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Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cliff

Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

Mycroft said:
Your analogy would be appropriate if the only thing he is proposing is to cut tax rates. He isn't.

Find a more suitable analogy, please.
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The problem is he won't be specific on how he's going to make this revenue neutral. Even if he does it still makes no sense. Now you are taking a part time job to make up for the hours you asked your boss to cut from your regular schedule. It would appear the wealthy aren't concerned enough about the debt to tighten their belts for even a few years and give up what were supposed to be temporary tax cuts to begin with. Somehow when the poor latch onto something that is meant to be temporary and assume it is permanent it's called an entitlement mentality but not when the affluent follow the same pattern.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

I'm ok with my rates going up as long as we return to the 1990s rates across the board. we have to get our deficits under control, we can't get there by cutting alone, and the Bush tax cuts simply haven't delivered for the middle class.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

Loki97 said:
The problem is he won't be specific on how he's going to make this revenue neutral. Even if he does it still makes no sense. Now you are taking a part time job to make up for the hours you asked your boss to cut from your regular schedule. It would appear the wealthy aren't concerned enough about the debt to tighten their belts for even a few years and give up what were supposed to be temporary tax cuts to begin with. Somehow when the poor latch onto something that is meant to be temporary and assume it is permanent it's called an entitlement mentality but not when the affluent follow the same pattern.
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Oh...now you are mentioning temporary tax cuts and whether they should end for the rich. So tell me, do you think they should end for everyone else, as well? Or do you now call these temporary tax cuts for them an entitlement if they are made permanent?

Myself...I think the Bush tax cuts have been around so long we might as well make the whole thing permanent and start from there with who gets their taxes raised or lowered. Just seems the honest thing to do.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

Mycroft said:
Yep...we don't have any need to stop spending more than a trillion dollars a year that we don't have. Let's just raise taxes on those earning more than $40K (you know...the rich)
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Correct, and once the rich start paying for the MIC, instead of profiting from it, then spending will be cut on Corp welfare and useless MIC. ;-)
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

The Prof said:
Buffett Rule would barely dent debt - CNN.com

Obama: Raise Capital Gains Tax Even if Less Revenue - YouTube
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The very and mega rich make $3.125 T per year. (over $200k)

Tax them 80% average (like France) means $2.5T per year ending the deficit, and paying off debt in 5-10 year........ so much for your "its useless t otax the rich" lies.

Dividends and CEO's will continue t o be paid, so there will be no reduction in taxes......
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

274ina said:
Correct, and once the rich start paying for the MIC, instead of profiting from it, then spending will be cut on Corp welfare and useless MIC. ;-)
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Okay...I guess my attempt at sarcasm and irony went right over your head. No problem, this is the Internet after all. But...can you tell me what you mean by "MIC"? I've never seen that before.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

274ina said:
The very and mega rich make $3.125 T per year. (over $200k)

Tax them 80% average (like France) means $2.5T per year ending the deficit, and paying off debt in 5-10 year........ so much for your "its useless t otax the rich" lies.

Dividends and CEO's will continue t o be paid, so there will be no reduction in taxes......
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Now sure where you get your numbers...they really don't sound right. But hey, it doesn't really matter to me given your alteration of definitions. I mean, those making $40K are now "rich" and those making $200k are now "very rich" (not sure where you draw the line for the "mega rich").

To be sure, now, it's all relative. Compared to someone living in a third world country and making $4 a day, even our poor would be considered "mega rich".
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

imagep said:
Finally, you have contributed to this forum. Good job, keep it up.
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I guess if your opinion mattered, that would put me one up on you.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

What comes as no surprise but I still find angering me is all the articles I have read state that congress is looking to postpone any significant cuts down the road. Some have stated that the goal they are looking toward is around 4T over 10 years in government cuts but those cuts will not take affect immediately but instead start years from now. This ladies and gentlemen is exactly the mindset that has gotten us into the situation we are in. They will continue to kick the can down the road while hoping we lose focus so they can continue to overspend on projects they support. In 10 years they may (by a miracle) cut some spending but in the meantime they will have added on 5x more spending during that time. It is enough to make a grown man scream in frustration. Luckily I am still growing! (outward).
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

We never a presidential election where the media purposely chose a candidate and suppressed information that did not look good for Obama. That is why the left is misinformed. I've seen many post where there is facts out there that they actually have no clue what you are talking about.

The media is selecting our president.

 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

Mycroft said:
Now sure where you get your numbers...they really don't sound right. But hey, it doesn't really matter to me given your alteration of definitions. I mean, those making $40K are now "rich" and those making $200k are now "very rich" (not sure where you draw the line for the "mega rich").

To be sure, now, it's all relative. Compared to someone living in a third world country and making $4 a day, even our poor would be considered "mega rich".
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MIC is military Industrial Complex

It is IRS figures. ..

And majority of USA makes min wage to $15hr so that makes them all rich.
My Mega rich is top 400 people. Average income $365 mill per year.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

The Prof said:
France's proposed tax hikes spark 'exodus' of wealthy - Telegraph

France Entrepreneurs Flee From Hollande Wealth Rejection - Bloomberg

Old Money, New Money Flee France and Its Wealth Tax - Washington Post

build a wall

cuz if you allow free people to flee:

Calif. tax revenue down $539M in July | abc
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They can leave USA all they want. They STILL must pay USA taxes. USA taxes are based on citizenship, not location. And look up 877A taxes.........LOL
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

274ina said:
MIC is military Industrial Complex

It is IRS figures. ..

And majority of USA makes min wage to $15hr so that makes them all rich.
My Mega rich is top 400 people. Average income $365 mill per year.
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Thanks about the "MIC".

So...minimum wage to $15 an hour is rich.

Somehow, I don't think anyone earning that much would consider themselves rich...but you are welcome to your opinion.

Just out of curiosity, are you rich, very rich or mega-rich. By your standards, I'm rich.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

Mycroft said:
Thanks about the "MIC".

So...minimum wage to $15 an hour is rich.

Somehow, I don't think anyone earning that much would consider themselves rich...but you are welcome to your opinion.

Just out of curiosity, are you rich, very rich or mega-rich. By your standards, I'mall over $40k compared to min to $15k rich.
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"Them all" means
all over $40k compared to min to $15k are rich
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

274ina said:
"Them all" means
all over $40k compared to min to $15k are rich
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Regardless, I doubt anyone earning $40K would consider themselves rich either.
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

One of the things that the Dems are the parasiters ignore is that Obama wants to increase the tax rate on dividends-earnings which are already taxed heavily at the corporate level-from 15% (highest bracket tax payers) to over 40% for the same people. Thus if you are retired living off of your 45 or so years of investment, your tax could increase almost THREE TIMES
 
Re: Report: 90% Of Americans Face Higher Taxes If Congress Fails To Act On Fiscal Cli

TurtleDude said:
One of the things that the Dems are the parasiters ignore is that Obama wants to increase the tax rate on dividends-earnings which are already taxed heavily at the corporate level-from 15% (highest bracket tax payers) to over 40% for the same people. Thus if you are retired living off of your 45 or so years of investment, your tax could increase almost THREE TIMES
Click to expand...

Imagine trying to pay for you Medicare supplement plan with less income. I know my parent pay a hell of a lot more for their supplement than the Medicare part. Medicare covers 80% and their supplement 20%, you should see the bill for that 20%.
 
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