Does everyone understand the tax issue?

[mudwhistle]

It's as simple as this:

What school of economic thought -- Keynesian, supply-side or monetarist -- says raising taxes in a slumping economy is the recipe for a return to prosperity? There is no such school.

Why, when the whole country is talking about the need to create jobs, would Congress raise taxes on a private productive sector that employs six in seven Americans and is the creator of real jobs?

In 1982, President Reagan agreed to the same deal being offered the party today: three dollars in spending cuts for every dollar in tax increases to which he assented. As he ruefully told this writer more than once, he was lied to. He got one dollar in spending cuts for every three in tax increases.

What of the charge that the Republican House is holding America hostage, blackmailing the nation with a suicidal threat to throw us all into national default if it does not get its way?

This smear is the precise opposite of the truth.

The Republican Party has not said it will refuse to raise the debt ceiling. It has an obligation to do so, and will.

The House has simply said it will not accept new taxes on a nation whose fiscal crisis comes from overspending.

If the GOP keeps its word, raises the debt ceiling and accepts budget cuts agreed to in the Biden negotiations, the only people who can prevent the debt ceiling's being raised are Senate Democrats or Obama, in which case, they, not the GOP, will have thrown the nation into default.

It is the establishment that is resorting to extortion, saying, in effect, to the House GOP: Give us the new taxes we demand, or Obama will veto the debt ceiling and we will all blame you for the default.

Link

RealClearPolitics - An Establishment in Panic

 

[JRK]

Usually the unwritten rule of these kind of threads is that if you don't know the difference between debt and deficit,

you remain silent.

Attack the messenger
never debate the message
deficit
Main Entry:def·i·cit
Pronunciation:\ˈde-fə-sət, British also di-ˈfis-ət or ˈdē-fə-sət\
Function:noun
Etymology:French déficit, from Latin deficit it is wanting, 3d singular present indicative of deficere
Date:1782
1 a (1): deficiency in amount or quality <a &#8764; in rainfall>
(2): a lack or impairment in a functional capacity <cognitive &#8764;s> <a hearing &#8764;> b: DISADVANTAGE <scored two runs to overcome a 2–1 &#8764;>
2 a: an excess of expenditure over revenue b: a loss in business operations
Main Entry:deficit spending
Function:noun
Date:1938
the spending of public funds raised by borrowing rather than by taxation
Main Entry:attention deficit disorder

Now what exactly is your point?
Are do you even have one?

The point is, saying Clinton never had a budget surplus is idiocy.

The point is, the surplus this country enjoyed for the physical years only, and not for his entire term means what?
the GOP congress did a good job?
that maybe 9-11 did some harm to our country?

Look times were much different and one hell of allot better in 1999
UE was around 4%
it was around 5% in 2007

What amazes me is the liberal keeps beating his horn about the late 90s like tax policy had something to do with Reagan's tax cuts in the 80s?
and that when the GOP took over congress is when we had all of those good years all the way thru 2007

Look ITS ABOUT OBAMA
we have got to change the direction he has this country headed

 

[JRK]

Despite your evident classiness, one wonders why you feel the need to overestimate someone's income tax burden by ~40% to make your "taxed enough already" argument.

Green beard have you ever had to sit down and count out 50,000 dollars on tax day and have the person sitting across from you, who has no job and has no intent of getting one, looking at you and saying they demand more?
40%?
30,000?
15,000?
This about the entire system is broke and the liberal who like you pays very little to no income tax could care less

Green Beard if you understand what I am talking about you would make this about resolve
to start with the best example I can give on how broke this system is, is the amount of an issue you liberals are making about tax tables
the damn whole system is broke


I2010 Tax Computation Worksheet&#8212;Line 44
See the instructions for line 44 on page 35 to see if you must use the worksheet below to figure your tax.
CAUTION
!
Note. If you are required to use this worksheet to figure the tax on an amount from another form or worksheet, such as the Qualified Dividends and
Capital Gain Tax Worksheet, the Schedule D Tax Worksheet, Schedule J, Form 8615, or the Foreign Earned Income Tax Worksheet, enter the amount
from that form or worksheet in column (a) of the row that applies to the amount you are looking up. Enter the result on the appropriate line of the
form or worksheet that you are completing.
Section A&#8212;Use if your filing status is Single. Complete the row below that applies to you.
Tax.
(a) (b) (c) (d) Subtract (d) from (c).
Taxable income. Enter the amount from line Multiplication Multiply Subtraction Enter the result here and
If line 43 is&#8212; 43 amount (a) by (b) amount on Form 1040, line 44
At least $100,000 but not over
$171,850 $ × 28% (.28) $ $ 6,290.75 $
Over $171,850 but not over
$373,650 $ × 33% (.33) $ $ 14,883.25 $
Over $373,650 $ × 35% (.35) $ $22,356.25 $
Section B&#8212;Use if your filing status is Married filing jointly or Qualifying widow(er). Complete the row below that appl

Are you liberals going to ever make this about the problem?

http://www.irs.gov/pub/irs-pdf/i1040tt.pdf

I have an accountant do my taxes every year
the Liberal makes it always about the messenger
never about the message

Your message was that someone making 200,000 pays 70,000 in federal income taxes. Your own figures above prove that is horseshit.

Quit crying about 'attacking the messenger' when your message is being attacked.

Who said anything about crying?
and at what point have you discussed anything Obama has done?
he is the one holding this country hostage

I asked a simple question
and you have no idea what I was talking about
and what part of me correcting how much that person pays in income tax from the start of this thread have you not figured out

this thread is about the liberal hell bent on raising our tax rates
do you understand that yet?
do you understand that is no longer option?
Do you understand that if this thread was about how much a person pays in exact tax, whether it be in the form of income or capital gains, 1099, what ever has alot to do with how much there tax will be and I would have provided the appropriate documentation

You do not understand this issue because you must not pay income tax, or capital gains, gift etc...
if you did you would understand taking more of my wealth will not create anything

Hell Obama Has borrowed trillions and what has created?
a mess

The liberals have taken the focus off of the ball
why?
because it is a huge failure
whats the difference in that and a tax hike

 

[Wiseacre]

Well, I guess the answer to the OP question of whether everyone understands he tax issue is an unqualified NO. My 2 cents is that 1) taxes aren't the only factor indetermining economic growth or lack thereof, and 2) we live in a true global economy and money WILL flow to whereever it gets the best return. You can bitch all you want about fairness, but if you are enacting policies that disincentivize economic growth and investment then you are going to pay a price.

 

[JRK]

Well, I guess the answer to the OP question of whether everyone understands he tax issue is an unqualified NO. My 2 cents is that 1) taxes aren't the only factor indetermining economic growth or lack thereof, and 2) we live in a true global economy and money WILL flow to whereever it gets the best return. You can bitch all you want about fairness, but if you are enacting policies that disincentivize economic growth and investment then you are going to pay a price.

I am not bitchin
I have no issue with paying taxes

The system is broke. Obama is so far over his head
I agree that pure tax policy does little
I also know for a fact that the 30,000 I have been allowed to keep from 01 that with Clinton's tax rate I would not have
I have bought a pick up and a used travel trailer with that so the person could buy a new travel trailer

My point(s) are why dont we go to a system like Florida and Texas has?
every one pays
the more you spend, the more you pay

And when are we going to stop blaming GWB for events he had nothing to do with?
I do not blame Obama for the fall in revenue from 09
I do not blame Obama for the job losses in 09

When are going to start asking "where did the 3 trillion dollars go we did not have?
to create 18000 jobs in June of 2011?

 

[JRK]

I ask the question
does everyone understand the tax issue
Every lib that responded did so with all of there energy in attacking the messenger, not one word about the message
well here we are
Senate Democrats draft debt-reduction plan - The Washington Post
It has been 800 days sense the dems have have passed a budget in the senate

I ask why is it we could not go back to 2007 spending?
cuts across the board except for SS and Medicare
Start looking at ways to fund these programs and get hem out of the general pile

And fix this broke tax system
create one like Texas and Florida has
Open up this shale oil exploration, extraction as well as production
off shore exploration to include Florida
It amazes me people dropping there waste in the Aquifer was fine, but do not dare give a working man a chance to make living in the oil business
Turn these electrical providers lose and allow them to provide nuclear power

 

[Wiseacre]

Well, I guess the answer to the OP question of whether everyone understands he tax issue is an unqualified NO. My 2 cents is that 1) taxes aren't the only factor indetermining economic growth or lack thereof, and 2) we live in a true global economy and money WILL flow to whereever it gets the best return. You can bitch all you want about fairness, but if you are enacting policies that disincentivize economic growth and investment then you are going to pay a price.

I am not bitchin
I have no issue with paying taxes

The system is broke. Obama is so far over his head
I agree that pure tax policy does little
I also know for a fact that the 30,000 I have been allowed to keep from 01 that with Clinton's tax rate I would not have
I have bought a pick up and a used travel trailer with that so the person could buy a new travel trailer

My point(s) are why dont we go to a system like Florida and Texas has?
every one pays
the more you spend, the more you pay

And when are we going to stop blaming GWB for events he had nothing to do with?
I do not blame Obama for the fall in revenue from 09
I do not blame Obama for the job losses in 09

When are going to start asking "where did the 3 trillion dollars go we did not have?
to create 18000 jobs in June of 2011?

Wasn't singling you or anyone else out, poor choice of words maybe. I'm good with a consumption tax, or a flat tax with no deductions. I just can't see how raising taxes on the rich is going to help resolve the debt/deficit to any great degree, last I heard the CBO estimated the cost of not raising taxes for the rich was around 700 billion over 10 years. That ain't pocket change, but it doesn't come close to fixing the problem either. And it could be counter productive if those rich guys invest their money elsewhere or put it in tax shelters of some kind. When you raise taxes you incentivize those rich guys to find ways to not pay it, and they've got experts to help them do it. So maybe you get the 700 billion and maybe you get less, but for sure you're not getting as much benefit to our economy, and that's really stupid.

 

[JRK]

Well, I guess the answer to the OP question of whether everyone understands he tax issue is an unqualified NO. My 2 cents is that 1) taxes aren't the only factor indetermining economic growth or lack thereof, and 2) we live in a true global economy and money WILL flow to whereever it gets the best return. You can bitch all you want about fairness, but if you are enacting policies that disincentivize economic growth and investment then you are going to pay a price.

I am not bitchin
I have no issue with paying taxes

The system is broke. Obama is so far over his head
I agree that pure tax policy does little
I also know for a fact that the 30,000 I have been allowed to keep from 01 that with Clinton's tax rate I would not have
I have bought a pick up and a used travel trailer with that so the person could buy a new travel trailer

My point(s) are why dont we go to a system like Florida and Texas has?
every one pays
the more you spend, the more you pay

And when are we going to stop blaming GWB for events he had nothing to do with?
I do not blame Obama for the fall in revenue from 09
I do not blame Obama for the job losses in 09

When are going to start asking "where did the 3 trillion dollars go we did not have?
to create 18000 jobs in June of 2011?

Wasn't singling you or anyone else out, poor choice of words maybe. I'm good with a consumption tax, or a flat tax with no deductions. I just can't see how raising taxes on the rich is going to help resolve the debt/deficit to any great degree, last I heard the CBO estimated the cost of not raising taxes for the rich was around 700 billion over 10 years. That ain't pocket change, but it doesn't come close to fixing the problem either. And it could be counter productive if those rich guys invest their money elsewhere or put it in tax shelters of some kind. When you raise taxes you incentivize those rich guys to find ways to not pay it, and they've got experts to help them do it. So maybe you get the 700 billion and maybe you get less, but for sure you're not getting as much benefit to our economy, and that's really stupid.

I had no issue with a special tax to fund the wars
NONE
I had issue with the Medicare reform GWB signed into law because I knew then we could not pay for it

 

[Wiseacre]

I am not bitchin
I have no issue with paying taxes

The system is broke. Obama is so far over his head
I agree that pure tax policy does little
I also know for a fact that the 30,000 I have been allowed to keep from 01 that with Clinton's tax rate I would not have
I have bought a pick up and a used travel trailer with that so the person could buy a new travel trailer

My point(s) are why dont we go to a system like Florida and Texas has?
every one pays
the more you spend, the more you pay

And when are we going to stop blaming GWB for events he had nothing to do with?
I do not blame Obama for the fall in revenue from 09
I do not blame Obama for the job losses in 09

When are going to start asking "where did the 3 trillion dollars go we did not have?
to create 18000 jobs in June of 2011?

Wasn't singling you or anyone else out, poor choice of words maybe. I'm good with a consumption tax, or a flat tax with no deductions. I just can't see how raising taxes on the rich is going to help resolve the debt/deficit to any great degree, last I heard the CBO estimated the cost of not raising taxes for the rich was around 700 billion over 10 years. That ain't pocket change, but it doesn't come close to fixing the problem either. And it could be counter productive if those rich guys invest their money elsewhere or put it in tax shelters of some kind. When you raise taxes you incentivize those rich guys to find ways to not pay it, and they've got experts to help them do it. So maybe you get the 700 billion and maybe you get less, but for sure you're not getting as much benefit to our economy, and that's really stupid.

I had no issue with a special tax to fund the wars
NONE
I had issue with the Medicare reform GWB signed into law because I knew then we could not pay for it

I'm with you on that. Maybe Bush tried to out democrat the democrats, steal their thunder as it were. I dunno, but it was irresponsible to do that without specifiying how to pay for it.

 

[Susan45]

It's as simple as this:

What school of economic thought -- Keynesian, supply-side or monetarist -- says raising taxes in a slumping economy is the recipe for a return to prosperity? There is no such school.

Why, when the whole country is talking about the need to create jobs, would Congress raise taxes on a private productive sector that employs six in seven Americans and is the creator of real jobs?

In 1982, President Reagan agreed to the same deal being offered the party today: three dollars in spending cuts for every dollar in tax increases to which he assented. As he ruefully told this writer more than once, he was lied to. He got one dollar in spending cuts for every three in tax increases.

What of the charge that the Republican House is holding America hostage, blackmailing the nation with a suicidal threat to throw us all into national default if it does not get its way?

This smear is the precise opposite of the truth.

The Republican Party has not said it will refuse to raise the debt ceiling. It has an obligation to do so, and will.

The House has simply said it will not accept new taxes on a nation whose fiscal crisis comes from overspending.

If the GOP keeps its word, raises the debt ceiling and accepts budget cuts agreed to in the Biden negotiations, the only people who can prevent the debt ceiling's being raised are Senate Democrats or Obama, in which case, they, not the GOP, will have thrown the nation into default.

It is the establishment that is resorting to extortion, saying, in effect, to the House GOP: Give us the new taxes we demand, or Obama will veto the debt ceiling and we will all blame you for the default.

Link

RealClearPolitics - An Establishment in Panic

Please don't miss this scintillating article by that well known economist Pat Buchanan.

 

[JRK]

It's as simple as this:

What school of economic thought -- Keynesian, supply-side or monetarist -- says raising taxes in a slumping economy is the recipe for a return to prosperity? There is no such school.

Why, when the whole country is talking about the need to create jobs, would Congress raise taxes on a private productive sector that employs six in seven Americans and is the creator of real jobs?

In 1982, President Reagan agreed to the same deal being offered the party today: three dollars in spending cuts for every dollar in tax increases to which he assented. As he ruefully told this writer more than once, he was lied to. He got one dollar in spending cuts for every three in tax increases.

What of the charge that the Republican House is holding America hostage, blackmailing the nation with a suicidal threat to throw us all into national default if it does not get its way?

This smear is the precise opposite of the truth.

The Republican Party has not said it will refuse to raise the debt ceiling. It has an obligation to do so, and will.

The House has simply said it will not accept new taxes on a nation whose fiscal crisis comes from overspending.

If the GOP keeps its word, raises the debt ceiling and accepts budget cuts agreed to in the Biden negotiations, the only people who can prevent the debt ceiling's being raised are Senate Democrats or Obama, in which case, they, not the GOP, will have thrown the nation into default.

It is the establishment that is resorting to extortion, saying, in effect, to the House GOP: Give us the new taxes we demand, or Obama will veto the debt ceiling and we will all blame you for the default.

Link

RealClearPolitics - An Establishment in Panic

Please don't miss this scintillating article by that well known economist Pat Buchanan.

Still waiting for Toro to explain to me what it was he thought was so funny

op Gift and Estate Tax Rates for Years 2003 Through 2012
Top Gift
and Estate
Year Tax Bracket

2003 49%
2004 48%
2005 47%
2006 46%
2007 45%
2008 45%
2009 45%
2010 35% (Gift Tax Only. Estate Tax Repealed)
2011 35%
2012 35%
Toro and his co hearts claimed that a person could not owe 70,000 on a year they made 200,000
I was reminded of the first real bonuses I ever got last week
I guess attacking the messenger and not the message is the only hope they have

 

[rdean]

Revenue?
Raising taxes on corporations whether it be Exxon or Ma and Pas Bakery only means the consumer will pay more for the product

We are at a point in this country in which we must curtail spending
The middle class is squeezed all it can stand, and if you make 200,000 a year and give up 70,000 a year in income tax

Your giving up enough

The 12 largest US corporations don't pay anything and get billions in free money from the government.

Oil companies, in the middle of the biggest profits for any companies in the history of the world get tens of billions in subsidies.

Do Republicans understand that BOTH their failed policies are exactly that? Failed!

 

[skookerasbil]

Revenue?
Raising taxes on corporations whether it be Exxon or Ma and Pas Bakery only means the consumer will pay more for the product

We are at a point in this country in which we must curtail spending
The middle class is squeezed all it can stand, and if you make 200,000 a year and give up 70,000 a year in income tax

Your giving up enough

The 12 largest US corporations don't pay anything and get billions in free money from the government.

Oil companies, in the middle of the biggest profits for any companies in the history of the world get tens of billions in subsidies.

Do Republicans understand that BOTH their failed policies are exactly that? Failed!

9.2% s0n!!!

 

[editec]

Rsise or don't raise taxes...doesn't matter.

Tax policy is NOT the root cause of our economic malaise.

Neither is the national debt the root cause of our economic woes.

 

[skookerasbil]

This is a politics forum...........not an economics forum. The vast majority of Americans........unlike people who troll in here, including me.........dont give a rats ass. Its not what decides elections. The majority look at bottom line shit.

Anybody with half a brain knows you dont raise taxes when the economy is on such shakey ground.

When far left politicians start talking about raising taxes on the wealthy, they get all giddy. Politically however, the strategy is clear: Fire up the base..........and its the only hope this president has for reelection........and even then.

Think about how many dummies out there that immediately following the election were expecting Obama to pay for all their shit. We got a few snippets on the boob but imagine how many out there actually were thinking that??!!!!!!!!!!!!! Two years later........they going to go out and vote in '12. Meanwhile........the independents are gone.......the very people who elected this president.

The tax issue might be fun to debate..........but most people dont give a rats ass. The misery index is at an all time high. Elaboration necessary?

 

[Article 15]

An OP titled "does everyone understand the tax issue" posted by a dude who doesn't understand how a progressive tax system works.

Thanks for the laugh, Mr. Wurzelbacher. Loved it.

 

[8537]

It's as simple as this:



Link

RealClearPolitics - An Establishment in Panic

Please don't miss this scintillating article by that well known economist Pat Buchanan.

Still waiting for Toro to explain to me what it was he thought was so funny

op Gift and Estate Tax Rates for Years 2003 Through 2012
Top Gift
and Estate
Year Tax Bracket

2003 49%
2004 48%
2005 47%
2006 46%
2007 45%
2008 45%
2009 45%
2010 35% (Gift Tax Only. Estate Tax Repealed)
2011 35%
2012 35%
Toro and his co hearts claimed that a person could not owe 70,000 on a year they made 200,000
I was reminded of the first real bonuses I ever got last week
I guess attacking the messenger and not the message is the only hope they have

Oh, I see - you now want to move the goalposts and claim that this fictitious person making 200K and paying 70K in taxes was doing it all through the gift tax or estate tax?

Well, you'd still be wrong. And by a wide margin. Again.

And you'd still need to explain your own tax situation.

 

[Toro]

JRK

I will explain to you what I found funny.

I found funny someone starting a thread about the tax issue when he didn't understand the most basic workings of the tax code. Apparently, I'm not the only one.

I hope that helps.

 

[Misty]

Anybody making 200k and paying 70K in income taxes needs serious, serious help...and a new calculator.

The income tax on 200,000 is about 45,000 but if you add in property tax, car tax, gas tax, sales tax, and state income tax, it probably would be about 50,000 which is SICK!

 

[JRK]

Revenue?
Raising taxes on corporations whether it be Exxon or Ma and Pas Bakery only means the consumer will pay more for the product

We are at a point in this country in which we must curtail spending
The middle class is squeezed all it can stand, and if you make 200,000 a year and give up 70,000 a year in income tax

Your giving up enough

The 12 largest US corporations don't pay anything and get billions in free money from the government.

Oil companies, in the middle of the biggest profits for any companies in the history of the world get tens of billions in subsidies.

Do Republicans understand that BOTH their failed policies are exactly that? Failed!

The dems have had super majority from 09-11
to start with corporation pay no taxes, people pay taxes
if you charge the oil company 25% on there profit, the consumer will pay that 25% when it buys a gallon of gas

Let me add the dems had control of congress from 07
thats where your laws are written (unless of course you want to give the UAW 80 billion +)