Disregard my post above (#207). I tried to edit it, but didn't quite make the timeline. The following is what I wanted to post (I'll ask the mods to clean things up momentarily):
Which, "loopholes", would those be? I personally don't want any of my deductions taken away from me. I can't afford to pay anymore taxes.
I made 40 g's last year. I don't qualify for the earned income credit, because I'm self employed. I had to cough up 7 grand in taxes and now you think I should pay more goddamned taxes? I'll fight tooth-n-nail any regime that thinks that that's not enough. They can kiss my ass, in fact.
As I've said to you before, settle down small business owner. You got tax cuts from the Stimulus (or should have anyway because there were plenty of them for small business owners), and the tax cuts - revenue raisers - the President has proposed would NOT affect you since you're neither a big corporation, investor or hedge fund owner. So, your $40K/annual earnings/profit would NOT be affected. You can settle down now.
That's not true. Obama's been talking about raising the marginal rate since before he got elected.
Yes, for people making +$250K/annually. Since you've stated your annual earnings from your business don't amount to that, this would not apply to you now, would it? NEXT!
Sounds like Obama is just trying to **** the people, however he can.
Is that right? So, tell me then who exactly caused the housing bubble to burst? Was it the President or was it the greed from morgtage companies, investment companies, insurance giants like AIG or commercial banks who made loans they knew people didn't qualify for? Did the so-called erratic and irresponsible spending just suddenly begin on January 20, 2009 or has it been atleast a decade's long odyssey?
Truth is, so many people are against what the President has proposed because they've become convinced that the spending is strictly a Democrat thing and that all this President wants is a "blank check" to do whatever he wants, and that he's afraid to take on entitlement spending or changes in the tax code. But those folks haven't been listening. They hear what they want to hear and much of that "partialled" and highly opinionated news comes from the likes of Hannity, Levin and Limbaugh.
STOP LISTENING TO THE GARBAGE AND START GETTING THE FACTS!
Go to sources outside the mainstream including government sites, such as house.gov or senate.gov, and read the proposed bills yourself, if posted. Or you can go to govtracks.org and search for legislation. Read news articles from both sides of the political divide; I read news from Fox just as much as I do CNN, but I compare what's said to other news sources, i.e., NYTimes, WashtingtonPost/Times, USAToday and others. I also review various blogs just to get a better feel for what's going on outside of the DC :spin: cycle. Above all, I read ALOT as my wife, BamaBrat, can attest to.
I don't base my opinion on one or two snippets from a single source or a select group on one side of the political divide. I get information for a vast assortment of resources. So, when I come here and post, I'd like to believe I'm as well informed on an issue as I'm going to be. I may lean Democrat, but I try very hard to see the other side of the ledger as well. I just think that pure Conservatism is wrong because it omits so many from being able to participate in achieving that American dream...whatever it may mean to them. American history tells us this country was never founded on such rigid ideology.
Stop holding up drilling permits. A recent study said that 230,000+ jobs would be created, if the permitting process wasn't all mucked up by the government.
You do realize that the permitting process was a joke, right? All those oil companies using the same blanket template to prepare their contingency plans using outdated information? If anything, the President has done things to improve the process. The 6-month moritorium was intended to fix that problem. Since being lifted, oil production has increased and oil companies have begun to submit real plans with accurate, up-to-date information. If all you want is a continuation of the wrecklessness that was the BP oil spill, then you keep right on pushing for the same irresponsible practises that caused one of our nation's coastlines to halt their way of life.
Stop over-regulating the coal industry. Obama has already promised to put them out of business.
I asked the question just yesterday what led to the housing bubble crisis and every other deep recession/depression this country has experienced. Unfortunately, nobody dared to answer. So, I'll tell you: DEREGULATION!
The Great Depression - no rules to govern the banks. Once the Glass–Steagall Act was passed in 1933, it kept a lid on improper commercial banking practises for 66 years!
The Savings and Loan crisis of the 80' - deregulation brought on by the Tax Reform Act of 1986.
The housing bubble of 2008 - again, deregulation of Glass-Steagall which removed the blocks that kept mortgage companies, investment companies, insurance companies and commercial banks from conducting such financial practises that one could hardly be distingushed from the other.
Stop trying to turn our food supply into our fuel supply. Ethanol subsidies have driven up the price of corn and thereby, the price of beef, pork and chicken.
Hence, the reason those such subsidies have been removed. NEXT!
Stop with over-regulation by the EPA.
If Congress would act accordingly, this wouldn't be a problem.
Basically, Obama should halt 99% of his agenda. It's what's cocking things up.
No, what's cocking things up is Wall Street now has to adjust to doing things the right way instead of "the greedy way". And just as after the Great Depression began and new regulations were implemented, it's going to take an adjustment period for the markets to catch-up. (It also doesn't help that instead of lending again, banks and large corporate investors are accumulating wealth to pad their financial portfolios at present.)
A little free advice: you can't knowingly kill jobs, then bitch that you're not getting enough tax revenue.
Had big businesses acted with a conscience we wouldn't be in this position!! Think it through, man!
I'm a small business owner.
Yes, we know...
Yes, I work in the oilfield--an oil company shill according to some on this forum. Another hint: If I go out of business, and get a job where I do qualify for the earned income credit, I'll never pay taxes, again. Tell me who wins in that scenario.
That same question is now being asked by the millions of hard working individuals who lost their jobs due to no fault of their own either from the wrecklessness of individuals businesses, irresponsible actions by large investment corporations or politicians (Republican leadership) who believed it best to balance their state budgets on the backs of public employees vice taking the hard hits and cutting spending on unnecessary programs within their respective states. Put simply: It's far easier to cut payroll and work political angles (re: gut public education, retirement and health care plans) than it is to put pressure on businesses to do the right thing or take away worthless programs because states don't want to give up federal dollars.
Ya'll Liberals are always harping about raising taxes and closing, "loopholes", but I seriously doubt any of you have the first damn clue how it will effect real people.
REAL PEOPLE ARE SUFFERRING EVERY DAMN DAY based on the foolishness by Republicans over the last 30 years!!!! I don't live in a bubble. I live in the world same as you. I just take a different point of view because unlike some I do try very hard to stay informed on both sides of the political divide. I don't have a problem with people making money. I do, however, have a problem with people who have money acting irresponsibly.