Greenspan: Let Bush's Tax Cuts Expire

[MotF Bane]

Hey now, don't insult the neighborhood Fast Food Preparation Engineer that way. Dave can only aspire to that position. :awe:

What's left under Fast Food Preparation Engineer? Grunting and pointing at the floor while holding a mop?

 

[ebaycj]

lol I'll be glad to pay the extra 2% increase from 33% to 35% so those lowlife leech fucks get a 50% increase

I bet in absolute dollar amount, your 2% increase is equivalent to at least 10 people's 5% increase. Still feel good about it?

 

[IndyColtsFan]

What's left under Fast Food Preparation Engineer? Grunting and pointing at the floor while holding a mop?

Maybe. But what we do know is that regardless of positions, Dave couldn't work at Long John Silver's because of the presence of Malt Vinegar.

 

[ebaycj]

You think a working couple making $130K is rolling in cash? You really are a minimum wage loser, aren't you?

Dave has likely made less than 50k for his entire life, and has never been able to move past that milestone.

Others, do that either right out of college, or with 2-3 years experience.

 

[ebaycj]

You can't possibly be this clueless. In a lot of places, 130K is next to nothing. Picture gets worse when you factor in their mortgage, possible car payments, student loan repayment, and the fact that of that 130K, 50K is likely going to Federal/State/Local income taxes.

It boggles my mind that so many people seem perfectly willing to let their taxes jump by such large margins. We're not talking about 5 dollars a month here, guys. Taxes should be kept as low as possible, keeping spending under that figure. This is a concept our elected political heroes have a hard time grasping.

I pull in just under 40K a year, and of that, more than half goes to the government in some fashion. Money I could have spent on furniture for my residence, computer parts, landscaping, etc. Money, by the way, that doesn't get cycled back into the economic engine and instead disappears into the government dead weight.

Your opinion no longer matters. It's obvious that you are a deluded wage slave and don't even know it. You are taking your oppressors side with your rhetoric. Sad.

 

[rudder]

I received my Obama tax hike exemption card in the mail today... I am good.

httP://www.atr.org/card

 

[JD50]

lol I'll be glad to pay the extra 2% increase from 33% to 35% so those lowlife leech fucks get a 50% increase

You fail at deductions if you're actually paying 33%. Those of us that are in the middle class and have kids and a house usually fall down within that 10% range after all the deductions are accounted for.

 

[Slew Foot]

You fail at deductions if you're actually paying 33%. Those of us that are in the middle class and have kids and a house usually fall down within that 10% range after all the deductions are accounted for.

Once you start making real cash you lose a lot of deductions and get creamed by AMT. Unless you incorporate, high wage earning w-2 workers get shafted.

 

[Zebo]

Once you start making real cash you lose a lot of deductions and get creamed by AMT. Unless you incorporate, high wage earning w-2 workers get shafted.

There ya go. I bet "Pacific anesthesiology" bought you a Porsche to get to hospital to hospital.

 

[Zebo]

You fail at deductions if you're actually paying 33%. Those of us that are in the middle class and have kids and a house usually fall down within that 10% range after all the deductions are accounted for.

What he really fails at is he still pays increaes in every graduation so formerly 10% at low end is 15% as well for those bracketed dollars for him. Depending how much he makes the so-called 2% increase is actually higher when amortized over schedule. (well plus AMT)

 

[child of wonder]

Holy Fuck!!! Not rolling in cash?????????????????????????

Typical punk ass Republicans out of touch with the real world

LMFAO!!!!!!!!!!

Me? A Republican?

LMFAO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I abhor both political parties.

 

[Zebo]

I received my Obama tax hike exemption card in the mail today... I am good.

httP://www.atr.org/card

LOL Always good for a laugh Rudder


Man I just have to call in sick today,

 

[khon]

I received my Obama tax hike exemption card in the mail today... I am good.

httP://www.atr.org/card

Too bad you didn't get your "Civics for dummies" pamphlet instead, maybe then you'd know about things like seperation of powers....

 

[BoberFett]

Too bad you didn't get your "Civics for dummies" pamphlet instead, maybe then you'd know about things like seperation of powers....

I always thought Democrats were supposed to have better senses of humor. Oh well, guess they lie about that too.

 

[Zebo]

Maybe. But what we do know is that regardless of positions, Dave couldn't work at Long John Silver's because of the presence of Malt Vinegar.

LOL Oh MG the vinegar back ground checks. *That* was funny.

 

[shira]

Watch what happens if congress doesn't extend it. I'm hoarding my money and not spending jack squat because of it. Also pulling my money out of the market this year specifically because of the increases.

There you go again, blaming the economy on tax policy. Seems to me that some right-wing wacko wrote in another thread the other day that all it requires to succeed is the right attitude, and that blaming others was a sure sign of failure. Yet here you are - yet again - blaming government for the economy and telling us you're going into an economic shell and hiding.

Why don't you explain to us how THAT attitude and behavior is the key to riches?

 

[shira]

My wife and I were doing the math the other night and if tax rates went back to 2000 rates we would be looking at $500 less per month once she finishes school and is working full time.

Ouch.

Our income would be ~$130,000 combined. Not rolling in cash by any means. The $500 is even after 15% of both our incomes going into 401k and health insurance for the whole family.

Under the DEMOCRATIC proposal, your tax rates wouldn't change. The right-wing noise machine conveniently avoids mentioning that the proposal to let the Bush tax cuts lapse applies only to the upper brackets.

 

[spidey07]

There you go again, blaming the economy on tax policy. Seems to me that some right-wing wacko wrote in another thread the other day that all it requires to succeed is the right attitude, and that blaming others was a sure sign of failure. Yet here you are - yet again - blaming government for the economy and telling us you're going into an economic shell and hiding.

Why don't you explain to us how THAT attitude and behavior is the key to riches?

Avoiding excessive taxation and taking advantage of current low rates when they are set to increase significantly (15% to 35%) is called being smart. Part of wealth building is also to examine tax implications of your decisions. Don't be obtuse and conflate the issue.

 

[shira]

They are called liberals.

No; they are called Republicans. That's why the blue states have a net OUTFLOW of federal taxes and the red states have a net INFLOW.

 

[child of wonder]

Under the DEMOCRATIC proposal, your tax rates wouldn't change. The right-wing noise machine conveniently avoids mentioning that the proposal to let the Bush tax cuts lapse applies only to the upper brackets.

Good to know. Thank you for pointing that out.

I was under the impression that all tax brackets could go back to 2000 levels. Shame on me for not doing my research.

 

[spidey07]

Good to know. Thank you for pointing that out.

I was under the impression that all tax brackets could go back to 2000 levels. Shame on me for not doing my research.

You are correct. ALL brackets are set to rise with the biggest increases being the poor and middle class.

 

[SammyJr]

You think a working couple making $130K is rolling in cash? You really are a minimum wage loser, aren't you?

Outside of a major city, $130k is a very good income. Median household income in my county is right around $50k with most homes between $130k and $400k. Income at that level enables such a couple to save quite a bit.

 

[CADsortaGUY]

How are Republicans planning to offset extending Bush tax cuts to make them deficit neutral?

We've been over this before. There is no "cost" to a tax-cut. An extension would not need to be "offset" as it'd continue an already existing revenue stream.

IMO the question that should be asked is how the leftists plan on reducing the deficit after the tax-increase further damages our economy and thus tax revenue.

 

[child of wonder]

You are correct. ALL brackets are set to rise with the biggest increases being the poor and middle class.

My Google-fu reveals most in Congress want the income brackets to stay the same with the exception of the 33% and 35% ones. Those would go to 36% and 39.6%.

http://www.savingtoinvest.com/2010/04/2010-and-2011-tax-brackets-new.html
http://www.foxnews.com/politics/2010/07/12/republicans-sound-warning-expiration-bush-tax-cuts/
http://www.time.com/time/politics/article/0,8599,2005389,00.html

It seems some are saying ALL of the tax cuts will expire while most seem to be saying that the middle class cuts will likely be extended.

However, the child tax credit may be cut in half. That would be a big blow to many families as would the marriage penalty.

Time will tell.

 

[PingSpike]

Nevermind the fact that I kept interest rates stupidly low when the economy was booming. Yeah that didnt inflate any bubbles or anything.

LOL...Greenspan needs to STFU