Tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax tax

[GoVegan]

Somebody has to pay for these little wars that Bush started but Obama refuses to finish!

[sgreger1]

I don't see any sources here. What's your source? Sean Hannity.

I have never quoted Sean Hannity on this forum.

This is from Business Insider.

http://www.businessinsider.com/2011-...ncrease-2010-7



If you deny it that show some proof that this isn't the case. Also, you can cross reference it on the IRS website if you want. Come back once you've met with the googles.


Here is turbo-tax:

http://turbotax.intuit.com/tax-tools...5519.html#2011


Again, this may change, it all depends on if congress decides to change it or not. We'll see, but I highly doubt it.

The question is, is allowing a tax cut to expire that same as a tax increase? I would say yes, since it mean you are paying more taxes this year than last year, so to me that amounts to a tax increase. Anything else is semantics.

[sgreger1]

Somebody has to pay for these little wars that Bush started but Obama refuses to finish!

This is what I don't get about this war. Most wars required a direct and noticeable contribution from EVERYONE in the country. Be it watching how much rubber you use or paying a direct war tax. This war exists with 0 impact on the average Joe, and that's why we will be celebrating the 10 year anniversary here pretty soon.


But, in all fairness, stimulus money to bail out the economy has cost us more than 9 years of war combined so we can't blame it all on the war.

[sgreger1]

Tax cuts for Dems
By Brent Budowsky - 07/26/10 07:30 PM ET

Democrats should battle to extend the Bush tax cuts for Americans in the bottom 99 percent of incomes, let the tax cuts expire for those in the top 1 percent, and enact bonus payments for military families who defend our nation and tax rebates for firefighters and police who protect our communities.

The bonus payments for military families and tax rebates for firefighters and police should land in mailboxes before Veterans Day, i.e., before Election Day.

This timing would provide the quickest stimulus to the economy, the maximum political benefit to Democrats and the greatest incentive for Republicans to agree. It would draw the line between Republicans who put the wealthiest first and Democrats who stand with military families, firefighters, police, working people, jobless Americans and the middle class.

The Congress that has sunk to 11 percent favorables in the latest Gallup survey should note that in the same poll, the military stands at the top, with 76 percent public confidence, while the police stand near the top, with 56 percent public confidence.

Across the nation there is a wholesale breakdown in public confidence in major American institutions. Confidence in newspapers is only 25 percent. Confidence in television news is 22 percent. Confidence in big business is 19 percent. The Congress that has no capacity for humiliation and no understanding of its self-interest keeps acting in the same manner that has driven its confidence levels to the fiasco of 11 percent.

Our military and police tower above Congress, television news, newspapers and big business because they have earned it.

For too long our heroic troops and their families have endured scandals of wounded troops, preventable deaths through lack of body armor and Humvees, Mafia-level interest rates on desperately needed payday loans, chronically shortchanged resources and, most recently, a Congress that put auto dealer campaign donors ahead of American heroes abused by consumer rip-offs.

For too long, the 1 percent of the nation that serves has made 99 percent of the sacrifice in war.

For too long, the wealthiest 1 percent of the nation has reaped gigantic tax cuts while the vast middle class suffers a declining standard of living and tens of millions of Americans endure a Grapes of Wrath-like battle to survive.

For too long, wealthy bailed-out bankers have kept their soaring ill-gotten bonuses with the support of Democrats and Republicans in the White House and Congress, while our troops risk their lives in Afghanistan for a nation whose president is surrounded by dope dealers and crooks.

For too long our firefighters have charged into burning buildings to save our brothers and sisters while their jobs are being cut.

For too long our police have guarded our neighbors against killers with guns, while too many are told we cannot afford their services and the tax cuts for the wealthiest continue in a political system that many American believe has lost its heart, its soul and its mind.

As Republicans plot to exploit the red-hot issue of the Bush tax cuts with a white-hot election that is fast approaching, here is where Democrats should make their stand with a courage and clarity that is long overdue.

It is time for a Democratic tax cut, the Democratic way, fighting for the vast middle class and the true heroes of the nation.

Budowsky was an aide to former Sen. Lloyd Bentsen and Bill Alexander, then chief deputy majority whip of the House. He holds an LL.M. degree in international financial law from the London School of Economics. He can be read on The Hill’s Pundits Blog and reached at brentbbi@webtv.net This e-mail address is being protected from spambots. You need JavaScript enabled to view it .


Source:
http://thehill.com/opinion/columnist...-cuts-for-dems

Yes and I agree with that. They should say **** the rich and hook me and the rest of the middle class up. The problem is that the Bush tax cuts that are about to expire are not just for the rich, they actually help me in a very direct way. For example, if they are allowed to expire, and not even taking into account any increase in income tax, the following will happen (according to turbotax and every other credible source I can find):


Estate Tax Revived

For individuals dying after 2010, the federal estate tax returns with a $1,000,000 exemption and a 50 percent maximum rate. Congress is likely to take some action on these rules during 2010.

Increase in Capital Gains and Dividend Tax Rates

The tax rate reductions for long-term capital gains and dividends is scheduled to expire this year.

In 2011, the maximum long-term capital gains tax rate goes back up to 20 percent from 15 percent. A lower 10 percent tax rate is used by individuals who are in the 15 percent tax bracket. Their long-term capital gains had been tax-free since 2008.
In 2011, dividend income (other than capital gain distributions from mutual funds) is taxed as ordinary income at your highest marginal tax rate.

Child Tax Credit

The credit of $1,000 per eligible child reverts to $500 after 2010. After 2010, none of the child tax credit will be refundable to taxpayers unless their earned income is more than $12,550. This is one of the many Bush tax cuts currently scheduled to expire after 2010.

Payroll Tax Credit

Starting in 2011, the partial credit for payroll taxes paid is no longer available.

Section 179 Expense Deduction

The maximum amount of equipment placed in service that businesses can expense drops to $25,000, down from $135,000 in 2010.

College Savings Plans

Beginning in 2011, 529 Plans can no longer be tapped tax-free to pay for a computer or Internet access.

Tax Credit for College Tuition

The Hope credit is again limited to the first two years of college and is capped at $1,800. None of the credit is refundable if it is more than your regular income tax liability.

Earned Income Tax Credit (EITC)

Temporary increases in the Earned Income Tax Credit for filers with three or more children and the higher income levels for the phaseout of the credit are repealed.

Mortgage Insurance Premiums

The special itemized deduction for mortgage insurance premiums paid on mortgages taken out after 2006 expires on Dec. 31, 2010.


(I know there are about two in there that were introduced by Obama, and for that I applaud him. But we are not far enough into the recovery to afford to start paying higher taxes yet.)




Now Joe, this affects the middle class. Raise on capital gain and dividends? The middle class does invest. Halving the child tax credit and not allowing me to write off my mortgage or student loans? Last I checked the middle class participates in all three of those activities.


This isn't really and anti-obama thing for me (though he did promise this wouldn't happen), this is about how congress needs to either renew the Bush tax cuts, or introduce a new bill that cancels the tax cuts for the rich but allow the middle class tax cuts to stay in place. That's all i'm saying.


(And, you little bastard, don't you ever assume shit I post here is off of websites belonging to or contributed to by Sean Hannity, Glenn Beck, or anyone of that nature.)

[Joe234]

Yes and I agree with that.


(And, you little bastard, don't you ever assume shit I post here is off of websites belonging to or contributed to by Sean Hannity, Glenn Beck, or anyone of that nature.)

Sorry sgreger1 I think I agree with you on some issues more than I do with some members.

[tom502]

They have to keep taxing us, and borrowing money from China, so they can give billions of it to Pakistan to kill our troops.

[truthwolf1]

This is what I don't get about this war. Most wars required a direct and noticeable contribution from EVERYONE in the country. Be it watching how much rubber you use or paying a direct war tax. This war exists with 0 impact on the average Joe, and that's why we will be celebrating the 10 year anniversary here pretty soon.


But, in all fairness, stimulus money to bail out the economy has cost us more than 9 years of war combined so we can't blame it all on the war.

It all just business. Nothing to do with freedom or terrorists. That was the American peoples bedtime story. Iraq was out of control so they ended up paying a lot of people off to put down their guns. They dragged it on as long as possible and now will continue to put more money into the pockets of the military industrial complex. Eisenhower was so damn right!

[sgreger1]

It all just business. Nothing to do with freedom or terrorists. That was the American peoples bedtime story. Iraq was out of control so they ended up paying a lot of people off to put down their guns. They dragged it on as long as possible and now will continue to put more money into the pockets of the military industrial complex. Eisenhower was so damn right!

Have you guys checked out that WikiLeaks document dump? Remember I posted like 2 months ago that that was coming? And what happened, it showed thousands and thousands of documents that say the Pakistani's are playing both sides of the field, taking money from us (in the billions), meanwhile funding alquaida and the taliban and even using their intelligence agency to help provide intel to the insurgents and plan attacks.

This is like iran contra all over again except we're the ones getting played by both sides. This whole war is out of control. I understand if we leave it will fall into chaos but **** it, we gotta bounce. I'd rather the whole middle east war and kill themselves than see a single American die over there while brown nosing into business that is not rightfully theirs.

[NonServiam]

Have I mentioned I hate our current state of gov't. The harder you work to counter-balance the taxes, the more they take. It's one step forward, two steps back. I agree that some things need to be taxed so that these things which we all use can be maintained, i.e. roads, schools, utilities, etc... But this shit is getting out of control. Not to mention the mismanagement of of our tax dollars.

http://www.cbsnews.com/stories/2010/...n6707431.shtml



If one year, the majority of Americans came together, took a stand, and refused to pay their taxes, the gov't couldn't do anything about it. They don't have the time or manpower to penalize or prosecute millions. But on the other hand, even if a large number of us did refuse to pay the IRS, they would still recoop their losses somehow. Probably by taxing the shit out of products they know we have no choice but to purchase. Or they would just start automatically garnishing the back taxes from your check. The old cliche still stands true today....Death and taxes, the only two things in life you can count on.

[tom502]

Instead of addressing the nature of what the leaks tell us, how it's all failed corruption, and meaningless death, they are all about these docs being revealed and who did it. It's cover-up, and shut up the public, while we give Al-Qaida another few billion of American tax dollars for stingers to kill our own troops with. America makes Hitler and Stalin look like Professor Chaos and General Disarray.

[sgreger1]

America makes Hitler and Stalin look like Professor Chaos and General Disarray.

No actually it doesn't. Germany killed 18 million innocents as part of a mass genocide and then killed 25 million Russian troops, (plus American casualties), and all in a bid to take over the world to establish a master race and a cleansed gene pool. I think that's one step above just bullying people and starting wars with historically low casualty rates (on both sides).

[tom502]

No one believes that stuff anymore. This is 2010, not 1960.

[truthwolf1]

Have you guys checked out that WikiLeaks document dump? Remember I posted like 2 months ago that that was coming? And what happened, it showed thousands and thousands of documents that say the Pakistani's are playing both sides of the field, taking money from us (in the billions), meanwhile funding alquaida and the taliban and even using their intelligence agency to help provide intel to the insurgents and plan attacks.

This is like iran contra all over again except we're the ones getting played by both sides. This whole war is out of control. I understand if we leave it will fall into chaos but **** it, we gotta bounce. I'd rather the whole middle east war and kill themselves than see a single American die over there while brown nosing into business that is not rightfully theirs.

The right way to go now to make up for the lies and bring some closure for the dead is to just leave. How many more farm boys need to lose lives or limbs for profits?

[tom502]

As many as it takes.

[Jimbob_Rebel]

No one believes that stuff anymore. This is 2010, not 1960.

Too right Tom, if greger wasn't such a tool for the neo-cons (modern trotskyites) he'd know the european conflict actually began over the Polish corridor...........a situation aggravated by foolish promises made to the Poles by the Brits and French. These promises stiffened their spines with beery courage where compromise would have served them better.

America was in the war because we wanted to be. FDR schemed and plotted with Churchill as to how he could enter the conflict against the wills of so much of the electorate.