Buffet Bitchslaps Barack !

Taxes go down on $50,000 earners, stay the same for $125000, and go down $6800 for $150000. $300000 earners will pay $60200, an increase of $1100 in federal taxes per the tables posted in post #10 of this thread. An increase of $1100, not a total of. Gross income is pointless to discuss because you pay taxes on net, commonly called taxable income. Reducing gross to net is determined by many different factors (number of dependents, deductions for all kinds of stuff specific to the taxpayer, etc.) A $300000 earner pays 20% to the feds. The “Buffet Rule” is for $1 mil and above. The $300 and $500k (up to $1 mil) earners would be affected by letting the Bush tax cuts expire. Originally Posted by Munchmasterman

Taxes aren't going down. There going up! Taxes are getting increased in certain cities in my state right now, with more increases on the way unless people vote them down. This so-called Buffet Rule is not accounting for increases in state, city, and county taxes. Right now this bill is all talk, the rich are just figuring out how they can take more from people who aren't in the special club of the elites. The majority of our population don't know how to protect their wealth but they do know how to spend. The numbers you posted in post #10 aren't the revised numbers before it reaches the house. The corporate media and the politicians say one thing, but do just the opposite. You should no that by now. A $300,000 wage slave is going to get taxed harder than 20% overall. The big thing is how that $300,000 is made; is it earned income (taxed the hardest), or passive or portfolio income protected via a corporate entity (taxed the least). If a person is an employee there is hardly anything a tax professional can do to save them from taxation.

Taxes aren't going down. There going up! Taxes are getting increased in certain cities in my state right now, with more increases on the way unless people vote them down. . Originally Posted by CPT Savajo

Where do you people get your information from?


http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm

Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found.
Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels.
Federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010.

Where do you people get your information from?


http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm

Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found.
Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels.
Federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010. Originally Posted by WTF

GD George Bush lowered taxes. we need more revenue.

Obama not only gets bitchslapped by Buffet, but gets it from his own hookers (Democrats in the Senate)!

http://www.truthdig.com/report/item/...bill_20110918/

Where do you people get your information from?


http://www.usatoday.com/money/perfi/taxes/2010-05-10-taxes_N.htm

Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman's presidency, a USA TODAY analysis of federal data found.
Some conservative political movements such as the "Tea Party" have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels.
Federal, state and local income taxes consumed 9.2% of all personal income in 2009, the lowest rate since 1950, the Bureau of Economic Analysis reports. That rate is far below the historic average of 12% for the last half-century. The overall tax burden hit bottom in December at 8.8.% of income before rising slightly in the first three months of 2010. Originally Posted by WTF

From a multi-millionaire, thats who. Not an employee writing an article in the corporate controlled USA Today. Plus I do pay attention to my local news and cities are raising taxes in my neck of the woods, or atleast they are trying to. People who are employees have the least protection when the tax man comes-a-knockin. That I do know. Even your accountant can tell you that. Single parents that have 6 to 10 kids get rewarded with government housing, welfare checks, college expenses paid for, food, you name it. While the working man gets screwed! The system is unfair.

Taxes aren't going down. There going up! Taxes are getting increased in certain cities in my state right now, with more increases on the way unless people vote them down. This so-called Buffet Rule is not accounting for increases in state, city, and county taxes. Right now this bill is all talk, the rich are just figuring out how they can take more from people who aren't in the special club of the elites. The majority of our population don't know how to protect their wealth but they do know how to spend. The numbers you posted in post #10 aren't the revised numbers before it reaches the house. The corporate media and the politicians say one thing, but do just the opposite. You should no that by now. A $300,000 wage slave is going to get taxed harder than 20% overall. The big thing is how that $300,000 is made; is it earned income (taxed the hardest), or passive or portfolio income protected via a corporate entity (taxed the least). If a person is an employee there is hardly anything a tax professional can do to save them from taxation. Originally Posted by CPT Savajo

I clearly state I am talking about federal taxes. And if federal taxes are going down but state/city taxes are going up, why are you bitching about the Buffet rule?

The numbers in post #10 are the numbers that are available now. I will continue to use them as a basis for these discussions until they are publicly changed.

Your claims and predictions are only that. Yours. And they are almost certainly wrong.

Because the republicans control the house. And if nothing can be agreed on, one prediction I would accept is the slightly higher rates that result from the tax cuts expiring. Because they won't be a prediction. They will be a fact.

From a multi-millionaire, thats who. Not an employee writing an article in the corporate controlled USA Today. Plus I do pay attention to my local news and cities are raising taxes in my neck of the woods, or atleast they are trying to. People who are employees have the least protection when the tax man comes-a-knockin. That I do know. Even your accountant can tell you that. Originally Posted by CPT Savajo

Until you post links that support your statements, your statements are just your opinions. The more attention you pay to different sources of information, the easier it is to quote them.

On a side note. If I make enough money to need an accountant, why would I worry about the taxman? Part of the cost of an accountant is his advice about how to reduce my tax burden.

From a multi-millionaire, thats who. Not an employee writing an article in the corporate controlled USA Today. Plus I do pay attention to my local news and cities are raising taxes in my neck of the woods, or atleast they are trying to. People who are employees have the least protection when the tax man comes-a-knockin. That I do know. Even your accountant can tell you that. Single parents that have 6 to 10 kids get rewarded with government housing, welfare checks, college expenses paid for, food, you name it. While the working man gets screwed! The system is unfair. Originally Posted by CPT Savajo

I noticed your edit.
Single parents with 6 to 10 kids? The fastest growing demographic in the US.

Rewarded with shitty housing, welfare checks, and all the cheese and peanut butter they can eat right up until they go off to free college? How will mom keep all those commencements straight? They'll have computers in every room, video games, flat screens, trips to Six Flags every month, prom, 5-6-7 maybe 9 cars (I'm naming it)

You're right. I wish I had grown up without a father. I could have shared my room with 4 brothers until I drove off to college in my car. I got fucked by having 2 parents. If I wanted to drive I had to borrow one of their cars.
I wish my mom had divorced my dad and given me the life of luxury you describe.

I clearly state I am talking about federal taxes. And if federal taxes are going down but state/city taxes are going up, why are you bitching about the Buffet rule?

The numbers in post #10 are the numbers that are available now. I will continue to use them as a basis for these discussions until they are publicly changed.

Your claims and predictions are only that. Yours. And they are almost certainly wrong.

Because the republicans control the house. And if nothing can be agreed on, one prediction I would accept is the slightly higher rates that result from the tax cuts expiring. Because they won't be a prediction. They will be a fact.



Until you post links that support your statements, your statements are just your opinions. The more attention you pay to different sources of information, the easier it is to quote them.

On a side note. If I make enough money to need an accountant, why would I worry about the taxman? Part of the cost of an accountant is his advice about how to reduce my tax burden. Originally Posted by Munchmasterman

The long term trend of federal taxes will continue to rise, not go down. I'm not bitching about the Buffet Rule, no one in this thread has the power to stop it from progressing but if it does see light it will not turn out to be what you think it is in finished form. As long as the powers that be continue to hold power in this country many other forms of taxation will follow, that is a fact. My claims are not wrong, your wrong. I'm not going to do what you want me to do, you are not an authority to me and I certainly don't answer to you.

A good accountant can save you money however if your an employee your just fucked via taxation, you should know that. Unfortunately this happens to probably 90% of the population. Judging from what you've just mentioned above you don't make enough money to need an accountant but I do. You must fall into the earned income category and there's nothing wrong with that, the highest type of income that is taxed so chances are your not going to need one. Thats why you pay a higher percentage of your income in taxes vs. Buffet and thats a fact, not fiction.

I noticed your edit.
Single parents with 6 to 10 kids? The fastest growing demographic in the US.

Rewarded with shitty housing, welfare checks, and all the cheese and peanut butter they can eat right up until they go off to free college? How will mom keep all those commencements straight? They'll have computers in every room, video games, flat screens, trips to Six Flags every month, prom, 5-6-7 maybe 9 cars (I'm naming it)

You're right. I wish I had grown up without a father. I could have shared my room with 4 brothers until I drove off to college in my car. I got fucked by having 2 parents. If I wanted to drive I had to borrow one of their cars.
I wish my mom had divorced my dad and given me the life of luxury you describe.
Originally Posted by Munchmasterman

You gotta understand sarcasm when you see it. A single parent could have 1, 2, or 3 kids. I was highly exageratting on a single parent having 6-10 kids but it is common in our society for a single parent to have that many kids while collecting a welfare check. People like that can get free rides in this country if they know how to manipulate the system. Thats a fact. Hell this system encourages it. I do not.

Sorry you got fucked for having two parents, more sarcasm for you Munch.

You gotta understand sarcasm when you see it. A single parent could have 1, 2, or 3 kids. I was highly exageratting on a single parent having 6-10 kids but it is common in our society for a single parent to have that many kids while collecting a welfare check. People like that can get free rides in this country if they know how to manipulate the system. Thats a fact. Hell this system encourages it. I do not.

Sorry you got fucked for having two parents, more sarcasm for you Munch. Originally Posted by CPT Savajo

Everyone gets carried away sometimes.

No, really.

From a multi-millionaire, thats who. Not an employee writing an article in the corporate controlled USA Today.. Originally Posted by CPT Savajo

Do you know who Bruce Bartlett is?

Cities may be raising taxes but is that Obama's fault? God Damn my man, get a grip of reality! We overspent as a country. Households are upside down. We are not coming out of this anytime soome unless we inflate our way out like Reagan did.

http://mediamatters.org/research/201004150075

As noted earlier, federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.
According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year. The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range. For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.

Do you know who Bruce Bartlett is?

Cities may be raising taxes but is that Obama's fault? God Damn my man, get a grip of reality! We overspent as a country. Households are upside down. We are not coming out of this anytime soome unless we inflate our way out like Reagan did.

http://mediamatters.org/research/201004150075

As noted earlier, federal taxes are very considerably lower by every measure since Obama became president. And given the economic circumstances, it's hard to imagine that a tax increase would have been enacted last year. In fact, 40% of Obama's stimulus package involved tax cuts. These include the Making Work Pay Credit, which reduces federal taxes for all taxpayers with incomes below $75,000 by between $400 and $800.
According to the JCT, last year's $787 billion stimulus bill, enacted with no Republican support, reduced federal taxes by almost $100 billion in 2009 and another $222 billion this year. The Tax Policy Center, a private research group, estimates that close to 90% of all taxpayers got a tax cut last year and almost 100% of those in the $50,000 income range. For those making between $40,000 and $50,000, the average tax cut was $472; for those making between $50,000 and $75,000, the tax cut averaged $522. No taxpayer anywhere in the country had his or her taxes increased as a consequence of Obama's policies.

Originally Posted by WTF

No I don't know who he is but I could research his name. I never said that it was Obama's fault now did I? I never even mentioned Obama's name. Correct me if I did! However Obama does have a BIG part in the deficit spending, I will say that and he's not the only one! If you think that Obama's policies are so brilliant go out and ask small business owners, private practice doctors, pharmacists and such. Ask them if they got they asses taxed. How about the coal industry, ask them if they got their asses taxed? Obamacare! They way I see it, the economy keeps collapsing and they keep trying to paper over the problem thinking this will fix the problem and their finding out that it isn't working. If you think that taxes aren't going up then your crazy! Inflation is a tax, it's a silent tax caused by all this printing of the dollar, which steals wealth from everybody whether you realize it or not. The jokes on the people, it's a polticians job to stick their hands into your pockets!

Why would a self admitted patriotic American want to lower his tax burden? I would have thought you'd want to pay more. Munch, you obviously want all the benefits, but when it comes to paying for them, nope, you'll hire an accountant to make sure you pay as little as possible.

This is getting funny;

Dick Durbin, who authored the legislation that made Bank of America increase consumer fees, went into the Senate well to tell American consumers to make a run on BofA and get their money out !!!!!!!!!!

BofA stock has nose dived ($5.70/share)!!!!!!!!

And Warrent Buffet, friend of Obama, has lost untold millions on his $5 billion stake in B of A ($7/share).......about $1 billion in stock value losses...but he will find a way to use those losses to off set capital gains and income taxes; afterall he is still fighting paying his fair share with five year old tax battles with the IRS !



These democratic phonies (Obama, Durbin, Buffet), deserve each other !

And you deserve G W Bush and his doubling of the debt