Page 2 of 13 FirstFirst 123412 ... LastLast
Results 11 to 20 of 127

Thread: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

  1. #11
    Advisor JRog's Avatar
    Join Date
    Aug 2012
    Last Seen
    12-20-12 @ 01:41 PM
    Lean
    Progressive
    Posts
    569

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by j-mac View Post
    This is maddening....No one is talking about actual tax reform, rather just lip service to the things that need to be done....
    The Buffett Rulel is the alternative to the AMT. It would focus an AMT-like tax on only high-earners to prevent lower-income individuals from being sucked into the AMT due to a failure to update the paramaters for inflation. The problem is that we have people debating tax reform in our government who don't understand taxes or economics.

  2. #12
    Resident Martian ;)
    PirateMk1's Avatar
    Join Date
    Apr 2012
    Location
    California
    Last Seen
    Today @ 03:07 AM
    Gender
    Lean
    Private
    Posts
    9,927

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by Boo Radley View Post
    Not in a hurry, and later I may look as well. Just hate to speak when I'm not really sure of all the details.
    I hear and apreaciate that brother, catch ya later.
    Semper Fidelis, Semper Liber.
    I spit at lots of people through my computer screen. Not only does it "teach them a lesson" but it keeps the screen clean and shiny.
    Stolen fair and square from the Capt. Courtesey himself.

  3. #13
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 07:39 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by JRog View Post
    The Buffett Rulel is the alternative to the AMT. It would focus an AMT-like tax on only high-earners to prevent lower-income individuals from being sucked into the AMT due to a failure to update the paramaters for inflation. The problem is that we have people debating tax reform in our government who don't understand taxes or economics.

    Buffet has an ulterior motive for his involvement in the propaganda.



    This is theft of private property plain and simple, and unconstitutional.

    However, that matters little to progressives right?

    As a kind of bailout for bankrupt union retirement schemes, Democrats are considering yet another Constitution-trampling government takeover, this time, of private 401k retirement accounts.

    The idea would be to create yet another entitlement program through which government would dictate the terms of everyone's retirement--while making it so difficult and costly to have a private 401k that everyone is forced into it.

    Under Obama, the federal government has now illegally taken over the auto industry, the banks, housing, health care, student loans...and coming soon, apparently even private retirement accounts.

    But don't worry. It's not like history is jam-packed full of warnings against continuously surrendering freedoms and nationalizing all power into the hands of the few.

    Democrats eyeing 401k takeover - National Conservative | Examiner.com
    And then there is this interview....

    Government Takeover of 401k? | Fox Business Video

    It's not going to be on the up and up people.....This much like the Obamacare bill will be forced against the will of the people in the darkness of night.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #14
    Sage
    Fisher's Avatar
    Join Date
    Sep 2012
    Last Seen
    12-06-13 @ 02:44 PM
    Gender
    Lean
    Very Liberal
    Posts
    17,002

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    One of my brothers is a factory worker who makes between $50-$60K a year. He said that several people he knew who worked there awhile had 401k's well over a million dollars because they put a lot into what were previously high risk high return funds that were investing in factories being built in China and other places in Asia 10-15 years ago. I'd say they are safe investments now. It is ironic, however, that the dems are targeting them under the auspice they got rich off the backs of poor American workers when they are the poor downtrodden workers supposedly being defended against the capitalist swarm.

  5. #15
    Banned
    Join Date
    May 2012
    Location
    St. Petersburg
    Last Seen
    10-06-16 @ 12:49 AM
    Gender
    Lean
    Libertarian
    Posts
    16,875

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    The last thing you will hear is Nancy Pelosi saying we have to pass the bill to find out what is in it.

  6. #16
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    Yesterday @ 07:39 PM
    Gender
    Lean
    Conservative
    Posts
    30,322

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by blaxshep View Post
    The last thing you will hear is Nancy Pelosi saying we have to pass the bill to find out what is in it.
    maybe not in those exact words again, but she is a shell game wordsmith for sure.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  7. #17
    Tavern Bartender
    Constitutionalist
    American's Avatar
    Join Date
    Mar 2006
    Location
    Virginia
    Last Seen
    12-15-17 @ 10:49 AM
    Gender
    Lean
    Conservative
    Posts
    76,323

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by Fisher View Post
    One of my brothers is a factory worker who makes between $50-$60K a year. He said that several people he knew who worked there awhile had 401k's well over a million dollars because they put a lot into what were previously high risk high return funds that were investing in factories being built in China and other places in Asia 10-15 years ago. I'd say they are safe investments now. It is ironic, however, that the dems are targeting them under the auspice they got rich off the backs of poor American workers when they are the poor downtrodden workers supposedly being defended against the capitalist swarm.
    This is very rare, don't believe anyone who tells you this is common; especially people only making $60K/yr. <<< These people obviously are not raising families either.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

  8. #18
    Klattu Verata Nicto
    LaMidRighter's Avatar
    Join Date
    May 2005
    Location
    Louisiana
    Last Seen
    07-21-17 @ 02:42 PM
    Gender
    Lean
    Libertarian - Right
    Posts
    30,534

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by PirateMk1 View Post
    You set your account up in good faith, now the goverment is talking about taking it and putting into Social Security and just giving you a 3% return. That aint kosher no matter how you look at it.
    That should be prosecuted as securities fraud. It would be if a private sector broker shifted a 401K into another vehicle against the best interests of the client.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

  9. #19
    Banned
    Join Date
    Aug 2012
    Location
    The darkside of the moon
    Last Seen
    05-24-14 @ 05:56 AM
    Gender
    Lean
    Other
    Posts
    4,905
    Blog Entries
    2

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    OMG the republ;ican BS fear factory is at it again. We must stop the black president from raising taxes on the rich white people who do not even care about 99 percent of other white people as long as they don't pay taxes. Anyway, why is this fear unfounded for most of us?

    Average income for full time employed people in the US is 39k (less for the 50 percent of us with a vagina). So this is not even a concern for most of us considering the lowest number they gave for having this tax is in the 48 thousand range. Now before the reps start saying average means over 50 percent of us might have trouble with this you need to understand the mathmatics of avergae, and if you are about to claim something like that you are not smart enough to be in this conversation. The reality is that most full time working americans fall below the average due to the rather large disparity between top incomes and the lowest incomes. So this is not a concern for most americans. For those of you who take the standard deduction and do not itemize this is not even a concern for you as you are already paying enough.

    Who is this going to effect? People who make a lot of money and end up with huge deductions and pay little to no taxes. AKA the way more rich than you are. They want you to be afraid because the fiscal cliff is going to really hurt them. They want you to be as afraid as they are because their cliff is bigger than your small slope. So they grabbed a term only they are familiar with and are now shaking it in front of you claiming you will be horribly destroyed if you don't call up your senator in a panic and have a meltdown like they are. However, if you are actually worried do yourself a favor. Find your house reps contact info and anyone with an R next to their name call them up and tell them to quit screwing around and dump norquist and his insanity like the rest of the reps who want to be elected next term. If we get the budget there is no fiscal cliff to worry about and this doesn't mean a thing. Oh, and before the republicans bitch it is the job of congress to pass a budget. It is not their job to pitch another hissy fit because the black guy is still president. get on their ass and tell them to do their job or your state will find a person who can.

    You republicans are really getting desperate. obama beat your ass and now has your people by the short and curleys. it is time to raise taxes on the rich. Most people do not know what AMT is because they never need to worry about it. They pay their share of taxes already. they don't have huge deductions they abuse. They don't write off millions of dollars in taxes like the rich do. What is worse is that most of you republicans are poor or lower middle class anyway. You are not rich. This will never apply to you because you will never be rich even with all the opportunities in america. Your money is yours. the black man is not going to redistribute it, and if he actually did redistribute you would get the money because you are not even close to being above that line.

    So calm down, stop panicking, and relax. They will handle this before the cliff because it is their cliff. Why they set it up for themselves i will never understand, but they did. They will cave in because it is their loss and not ours. The people who are going to be hammered by this cliff are the rich. this is why the rich people in congress will never let it actually happen because they have so much to lose by this. It is their money, and they own all the big stuff in america. They won't sink it because they like their stuff. They are holding their stuff hostage. This is a bit of comedy done in blazing saddles where the sherrif holds himself hostage with his own gun and all the ignorant townspeople fall for it while the audience of intelligent people laughs. Only this time it is real life and house reps are holding themselves hostage and most of us are going shoot, we dare you.

  10. #20
    Ideologically Impure
    Simon W. Moon's Avatar
    Join Date
    Apr 2005
    Location
    Fayettenam
    Last Seen
    Yesterday @ 08:54 PM
    Gender
    Lean
    Conservative
    Posts
    16,958
    Blog Entries
    5

    re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by j-mac View Post
    Buffet has an ulterior motive for his involvement in the propaganda.



    This is theft of private property plain and simple, and unconstitutional.

    However, that matters little to progressives right?



    And then there is this interview....

    Government Takeover of 401k? | Fox Business Video

    It's not going to be on the up and up people.....This much like the Obamacare bill will be forced against the will of the people in the darkness of night.
    Somehow, when you trace the links back to the source, the source is different than what the links purport it to be.
    Go figure.

    http://www.whitehouse.gov/sites/defa...ddle-class.pdf
    I may be wrong.

Page 2 of 13 FirstFirst 123412 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •