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BigCatDaddy
08-28-2008, 08:34 AM
Apparently America thinks Obama is full of it.

http://www.gallup.com/poll/109816/Half-Americans-Expect-Obama-Raise-Their-Taxes.aspx

PRINCETON, NJ -- Fifty-three percent of Americans expect their federal income taxes to increase if Barack Obama is elected president, while 34% think they would increase if John McCain gets the job -- both of which are higher than expectations were for their counterparts in the 2004 election.

HonestChieffan
08-28-2008, 08:35 AM
lol well hell. I wonder why

DaKCMan AP
08-28-2008, 08:39 AM
Further proving that many Americans are ill-informed.

HonestChieffan
08-28-2008, 08:44 AM
The other half will figure it out if the dude is elected.

BigCatDaddy
08-28-2008, 08:48 AM
Further proving that many Americans are ill-informed.

Ill informed, or just don't believe him?

Garcia Bronco
08-28-2008, 08:49 AM
Since he wants to raise employment taxes and capital gains and has offered a bribe to the American people by unfairly taxing business if he's elected, I would say they are right to a degree. He's not going to raise taxes in plain view, but his offered policies will raise cash flow burdens on the people. It's good to see people understand that.

Garcia Bronco
08-28-2008, 08:50 AM
Ill informed, or just don't believe him?


I wouldn't believe any of them.

BigCatDaddy
08-28-2008, 08:51 AM
I wouldn't believe any of them.

I wouldn't be surprised if either of them raised income taxes, although I would guess Obama to be the more likely.

Garcia Bronco
08-28-2008, 08:54 AM
I wouldn't be surprised if either of them raised income taxes, although I would guess Obama to be the more likely.


The problem is people think there is such a thing as a business tax. There isn't. Generally every business will pass those taxes on to the consumer. Another thing people don't truly understand is the cost of doing business in this country, especially public companies. I have spent over 3 million in government compliance alone of my companies money. Money that would have been better spent elsewhere. We pass that cost onto the customer. We need to get out of taxing businesses to death and get back to the only thing that can save us. Treat it just like any person with sense would in their own budget. STOP SPENDING.

Obama and Congress are not going to stop spending and after 8 years of increased spending we absolutely need to stop spending and stop taxing our people into the ground.

Ultra Peanut
08-28-2008, 09:01 AM
50 percent of Americans apparently think they're in the 95th percentile of earners.

Since he wants to raise employment taxes and capital gains and has offered a bribe to the American people by unfairly taxing business if he's elected, I would say they are right to a degree. He's not going to raise taxes in plain view, but his offered policies will raise cash flow burdens on the people. It's good to see people understand that.TRICKLE DOWN ECONOMICS!!!!!!!!!!!!!~!@~!@!@!~@~!@~!@@!~@~!@!~@~!~!@@!`212111111111111111111

BigCatDaddy
08-28-2008, 09:06 AM
Given the current state of the economy, I wander if this isnít why he seems to be stagnant in the polls. If the 53% that believe he will raise their taxes wonít vote for him then you get the 47% that he seems to have been hovering around for awhile now.

Garcia Bronco
08-28-2008, 09:07 AM
50 percent of Americans apparently think they're in the 95th percentile of earners.

TRICKLE DOWN ECONOMICS!!!!!!!!!!!!!~!@~!@!@!~@~!@~!@@!~@~!@!~@~!~!@@!`212111111111111111111


You are going off his income tax plan, which would have to be approved by Congress. In fact few understand that Congress sets the tax code. But income tax isn't the only tax we pay is it? Capital gains is tied to income tax, but if you have 250k plus in your 401k, Congress under Obama's plan is going to take more tax from you. I am 33 and have more than that.

As I said, that's not the only tax we pay. Call it what you want. We also pay the taxes imposed on businesses as consumers. If Obama taxes Oil and hands every American 500 dollars, what do you think the oil company is going to do considering they already pay 50 to 75 percent already on their income?

banyon
08-28-2008, 09:10 AM
You are going off his income tax plan, which would have to be approved by Congress. In fact few understand that Congress sets the tax code. But income tax isn't the only tax we pay is it? Capital gains is tied to income tax, but if you have 250k plus in your 401k, Congress under Obama's plan is going to take more tax from you. I am 33 and have more than that.

As I said, that's not the only tax we pay. Call it what you want. We also pay the taxes imposed on businesses as consumers. If Obama taxes Oil and hands every American 500 dollars, what do you think the oil company is going to do considering they already pay 50 to 75 percent already on their income?

The cap gains raise is progressive too, so that won't be raised either for the vast majority of people.

Garcia Bronco
08-28-2008, 09:17 AM
The cap gains raise is progressive too, so that won't be raised either for the vast majority of people.


The vast majority of Baby Boomers with 401k's, 500,000 dollar homes, and stocks have that much. With the increased burden on Social Security because of this generation, and Obama talking about taxing them further. Rasing Captial Gains is a bad idea where the people are concerned. Compound all this with the fact that he wants Universal Health Care, and you have a financial nightmare waiting to happen.

And Universal Health Care will lead to socialized medicine. Under UHC the insurance companies still get paid and rates still go higher. When that eats itself, we'll have to bring healthcare under the state and the doctors and nurse will be government employees and you'll see a reduction in services and a reduced quality in healthcare.

what this country needs now is true conservatives in congress that are as tight as bark on a tree. Because we are over taxed in this country already.

irishjayhawk
08-28-2008, 10:00 AM
The vast majority of Baby Boomers with 401k's, 500,000 dollar homes, and stocks have that much. With the increased burden on Social Security because of this generation, and Obama talking about taxing them further. Rasing Captial Gains is a bad idea where the people are concerned. Compound all this with the fact that he wants Universal Health Care, and you have a financial nightmare waiting to happen.

And Universal Health Care will lead to socialized medicine. Under UHC the insurance companies still get paid and rates still go higher. When that eats itself, we'll have to bring healthcare under the state and the doctors and nurse will be government employees and you'll see a reduction in services and a reduced quality in healthcare.

what this country needs now is true conservatives in congress that are as tight as bark on a tree. Because we are over taxed in this country already.

While true, the real problem comes with spending. We've had a Republican President for the last 8 years and a Republican Congress for 6 of those years. We CUT taxes and we SPENT more. That leads to deficits.

So, as much as we need to cut down on taxes, we need to cut down on spending. If we can't cut down on spending, we cannot cut down on taxes. Period.

Garcia Bronco
08-28-2008, 10:02 AM
While true, the real problem comes with spending. We've had a Republican President for the last 8 years and a Republican Congress for 6 of those years. We CUT taxes and we SPENT more. That leads to deficits.

So, as much as we need to cut down on taxes, we need to cut down on spending. If we can't cut down on spending, we cannot cut down on taxes. Period.


Both, Congress or the President, aren't going to do that which is why this election is so close.

banyon
08-28-2008, 10:08 AM
The vast majority of Baby Boomers with 401k's, 500,000 dollar homes, and stocks have that much. With the increased burden on Social Security because of this generation, and Obama talking about taxing them further. Rasing Captial Gains is a bad idea where the people are concerned. Compound all this with the fact that he wants Universal Health Care, and you have a financial nightmare waiting to happen.

And Universal Health Care will lead to socialized medicine. Under UHC the insurance companies still get paid and rates still go higher. When that eats itself, we'll have to bring healthcare under the state and the doctors and nurse will be government employees and you'll see a reduction in services and a reduced quality in healthcare.

what this country needs now is true conservatives in congress that are as tight as bark on a tree. Because we are over taxed in this country already.


The progressive rates are set in by income, not net worth, so this wouldn't really apply either. It would only apply to those making $250k+ a year, or the top 1.5% of the population, which isn't exactly the middle class.

I don't know why you started talking about health care, but I don't have time to get into that tangled web of debate right now.

Garcia Bronco
08-28-2008, 10:11 AM
The progressive rates are set in by income, not net worth, so this wouldn't really apply either. It would only apply to those making $250k+ a year, or the top 1.5% of the population, which isn't exactly the middle class.

I don't know why you started talking about health care, but I don't have time to get into that tangled web of debate right now.


If I cash in my 401k tomorrow under Obama's plan then I pay the increased capital gains.

Universal Health care is going to result in increased tax burden. which is what the thread is about.

irishjayhawk
08-28-2008, 10:19 AM
Both, Congress or the President, aren't going to do that which is why this election is so close.

True. However, there has to be a case made that after 8 years of spending by a Republican - most of which went abroad to the war - a democrat should at least be able to spend some money domestically to help balance that out. And then, at the end of that period, we should strive for President and Congress of different parties.

banyon
08-28-2008, 10:20 AM
If I cash in my 401k tomorrow under Obama's plan then I pay the increased capital gains.


Yeah, that might be the case, I don't know if there's an exception built in for retirement or not, I would bet that there was. But even if there isn't that's the risk you took when you decided to defer the taxes to a later date. If you didn't want to take that risk, then maybe a Roth IRA would've been the better bet.

ROYC75
08-28-2008, 10:23 AM
Since he wants to raise employment taxes and capital gains and has offered a bribe to the American people by unfairly taxing business if he's elected, I would say they are right to a degree. He's not going to raise taxes in plain view, but his offered policies will raise cash flow burdens on the people. It's good to see people understand that.

I've been harping this for some time..... Obots reply : Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute.

irishjayhawk
08-28-2008, 10:31 AM
I've been harping this for some time..... Obots reply : Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute,Does Not Compute.

Hey, it's middle of the road, moderate Roy!

StcChief
08-28-2008, 10:38 AM
While true, the real problem comes with spending. We've had a Republican President for the last 8 years and a Republican Congress for 6 of those years. We CUT taxes and we SPENT more. That leads to deficits.

So, as much as we need to cut down on taxes, we need to cut down on spending. If we can't cut down on spending, we cannot cut down on taxes. Period.
ok. baring being attacked by terrorists and going after them. we could have sat and waited and hunkered down here built N/S border fences.

beefed up inspections, in/out of US. and hoped they didn't get lucky again.

Not engaged our allies about danger of terrorists. Hoped the inbound planes from Britian didn't happen.....

Figure it out. We are at war with people that disagree with America culture, freedom etc. have been passively for over 30 years.

ROYC75
08-28-2008, 10:40 AM
While true, the real problem comes with spending. We've had a Republican President for the last 8 years and a Republican Congress for 6 of those years. We CUT taxes and we SPENT more. That leads to deficits.

So, as much as we need to cut down on taxes, we need to cut down on spending. If we can't cut down on spending, we cannot cut down on taxes. Period.


True, we had a Bush and a republican senate for 6 years, if we go Obama and a democrat senate, we get the same partisan shit for another several years.

Obama is throwing out a smoke screen to Americans on his taxes. You can't have more social programs, startup programs as he wants without more income. Meager tax breaks that the middle class and poor will get WILL NOT compensate the lost money thru increased business taxes and cost of living due to no immediate relief of oil and gas at the pumps.

Obama wants us to sacrifice, which is what we are doing now, How much longer can we go. Obama's plan takes too long to implement for any immediate relief,the poor and middle class will suffer more in the long run. Talking words like, we will give you more, you will pay less income tax IS A GREAT SALES PITCH to the ones who know NOTHING ABOUT THE OVERALL COST OF HIS PLAN.

Donger
08-28-2008, 10:41 AM
How does Barack Hussein propose to pay for his version of socialized medicine? Are "the rich" going fund it all?

HonestChieffan
08-28-2008, 10:42 AM
The facts bear out that in total, Obama will increase taxes on all people. He and his group continue to focus rhetoric on taxing the rich but in fact all will see increases in taxes we pay in one form or another. That truth will be made more and more clear between now and the election.

Donger
08-28-2008, 10:43 AM
Oh, and didn't Barack Hussein say a few days ago that we are in recession?

ROYC75
08-28-2008, 10:43 AM
Both, Congress or the President, aren't going to do that which is why this election is so close.

They should, we need separate parties as president and congress .

Bush's 1st 6 years was stupid spending ........

The next 2 years was spent on bickering, not getting anything done to correct the 1st 6 years.

ROYC75
08-28-2008, 10:44 AM
If I cash in my 401k tomorrow under Obama's plan then I pay the increased capital gains.

Universal Health care is going to result in increased tax burden. which is what the thread is about.

Truth ........

oldandslow
08-28-2008, 10:46 AM
53% of Americans think Barack Obama will raise their taxes, which means at least 52% of Americans don't know anything about his tax policies. In fact, 95% of Americans will see a tax cut from Obama, and 80% of Americans will get a bigger cut than they'd get from McCain.

http://www.ObamaTaxCut.com

Donger
08-28-2008, 10:48 AM
53% of Americans think Barack Obama will raise their taxes, which means at least 52% of Americans don't know anything about his tax policies. In fact, 95% of Americans will see a tax cut from Obama, and 80% of Americans will get a bigger cut than they'd get from McCain.

http://www.ObamaTaxCut.com

So, Barack Hussein does plan to fund his socialized medicine plan just on the tax increases on "the rich"?

oldandslow
08-28-2008, 10:49 AM
Plan on it.

Robber baron corporations have exploited the American worker for far too long.

Donger
08-28-2008, 10:50 AM
Plan on it.

What is the cost per year of his plan, and what does he expect to take in from the increased taxation?

ROYC75
08-28-2008, 10:50 AM
Hey, it's middle of the road, moderate Roy!


Yur off to a good start ! :D

Try explaining how Obot is going to offset the continual cost of living on the American people, namely the poor and the middle class with his plan. His plan is just another creative tax and spend method.

ROYC75
08-28-2008, 10:51 AM
53% of Americans think Barack Obama will raise their taxes, which means at least 52% of Americans don't know anything about his tax policies. In fact, 95% of Americans will see a tax cut from Obama, and 80% of Americans will get a bigger cut than they'd get from McCain.

http://www.ObamaTaxCut.com


Try explaining how Obot is going to offset the continual cost of living on the American people, namely the poor and the middle class with his plan. His plan is just another creative tax and spend method.

irishjayhawk
08-28-2008, 10:51 AM
True, we had a Bush and a republican senate for 6 years, if we go Obama and a democrat senate, we get the same partisan shit for another several years.

While true, one can make a strong argument that to correct the 6 years, we should spend domestically to beef up our infrastructure. And then go into a remission period.


Obama is throwing out a smoke screen to Americans on his taxes. You can't have more social programs, startup programs as he wants without more income. Meager tax breaks that the middle class and poor will get WILL NOT compensate the lost money thru increased business taxes and cost of living due to no immediate relief of oil and gas at the pumps.

Weird. Bush must have thrown the mother of all smoke screens. Or he was retarded. Or both. He spent more and more on the war while CUTTING taxes. You can't do that.


Obama wants us to sacrifice, which is what we are doing now, How much longer can we go. Obama's plan takes too long to implement for any immediate relief,the poor and middle class will suffer more in the long run. Talking words like, we will give you more, you will pay less income tax IS A GREAT SALES PITCH to the ones who know NOTHING ABOUT THE OVERALL COST OF HIS PLAN.

I don't recall you being this adamant about Bush in 04. You know, when he was spending more and making you pay less. The exact thing you're up in arms about now.

Good ole, non-partisan Roy!

ROYC75
08-28-2008, 10:52 AM
So, Barack Hussein does plan to fund his socialized medicine plan just on the tax increases on "the rich"?


A modern day Robin Hood ...............

irishjayhawk
08-28-2008, 10:52 AM
Try explaining how Obot is going to offset the continual cost of living on the American people, namely the poor and the middle class with his plan. His plan is just another creative tax and spend method.

As opposed to the no tax and spend method.

Jebus, can you please stop being so partisan while claiming to be a moderate. It's sickening.

oldandslow
08-28-2008, 10:53 AM
What is the cost per year of his plan, and what does he expect to take in from the increased taxation?

Less than the Iraqi adventure...

The Obama campaign estimates his health care reform plan will cost between $50 and $65 billion a year when fully phased in. It will be paid from savings in the system and from discontinuing the Bush tax cuts for those making more than $250,000 per year.

Donger
08-28-2008, 10:54 AM
Less than the Iraqi adventure...

The Obama campaign estimates his health care reform plan will cost between $50 and $65 billion a year when fully phased in. It will be paid from savings in the system and from discontinuing the Bush tax cuts for those making more than $250,000 per year.

Savings in the system? Barack Hussein actually thinks that the government can do it better and cheaper?

ROYC75
08-28-2008, 10:56 AM
While true, one can make a strong argument that to correct the 6 years, we should spend domestically to beef up our infrastructure. And then go into a remission period.

It does take more than 2 years to implement a good approach, I agee with this.



Weird. Bush must have thrown the mother of all smoke screens. Or he was retarded. Or both. He spent more and more on the war while CUTTING taxes. You can't do that.

Bush did, the congress bought it, we are screwed.



I don't recall you being this adamant about Bush in 04. You know, when he was spending more and making you pay less. The exact thing you're up in arms about now.

Live and learn, I did fear this in 2004, but I bought into it with the benefit of doubt, Yes I am pissed off . But more than anything is we didn't become more independent on oil, congress and Bush both let us down in 2004.

Good ole, non-partisan Roy!

Eh, whatever ........

oldandslow
08-28-2008, 10:57 AM
Savings in the system? Barack Hussein actually thinks that the government can do it better and cheaper?

Yes...the govt does many things better than private industry...

the military
dams and other "big construction"
space
interstate highways

and yes, health care.

Garcia Bronco
08-28-2008, 10:57 AM
Yeah, that might be the case, I don't know if there's an exception built in for retirement or not, I would bet that there was. But even if there isn't that's the risk you took when you decided to defer the taxes to a later date. If you didn't want to take that risk, then maybe a Roth IRA would've been the better bet.


I have both, my 401k is at 300k and my roth 215k. I have been saving since I was 20 and got out of a few things at the right time. At 33 I won't be retiring soon. Hopefully 50, but we'll see. History has also shown that raising Capital Gains does NOT increase tax revenue. Bottom line is I earned that money I invested and earned the returns. So did my parent. We shouldn't be unfairly taxed and our wealth redistributed to other people that didn't earn our money.

DeezNutz
08-28-2008, 10:58 AM
Less than the Iraqi adventure...

The Obama campaign estimates his health care reform plan will cost between $50 and $65 billion a year when fully phased in.

Pretty substantial range, actually.

Reminds me of new construction estimates: We'll have it done in 3-5 months. Translation: 6-8.

oldandslow
08-28-2008, 10:59 AM
Pretty substantial range, actually.

Reminds me of new construction estimates: We'll have it done in 3-5 months. Translation: 6-8.

Still, less than the Iraqi adventure.

irishjayhawk
08-28-2008, 11:00 AM
Pretty substantial range, actually.

Reminds me of new construction estimates: We'll have it done in 3-5 months. Translation: 6-8.

I don't consider it that big a range when you're talking about the health care of 300 million people.

:shrug:

Radar Chief
08-28-2008, 11:00 AM
Pretty substantial range, actually.

Reminds me of new construction estimates: We'll have it done in 3-5 months. Translation: 6-8.

"Two weeks."

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DeezNutz
08-28-2008, 11:00 AM
Still, less than the Iraqi adventure.

And these two issues are connected how?

Donger
08-28-2008, 11:00 AM
Yes...the govt does many things better than private industry...

the military
dams and other "big construction"
space
interstate highways

and yes, health care.

I can't help but notice you left out the "cheaper" part.

DeezNutz
08-28-2008, 11:01 AM
I don't consider it that big a range when you're talking about the health care of 300 million people.

:shrug:

30%?

CYA.

oldandslow
08-28-2008, 11:01 AM
I can't help but notice you left out the "cheaper" part.

you get what you pay for.

irishjayhawk
08-28-2008, 11:02 AM
And these two issues are connected how?

I think the logic goes: we spent x on war, we can spend x on health care. They are related via the amount of money.

oldandslow
08-28-2008, 11:02 AM
And these two issues are connected how?

They are not...

I am simply saying you could have taken what you spent in an ill-advised military action and used it to start up a universal health care system...

I know which one I would have prefered.

irishjayhawk
08-28-2008, 11:03 AM
30%?

CYA.

Pardon, but what is CYA?

Out of curiosity, what would be an acceptable range?

ROYC75
08-28-2008, 11:04 AM
As opposed to the no tax and spend method.

Jebus, can you please stop being so partisan while claiming to be a moderate. It's sickening.

No tax but redistribute the current income plus cut spending .


Damn, you really want to curb the deficit quicker, Tax the hell out of the people, cut spending, drill here, NOW.

How many vote will that one get ? But in reality, that is the ticket to right the ship. The right plan is the wrong plan for Americans, now.

We can't afford the Obama plan , NOW, to costly, NOW and the next 4 years before we see some minimal relief. Obama's plan has no guarantees to work in the long run, much less the short term when people need it now. SACRIFICES ?

At least McCains plan makes sense now SO THAT WE find a long term solution
to our energy needs. Either parties long tern energy plans are a trial and error method ........

OBAMA IS NOT THE CHANGE WE NEED , NOW.

Radar Chief
08-28-2008, 11:04 AM
Yes...the govt does many things better than private industry...

the military
dams and other "big construction"
space
interstate highways

and yes, health care.

Military and space (NASA) equipment is all purchased from outside vendors.
Big construction is usually contracted out to big construction companies.

DeezNutz
08-28-2008, 11:05 AM
"You don't understand. I've worked in the private sector - they expect results."

ROYC75
08-28-2008, 11:05 AM
Still, less than the Iraqi adventure.

Screw that, we will be out soon enough, but when we do, those $$$ will be used on the next conflict. It's the way of the world, one ends, another on starts.

DeezNutz
08-28-2008, 11:05 AM
Pardon, but what is CYA?

Out of curiosity, what would be an acceptable range?

Cover your ass.

Something closer than 30%. This suggests that they really don't know, which is true.

oldandslow
08-28-2008, 11:06 AM
Roy:

Not spending a couple of trillion in Iraq would have been a good start.

Obama IS the change we need now.

oldandslow
08-28-2008, 11:08 AM
Military and space (NASA) equipment is all purchased from outside vendors.
Big construction is usually contracted out to big construction companies.


Government provides oversight, just as they would in universal health care.

ROYC75
08-28-2008, 11:09 AM
They are not...

I am simply saying you could have taken what you spent in an ill-advised military action and used it to start up a universal health care system...

I know which one I would have prefered.


If , if , if ...... how about the next conflict we find ourselves involved in ?

DeezNutz
08-28-2008, 11:09 AM
I think the logic goes: we spent x on war, we can spend x on health care. They are related via the amount of money.

They are not...

I am simply saying you could have taken what you spent in an ill-advised military action and used it to start up a universal health care system...

I know which one I would have prefered.

Thanks, gents, but I understood the complicated math involved.

Please excuse the rhetorical question, however. :D

Radar Chief
08-28-2008, 11:09 AM
Government provides oversight, just as they would in universal health care.

Would they be contracting that out also?
But you posted that they “do” these things. I’m pointing out that they don’t actually do them, just provide the funding.

Chief Henry
08-28-2008, 11:10 AM
If I cash in my 401k tomorrow under Obama's plan then I pay the increased capital gains.

Universal Health care is going to result in increased tax burden. which is what the thread is about.

GB,

If you cash in your 401k, you won't pay Capital Gains tax, just income tax.
100% of the value you cash in will be TAXABLE INCOME in Federal and State tax's, unless youl live in one of those states w/o the state income tax. Lets say you earn $100,000 per year and you cash in your 401lk valued at $300,000 in one year, that means you'd have $400,000 of taxable income :eek:

Capital Gains tax comes from people with non qualified accounts or non IRA (type) accounts and the sale of property like homes, land and individual stocks or mutual funds.

Your right about increasing the capital gains tax, it doesn't raise rev into the
US Treasury coffers, it hinders it.

I read in one of your post about the value's in your accoutns. Congratutlations to you. I started my first IRA at age 22. You've got me by 2 years. More young people need to take a lesson from you thats for sure. The power of compounding interest for young people is POWERFUL.
You've done well saving for money.

oldandslow
08-28-2008, 11:12 AM
Would they be contracting that out also?

Yeah, pretty much. We are not going to "nationalize" hospitals. What Obama's plan would do is make sure all people are covered by some sort of insurance.

I prefer a single-payer plan, but I don't thing Obama goes that far.

BigCatDaddy
08-28-2008, 11:13 AM
53% of Americans think Barack Obama will raise their taxes, which means at least 52% of Americans don't know anything about his tax policies. In fact, 95% of Americans will see a tax cut from Obama, and 80% of Americans will get a bigger cut than they'd get from McCain.

http://www.ObamaTaxCut.com

The question was "Do you think he will raise your taxes?", not "Does his plan say he will raise your taxes?". They obviously don't believe he will follow through with what he says.

oldandslow
08-28-2008, 11:14 AM
If , if , if ...... how about the next conflict we find ourselves involved in ?

Choosing conflicts of necessity rather than wars of choice will limit that money considerably. BTW, I was not a fan of Clinton's little excursion into Kosavo either.

DeezNutz
08-28-2008, 11:16 AM
Choosing conflicts of necessity rather than wars of choice will limit that money considerably. BTW, I was not a fan of Clinton's little excursion into Kosavo either.

Don't shoot 'til you see the whites of their eyes, boys!!!

Garcia Bronco
08-28-2008, 11:18 AM
GB,

If you cash in your 401k, you won't pay Capital Gains tax, just income tax.
100% of the value you cash in will be TAXABLE INCOME in Federal and State tax's, unless youl live in one of those states w/o the state income tax. Lets say you earn $100,000 per year and you cash in your 401lk valued at $300,000 in one year, that means you'd have $400,000 of taxable income :eek:

Capital Gains tax comes from people with non qualified accounts or non IRA (type) accounts and the sale of property like homes, land and individual stocks or mutual funds.

Your right about increasing the capital gains tax, it doesn't raise rev into the
US Treasury coffers, it hinders it.

I read in one of your post about the value's in your accoutns. Congratutlations to you. I started my first IRA at age 22. You've got me by 2 years. More young people need to take a lesson from you thats for sure. The power of compounding interest for young people is POWERFUL.
You've done well saving for money.


Hmmm. Since my 401k is all mutual fund I thought it would apply. Even better.

I bank at least 25 percent a paycheck these days. At one point in the 90's I was doing 50 percent. Plus the vested match. It's a good deal. I own a home, have a dog, zero credit card debt (infact expect for the notes on my house and car I am debt free), and I can't find a woman to save my life. :)

ROYC75
08-28-2008, 11:20 AM
Roy:

Not spending a couple of trillion in Iraq would have been a good start.

Obama IS the change we need now.


How much of that goes to Afghanistan to increase troops ? How much to the next conflict ? How much to other avenues of military services we must commit to ?

Iraq is a problem, but it's one we took on as NATO police officers ....... pull out before it is finished is to lose and lose with shame and lack of honor. Finish it, quickly, get out, another conflict is awaiting ( as much as we all don't want them, it's going to happen )
.

DeezNutz
08-28-2008, 11:20 AM
I bank at least 25 percent a paycheck these days. At one point in the 90's I was doing 50 percent. Plus the vested match. It's a good deal. I own a home, have a dog, zero credit card debt (infact expect for the notes on my house and car I am debt free), and I can't find a woman to save my life. :)

ROFL

ROYC75
08-28-2008, 11:23 AM
Choosing conflicts of necessity rather than wars of choice will limit that money considerably. BTW, I was not a fan of Clinton's little excursion into Kosavo either.

I can relate, but we serve as NATO's police officers, always have, always will, As much as I wish not ,that's is why I say another conflict will happen.

Garcia Bronco
08-28-2008, 11:24 AM
ROFL


I know, right. :doh!:

DeezNutz
08-28-2008, 11:25 AM
I know, right. :doh!:

I wasn't laughing AT you but rather at the nature of the description. Well played.

Perhaps your NFL fandome is contributing to the situation? :D

Garcia Bronco
08-28-2008, 11:29 AM
I wasn't laughing AT you but rather at the nature of the description. Well played.

Perhaps your NFL fandome is contributing to the situation? :D


I am a Donkey season ticket holder and attend all games. I date, but dang, either I am not interested or the ones I am interested in aren't.

Can Obama do something about this?????

:)

SBK
08-28-2008, 11:37 AM
The only people excited about tax increases are the one's who's taxes remain unaffected. It's easy to write checks with other people's money......

Garcia Bronco
08-28-2008, 11:37 AM
The only people excited about tax increases are the one's who's taxes remain unaffected. It's easy to write checks with other people's money......


Truer words have never been spoken by anyone about anything.

DeezNutz
08-28-2008, 11:42 AM
I am a Donkey season ticket holder and attend all games. I date, but dang, either I am not interested or the ones I am interested in aren't.

Can Obama do something about this?????

:)

Change YOU can believe in!

banyon
08-28-2008, 11:52 AM
GB,

If you cash in your 401k, you won't pay Capital Gains tax, just income tax.
100% of the value you cash in will be TAXABLE INCOME in Federal and State tax's, unless youl live in one of those states w/o the state income tax. Lets say you earn $100,000 per year and you cash in your 401lk valued at $300,000 in one year, that means you'd have $400,000 of taxable income :eek:

Capital Gains tax comes from people with non qualified accounts or non IRA (type) accounts and the sale of property like homes, land and individual stocks or mutual funds.

Your right about increasing the capital gains tax, it doesn't raise rev into the
US Treasury coffers, it hinders it.

I read in one of your post about the value's in your accoutns. Congratutlations to you. I started my first IRA at age 22. You've got me by 2 years. More young people need to take a lesson from you thats for sure. The power of compounding interest for young people is POWERFUL.
You've done well saving for money.

Wow. This is the most helpful thing I think I've ever seen you post in this forum. I am stunned.

tiptap
08-28-2008, 02:39 PM
The only people excited about tax increases are the one's who's taxes remain unaffected. It's easy to write checks with other people's money......

I am excited and I will be paying more taxes.

tiptap
08-28-2008, 02:42 PM
BREAKING DOWN THE NUMBERS
Here's how the average tax bill could change in 2009 if either John McCain's or Barack Obama's tax proposals were fully in place.
__________MCCAIN_________________OBAMA
Income__________Avg. tax bill________Avg. tax bill
Over $2.9M__________-$269,364_______+$701,885
$603K and up__________-$45,361_______+$115,974
$227K-$603K__________-$7,871_______+$12
$161K-$227K__________-$4,380_______-$2,789
$112K-$161K__________-$2,614_______-$2,204
$66K-$112K__________-$1,009_______-$1,290
$38K-$66K __________-$319_______-$1,042
$19K-$38K __________-$113_______-$892
Under $19K_________-$19________ -$567

http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/?postversion=2008061113

tiptap
08-28-2008, 02:51 PM
The only people excited about tax increases are the one's who's taxes remain unaffected. It's easy to write checks with other people's money......

And of course that is what I've thought all along in our trillion dollar war.

tiptap
08-28-2008, 02:52 PM
The American lives were just frosting on the flakes.

SBK
08-28-2008, 02:53 PM
I am excited and I will be paying more taxes.

This strikes me as funny. Am I the only one?

tiptap
08-28-2008, 02:56 PM
You think the government is incapable of doing anything well. I think it is the people. As such you choose dopes who prove your point and I choose dweebs who will succeed.

Garcia Bronco
08-28-2008, 02:59 PM
You think the government is incapable of doing anything well. I think it is the people. As such you choose dopes who prove your point and I choose dweebs who will succeed.


The reason it doesn't work is there is zero accountability and it's not designed nor wanted for the things it attempts. Like any system it will collapse on itself.

SBK
08-28-2008, 02:59 PM
You think the government is incapable of doing anything well. I think it is the people. As such you choose dopes who prove your point and I choose dweebs who will succeed.

Or we can go to a post office and find a world where both suck. :D