Tax Cut!

Christy

b*tch rocket
Yippeeeeeeeee! :banana: It passed! :banana: SHOW ME THE MONEY!!!! It's always a good day when the government is digging a little less deeper in my pockets! :banana:
 

jlabsher

Sorry about that chief.
Short term gain for long term pain. Even Warren Buffett said it was a bad idea. Especially after we just spent $90 BILLION trying to find WMDs. Just another reelection ploy
 

Christy

b*tch rocket
Originally posted by jlabsher
Short term gain for long term pain. Even Warren Buffett said it was a bad idea. Especially after we just spent $90 BILLION trying to find WMDs. Just another reelection ploy

:biteme: jla! You obviously must not be in the income bracket where it really is painful to shell out a good portion of your paycheck in taxes, or you're so stinkin wealthy that it simply doesn't matter to you. I'm tired of being raped by my government, and it's about time they start cutting back on what they take from me. :burning:
 

alex

Member
Whatever relief you will see will be short lived and the whole thing will be a roller coaster ride. One example - child credit. Goes up to $1000 for a few years, then drops to $750 then up again then levels out at $500. I believe the marriage penalty cuts are still a phased in process while the investors and rich get their cuts upfront.

If all of your investments are in 401k or IRA's I doubt there will be much of anything coming back to you unless you have a few kids.
 

Christy

b*tch rocket
Well I'll take whatever relief I can until I'm wealthy enough to be able to get into all those wiz bang tax shelters everyone talks about. :wink:
 

Kyle

ULTRA-F###ING-MAGA!
PREMO Member
That's great if you have kids.

Of course if you're single/nokids... You're still gonna get screwed for every dime you make. :burning:
 

demsformd

New Member
The Democratic tax plan included the accelerated child tax credit and it did not expire in their plan. The Democrats also proposed sending out a tax rebate in the $400 range to each taxpayer regardless of income.

To all of you who think that this tax cut is going to really affect you, let me ask is anyone in here a millionaire? Do any of you make a majority of your money on the stock market? The answer to those questions is most likely a no. The central piece of this tax cut is reduction of dividend taxes. Under this plan, the dividends that we receive will only be taxed at 15 percent or so. Well this plan is wonderful for some of us, i.e., the incredibly rich (e.g., the chairman of the Nike corporation will receive a $7 million tax cut here) but for average Joe, you get $15. Wow, go spend a night on the town. Aren't you all excited?
 

SmallTown

Football season!
Originally posted by demsformd
but for average Joe, you get $15. Wow, go spend a night on the town. Aren't you all excited?

Hey! Don't sound so sarcastic! If I catch the early show, that will get me another viewing of the matrix
 

sleuth

Livin' Like Thanksgivin'
Originally posted by demsformd
To all of you who think that this tax cut is going to really affect you, let me ask is anyone in here a millionaire? Do any of you make a majority of your money on the stock market? The answer to those questions is most likely a no. The central piece of this tax cut is reduction of dividend taxes. Under this plan, the dividends that we receive will only be taxed at 15 percent or so. Well this plan is wonderful for some of us, i.e., the incredibly rich (e.g., the chairman of the Nike corporation will receive a $7 million tax cut here) but for average Joe, you get $15. Wow, go spend a night on the town. Aren't you all excited?

What you fail to realize is that the corporations are not riding the backs of the common man... but rather... the comman man is riding the tails of the corporations...

more money in the rich man's pockets means more spending by the rich man pumped into the economy... which means more jobs...

when are people gonna realize that to punish the rich man because he's rich is counterproductive to a strong economy?

it doesn't take a rocket scientist to figure that out...
but if you had any doubts... i am one...
 

vraiblonde

Board Mommy
PREMO Member
Patron
Give up, Sleuth. People like Dems think wealthy people stick their money in their mattress. It doesn't occur to them that that money gets funnelled back into the economy. It also doesn't occur to them that if a company has a sweet tax break, they won't have to lay off as many employees when a crunch hits.

Liberals always think it's a zero-sum game.
 

demsformd

New Member
I guess that everyone here just forgot about the wondeful effects of the 2001 tax cut. Yup the thing that was going to create 800,000 jobs actually has caused nearly 2 million to be lost.
 

sleuth

Livin' Like Thanksgivin'
Dems,

"America's abundance was created not by public sacrifices to "the common good," but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America's industrialization. They gave the people better jobs, higher wages, and cheaper goods with every new machine they invented, with every scientific discovery or technological advance- and thus the whole country was moving forward and profiting, not suffering, every step of the way. "

"Economic power is exercised by means of a positive, by offering men a reward, an incentive, a payment, a value; political power is exercised by means of a negative, by the threat of punishment, injury, imprisonment, destruction. The businessman's tool is values; the bureaucrat's tool is fear. "

both quotes by Ayn Rand
 

Oz

You're all F'in Mad...
Taxes - when 50% of my wages go to Federal, State and Local government, and they need more, then something is wrong with Government. PLUS, look at your phone, electric, cellular, and other bills. They're filled with taxes, fees and tarriff's. Throw in property and sales tax, and government is just too darned big and inefficient.

I also like how media spins tax cuts. They say they "cost" the government billions. Anyone who thinks about taxation for the slightest moment would realize that every time the media says this, it really means that tax cuts actually SAVE billions for taxpayers. You and I get to KEEP BILLIONS instead of giving it to a dinosaur.

Make my government more efficient. I'd rather have managers who get a bonus on how efficiently they run their department rather than having those same managers go on a spending spree to prevent their budget from being cut...

Ugh... Taxes! Go G-Dubs! Give me my money back!
 

demsformd

New Member
Right now we are running a $400 billion deficit - the largest in history. I can understand if the Republicans want to cut taxes. I do not think it is the best way to stimulate the economy especially these dumbass ideas to cut dividend taxes when there is a much better system in which one can end the double taxation of the Social Security tax. Regardless, I can understand cutting taxes if along with it, the president were to propose cutting spending. Well, that certainly has not happened lately (budgets just keep getting bigger and bigger). For years I have been assailed as a tax and spend liberal. Well the conservatives are just tax cutters and spenders.

Bush's economic policy is a disgrace. For the first time since the Great Depression, the value of the dollar is deflating. The interest rate is at its lowest level in history yet still there is not significant action to take advantage of that. Our incomes become less and less valuable everyday.

Oz, you ain't gonna be getting much more this tax cut unless of course you are a millionaire. And our children will have large debts to pay off and where might they turn? The Social Security surplus. The Democratic plan was much fairer than this terrible tax cut for the rich and CEO's.
 

SmallTown

Football season!
Originally posted by Oz

Make my government more efficient. I'd rather have managers who get a bonus on how efficiently they run their department rather than having those same managers go on a spending spree to prevent their budget from being cut...

Ugh... Taxes! Go G-Dubs! Give me my money back!

That is the biggest key,as well as a big stumbling block for Bush. Even if you take away the sudden changes such as the war on terror, Bush hasn't done much to make things more efficient, thus being forced into one of the highest debts in history. I love a tax cut like everyone else does, but when the government isn't running any more efficiently, you have problems.
 

sleuth

Livin' Like Thanksgivin'
Dems,

Perhaps you'd be interested in cutting some of those social programs like Medicare and Medicaid... maybe Social Security, welfare, and a whole bunch of those other programs that cost the government billions of dollars.

There's some spending cuts that would reduce our deficit. :smile:
 
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