So, when are my taxes going up?

[hal2kilo]

Do you really think we currently have the ability to not end up like Greece eventually? When you do the math and consider the political reality, we be fucked. On a somewhat good note, we can pretend that we aren't that bad off for a lot longer than Greece was able to due to the fact that we control our own money supply. That doesn't mean firing up the printing presses so much as it means we have the ability to play games for a while.

Eventually the math always wins.

Here is a pretty good chart that sorta gets to my point:

http://market-ticker.org/akcs-www?get_gallerynr=13

Dramatic much? What's Greece got going for it in regards to the global economy. Tourism, olive oil, and maybe wine?

As bad as things are, this country has amazing resources. If things go to shit, it will be worse everywhere else.

 

[GTaudiophile]

Dramatic much? What's Greece got going for it in regards to the global economy. Tourism, olive oil, and maybe wine?

As bad as things are, this country has amazing resources. If things go to shit, it will be worse everywhere else.

Oh yeah?

Ask Germany.
Ask China.
Ask India.

They are thriving. The world can leave the US behind as the second-rate nation it is becoming.

Oh, and our "resources" depend a bit on a highly educated populace. And that is not happening. Our primary education system is for shit.

 

[Engineer]

Oh yeah?

Ask Germany.
Ask China.
Ask India.

They are thriving. The world can leave the US behind as the second-rate nation it is becoming.

Oh, and our "resources" depend a bit on a highly educated populace. And that is not happening. Our primary education system is for shit.

Countries that are increasing manufacturing and exporting.....hmmmmmm:whiste:

If they don't restructure the tax code to move away from driving social issues and address what has to happen to create JOBS, we're just wasting our time.

Globalization is killing our ability to create jobs. Increased business taxes and health care taxes are killing our ability to create jobs. Massive bureaucracy and regulation make it very difficult to start businesses and create jobs.

Stimulus doesn't create jobs. More government programs don't create jobs. Businesses create jobs.

Why do we keep trying to become Greece? That's where we're headed.

I'm not saying that we should increase taxes but why haven't the tax cuts of the last 9 years created jobs then? We have the 2nd lowest BURDEN of corporate taxes in the industrialized world (after deductions). We can't compete with $0.08 per hour labor (China) no matter if we had ZERO taxes. That's the real issue.

 

[dmcowen674]

So, when are my taxes going up?

Apparently not soon enough in your case.

 

[piasabird]

Well once the USA cant pay our debt to China the world bank will force us to internalize more. Just like we can walk away from a mortgage we can walk away from our Chinese Debt if things dont pan out. Maybe no one will invest in the USA except via a cash basis. No treasury bonds, stock market will disappear and then we will have to go to a subsistance cash only market. When stores cant borrow to buy next years fashions, then times will get really tough. Too many people are too use to doing everything on Credit.

 

[theeedude]

Just a reminder that taxes are going to go up because GOP Congress voted for them to go up this year and GWB signed it. It's all part of the bill they passed.

 

[werepossum]

It would economic suicide to raise taxes during a recession or the early part of a recovery.

I think the calculation in Washington will be centered more on whether it is political suicide.

We are currently borrowing roughly half of every dollar the federal government spends. I don't think any but the really hard core 1 percenter leftists really believe we can fix that by raising taxes. Similarly we can't fix it by lowering taxes, because the rate at which the economy will be allowed to grow is governed by the Fed whose primary concern is making sure bank loans and investments don't get crushed by inflation. I agree with Darwin, as a nation we're screwed, blued and tattooed no matter which party is in power, the only difference being the rate at which we rush toward the rocky bottom. I only differ in whether we'll be allowed to walk away from our debt. I fear that politicians will continue to be a wise investment, and that our creditors will simply invest in enough of them to make sure we pay our debts even at the expense of basic needs.

I can see one possible way out. IF all federal taxes were replaced by the FairTax (thus falling as harshly on imported goods as on domestically produced goods), and IF all unnecessary parts of the federal government (such as department of education) were purged completely, and IF other parts of government were ruthlessly held to a growth well below the GDP's growth, and IF health care costs were moved from employers to individuals, and IF the resulting growth was not crushed by raising interest rates even as inflation rose, then there is a small chance that we could return to a balanced budget and perhaps even begin paying down the debt. Not one bit of that will happen though.

Just a reminder that taxes are going to go up because GOP Congress voted for them to go up this year and GWB signed it. It's all part of the bill they passed.

Interesting concept. Whatever the Republicans do is obstructionism, yet whatever the Democrats do is "all part of the bill [the GOP] passed". Obama would be proud of you, comrade.

 

[theeedude]

These tax hikes are part of the bill that GOP passed and GWB signed. The bill said loud and clear that taxes would be raised back after 10 years. I know it's easy to hate Obama, but he did not vote for or sign these tax hikes, the GOP did.

 

[thegimp03]

Letting the tax cuts of 01/03 expire will be the nail in the coffin for this administration. Buh-bye, have a nice day!

 

[ProfJohn]

I'm visiting with my brother in the richest county in the US for the third year in a row(Loudon County, Va) No signs of recession here. Still buldling shopping centers, 2 new high schools opening. Guy next store is a hedge fund algorithm designer with a basement full of computers. I think we could aford to skim a little off the top.

It's actually quite discusting. If people only knew how the other 2 per centers live.

Who is building those shopping centers and high schools? Who is building all those computers?

Imagine we raise taxes on those people and they stop building new shopping centers and buying all those computers. Who suffers then?

 

[Ns1]

"The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin)."

FUCK YOU OBAMACARE

 

[Engineer]

Who is building those shopping centers and high schools? Who is building all those computers?

Imagine we raise taxes on those people and they stop building new shopping centers and buying all those computers. Who suffers then?

China? Taiwan?

 

[Fear No Evil]

I'm visiting with my brother in the richest county in the US for the third year in a row(Loudon County, Va) No signs of recession here. Still buldling shopping centers, 2 new high schools opening. Guy next store is a hedge fund algorithm designer with a basement full of computers. I think we could aford to skim a little off the top.

It's actually quite discusting. If people only knew how the other 2 per centers live.

Sounds your family needs to pay their fair share. I vote for an additional 25% on your brother. And since you can apparently afford all this travel, I vote for an additional 20% on you as well.

 

[Fear No Evil]

These tax hikes are part of the bill that GOP passed and GWB signed. The bill said loud and clear that taxes would be raised back after 10 years. I know it's easy to hate Obama, but he did not vote for or sign these tax hikes, the GOP did.

So you need to decide on the talking point you want to use. Was Bush an irresponsible tax cut and spender or was he trying to raise taxes? Can't have it both ways.

Of course, we all know why the tax cuts expired because otherwise it would have never passed. The democrats were responsible for them having an expiration date and now Obama is responsible for not signing them in permanently.

 

[hal2kilo]

Sounds your family needs to pay their fair share. I vote for an additional 25% on your brother. And since you can apparently afford all this travel, I vote for an additional 20% on you as well.

You've obviously missed the point that the people living around Washington D.C., have no concept of how the rest of the unwashed live. As far as they are concerned, there's just a slight bump in there way of life right now.

I would say that all of the people attending my mothers viewing at the funeral home, if you must know, had at least MA's. These are people who think that the solutions to this country's problems is more education. I'm a product of that enviroment, but I moved away and learned that they are the exception and not the norm. There will always be people who can work hard with there hands but not with there minds. What's destroying this country is the policies of educated people thinking they are better and deserve more income than people who build and repair their subways, houses, cars, and computers ect. I find it incredible that the less I actually physically accomplish during a workday, but write about it and keep track of it the more I receive in income.

The elite like it this way. None of these people are liberals.

 

[Generator]

Capital gains only going to 20%. Thats not enough, the super rich are effectively taxed at 15% already. Tax these rich SoBs into the ground of making 200 million instead of 1 billion in one year. Was watching some CSpan about Hedge fund managers making a billion a year. All taked at 15% LOL...

Taxes definitely need to go up and all the democrats need to is drag their feet like the Republicans taught them to do. Thank fucking god this Bush Tax cut is coming to end. Not to say there aren't alot of shitty taxes coming in, I would like to see the bracket levels raised as well. That 39% needs to be $500,000 at least.

 

[Ns1]

Capital gains only going to 20%. Thats not enough, the super rich are effectively taxed at 15% already. Tax these rich SoBs into the ground of making 200 million instead of 1 billion in one year. Was watching some CSpan about Hedge fund managers making a billion a year. All taked at 15% LOL...

Taxes definitely need to go up and all the democrats need to is drag their feet like the Republicans taught them to do. Thank fucking god this Bush Tax cut is coming to end. Not to say there aren't alot of shitty taxes coming in, I would like to see the bracket levels raised as well. That 39% needs to be $500,000 at least.

yes, penalize success, sounds like a great plan

 

[hal2kilo]

yes, penalize success, sounds like a great plan

Sounds like a bunch of lazy F's who give up when life throws them a little tax obstacle. Of course we know that those people don't. More conservative mythology.

 

[SammyJr]

yes, penalize success, sounds like a great plan

Successful in the same way leeches are successful, but I'm not going to hesitate to remove the leaches from my feet after crossing a river.

 

[Ns1]

Sounds like a bunch of lazy F's who give up when life throws them a little tax obstacle. Of course we know that those people don't. More conservative mythology.

if they were lazy mother fuckers they wouldn't be making millions of dollars

 

[theeedude]

So you need to decide on the talking point you want to use. Was Bush an irresponsible tax cut and spender or was he trying to raise taxes? Can't have it both ways.

Why not? GOP passed and he signed both the irresponsible tax cuts and their expiration in one bill.

Of course, we all know why the tax cuts expired because otherwise it would have never passed. The democrats were responsible for them having an expiration date and now Obama is responsible for not signing them in permanently.

Why would they have not passed, GOP had both houses and presidency?

 

[theeedude]

if they were lazy mother fuckers they wouldn't be making millions of dollars

You can be lazy, inherit an estate and make millions of dollars off the dividends.

 

[Fear No Evil]

Why not? GOP passed and he signed both the irresponsible tax cuts and their expiration in one bill.

Why would they have not passed, GOP had both houses and presidency?

Did they have a super majority like Obama and crew?

 

[Ns1]

You can be lazy, inherit an estate and make millions of dollars off the dividends.

the comment was "Was watching some CSpan about Hedge fund managers making a billion a year. All taked at 15% LOL"

You don't become a hedge fund manager by being lazy

 

[BigDH01]

Who is building those shopping centers and high schools? Who is building all those computers?

Laborers.

Imagine we raise taxes on those people and they stop building new shopping centers and buying all those computers. Who suffers then?

Where is that tax money going? I imagine it is being spent and, in-turn, ending up in someone's pocket who is shopping at shopping centers, buying computers, and going to school. The government can have a hand in allocating wealth, it doesn't throw it into a big pile on the White House lawn and set fire to it.