Quote from canyonman00:
For now I'll stop with this one. I disagree, Barak wanted to add into the current crisis coverage monies for ACORN. That's the community organizing group that he worked for. And we're not talking about a few $100k either. That organization is clearly wasteful spending by any measure.
Quote from canyonman00:
Hmm, you sound as though you understand it fairly well. Ok, what is the difference in the Barak tax burden on a family making $125k verses what they pay now?
Under Obama, they will pay approx. $2,204 less than they do now.
Further, what is the financial burden that will impact on a couple making say $300k who's lifestyle (i.e., savings, mortgage, car note, etc.) was based upon the current tax obligation.
Under obama this couple will notice no change at all in their taxes.
Now to you $300k may sound like a lot. But the near westside of Chicago contains several homes in the $1.25m range who's owners might just fall into an arena of personal concern. If they are now going to be told that between federal, state and Cook County taxes they need to be thinking of paying around 50%, that's gonna' fiscally hurt.
See above.
Quote from jonbig04:
Quote from canyonman00:
Hmm, you sound as though you understand it fairly well. Ok, what is the difference in the Barak tax burden on a family making $125k verses what they pay now?
Under Obama, they will pay approx. $2,204 less than they do now.
Further, what is the financial burden that will impact on a couple making say $300k who's lifestyle (i.e., savings, mortgage, car note, etc.) was based upon the current tax obligation.
Under obama this couple will notice no change at all in their taxes.
Now to you $300k may sound like a lot. But the near westside of Chicago contains several homes in the $1.25m range who's owners might just fall into an arena of personal concern. If they are now going to be told that between federal, state and Cook County taxes they need to be thinking of paying around 50%, that's gonna' fiscally hurt.
See above.
Good! Ok, $2,204 annually. That translates into about $180 a month or another $90 a check based upon the bi-monthly outlay. Cook County property taxes have just been increased. My parents have a modest older suburban Chicago home worth around $180k. Their tax bill just went up $1,600. Were they the couple we were discussing, they'd see about $50 a month here. Oh wait, I forgot. They own two cars that run on gas (LOL!)...
Quote from canyonman00:
This one you'll need to explain. My understanding is that the cutoff is $250k. And what stops Illinois from making up the difference? You see that's still government taxation. And it's pure semantics to say, "Oh, that's not the Fed, it's the state and/or county that's taxing!" In either event, the money has left the taxpayer's hands.