I can hardly wait...

[bprice_paterfamilias]

I can't envision one positive thing that will come from all the increase in taxes that we as American's will have to pay. My guess is the average Joe will now have about 5% less to spend on "stuff". How can this not result in further recession of our economy? I need someone to help me understand how this is good for this nation.

http://www.atr.org/six-months-untilbr-largest-tax-hikes-a5171

emoRain

 

[SpurHunter]

When you figure this out, please let me know.

 

[Bprice]

I encourage everyone to be proactive and contact their Representative and Senators. Plead that these tax cuts are reenacted.

I know 5% will change my lifestyle, and I can only imagine what this will do to folks with children.

I'm interested to hear our Democrat friends' opinion on this.

 

[Davo]

Well, won't that just be awesome emoBang

 

[beetlespin]

Less money? That's just what I need...

 

[elwestb]

Brandon ... it's "Change", and I "Hope" it'll get better somehow!

 

[Bprice]

I still would like to hear from the Obama supporters here think about this

 

[SS810]

McClain was a change to he's not a Bush! We dont have much longer to wait and i hope another change awaits AMERICANS.

 

[Buoy-Master]

Bprice - 7/3/2010 7:31 PM I still would like to hear from the Obama supporters here think about this

</p>

Maybe they're too busy checking to see if that card is valid????emoTongue </p>

 

[bprice_paterfamilias]

Has to be the start of the redistribution of wealth. I know it definately will make me less likely to spend on discretionary items.

 

[outcaster]

Actually the Bushs tax cut will be allowed to expire ONLY for people with a taxable income of over a quarter million dollars. That's less than 3% of the population. wah! wah! wah! These rates will go back to the levels that they were under Clinton, Bush1, and the beloved Ronald Reagan. If a "small" business owner is reporting more than $250.000 per year to the IRS....... he needs to fire his accountant. Here is a "less slanted" article on the same subject.
http://www.marketwatch.com/story/obama-budget-lets-bush-tax-cuts-expire-2010-02-01

I especially like the last couple of lines of the article..... about the Banks and the Oil Companies..... remember them? The ones responsible for the Wall Street and Gulf of Mexico disasters

 

[beetlespin]

Rather than being dishonest and working the system like outcaster suggests maybe we should just go to a consumption tax. Eliminate income taxes all together.

 

[outcaster]

I certainly didn't mean to suggest that taking advantage of any and all "legal" tax break/loop holes is dishonest. Did you?

 

[Eyeman2]

90 % of companies in the USA are considered a "small business". The MINIMUM loan from the SBA(Small Business Admin) is $250,000.
$250,000 is not a lot of money by today standards. I know some will say, "sure would like to have that $$, would set me free".
SO the Bush tax cuts will hurt most comapnies, and those who make more than $250,000 annual income.
Annual income of $250,000 is achievable very easy in todays economy, for a married couple if you have higher education, are in the right market, and work for achievment. Plain & simple. Others are satisfied with what they have and where they are.It's a matter of choice. There are no limits to what you can do are where you can go in the USA, unless the government puts restrictions your goals.TAXES
If you have a small business and have employees, $250,000 is not a lot.
As for accountants, the first question you ask is, "how much in taxes did you pay last year?"

 

[outcaster]

Eyeman2 - 7/5/2010 11:51 AM

90 % of companies in the USA are considered a "small business". The MINIMUM loan from the SBA(Small Business Admin) is $250,000.
$250,000 is not a lot of money by today standards. I know some will say, "sure would like to have that $$, would set me free".
SO the Bush tax cuts will hurt most comapnies, and those who make more than $250,000 annual income.
Annual income of $250,000 is achievable very easy in todays economy, for a married couple if you have higher education, are in the right market, and work for achievment. Plain & simple. Others are satisfied with what they have and where they are.It's a matter of choice. There are no limits to what you can do are where you can go in the USA, unless the government puts restrictions your goals.TAXES
If you have a small business and have employees, $250,000 is not a lot.
As for accountants, the first question you ask is, "how much in taxes did you pay last year?"

Like I said....If a "small" business owner and is taking/paying himself a "taxable" (minus deductions and credits)quarter million dollar salary, it's not a "small" business. We're not talking about "business" owners with $250,000 is sales/profits, lets be clear on this. Again, LESS THAN 3% OF AMERICANS FALL INTO THIS BRACKET. We are actually talking about people that can afford to wipe their a$$ with $1000 dollar bills. Stop trying to paint small business owners into this category. I know it makes for a good line at Tea Party Rallies, but it's simply NOT TRUE! As for how much I paid last year.... It's none of your business. But I paid more than some.... and less than others. But I did take advantage of every credit, and deduction that I was legally entitled to.

 

[Eyeman2]

Read the second line of The Decrelation of Indepnedence.
TeaParty has nothing to do with what you paid last year. The question was for the accountant, how much did you pay in taxes. If he paid NONE, then HIRE HIM!! duh.. if he is under investigation from the IRS,,,,RUN!
You just don't get it...Small business is classified as a business that employes less than 500 hundred people.
You keep a plugin, I'm retired, but have been thinking about starting up another business as we type.

 

[Bfish]

bprice_paterfamilias - 7/2/2010 3:01 PM

I can't envision one positive thing that will come from all the increase in taxes that we as American's will have to pay.

No new debt on services provide. Unlike previous adminstrations that had unfunded mandates.

 

[Bfish]

beetlespin - 7/5/2010 8:10 AM
...maybe we should just go to a consumption tax. Eliminate income taxes all together.

Ah back to the "fair" tax, where the lower 40% taxes are increase and the upper 20% are reduced. Sorry but it will break the lower and middle classes, creating dirt poor and uber rich, with no middle ground.

 

[Eyeman2]

1% of the top wage earners pay 19% of total IRS taxes and earn 40% of all income, while the next top wage earners, 50% of all taxpayers, pay 90% of all taxes. Is this fair?
I have a brother who lives in the Atlanta,GA area and he and his wife are professional workers. They pay, after GA taxes, 50% of all their wages earned. is this fair?
In other words you work half your life to pay the government so they can give it to whom they please, and you have no say-so, except when you vote.
Can you live on 6 months of your income?
Fair Taxes is the answer...everyone has more disposable income...taxed when they spend it.plain & simple

 

[slo-ride]

bprice_paterfamilias - 7/4/2010 10:14 PM

Has to be the start of the redistribution of wealth. .

^^^^nailed it.

I agree with Eyeman2 on the Fair Tax for many reasons....at least then the illegals would be paying SOME of their share.