Taxing your kid's college money to give free college to someone else...the obama way....

[AmericanFirst]

So yes redistribute but only to things and to the level you say is cool. Sorry, it doesnt work that way and never has. Sounds like you have a recipe for being eternally upset

So you think it is fair to tax people for saving for college while we pay others to go?

Link?

You are the one arguing we should not complain about the plan.

I know and I'm asking where that part is in the plan. Link or nah?

It was already linked. I am not your nanny.

He needs a nanny like most libtards.

 

[AmericanFirst]

So only the 1% save money for their kids college?

We're talking about raising taxes, right?

So when you say "doesn't think WE are paying enough" who are you talking about?

Maybe you need to read the op again. I think everyone should pay 25% tax on income, nothing else. If government can't survive on 25% of the money made in America. Then it's to big.

No I dont need to read the OP. You said that "my ilk thinks WE dont pay enough"? Who is we? Because the taxes proposed are toward the people who have longer money than you do.

So who is we? The poor?

What I'm saying the government gets enough money off us citizens. Do you agree?

What you're saying is ....just anything to deflect from the last bullshit thing you said. Fuck off stupid

You are the stupid one.

 

[Brain357]

I hope the middle class wakes up and realize liberals are the enemy to common sense.

Think you should change that to politicians. I don't see either side doing much good.

 

[Brain357]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

Obama s Plan Will Tax College Savings - Breitbart

“Under current law, 529 plans work like Roth IRAs: you put money in, and the money grows tax-free for college. Distributions are tax-free provided they are to pay for college.”

Obama’s plan would change that, and “earnings growth in a 529 plan would no longer be tax-free.” In the future, they would be subject to taxation upon withdrawal, whether or not the intent is to use the money for college. In essence, the law would revert to what it was prior to 2001.

Americans for Tax Reforms looked at other details of Obama’s plan, as well. The plan would also include a capital gains rate hike, a stealth increase in the death tax rate from 40% to nearly 60%, a bank tax, plus tax increases on retirement plans, along with a new employer mandate.

Think a balanced budget should be first plan. Then move on from there.

 

[jknowgood]

I hope the middle class wakes up and realize liberals are the enemy to common sense.

Think you should change that to politicians. I don't see either side doing much good.

Can't argue with that.

 

[ClosedCaption]

We're talking about raising taxes, right?

So when you say "doesn't think WE are paying enough" who are you talking about?

Maybe you need to read the op again. I think everyone should pay 25% tax on income, nothing else. If government can't survive on 25% of the money made in America. Then it's to big.

No I dont need to read the OP. You said that "my ilk thinks WE dont pay enough"? Who is we? Because the taxes proposed are toward the people who have longer money than you do.

So who is we? The poor?

What I'm saying the government gets enough money off us citizens. Do you agree?

What you're saying is ....just anything to deflect from the last bullshit thing you said. Fuck off stupid

You are the stupid one.

Who's girlfriend

 

[AmericanFirst]

M

Maybe you need to read the op again. I think everyone should pay 25% tax on income, nothing else. If government can't survive on 25% of the money made in America. Then it's to big.

No I dont need to read the OP. You said that "my ilk thinks WE dont pay enough"? Who is we? Because the taxes proposed are toward the people who have longer money than you do.

So who is we? The poor?

What I'm saying the government gets enough money off us citizens. Do you agree?

What you're saying is ....just anything to deflect from the last bullshit thing you said. Fuck off stupid

You are the stupid one.

Who's girlfriend

y point exactly stupid

 

[SteadyMercury]

Maybe I need turbo tax.

Or a basic understanding of how a tiered tax system works before you start making silly claims about paying 50% of your income in taxes.

 

[jknowgood]

Maybe I need turbo tax.

Or a basic understanding of how a tiered tax system works before you start making silly claims about paying 50% of your income in taxes.

I didn't say 50% on income taxes, I said by the time you add all taxes and fees you probably pay around 50% tax.

 

[ClosedCaption]

Maybe I need turbo tax.

Or a basic understanding of how a tiered tax system works before you start making silly claims about paying 50% of your income in taxes.

I didn't say 50% on income taxes, I said by the time you add all taxes and fees you probably pay around 50% tax.

tsk tsk tsk

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

 

[SteadyMercury]

I didn't say 50% on income taxes, I said by the time you add all taxes and fees you probably pay around 50% tax.

Then as your first point of support pointed out 35% income tax, which is what someone making almost a million bucks a year would pay.

So let's do the math, what income should we use? I'd like to see how you can make this work.

 

[SteadyMercury]

Let's just use your list, and take someone with an income of 75k, which is about 50% higher than the median household income.

35% income tax
30¢ gallon tax on gas
State sales tax 6% on each dollar
Property tax
Car tax
I pay $7.00 a month city tax on my water bill, plus federal tax.
Pay extra taxes on my power bill
Taxes on my car insurance bill
8% tax on prepared food by dollar
That's just for starters.

Income tax on 75k is about $12k (source = TurboTax TaxCaster Free Tax Calculator Free Tax Refund Estimator
500 gallons per year * .30 = $150 gas
State sales tax is a tough one, how much do you spend on retail? At $1500/month at 6% = 90 * 12 = $1,080 annually
Property tax obviously depends, let's go with $2,000 (some avgs here = Property Tax )
Social security and medicare = 75k * 7.65% = $5,737

So for income tax + sales tax + gas + property taxes + fica so far we're a little under $21k, or about 28% of income spent on taxes. So all we need for your numbers to work is for all the ones like taxes on power bill, car insurance bill, etc. to come out to add up to $16,500k annually, or $1,375 per month.

What am I missing?

 

[2aguy]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

Obama s Plan Will Tax College Savings - Breitbart

“Under current law, 529 plans work like Roth IRAs: you put money in, and the money grows tax-free for college. Distributions are tax-free provided they are to pay for college.”

Obama’s plan would change that, and “earnings growth in a 529 plan would no longer be tax-free.” In the future, they would be subject to taxation upon withdrawal, whether or not the intent is to use the money for college. In essence, the law would revert to what it was prior to 2001.

Americans for Tax Reforms looked at other details of Obama’s plan, as well. The plan would also include a capital gains rate hike, a stealth increase in the death tax rate from 40% to nearly 60%, a bank tax, plus tax increases on retirement plans, along with a new employer mandate.

Think a balanced budget should be first plan. Then move on from there.

The problem with a balanced budget...the dems want to balance it by raising taxes as much as they have to to balance the budget.....not quite what I would have in mind....

 

[theHawk]

Yes, you save, and you sacrifice and you put a little money away in a program to help pay for your kids to go to college...you work overtime, you take an extra job....and you are the bad guy....because you have saved money to send your kid to college....you must be one of the greedy rich right....so f**k you.....we are going to tax your kid's college money because you are a greedy scumbag..........right? Isn't that how the left sees it....and isn't that how obama sees it......since he is a moron with no concept of reality.....?

Obama s Plan Will Tax College Savings - Breitbart

“Under current law, 529 plans work like Roth IRAs: you put money in, and the money grows tax-free for college. Distributions are tax-free provided they are to pay for college.”

Obama’s plan would change that, and “earnings growth in a 529 plan would no longer be tax-free.” In the future, they would be subject to taxation upon withdrawal, whether or not the intent is to use the money for college. In essence, the law would revert to what it was prior to 2001.

Americans for Tax Reforms looked at other details of Obama’s plan, as well. The plan would also include a capital gains rate hike, a stealth increase in the death tax rate from 40% to nearly 60%, a bank tax, plus tax increases on retirement plans, along with a new employer mandate.

His plan should be called No Thug Left Behind.

 

[Dont Taz Me Bro]

This plan will never get off the ground, so who cares?

 

[RetiredGySgt]

Maybe I need turbo tax.

Or a basic understanding of how a tiered tax system works before you start making silly claims about paying 50% of your income in taxes.

I didn't say 50% on income taxes, I said by the time you add all taxes and fees you probably pay around 50% tax.

tsk tsk tsk

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

That does not say all in INCOME TAX. last I checked any fee , sales tax or other tacked on tax comes from ones income.

 

[Roadrunner]

Maybe I need turbo tax.

Or a basic understanding of how a tiered tax system works before you start making silly claims about paying 50% of your income in taxes.

I didn't say 50% on income taxes, I said by the time you add all taxes and fees you probably pay around 50% tax.

tsk tsk tsk

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

That does not say all in INCOME TAX. last I checked any fee , sales tax or other tacked on tax comes from ones income.

For the billionth time, be specific.

Otherwise, same old shit comes up.

 

[RetiredGySgt]

Maybe I need turbo tax.

Or a basic understanding of how a tiered tax system works before you start making silly claims about paying 50% of your income in taxes.

I didn't say 50% on income taxes, I said by the time you add all taxes and fees you probably pay around 50% tax.

tsk tsk tsk

Nothing wrong with basic taxes to make the government preform it's basic duty, but after it's all said and done we pay over 50% of our income in taxes, and that's bullshit.

That does not say all in INCOME TAX. last I checked any fee , sales tax or other tacked on tax comes from ones income.

For the billionth time, be specific.

Otherwise, same old shit comes up.

I didn't make the claim all I am pointing out is he never said in Income tax.

 

[Political Junky]

Obama's proposed capital gains tax is the same as Reagan's. The Right is so full of it.