Barack Obama Wants Your Money As You Tumble From The Fiscal Cliff

[Free Thinker]

Quote from trefoil:

I have no doubt you're good at what you do. I notice that nowhere in your proposals do you mention bringing back the centerpiece of the 1986 tax reform compromise, making cap gains and ordinary income equal as far as tax rates. Without that equality, a thousand loopholes get spawned. Instead, you laud Romney for excluding investment income from tax. No wonder, as that would spawn ten thousand loopholes that would be very nice indeed, for you.
ALL income, whether salary, cap gains, dividends, or interest, should be taxed at the same rate. After that we can then decide on the rates, which ideally should, once again, be after the 1986 template: an exclusion of some amount for the first piece, a lower rate for the next piece, and a higher rate for the last piece.
And that should be it. You'd have to find another line of work.

nice to see a little sanity left on et. you are exactly correct. all income should be taxed at the same rate.
then romney wouldnt have had to go to such lengths to pay between 0-13% taxes.

 

[oldtime]

Quote from Free Thinker:

who forced it to happen? republicans. they were willing to cause a financial crash refusing to raise the debt limit unless they got their way.
there was only one grownup at the table. grownups know the us form of government has to have compromise.

sorry to hear the price of your brain has gone negative. When you finally figure out that deficit spending is exactly the same as a tax get back to us. Nothing, no idea you have can be accomplished whitout taxing and spending. That's all you know. You are worse than a wife who doesn't understand how hard her husband has to work just to pay the bills, and can't understand why she doesn't have more. And that just about sums it up. You aint a man, you're just a crying little woman who wants more and more and never understands where it comes from. If and when ever you can come up with any idea that doesn't require more tax and spending (which now are one and the same) please let me know. But I doubt your depraved mind can think of anything outside of getting what somebody else already has. You have nothing to offer the world, all you know is how to take from the world.

There is no curing people like you. All we can do is hope you die and don't reproduce.

 

[MKTrader]

Quote from RenkoTrades:

The federal government needs to be gutted at every level before anything else (Dept of Edu slashed, IRS cut in half just as a start, corrupted FDA completely revamped, HEW spending hacked, DoD 20% immediate cuts, DHS gone, TSA gone, and on and on).

America does not need one single tax increase, we need to end all the wars and Obama drone killings around the world. It is time to throw all of the corrupt scum out on their ass and start getting sensible and effective leaders in place. One of the reasons why I am voting for Gary Johnson in the elections, I have the guts to say stop the insanity.

+1. Reagan's big mistake was not to cut spending along with taxes. Carter's Departments of Energy and Education (which do nothing but employ worthless bureaucrats) should've been the first to go.

 

[Free Thinker]

Quote from oldtime:

sorry to hear the price of your brain has gone negative. When you finally figure out that deficit spending is exactly the same as a tax get back to us.

you aint to bright either. deficit spending is stimulative. not a tax.
geeze sometimes if feel like a teacher with a classroom full of 20 year old fifth graders.
speaking of thinking. arent you the guy who thinkes he trades better while high? how stupid do you have to be.....

 

[Robert A. Green]

Quote from trefoil:

I have no doubt you're good at what you do. I notice that nowhere in your proposals do you mention bringing back the centerpiece of the 1986 tax reform compromise, making cap gains and ordinary income equal as far as tax rates. Without that equality, a thousand loopholes get spawned. Instead, you laud Romney for excluding investment income from tax. No wonder, as that would spawn ten thousand loopholes that would be very nice indeed, for you.
ALL income, whether salary, cap gains, dividends, or interest, should be taxed at the same rate. After that we can then decide on the rates, which ideally should, once again, be after the 1986 template: an exclusion of some amount for the first piece, a lower rate for the next piece, and a higher rate for the last piece.
And that should be it. You'd have to find another line of work.

Your still reading me wrong. I wrote in other blogs that I supported Bowles Simpson and like one rate for all income, making things simpler and doing away with lots of excess baggage in the code. I liked the Bowles Simpson top rate of 23% and pointed out that is like the futures 60/40 rate now. I'm fine with flattening the code, which means no itemized deductions. Business traders deduct their expenses directly from gross income. I always thought a big mortgage was like another risky margin loan for traders.

Two reasons why Congress won't make this deal. Obama pointed out that the middle class needs these itemized deductions, otherwise it's a tax hike on them. And, Democrats will never lower the rate to 23%. If the rate is closer to 30%, Republicans won't give up the lower capital gains and qualifying dividends rate.

Don't worry so much about my line of work. We also do audits of hedge funds and that business is very different.

 

[MKTrader]

Quote from logic_man:

Ultimately, you guys are all missing the big picture, which is that we need to find a way to divide the country into two separate geographic entities which reflect the two political ideologies.

Then, Obamabots can worship him forever under a Constitution which allows him to be dictator for life and the rest of us can be rid of your parasitical asses forever.

If I may be so bold, I suggest you choose as the name of your new country "Zimbabwe 2: Electric Boogaloo". I'm sure Obama will look very handsome on your trillion-dollar bills.

Yeah, but they'll never do that. The producers (even blue collar types) will remain in the Red States. Those content to live on SSI, faux disability, food stamps, etc. will flood the Blue States. How long will Oprah, Gates, Buffet and most of Hollywood be willing to fund the parasites? My guess is that they'll run to Switzerland or Belize before it's over.

And how many businesses would remain in places where regulations, taxes, unions and violent flash mobs run amok?

It will never happen. Other than a few hippies in Vermont, no one on the Left wants a peaceful secession.

 

[Aok]

Quote from Free Thinker:

nice to see a little sanity left on et. you are exactly correct. all income should be taxed at the same rate.
then romney wouldnt have had to go to such lengths to pay between 0-13% taxes.

But what is that rate? No one ever has the balls to stipulate.

I give credit to Larry King and Michael Moore. At least they have the stones to acknowledge their nascent Marxism when they both suggest a Federal Marginal tax rate of 90%.

Can we agree that 50.1% is not taxation but rather confiscation?

I would trade a flat tax on ALL income for an end to loopholes whereby a General Electric can not only pay a 0% rate on 14 billion in worldwide profits but manage to get a tax return bailout/stipend as well. Govt approved to boot. Since it's the best govt money can buy why not.

But not a flat rate that exceeds the sweat of my brow becoming my sweat becoming sweet when it becomes someone elses tasty bread.

Loopholes are the only defense I have against B.0. and Gov Moonbeam. Until they take them away for me but still employ themselves. Lol

 

[Mercor]

Quote from Robert A. Green:


If Obama wins, Republicans should consider accelerating taxable income into 2012, to get lower tax rates while they still can.

Do you think with the dividend and capital gains tax going up it will cause lots of stock tax selling in the 4th quarter of 2012?

 

[logic_man]

Quote from Free Thinker:

you aint too bright. the debt ceiling was about money that had already been spent. republicans wanted to refuse to pay the credit card bill unless obama gave them an extension of tax cuts for the rich. apples and oranges.

Yeah, that's just 100% wrong.

The debt ceiling needed to be raised in order to borrow additional money. The debt that had already accrued could have been serviced with future tax revenues, provided additional borrowing was not made.

Are you an idiot in real-life or do you just play one on this site? If it's the latter, bravo, it's a real tour-de-force performance.

 

[oldtime]

Quote from MKTrader:

+1. Reagan's big mistake was not to cut spending along with taxes. Carter's Departments of Energy and Education (which do nothing but employ worthless bureaucrats) should've been the first to go.

hey, I know it's a little off topic, but I was educated before they invented the Department of Education, and I have always wondered, just what does the Department of Education do? My kids are pretty smart, but they don't seem any smarter than I was when I was their age. Just wondering what I am getting for my money. Ok, fine, I guess I have a Department of Education. I guess that takes care of that. So what exactly does the Department of Education do? And how did I ever get educated without it? And why aren't my kids smarter than me since they had it?