THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike

THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (Full Version)

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FatDomDaddy -> THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/1/2013 10:47:13 PM)
Happy Now! This one is on the President and The Democrats... Screw the middle class. Even with deal, 77.1% of U.S. households would take a hit

Owner59 -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/1/2013 10:53:00 PM)
What do you call someone who doesn`t want to pay his bills? Hint.....it`s a pejorative.

tazzygirl -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/1/2013 10:55:30 PM)
Much of that burden is concentrated at the very top of the income scale. The top 0.1 percent of taxpayers, those with incomes over about $2.7 million, would pay an average of $443,910 more, reducing their after-tax incomes by 8.4 percent. They would pay 26 percent of the additional taxes imposed by the legislation. Among households with incomes between $500,000 and $1 million, taxes would go up by an average of $14,812. ....... The biggest hit to the economy is expected to come from the end of a two-year Social Security tax cut. The so-called payroll tax is scheduled to bounce back up to 6.2 percent from 4.2 percent in 2011 and 2012, amounting to a $1,000 tax increase for someone earning $50,000 a year Thats not a tax increase.

MrRodgers -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/1/2013 11:14:58 PM)
So, only the payroll tax 'holiday' expired for 2% increase. Otherwise income taxes went up on only those above $400K. The house was trying to amend it last I heard. Why am I not surprised. This is the tax BTW that funds soc. sec. which has been over-funded since 83 with close to $3 trillion owed to the fund by congress. I think we should take it out in flesh. Kinkroids, just when is it going to sink in...your govt. is fiscally, financially and ethically corrupt. Yes. that extra say $50-$100/mo. or so for the average worker will cost but if we can keep the repubs away, we'll get it back at retirement. But hey, as long we have that hallowed free market where one can aspire to be too big to fail...we'll be alright. These posts are a waste of oil.

Owner59 -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/1/2013 11:29:30 PM)
Fat Dom Daddy... If your taxes went up......I couldn`t be happier....... But they didn`t.....did they?[8\|]

DomKen -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 2:46:58 AM)
quote: ORIGINAL: FatDomDaddy Happy Now! This one is on the President and The Democrats... Screw the middle class. Even with deal, 77.1% of U.S. households would take a hit Note that the Republicans absolutely refused to negotiate on extending the payroll tax cut. That is the only thing that will affect most Americans the GOP would have sunk the entire economy rather than continuing it for even another year. So stop trying to spin this. The facts are against you and everyone but FNC and their loyal rimmers knows it.

Level -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 3:33:28 AM)
Yeah, they'll fight to the death to keep Rush or Trump from paying any more, but fuck if they care aboyt the average Joe paying more.

farglebargle -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 4:30:57 AM)
How much is the Military cut? Did they eliminate the entire, useless Air Force yet? How about disbanding the useless armies. The French-Candians ARE NOT invading through Vermont.

DesideriScuri -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 6:35:30 AM)
quote: ORIGINAL: FatDomDaddy Happy Now! This one is on the President and The Democrats... Screw the middle class. Even with deal, 77.1% of U.S. households would take a hit Good Lord. The Left has been pissing, moaning and whining about tax rates being at their lowest, but they don't want to tax anyone but the uber-rich. The automatic spending cuts were only $109B?!? That's it?!?!?! That's what...10% of our budget deficit from 2012?!?!? That was the horrible cuts that had to be averted?!? FFS, we're all screwed. There isn't enough money in the US to keep up with our spending and to start paying down our debts.

vincentML -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 7:31:21 AM)
quote: ORIGINAL: DesideriScuri quote: ORIGINAL: FatDomDaddy Happy Now! This one is on the President and The Democrats... Screw the middle class. Even with deal, 77.1% of U.S. households would take a hit Good Lord. The Left has been pissing, moaning and whining about tax rates being at their lowest, but they don't want to tax anyone but the uber-rich. The automatic spending cuts were only $109B?!? That's it?!?!?! That's what...10% of our budget deficit from 2012?!?!? That was the horrible cuts that had to be averted?!? FFS, we're all screwed. There isn't enough money in the US to keep up with our spending and to start paying down our debts. Gotta agree with you, DS. A crappy deal per Jeffrey Sachs: Here are the simple facts. Government spending today is around 23 percent of Gross Domestic Product, including 13 percent for mandatory transfer programs (Social Security, Medicare, food stamps, veterans benefits, military retirement, and others), 2 percent for interest, 4.5 percent for the military, and 3.5 for civilian programs. Taxes are around 16 percent of GDP, but would probably produce around 17-18 percent of GDP in a more robust economy. Allowing the Bush tax cuts to expire today would have raised tax collections by around 2.5 percent of GDP, to around 21 percent of GDP by the end of the decade, thereby allowing the government to pay its bills assuming that the useless wars are ended and the bloated Pentagon budget is brought under control. The Obama-Senate plan will instead keep taxes at around 18 percent of GDP. The CBO will soon "score" the new tax plan; Democrats will be shocked at what the White House and Senate have given away.

tazzygirl -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 9:48:16 AM)
Did either of you doomsday prophets happen to watch the news and take note that this is only for 2 months?

DesideriScuri -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 10:35:33 AM)
quote: ORIGINAL: tazzygirl Did either of you doomsday prophets happen to watch the news and take note that this is only for 2 months? I did read something about the sequester cuts were delayed by 2 months, but it wasn't clear that the tax rate effects were only 2 months. So, what happens in two months? More bullshit maneuvers and still no actual changes that are going to significantly impact our issues? quote: In the early hours of the new year, the Senate voted to end a long stalemate and raise taxes on upper-income households, extend long-term unemployment benefits and postpone decisions over government spending cuts, officials said. The House of Representatives was working on a response Tuesday evening. What's going to be the motivation for the Democrats to negotiate on real spending cuts now that their most important demand?

FatDomDaddy -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 10:37:03 AM)
Tazzy... this Government is spending us into oblivion, it is plain and simple

tazzygirl -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 10:38:15 AM)
The tax rates are here to stay. The cuts are yet to come. CNN had a good article about how , if the mandatory cuts had stayed in effect, what the results for the economy would have been.

Yachtie -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 10:41:54 AM)
quote: ORIGINAL: tazzygirl The cuts are yet to come. . Correct, but not because government willingly does so. They'll happen simply because there's no money or money will be worthless.

tazzygirl -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 11:04:54 AM)
Government never willingly does anything that doesnt line their own pockets. Midterms are coming up. People want results.

papassion -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 11:58:04 AM)
Anybody stupid enough to fall for Obama's class war should look at the math. Even If we would have stuck to Obama's plan to raise taxes on everybody making 250,000 and above, that would only generate 0.7 trillion over the next decade, or .4 of the GNP. The CBO estimates for the SAME period of time, the deficiet will be 13 more trillion or 6% of the GNP. Even a slow 4th grader can tell you that .7 trillion CANNOT pay a 13 trillion debt. If you think we are going to have a massive, robust economy the next ten years that will generate enough money to pay this debt, good luck. Neither of the political parties have the stomach to make the CUTS necessary to avoid us turning into Greece. Well, since we haven't learned from history, we are doomed to repeat it. Read about Germany, Zimbawe, and countries that thought they could print themselves out of debt. MSNBC had that Ezra guy extolling how unemployment helps the economy as the people spend the money and keep it going. If thats a good idea, lets really supercharge the economy and have the government send us all a check for a million bucks! Look at all the goods that will buy! Stupid Liberals probably think thats a good idea.

erieangel -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 12:22:37 PM)
The debt can be eliminated tomorrow. The treasury can simply order the US Mint to coin a couple platinum coins, have them worth $1 trillion each and deposit them into the federal reserve. That money can then be used to pay off the debt. There is some disagreement among economists about what effect this would have on the economy, so I'll not post them here. Bottom line, good or bad possible outcomes, why isn't this ever an option spoken about in Washington?

tazzygirl -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 12:42:34 PM)
quote: ORIGINAL: FatDomDaddy Tazzy... this Government is spending us into oblivion, it is plain and simple The government has been doing that since there was a government.

DomKen -> RE: THE NEWEST DEAL 80% of households $50k & $200k will see a tax hike (1/2/2013 2:06:00 PM)
quote: ORIGINAL: erieangel The debt can be eliminated tomorrow. The treasury can simply order the US Mint to coin a couple platinum coins, have them worth $1 trillion each and deposit them into the federal reserve. That money can then be used to pay off the debt. There is some disagreement among economists about what effect this would have on the economy, so I'll not post them here. Bottom line, good or bad possible outcomes, why isn't this ever an option spoken about in Washington? Because there is no disagreement amongst actual economists on the outcome of such an action. See Weimar Republic and hyperinflation.

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