Obama Announces Huge Tax Increases Are Only Solution

[kiwiman127]

I'm all for dropping the mortgage deduction, and charitable deductions as well. But lower the over-all tax rate after that.

The mortgage deduction is 3/4 of my itemized deduction.

Sorry, dude.
But the fact is that 1) most middle class people don't itemize so get no benefit, and 2) there is no reason to subsidize home ownership over any other class of investment.

Personally even if rates went up slightly it would be worth it if the tax code became dead simple. How many hours did it take people to do their taxes this year? How much is that worth to you?

Actually, you're wrong,,again.

Five Most Common Tax Deductions

1. Home Mortgage Interest
2. Charitable Donations
3. Income Taxes Paid
4. Real Estate Taxes Paid
5. Medical & Dental Expenses

Five Most Common Tax Deductions

 

[LibocalypseNow]

Typical bloated Government response...Blame the Taxpayers for them spending $15 Trillion more than they took in. Yea how is that the Taxpayers' fault? I must be missing something. Yikes!

 

[Samson]

Bullshit! I pay enough freaking taxes. The government is so f'd up nobody is ever going to fix it. I already am doing more with less. The government and the people with hand outs to the government should do the SAME! It is disgusting.

Little man.





[youtube]3pPYqGVTOwE[/youtube]

 

[logical4u]

Once again Obama has shown his plan all along. Raise taxes.

He wants to remove home interest payments as a deduction.

Trust me, this will include everyone, not just those who make over $200k.

Also, he says he wants to remove charitable contributions as well.

Folks, this isn't all he plans to do. He's just telling us the part he thinks we want to hear.

I guess you can drop all the rhetoric over how he's cut taxes now. It was all smoke and mirrors anyway.

If the "serfs" own their own property, it will be harder to "control" them. It is easy to control people when you threaten to throw their family into the street (that is why those that don't pay taxes vote for dems). It is also easy to control them when you can "grant" or "withhold" health care (especially for their children). Obama's plan is to turn citizens into serfs (you are owned by your territorial lord), and you will pay whatever taxes they tell you to pay.... or else.

 

[GWV5903]

One doesn't work without the other, not to mention you will kill the housing industry, why buy and have to maintain the home, this one is anti growth....

I think people should be able to write off expenses related to market consultation services. Failing to allow people to write off such expenses will kill the industry.

My neighbor owns a restaurant franchise (true story!). He thinks people should be able to get a tax deduction for money they put on their credit cards at chain restaurants. Failing to allow people to deduct restaurant expenses will kill the industry.

The guy down the street is a plumber. He thinks people should...well, you get the point.

Back in the old days you could deduct any interest payment. Reagan elminated that. And industry survived.

So the RTC of the late '80's and our recent bailout of the banks is regarded as a success in your books? I didn't see any home builders getting bailed out, as a matter of fact all I have seen is companies with Union ties getting tax payer support, could it be they are funding someones campaign, just a thought....

 

[Flopper]

lol.....Obama REALLY doesnt get it.

He claimed that HE does not need another tax cut. He sees himself as no different than the rest of the "wealthy"...

What he seems to not understand is that he, and a small portion of the wealthy do not have an income based on the revenue of a company....and visa versa......He can not grasp the concept that if his taxes were a bit higher it may affect his ability to grow a company.

He IGNORES the logic that a large portion of the wealthy are the ones that can grow the economy.

Thus what happens when you elect a President that has never had the fiscal responsibility to anything buyt himself and his family.

Two points:

1. Obama doesnt understand his own finances but you do yeah, ok
2. They CAN grow the economy, but if you look at what is happening right in front of your eyes. They ARE NOT growing the economy after how many years of tax cuts.

Two points...

1. I said he doesnt understand his own finances? WHere?
2. If you had a business mind you would be thrilled with the growth that existed in the 2000's.

The problem is, you dont and all you have to go with is what thge media tells you.

Sample:

from 2000-2007...
Population grew
voice mail replaced tens of thosuands of receptionsists nationally
search engines replaced tens of thosuands of research people
computers replaced tens of thousands of secretaries

yet...

Unemployment never grew....well...until the recession....which anyone with a business mind is aware that such is cyclical and a function of market saturation..

But I dont want to make it too complicated for you....so lets just say you are wrong and move on.

I don't know if I would be thrilled with the growth in the 2000's.
GDP growth since 2000 is the worst in 3 decades, 24%.

 

[Samson]

Most people don't itemize and therefore don't get the benefit. But people still buy houses anyway.
People will also contribute money anyway to causes they believe in. And if rates are lowered they will have more money in their own pockets to do just that.

Rabbi, we have 63% homeownership in this country, why do you believe they do not itemize???

The small donations are important, but the larger ones carry the load....

I am all for reforming the Tax Code and lower taxes for all, but why are we going to try and label mortgage deductions & charitable contributions as a solution, when both are very good for our overall economy? We have a spending problem, not a revenue problem...

To ridicule and continue the same old BS rhetoric is nothing more than the same old crap we have endured way too long....

Do you think that if people had a low, flat tax rate they would quit donating to charities?


I don't. The ones that provide a valuable service will continue to receive donations. The ones that are tax shelter scams won't.

The point is that "people" don't know what the fuck to do with their money.

Only the Government is qualified to know what to do with "people's" money.

 

[B. Kidd]

It's the worst housing market since the end of WWII. Lobbyists are already gearing up to fight removing home interest payments as a deduction.

 

[The Rabbi]

One doesn't work without the other, not to mention you will kill the housing industry, why buy and have to maintain the home, this one is anti growth....

As for charitable contributions, you will stifle the good that is done by society and make the dependent lean more on government, that falls right into his socialist trap....

Most people don't itemize and therefore don't get the benefit. But people still buy houses anyway.
People will also contribute money anyway to causes they believe in. And if rates are lowered they will have more money in their own pockets to do just that.

Rabbi, we have 63% homeownership in this country, why do you believe they do not itemize???

The small donations are important, but the larger ones carry the load....

I am all for reforming the Tax Code and lower taxes for all, but why are we going to try and label mortgage deductions & charitable contributions as a solution, when both are very good for our overall economy? We have a spending problem, not a revenue problem...

To ridicule and continue the same old BS rhetoric is nothing more than the same old crap we have endured way too long....

Firsty off, what would persuade you that a large number of middle class homeowners do not itemize?
Second, if we are to get any simplification in the tax code we have to start somewhere. Artificially inflating the value of homes is absurd. People think they are getting one over on the gov't. In fact we all get screwed by this deduction. It creates gross inefficiencies, especially at the top end. Houses are poor investments.

 

[LibocalypseNow]

Maybe he could stop Bombing Libya? Probably save a few Bucks there no? I just don't get how this President & Democrats always want to blame & punish the Taxpayers. It's not the Taxpayers who spent us $15 Trillion into Debt. The Government did that. The Taxpayers just sent their hard-earned money in and then the Government went on to spend $15 Trillion more than they took in. How is that the Taxpayers' fault. It's time to quit blaming Taxpayers. It's time to blame the Government.

 

[The Rabbi]

The mortgage deduction is 3/4 of my itemized deduction.

Sorry, dude.
But the fact is that 1) most middle class people don't itemize so get no benefit, and 2) there is no reason to subsidize home ownership over any other class of investment.

Personally even if rates went up slightly it would be worth it if the tax code became dead simple. How many hours did it take people to do their taxes this year? How much is that worth to you?

Actually, you're wrong,,again.

Five Most Common Tax Deductions

1. Home Mortgage Interest
2. Charitable Donations
3. Income Taxes Paid
4. Real Estate Taxes Paid
5. Medical & Dental Expenses

Five Most Common Tax Deductions

Geez are you an ignorant piece of shit.
What do you think you are proving with this information?

 

[Spoonman]

Once again Obama has shown his plan all along. Raise taxes.

He wants to remove home interest payments as a deduction.

Trust me, this will include everyone, not just those who make over $200k.

Also, he says he wants to remove charitable contributions as well.

Folks, this isn't all he plans to do. He's just telling us the part he thinks we want to hear.

I guess you can drop all the rhetoric over how he's cut taxes now. It was all smoke and mirrors anyway.

We all knew this was coming. Of course we had all of the koolaid drinking libs assuring us it wasn't. They said, listen to him, our taxes are lower than ever. *coughs* yea right. Well we told you so, and once again we were right

 

[Samson]

It's the worst housing market since the end of WWII. Lobbyists are already gearing up to fight removing home interest payments as a deduction.

Yeah, I cannot imagine this would make the banking industry whose asses we all just pulled out of the fire, very happy. The whole point of borrowing well over what you could ever hope to payback in the mortgage is to increase your deductable.

 

[The Rabbi]

It's the worst housing market since the end of WWII. Lobbyists are already gearing up to fight removing home interest payments as a deduction.

Yeah, the Realtors (r) will fight it tooth and nail. So what?
Keeping the deduction is not going to restore the housing market. Only allowing lenders to foreclose and let the market clear will do that.

 

[DiamondDave]

I'm all for dropping the mortgage deduction, and charitable deductions as well. But lower the over-all tax rate after that.

Holy shit batman - I agree with Rabbi

Then you have just a little further to step in going to an equal % flat tax for all, no matter the income level.. simplify and equalize... I know you can see it, just will you take the step??

 

[drsmith1072]

Once again Obama has shown his plan all along. Raise taxes.

He wants to remove home interest payments as a deduction.

Trust me, this will include everyone, not just those who make over $200k.

Also, he says he wants to remove charitable contributions as well.

Folks, this isn't all he plans to do. He's just telling us the part he thinks we want to hear.

I guess you can drop all the rhetoric over how he's cut taxes now. It was all smoke and mirrors anyway.

Did he actually say that tax increases are the ONLY solution or did you just make that up??

 

[boedicca]

Once again Obama has shown his plan all along. Raise taxes.

He wants to remove home interest payments as a deduction.

Trust me, this will include everyone, not just those who make over $200k.

Also, he says he wants to remove charitable contributions as well.

Folks, this isn't all he plans to do. He's just telling us the part he thinks we want to hear.

I guess you can drop all the rhetoric over how he's cut taxes now. It was all smoke and mirrors anyway.

If the "serfs" own their own property, it will be harder to "control" them. It is easy to control people when you threaten to throw their family into the street (that is why those that don't pay taxes vote for dems). It is also easy to control them when you can "grant" or "withhold" health care (especially for their children). Obama's plan is to turn citizens into serfs (you are owned by your territorial lord), and you will pay whatever taxes they tell you to pay.... or else.

Actually, considering the underwater nature of many people's mortgages, controlling them via their property is quite easy. They are under the thumb of Big Banks for the mortgage - and under the thumb of the government for the tax impact of defaulting on their loans. Any loan balance in excess of a short sale or foreclosure sale is charged to the hapless mortgage holder ad income.

 

[Samson]

Sorry, dude.
But the fact is that 1) most middle class people don't itemize so get no benefit, and 2) there is no reason to subsidize home ownership over any other class of investment.

Personally even if rates went up slightly it would be worth it if the tax code became dead simple. How many hours did it take people to do their taxes this year? How much is that worth to you?

Actually, you're wrong,,again.

Five Most Common Tax Deductions

1. Home Mortgage Interest
2. Charitable Donations
3. Income Taxes Paid
4. Real Estate Taxes Paid
5. Medical & Dental Expenses

Five Most Common Tax Deductions

Geez are you an ignorant piece of shit.
What do you think you are proving with this information?

It seems someone is too stupid to realise they are agreeing with you.

 

[The Rabbi]

I'm all for dropping the mortgage deduction, and charitable deductions as well. But lower the over-all tax rate after that.

Holy shit batman - I agree with Rabbi

Then you have just a little further to step in going to an equal % flat tax for all, no matter the income level.. simplify and equalize... I know you can see it, just will you take the step??

It runs contrary to leftist ideals of equality, where wealthy people pay through the nose and poor people get lots of benefits. Doesn't that sound equal to you? You give me half your stuff and I'll let you keep the rest.

 

[drsmith1072]

The emphasis on shared sacrifice and raising taxes is just code for this administration is not serious about curbing gov't expenditures.

You do realize that you can do both, raise taxes and cut spending, at the same time don't you??