When Obama said....

Discussion in 'Current Events' started by DamnYankee, Apr 16, 2009.

  1. DamnYankee
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    DamnYankee No Neg Policy

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  2. Ravi
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    Ravi Diamond Member

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    Most wealthy people pay a smaller percentage because of loopholes and deductions. Heck, everyone pays a smaller percentage than the tax tables reflect.

    Obama's tax changes wouldn't effect money earned in 2008, btw.
     
  3. DamnYankee
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    DamnYankee No Neg Policy

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    Hmmm....

    The thing about taxes is, the rules change. They change early and often (and they even change late sometimes, thanks to Congress).
    Then, too, taxpayers' situations change. People buy houses or have children, or less happily, they face tough times -- maybe losing a job or getting sick.
    All of these changes make it all the more important to take time to fill out your tax return carefully.
    Changes in tax law and life could prompt you to amend return - MarketWatch


    Oh, and thanks for pointing out the "loopholes".... LOL
     
  4. Iriemon
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    Iriemon VIP Member

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    Dude's been in office less than three months and trying to avert another great depression from the financial crisis he inhereted. He hasn't had time to change the tax code yet. He will.

    In the meantime, you can thank Bush and the Republicans for the fact that multi-millionaires pay such low tax rates.

    And if that annoys you, the really really rich folks, who can afford to live off investments, only pay about 15% tax rate.

    Outrageous, eh?

    Hopefully Obama will fix that too.
     
  5. Jon
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    Jon The CPA

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    :cuckoo:

    Not even close.
     
  6. bigdaddygtr
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    bigdaddygtr Senior Member

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    He ALREADY said that the current tax system stays into place until 2011 when the top 5% get raised. Why is this country filled with such uninformed ignorance
     
  7. Sinatra
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    Sinatra Senior Member

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    LOL - I have to laugh at those oft-repeated comparisons as well!

    The total lack of historical perspective by some in here is priceless! :lol:
     
  8. Iriemon
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    Iriemon VIP Member

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    Lots of very smart, very knowledgeable folks including those in both the Bush and Obama administations, have warned very clearly otherwise. I'll defer to their opinion over yours. The largest financial institutions in the world would have gone under, dragging trillions in captial with them, except for liquidity injected by the Govt. Nor would I subscribe to the notion that the large negative GDP numbers being reported by the BEA are part of some grand conspiracy.
     
    Last edited: Apr 16, 2009

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