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I think with a democrat controlled Congress and democratic president, it will be about 6 months after he is sworn in that he will all of a sudden 'change his mind' and now need to raise taxes. There is no balance in Congress to stop him either. Think about everything we know about tax and spend policy and bet on it for the next 4 years. They are just laying low right now to get elected. Obama has never promised he would never raise taxes. He just says he wont right now.
You realy think McCain wont raise taxes to pay for all this money we keep spending left and right???? History has shown that lowering taxes has only brought us one thing: DEBT. Check out what Reagans aclaimed tax cuts did to the national debt......
Where I agree we have to cut charply on spending, paying for our debt and current spending will come from one and only one source, no matter which party is in power: TAXES !!!
Higher taxes are UNAVOIDABLE unless the US of A declares bankruptcy.
Yeah someone needs to get serious about balancing the budget and working on debt retirement. No matter who gets elected, there won't be any major life changing tax raises or cuts, it will be like it always has been, after all the hype of election, and slow increase or decrease in taxes. I hope to buy some nice property in Mexico and learn to speak spanish when it gets really bad.
Over the long term inflation will bring things into balance!
Higher taxes are avoidable if the government is willing to cut usless programs, pork barrel and the like. The country is absolutely in need of a serious balanced budget. Unfortunately, cutting things out of the budget is a very unpopular political stance and politicians know that to support it is political suicide.
But is it fair to say that one segment of society that already bears the greatest burden in financing the country should be expected to take on a greater burden?
Like 4jacks plans, they will leave the country and take their money with them.
A consistent tax plan of a straight percentage for all Americans above an honest poverty line without any loop holes seems fair. Taxes for corporations that do no provide health benefits for their employees. That just seems fairer to me.
Mc Cain and Obama are in different positions. Mc Cain is for cutting programs and cutting spending. Obama is a democrat who wants a whole pile of changes. Obama can't go into power and then simply sit there like a lame duck pinching every penny. He made all kinds of campaign promises and the hard left owns him. He has to cough up piles of money to pay for his programs he promised.
The only way he could get away with it is flee the middle east altogether and cut the military drastically. Then he would have to pray Al Qaeda doesn't get stronger and leaves us alone. We would also have to pray Iran doesn't get a nuclear weapon and Pakistan sorts out its own problems.
Meow I see you dont have original thoughts as you hijacked my thread after insulting me. You are truly a piece of work.
Meow. I have long thought the rich should pay more, until I found out they already pay way beyond their share. We live in a free society and this idea its 'fair or right' to keep soaking the rich to feed the poor is a socialist idea that isn't borne out of the fundamental right to freedom.
At what point does the government have the right to literally reach in and rip money out to distribute it to the poor ? Its the very thing we fought in our revolutionary war to avoid. Instead of simply taxing the rich more and more, shut down loopholes and other abuses to slowly curb the ability of the rich to keep getting richer and the poor keep getting poorer. Put fail safes in to grow the middle and lower class and let everyone keep their hard earned money.
LuckyGrillll. I hijacked your thread because it was in the wrong Zillow section and seemed to have run it's course.
Here I hope that there could be a civil discussion, instead of name calling.
The rich, over $250k, pay something like 90% of the taxes now. Those, below $42k pay nothing for the most part. I'm not talking state and local, just Federal. Just like buying a house with nothing down, they have no skin in the game per say...yet they vote? They would also like the "rich" to provide them with free health care, free education (college), and and free housing. What the hell, why not a free credit card, gas allowance, a Nordstrum card and anything else?
And the rich will get poorer, and the gravey train will run dry...Then what?
Meow
You are still being condescending. I guess that is just your personality and you cannot help yourself.
Well the next time you decide to participate in someone elses thread, why not stay on the topic instead of insulting the person who started it.
I agree with Supercub. I think the rich pay enough. Its a great campaign slogan but its simply not the real truth. The real truth is they need to provide a better platform for all of us to take better care of ourselves, not over-steal from the rich to hide the fact they have made it very difficult for the poor to make money.
Sir Allan: I agree with you. How did we get where we are today?
Did you know that at early in our nation's history, income tax was considered unconstitutional?
I don't believe that we need to get rid of income tax. I do believe that we need it. But, taxes do seem to be out of control.
One year (1999) my business did very well. I paid about $350,000 to the IRS. The following year, I made so little that my taxes were less than $5000.00. Well, I was audited because the IRS just couldn't believe that my income fluctuated that much even though the DotBomb happened. I'm glad I keep my records organized.
Why doesnt that surprise me?
LUCKYGRLLLLLLLLL . Im not trying to get in the middle of this but I am confused. Didn't meow start this thread? I don't know what you are trying to suggest but if you tell me maybe I can help.
So, if this is Obama's campaign slogan, is it good enough to get him elected? Right now where I'm standing, I'm already assuming that he'll win the election.
It's a bit of a logistical nightmare for my small business. It's costs money to incorporate, it requires a board of directors that meets on a regular basis and minutes must be prepared and posted, it doesn't really release me from a lot of liability because of the nature of my business (which is why most choose to incorporate), and the taxes become far too complicated.
My preference is to maintain a simple model that keeps expenses down. That way, I can provide better wages to my employees.
If Obama does follow through with his plan, I may choose to go ahead and incorporate. That way I can be a salaried employee just like my staff and pay myself a wage that's below the "rich" threshold.
But, I'm torn with this plan and feel guilty about doing it because the price it would take to make the incorporation happen in this down economy would force me to lay-off one or two of my staff. That's hard for me to accept just to save my own personal finances.
Incorporate in NV. Many larger corporations from Intel to Google are incorp in Delaware. Lower taxes and bureaucracy. Some have gone farther and incorporated in Caymen Islands even though they have operations here in Santa Clara County.
There isnt anything to be torn about.. vote for McCain!
Though my take on politics may well be different, I'm in a very similar business position to you, Meow. I'm thinking, though, that incorporating may well be in my immediate future.
Gee, how horrible were your taxes when Clinton was balancing the books! Give me a break. A person making over $250K is the top 5% in this country and more than 90% of the WORLD. Go starve in some small country and work every day for each days meal, not knowing what tomorrow will bring you. Boo hoo, the gov't wants to take more money from me. I will gladly pay a bit more to make this country right and I don't make over $250K......so stop your whine!!
During 2006, Tax Foundation economists estimate that roughly 43.4 million tax returns, representing 91 million individuals, will face a zero or negative tax liability. That's out of a total of 136 million federal tax returns that will be filed. Adding to this figure the 15 million households and individuals who file no tax return at all, roughly 121 million Americans—or 41 percent of the U.S. population—will be completely outside the federal income tax system in 2006.1 This total includes those who pay no tax, and those who pay some tax upfront and are later refunded the full amount of the tax paid or more.
This is a factual statistic. Obama is full of crap and 95% of America doesn't pay taxes now and his capital gains tax won't mean anything with all of the losses this year that will carry over for years to come. Obama is a fraud.
Thanks, old Navajo. I'm thinking of an S Corp.
I guess it is true.......
taxes are for the poor.
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Obama's Tax Plan-Tax those making $250K+ per year.
meow95030
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I'd like to discuss Obama's tax plan to tax those making over $250K per year. I'm concerned that what has currently been presented to the American people sounds like a short-sighted proposition.
Being a small business owner, I'm concerned that the additional taxes forced upon me will ultimately ruin my ability to provide decent wages and benefits to my employees. As it already stands, I send about 50% of my net income to the tax men (Feds and California). That doesn't include what my employees have to pay in taxes on their own. As a sole proprietor, I don't have the protection and shelter that a corporation does. Basically all profit from the company goes to me as my salary and as bonuses I give to my employees. That also makes my income variable. Some years I make a lot and some years my employees make more than me.
So, I am curious how other people feel about this tax plan. Do you think it is good for America?
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