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Thread: Obama will not extend Bush tax cuts to wealthy

  1. #121
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by washunut View Post
    As to your first question, the answer is that for most small businesses the income of the company is considered income for the owner. So the two numbers are added together to get the same 500K.
    Well that's stupid. Sounds like something that should be changed. Then again it would be hard for a bank or government to know if the money in this "asset account" for a small business is being spent on personal things or things for the business. But me being an honest guy I think I should be able to set up something where I take out $50k from the profits for my personal yearly income and put the rest toward future purchases for my business. Is there no way to do this right now?
    "There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, it to be dreaded as the greatest political evil under our Constitution." óJohn Adams

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by phattonez View Post
    So the point of a politics DISCUSSION board should be to SHUT UP and accept what happens?
    "God, grant me the serenity to accept the things that I cannot change."

  3. #123
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Mickey Shane View Post
    "God, grant me the serenity to accept the things that I cannot change."
    You're really going to quote the serenity prayer? You're a hack, get over it. You're only saying it because it's a policy that you support. If republicans tried to cut taxes on the wealthy you'd be the first one complaining here. Remember that when the republicans try to pass a tax break for the rich when they win the House.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  4. #124
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by upsideguy View Post
    So you are saying America has become servants to the world?

    Sorry, its hard to believe you can have a sustainable economy without making or creating something. A pure service economy does not work.
    If that's true then why do you pay your waiter, or your chef, or the guy who parks your car? Hmm, those services must be worth something then.

    Who shall ascend the hill of the Lord? And who shall stand in his holy place? He who has clean hands and a pure heart, who does not lift up his soul to what is false, and does not swear deceitfully. Psalm 24
    "True law is right reason in agreement with nature . . . Whoever is disobedient is fleeing from himself and denying his human nature [and] will suffer the worst penalties . . ." - Cicero

  5. #125
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by phattonez View Post
    If that's true then why do you pay your waiter, or your chef, or the guy who parks your car? Hmm, those services must be worth something then.
    They have low worth though it seems. I think the US needs to stick to technology, the tax cuts should be aimed at the biotech industry, America has always been the land of inovation and those jobs be readily available would serve to push better math and science education in this country.

  6. #126
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Jucon View Post
    I don't know a whole lot about owning a business or accounting, so I'm hoping someone can answer this for me...

    When someone owns a small business and the business makes a profit of say, $500,000 in one year, what is keeping the owner from paying them self $249,999.99 ( as their personal income and putting the other $250,000.01 into some kind of asset account? I'd think you would be able to pay yourself $249,999.99 and still be considered "middle class" according to Obama's tax plan. If I owned a business I'd likely only pay myself $50k to $100k anyways... the less money I pay myself the more I can put into the business and hopefully make the company more profitable and possibly be able to hire more people. I don't need a luxurious life to be happy. I'm not one to dictate what someone should be making... Just asking questions here.

    But I am confused why people are so outraged about a 3-4.6% increase in taxes for a select few when often these same people talk so much about balancing the budget. Cutting government programs is not enough to close the budget gap... and cutting programs is unfortunately a slow process. If the Republicans take over, which I expect they will, I hope they keep their promise and start cutting and changing government programs we don't need at a faster pace than the Dems have been. I have serious doubts though...
    Here is the problem. Small business file as S-corporations, and under Obama's plan, he will also tax the $250,000 in that asset account. Small businesses need backup capital, but Obama is going to tax that to at the end of the year.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by tlmorg02 View Post
    They have low worth though it seems. I think the US needs to stick to technology, the tax cuts should be aimed at the biotech industry, America has always been the land of inovation and those jobs be readily available would serve to push better math and science education in this country.
    No, parenting would serve better for math and science education in this country.

    Parenting has reached deplorably pathetic levels in this country. Of course, to many of today's liberals, parenting is an inconveniet cramp to their party lifestyle, and it's the state's job to raise their kids.

  8. #128
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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Erod View Post
    Of course, to many of today's liberals, parenting is an inconveniet cramp to their party lifestyle, and it's the state's job to raise their kids.
    Hyperbole | Define Hyperbole at Dictionary.com

    –noun Rhetoric .
    1. obvious and intentional exaggeration.
    2. an extravagant statement or figure of speech not intended to be taken literally, as “to wait an eternity.”

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Barbbtx View Post

    Obama and this adminstration does nothing to encourage growth. Everthing they've put forth so far has killed jobs. I think that might be the goal.
    That's a conspiracy theory with some substance, Barbbtx. It's difficult to see how the economy could be more mismanaged unless it was deliberate. As well. he seems to be deliberately encouraging class warfare, apparently not recognizing the fact that he should be president to ALL Americans and not pit them against each other.

    There must be a great deal of buyer's remorse by those who actually voted for this guy.

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    Re: Obama will not extend Bush tax cuts to wealthy

    Quote Originally Posted by Erod View Post
    No, parenting would serve better for math and science education in this country.

    Parenting has reached deplorably pathetic levels in this country. Of course, to many of today's liberals, parenting is an inconveniet cramp to their party lifestyle, and it's the state's job to raise their kids.
    Listen, I was not advocating for the state raising of children. Please leave your conservative mantra aside and discuss issues and ideas, not simply negative cannotations for those who do not believe as you do. My reference was to that of education funding and the need to focus more on science and mathmatical training in a nation that is falling ever behind in the said areas.

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