Six Months to Go Until The Largest Tax Hikes in History

reply to post by mooseinhisglory


Your plan should start by getting more informed. This is not a tax hike, but rather the expiration of tax cuts for the rich. Stop reflexively blaming the wrong people and realize you are being played for a dolt. Those same people playing to your ignorance are the same ones screwing you.

This sort of ignorance is a huge part of why we are so messed up today. Uninformed people (the "low information voter") are the easiest to manipulate and the bread and butter of Fox News.

reply to post by pajoly


Read the article and the thread my fellow ATSer. The poorest people in the nation will be hit the hardest. The rich will be hit the least. I already mentioned it was the expiration of 2003 tax cuts. I'm glad you're rich and won't be affected. I make $40k a year and I will be.

Originally posted by AllexxisF1

Bill Clinton raised taxes and balanced the budget which gave us a surplus.

[edit on 2-7-2010 by AllexxisF1]

Allex .......
I am not certain how this balanced budget SURPLUS MYTH came into being. Clinton through 'Proclamation' stated so, but apparently failed to consult with Treasury. 1791 > Present, perpetual debt and NEVER a surplus.

Honestly. If someone gave YOU a charge card with no limit and stipulated that YOU never had to pay it back, would you not go 'Bug Crap Crazy' ? Partisan politics is not only pointless but harmful.

I didnt know off the top of my head what bracket I am in so in case others dont know as well:

If your taxable income is between... your tax bracket is:
0 and 8,375 10%
8,375 and 34,000 15%
34,000 and 82,400 25%
82,400 and 171,850 28%
171,850 and 373,650 33%
373,650 and above 35%

As per: www.moneychimp.com...

reply to post by ntech


"Like it or not it's rich people that create jobs and keep the tax system running. Killing the geese that lays the golden eggs is cutting off your nose to spite your face."

Behold the above as living, breathing proof of the stupidity of the American people and the total success of the corporate press brainwashing the sheep so much that they believe the people screwing them are in fact their saviors.

Here's a FACT for you, "rich" people do not create jobs. They never have created the majortiy of jobs and never will unless you consider personal assistants and chauffeurs. The small business owners and entrepreneurs are the job engines, and always have been.

So you go ahead and kiss the ass of the rich, fat slob at the bank who spits as you lick his heels. It is the same guy that is choking off the credit to the small business owners, you know, the REAL job creators.

reply to post by pajoly


Not extending a tax cut is the same as a tax increase.

I love the funny math employed by socialists. It is the same logic that says that a 6% increase in a program that has historically enjoyed a 10% annual increase is actually a 4% cut in the program rather than a 6% increase.

Will folks be paying more taxes in 2011? Yes. Does that mean that taxes are going up? Yes. My 8 year old can figure that out

Originally posted by pajoly

This is not a tax hike, but rather the expiration of tax cuts for the rich.

Sounds pretty "new-speaky" to me.

What's the difference? Hike or expiration of cut? The amount paid still goes up.

It's not an increase in taxation. It's a temporary refund adjustment. Or better yet a personal debt surplus.

Originally posted by thisguyrighthere
I didnt know off the top of my head what bracket I am in so in case others dont know as well:

If your taxable income is between... your tax bracket is:
0 and 8,375 10%
8,375 and 34,000 15%
34,000 and 82,400 25%
82,400 and 171,850 28%
171,850 and 373,650 33%
373,650 and above 35%

As per: www.moneychimp.com...

Thank you for that! That might bring it home for some people.

Originally posted by thisguyrighthere
It's not an increase in taxation. It's a temporary refund adjustment. Or better yet a personal debt surplus.

ROFL

Or better yet...taxation is such a dirty word...we should rename "taxation" into "shared expansion of collective wealth".

Originally posted by pajoly
What a bunch of BS. These are not tax hikes. This is the expiration of the Bush Tax Cuts that have exploded the deficit and on top of unfunded wars and Medicare Part D are the FACTUAL cause of the disaster that is now the American economy. The ignorant will rant Obama is to blame, but those that do reveal both their stupidity, ignorance and their inability to sort fact from fiction.

Um, yeah... government SPENDING causes deficits, not tax cuts. Spending on such things as illegal wars on phantom bogeymen, but that's been covered pretty well on this site.

A tax cut that expires is a net increase in taxes, so yeah, you could call it a tax hike (increase).

Go polish your Obama bumper sticker. Here are some cookies.

It could be argued that this is a tax hike.

However, it can also be argued that as Bush failed to ensure that his tax cuts were permanent, it's just the short term tax breaks coming to an end, not a tax hike. I'm not railing on Bush here, just stating the obvious.

Considering that the upper portion of income tax used to be as high as 90%, it's hardly "the largest tax hike in US history".

Sensationalist journalism at its best, misleading claptrap at its worst.

[edit on 2-7-2010 by babybunnies]

What's the difference? Hike or expiration of cut? The amount paid still goes up.

The difference is, that if it's just an expiration of a cut, it just means that the temporary special has come to an end, and you go back to what you were paying before.

Not extending a tax cut is the same as a tax increase.

No, it's not. A tax increase would be "the tax cut extension has ended and we're putting it up HIGHER than what you were paying before".

The fact that it's just going back to what you were paying before simply means that the short term special has ended.

Kind of like when a store has a sale - when the sale ends, the price doesn't go up, it just goes back to where it was before the sale. This is NOT considered a price increase.

[edit on 2-7-2010 by babybunnies]

reply to post by dolphinfan


Words words words... they get twisted around all the time.

I agree, bottom line is that you are going to be paying more. But didn't we all expect this when we "super-sized" the money supply last year for bail-outs?

reply to post by CanadianDream420


I've traveled quite a bit in Canada (and EVERY state in the US except Alaska) and as recently as a ten day trip to Atlantic Canada that ended last week. As God is my witness I would move to Canada tomorrow, but my wife and I are tied down in the US due to our kids and ex-spouses. Canadians are much friendlier and live much healthier, balanced lives. Canadians pay significant taxes, but they can pursure their dreams without fear and live without the stress that some random illness or accident will destroy them or their family.

Canadians also still respect each other and don't treat the opposition as mortal enemies to be destroyed. Here in America, modern "conservatives" (meaning radical, "Christian" evangelical theocrats like Hannity, Limbaugh, etc.) have taught half of us to hate and hate well.

Here in the US we ADORE violence and glorify it daily and nightly. It leads in our news, it leads in our entertainment and we love our military more for every dead "terrorist" (read poor Muslim in some distant land who just wants us out of his country) it kills. Watch Canada's CBC News and you'll see actual news.

In Canada, even the most rural community recycles and even composts. Here in the US we laugh at that, call people who do tree huggers. How bizarre is that that we are proud of our gluttony and the amount of trash we create. Yay, we are number 1!

Those ten days I experienced in Canada I did not run across one rude person, quite the contrary, people were exceeding friendly.

In Canada, the general public has access to wilderness everywhere, even large tracts of private property can't be fenced in some areas. There are "million dollar views" on which site humble, but tidy homes. In the US there would be multi-million dollar second and third homes and big fences keeping everyone away.

Even the police I have met over the years in Canada are more like peace officers of old, whereas in the US the cops have all morphed into true paramilitary forces (gangs even) that act criminally almost as a matter of course and caught daily by a camera being brutal or shady when they think no one is looking.

I am not saying Canada is a paradise, it is not, but it is many times closer to it than the US anymore. Sadly, in some quarters the hate-mongering evangelical cults are gaining in-roads into Canada as well, so it may only be a matter of time before Canadians also learn to hate with glee.

Originally posted by pajoly
Sadly, in some quarters the hate-mongering evangelical cults are gaining in-roads into Canada as well, so it may only be a matter of time before Canadians also learn to hate with glee.

Funny how your entire rant was filled with hate at the same time.

I don't think they will like you much in Canada if your description is correct.

Originally posted by dbloch7986
reply to post by CanadianDream420

 

I wouldn't mind paying higher taxes IF the money was paying for my basic needs. Fuel, housing, food, clothing, education, utilities and healthcare are NOT free and they are EXPENSIVE here in the US.

Fuel is definitely NOT expensive in the USA. Have you tried filling up in Canada or in Europe?

Our gas in Canada just went up to 1.08 a LITRE (4.86 a gallon) and in Britain I have family paying 1.20 (POUNDS) a litre, about $8.65 a litre.

Your fuel cost is peanuts in comparison.

Why should the government pay for your housing, food, clothing, utlities, and fuel?

You already get education for free (except post secondary, but this is a luxury, so again, why should the government pay for this?).

This is why the Government is broke - people like you compalining that the Government should be paying for everything.

Taxes in the USA are already some of the lowest in the Western World, and your Government is going broke because of it.

It's time that human society realized that for the last 10,000 years, if you didn't work, you died. This was the nature of things and has only changed in the last 60 years or so.

Originally posted by babybunnies

This is NOT considered a price increase.

Yet the product increases in price. Go figure.

You're paying more than you were. INCREASE.

Even if I were to accept your "sale" analogy purchasing a good post "sale" you are paying more than you would had during sale. The price has increased.

You want to take it back pre-cuts to call it an increase. Hell, why not take it back pre-revolution when the overall tax burden was a fraction of what it is today pre/during/post Bushs little cut and say there has been an astronomical increase of hundreds of percentage points.

Or are we to conclude that the assumed growth of the nation and planned increased dependency on an entity larger than ones self to wipe your ass for you that taxes will have increased anyway so there really hasnt been any increase at all but simple an adjustment for "dependence inflation"?

There is more bs in this thread than there is in my back lawn.

First off it was reckless to pass these tax cuts (which for the millionith time, benifits only the super rich). Every person here maybe got their $300 tax refund where as Mr. Millionaire got back $250,000.


Secondly how absolutely retarded is the notion that OMFG these taxes (GOING BACK TO WHERE THEY WERE 9 YEARS AGO) would destroy the middle class!!!1111ONEONE.

Really?

Then I wonder why it did not destroy them before nine years ago and for the proceeding years before that.

Moreover given the fact that Obama has already cut taxes that directly impact the middle class and small businesses (You remember his tax cut right?...right?) I'm sure Congress will make certain that any taxes that would impact the middle class if any would not go into effect.

However let's cut the BS shall we. You Republicans got your wet dream nine years ago with the LARGEST tax cut in history. Well how did that fare out?

Yea apparently you all have amnesia and completely gloss over the fact that those moronic tax cuts (per your parties ideology) coupled with OUT OF CONTROL SPENDING, two useless wars, the ridiculous Medicare part D provision brought this nation to its knees.

When you don't collect taxes and you decide to start a couple of wars where do you idiots think the money came from to cover that deficit? ....*COUGH* China*Cough*.

Which of course means our dollar in our back pocket becomes more de-valued.

But go ahead, stick your ignorant faces in the sand and make comments like drinking the kool aid when you have ZERO leg to stand on. Your moronic ideology of trickle down has been a complete and utter failure.

We need to go to the top nominal tax rate of just before Reagan came into office of 90% and impose tariffs.

If cutting taxes gives businesses and the super rich more money to hire people, then where oh where were the jobs created in the 2000's when in ABSOLUTE FACT ..ZERO WERE CREATED.




[edit on 2-7-2010 by AllexxisF1]

[edit on 2-7-2010 by AllexxisF1]

Originally posted by DamaSan
reply to post by dolphinfan

 

Words words words... they get twisted around all the time.

I agree, bottom line is that you are going to be paying more. But didn't we all expect this when we "super-sized" the money supply last year for bail-outs?

I could be wrong, but the money supply wasn't really super-sized, it was just expanded to stabilize the books of Fannie, Freddie, AiG, blah blah.

Total money supply is actually dropping. Add this fact with higher government debts and higher taxation and the economy will be really thirsting for dollars (deflationary depression).