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Thread: Obama tax plan: $80 billion in cuts, five-minute filings

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    re: Obama tax plan: $80 billion in cuts, five-minute filings

    Quote Originally Posted by Harry Guerrilla View Post
    Taxes are going up next year, for everyone.
    EITC payments are going down for the 2011 tax year.
    That is a very, very broad and misleading statement. Lets throw some facts in there shall we?

    QUICK FACT: Laffer continues to mislead on 2011 tax changes | Media Matters for America

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    re: Obama tax plan: $80 billion in cuts, five-minute filings

    More proof that the tea parties are irrelevant and ignorant




    You wish.

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    re: Obama tax plan: $80 billion in cuts, five-minute filings

    They are not socially irrelevant, they clearly pay a valuable roll in pointing out the fact that many Americans have sub par intelligence.

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    re: Obama tax plan: $80 billion in cuts, five-minute filings

    Quote Originally Posted by Deuce View Post
    See this is what we're talking about. Peoples' taxes went down and most of them aren't even aware of it.
    How do you like the prices of cigerettes? Just because Obama takes a few pictures of him smoking a cigerette and saying he wants to quit he can hike the sin tax up? Watering down the peoples money with bailouts and creating sin taxes must be takin into account also and juxtaposed next to anything cut.
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    re: Obama tax plan: $80 billion in cuts, five-minute filings

    Should we also count the tax on stupidity then? Better known as the lottery?

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    re: Obama tax plan: $80 billion in cuts, five-minute filings

    Quote Originally Posted by Deuce View Post
    See this is what we're talking about. Peoples' taxes went down and most of them aren't even aware of it.
    What we're talking about in a tax system that's so darned complicated nobody can really TELL if taxes are cut. Tax credits, "if you're doing this you get that" credits, expanded deductions. One shouldn't have to be a Philadelphia Lawyer to figure out #1 how to fill out their taxes and #2 whether or not they're paying more or less. Sending people checks in the mail is a ridiculous way to effect tax cuts. JMVHO.
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    Re: Obama tax plan: $80 billion in cuts, five-minute filings

    Welcome to bizzaro world people. Under the new "health reform" bill people's benefits packages may be taxed as income, as well anything that has an FDA number is subject to tax(including, but not limited to OTC/BPO medicines, medical devices, and toothbrushes). Cap and Trade is back on the table, the Bush tax cuts are being allowed to sunset, I.R.S. powers have been increased, the death tax is being reinstated in 2011, and there have been internet usage taxes proposed as well as a newly instituted tanning bed tax.............

    But taxes are not going up.
    Last edited by LaMidRighter; 07-17-10 at 03:33 PM.
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    Re: Obama tax plan: $80 billion in cuts, five-minute filings

    Quote Originally Posted by The Dane View Post
    That is a very, very broad and misleading statement. Lets throw some facts in there shall we?

    QUICK FACT: Laffer continues to mislead on 2011 tax changes | Media Matters for America
    Uhh no.

    Taxes are going up for everyone who pays taxes.
    The Bush tax cuts are expiring next year, which raises the tax rates on everyone.

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    Re: Obama tax plan: $80 billion in cuts, five-minute filings

    @ Midnight -- I think it's only fair that employees' healthcare benefits are taxable. Until people who pay their own healthcare are allowed to deduct their healthcare premiums right off the top, not subject to "Oh, you have to pay a certain % of your income before they're deductible, it's very unfair treatment.
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    Re: Obama tax plan: $80 billion in cuts, five-minute filings

    Quote Originally Posted by MaggieD View Post
    What we're talking about in a tax system that's so darned complicated nobody can really TELL if taxes are cut. Tax credits, "if you're doing this you get that" credits, expanded deductions. One shouldn't have to be a Philadelphia Lawyer to figure out #1 how to fill out their taxes and #2 whether or not they're paying more or less. Sending people checks in the mail is a ridiculous way to effect tax cuts. JMVHO.
    FY2009 and 2010 had the same tax brackets and levels that 2008 had.
    A credit was (for most households) applied to your 2009 return. $400, or $800 for married joint-filers. I think the same will be done in 2010, but I'm not certain of that.
    A full third of the stimulus spending was tax cuts of various forms, many of which help small business owners.

    If you had somebody else do your taxes for you, it's not hard to see how you would miss this. The tax accountant guys would be handling it and might not even bother to mention it since it's relatively small and shows up on everyone's return.

    Edit: Actually, it was adjusted on the employer withholding end, it turns out. So it's even easier for someone to be unaware that it even happened.
    Last edited by Deuce; 07-17-10 at 03:53 PM.
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