Obamas 250K tax line? protests make no sense?

Quote from hermit:

"Following diplomatic negotiations dating back to 1986 between the three nations, the leaders met in San Antonio, Texas, on December 17, 1992, to sign NAFTA. U.S. President George H. W. Bush, Canadian Prime Minister Brian Mulroney and Mexican President Carlos Salinas, each responsible for spearheading and promoting the agreement, ceremonially signed it. The agreement then needed to be ratified by each nation's legislative or parliamentary branch."
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http://www.historycentral.com/Documents/Clinton/SigningNaFTA.html

Clinton singed it into law in 1993. A decision he now regrets.
 
Quote from Maverick74:

Then why are small businesses hiring all these illegals to work for $10 a day and no bathroom breaks if they are not sensitive to labor costs? Come on, you live in South Dakota, who is doing all the cheap labor on those farms?
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maverick. surely you are not so dense as to not know the answer to that question?

cheap labor has been replaced by huge machinery on the farms around here. a farmer today can handle 10 times the number of acres with no extra labor. that is how technology eliminates the need for labor. tax cuts will not change that. in fact tax cuts like accelerated depreciation make it worse. those cuts go toward productivity enhancements that = less labor.
 
Quote from Free Thinker:

maverick. surely you are not so dense as to not know the answer to that question?

cheap labor has been replaced by huge machinery on the farms around here. a farmer today can handle 10 times the number of acres with no extra labor. that is how technology eliminates the need for labor. tax cuts will not change that. in fact tax cuts like accelerated depreciation make it worse. those cuts go toward productivity enhancements that = less labor.
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All I'm trying to get you to understand is that ALL costs affect small businesses. Large businesses as well for that matter. That means labor costs, taxes and yes I understand very well the effect machinery and technology has had on labor.
 
The effect of raising taxes will be minimal on reducing the deficit. The 2010 CBO tax report showed that in the 10 years since tax rates were lowered, the tax rate reductions accounted for only 14% of the deficit during that period; and the tax increases starting in 2011 would reduce future years' deficits by only about 12% in the next ten years.

Quote from trefoil:

1 - The 250k line, isn't. It's 250k in taxable, not gross. You'd have to be making way over to begin to be affected, assuming you have a decent tax accountant. Therefore, we're not talking an upper-middle income couple with two six-figure jobs. We're still talking, by any reasonable measure, the upper class.
2 - The cuts would still apply, for this person, on all income up to that 250k line. Only (taxable) income OVER that line would be taxed at whatever the new rates are.

In sum, the effect will be minimal for 99 44/100% of the population. For those affected, well, it'll hardly bankrupt them.
It will have an appreciable, and cumulative, effect on reducing the deficit, however.
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My neighbor owns a successful small business with about 60 employees. In the soft economy business has slowed down and he's done his best not to lay off any employees. When the tax increases hit in 2011, he's going to have to lay off two employees so he'll have enough after-tax dollars to make principal payments on his bank loans and pay cash dividends to his preferred shareholders. Most people don't realize that it's after-tax profits that keep small businesses alive. He's already cut his own salary twice, and he says he's not doing it again. I don't blame him. The guy's worked 80 hours a week for over 20 years to build his business.


Quote from Maverick74:

All I'm trying to get you to understand is that ALL costs affect small businesses. Large businesses as well for that matter. That means labor costs, taxes and yes I understand very well the effect machinery and technology has had on labor.
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Quote from hermit:

He signed it, he didn't CREATE it.
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Nonsense. He travelled the country selling it.

You are incapable of honesty.

You must first become honest with yourself before you will be able to be honest with others.
 
What if they raised the line to 100 million?

Keep the bush tax intact up to 100 million dollars.

And add a Sports tax, Which only affects people like Tiger woods etc.. a special 4% extra tax. Yeah it might impact coke sales and the high end prostitution business but very little.
 
Quote from 377OHMS:

Nonsense. He travelled the country selling it.

You are incapable of honesty.

You must first become honest with yourself before you will be able to be honest with others.
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He didn't CREATE it, that was my point and it was proven correct -NAFTA was created before Clinton came into Office.

You are incapable of honesty.

You must first become honest with yourself before you will be able to be honest with others.
 
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