Twenty-one new or higher taxes coming (courtesy of Obama)

[Acid Trip]

Since taking office, President Barack Obama has signed into law twenty-one new or higher taxes. See a complete listing of those taxes at the link below.

http://www.atr.org/comprehensive-list-obama-tax-hikes-a6433

I would have copy/pasted them but the charts become unreadable. I know the one that will hurt me the most is capital gains.

2011-2012 ( current ) Capital gains: 15% Dividends: 15% Other: 35%
2013 (Obama budget) Capital gains: 23.8% Dividends: 23.8% Other: 43.4%

[redred]

wow that site you linked likes the word Obamacare i take it isn't a balanced site?

[Acid Trip]

Everyone calls it Obamacare. They do reference the actual bills though ie. Bill: PPACA; Page: 317-337

Are you going to say PPACA or Patient Protection and Affordable Care Act? That's a mouthful.

[redred]

just asking ,i don't think over here we would ever call something like that cameroncare

[Leefro]

Cameron and care in the same sentence is an oxymoron

[Dragoness_Cutie]

Seriously? Our taxes are extremely low right now, and folks are complaining about something that could help the country, while at the same time, roughly bringing our taxes up to a normal rate?

http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm

I honestly don't see the taxes being raised as that bad a thing. Is it gonna suck a little come April 15th, since my hubby does mostly contract work where they don't take taxes out, of course it is, but it's not that bad, folks!

[Acid Trip]

Seriously? Our taxes are extremely low right now, and folks are complaining about something that could help the country, while at the same time, roughly bringing our taxes up to a normal rate?

http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm

I honestly don't see the taxes being raised as that bad a thing. Is it gonna suck a little come April 15th, since my hubby does mostly contract work where they don't take taxes out, of course it is, but it's not that bad, folks!

You can't be serious! Do you honestly think we can TAX our way to prosperity? Do you think taxing the rich more (ie me) will save us from the spending addicts we call politicians?

The top 25% wage earners pay 86% of ALL federal income taxes. The bottom 50% pay NO FEDERAL INCOME TAX. What's fair is to ask the bottom 50% to pony up and pay something. They receive all the benefits I do (Roads, National Defense, etc) and pay nothing for it.

Tax rates in 1950 were 17.4% up to $4,000- 91% above $400,000. Producing 40 Billion dollars revenue or 14.4% of GDP.

Tax Rates in 2008 were 10% up to 16,050- 35% over $357,700. Producing 2.5Trillion dollars revenue or 17.5% of GDP.

(http://www.taxpolicycenter.org/taxfacts/display afact.cfm?Docid=200) and (http://www.ntu.org/tax-basics/history-of-federa l-individual-1.html)

Lower tax rates produce more revenue no matter how you slice it. When we lowered the capital gains tax to 15% the federal government got the most money from the capital gains tax EVER in the first year! The Democrats were dumbfounded! We lowered the rate, more people invested, so overall the government got more in revenue. It's not rocket science.

If you think raising taxes is going to solve all our problems you're sadly mistaken.

[Dragoness_Cutie]

In no way do I think that raising taxes is going to solve all our problems. All I'm saying is that it might not be the worst thing, especially since our taxes are so low comparatively right now to what they've been in the past. One of the things that would probably benefit from higher taxes is more government jobs, though. More jobs available to the public is never a bad thing, especially with where our economy is right now.

[PorkChopSandwiches]

They collect more then enough in taxes currently. They need to cut back on all the waste. And fuck more government jobs, we need people to get of the tit.

[Jezter]

So Acid Trip is rich... PayPal me some?

And I think taxation is rocket science...especially in America. :lol:
But I tend to agree with Cutie here...what I have read and seen, raising them could do some good to the situation over there. It doesn't mean they have to go up and stay up forever. Just that USA is in bad shape right now and even drastic moves have to be done.

[PorkChopSandwiches]

How do you think taking more money from the people, will fix the issue which is overspending?

[Jezter]

How do you think taking more money from the people, will fix the issue which is overspending?

Obviously just raising taxes alone wont do it. It would be stupid to think so. The problems are somewhere much deeper. I just meant that raising the taxes for now in addition to the obvious needs to fix a ton of other issues, could aid to a better and faster recovery.

[Softdreamer]

I think you guys DO need to tax more, but your number one aim should be to cut politics in half. Having so many people in elected roles costs a huge amount of money, and prevents any decision making because 3000 people can never agree.

[Muddy]

DH in the hizzouse!! :dance:

[Teh One Who Knocks]

I think you guys DO need to tax more, but your number one aim should be to cut politics in half. Having so many people in elected roles costs a huge amount of money, and prevents any decision making because 3000 people can never agree.

3000? :-s

There are 435 representatives and 100 senators...that's not even close to 3000

[Muddy]

I have 2 turntables and a microphone...

[DemonGeminiX]

PAY YOUR TAXES!!!

:x











8-[

[PorkChopSandwiches]

no pay MORE taxes

[DemonGeminiX]

This trainwreck cracked me up

:lol:



http://www.youtube.com/watch?v=HsVc2IvH6fY

[PorkChopSandwiches]

That bitch is probably on Section 8 paying 0 taxes

[DemonGeminiX]

:lol:

[Teh One Who Knocks]

That bitch is probably on Section 8 paying 0 taxes


http://www.youtube.com/watch?v=fOZ-Etb0k0Q

[PorkChopSandwiches]

http://www.youtube.com/watch?v=fOZ-Etb0k0Q

thats bubba the love sponge interviewing :lol:

[DemonGeminiX]

http://www.millionface.com/l/wp-content/uploads/2008/11/obama12.jpg

[Jezter]

http://iquestionauthority.files.wordpress.com/2010/03/fkp3x4-jpg.gif

[PorkChopSandwiches]

http://dissociatedpress.com/wp-content/uploads/2010/11/bernanke-it-prints-money-375.gif

[Acid Trip]

So Acid Trip is rich... PayPal me some?

But I tend to agree with Cutie here...what I have read and seen, raising them could do some good to the situation over there. It doesn't mean they have to go up and stay up forever. Just that USA is in bad shape right now and even drastic moves have to be done.


The tax code puts me in the same group as people who make 10's of millions (or billions) of dollars every year. I don't make near that much but pay the same rate they do.

Can I ask how you think raising taxes (ie removing peoples disposable income) will help us get us out of the bad situation were in? Our economy is 70% consumer spending and you'd be taking more money away from the consumer. That's a double no-no.

[Leefro]

How do you think taking more money from the people, will fix the issue which is overspending?

Depends if they tax the right people

Which they unfortunately don't

[FBD]

you guys that are calling for more taxes simply do not understand the downstream effects of jacking up tax rates - because that's really what you're saying - we need higher tax rates. what you want to be concerned with is tax REVENUE, which time and time again has been shown to go DOWN when rates are raised too much.

there's an optimal level of taxation, and of course we all dont agree on what that level is, but cripes if your goal is more tax revenue, why would you take steps that have been proven time and again to reduce tax receipts? the government burden is already enough - if we need to generate more revenue for the gub, then one needs to consider the entirety of things that go into business decision making and business startup. that's why we keep harping about regulations, because they add a TON to business costs - so not only are businesses less likely to take on the extra burden, but that has the downstream effect of creating less wealth - less taxable wealth that the gub can get their greedy mitts on. if your business has a small profit margin and regulation and taxation increases are going to eat that up, then expanding business can potentially be a real money LOSING proposition, and THAT is the biggest reason why Obama is a big frickin wet blanket on this country.

business owners far and wide unless a committed progressive or crony capitalist are pretty plain about how bad obama has been for business. in other words, bad for america.

[Griffin]

Flat tax rate and no tax refunds for anyone that didn't pay in?

[Softdreamer]

Our economy is 70% consumer spending and you'd be taking more money away from the consumer. That's a double no-no.

Maybe thats a clue as to your economic issues.. just saying
Make stuff, instead of just buying stuff

[Softdreamer]

Most of the things in America have 'made in japan' or 'made in china' stamped on it.
Also, America's public debt is largely owned by, erm... China and Japan.

Its no coinkydink. America consumed itself into oblivion... (cue Joey B or Deebakes comment about autofellatio)

[DemonGeminiX]

I don't think Dee can bend that far.

:-k

[Southern Belle]

Don't talk to me about raising taxes. Our government has a proven record of wasting money and we're tired of paying them to waste it.

[FBD]

Maybe thats a clue as to your economic issues.. just saying
Make stuff, instead of just buying stuff

wherever there is a need for something, there will be somebody working to make a buck off of servicing that need. who are you to tell them what to do with their discretionary income? ;) we still make stuff. do you think the problem stems from not making enough stuff - or is 'not enough stuff made' a downstream result of another cause?

[Jezter]

Don't talk to me about raising taxes. Our government has a proven record of wasting money and we're tired of paying them to waste it.

The wasting needs to be fixed aswell. Otherwise raising or lowering doesn't matter one bit.
But like said before, maybe raising the taxes on the right people and places would do good. I don't know... just my feeling about the situation. It's all messed up there and everyone wants something different, but no one wants to pay for it.

[JoeyB]

Its no coinkydink. America consumed itself into oblivion... (cue Joey B or Deebakes comment about autofellatio)

Seriously dude...I still can't get the image of Ron Jeremy sucking his own cock out of my head.

Why did he have to look so pleased with pleasing himself?

His post sucking smiles haunts me...


Don't talk to me about raising taxes. Our government has a proven record of wasting money and we're tired of paying them to waste it.

Well over half of our taxes go to the military. Let's cut the waste from the biggest tax sinkhole of all, the pentagon.

[FBD]

Well over half of our taxes go to the military. Let's cut the waste from the biggest tax sinkhole of all, the pentagon.

that statement is false, unless you try including things like veterans benefits - are those analogous to the general pentagon fund? shrink that to under 40% now. "defense spending" shrinks to the 20s when you consider social security and medicare in the entire pie of "where our taxes go."

but if you're somebody like deep, then SS & medicare can be changed at any time by congress, therefore not a "true debt," and are thus conveniently left off the table for when people want to talk about percentages of the fiscal pie - our select portion of the entire pie, of course! :lol:

[Teh One Who Knocks]

Most of the things in America have 'made in japan' or 'made in china' stamped on it.
Also, America's public debt is largely owned by, erm... China and Japan.

Its no coinkydink. America consumed itself into oblivion... (cue Joey B or Deebakes comment about autofellatio)

Because nothing in the UK is imported from China or Japan, right? :rolleyes:

[FBD]

Most of the things in America have 'made in japan' or 'made in china' stamped on it.
Also, America's public debt is largely owned by, erm... China and Japan.

Its no coinkydink. America consumed itself into oblivion... (cue Joey B or Deebakes comment about autofellatio)

http://mjperry.blogspot.com/2011/09/its-investment-spending-stupid-its-sub.html#links

http://2.bp.blogspot.com/-fhz5SOPswJg/TmwOWGDr8cI/AAAAAAAAPtA/j6r_L-6T-y0/s1600/consinvest.jpg

"The economy remains moribund not because consumption spending has failed to recover and not because government spending has failed to increase, but because the true driver of economic growth—private investment—remains deeply depressed."


I had to school my buddy's uncle the other day as we were watching Obama's speech - he *hates* politics and thus pays absolutely no attention - so when he said that the rich need to pay more I had to give him some actual data to base his decision on, instead of going by what's on the TV.

Fk the TV. :lol:

People dont get that the Obama admin has utterly discouraged private investment and done little else besides amass debt akin to paying the light, heating, electric, gas bills with the credit card.

With the speech, I heard a good analogy - its like gram taking the grandkids out to buy early Xmas presents with dad's maxed out credit card, leaving dad to either deal with yet more $$ on the bill that he already cannot afford, or risk the ire of his children by returning the gifts they never should have received in the first place!

[JoeyB]

that statement is false, unless you try including things like veterans benefits - are those analogous to the general pentagon fund? shrink that to under 40% now. "defense spending" shrinks to the 20s when you consider social security and medicare in the entire pie of "where our taxes go."

but if you're somebody like deep, then SS & medicare can be changed at any time by congress, therefore not a "true debt," and are thus conveniently left off the table for when people want to talk about percentages of the fiscal pie - our select portion of the entire pie, of course! :lol:

Over half our taxes go to military spending, it's not false. That was my first point. The second point is that the pentagon is our biggest monetary sinkhole. I was not saying the pentagon directly receives over half our taxes.

[Softdreamer]

wherever there is a need for something, there will be somebody working to make a buck off of servicing that need. who are you to tell them what to do with their discretionary income? ;) we still make stuff. do you think the problem stems from not making enough stuff - or is 'not enough stuff made' a downstream result of another cause?

Im saying that if you import more than you export, where does the money come from to buy the surplus?
A country that relies on the financial sector to make up the extra money means relying on the markets, if they go bad, so does your country.


Because nothing in the UK is imported from China or Japan, right? :rolleyes:

I never have nor never will say the UK is better than the US. We dont have it sussed either dude.

But China is booming in many ways, and it isnt because of communism, its because its lending all the money and making all the merchandise.
But they dont have all the answers either.. its a floating turd in a permanently flushing toilet if you ask me

[Southern Belle]

I wouldn't mind paying more taxes if I could know that they wouldn't be squandered and wasted as they are now. I'm sick of the whole situation.