View Poll Results: w will this budget affect the 2012 election?

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  • It will help Obama/Democrats

    16 39.02%
  • It will help Republicans

    8 19.51%
  • Don't know

    10 24.39%
  • No change

    7 17.07%
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Thread: The Ryan/Republican Budget - 2012 elections

  1. #111
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Harry Guerrilla View Post
    The AMT removal does not benefit only the rich, it hits middle class people to.
    It was never indexed for inflation, so it was originally meant for the rich but it eventually started hitting middle class people because of the lack of the inflationary adjustments.

    Corporate taxation represents double taxation on those who invest with a company.
    Corporation pays taxes on it's profits and then the investor pays taxes on their profits after the corporation.
    A very small amount.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  2. #112
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Redress View Post
    A very small amount.
    Errr no.

    "The AMT exemption for 2009 is $70,950 for joint returns ($35,475 for married couples filing separately) and $46,700 on single returns. That is an increase over 2008. That means if your taxable income (plus some adjustments) is less than these amounts, you're not subject to the tax."

    Your tax return, the IRS and the alternative minimum tax (AMT) - MSN Money
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  3. #113
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Redress View Post
    Barb, that is an opinion piece. I quite specifically listed why it is in fact a tax cut for the wealthy. Note my specifics and actually linking to Ryan's plan.
    Its an indisputable fact that Ryans plan cuts the tax rate on the wealthy. This just cant be honestly argued against and you're correct to say it.

    Whether or not it significantly benefits the rich more than the poor or the middle class with regards to taxes that are actually paid, or if this will raise or lower the amount of taxes paid rather than the base rate, however is far from an open and shut case. There is a legitimate argument about those things.

    So saying Ryans plan lowers the tax rate on the wealthy is correct. Suggesting that it decreases the taxes the wealthy will ultimately pay, or far more significantly benefits the rich when it comes to taxes is a far more questionable claim.

  4. #114
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Harry Guerrilla View Post
    The AMT removal does not benefit only the rich, it hits middle class people to.
    It was never indexed for inflation, so it was originally meant for the rich but it eventually started hitting middle class people because of the lack of the inflationary adjustments.

    Corporate taxation represents double taxation on those who invest with a company.
    Corporation pays taxes on it's profits and then the investor pays taxes on their profits after the corporation.
    Corporations pay no taxs as it is GE proves that

  5. #115
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Harry Guerrilla View Post
    Errr no.

    "The AMT exemption for 2009 is $70,950 for joint returns ($35,475 for married couples filing separately) and $46,700 on single returns. That is an increase over 2008. That means if your taxable income (plus some adjustments) is less than these amounts, you're not subject to the tax."

    Your tax return, the IRS and the alternative minimum tax (AMT) - MSN Money
    we make a lot more than 70k and have never had to pay amt.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  6. #116
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by lpast View Post
    Corporations pay no taxs as it is GE proves that
    You can thank all the awesomeness that is green energy credits, early write offs and other such things.
    GE has been a pet of the state for some time now.

    Not all corporations get to pay 0 taxes.
    Last edited by Harry Guerrilla; 04-19-11 at 02:51 PM.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  7. #117
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by liblady View Post
    we make a lot more than 70k and have never had to pay amt.
    Is your taxable income after deductions and itemization 70k?
    If not that may explain it, otherwise I don't know.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

  8. #118
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Harry Guerrilla View Post
    Errr no.

    "The AMT exemption for 2009 is $70,950 for joint returns ($35,475 for married couples filing separately) and $46,700 on single returns. That is an increase over 2008. That means if your taxable income (plus some adjustments) is less than these amounts, you're not subject to the tax."

    Your tax return, the IRS and the alternative minimum tax (AMT) - MSN Money
    What you are not including is the exemption, which is phased out starting at 112.5k for a single person.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

  9. #119
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Harry Guerrilla View Post
    Is your taxable income after deductions and itemization 70k?
    If not that may explain it, otherwise I don't know.
    yes, it is.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


  10. #120
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    Re: The Ryan/Republican Budget - 2012 elections

    Quote Originally Posted by Redress View Post
    What you are not including is the exemption, which is phased out starting at 112.5k for a single person.
    AMT hits some middle class people, admitting that it's the upper end of the middle class but still.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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