End Times and Current Events

General Category => The Economic Collapse => Topic started by: Mark on November 09, 2012, 01:26:57 pm



Title: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 09, 2012, 01:26:57 pm
OBAMA DEMANDS TAX HIKES...

Obama says deficit plan must include higher taxes for wealthy

President Obama called on Congress on Friday to reduce the deficit in “a balanced and responsible way” in his first public remarks since winning reelection.

The president said Congress should extend the current tax rates for 98 percent of Americans, but raise taxes on households with annual income of more than $250,000.


rest: http://thehill.com/blogs/on-the-money/domestic-taxes/267087-obama-says-deficit-plan-must-include-higher-taxes-for-wealthy


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 09, 2012, 01:28:07 pm
Obama: 'Majority of Americans Agree with My Approach'

President Barack Obama used his new political politician coming off his reelection win to assert his political position ahead of fiscal negotiations with Congress.

"On Tuesday night, we found out that the majority of Americans agree with my approach," Obama said in a statement delivered this afternoon in the White House. "And that includes Democrats, independents, and a lot of Republicans across the country, as well as independent economists and budget experts."

Obama's approach, as he detailed, to the looming fiscal issues is "to combine spending cuts with revenue -- and that means asking the wealthiest Americans to pay a little more in taxes."

"That’s how we can reduce the deficit while still making the investments we need to build a strong middle class and a strong economy.  That’s the only way we can still afford to train our workers, or help our kids pay for college, or make sure that good jobs in clean energy or high-tech manufacturing don’t end up in countries like China," the president said in his first public address since election night.

"Now, already, I’ve put forward a detailed plan that allows us to make these investments while reducing our deficit by $4 trillion over the next decade.  I want to be clear -- I’m not wedded to every detail of my plan.  I’m open to compromise.  I’m open to new ideas.  I’m committed to solving our fiscal challenges.  But I refuse to accept any approach that isn’t balanced.  I am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000, aren’t asked to pay a dime more in taxes.  I'm not going to do that."

Obama called raising taxes "a central question during the election."

http://www.weeklystandard.com/blogs/obama-majority-americans-agree-my-approach_662174.html


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 09, 2012, 01:39:14 pm
White House: Obama will veto any bill extending tax cuts for those making more than $250,000 - @AP

http://www.breakingnews.com/

(http://www.thelibertyvoice.com/wp-content/uploads/2012/02/king-obama.jpg)


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on November 09, 2012, 02:13:12 pm
I'm not a fan of the 2003 Bush tax cuts, period - however, as said in other threads, this has been a ticking time bomb waiting to explode(whenever they expire). In my corporate tax class back in 2003, I had an option to do my paper/presentation on this(but opted to do so on the flat tax). However, a classmate of mine then, who was a Republican voter, did her paper on this subject, and told me how she became against it after doing all the research, b/c it would create deficits for another generation.

Anyhow - all of this is by design - when 12/31/2012 comes around(assuming the "Mayans 12/21/12 prophecy" doesn't come to pass  :D ), don't be surprised to see both Obama and the GOP-lead House to come out and say "We can't come to an agreement".


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on November 09, 2012, 02:53:32 pm
It's the core theme behind socialism. Wealth Redistribution.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 15, 2012, 05:12:37 am
Obama to open talks with $1.6 trillion plan to raise taxes on corporations, wealthy

President Obama is taking a hard line with congressional Republicans heading into negotiations over the year-end “fiscal cliff,” making no opening concessions and calling for far more in new taxes than Republicans have so far been willing to consider.

Obama plans to open talks using his most recent budget proposal, which sought to raise taxes on corporations and the wealthy by $1.6 trillion over the next decade, White House press secretary Jay Carney said Tuesday. That’s double the sum that House Speaker John A. Boehner (R-Ohio) offered Obama during secret debt negotiations in 2011.

Obama has been pressing to let the George W. Bush-era tax cuts expire at the end of the year for the wealthiest 2 percent of the nation’s households, a tax hike adamantly opposed by Republicans. But Carney suggested that even the revenue generated by letting those tax cuts end would not be enough to tame the national debt and reenergize the economy.

Meanwhile, Treasury Secretary Timothy F. Geithner and other senior Democrats on Tuesday said Obama would not be willing to maintain the Bush tax rates in exchange for a cap on deductions for households earning more than $250,000 a year, a leading Republican alternative.

“I don’t see how you do this without higher rates. I don’t think there’s any feasible, realistic way to do it,” Geithner said at a conference in Washington. “When you take a cold, hard look at the amount of resources you can raise from that top 2 percent of Americans through limiting deductions, you will find yourself disappointed relative to the magnitude of the revenue increases that we need.”

Democrats said Obama is likely to maintain a tough stance Friday, when Boehner and other congressional leaders are due to gather at the White House for their first face-to-face discussions about how to avoid the fiscal cliff. Fresh off a resounding electoral victory in which they kept the White House and picked up seats in the House and Senate, Democrats said there is no reason to compromise now on a central plank of the president’s platform.

“It was an intrinsic part of his campaign, and the public supports it. So what more do you want?” said Rep. Sander M. Levin (D-Mich.), the senior Democrat on the tax-writing House Ways and Means Committee.

GOP reaction

Although Republicans have offered fresh revenue in a deal to avoid the fiscal cliff, they have not proposed a specific target. Boehner suggested that negotiations resume on terms discussed in 2011, when he offered to raise $800 billion over the next decade through a rewrite of the tax code. Senate Minority Leader Mitch McConnell (R-Ky.) endorsed that general idea Tuesday but warned Obama not to overplay his hand, noting that the president’s $1.6 trillion tax request failed to receive a single vote in Congress in the spring.

“We’re calling on him to lead, to take the initiative, propose a plan that’s actually designed to succeed,” McConnell said in a speech on the Senate floor. “I’m not asking the president . . . to adopt our principles. I’m simply asking him to respect our principles by not insisting that we compromise them. Because we won’t.”

rest: http://www.washingtonpost.com/business/economy/obama-to-open-fiscal-talks-with-plan-to-raise-taxes-on-wealthy/2012/11/13/9984cd78-2dc1-11e2-89d4-040c9330702a_story.html?wprss=rss_national


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on November 15, 2012, 08:22:37 am
Oddly, even "conservative" William Kristol(editor-in-chief of the Weekly Standard and FOX News contributor) endorses this idea.

Also, the GOP plans aren't any better - they want to at least some extent cut off the Sch A benefits like writing off mortgate deductions, charity contributions, etc, which have been nice incentives to all brackets.

Speaking of Sch A deductions, remember all those years when Churchianity pastors would preach how Christians need to tithe, and they end up getting blessings like nice tax refunds? Well...let's say these benefits slowly but surely get closed on the Sch As...it could potentially shipwreck the faith of these tithe-givers, the offering plates would plummet...


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 21, 2012, 06:03:27 am
They Are Going To Make It Nearly Impossible To Pass On A Farm Or A Business To Your Children

If you have a farm or a small business, would you like to pass it on to your children when you die?  Well, unless Congress does something, it is going to become much, much harder to do that starting next year.  Right now, there is a 5 million dollar estate tax exemption and anything above that is taxed at 35 percent.  But on January 1st, the exemption will go down to 1 million dollars and the tax rate will go up to 55 percent.  A lot of liberals are very excited about this, because they believe that the government will be soaking wealthy people like Warren Buffett and Bill Gates.  But the truth is that a lot of farms, ranches and small businesses will be absolutely devastated by this change in the tax law.  There are many farmers and ranchers out there today that do not make much money but are sitting on tracts of land that are worth millions of dollars.  According to the American Farm Bureau, approximately 97 percent of all farms and ranches in the United States would be subject to the estate tax if the exemption was reduced to just a million dollars.  That means that the children of these farmers and ranchers would be faced with a very cruel choice when it is time to inherit these farms and ranches.  Either they come up with enough money to pay the government about half of what the farm or ranch is worth, or they sell the farm or ranch that may have been in their family for generations.  Needless to say, most farm and ranch families do not have that kind of cash lying around.  Most of them are just barely making it from year to year.  So this change in the tax law is going to greatly accelerate the death of the family farm in America.  This is also going to devastate many family-owned small businesses.  Many small businesses don't make much money, but they have buildings or land or assets worth millions of dollars.  Children that may have wanted to continue the family legacy will be forced to sell because of the massive tax bill that they get from Uncle Sam.  This is an insidious cruelty, and it shows just how broken our system has become.

The desire to leave the wealth that you have worked so hard to accumulate all your life to your children is something that is common to virtually all human societies.  We want to know that future generations will be taken care of.

It is simply immoral for the federal government to swoop in and tax farms, ranches and small businesses that were intended to be passed down from parents to their children at a 55 percent tax rate.

A lot of the people that are going to be affected by this change are not "wealthy" at all.  A recent Fox News report examined what this change in the law is going to mean for rancher Kevin Kester and his family...

    Rancher Kevin Kester works dawn to dusk, drives a 12-year-old pick-up truck and earns less than a typical bureaucrat in Washington D.C., yet the federal government considers him rich enough to pay the estate tax -- also known as the "death tax."

Kester told Fox News that he has no doubt that his ranch will have to be sold when he dies just to pay the tax bill...

    "There is no way financially my kids can pay what the IRS is going to demand from them nine months after death and keep this ranch intact for their generation and future generations," said Kester, of the Bear Valley Ranch in Central California.

    Two decades ago, Kester paid the IRS $2 million when he inherited a 22,000-acre cattle ranch from his grandfather. Come January, the tax burden on his children will be more than $13 million.

Reading that should make you angry.  Every single year, thousands upon thousands of farms, ranches and small businesses are going to be lost to the federal tax monster.

It is almost as if the federal government does not want income-producing assets to remain in the hands of the "little guy".

What in the world are we supposed to do?

It isn't as if all of those farmers and ranchers can go off to the big cities and find good jobs.  As I wrote about yesterday, our politicians are standing aside as millions of our good jobs are shipped out of the country.

The cold, hard truth is that our system does not work for average Americans any longer.  Those that roll out of bed every morning, work hard and never complain always seem to get the short end of the stick.

The people that are the backbone of America are the ones that the government is always the hardest on.

Unfortunately, we have gotten to a point where the government is searching for more "revenue" from anywhere it can because it desperately needs more money.  U.S. government finances are a complete and total mess and we are drowning in the biggest ocean of debt the world has ever seen.

We are more than 16 trillion dollars in debt and there are more than 100 million Americans that are enrolled in at least one welfare program.

Someday has to pay for all this.

Middle class Americans are already hit with dozens of different taxes each year, and you can be certain that our politicians will continue to invent ways to extract even more "revenue" out of us.

And of course our politicians will never stop their wild spending.  Despite all of the negotiations that have taken place over the past couple of years, our spending problems just continue to grow.  For example, the federal budget deficit for the month of October was $120 billion, which was more than 20 percent larger than the federal budget deficit for October 2011 was.

So what is the solution?

Well, Treasury Secretary Timothy Geithner now says that he wants to eliminate the debt ceiling entirely.  He says that we should just have no limit and that the federal government should just be able to go into debt as much as it wants.

In the end, all of this debt is going to absolutely crush us.  We have literally destroyed the future of America, and yet most of the country still seems clueless about all of this.  The blind are leading the blind, and we are headed straight for complete and utter disaster.

One day, when people look back on this period in American history, what do you think people are going to say about us?

http://theeconomiccollapseblog.com/archives/they-are-going-to-make-it-nearly-impossible-to-pass-on-a-farm-or-a-business-to-your-children


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on November 22, 2012, 03:33:29 am
So what happened to the inheritance tax? Are they now calling it an "estate tax"? Or are there still both taxes?

There should be neither tax, and definately not at any rate near even 35%. That's just unacceptable, because based on what does the government get the idea to tax such things, and at such a high rate? It's theft plain and simple, especially when they have been taxing at such high rates and they still can't manage the tax income they get.

I never have understood how the government can lay claim to taxing something that is passed down to relatives, at any rate.

Same with taxing prize winnings. Where in the world do they get the idea they get any portion? It's not like people are trying to hide regular income! And it's surely not a scam to avoid paying taxes. It's not a set income at all, but a freak windfall, and the feds think they should get a cut at rates as high as 30-60%? That's just not right in any way. These kinds of things should never be taxed, like Canada. It's once in a lifetime at best, let people enjoy a moment for crying out loud!

All that stuff has already been taxed many times, and the property tax is due every year, but then that tax money doens't go to the federal government, it goes to the state, and I guess the feds want their cut, whether they are entitled or not.

All that federal tax taken from people, only to turn around and give it right back to the states in various forms of "entitlements" just makes no sense to me at all. But that's socialism for ya!

Take, take, take, and then get it all in a big federal pile, and start giving it back sparingly as they see fit. You pay in and pay in, only to see that money be given back out to somewhere else completely unrelated to your own situation. If that isn't socialism, I don't know what is!

It shouldn't, but this kind of stuff makes me so mad! >:(


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 26, 2012, 01:54:02 pm
Now Obama wants your 401(k)
Treasury, Labor on path to nationalize retirement


hes going to get it too...

Two years ago, as WND reported, the Obama administration was proceeding with a novel way to finance trillion-dollar budget deficits by forcing IRA and 401(k) holders to buy Treasury bonds by mandating the placement of government-structured annuities in their retirement accounts.

rest: http://www.wnd.com/2012/11/now-obama-wants-your-401k/?cat_orig=politics


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on November 26, 2012, 02:27:10 pm
Now Warren Buffet wants tax hikes on the rich
http://finance.yahoo.com/blogs/daily-ticker/why-warren-buffett-raising-taxes-rich-144852573.html


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on November 27, 2012, 02:45:49 am
Oh, no question they will get their "tax hike". I do't see them doing diddly on the expiring Bush cuts, so lookout America! That tax bill is going to jump big time.

The really sad thing is, these new or higher taxes won't do anything except take money from citizens. The national debt is so huge, it won't make a dent in what the US owes. The US would have to cut MAJOR expenses across the board, to counter how much they have been increasing their spending across the board in government.

I'm no accountant or tax expert, but this stuff doesn't take an expert to figure out the basic math!

Actually, it's very simple; take in no more than you spend. And spend no more than you have. But that doesn't work in a debt-based system that we have had forced on us. It's designed to raises expenses indefinately.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 29, 2012, 09:08:10 am
TAX NOW, CUT 'LATER'

Taxes will go up just shy of $1.2 trillion — the middle ground of what President Barack Obama wants and what Republicans say they could stomach. Entitlement programs, mainly Medicare, will be cut by no less than $400 billion — and perhaps a lot more, to get Republicans to swallow those tax hikes. There will be at least $1.2 trillion in spending cuts and “war savings.” And any final deal will come not by a group effort but in a private deal between two men: Obama and House Speaker John Boehner (R-Ohio). The two men had what one insider described as a short, curt conversation Wednesday night — but the private lines of communications remain very much open.

Read more: http://www.politico.com/story/2012/11/84364.html#ixzz2Dcmm954D


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 29, 2012, 01:35:14 pm
WH PLAYS 'CHICKEN': Demands tax rate hikes...
http://thehill.com/blogs/on-the-money/domestic-taxes/270139-white-house-no-deal-unless-tax-rates-on-top-earners-go-up

'Fiscal Cliff' Could Put Millions of Taxpayers Into 'AMT Shock'...
http://www.cnbc.com/id/49981664

Senator Blasts 'Secret' Fiscal Cliff Negotiations
http://www.weeklystandard.com/blogs/senator-blasts-secret-fiscal-cliff-negotations_664187.html


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on November 30, 2012, 08:48:01 pm
Pelosi will try to force House vote to extend middle-class tax rates

House Minority Leader Nancy Pelosi will try to force a vote on the House floor to extend current tax rates for the middle class next week if Republicans do not act, the California Democrat announced on Friday.

During a press conference on Capitol Hill, Pelosi called on House Republicans, who control the chamber, to hold another floor vote on whether to extend current tax rates for individuals who earn $200,000 or less and families making $250,000 or less. If they don't, Pelosi vowed to file a "discharge petition" that would force a vote if 218 House members sign it, which is unlikely.

The bill Pelosi wants to see put to a vote is identical to a measure passed in the Democrat-controlled Senate in July that extends the rates for middle-income earners for one year. House Republicans responded by rejecting the bill and passing their own measure that extends current tax rates for all income brackets.

rest: http://news.yahoo.com/blogs/ticket/pelosi-try-force-house-vote-extend-middle-class-212818603--election.html


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on November 30, 2012, 09:27:17 pm
Well, they're doing one heck of a job making this "dog and pony show" looking like an all-out-tug-of-war.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 06, 2012, 09:58:53 am
http://www.reuters.com/article/2012/12/03/us-usa-tax-irs-idUSBRE8B21HA20121203

IRS aims to clarify investment income tax under healthcare law

12/3/12

Reuters) - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law.

The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income.

The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI.

The tax applies to a broad range of investment securities ranging from stocks and bonds to commodity securities and specialized derivatives.

The 159 pages of rules spell out when the tax applies to trusts and annuities, as well as to individual securities traders.

Released late on Friday, the new regulations include a 0.9 percent healthcare tax on wages for high-income individuals.

Both sets of rules will be published on Wednesday in the Federal Register.

The proposed rules are effective starting January 1. Before making the rules final, the IRS will take public comments and hold hearings in April.

Together, the two taxes are estimated to raise $317.7 billion over 10 years, according to a Joint Committee on Taxation analysis released in June.

To illustrate when the tax applies, the IRS offered an example of a taxpayer filing as a single individual who makes $180,000 in wage income plus $90,000 from investment income. The individual's modified adjusted gross income is $270,000.

The 3.8 percent tax applies to the $70,000, and the individual would pay $2,660 in surtaxes, the IRS said.

The IRS plans to release a new form for taxpayers to fill out for this tax when filing 2013 returns.

The new rules leave some questions unanswered, tax experts said. It was unclear how rental income will be treated under the new rules, said Michael Grace, managing director at Milbank, Tweed, Hadley & McCloy LLP law firm in Washington.

"The proposed regulations surely will increase tax compliance burdens for individuals," said Grace, a former IRS official. "There's clearly some drafting left to be done."

(Reporting by Patrick Temple-West; Editing by Howard Goller and Jan Paschal)



Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 07, 2012, 10:44:04 am
http://www.infowars.com/will-sick-babies-be-starved-to-death-under-obamacare/

Will Sick Babies Be Starved to Death Under Obamacare?

Paul Joseph Watson
 Infowars.com
 November 30, 2012

A physician has told the British Medical Journal about the “unique horror” of watching a newborn baby shrivel up and die under a cost-cutting system of socialized healthcare that withdraws feeding tubes from sick and disabled babies, a method that could be replicated in the United States under Obamacare.

After speaking with doctors who have blown the whistle on how babies are being starved and dehydrated to death in British hospitals, an investigation by the Daily Mail has revealed that the controversial Liverpool Care Pathway end of life regime is being used to kill disabled newborns and young children. It was previously thought that the method was only being used on elderly and terminally ill adult patients.
 
The method has been criticized as a form of euthanasia because its primary purpose is to kill off patients quicker so as to free up more hospital beds and resources.
 
One physician spoke of how parents who gave permission for their babies to be put on the ‘pathway to death’ were making the decision without properly considering the abhorrent reality of what dehydration and starvation does to the human body.
 
“I know, as they cannot, the unique horror of witnessing a child become smaller and shrunken, as the only route out of a life that has become excruciating to the patient or to the parents who love their baby,” the doctor writes. “I reflect on how sanitised this experience seems within the literature about making this decision.”

more


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on December 09, 2012, 06:42:14 am
Show This To Anyone That Believes That Taxes Are Too Low

Every year average Americans pay dozens of different types of taxes, and yet many of our politicians are very open about the fact that they want to raise rates even higher and invent even more ways to bleed us all dry.  Someday historians will look back and be absolutely amazed at how stupid we were.  We have the most complicated tax code in all of human history and at this point the federal tax code is more than four times as long as the entire collected works of William Shakespeare.  In many places it is so incomprehensible that nobody actually understands what it means and the entire thing is absolutely riddled with loopholes from the beginning to the end.  Trust me, I used to study this stuff.  Nobody could ever read the entire thing - it is close to four million words long.  But that is just for federal income taxes.  We have a number of other taxes taken out of our paychecks such as state income taxes, Social Security taxes and Medicare taxes.  Sadly, the taxes taken out of your paycheck are only just the beginning.  As I will detail below, there are more than 40 other taxes that average Americans pay each year in addition to the taxes that are taken out of our paychecks.  Our politicians love to find ways that they can "raise revenue" without us feeling it.  Most people just focus on income tax rates and they forget about the dozens of other ways that they are bleeding us dry.  It really is kind of like "death by a thousand cuts", and of course the middle class gets hit the hardest.  The poor are exempt from many taxes, the ultra-wealthy are masters at cheating the system and avoiding taxes, and so the most pain is always felt by those in the middle.  Hard working middle class families and small businesses all over America are being financially raped by this insidious system.  If you know of anyone out there that believes that taxes are "too low", please show this article to them.

Just counting federal, state and local income taxes, some Americans will be paying marginal tax rates of over 50 percent in 2013.  But like I said, there are a lot of other taxes we pay than just those.

The following are 44 more taxes that at least some average Americans are paying now or will be paying soon other than federal, state and local income taxes...

#1 Building Permit Taxes

#2 Capital Gains Taxes

#3 Cigarette Taxes

#4 Court Fines (indirect taxes)

#5 Dog License Taxes

#6 Drivers License Fees (another form of taxation)

#7 Federal Unemployment Taxes

#8 Fishing License Taxes

#9 Food License Taxes

#10 Gasoline Taxes

#11 Gift Taxes

#12 Hunting License Taxes

#13 Inheritance Taxes

#14 Inventory Taxes

#15 IRS Interest Charges (tax on top of tax)

#16 IRS Penalties (tax on top of tax)

#17 Liquor Taxes

#18 Luxury Taxes

#19 Marriage License Taxes

#20 Medicare Taxes

#21 Medicare Tax Surcharge On High Earning Americans Under Obamacare

#22 Obamacare Individual Mandate Excise Tax (if you don't buy "qualifying" health insurance under Obamacare you will have to pay an additional tax)

#23 Obamacare Surtax On Investment Income (a new 3.8% surtax on investment income that goes into effect next year)

#24 Property Taxes

#25 Recreational Vehicle Taxes

#26 Toll Booth Taxes

#27 Sales Taxes

#28 Self-Employment Taxes

#29 School Taxes

#30 Septic Permit Taxes

#31 Service Charge Taxes

#32 Social Security Taxes

#33 State Unemployment Taxes (SUTA)

#34 Tanning Tax (a new Obamacare tax on tanning services)

#35 Telephone Federal Excise Taxes

#36 Telephone Federal Universal Service Fee Taxes

#37 Telephone Minimum Usage Surcharge Taxes

#38 Telephone State And Local Taxes

#39 Tire Taxes

#40 Tolls (another form of taxation)

#41 Traffic Fines (indirect taxation)

#42 Utility Taxes

#43 Vehicle Registration Taxes

#44 Workers Compensation Taxes

Sadly, this list is far from complete.  There are many more forms of taxation that could be included.

When you account for all forms of taxation, there are some Americans that "play by the rules" that are sending more than half of their incomes to the government.

This is why "tax avoidance" has become a multi-billion dollar industry in the United States.  People are sick and tired of being drained dry by a system that is way too complicated and way too unfair.

Posted below are 30 reasons why the U.S. tax system is stupid.  Some of these facts I have discussed before, and some of them are new.  You might want to be sitting down while you are reading this, because this list is likely to make many of you very angry...

1. Thanks to Proposition 30, many high income residents of California will be paying marginal income tax rates of 51.9% in 2013 if the fiscal cliff is not avoided.  Keep in mind that the 51.9% figure only includes federal and state income taxes.  It does not count any of the dozens of other taxes that we pay each year.

2. If a fiscal cliff deal is not reached, many residents of New York and Hawaii will also be paying marginal income tax rates of more than 50 percent.

3. If Americans fully funded the government through their taxes without any borrowing, the average American would have to work for 197 days just to meet the expenses incurred by government.

4. The U.S. tax code is now 3.8 million words long.  If you took all of William Shakespeare's works and collected them together, the entire collection would only be about 900,000 words long.

5. According to the National Taxpayers Union, U.S. taxpayers spend more than 7.6 billion hours complying with federal tax requirements each year.  Imagine what our society would look like if all of that time was spent on more economically profitable activities.

6. 75 years ago, the instructions for Form 1040 were two pages long.  Today, they are 189 pages long.

7. There have been 4,428 changes to the tax code over the last decade.  It is incredibly costly to change tax software, tax manuals and tax instruction booklets for all of those changes.

8. According to the National Taxpayers Union, the IRS currently has 1,999 different publications, forms, and instruction sheets that you can download from the IRS website.

9. Our tax system has become so complicated that it is almost impossible to file your taxes correctly.  For example, back in 1998 Money Magazine had 46 different tax professionals complete a tax return for a hypothetical household.  All 46 of them came up with a different result.

10. In 2009, PC World had five of the most popular tax preparation software websites prepare a tax return for a hypothetical household.  All five of them came up with a different result.

11. The IRS spends $2.45 for every $100 that it collects in taxes.  That is incredibly inefficient.

12. According to The Tax Foundation, the average American has to work until April 17th just to pay federal, state, and local taxes.  Back in 1900, "Tax Freedom Day" came on January 22nd.

13. When the U.S. government first implemented a personal income tax back in 1913, the vast majority of the population paid a rate of just 1 percent, and the highest marginal tax rate was just 7 percent.

14. Residents of New Jersey pay $1.64 in taxes for every $1.00 of federal spending that they get back.

15. The United States is the only nation on the planet that tries to tax citizens on what they earn in foreign countries.

16. According to Forbes, the 400 highest earning Americans pay an average federal income tax rate of just 18 percent.

17. Warren Buffett had an effective federal income tax rate of just 17.4 percent for 2010.

18. The top 20 percent of all income earners in the United States pay approximately 86 percent of all federal income taxes.

19. Sadly, as Bill Whittle has shown, you could take every single penny that every American earns above $250,000 and it would only fund about 38 percent of the federal budget.

20. The United States has the highest corporate tax rate in the world (35 percent).  In Ireland, the corporate tax rate is only 12.5 percent.  This is causing thousands of corporations to move operations out of the United States and into other countries.

21. Some tax havens are doing a booming business in setting up sham headquarters for U.S. corporations.  For example, the city of Zug, Switzerland only has a population of 26,000 people but it is the headquarters for 30,000 companies.

22. In 1950, corporate taxes accounted for about 30 percent of all federal revenue.  In 2012, corporate taxes will account for less than 7 percent of all federal revenue.

23. In a previous article, I discussed how many of our largest corporations make huge profits and yet pay less than nothing in taxes....

What U.S. corporations are able to get away with is absolutely amazing.

The following figures come directly out of a report by Citizens for Tax Justice.  These are combined figures for the tax years 2008, 2009 and 2010.

During those three years, all of the corporations below made a lot of money.  Yet all of them paid net taxes that were below zero for those three years combined.

How is that possible?  Well, it turns out that instead of paying in taxes to the federal government, they were actually getting money back.

So for these corporations, their rate of taxation was actually below zero.

If you have not seen these before, you are going to have a hard time believing some of these statistics.....

*Honeywell*

Profits: $4.9 billion

Taxes: -$34 million

*Fed Ex*

Profits: $3 billion

Taxes: -$23 million

*Wells Fargo*

Profits: $49.37 billion

Taxes: -$681 million

*Boeing*

Profits: $9.7 billion

Taxes: -$178 million

*Verizon*

Profits: $32.5 billion

Taxes: -$951 million

*Dupont*

Profits: $2.1 billion

Taxes -$72 million

*American Electric Power*

Profits: $5.89 billion

Taxes -$545 million

*General Electric*

Profits: $7.7 billion

Taxes: -$4.7 billion

Are you starting to get the picture?
24. Exxon-Mobil paid $15 billion in taxes in 2009, but not a single penny went to the U.S. government.

25. If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.

26. The number of traffic accidents spikes each year right around April 15th.  The following is from a recent Bloomberg article....

Deaths from traffic accidents around April 15, traditionally the last day to file individual income taxes in the U.S., rose 6 percent on average on each of the last 30 years of tax filing days compared with a day during the week prior and a week later, according to research published in the Journal of the American Medical Association.
27. The elite are not stupid.  They are not just going to sit there and let our politicians tax them into oblivion.  In fact, many of them will openly cheat if that is what it takes to avoid taxes.  Most of them have become masters at avoiding taxes or they have hired people that do that kind of work for them.  According to the IMF, the global elite are holding a total of 18 trillion dollars in offshore banking havens such as the Cayman Islands.

28. It has been reported that 80 percent of all international banking transactions involve offshore banks.  A whopping 1.4 trillion dollars is being held in offshore banks in the Cayman Islands alone.

29. An article that appeared in the Guardian estimated that a third of all the wealth on the entire planet is being kept in offshore banks.  One of the primary reasons for this is tax avoidance.

30. If a deal is not reached and the "fiscal cliff" is not avoided, the average American taxpayer can expect to pay about $3,500 more in taxes next year.

Clearly, the tax system that we are using right now is not working.

The big corporations and the ultra-wealthy have mastered the art of moving money offshore and using loopholes to make their tax burdens as low as possible.

So our politicians just keep finding more ways to squeeze more money out of the middle class and small businesses in order to make up the difference.

If you are a middle class American and you don't think that you are paying enough taxes already then you are one sick puppy.

They are draining blood from us in dozens of different ways, and they are constantly inventing new ways to tax all of us.

So what is the solution?

Well, a good first step would be to completely abolish the federal income tax.  It is terribly inefficient, it is way too complicated and it is terribly unfair.  It rewards those that know how to exploit loopholes and those that know how to cheat the system.  Those that "play by the rules" always get the short end of the stick.

Our government could easily be funded by tariffs and other forms of taxation that are more equitable.  There were vast stretches of American history when there was no federal income tax, and the federal government did just fine.

And of course one of our biggest problems is that the federal government simply spends way, way too much money.  There is not a single category of government spending that does not need to be reduced and/or made much more efficient.  The amount of waste that goes on in Washington D.C. is absolutely mind boggling.

Unfortunately, both political parties seem content to be married to the current system so I would not expect any significant changes any time soon.

So what do you think about all this?

Do you believe that taxes are too low, or do you believe that they are too high?

Please leave a comment below with your thoughts, and please share this article with as many people as you can.

http://theeconomiccollapseblog.com/archives/show-this-to-anyone-that-believes-that-taxes-are-too-low


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on December 13, 2012, 06:20:07 am
Congress And White House To Put Thousands Of Charities Out Of Business

Most charities in the United States rely on donations as their primary source of income.  When donations are made to a non-profit charity, they become a tax deduction to the person or corporation giving the donation.  Subsequently, many people only give donations because of the tax deduction they receive.   This can be seen in the fact that many non-profit charities receive a third to half of their annual donations in the month December as people begin to think about income taxes and the need for deductions. Now, those tax deductions are in danger of being reduced or disappearing all together and if they do, a large percentage of donations will also disappear resulting in many a charity having to close their doors and it all has to do with the infamous fiscal cliff. One of the economic plans being put forth by Democrats calls for the reduction of allowable charitable tax deductions.  Others are proposing a cap on the amount of allowable charitable tax deductions and yet others are abdicating dropping all tax deductions for charitable donations.

http://godfatherpolitics.com/8437/congress-and-white-house-to-put-thousands-of-charities-out-of-business/


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 13, 2012, 09:22:45 am
Congress And White House To Put Thousands Of Charities Out Of Business

Most charities in the United States rely on donations as their primary source of income.  When donations are made to a non-profit charity, they become a tax deduction to the person or corporation giving the donation.  Subsequently, many people only give donations because of the tax deduction they receive.   This can be seen in the fact that many non-profit charities receive a third to half of their annual donations in the month December as people begin to think about income taxes and the need for deductions. Now, those tax deductions are in danger of being reduced or disappearing all together and if they do, a large percentage of donations will also disappear resulting in many a charity having to close their doors and it all has to do with the infamous fiscal cliff. One of the economic plans being put forth by Democrats calls for the reduction of allowable charitable tax deductions.  Others are proposing a cap on the amount of allowable charitable tax deductions and yet others are abdicating dropping all tax deductions for charitable donations.

http://godfatherpolitics.com/8437/congress-and-white-house-to-put-thousands-of-charities-out-of-business/

The 501c3 church had no business doing this to begin with - Jesus Christ specifically says that when thou doest alms, you don't let your left hand know what your right hand doeth, neither do you expect anything in return.

Assuming the 12/21/12 Mayan date doesn't come to pass  :D , 2013 is really going to be an interesting year. Could we see "bailouts" for these 501c3 corporate, non-profit entities? Yes, even some of these end times discernment ministries(a few of which I happen to like, FWIW), are 501c3s...we will see which ones are the true sheep, and which ones's true colors will finally come out.

Beware of those that seduceth you...


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on December 13, 2012, 11:57:37 am
This whole deal is smoke and mirrors. The people who are concerned about this tax hike on the "rich" are the ones without an accountant. No way this will have any real affect financially on the wealthy. All they will do is shuffle their money around to fit in another loophole, and in the end, only the "not rich" will get hit, as they don't have the financial means to shuffle the money around they don't have.

To cut out, or reduce the charity write off, that would have it's most impact on the charities themselves, I agree. A large part of donations comes from big corporations that are trying to unload a bunch of product they couldn't sell, so they at least get some money back from all that stuff they got stuck holding in their warehouses.

People will simply reduce or stop giving for the tax break that isn't there, and put that money somewhere else. Most give for the tax break, not because they are being charitable.

We know that we are to give, expecting nothing in return, and to do our alms in secret.

The world does it for to be seen of men, and the tax break they get from Caesar.

Personally, if it were possible to change it, what needs to be done about taxes is cut out ALL deductions across the board for everybody, individuals and companies. Then go to a straight 10% income tax. No more refunds, and no more having to pay more taxes at filing. And that would also mean ALL taxes would be collected. There would be none of this bull of hundreds of billions in taxes uncollected. Take the tax upfront and be done with it. Basically like a sales tax, which also would have no deductions. Pay a flat tax of say 5%.

That would mean then more money in the pockets of citizens, and more money going to the states and not to the federal government, only for the feds to give it right back selectively.

As it is, we have situations like over Sandy and other disasters where the whole country has their money given to select people, whether the "giver" wants to or not.

I know I personally have no desire to rebuild rich people's houses on the Jersey shore! They shouldn't have built their "summer cottage" right next to the ocean. Virtually all those folks have insurance, so who is really being helped out?

WAY too much money is going to the feds, and in turn being used against the people. We the people are literally paying for their own tyranny!


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on December 30, 2012, 06:51:02 am
How the 'Cliff' Will Hit You

But the Tax Policy Center says that on average, taxes would go up for every income group, from the poorest taxpayers to the most wealthy:


Americans in the lowest 20 percent of the income scale could pay an average of about $400 more in taxes.

Middle-income households could pay about $2,000 more in taxes, on average.

The top 20 percent of taxpayers could pay about $14,000 more a year in taxes, on average.

The 1 percenters could pay an average of $120,000 more in taxes.


Here's a look at some of the biggest issues likely to affect the largest groups of taxpayers if Congress cannot make a deal.

Tax rates will go up: If no deal is made, taxpayers can expect their tax rate to rise no matter what income group they fall in, said Roberton Williams, senior fellow with the Tax Policy Institute. That's because previously passed rate cuts would expire.


"Everyone who has taxable income will see a tax increase because of the rates," Williams said.


Payroll taxes: For the past two years, the employee's share of taxes paid for Social Security has been set at 4.2 percent instead of the previous level of 6.2 percent. That temporary tax cut would expire without a new deal, meaning almost everyone's taxes would rise by 2 percentage points.


Translation: Your paycheck would be a little bit smaller.

"That's the thing that people will see first," Williams said.

Alternative Minimum Tax: The Alternative Minimum Tax was originally designed so that wealthy taxpayers would be forced to pay a minimum level of taxes no matter what. But because it was not created to account for inflation, over the years it has threatened to affect an ever-bigger group of people.

Congress has previously passed temporary "patches" to keep lower-income households from having to pay more taxes. If no deal is reached this year, the latest patch would expire, and the Internal Revenue Service says around 30 million additional taxpayers would become subject to the AMT.

Of course, every taxpayer's individual circumstances are different. To see how your family's tax rates could be affected, you can check out the Tax Policy Center's individualized tax calculator.

Taxes aren't the only pocketbook problem Americans could face if a deal isn't reached, because so much government spending is tied up in reaching a deal. But the most widespread effect would probably be on people who have been unemployed for a long time.

Unemployment benefits: About 2.1 million unemployed Americans are scheduled to lose federally funded unemployment compensation if Congress can't reach a deal to extend the benefits plan by the end of the year. President Obama has said he'd like to see those benefits extended as part of a fiscal cliff deal.

The federally funded unemployment benefit extensions were introduced in 2008 while the country was in the depths of the recession. The extended benefits kick in after an unemployed person has exhausted his or her 26 weeks of state benefits. The exact amount of additional compensation depends on the unemployment rate in the person's home state.

The unemployment rate has fallen sharply in recent months, but long-term unemployment remains a major problem. About 4.8 million people, or 40 percent of the total number of people who were unemployed in November, had been jobless for 27 weeks or more.


FULL ARTICLE: http://www.cnbc.com/id/100343488


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on December 30, 2012, 04:18:02 pm
'Major setback' in fiscal cliff talks...
http://www.politico.com/story/2012/12/fiscal-cliff-no-deal-as-final-hour-approaches-85587.html

McConnell reaches out to Biden -- after dysfunctional Reid botch...
http://www.realclearpolitics.com/video/2012/12/30/sen_reid_to_gop_at_this_stage_were_not_able_to_make_a_counteroffer.html

**Updates**
http://www.washingtonpost.com/blogs/post-politics/wp/tag/fiscal-cliff/

'Tea Party' Members in House Appear To Hold Key Votes...
http://www.foxnews.com/politics/2012/12/29/death-tea-party-appears-exaggerated-members-in-house-appear-to-hold-key-fiscal/

Dems in House Eat Ice Cream...  :o  :o  :o
http://www.washingtonpost.com/blogs/post-politics/wp/tag/fiscal-cliff/

(http://nannystateliberationfront.files.wordpress.com/2010/06/obama-ice-cream.jpg)

House prepares three 'milk cliff' bills for votes...
http://thehill.com/blogs/on-the-money/economy/274883-house-prepares-milk-cliff-bills-for-votes

DOW FUTURES -200...
http://www.cnbc.com/id/17689937

Lieberman: No deal tonight...  
http://www.washingtonpost.com/blogs/post-politics/wp/tag/fiscal-cliff/


KISS THE PRESS: President blames GOP for fiscal 'cliff' standoff... you knew that was coming
http://thehill.com/homenews/administration/274877-obama-pressure-is-on-congress-to-reach-fiscal-deal-before-deadline


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 30, 2012, 07:26:03 pm
Wasn't Congress supposed to meet tonight at 6:30pm? No deal tonight? Does this mean they're watching the Cowboys/Redskins game tonight instead? >:(


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on December 31, 2012, 07:46:40 am
Those clowns aren't trying to "negotiate". I don't believe that for a nanosecond.

It's all a stage show in my mind to make it look like they are trying, when I believe they already have had a plan ironed out and in place, ready to implement. That's their sop. Haven't we noticed over the years how something is an issue, and then they reveal some plan and put it into action almost over night? They've done that on several major bills and one would ask, " When did they have the time to write that bill? They didn't. They already had it written and approved. I think the same thing is happening with this cliff sham.

So I guess it's today or not at all for any deal? Like it makes any difference.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 31, 2012, 11:47:59 am
The Two Sides Are Now Absurdly Close ::) On A Fiscal Cliff Deal — Here's The Latest Offer

http://finance.yahoo.com/news/two-sides-now-absurdly-close-124000145.html


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 31, 2012, 12:03:00 pm
Those clowns aren't trying to "negotiate". I don't believe that for a nanosecond.

It's all a stage show in my mind to make it look like they are trying, when I believe they already have had a plan ironed out and in place, ready to implement. That's their sop. Haven't we noticed over the years how something is an issue, and then they reveal some plan and put it into action almost over night? They've done that on several major bills and one would ask, " When did they have the time to write that bill? They didn't. They already had it written and approved. I think the same thing is happening with this cliff sham.

So I guess it's today or not at all for any deal? Like it makes any difference.

Yep, basically they do all of this dog-and-pony-showing to spread a bit of fear among the masses, ultimately to get everyone on their knees to them.

It's like this every election cycle - the NWO minions will do all they can to stir up the anxiety of the hearts of the masses, but their "winner" is already in the bag even before the primaries start.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 31, 2012, 03:50:07 pm
http://news.yahoo.com/house-wont-vote-midnight-cliff-deal-211949556--politics.html

12/31/12

House won't vote before midnight on 'cliff' deal

WASHINGTON (AP) — The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff."
 
House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day.
 
President Barack Obama and Senate Republican leader Mitch McConnell said Monday they are near a deal to avoid wide-ranging tax increases and spending cuts — the fiscal cliff — that take effect with the new year.
 
Both men said they were still bargaining over whether — and how — to avoid $109 billion in cuts to defense and domestic programs that take effect on Wednesday.
 
It remained unclear whether the Senate would vote Monday.
 
Congress could pass later legislation retroactively blocking the tax hikes and spending cuts.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on December 31, 2012, 03:52:35 pm
Breaking: CNBC's Harwood: No Vote in the House Tonight - U.S. Will Go Over the Fiscal Cliff

US House won't vote before midnight deadline on 'fiscal cliff' deal; Congress could pass bill later - @AP

http://bigstory.ap.org/article/house-wont-vote-midnight-cliff-deal


OBAMA DEMANDS MORE TAX HIKES NEXT YEAR

http://www.rollcall.com/news/obama_wants_more_revenue_next_year-220427-1.html?pos=hln


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on December 31, 2012, 09:04:54 pm
Tentative ‘fiscal cliff’ deal reached in Senate

12/31/12

http://news.yahoo.com/blogs/ticket/last-minute-fiscal-cliff-deal-outlines-emerging-181845501--politics.html

Racing to beat a midnight deadline, Vice President Joe Biden arrived on Capitol Hill Monday night to sell wary Democratic senators on an 11th-hour deal to avert income tax hikes on all but a sliver of the richest Americans.
 
Grinning broadly, Biden ignored reporters questions on whether he and Republican Senate Minority Leader Mitch McConnell had finally forged a compromise to avoid the "fiscal cliff" that threatened the still-fragile economy with a new recession. "Happy new year," he replied.
 
But a Democratic Senate aide told Yahoo News that "the White House and Republicans have a deal," while a source familiar with the negotiations said President Barack Obama had discussed the compromise with Democratic Senate Majority Leader Harry Reid and Democratic House Minority Leader Nancy Pelosi and "they both signed off."
 
The apparent agreement set up a Senate vote late Monday or possibly in the wee hours of Tuesday. The House of Representatives was due back at noon on Tuesday to take it up.
 
Under the compromise arrangement, taxes would rise on income above $400,000 for individuals and $450,000 for households, while exemptions and deductions the wealthiest Americans use to reduce their tax bill would face new limits. The accord would also raise the taxes paid on large inheritances from 35% to 40% for estates over $5 million. And it would extend by one year unemployment benefits for some two million Americans.
 
Biden, a 36-year Senate veteran, worked out the agreement with McConnell after talks between Obama and Republican House Speaker John Boehner collapsed.
 
But with time running short, the country appeared on track to go over the cliff at midnight -- though quick congressional action, and the fact that financial markets were to be closed on New Year's Day, were expected to limit the damage.
 
“Today, it appears that an agreement to prevent this New Year's tax hike is within sight, but it's not done,” Obama said in hastily announced midday remarks at the White House. “There are still issues left to resolve, but we're hopeful that Congress can get it done – but it’s not done.”
 
"One thing we can count on with respect to this Congress is that if there is even one second left before you have to do what you’re supposed to do, they will use that last second," he said.
 
Obama’s remarks – by turns scolding, triumphant, and mocking of Congress – came after talks between McConnell and Biden appeared to seal the breakthrough deal.
 
Efforts to modify the first installment of $1.2 trillion in cuts to domestic and defense programs over 10 years -- the other portion of the “fiscal cliff,” known as sequestration -- had proved a sticking point late in the game. Democrats had sought a year-long freeze but appeared to have caved to Republican pressure and signed on to just a two-month delay. That would put the next battle over those cuts right around the time that the White House and its Republican foes are battling it out over whether to raise the country's debt limit. Republicans have vowed to push for more spending cuts, equivalent to the amount of new borrowing. Obama has vowed not to negotiate as he did in 2011, when a bruising fight threatened the first-ever default on America's obligations and resulted in the first-ever downgrade of the country's credit rating.
 
Experts had warned that the fiscal cliff's tax increases and spending cuts, taken together, could plunge the still-fragile economy into a new recession.
 
“I can report that we’ve reached an agreement on all of the tax issues,” McConnell said on the Senate floor. “We are very, very close to an agreement.”
 
The Kentucky Republican later briefed Republicans on the details of the deal. Lawmakers emerged from that closed-door session offered hopeful appraisals that, after clearing a few last-minute hurdles, they could vote on New Year’s Eve or with 2013 just hours old.
 
“Tonight, I hope,” Republican Senator Bob Corker of Tennessee told reporters. “It may be at 1, 2, 3, 4 in the morning. Oh, I guess that’s technically tomorrow.”
 
Republican Senators said negotiators were still working on a way to forestall two months of the “sequester” spending cuts, about $20 billion worth. And some expressed disquiet that the tentative compromise ran high on tax increases and low on spending cuts -- while warning that failure to act, triggering some $600 billion in income tax increases on all Americans who pay it and draconian spending cuts, was the worse option.
 
McConnell earlier had called for a vote on the tax component of the deal.
 
“Let me be clear: We’ll continue to work on finding smarter ways to cut spending, but let’s not let that hold up protecting Americans from the tax hike,” McConnell urged. “Let’s pass the tax relief portion now. Let’s take what’s been agreed to and get moving.”

more


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on January 01, 2013, 06:01:15 am
Senate approves deal to avert 'fiscal cliff,' House of Representatives must still vote on deal - @CNBC

WASHINGTONCopyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
38.8951-77.0364

WASHINGTON (AP) — The Senate has passed legislation to block the impact of across-the-board tax increases and spending cuts that make up the fiscal cliff.

The vote was an overwhelming 89-8 and came well after midnight on New Year's Day.

A House vote is expected before Wednesday.

The White House-backed legislation would prevent middle-class taxes from rising, and raise rates on incomes over $400,000 for individuals and $450,000 for couples.

It also blocks spending cuts for two months, extends unemployment benefits for the long-term jobless, prevents a 27 percent cut in fees for doctors who treat Medicare patients and prevents a spike in milk prices.

A last-minute addition would also prevent a $900 pay raise for members of Congress from taking effect in March.

http://bigstory.ap.org/article/senate-clear-fiscal-cliff-measure

NOTHING BUT RAISED TAXES!!!!!

Sen. Marco Rubio voted no this evening. "The real fiscal cliff is the one that awaits us, and there's nothing we can do to avoid it."


President Obama praises Senate agreement on bill to avert fiscal cliff - @AP

well of course he does, he got what he wanted

Obama Orders Pay Raise for Biden, Members of Congress, Federal Workers
http://feedproxy.google.com/~r/delicious/gqlf/~3/ZIC3BugU0uo/obama-orders-raise-biden-members-congress-federal-workers_692223.html

just saying.,..


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on January 01, 2013, 08:16:37 am
Quote
The accord would also raise the taxes paid on large inheritances from 35% to 40% for estates over $5 million.

It's stuff like this that makes it obvious that the government wants tax income, regardless, and they will go after it where ever they can get it. This "inheritance tax" I have always felt the government has no right to collect. It's pure theft in my opinion. Same with taxing winnings from games, contests and lotteries.

Seriously, how in the world do they justify taking even 35% of money they have zero rights to? It's that stupid IRS tax code. Can't have any "undeclared" or "unearned" income. If you earn an income, they tax it. If you didn't earn it, they tax it. If you receive it, you pretty much will pay taxes on it. Now tell me, what good has that tax strategy done? None. More income for the country has done nothing to improve the financial stability of the country. It's in fact made the country even more unstable financially.

I REALLY thank God that He accepts me into His family, because if living in the world and dealing with those idiots was my only option, I think all this stuff would drive me nuts. I'd be one of the most loud-mouthed patriots one has ever seen because I just couldn't sit back and watch these criminals get away with this stuff.

Thank you Jesus for your mercy!


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on January 01, 2013, 11:55:23 am
http://news.yahoo.com/gop-governors-walk-balance-beam-health-law-150134024--politics.html

GOP governors walk balance beam on health law
By By BILL BARROW | Associated Press – Sun, Dec 30, 2012

ATLANTA (AP) — Florida Gov. Rick Scott, who made a fortune as a health care executive, long opposed President Barack Obama's remake of the health insurance market. After the Democratic president won re-election, the Republican governor softened his tone. He said he wanted to "have a conversation" with the administration about implementing the 2010 law. With a federal deadline approaching, he also said while Florida won't set up the exchange for individuals to buy private insurance policies, the feds can do it.
 
In New Jersey, Gov. Chris Christie held his cards before saying he won't set up his own exchange, but he's avoided absolute language and says he could change his mind. He's also leaving his options open to accept federal money to expand Medicaid insurance for people who aren't covered. The caveat, Christie says, is whether Health Secretary Kathleen Sebelius can "answer my questions" about its operations and expense.
 
Both Republican governors face re-election in states that Obama won twice, Christie in 2013 and Scott in 2014. And both will encounter well-financed Democrats.
 
Their apparent struggles on the issue, along with other postures by their GOP colleagues elsewhere, suggest political uncertainty for Republicans as the Affordable Care Act starts to go into effect two years after clearing Congress without a single Republican vote. The risks also are acute for governors in Democratic-leaning or swing-voting states or who know their records will be parsed should they seek the presidency in 2016 or beyond.

more


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on January 02, 2013, 04:11:10 am
(http://t3.gstatic.com/images?q=tbn:ANd9GcR8wqHqFAVajqLWc6v-imP8djacdTvGtgUW2gFC5Op_m3PGrrfN)

PLAYED: $1 IN CUTS FOR EVERY $41 IN TAXES...
http://www.breitbart.com/Big-Government/2012/12/31/Fiscal-cliff-deal-41-1-in-tax-increases-to-spending-cuts-ratio

Deal Means Higher Tax on 77% of Households...
http://www.bloomberg.com/news/2013-01-01/senate-passed-deal-means-higher-tax-on-77-of-households.html

CBO: ADDS $3.9 TRILLION MORE TO DEFICIT...
http://thehill.com/blogs/on-the-money/economy/275095-cbo-fiscal-cliff-deal-carries-4-trillion-price-tag


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on January 07, 2013, 07:57:37 am
Obama supporters shocked, angry at new tax increases

(http://media.tumblr.com/tumblr_m6gjvobsi91rqudbh.jpg)

Sometimes, watching a Democrat learn something is wonderful, like seeing the family dog finally sit and stay at your command.

With President Obama back in office and his life-saving “fiscal cliff” bill jammed through Congress, the new year has brought a surprising turn of events for his sycophantic supporters.

“What happened that my Social Security withholding’s in my paycheck just went up?” a poster wrote on the liberal site DemocraticUnderground.com. “My paycheck just went down by an amount that I don’t feel comfortable with. I guarantee this decrease is gonna’ hurt me more than the increase in income taxes will hurt those making over 400 grand. What happened?”

Shocker. Democrats who supported the president’s re-election just had NO idea that his steadfast pledge to raise taxes meant that he was really going to raise taxes. They thought he planned to just hit those filthy “1 percenters,” you know, the ones who earned fortunes through their inventiveness and hard work. They thought the free ride would continue forever.

So this week, as taxes went up for millions of Americans — which Republicans predicted throughout the campaign would happen — it was fun to watch the agoggery of the left.

“I know to expect between $93 and $94 less in my paycheck on the 15th,” wrote the ironically named “RomneyLies.”

“My boyfriend has had a lot of expenses and is feeling squeezed right now, and having his paycheck shrink really didn’t help,” wrote “DemocratToTheEnd.”

“BlueIndyBlue” added: “Many of my friends didn’t realize it, either. Our payroll department didn’t do a good job of explaining the coming changes.”

So let’s explain something to our ill-informed Democratic friends. In 2009, Mr. Obama enacted a “holiday” on the payroll tax deduction from employees’ paychecks, dropping the rate from 6.2 percent to 4.2 percent. But like the holidays, the drop ended, and like New Year‘s, the revelers woke up the next morning with a massive hangover and a pounding head.

“Bake,” who may have been trolling the site, jumped into the thread posted Friday. “My paycheck just went down. So did my wife’s. This hurts us. But everybody says it’s a good thing, so I guess we just suck it up and get used to it. I call it a tax increase on the middle class. I wonder what they call it. Somebody on this thread called it a ‘premium.’ Nope. It’s a tax, and it just went up.”

Some in the thread argued that the new tax — or the end of the “holiday,” which makes it a new tax — wouldn’t really amount to much. One calculated it would cost about $86 a month for most people. “Honeycombe8,” though, said that amount is nothing to sneeze at.

“$86 a month is a lot. That would pay for … Groceries for a week, as someone said. More than what I pay for parking every month, after my employer’s contribution to that. A new computer after a year. A new quality pair of shoes … every month. Months of my copay for my hormones. A new thick coat (on sale or at discount place). It would pay for what I spend on my dogs every month … food, vitamins, treats.”

The Twittersphere was even funnier.

Story Continues →
Read more: http://www.washingtontimes.com/news/2013/jan/6/obama-supporters-shocked-angry-new-tax-increases/#ixzz2HIXCaAFK


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on January 07, 2013, 08:00:34 am
Democrats look for up to $1 trillion in new tax revenues this year

(https://encrypted-tbn1.gstatic.com/images?q=tbn:ANd9GcTTfyY4tfriFA4YRTonVcMhd7uN79HekK19P9ViFEnapI85fI05)

Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.

Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years. 

The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.

Read more: http://thehill.com/homenews/senate/275815-democrats-looking-for-up-to-1t-in-new-tax-revenues-this-year#ixzz2HIY6PPTN


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on January 07, 2013, 08:30:34 am
Even if Romney had won, these fiscal bill tax increases would have still happened b/c quite simply, Romney wouldn't have taken the oval office until late this month, which meant Obama would have still had to deal with this deadline, and Obama would have used this lame duck period to give America the middle finger.

It could have been worse if Romney had won.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Mark on January 12, 2013, 06:26:14 am
Millions noticing paychecks lighter today, due to payroll tax hike

Gabriella Hoffman’s paycheck is a little lighter today, thanks to a payroll tax increase that is forcing millions of Americans to make the kind of tough budget cuts their representatives in Washington lawmakers seem unwilling to tackle.

Hoffman, a 21-year-old Virginian who works at a nonprofit, estimates her paycheck will be roughly $30 less this biweekly pay period, or about $780 annually, thanks to the end of a two-year cut on payroll taxes, which fund Social Security. The tax has risen back up to 6.2 percent from 4.2 percent, costing someone making $50,000 annually about $1,000 per year and a household with two high-paid workers up to $4,500.

“As a newly-graduated person, someone coming straight out of college, I don’t like the idea of having less money coming to me due to the selfish interests of people in Congress who don’t have any interest in reducing our financial problems,” Hoffman told FoxNews.com. “This is an impediment for future economic growth. It’s going to make it harder for young people like myself to get married, find a better job, you name it.”

Hoffman admits the hike won’t completely alter her spending, but the University of California-San Diego graduate said she will definitely have it in mind when it comes to leisure activities and entertainment.

“Although it’s a small quantity on a monthly basis, just having less money going into my paycheck will prevent me from doing things and force me to be more frugal,” she said. “I’ll be more cautious with my spending.”



Read more: http://www.foxnews.com/us/2013/01/11/lighter-paychecks-to-hamper-many-americans-amid-uncertain-economic-times/?intcmp=HPBucket#ixzz2HlP9euIO


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on January 15, 2013, 10:37:27 am
http://beforeitsnews.com/economics-and-politics/2013/01/have-obamacare-irs-raids-begun-rampant-injustice-2448682.html

Have Obamacare IRS Raids Begun? Rampant Injustice
 
Saturday, January 12, 2013 20:30

Have Nazi gestapo’s arrived in America disguised as United States federal agents and the IRS? This video will enrage absolutely any small business owner in America and anyone else who cares a lick about America, for that matter. “If people are not outraged, they need to be.” “This is not America any longer…”
 
Federal agent: “The federal government can do anything that we want to do….”  Uh, feds, no you can’t!
 
When the people fear their government, there is tyranny; when the government fears the people, there is liberty.

http://www.youtube.com/watch?v=bFALonjLay0&feature=player_embedded


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on January 15, 2013, 11:04:11 am
Small Firms to Keep Lagging Back in U.S. Expansion: Economy
14 January 2013, by Alex Kowalski & Jeanna Smialek (Bloomberg)
http://www.bloomberg.com/news/2013-01-14/small-firms-to-remain-missing-link-in-u-s-expansion-economy.html

Excerpt:

Small companies will probably remain a missing element of the current U.S. expansion as their role in driving growth continues to wane, according to economists at Citigroup Inc..

Payrolls at firms with fewer than 500 employees accounted for less than 50% of the total workforce for the first time in 2008 during the recession and have barely recovered, according to their research.

After hovering close to 50%, small businesses’ share of GDP began dropping in 2001 to reach about 45% in the latest available data.

In contrast to the gains in confidence for their larger counterparts, sentiment among smaller companies remains at recessionary levels,

reflecting a confluence of obstacles, including globalization and a lack of credit as local banks consolidate.

That means the world’s largest economy will lose support from the businesses that helped boost growth and productivity through innovation.

“Small businesses are going to be under pressure for quite some time to come,” Nathan Sheets, the New York-based global head of international economics at Citigroup, who conducted the research, said in a telephone interview.

“Competing globally means establishing networks of distribution, communication, transportation, and it’s easier to do that as a large firm.”


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on January 16, 2013, 09:45:10 pm
Obama using gun issue to advance health law

1/16/13

http://www.washingtontimes.com/news/2013/jan/16/obama-using-gun-issue-advance-health-law/

President Obama is using the national debate over gun violence to push for further action on his health care law, including insisting on the kind of mental health coverage states must provide under their Medicaid programs.
 
Mr. Obama, unveiling his gun proposals Wednesday barely a month after the deadly school shooting in Newtown, Conn., will make it clear that his health law, known as the Affordable Care Act, allows doctors to ask patients whether they have guns in their homes, and will tell them they are able to report any threats of violence they hear to police.
 
The president also will lay out the mental health coverage that all insurers will be required to provide under his signature-achievement law.
 
Those are some of the 23 executive actions Mr. Obama plans to take whether or not Congress acts on his broader recommendations, the White House said.
 
Other moves including offering incentives for schools to hire police; finally naming a new director of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF); and requiring federal authorities to trace all guns recovered in their criminal investigations.
 
Mr. Obama also will call on his secretaries of education and health and human services to hold a national dialogue on mental health.
 
The entire list of the actions Mr. Obama is taking comprises:
 
1. Issue a presidential memorandum to require federal agencies to make relevant data available to the federal background check system
 
2. Address unnecessary legal barriers, particularly relating to the Health Insurance Portability and Accountability Act, that may prevent states from making information available to the background check system.
 
3. Improve incentives for states to share information with the background check system.
 
4. Direct the attorney general to review categories of individuals prohibited from having a gun to make sure dangerous people are not slipping through the cracks.
 
5. Propose rule-making to give law enforcement the ability to run a full background check on an individual before returning a seized gun.
 
6. Publish a letter from ATF to federally licensed gun dealers providing guidance on how to run background checks for private sellers.
 
7. Launch a national safe and responsible gun ownership campaign.
 
8. Review safety standards for gun locks and gun safes (Consumer Product Safety Commission).
 
Story Continues →


Read more: http://www.washingtontimes.com/news/2013/jan/16/obama-using-gun-issue-advance-health-law/#ixzz2ICWLqzOh


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Kilika on January 17, 2013, 03:05:47 am
This isn't good at all, these "executive actions". He's even using this to "pass" background checks for private gun sales? There is no way private sellers will do a background check. That's just a move to circumvent Congress and the Constitution. This is so unconstitutional, it's hard to believe they are even proposing this stuff, let alone actually going through with it.

Notice the first 6 of 7 items all involve background checks. And background checks, etc is what hasn't been able to pass. And here they are forcing it through by executive order. Background checks on a private gun sale? That's absurd at best. And states like Arizona are getting their gun freedoms hit hard with this junk. Now, a private sale of a gun is perfectly legal in Arizona, no registrations, no waiting periods, no background checks, etc. It's truly private. Obama's actions by executive order changes all that overnight.

This isn't good at all. There are a bunch of people that are going to be really mad. Obama and his cohorts have taken it too far this time.


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on February 20, 2013, 08:26:34 pm
http://news.yahoo.com/next-healthcare-advisor-might-tax-guy-210953294.html

Your Next Healthcare Advisor Might Be Your Tax Guy

2/20/13

With April 15 (Tax Day) less than two months away, it’s no surprise that H&R Block, the largest tax services firm in the world, is already busy processing tons of 1040 forms. What is unexpected, though, is that they’re advising their customers on health insurance as well as taxes.
 
This year, if you come to H&R Block for tax prep, you’ll also get a free, personalized review on what your insurance costs are likely to be, and what subsidies you might qualify for under the Affordable Care Act, which really kicks in for most people in January 2014.
 
We discovered that three out of four taxpayers don’t know what it takes to become eligible for health insurance under the new law,” said Kathy Pickering, executive director of The Tax Institute at H&R Block, referring to a survey the company did that also found that 44 percent of respondents ages 18 to 34 didn’t know about the possible tax penalty if they didn’t sign up for health insurance with an employer or a state health insurance exchange. (Sign-up for insurance under the exchanges begins October 1, 2013.)
 
Tax returns aren’t as far removed from health insurance as you might think. While it’s not necessary to file a tax return to enroll in a qualified healthcare plan, according to the tax preparer, people who do file a return will find it’ll be used by state exchanges to verify your household income and family size to determine eligibility for government-sponsored plans, the premium tax credit (a tax refund to help offset health insurance costs for some individuals and families), and subsidies. In other words, having a tax return handy this fall may make it easier and faster to figure out if you’re eligible for financial help in paying for your insurance. People who don’t file a return may be asked to submit documents to help determine eligibility and costs.
 
So far, no other tax preparation firms have announced plans to help their clients with health insurance questions. H&R Block has launched a website that anyone can use to see some family and individual scenarios for healthcare and penalty costs. The site also has a good FAQ section that explains certain parts of the new healthcare law, such as “Will there be changes in my taxes because of health care reform?” (Yes, but not for everyone.)
 
While H&R Block customers who opt for the health insurance review may feel a little more at ease about the coming new world of health insurance, you won’t be missing out if you’re not getting your taxes done there. Beginning July 1, 2013, all states will have call-in centers set up to answer questions about health insurance under the Affordable Care Act, as well as “navigators” who can provide specific information based on individual or family circumstances, says a spokesman for the U.S. Department of Health and Human Services. Each state exchange will make specific decisions about how the navigators operate, for example, call-in hours, and, in some cases, probably in-person appointments. Sign up at Healthcare.gov to get health insurance updates from your state exchange by email or text message.
 
And you can also expect more companies and nonprofits to start offering counseling on health insurance in the months ahead. “We’re taking a lot of calls from people who are concerned about being able to afford coverage in 2014,” says Keith Mendonsa, a consumer specialist at the online health insurance company ehealthinsurance.com. Most of them don’t understand how the subsidies will work and what they’ll be required to pay for their coverage. There’s a lot of room for consumer education on the issue this year.”
 
Michael Hsiung of Los Angeles says he “kept hearing about new subsidies for people who can’t afford health insurance and wondered if I’d be one of them…but I had already gone so long without health insurance I didn’t want to keep waiting,” he explains. “So I bought a plan for $105 and will wait to see what happens with the Affordable Care Act.” Hsiung’s plan is a month-to-month one, based on guidance from the sales person he worked with at ehealthinsurance.com, who pointed out that he may qualify for a lower-cost option once the health insurance exchange in California opens for business. 
 
Are you afraid of what health insurance might cost you starting in 2014? Have you spoken to a tax preparer or accountant or do you plan to?


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: Psalm 51:17 on February 20, 2013, 09:03:48 pm
http://www.forbes.com/sites/brucejapsen/2013/02/20/florida-gov-rick-scotts-obamacare-medicaid-mea-culpa/?partner=yahootix

2/20/13

Florida Gov. Rick Scott's Obamacare Medicaid Mea Culpa

In a major about-face, it appears Rick Scott, the former hospital chain CEO turned Republican governor of Florida, will expand the state’s Medicaid insurance program for the poor under the Affordable Care Act after all.

Several news outlets in Florida and Washington are reporting that Scott has changed his tune and will go along with an expansion to cover more than one million people for the first three years, allowing a new governor to decide what to do after that.

Scott is now the seventh GOP governor to agree to expand Medicaid under the health law and “arguably the biggest political symbol of grudging Republican acceptance that Obamacare is the law of the land,” Politico reported tonight.

Earlier, Scott said he did not want Florida to participate in the health law’s Medicaid expansion partly because of what he believed are eventual costs to his state for increasing coverage. Under the health law, states have the option thanks to the Supreme Court decision in June to not to take part in an expansion of the number of people eligible to receive Medicaid.

“I cannot in good conscience deny Floridians to healthcare,” Rick Scott said at a press conference in Florida this afternoon.

Most states are going along with the Medicaid expansion given a cash infusion of more than $900 billion in federal dollars from 2014 to 2022.

This funding is unlike past efforts to expand Medicaid in that the federal government will pick up the full tab for the first three years. The state gradually has to pick up some costs in 2017 but by 2020 the federal government is still picking up 90 percent or more of the Medicaid tab.

It’s a much better funding proposition than the existing Medicaid program that essentially shares the cost between the states and the federal government. The federal government traditionally picks up a little more than half of the cost of Medicaid.

Until Wednesday, Scott had been the poster child among GOP governors who said they wouldn’t participate. Before he was elected Florida’s governor in the Tea Party wave of 2010, Scott was best known for running the giant for-profit hospital chain known as Columbia/HCA, now known as HCA Holdings (HCA).

When he was chief executive officer, Columbia became the center of a nationwide federal health fraud investigation in the mid-1990s, before settling for $1.7 billion over allegations the chain of hospitals fraudulently billed Medicare and other health programs. Scott eventually resigned under intense board pressure in 1997 as the investigation swirled around him.

Columbia today remains among the nation’s large investor-owned hospital chains including Tenet Healthcare (THC), Health Management Associates (HMA) and Vanguard Health Systems (VHS).


Title: Re: OBAMA DEMANDS TAX HIKES...
Post by: more on August 20, 2015, 05:49:21 am
Obama: 'Majority of Americans Agree with My Approach'

President Barack Obama used his new political politician coming off his reelection win to assert his political position ahead of fiscal negotiations with Congress.

"On Tuesday night, we found out that the majority of Americans agree with my approach," Obama said in a statement delivered this afternoon in the White House. "And that includes Democrats, independents, and a lot of Republicans across the country, as well as independent economists and budget experts."

Obama's approach, as he detailed, to the looming fiscal issues is "to combine spending cuts with revenue -- and that means asking the wealthiest Americans to pay a little more in taxes."
Paris airport limousine service (http://www.shuttle-paris-airports.com/)
"That’s how we can reduce the deficit while still making the investments we need to build a strong middle class and a strong economy.  That’s the only way we can still afford to train our workers, or help our kids pay for college, or make sure that good jobs in clean energy or high-tech manufacturing don’t end up in countries like China," the president said in his first public address since election night.

"Now, already, I’ve put forward a detailed plan that allows us to make these investments while reducing our deficit by $4 trillion over the next decade.  I want to be clear -- I’m not wedded to every detail of my plan.  I’m open to compromise.  I’m open to new ideas.  I’m committed to solving our fiscal challenges.  But I refuse to accept any approach that isn’t balanced.  I am not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000, aren’t asked to pay a dime more in taxes.  I'm not going to do that."

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however this is a matter of concern ::) and took the right decision. by the way thank you for the nice and informative reply
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