are 100 Senators...split 60/40 D/R. IMHO any bill that gets voted on should first have to go through a group of 6 dems and 4 repubs to hammer out a good deal. There should be a fairly representative idea of what the country wants when something like this happens.
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Line item veto. It needs to happen. It would go a long ways towards eliminating Pork as the "blood" would be on the hands of the President if he didn't cut it out when it crossed his desk.
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Term limits on Senate/House members. 'Nuff said.
oh i know that the economy was in a big hurt before the election. i wasnt really a bush fan, i didnt hate him either, i wasnt a john mccain fan either, i really wish huckabee would have made beat mccain into the election. maybe this is what american needs, i dont think it is, but it could turn this nation around, and if it does, then i applaud him, but im not holding my breath
Grr;264507 wrote:
Chuck just as an example for you on how bad these taxes are going to hurt.
A good freind of mine has owned a decent sized business (around 1.5 mil a year in revenue) since 1988. It has been expanded over the years to its current size, and has always turned a good profit, with him making around 125-150k a year.
In Jan, he sold a portion (about 1/2) of the business to somebody for a decent amount, lets just say it was 650k, since i dont know the exact amount but that seems right. Yesterday he was in with his accountant, and he was told that in order to pay the new, higher capital gains tax, and his income tax on the sale he was going to be taxed about 41%. He was pissed and basically told me he would have made more money by letting it go under and selling off the parts.
Dont know how anyone wants to take that, but its just a story about how raising capital gains and taxes on the rich hurt everybody. He had been planning on expanding the other side of the business and hiring another 3-4 people, but now he said he would have to take out a loan to do so and its no longer going to happenour farm is well over the 250k mark, as with most farmers these days, but with capital tax gains like this, it is going to hurt alot of farmers, and break alot of them also. one of the many reasons i dont like obama
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GarageAlchemist;264577 wrote:
Oh ho! and this new plan is the model of fiscal responsibility! 18 million for beaver control in South Carolina? Thats responsible. Tell ya what, im gonna quit school right now, and move there, because sure as shit, someone thinks its responsible to pay beaver trappers 18 million dollars.We've traded the war in Iraq for a more involved war in Afganistan, awsome, thanks, thats better. Come on Chuck, you can't really believe in this shit. And i know odds are you don't and you are just arguing a side, but argue the right side for once.
Never said it was fiscally responsible....or at least not 100% responsible. At least now everyone can see where the pork is going since it is more readily available to sort through (www.recovery.gov) and by being transparent in where the money goes, I think it will ultimately lead to more fiscal responsibility. In the past there was just as much pork under bush/clinton/bush/etc.... it was just harder to find because the information was not as readily available.
We are now finally fighting the war we should have been fighting for the past 8 years. My biggest fear is that this is going to be too little too late. We took our eye off the mastermind of 9/11 and went after a regime that had no direct ties to it. I've been calling for this for at least 5 years. So yes, I think this is a better direction...right direction...maybe/maybe not, but if the net result is bringing Bin Laden and his organization down, then I think it is justified. We can choose to disagree on this, and that is fine.
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Just out of curiosity, can you point me to the part in the stimulus bill that points to the $18,000,000 in beaver control in SC? Or was it part of a different bill?
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checking it out now...thanks
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Hmmm....not 951 pages in the ARRA. I find only 407.
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf
Perhaps a link?
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ahh...ok
actually I wasn't being sarcastic...I provided the link and have tried searching "South Carolina"; "SC"; "Beaver"; and "wildlife" in the PDF that was attached (that limbaugh claims is an unsearchable document because it is a PDF....lol...sorry, I just found that humorous)
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fdfreak;264617 wrote:
can someone post a link on where your getting to see the bill. I cant find ithttp://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h1enr.pdf
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In an email I received awhile back. A long read but sounds 'bout right.
There was a chemistry professor in a large college that had some exchange students in the class. One day while the class was in the lab, the professor noticed one young man, an exchange student, who kept rubbing his back and stretching as if his back hurt. The professor asked the young man what was the matter. The student told him he had a bullet lodged in his back. He had been shot while fighting communists in his native country who were trying to overthrow his country's government and install a new communist regime.
In the midst of his story, he looked at the professor and asked a strange question. He asked: "Do you know how to catch wild pigs?" The professor thought it was a joke and asked for the punch line. The young man said that it was no joke. "You catch wild pigs by finding a suitable place in the woods and putting corn on the ground. The pigs find it and begin to come everyday to eat the free corn. When they are used to coming every day, you put a fence down one side of the place where they are used to coming. When they get used to the fence, they begin to eat the corn again and you put up another side of the fence. They get used to that and start to eat again. You continue until you have all four sides of the fence up with a gate in the last side. The pigs, which are used to the free corn, start to come through the gate to eat that free corn again. You then slam the gate on them and catch the whole herd.
Suddenly the wild pigs have lost their freedom. They run around and around inside the fence, but they are caught. Soon they go back to eating the free corn. They are so used to it that they have forgotten how to forage in the woods for themselves, so they accept their captivity."
The young man then told the professor that is exactly what he sees happening in America . The government keeps pushing us toward Communism/Socialism and keeps spreading the free corn out in the form of programs such as supplemental income, tax credit for unearned income, tax cuts, tax exemptions, tobacco subsidies, dairy subsidies, payments not to plant crops (CRP), welfare, medicine, drugs, etc. while we continually lose our freedoms, just a little at a time.
One should always remember two truths: There is no such thing as a free lunch (TANSTAAFL) and you can never hire someone to provide a service for you cheaper than you can do it yourself. If you see that all of this wonderful government 'help' is a problem confronting the future of democracy in America, you might want to send this on to your friends. If you think the free ride is essential to your way of life, then you will probably delete this email.
But God help you when the gate slams
'00 Chevy RCSS 4x4 - '81 Suzuki GS750L - '82 Yamaha Virago XV750 (winter project) - <u>Scroogle</u>"No dumb bastard ever won a war by dying for his country. He did it by making the other dumb bastard die for his country." - General George S. Patton
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