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Thread: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

  1. #121
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by independent_thinker2002 View Post
    That makes no sense. Government regulation has nothing to do with people wanting or needing widgets.
    The entire argument from the left is illogical. For some reason the govt. has to fund tax cuts which allow people to keep more of what they earn but not fund unemployment payments that have just been expanded 13 months. You don't see a problem with that argument? People keeping more of what they earn = govt. expense? Expanding taxpayer payments to the unemployed good.

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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by independent_thinker2002 View Post
    Maybe they shouldn't file personally then. I'm not even sure why a business owner would. Can you explain it to me?
    One reason to file under an s-corp is to avoid paying self employment taxes, as you would have to do with a c-corp. However, with an s-corp, every dollar that leaves the business, that isn't a direct business expense, has to have payroll taxes taken out of it.

    One of my businesses is an s-corp, but the rest are c-corps. Too much accounting in involved in an s-corp. I try to become uninvolved with payroll taxes, as much as I can. You can drag your feet a little with incomes taxes, but the IRS doesn't **** around with payroll taxes. Fall behind one quarter and you'll find yourself on their radar. Once they have you in their sights, it's damn hard to get them off your back. Especially, now, since they've put ten-thousand new headhunters in the field to track down late taxes. Those bastards will empty out your bank account and don't give a rat's ass if you have to make payroll, or pay equipment notes, or pay rent. They have no compunction, whatsoever, with runnning you out of business, just so they can collect taxes.

    That's just my opinion. Everyone has different views on the subject. A friend of mine swears up-n-down that an s-corp is the only way to fly.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  3. #123
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by Zyphlin View Post
    And here is where we disagree.

    You want a short term fix that history tells us will just perpetuate the issue we have and most likely have little to no longer term affect as we continue to spend ourselves into oblivion.

    I would rather force the governments hand, even if it means a difficult time in the short term, until they have no choice BUT to deal with the hard issues of cuts.

    I'd rather give my kid no dinner for a few days until he finally realizes that if he wants to eat he's going to have to eat his vegetables instead of bribing him with increasingly larger sweets every few meals which will end up being worse for him in the long run.

    The Government will never stop wasting and abusing our money until they are forced to, and part of that is not giving them anymore. The bull**** guilt game of "its going to cause debt" doesn't work because logic and history dictates if we give them more money...they're STILL going to cause debt because they ALWAYS spend everything they get, if not MORE than what we get. So it comes down to give them more of our money and watch them run a bad deficit or give them less of our money and watch them run a bad deficit. Frankly, I'll take the latter.
    I understand what you are saying. I think in the long run, you will lose out. Once you get done repairing the front end of your car because a giant pothole destroyed your wheel assembly and you get done paying the deductable because your car got stolen, I think you'll find that a small increase in taxes will be the better deal. This is of course assuming that you make $250,000+. Road repairs, police coverage, and housing criminals aren't free. Eucation isn't either. Cuts to education also have serious long term effects.

    This is where the bigger problem is. What are we going to cut? The right says domestic individual welfare. The left says the military and corporate welfare. Meanwhile, 2% of the population is controlling the issue of revenue. Seriously, we need to cut spending and increase revenue. You can't just do one of these things to reduce the deficit. We haven't ALWAYS run a deficit. As long as people get the new community center or whatever in their hometown, they won't hold the politicians accountable. This explains the poor approval rating of Congress yet having an astronomical recitivism rate.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



  4. #124
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by Conservative View Post
    So because the govt. won't stop spending you want to give them more if indeed raising taxes will do that? Again, that is illogical.
    No, spending needs to be cut too. Where to cut is the problem.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



  5. #125
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by independent_thinker2002 View Post
    That makes no sense. Government regulation has nothing to do with people wanting or needing widgets.
    It makes perfect sense.

    How many oilfield jobs has the government killed this year and how many prospective oilfield jobs has the government killed in the future with the drilling moratoiums? All that equates to tax revenue that won't be paid into the government. Does the old saying, "shooting yourself in the foot", ring a bell, right about now? Noticed the gas prices, lately? How are higher fuel prices good for the economy and therefore, by default, revenue generation?

    How many layoffs has the tobacco industry experienced? There's a prime example of the government's regulations effecting the demand for a product. A know a guy that owns a cigar shop. He told me that roll-your-own cigarette tobacco went from $5 a bag, to $20 a bag. Demand is obviously going to go down; effecting the people that grow the tobacco, the people who produce the packages, the people who wholesale the tobacco and the people who retail the tobacco.

    It boils down to this: don't kill jobs, then bitch because there's not enough tax revenue. Anyone that can't see a reduction in tax revenue, because of job killing governmental regulations, is far too stupid to hold public office.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  6. #126
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by Conservative View Post
    The entire argument from the left is illogical. For some reason the govt. has to fund tax cuts which allow people to keep more of what they earn but not fund unemployment payments that have just been expanded 13 months. You don't see a problem with that argument? People keeping more of what they earn = govt. expense? Expanding taxpayer payments to the unemployed good.
    That's not just from the left. It appears that the right's leadership has agreed to this as well.

    Studies have shown that unemployment benefits are more stimulative that tax cuts for the wealthy.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



  7. #127
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by independent_thinker2002 View Post
    That's not just from the left. It appears that the right's leadership has agreed to this as well.

    Studies have shown that unemployment benefits are more stimulative that tax cuts for the wealthy.
    Unemployment creats jobs?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

  8. #128
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by apdst View Post
    It makes perfect sense.

    How many oilfield jobs has the government killed this year and how many prospective oilfield jobs has the government killed in the future with the drilling moratoiums? All that equates to tax revenue that won't be paid into the government. Does the old saying, "shooting yourself in the foot", ring a bell, right about now? Noticed the gas prices, lately? How are higher fuel prices good for the economy and therefore, by default, revenue generation?

    How many layoffs has the tobacco industry experienced? There's a prime example of the government's regulations effecting the demand for a product. A know a guy that owns a cigar shop. He told me that roll-your-own cigarette tobacco went from $5 a bag, to $20 a bag. Demand is obviously going to go down; effecting the people that grow the tobacco, the people who produce the packages, the people who wholesale the tobacco and the people who retail the tobacco.

    It boils down to this: don't kill jobs, then bitch because there's not enough tax revenue. Anyone that can't see a reduction in tax revenue, because of job killing governmental regulations, is far too stupid to hold public office.
    I have to ask this. Do you own a gas station?

    It's obvious why the deep water oil drilling moratorium was instilled.

    As far as tobacco goes, they still make cigarettes. Also, pipe tobacco isn't taxed the same. I know a guy who rolls that up and smokes it for far cheaper.

    Using your logic, they should legalize crack because that would create taxable jobs.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



  9. #129
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by apdst View Post
    Unemployment creats jobs?
    People spend that unemployment check directly into the economy. It doesn't sit in an investment portfolio. Without that check, there is less demand in the economy.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



  10. #130
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    Re: Obama Announces 'Framework' for Deal With Congress to Extend Bush-Era Tax Cuts

    Quote Originally Posted by The Prof View Post
    obama on THIS tax deal---"it's the right thing to do"

    "it's the right thing to do for jobs, for the economy, for the middle class, for business"

    he's still president, y'know

    stay up
    It's the ONLY thing he's done in office to promote private sector jobs and all he gets is grief from his base.
    So much hatred for the rich, they are blind to the good for the country.
    Catawa is my favorite bleeding heart liberal.
    1/27/12

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