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CNN Poll: Majority want tax increase for wealthy and deep spending cuts
- Thread starter Free Thinker
- Start date
Quote from wjk:
No, but I do pay more FICA at that level. That fact alone means I pay more becasue I am self empolyed. Of course, you knew all that when you responded to my post. You are playing games with the wording of my post while effectively avoiding the issue.
You obviously prefer class warfare, as do all your progressive brethren.
Since you are an expert, do you think it is fair for me to pay more being self employed?
first of all i was self employed in several business my whole working life. i know a little about self employment taxes. in fact you dont pay more. the employee pays the same as you do but in that case half is contributed by the employer as employee compensation.
Quote from Free Thinker:
first of all i was self employed in several business my whole working life. i know a little about self employment taxes. in fact you dont pay more. the employee pays the same as you do but in that case half is contributed by the employer as employee compensation.
I have no employees. I'm paying both the employee and employer portion of the FICA (SECA?) I did, and occasionally use sub-contractors, however. They, like myself, are self employed. I have been self employed for 20 years.
The level I must file at is actually 400. The level that the average earner must file is 5700 (under 65).
Quote from wjk:
I have no employees. I did use sub-contractors, however.
The level I must file at is actually 400. The level that the average earner must file is 5700 (under 65).
what about the tax perks you get as a self employed person? deductions for vehicles,home office, tools,phone,insurance. small business in america has a nice tax situation. there are so many ways to shelter income.
i used to be able to buy equiptment for 100k depreciate it to 0 in 3 years and it was still worth 50k. not bad.
Quote from AAAintheBeltway:
Various points.
1. Obama-Boehner. Supposedly, Boehner had agreed to a grand bargain that included 800 bill in tax increases and 4.5 till in future spending cuts that eveyone knew would never take effect. Obama got some static from the dems and went back and demanded 400 bill more. By that time, Cantor had pointed out to Boehner that he was about to go over the cliff and take the whole party with him. Obama 's inability to close what was a great deal for him probably will cost him a second term. If he had closed the deal, there would have been no downgrade and the media would have begun demanding that obama's bust be added to Mt. Rushmore.
2. Stimulus, etc. The guy who runs PIMCO, mohamed El Erain, has made this point a few times. We are talking about counter cyclical measures that would be appropriate if we were in a typical cyclical downturn. Unfortuantely, we are not. We are in a structural downturn, brought on by the need to liquidate vast quantities of bad debt run up in the past decades. Running up even more debt seems an odd way to address that issue.
3. Jobs, etc. Obama has been an absolute job killer. Virtually every regulatory or policy measure he has introduced has either killed jobs outright, made employers nervous to hire or invest here or so raised the cost of doing business that growth is impossible. The list is long, eg obamacare, oil drilling moratorium, EPA attack on coal, an NLRB run by far left union thugs, uncertainty in financial regulation, misguided financial regulation, attacking states over illegal immigration, demagoguery over debt ceiling and irresponsible threats of default, etc etc.
Most telling perhaps, the head of his Jobs Commission Jeff Immelt of GE, moved a high tech MRI plant to China. Talk about tone deaf and biting the hand that feeds you.
its funny that people are even arguing more spending was going to fix a spending problem.
Now unfortunately, we missed the opportunity to have a quick reset and we are at serious risk of having a long period of rising costs and slowing growth with very high unemployment.
You can screw with the invisible hand of economics forever.
Pelosi announced her selections for the "SUPER DUPER FIX ALL THINGS COMMITTEE" and in the announcement stated:
" ...will focus on economic growth & job creation--which reduces deficit."
Sounds like she is not even considering cutting much of the useless spending that exists and is hoping growth will solve the problem. Sorry Nancy, I don't think that will work, and it sounds like she did not read the bill she helped pass.
Seneca
" ...will focus on economic growth & job creation--which reduces deficit."
Sounds like she is not even considering cutting much of the useless spending that exists and is hoping growth will solve the problem. Sorry Nancy, I don't think that will work, and it sounds like she did not read the bill she helped pass.
Seneca
Quote from Free Thinker:
what about the tax perks you get as a self employed person? deductions for vehicles,home office, tools,phone,insurance. small business in america has a nice tax situation.
i used to be able to buy equiptment for 100k depreciate it to 0 in 3 years and it was still worth 50k. not bad.
There are times the deductions were nice, but to be honest with you, I felt there was a pretty good chunk of change going out for taxes even then. In addition, I don't always want to spend money to get deductions if I don't need the gear.
You make some good points, free thinker. I would still prefer to have a flat tax across the board, and if we must have a graduated tax, letâs have it evenly charged regardless of how we earn. Would you agree on that?
Quote from Lucrum:
Which is why social costs need to be cut as well dumb ass.
He just doesn't get it, Lukie. Liberals are so overwhelmed with their agenda that they can't understand that if you only have one dollar, you can only spend one dollar.
At the rate we're going though, maybe not too much longer before they reconsider their version of math.
Quote from seneca_roman:
Pelosi announced her selections for the "SUPER DUPER FIX ALL THINGS COMMITTEE" and in the announcement stated:
" ...will focus on economic growth & job creation--which reduces deficit."
Sounds like she is not even considering cutting much of the useless spending that exists and is hoping growth will solve the problem. Sorry Nancy, I don't think that will work, and it sounds like she did not read the bill she helped pass.
Seneca
She may be assuming a strong linkage between economic growth and job creation when there isn't one, not anymore.