I don't claim to be a big financial, economics know it all (how could anyone, frankly, but the link here is a conservative version of the current presidents tax creation scenario for next year
can anyone that monitors similar information from the liberals post a comparison for us all to learn from?
then my questions would be...how can two such competing views of how economics works, come together to create a better system that benefits all hard working and constitutionally minded Americans?
I think aligning with the Constitution is the answer, and getting rid of a lot of legislation that has helped corruption take over in industry and government, line the pockets of elitists and cause harm to mainstream America.
http://askheritage.org/are-you-ready-fo … 749-260528
Try Citizens for Tax Justice.
End the Bush tax cuts, tax wealth the same as labor, end loop-holes that allow for corporations to pay 0 tax, stop hiding money in off-shore acounts.
In short: Stop trying every manuever they can to avoid paying taxes! They all live here and profit by it......how much frigging money do they need?
If they enjoy being gangsters, why don't they do it the regular way: not white collar crime, in which they get away with murder?
Make the penalties harsher for white collar crime. I mean--you can get 20 yrs for an ounce of crack....what did Abramoff get? Delay? something to consider as well, IMO.
I could agree with most of what you've said here except ending the Bush tax cuts for middle income earners. If that happens I'll pay about $6,000. more a year in taxes. That's a lot of money to me.
Well, actually--Obama doesn't want to end them for the middle class--he wants to end them for the upper classes.....and that is making him an un-American muslim terrorist with the aim of destroying America.
Therein lies the biggest problem, I think. Don't tax me - tax someone else while I enjoy the benefits of those taxes. Someone with more money, someone that smokes or drinks or drives a car. Someone with a house and/or land. Tax the visitor to my city with motel room taxes, rental car taxes and airline taxes. Just don't tax me. It costs too much and I don't want to pay it.
And yes, I'm right in there, too - I can't afford the taxes I'm assessed.
Here is an excellent site "from the left"...with charts, so it's easy to understand!:
http://motherjones.com/politics/2011/04 … arts-graph
"So what do these big moneyed nabobs have to complain about? Why are they whining about reform? And why are they funneling cash to super PACs aimed at bringing down Barack Obama, who many of them supported four years ago?
Because, writes Alec MacGillis in The New Republic -- the President wants to raise their taxes. That’s right -- while ordinary Americans are taxed at a top rate of 35% on their income, Congress allows hedge fund and private equity tycoons to pay only pay 15% of their compensation. The President wants them to pay more; still at a rate below what you might pay, and for that he’s being accused of – hold onto your combat helmets -- “class warfare.” One Wall Street Midas, once an Obama fan, now his foe, told MacGillis that by making the rich a primary target, Obama is “[expletive deleted] on people who are successful.”
And can you believe this? Two years ago, when President Obama first tried to close that gaping loophole in our tax code, Stephen Schwarzman, who runs the Blackstone Group, the world’s largest private equity fund, compared the President’s action to Hitler’s invasion of Poland.
That’s the same Stephen Schwarzman whose agents in 2006 launched a predatory raid on a travel company in Colorado. His fund bought it, laid off 841 employees, and recouped its entire investment in just seven months – one of the quickest returns on capital ever for such a deal."
"compared the President’s action to Hitler’s invasion of Poland." hmmm, that's an odd comparison to make. Wonder if Shwartzman thinks Obama is an American to the "N"th degree too?
big babies who always need their way or else.....laying people off, treating people badly with no conscience....THESE are people we admire??
the excerpt below is from the Patriot Post, one of the many perspectives of the "right".
I say again...until we, as a nation, start looking at each other's perspectives and find mutual understanding and alignment with the Constitution and Bill of Rights...and get this whole tax system/economic system under sensible control, as a nation we are lost to a valid future.
"Would it not be better to simplify the system of taxation rather than to spread it over such a variety of subjects and pass through so many new hands." --Thomas Jefferson
Government & Politics
Election Year Taxes
As we have documented over the years, the Leftmedia are quite adept at using polls to drive public opinion rather than reflect it. The latest such example was a poll on taxes in advance of Income Redistribution Day, but as we shall see, there's more here than meets the eye.
Gallup reports, "As tax filing day looms, Americans fall into two closely matched camps: those who believe the amount they pay in federal income tax is too high (46%) and those who consider it 'about right' (47%). Just 3% consider their taxes too low." It's hardly newsworthy that so few find their taxes to be too low, but for so many to see them as "about right" is interesting. Here's why: Roughly half of Americans don't pay any income taxes at all. It's no coincidence, then, that roughly half of Americans think their tax burden is "about right."
We'll give Gallup one thing: They made clear that Americans had a much more negative view of their taxes prior to the Bush tax cuts. And why wouldn't they? Contrary to media myth, the Bush tax cuts applied to everyone -- not just the wealthy. The top rate went from 39.6 percent to 35 percent, the next tier dropped from 36 to 33, followed by 31 to 28, 28 to 25 and the lowest bracket dropped from 15 percent to 10 percent. For those who appreciate math, the bottom bracket had both the greatest nominal drop -- 5 points -- and the greatest percentage drop -- 33 percent -- but you won't hear that on the network news.
Indeed, the Leftmedia have suppressed that inconvenient truth to the point that a CNN poll shows that almost 70 percent of Americans think the tax system favors the wealthy. The fact is, according to CNS News and the Tax Foundation, "Americans making more than $250,000 had an effective tax rate of 23.4 percent and their total share of the tax burden was 45.7 percent." That contrasts with Americans earning less than $50,000, who paid an effective rate of 3.5 percent for a share of 6.7 percent. Yet with Barack Obama's canard that the rich don't pay their "fair share" being blasted through the sycophantic media bullhorn, it's no wonder the idea sticks.
Perceptions could change on Jan. 1, 2013, when the Bush tax cuts are set to expire. Some were extended by the last Congress, but rates will go up for everyone in January unless an extension passes this year. The aforementioned rates will return to their previous levels, the child tax credit will drop from $1,000 to $500, the marriage penalty will return, the death tax will skyrocket to 55 percent, the capital gains tax rate will increase from 15 percent to 20 percent (with another 3.8 percent tacked on for ObamaCare), and the tax on dividends will go from 15 percent to the rate of ordinary wages -- as high as 39.6 percent. The temporary payroll tax cut will also expire. The total tax bomb on the struggling economy will be close to $500 billion.
Instead of defusing the issue, the Senate took up but failed to pass Obama's beloved Buffett Rule, an election-year tax gimmick that would require millionaires to pay no less than 30 percent in taxes. We call this a gimmick because, as columnist Charles Krauthammer points out, "If we collect the Buffett tax for the next 250 years -- a span longer than the life of this republic -- it would not cover the Obama deficit for 2011 alone."
An extension of the Bush tax cuts, on the other hand, should be a no-brainer during an election year. It should not only be permanent, but there should be fewer and even lower rates, which would lead to economic growth. As Joe Biden might say, "It's not class warfare. It's math." Of course, he meant that comment to further the administration's class warfare against the wealthy and presumptive GOP nominee Mitt Romney in particular. Obama and his minions want you to focus on what Romney does with his income, and not what Obama does with yours...."
What's your opinion of your tax burden? What should reform look like?
by Stacie L 9 years ago
WASHINGTON (AP) — President Barack Obama is expected to seek a new base tax rate for the wealthy to ensure that millionaires pay at least at the same percentage as middle income taxpayers.A White House official said the proposal would be included in the president's proposal for long term deficit...
by Jason Menayan 9 years ago
What are your thoughts on this?"We're going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing,...
by Holle Abee 10 years ago
Four Democrats and Lieberman voted with the Republicans. I have mixed feelings about this, according to the research I've done. It seems that "economy experts" are split on their views. Some argue that increasing taxes on the upper economic class will stifle jobs, while others say that...
by kerryg 10 years ago
Republicans have repeated the lie that tax cuts are always good for the economy so often that all of Washington seems absolutely convinced that it's true. The conventional wisdom is so established on this that all a Republican has to say is, "Everyone knows you don't raise taxes in the middle...
by ptosis 3 years ago
yea or nea? Are you HAPPY! that the richest .01% get less taxes? I mean - they did earn it didn't they?Do they just work harder? Is everybody else just stupid and lazy? Hard work will only get you so far if circumstances aren’t amenable. Do you believe that “If you’re still poor at 35, you deserve...
by Alex Frias 10 years ago
Question. If the Bush-era tax cuts were so popular and such the "economic reality" as it's being coined, then why did Obama fail to see this until recently. Where was his voice in favor of the Bush tax cuts 6 months ago, or even 2 years ago..?Yes Obama has always maintained...
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