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Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 4:16:16 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline 		You think money is tight now....


Taxmageddon Time Table


Profile   Post #: 1
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 4:24:18 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: FatDomDaddy
You think money is tight now....
Taxmageddon Time Table


Damn, that's not going to be pretty. If it happens, that is. I think Congress and Obama will kick this down the road... again. Won't stop the Obamacare taxes, but that's another story.

_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to FatDomDaddy)
Profile   Post #: 2
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 4:38:45 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline 		Some of it maybe.... but if President Obama gets reelected it most of it will stay.

(in reply to DesideriScuri)
Profile   Post #: 3
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 4:50:52 PM   
Yachtie


Posts: 3593
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: FatDomDaddy

Some of it maybe.... but if President Obama gets reelected it most of it will stay.



The left applauds it.

_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

(in reply to FatDomDaddy)
Profile   Post #: 4
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 4:52:02 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline 		More head in the sand stuff.........On days like this I hope Romney gets in, just so you can see how shallow his words are.

As I keep saying......You cant keep increasing spending, you cant reduce the deficit, not while reducing taxes.

Maybe one of you will enlighten me how Romney if going to magically pay for his military spending increases he spoke of ? Or keep taxes down while paying off debt ?

You guys think, and some have clearly stated, I am left wing....... Not so, I am telling you this since I voted for a party in the UK who promised much the same prior to our last election.

Unemplyment.....UP....... Bankruptcies......UP...... Taxes......UP......... House repossessions....UP

Spotting a trend yet guys ?

(in reply to FatDomDaddy)
Profile   Post #: 5
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 4:53:30 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline 		I'm sure they think it could all be made up it we just taxed Warren Buffett and the 1% at a 97.3 rate

(in reply to Yachtie)
Profile   Post #: 6
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:04:01 PM   
Yachtie


Posts: 3593
Joined: 1/18/2012
Status: offline 		Both the left progressives and right neo-cons have been lobotomized. Both sides believe their ideology is attainable simply because their ideology says so.
Neither is rational. Both are delusional.

A pox on both their houses.



_____________________________

“We all know it’s going to end badly, but in the meantime we can make some money.” - Jim Cramer, CNBC

“Those who ‘abjure’ violence can only do so because others are committing violence on their behalf.” - George Orwell

(in reply to FatDomDaddy)
Profile   Post #: 7
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:06:55 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline 		This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President.

(in reply to FatDomDaddy)
Profile   Post #: 8
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:15:50 PM   
Owner59


Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline
quote:

ORIGINAL: FatDomDaddy

Some of it maybe.... but if President Obama gets reelected it most of it will stay.


Did you know that one of President Obama`s 1st bills along with a democratic house, was to pass the biggest middle class tax cut in the history of the US?

Probably not considering they never mention that on faux news.....

_____________________________

"As for our common defense, we reject as false the choice between our safety and our ideals"

President Obama

(in reply to FatDomDaddy)
Profile   Post #: 9
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:20:33 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline
quote:

ORIGINAL: Politesub53

More head in the sand stuff.........On days like this I hope Romney gets in, just so you can see how shallow his words are.

As I keep saying......You cant keep increasing spending, you cant reduce the deficit, not while reducing taxes.

Maybe one of you will enlighten me how Romney if going to magically pay for his military spending increases he spoke of ? Or keep taxes down while paying off debt ?

You guys think, and some have clearly stated, I am left wing....... Not so, I am telling you this since I voted for a party in the UK who promised much the same prior to our last election.

Unemplyment.....UP....... Bankruptcies......UP...... Taxes......UP......... House repossessions....UP

Spotting a trend yet guys ?



Who say it will get better if Romney gets in? I only said most of it stays if The President gets reelected.

(in reply to Politesub53)
Profile   Post #: 10
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:22:05 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline
quote:

ORIGINAL: DomKen

This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President.



You really believe that huh???

(in reply to DomKen)
Profile   Post #: 11
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:40:23 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline
quote:

ORIGINAL: FatDomDaddy

Who say it will get better if Romney gets in? I only said most of it stays if The President gets reelected.




Oh I see, you only posted an anti Obama piece for the sake of it. In which case, please explain how Ken is wrong ?

(in reply to FatDomDaddy)
Profile   Post #: 12
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 5:57:40 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline
quote:

ORIGINAL: FatDomDaddy


quote:

ORIGINAL: DomKen

This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President.



You really believe that huh???

Fact: the rates will return to thoe from the late 90's.
Fact: the economy grew at historic rates during the 90's.
Fact: the deficit is primarily a result of these tax cuts.
Fact: cons didn't complain about the deficit and debt when these tax cuts were passed and for the remainder of W's term.
Fact: the President is a member of the Democratic Party

What is there to need to believe in?

(in reply to FatDomDaddy)
Profile   Post #: 13
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 6:05:42 PM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: DomKen
This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President.


http://money.cnn.com/2011/10/20/news/economy/occupy_wall_street_income/index.htm

    quote:

    Well, there were just under 1.4 million households that qualified for entry. They earned nearly 17% of the nation's income and paid roughly 37% of its income tax.
    Collectively, their adjusted gross income was $1.3 trillion. And while $343,927 was the minimum AGI to be included, on average, Top 1-percenters made $960,000.


If you confiscated all their AGI, you'd still have run deficits in 3 of the last 4 years (assuming the projection for 2012 is accurate at $1.1T). Best of luck getting that to pass.

_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to DomKen)
Profile   Post #: 14
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 6:11:29 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline
quote:

ORIGINAL: Owner59

quote:

ORIGINAL: FatDomDaddy

Some of it maybe.... but y.


Did you know that one of President Obama`s 1st bills along with a democratic house, was to pass the biggest middle class tax cut in the history of the US?

Probably not considering they never mention that on faux news.....


You sure do like living in the past don't you...

But why does "if President Obama gets reelected it most of it will stay" bother you??? I mean... don't you want that? You supported these bills.

(in reply to Owner59)
Profile   Post #: 15
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 8:15:19 PM   
DomKen


Posts: 19457
Joined: 7/4/2004
From: Chicago, IL
Status: offline
quote:

ORIGINAL: DesideriScuri

quote:

ORIGINAL: DomKen
This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President.


http://money.cnn.com/2011/10/20/news/economy/occupy_wall_street_income/index.htm

    quote:

    Well, there were just under 1.4 million households that qualified for entry. They earned nearly 17% of the nation's income and paid roughly 37% of its income tax.
    Collectively, their adjusted gross income was $1.3 trillion. And while $343,927 was the minimum AGI to be included, on average, Top 1-percenters made $960,000.


If you confiscated all their AGI, you'd still have run deficits in 3 of the last 4 years (assuming the projection for 2012 is accurate at $1.1T). Best of luck getting that to pass.

Maybe you misunderstood the words "a lot" and notice also that nowhere did I mention anything about the wealthy. Or perhaps your reply was simply a non response to try and erect a strawman that you can argue against rather than actually responding to my points.

(in reply to DesideriScuri)
Profile   Post #: 16
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 9:14:40 PM   
erieangel


Posts: 2237
Joined: 6/19/2011
Status: offline 		Not all democrats nor progressives supported the tax cuts. In 2001, when the first cuts were made, I loudly said they were stupid. I called the White House, my representative and my senator with complaints about cutting taxes while, at the same time, putting the cost of WAR on the national credit card.

I complained even more loudly in 2003 when even more tax cuts were introduced.

I complained the loudest when Obama fell for the republican meme they couldn't raise taxes during a recession.

I even complained when Obama gave me a FICA tax reduction.

The truth is Americans pay far too little in taxes. Case in point: If Romney had taken every deduction he was legally qualified to take in 2011, he'd have paid just over a 9% tax rate.

The cuts need to be allowed to expire and now is not too soon.

And then somebody must introduce legislation that says if we go to war (even an undeclared war) taxes will raise automatically to absorb the cost of that war. Maybe, just maybe it will start people really thinking about the financial cost of doing business in the world as we have been.

(in reply to FatDomDaddy)
Profile   Post #: 17
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/22/2012 10:20:41 PM   
FatDomDaddy


Posts: 3183
Joined: 1/31/2004
Status: offline
quote:

ORIGINAL: erieangel

Not all democrats nor progressives supported the tax cuts. In 2001, when the first cuts were made, I loudly said they were stupid.


I am taking a guess you were not running for a federal office.

quote:

ORIGINAL: erieangel

I complained even more loudly in 2003 when even more tax cuts were introduced.


I am taking a guess you were not running for a federal office then either.

quote:

ORIGINAL: erieangel

I complained the loudest when Obama fell for the republican meme they couldn't raise taxes during a recession.

I even complained when Obama gave me a FICA tax reduction.


And I am guessing again you were not running for a federal office the as well.


Democrats running for Congressional seats that are hotly contested seem to like cutting taxes...go figure

(in reply to erieangel)
Profile   Post #: 18
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/23/2012 5:23:59 AM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: DomKen
quote:

ORIGINAL: FatDomDaddy
quote:

ORIGINAL: DomKen
This is complete nonsense. These tax cuts were meant to end years ago and simply return to rates that were in effect during the 90's when the economy boomed. When they do all end the deficit will decline quite a lot and that should make the newly minted deficit hawk cons happy, unless of course that was simply having to do with a Democratic President.

You really believe that huh???

Fact: the rates will return to thoe from the late 90's.
Fact: the economy grew at historic rates during the 90's.
Fact: the deficit is primarily a result of these tax cuts.
Fact: cons didn't complain about the deficit and debt when these tax cuts were passed and for the remainder of W's term.
Fact: the President is a member of the Democratic Party
What is there to need to believe in?


Are you seriously putting out there that the tax rates of the late 90's was what caused the historic growth of the economy back then?

Did the economy grow in the mid-00's?
Did we have low unemployment in the mid-00's?

The tax cuts were not what caused Bush to run deficits. His jacked up spending is what caused him to have deficits. Look at the fucking tax revenues from those years. Clinton's best revenue year was 2000 when he brought in close to $2.025T. Four of Bush's years were worse than that, and for were much better than that. And, if memory serves, one of the top 3 Bush revenue years would make up the difference for all 4 years of his that revenues were less than Clinton's best.

I have to put this out there though.... I am using 2001 - 2008 #'s. If you want, we can talk about 2002-2009 #'s for Bush, but it will only change my argument a little.

Do you know that Obama's revenues have never been lower than Clinton's? That Clinton's best year (2000 and, yes, it was $2.025T) is the 8th best all-time? That the last 7 years have all been better? The estimates on the OMB's spreadsheet I am looking at shows revenues rising to the point that 2013 will be the new record high. If the 2012 estimate is accurate, according to this spreadsheet, 2012 will be a mere $99B from the all time high.

I don't care what you think of the wars because it is meaningless. Obama's lowest spending year was 2010, at $3.456T. Clinton's highest spending year (2001) was $1.862T. That's an increase of 86%!

It's not the Bush tax cuts that are causing the deficits and increasing debt. It's the runaway spending.

The Top 10 tax revenue years:
2007 - $2.567T (Bush)
2008 - $2.523T (Bush)
2006 - $2.406T (Bush)
2011 - $2.303T (Obama)
2010 - $2.162T (Obama)
2005 - $2.153T (Bush)
2009 - $2.104T (Bush/Obama?)
2000 - $2.025T (Clinton)
2001 - $1.991T (Clinton/Bush?)
2004 - $1.880T (Bush)

You can blame some of Obama's spending on the was Bush started, but that will be dropping out with the war in Iraq ended and the continued drawdown of fighting in Afghanistan. Yet, by the estimates, Obama's spending continues to go up, and up.

Where, oh where, is the deficit/debt problem proven to be on the tax cuts?!? Where?

_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to DomKen)
Profile   Post #: 19
RE: Taxmageddon 100 Days Away, Look Out Middle Class!!! - 9/23/2012 5:39:55 AM   
DesideriScuri


Posts: 12225
Joined: 1/18/2012
Status: offline
quote:

ORIGINAL: DomKen
Maybe you misunderstood the words "a lot" and notice also that nowhere did I mention anything about the wealthy. Or perhaps your reply was simply a non response to try and erect a strawman that you can argue against rather than actually responding to my points.


Apologize. Must have come from another thread where someone said that if we were to tax the 1% 96.7% of their income...

What was the number the left kept trumpeting about the cost of the Bush tax cuts? Wasn't it a massive $2.5T? Why yes, I do believe that was it. But, that was $2.5T over 10 years. That is an average of $250B/year. Now, that's "a lot"!

Yet, $250B/year would have only meant no deficits in 3 years post-Clinton (2002, 2006, 2007). The best it would have been over the last 3 years is almost a 20% reduction in the deficit (2010; deficit $1.293T... $250B is 19.3%).

And, this ignores any impact this would have had on the economy.

_____________________________

What I support:

  • A Conservative interpretation of the US Constitution
  • Personal Responsibility
  • Help for the truly needy
  • Limited Government
  • Consumption Tax (non-profit charities and food exempt)

(in reply to DomKen)
Profile   Post #: 20
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