Obamas "Jobs Bill" is DOA as it should be!!!!!!! Unfu***** believeable

[saveliberty]

He wasn't arguing the percentage. Skull Pilot did suggest EVERYONE else should pay the same rate. It is called fair share.

 

[OohPooPahDoo]

That was federal income tax only as I said

Add in state and FICA and we're well over 30%

And you think this is too much? How much would you LIKE to pay?

And you think it's not enough? How much would you LIKE him to pay?

Zero. No one should have to pay any taxes if they make over 100k.

 

[Skull Pilot]

Does that include your FICA or not?



I fail to see why you would think anyone of the "they" you refer to would care if you listened to them?

That was federal income tax only as I said

Add in state and FICA and we're well over 30%

And you think this is too much? How much would you LIKE to pay?

Yes I think the government confiscating over 30% of my money is excessive. You don't?

Oh that's right you don't pay that much right?

For one I would knock 15% right off the top and get rid of Social security and medicare. I could save that 15% myself over a lifetime and retire a multimillionaire.

And personally a simplified tax code where every individual paid in 10-15% of gross income, no deductions no exemptions would be my preference

Just the savings alone from slashing the costs of the IRS and all the other legislative bullshit that goes along with the tax code would add up to billions a year.

 

[OohPooPahDoo]

He wasn't arguing the percentage. Skull Pilot did suggest EVERYONE else should pay the same rate. It is called fair share.

I guess we need to eliminate homestead exemptions for property taxes, too then, right?

 

[pgm]

So, since no one seems to visit the Economy sub forum, I thought I'd link my post here. Ignoring the IMF being hypocritical in now arguing against something it has demanded from every nation in the past, I think this argues there is some necessity in passing some kind of jobs bill. The expiration of the payroll tax holiday plus cuts in government spending are estimated at 2% of GDP.

Edit: consolidations refers to any spending cut or tax increase designed to reduce the deficit.

 

[OohPooPahDoo]

That was federal income tax only as I said

Add in state and FICA and we're well over 30%

And you think this is too much? How much would you LIKE to pay?

Yes I think the government confiscating over 30% of my money is excessive. You don't?

Oh that's right you don't pay that much right?

I'd love to be in the 28% bracket, most Americans would.

For one I would knock 15% right off the top and get rid of Social security and medicare. I could save that 15% myself over a lifetime and retire a multimillionaire.

You can predict the future?

 

[Skull Pilot]

He wasn't arguing the percentage. Skull Pilot did suggest EVERYONE else should pay the same rate. It is called fair share.

I guess we need to eliminate homestead exemptions for property taxes, too then, right?

I have been speaking only of income and payroll taxes.

If you want to add in every tax that people pay then we're probably pushing close to 50% of people's income going to taxes.

 

[Skull Pilot]

And you think this is too much? How much would you LIKE to pay?

Yes I think the government confiscating over 30% of my money is excessive. You don't?

Oh that's right you don't pay that much right?

I'd love to be in the 28% bracket, most Americans would.

For one I would knock 15% right off the top and get rid of Social security and medicare. I could save that 15% myself over a lifetime and retire a multimillionaire.

You can predict the future?

Yes and I know I can do better than the fucking government when it comes to a return on my money.

 

[OohPooPahDoo]

He wasn't arguing the percentage. Skull Pilot did suggest EVERYONE else should pay the same rate. It is called fair share.

I guess we need to eliminate homestead exemptions for property taxes, too then, right?

I have been speaking only of income and payroll taxes.

If you want to add in every tax that people pay then we're probably pushing close to 50% of people's income going to taxes.

I've read its closer to 40%.

 

[OohPooPahDoo]

Yes I think the government confiscating over 30% of my money is excessive. You don't?

Oh that's right you don't pay that much right?

I'd love to be in the 28% bracket, most Americans would.

For one I would knock 15% right off the top and get rid of Social security and medicare. I could save that 15% myself over a lifetime and retire a multimillionaire.

You can predict the future?

Yes and I know I can do better than the fucking government when it comes to a return on my money.

Wow. How do you predict the future? And what asset would you buy that is backed by something bigger than the U.S. economy?

 

[Skull Pilot]

I guess we need to eliminate homestead exemptions for property taxes, too then, right?

I have been speaking only of income and payroll taxes.

If you want to add in every tax that people pay then we're probably pushing close to 50% of people's income going to taxes.

I've read its closer to 40%.

Oh so 40% of income confiscated is OK with you?

Or is it only OK when it's not your money?

 

[Skull Pilot]

I'd love to be in the 28% bracket, most Americans would.


You can predict the future?

Yes and I know I can do better than the fucking government when it comes to a return on my money.

Wow. How do you predict the future? And what asset would you buy that is backed by something bigger than the U.S. economy?

My portfolio over the past 20 years has consistently outperformed any government bond and certainly has outperformed the return on the so called SS trust fund.

 

[OohPooPahDoo]

I have been speaking only of income and payroll taxes.

If you want to add in every tax that people pay then we're probably pushing close to 50% of people's income going to taxes.

I've read its closer to 40%.

Oh so 40% of income confiscated is OK with you?

Or is it only OK when it's not your money?

I pay taxes.

 

[OohPooPahDoo]

Yes and I know I can do better than the fucking government when it comes to a return on my money.

Wow. How do you predict the future? And what asset would you buy that is backed by something bigger than the U.S. economy?

My portfolio over the past 20 years has consistently outperformed any government bond and certainly has outperformed the return on the so called SS trust fund.

??? OK - I asked how you can predict the FUTURE - and you make a remark about PAST returns?

Do you know the difference between the future and the past?

 

[bigrebnc1775]

Wow. How do you predict the future? And what asset would you buy that is backed by something bigger than the U.S. economy?

My portfolio over the past 20 years has consistently outperformed any government bond and certainly has outperformed the return on the so called SS trust fund.

??? OK - I asked how you can predict the FUTURE - and you make a remark about PAST returns?

Do you know the difference between the future and the past?

facts are looking to the past and seeing how things worked wilkl always be pridictable to work well in the future

 

[OohPooPahDoo]

facts are looking to the past and seeing how things worked wilkl always be pridictable to work well in the future

Only if past observation leads to verifiable scientific theory. For one thing - just looking at the U.S. stock market over the past 100 years - that's a very small sliver of the total stock markets and it falls prey to selection bias. The U.S. stock market over the past 100 years is almost a statistical out lier when you look at markets in other places and at other times. Its a bit like finding out you've won the lottery after buying 10 lotto tickets - and then assuming that if you buy 10 more, you'll win again.

Economic theory has yet to be able to explain the equity premium. Since it is a poorly understood feature of the market, it would be fool to base your financial decisions on an assumption that it will exist in the future.


Morons lose tons of money every year by investing in stocks based on their past performance.

 

[Bfgrn]

New CNN Poll: Majority want tax increase for wealthy and deep spending cuts

Nearly two-thirds say no to major changes to Social Security and Medicare. And nearly nine in ten don't want any increase in taxes on middle class and lower income Americans.

"Republicans and Democrats disagree on the need for cuts in domestic and military spending, as well as tax increases for higher-income Americans, but they do agree that the committee should stay away from tax hikes for the middle class and major changes to Social Security and Medicare," says CNN Polling Director Keating Holland.

According to the survey, only a third say that taxes on wealthy people should be kept low because higher-income Americans help create jobs, with 62 percent saying that taxes on the wealthy should be high so the government can use the money for programs to help lower-income Americans.

"Nearly 90% of wolves polled wanted to have sheep for dinner. 100% of sheep respondents disagreed."

Wolves and sheep can't answer a survey. But the law of the jungle seems to be the right wing idea of a society.

 

[Skull Pilot]

I've read its closer to 40%.

Oh so 40% of income confiscated is OK with you?

Or is it only OK when it's not your money?

I pay taxes.

I think you should pay more.

 

[Skull Pilot]

Wow. How do you predict the future? And what asset would you buy that is backed by something bigger than the U.S. economy?

My portfolio over the past 20 years has consistently outperformed any government bond and certainly has outperformed the return on the so called SS trust fund.

??? OK - I asked how you can predict the FUTURE - and you make a remark about PAST returns?

Do you know the difference between the future and the past?

By managing my portfolio I am predicting the future. For example I dumped a ton of real estate and bank stocks before the bubble burst because I saw it coming.

Too bad the idiots in the government didn't see it coming eh?

 

[IndependntLogic]

Its been anounced that his bill is proposed to be paid through TAX INCREASES 400 billion dollars worth of tax increases on anyone making over 200k a year. Essentially eliminating deductions for ....

healthcare
charity
mortgage
state and local taxes (essentially taxing you twice if this passes)

And raising gas and oil taxes (as if the damn gas wasnt expensive enough as it is)


In early 2009 when the democrats controlled BOTH houses they tried and failed to pass these increases in taxes to pay for Obamacare. Now they plan to try again and blame the gop.


All this doublespeak about taxes is making me dizzy. These very increases were also mentioned as a way to decrease our debt. Obama and his minyons seem to think tax increases are the solution to every problem. NOT ONE WORD ABOUT CUTTING SPENDING

And now word that Bank Of America is planning on firing 30,000 people in the next couple of years. So yea, lets raise all these taxes and see how much further down the rabbit hole we can fall.

The GOP better stand firm!!!

COME ON 2012

Tax Hikes to Pay for Obama's Jobs Plan - Fox News Video - Fox News

Mr. Obama proposed limiting itemized deductions for families with taxable income of $250,000 or more a year, ending tax breaks for oil companies and corporate jet owners, and cutting out a tax break for investment-fund managers. The White House says the tax changes would take effect in 2013 and estimates they would raise $467 billion in additional revenue over 10 years.

Well the above seems significantly different than the claims of the OP.
1. Limiting is not eliminating.
2. $250K is not $200K.
3. I could give a flying fudgsicle about giving special tax breaks to Big Oil and am personally against giving them to ANY corp that doesn't hire 100% American and pay their taxes 100% in America.
4. I am definitely not losing sleep over corporate jet owners not getting breaks.
5. I am also not concerned about special breaks for those poor fund managers either.

I doubt he'll get all this anyway.
I think 1 & 2 would be colossally stupid on Obama's part. Items 3 - 5 are just fine by me. I don't think Big Oil OR GE or any company should get special help from the government. What was it Reagan said about companies that can't survive without help from the government? Oh yeah, they shouldn't survive.
Although in the current environment, I would be okay with this for companies that hire 100% American & pay their taxes 100% in America.
My view on this doesn't change because a government / industry is a pet of either the GOP or Dems.