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

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

    Quote Originally Posted by Fisher View Post
    I am on the side of the GOP in terms of having to have the cuts before we raise taxes in a recession.
    Absolutely right. Along with that if there are increases there needs to be a sunset to an agreed upon rate. The federal needs to figure out exactly how long taxes need to increase and what rate, no rhetoric but actual numbers that can be checked for accuracy, if they are wrong they don't get to extend the rates. And taxes should be off the table until spending is cut and that means all inefficiencies.
    I think the extension until a detailed agreement can be found is the best we can do and Obama has said no because he thinks he can extort them out of what he wants without giving up anything. I would rather the automatic cuts were across the board to all departments and agencies, but in the end, they need to go through it line by line and come up with a budget not some half-ass patch.
    Agree in full.
    Neither side in an argument can find the truth when both make an absolute claim on it.

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

    Quote Originally Posted by specklebang View Post
    To be honest though, I don't think most people can be trusted to save money or wisely mange their investments. No disrespect to my fellow humans but most of you seem to buy a lot of **** on credit. That alone proves something or the other.

    I'll be absolutely astonished if this event horizon occurs but ANYTHING is possible from your nation capitol.

    If the government doesn't force you to save, you'll too likely end up on my dime. Too bad they keep damaging the value of your savings.
    All this is assumptive. People feel they don't have to save money because of mandated retirement programs like SS, they don't realize it could bankrupt, it could be trimmed down, and the age could be increased. Government taking peoples' retirement accounts to sell bonds will not do anything but throw those retirement dollars into the government, they actually in the long run will cost people retirement money, and insure less quality of life in later years. Now, the retirement planning problem is specifically created through the mentality that government officials can guarantee success, when in reality most of those people haven't ever had any successes outside of government. In other words, incompetence created the retirement situation and incompetents are further adding to the problem.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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

    Well, nobody agrees more that our tax code needs to be erased and rewritten in less than 50 pages. The gasping sound you are hearing is me trying to hold my breath

    A majority of the population doesn't know a client from a professional. They have very little money. All of them are in debt. The smaller group of highly succesful but not ostentatious has much more than their 401K or IRA does. They just have them for the tax deferral.

    So, what do you suggest that makes sense for everyone (even if it inconveniences a few within reasonable limits)?



    Quote Originally Posted by LaMidRighter View Post
    Here's the thing. If there wasn't such a complicated tax code there wouldn't be needs for deferred vehicles, that said the government needs to be way less involved. The only business the government should have is over criminal activity, not trying to raid pension vehicles for the money contained in them. There are tons of professionals who know how to produce a successful retirement portfolio, this latest idea gets between those pros and their clients, and it's at the expense of the client's best interests.

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

    Oops. Crossed posts.

    You answer some points but my question still is open? What would you do?



    Quote Originally Posted by LaMidRighter View Post
    All this is assumptive. People feel they don't have to save money because of mandated retirement programs like SS, they don't realize it could bankrupt, it could be trimmed down, and the age could be increased. Government taking peoples' retirement accounts to sell bonds will not do anything but throw those retirement dollars into the government, they actually in the long run will cost people retirement money, and insure less quality of life in later years. Now, the retirement planning problem is specifically created through the mentality that government officials can guarantee success, when in reality most of those people haven't ever had any successes outside of government. In other words, incompetence created the retirement situation and incompetents are further adding to the problem.

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

    Quote Originally Posted by specklebang View Post
    Well, nobody agrees more that our tax code needs to be erased and rewritten in less than 50 pages. The gasping sound you are hearing is me trying to hold my breath

    A majority of the population doesn't know a client from a professional. They have very little money. All of them are in debt. The smaller group of highly succesful but not ostentatious has much more than their 401K or IRA does. They just have them for the tax deferral.

    So, what do you suggest that makes sense for everyone (even if it inconveniences a few within reasonable limits)?
    First off, tell every single politician to shut it on the 401(k) grab. Next, find someone with a good track record in the financials market or watch your benefit offered plans like a hawk. Most professionals do a rollover using a specific formula tailored to risk tolerance and time available to build. There is conservative, moderate, and high risk. Pros know how to diversify and shift risks according to the economic factors to either preserve or grow the initial investment. That's the best I can do, people are on their own whether the government gets involved or not. Unfortunately government interference tends to cost people value in their retirement plans.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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

    Quote Originally Posted by tererun View Post
    If by heroes you are referring to my grandparents who worked all their lives and paid into medicare only to have it threatened by the people they supported for office, then yes that would be them. They are lazy victims anyway. i mean 2 were army vets who came back and worked and worked full time and were loyal to their companies for full retirement. The other two were the lazy female type who raised kids while maintaining full time jobs for over 40 years. Those damned victims! Thn there are my parents who are just about to reach retirement age after working all of their lives and raising children. They seem to be wondering if they will ever get to retire if the republicans have their way. You don't even want to talk to those people about the joys of privatized health insurance. I don't think there is a single one of them that has not been cheated out of health care by those great insurance people they pay to cover their health care. It is just complaint after complaint about fighting the insurance companies to fix broken bones, remove cancerous tumors, and how after jumping through all the hoops for the health care they pay for the insurance company denies payment for treatments they approved time and time again. What do they expect after loyally paying their insurance and getting approval before any treatments or exams happen? One would think they would get the point that you pay health insurance for the fun of it.


    That does not effect them that much now, but considering they may need them in the future to do things like eat despite working all their lives they seem to want it there. Don't ask me they are just silly about things like eating.
    approval before any treatments or exams happen? One would think they would get the point that you pay health insurance for the fun of it.


    Yeah, damned great grandchildren and grandchildren wanting to do things like eat at school. Thopse damned lazy victims. The oldest is in first grade, and it is time for him to get a job.


    Seriously, what do you have against old people who built this country anyway? They actually worked all their lives building things like utilities, roads, teaching, and even having their own businesses. What is your problem with them anyway?
    Then stop voting to give illegal aliens benefits they never paid for. My parents have never had the issues with their insurance that you describe.
    "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)
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    Re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Not confiscating. Just taxing. Right?

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

    Quote Originally Posted by American View Post
    Then stop voting to give illegal aliens benefits they never paid for.
    Funny, in all the things I've voted for, I've never seen the "give illegal alien benefits they never paid for" selection on my ballot. Would you care to be more specific, or is your foaming partisan rhant just hot air?

    Quote Originally Posted by American View Post
    My parents have never had the issues with their insurance that you describe.
    Oh well since your parents never had those issues, I guess they don't exist right?

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

    Quote Originally Posted by Boo Radley View Post
    Not confiscating. Just taxing. Right?
    Nope just supplying articles for perusal on the subject. Me I think it be taxing FIRST taking SECOND. Thats me of course.
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    Re: ‘Fiscal Cliff’ Could Put Millions of Taxpayers Into ‘AMT Shock’ [W:66]

    Quote Originally Posted by TheNextEra View Post
    Funny, in all the things I've voted for, I've never seen the "give illegal alien benefits they never paid for" selection on my ballot. Would you care to be more specific, or is your foaming partisan rhant just hot air?



    Oh well since your parents never had those issues, I guess they don't exist right?
    Your representatives do. Since my parents haven't had those issues, it probably means that many others haven't either, meaning the problem isn't the rule.
    "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.

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