Senate-Passed Deal Means Higher Tax on 77% of Households

[Trajan]

He meant income taxes. The payroll tax hiatus was always meant to be temporary. And a damn pain in the butt, accounting wise.

But now we have the rightwingloons claiming payroll taxes ARE income taxes after all.

The hypocrisy is delicious.

the bush cuts with the craven media parroting the Democrats, spent 7 years telling us where for the rich only, but now Obama and the rest discover that if they expire, it will devastate the middle class...... and hey, the bush cuts were supposed to be temporary too, all of them, right?

yes the hypocrisy is delicious

I think they should have let all the Bush tax cuts expire as they were "designed" to do.

that would have been ill advised, and I guess that means you took obama to task for signing that extension...?

 

[Ravi]

the bush cuts with the craven media parroting the Democrats, spent 7 years telling us where for the rich only, but now Obama and the rest discover that if they expire, it will devastate the middle class...... and hey, the bush cuts were supposed to be temporary too, all of them, right?

yes the hypocrisy is delicious

I think they should have let all the Bush tax cuts expire as they were "designed" to do.

that would have been ill advised, and I guess that means you took obama to task for signing that extension...?

If Obama listened to me, the economy would be much improved.

 

[saveliberty]

They have raised the ceiling on the medicare portion I believe. Either that or dividends and capital gains will now be subject to medicare tax.

I never argued that payroll taxes weren't income taxes. That was the nutters. How soon you forget Romney sneering at the 47% that (in his opinion) PAY NO TAXES.

If I remember correctly that 47% do not pay income tax after deductions and credits. Under that definition, he was correct. They are still subject to payroll taxes, which are based on income before credits and deductions.

 

[saveliberty]

I think they should have let all the Bush tax cuts expire as they were "designed" to do.

that would have been ill advised, and I guess that means you took obama to task for signing that extension...?

If Obama listened to me, the economy would be much improved.

If he listened to me, he'd be king of Haiti by now.

 

[Trajan]

I think they should have let all the Bush tax cuts expire as they were "designed" to do.

that would have been ill advised, and I guess that means you took obama to task for signing that extension...?

If Obama listened to me, the economy would be much improved.

and your suggestions are what exactly?

 

[Ravi]

They have raised the ceiling on the medicare portion I believe. Either that or dividends and capital gains will now be subject to medicare tax.

I never argued that payroll taxes weren't income taxes. That was the nutters. How soon you forget Romney sneering at the 47% that (in his opinion) PAY NO TAXES.

If I remember correctly that 47% do not pay income tax after deductions and credits. Under that definition, he was correct. They are still subject to payroll taxes, which are based on income before credits and deductions.

Make up your mind. Payroll taxes are either income taxes or they aren't. Talking out of both sides of your mouth is why Republicans lost the election.

 

[Ravi]

that would have been ill advised, and I guess that means you took obama to task for signing that extension...?

If Obama listened to me, the economy would be much improved.

and your suggestions are what exactly?

I just gave you one. The Bush tax cuts should have expired as they were designed to do.

 

[nodoginnafight]

I'll leave it to the hyper-partisan zealots to argue semantics, point fingers, and generally try to embarass "the other guys."

I'm a brass tacks kinda guy and I have no problem with entitlement and tax reform. If that means letting the "temporary" payroll tax cuts expire to close the gap between entitlement obligations and revenue - fine. But that can't be the whole "fix"

IMHO we need to raise the retirement age, tax benefits for the most wealthy (or means testing to determine benefits), and get illegal aliens paying into the system (by offering a path to citizenship that includes at least a bit of a penalty for coming here illegally in the first place).

 

[saveliberty]

They have raised the ceiling on the medicare portion I believe. Either that or dividends and capital gains will now be subject to medicare tax.

I never argued that payroll taxes weren't income taxes. That was the nutters. How soon you forget Romney sneering at the 47% that (in his opinion) PAY NO TAXES.

If I remember correctly that 47% do not pay income tax after deductions and credits. Under that definition, he was correct. They are still subject to payroll taxes, which are based on income before credits and deductions.

Make up your mind. Payroll taxes are either income taxes or they aren't. Talking out of both sides of your mouth is why Republicans lost the election.

Payroll taxes are based on your income with limits, after which no payroll tax is collected. Income tax is a tax on income with credits and deductions which effect the actual amount you pay or get back. Certainly not talking out both sides of my mouth, but accurately describing the system.

 

[saveliberty]

I'll leave it to the hyper-partisan zealots to argue semantics, point fingers, and generally try to embarass "the other guys."

I'm a brass tacks kinda guy and I have no problem with entitlement and tax reform. If that means letting the "temporary" payroll tax cuts expire to close the gap between entitlement obligations and revenue - fine. But that can't be the whole "fix"

IMHO we need to raise the retirement age, tax benefits for the most wealthy (or means testing to determine benefits), and get illegal aliens paying into the system (by offering a path to citizenship that includes at least a bit of a penalty for coming here illegally in the first place).

I agree with the increase in retirement age (probably happening soon)

We already tax social security benefits for those who make over a certain amount of income. That could be expanded.

Illegals should be fined and penalized for nonpayment and then deported.

 

[saveliberty]

If Obama listened to me, the economy would be much improved.

and your suggestions are what exactly?

I just gave you one. The Bush tax cuts should have expired as they were designed to do.

That would have happened prior to the bill just passed. Apparently Obama wants those to be of a more permanent basis for taxpayers up to $400,000 (450,000 for joint filers).

 

[chikenwing]

The payroll tax cut was an emergency measure. Who could possibly defend making an emergency measure permanent?

The Bush tax cuts were temporary too. And the liberal argument for the past 9.5 years was they only benefitted the wealthy. How can you possibly defend making them permanent when you guys just increased spending another $4T and everyone needs to pay their "fair share" to pay Obama's bills.

It's amazing that one of you sheep claims this and then the rest of the flock runs with it. Link to any single liberal making this sort of statement?

When you don't you'll show that you're just a mindless sheep.....yet again.

What you live under a rock or what??,the crying started befor the tax reductions were made law.

You are ether totally misinformed or willfully dishonest.

 

[Skull Pilot]

and your suggestions are what exactly?

I just gave you one. The Bush tax cuts should have expired as they were designed to do.

That would have happened prior to the bill just passed. Apparently Obama wants those to be of a more permanent basis for taxpayers up to $400,000 (450,000 for joint filers).

It seems that Bam Bam has finally realized that the majority of the Bush tax cuts benefited the middle class and is now loathe to raise them.

 

[Trajan]

If Obama listened to me, the economy would be much improved.

and your suggestions are what exactly?

I just gave you one. The Bush tax cuts should have expired as they were designed to do.

thats it?

and you never really answered my other question, you took obama to ask for signing the extension?

 

[Ravi]

and your suggestions are what exactly?

I just gave you one. The Bush tax cuts should have expired as they were designed to do.

thats it?

and you never really answered my other question, you took obama to ask for signing the extension?

In 2010? I sent him an email telling him not to wuss out. But did he listen?

 

[Soggy in NOLA]

I'm in the process of updating the payroll systems I support.... FICA EE is back to 6.2% (Should have never been lowered)... new deduction for Additional Medicare of .9%.... bracketed at 125,000, 200,000 & 250,000... bonus taxes went to 39.6% over 1,000,000...

Happy new year everyone!

 

[boedicca]

I'm in the process of updating the payroll systems I support.... FICA EE is back to 6.2% (Should have never been lowered)... new deduction for Additional Medicare of .9%.... bracketed at 125,000, 200,000 & 250,000... bonus taxes went to 39.6% over 1,000,000...

Happy new year everyone!

I think that 39.6% tax is going to kick in after $400K and $450K.

 

[saveliberty]

How is it the left wants to call a payroll tax the same as income tax, yet deny taxes are going up on the middle class?

 

[boedicca]

How is it the left wants to call a payroll tax the same as income tax, yet deny taxes are going up on the middle class?

They always point out the payroll tax when the subject of how much The Rich pay in income taxes is being discusse. It's only fair play to mention that Obama has increased the payroll tax for all workers.

 

[saveliberty]

I'm in the process of updating the payroll systems I support.... FICA EE is back to 6.2% (Should have never been lowered)... new deduction for Additional Medicare of .9%.... bracketed at 125,000, 200,000 & 250,000... bonus taxes went to 39.6% over 1,000,000...

Happy new year everyone!

Medicare is 1.45% for employer and employee. Where does the .9% come in Soggy?