Sooo, WHEN the tax cuts get extended...

[CosmicCowboy]

Will they be called the Obama Tax Cuts?

[Spurminator]

I'm sure they will be if the recession deepens and we don't get any closer to paying off the debt. I prefer to call it the "Congress is Run by Scoundrels Tax Cuts." The Democrats were spineless and the Republicans were once again the slimy sports agents to their base of the super wealthy.

But good thing millionaires get to keep that extra 3 or 4 percent. I'm sure they'll be putting all sorts of job offers out next year. Especially the ones that work on Wall Street.

[xrayzebra]

:lmao:rollin

[CosmicCowboy]

I support the Obama tax cuts. See? I'm not so close minded.

[Winehole23]

To be completely clear, CC: are you saying you support extending the cuts, making them permanent, or both?

[boutons_deux]

http://www.truthdig.com/images/cartoonuploads/cuttingmedicare_500.jpg

and pay those overdraft fees, $38B in 2009, vs total bank profits of $13B.

[DJ Mbenga]

cant wait to see what jobs i get as a result of guys like charles barkely keeping more of their money

[clambake]

cant wait to see what jobs i get as a result of guys like charles barkely keeping more of their money

:lol good one

[boutons_deux]

Magic Negro folded. Repugs get their extended tax breaks for everyone, and $Bs more in estate tax breaks for the superwealthy, just to get unemployment insurance extended 13 months.

MN doesn't have a chance in 2012.

[BlairForceDejuan]

Why do you want to steal from dead people boutons?

[boutons_deux]

"steal from dead people"

You Lie, S.O.P.

[Bartleby]

How can a dead person own something?

[CosmicCowboy]

Why would you want to steal from families just because the parents died? The parents worked all their lives, paid all their taxes, and saved money (after tax) to pass down to their kids. Why should the government be allowed to confiscate their savings? Fucking Communists...

[RandomGuy]

Why do you want to steal from dead people boutons?

Because it is better than having an aristocracy.

[RandomGuy]

Why would you want to steal from families just because the parents died? The parents worked all their lives, paid all their taxes, and saved money (after tax) to pass down to their kids. Why should the government be allowed to confiscate their savings? Fucking Communists...

Why should people be given tax-free money just because their parents died?

Rewarding people simply because of who their parents are was one of the things we rebelled against in 1776.

[CosmicCowboy]

Why should people be given tax-free money just because their parents died?

Rewarding people simply because of who their parents are was one of the things we rebelled against in 1776.

Whats the point of working hard and saving money all your life if the government is just going to steal it?

So when your parents die you think the government should get their house? Thats most peoples biggest asset.

[CosmicCowboy]

To be completely clear, CC: are you saying you support extending the cuts, making them permanent, or both?

If it's the best we can do I support making the cuts permanent and having the government learn to live within it's means.

I would PREFER we go to a simple two stage flat tax system with NO corporate or personal deductions/credits.

[boutons_deux]

"we rebelled against in 1776"

aka, primogeniture, a main objective in FFs design of US govt.

"steal it"

You Lie. Taxes aren't theft.

"flat tax system"

profoundly regressive, as I expected from you richies.

[CosmicCowboy]

Tax is not theft? It's not taking money/things by force or threat of force?

:lmao

Boutons, you crack me up.

So you honestly think that when your parents die, everything they owned that is left should go directly to the government?

[CosmicCowboy]

You Lie. Taxes aren't theft.

"flat tax system"

profoundly regressive, as I expected from you richies.

:lmao:lmao:lmao:lmao

Boutons, do you not understand that a true flat tax system is the ONLY WAY we can take the power away from the big corps, wall street, etc. that buys politicians for their billions of huge tax breaks? How is that regressive?

[Winehole23]

If it's the best we can do I support making the cuts permanent and having the government learn to live within it's means.Faulty compound. Making all tax cuts permanent is a deficit buster. To the tune of about $4T over ten years.


Bush tax cuts: $458 billion. The package would extend the Bush tax cuts for everyone for two years, including two years of relief for the middle class from the Alternative Minimum Tax. The estimated cost would be $458 billion, according to earlier numbers from the Treasury Department. The bulk of that cost -- $383 billion -- is for the extension of cuts for families making less than $250,000. The rest -- roughly $75 billion -- is attributable to the extension of cuts that apply to the highest income families.


The cost of extending all the tax cuts over 10 years would have been $3.7 trillion.
http://money.cnn.com/2010/12/07/news/economy/tax_cut_deal_obama/index.htm

How can you not see that extending the Bush cuts is essentially incompatible with having government live within its means unless the cost is somehow offset?

[Wild Cobra]

I support the Obama tax cuts. See? I'm not so close minded.
What gets me is they are calling tax credits a tax cut. Giving people money who pay no federal income tax.

[Wild Cobra]

I support the Obama tax cuts. See? I'm not so close minded.
Yep, you made out nice with those tax credits, didn't you....

In this case, since you pay so much in tax, at least you got to keep a little more. I just hate it when people 'bank' on these credits.

[Wild Cobra]

http://www.truthdig.com/images/cartoonuploads/cuttingmedicare_500.jpg

and pay those overdraft fees, $38B in 2009, vs total bank profits of $13B.
Evidence please. Maybe you should read the Obama Health Care bill, and see the medicare cuts in it!

[Wild Cobra]

cant wait to see what jobs i get as a result of guys like charles barkely keeping more of their money
Maybe you can sell SUV's, build swimming pools, etc.

[Wild Cobra]

Magic Negro folded. Repugs get their extended tax breaks for everyone, and $Bs more in estate tax breaks for the superwealthy, just to get unemployment insurance extended 13 months.

MN doesn't have a chance in 2012.
Why do you want to tax the dead?

[DarrinS]

Rewarding people simply because of who their parents are was one of the things we rebelled against in 1776.


Fail

[Wild Cobra]

Why should people be given tax-free money just because their parents died?

Rewarding people simply because of who their parents are was one of the things we rebelled against in 1776.
Why does the government have a right to that money?

Imaging a 70 year old man who owns a business, and his son is managing it. He leaves it to his son. It has a million assets, but maybe only a $150k supporting the owner and son. When he dies, and the government wants (I forget... 50%)... where does the son come up with $500k to keep the business? The business is sold to a competitor, dismantles, and 8 people are out of work. Is that worth it?

Talk to a small business owner some time about these ramifications. I'm a little out of date on the numbers, but this can happen.

[angrydude]

I really don't get the republican obsession with giving rich people low taxes. Economically, it really doesn't make much of a difference to anything at all.

But you almost have to extend unemployment benefits just because of all the people it will affect.

Now, unless the govt. dramatically lowers spending somewhere else to pay for extending unemployment benefits this is a pretty big fail.

Too bad the republicans already shot their one bullet. tax breaks. now they will have no more ideas on how to fix the economy.

[Wild Cobra]

So when your parents die you think the government should get their house? Thats most peoples biggest asset.
Yes, I forgot the house. Add a $300k house... How much does the son have to pay to keep his rightful inheritance?

[Drachen]

Why does the government have a right to that money?

Imaging a 70 year old man who owns a business, and his son is managing it. He leaves it to his son. It has a million assets, but maybe only a $150k supporting the owner and son. When he dies, and the government wants (I forget... 50%)... where does the son come up with $500k to keep the business? The business is sold to a competitor, dismantles, and 8 people are out of work. Is that worth it?

Talk to a small business owner some time about these ramifications. I'm a little out of date on the numbers, but this can happen.

if these numbers are accurate, the only change I would make here is to tax it as income (i.e. at the income tax rate). Plus, the father and son could plan for this to minimize the effect.

[Crookshanks]

Why does the government have a right to that money?

Imaging a 70 year old man who owns a business, and his son is managing it. He leaves it to his son. It has a million assets, but maybe only a $150k supporting the owner and son. When he dies, and the government wants (I forget... 50%)... where does the son come up with $500k to keep the business? The business is sold to a competitor, dismantles, and 8 people are out of work. Is that worth it?

Talk to a small business owner some time about these ramifications. I'm a little out of date on the numbers, but this can happen.

And remember - that money was already taxed once when it was earned. So why should the government get to double tax the money? Who decided it was a good thing to have an estate tax? Another "let's get the evil rich people" scheme?

[Wild Cobra]

I really don't get the republican obsession with giving rich people low taxes.
Because as liberal as they may be, they aren't socialists, like you libtards.


Economically, it really doesn't make much of a difference to anything at all.

Yes, it makes a big difference.



But you almost have to extend unemployment benefits just because of all the people it will affect.

Why? Why make my children pay more for the people today? What about my children's tax burden?


Now, unless the govt. dramatically lowers spending somewhere else to pay for extending unemployment benefits this is a pretty big fail.

Spending is the key. the government is way too big.

What ever happened to tax rates will never exceed 10%?



Too bad the republicans already shot their one bullet. tax breaks. now they will have no more ideas on how to fix the economy.

How about making people actually look for work, checking on them, and requiring certain things to get a government hand-out, making people want to be contributors to the tax system instead of users of it?

[CosmicCowboy]

I really don't get the republican obsession with giving rich people low taxes.

GIVING them what?

We are already TAKING 35% of their income just in Federal Taxes. Add in State taxes, property taxes, etc. and you are at 50%.

When is enough enough?

I keep hearing that not raising their taxes 5% is "costing" 70 billion over ten years.

Why not just say that not raising their taxes to 100% is "costing" 770 billion over ten years?...

Whats the difference?

[Wild Cobra]

if these numbers are accurate, the only change I would make here is to tax it as income (i.e. at the income tax rate). Plus, the father and son could plan for this to minimize the effect.
I'm sorry, but I disagree. The tax for my example of $1,300,000 house and business would be $469,800.00 in taxes. The marginal rate at $1,250,000 is 43%.


Lower Limit Upper Limit Initial Taxation Further Taxation
$0.00 $10,000.00 $0.00 18% of the amount
$10,000.00 $20,000.00 $1,800.00 20% of the excess over $10,000
$20,000.00 $40,000.00 $3,800.00 22% of the excess over $20,000
$40,000.00 $60,000.00 $8,200.00 24% of the excess over $40,000
$60,000.00 $80,000.00 $13,000.00 26% of the excess over $60,000
$80,000.00 $100,000.00 $18,200.00 28% of the excess over $80,000
$100,000.00 $150,000.00 $23,800.00 30% of the excess over $100,000
$150,000.00 $250,000.00 $38,800.00 32% of the excess over $150,000
$250,000.00 $500,000.00 $70,800.00 34% of the excess over $250,000
$500,000.00 $750,000.00 $155,800.00 37% of the excess over $500,000
$750,000.00 $1,000,000.00 $248,300.00 39% of the excess over $750,000
$1,000,000.00 $1,125,000.00 $345,800.00 41% of the excess over $1,000,000
$1,125,000.00 $1,500,000.00 $448,300.00 43% of the excess over $1,250,000
$1,500,000.00 $2,000,000.00 $555,800.00 45% of the excess over $1,500,000
$2,000,000.00 $2,500,000.00 $780,800.00 49% of the excess over $2,000,000
$2,500,000.00 $3,000,000.00 $1,025,800.00 53% of the excess over $2,500,000
$3,000,000.00 and over $1,290,800.00 55% of the excess over $3,000,000


Sec. 2001. Imposition and rate of tax (http://fourmilab.ch/uscode/26usc/www/t26-B-11-A-I-2001.html)

You really want to put a business and people out of work?

[Wild Cobra]

And remember - that money was already taxed once when it was earned. So why should the government get to double tax the money? Who decided it was a good thing to have an estate tax? Another "let's get the evil rich people" scheme?
Yep...

The libtards are duped into helping the elitists destroy our economy.

[spurster]

From the viewpoint of the rich, I guess the rich are not rich enough and the poor are not poor enough.

[Wild Cobra]

From the viewpoint of the rich, I guess the rich are not rich enough and the poor are not poor enough.
Why do you think the richh want the poor to get poorer rather than richer?

Why are you playing the class warfare card?

Don't you think the rich need more people with more money so they can get richer?

Wealth is never a zero sum game. We don't grow as much as we should, because we have people who are complacent to be poor, and don't strive for more.

Blame the poor for being poor. Not the rich.