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OBAMA DEMANDS TAX HIKES...

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August 08, 2018, 02:38:10 am suzytr says: Hello, any good churches in the Sacto, CA area, also looking in Reno NV, thanks in advance and God Bless you Smiley
January 29, 2018, 01:21:57 am Christian40 says: It will be interesting to see what happens this year Israel being 70 years as a modern nation may 14 2018
October 17, 2017, 01:25:20 am Christian40 says: It is good to type Mark is here again!  Smiley
October 16, 2017, 03:28:18 am Christian40 says: anyone else thinking that time is accelerating now? it seems im doing days in shorter time now is time being affected in some way?
September 24, 2017, 10:45:16 pm Psalm 51:17 says: The specific rule pertaining to the national anthem is found on pages A62-63 of the league rulebook. It states: “The National Anthem must be played prior to every NFL game, and all players must be on the sideline for the National Anthem. “During the National Anthem, players on the field and bench area should stand at attention, face the flag, hold helmets in their left hand, and refrain from talking. The home team should ensure that the American flag is in good condition. It should be pointed out to players and coaches that we continue to be judged by the public in this area of respect for the flag and our country. Failure to be on the field by the start of the National Anthem may result in discipline, such as fines, suspensions, and/or the forfeiture of draft choice(s) for violations of the above, including first offenses.”
September 20, 2017, 04:32:32 am Christian40 says: "The most popular Hepatitis B vaccine is nothing short of a witch’s brew including aluminum, formaldehyde, yeast, amino acids, and soy. Aluminum is a known neurotoxin that destroys cellular metabolism and function. Hundreds of studies link to the ravaging effects of aluminum. The other proteins and formaldehyde serve to activate the immune system and open up the blood-brain barrier. This is NOT a good thing."
http://www.naturalnews.com/2017-08-11-new-fda-approved-hepatitis-b-vaccine-found-to-increase-heart-attack-risk-by-700.html
September 19, 2017, 03:59:21 am Christian40 says: bbc international did a video about there street preaching they are good witnesses
September 14, 2017, 08:06:04 am Psalm 51:17 says: bro Mark Hunter on YT has some good, edifying stuff too.
September 14, 2017, 04:31:26 am Christian40 says: i have thought that i'm reaping from past sins then my life has been impacted in ways from having non believers in my ancestry.
September 11, 2017, 06:59:33 am Psalm 51:17 says: The law of reaping and sowing. It's amazing how God's mercy and longsuffering has hovered over America so long. (ie, the infrastructure is very bad here b/c for many years, they were grossly underspent on. 1st Tim 6:10, the god of materialism has its roots firmly in the West) And remember once upon a time ago when shacking up b/w straight couples drew shock awe?

Exodus 20:5  Thou shalt not bow down thyself to them, nor serve them: for I the LORD thy God am a jealous God, visiting the iniquity of the fathers upon the children unto the third and fourth generation of them that hate me;
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Author Topic: OBAMA DEMANDS TAX HIKES...  (Read 2427 times)
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« 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
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« Reply #1 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
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« Reply #2 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/

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« Reply #3 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  Cheesy ), 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".
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« Reply #4 on: November 09, 2012, 02:53:32 pm »

It's the core theme behind socialism. Wealth Redistribution.
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« Reply #5 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
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« Reply #6 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...
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« Reply #7 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
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« Reply #8 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! Angry
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« Reply #9 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
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« Reply #10 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
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« Reply #11 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.
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« Reply #12 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
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« Reply #13 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
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« Reply #14 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
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« Reply #15 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.
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« Reply #16 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)

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« Reply #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.”

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« Reply #18 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
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« Reply #19 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/
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« Reply #20 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  Cheesy , 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...
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« Reply #21 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!
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« Reply #22 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
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« Reply #23 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...  Shocked  Shocked  Shocked
http://www.washingtonpost.com/blogs/post-politics/wp/tag/fiscal-cliff/



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
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« Reply #24 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? Angry
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« Reply #25 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.
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« Reply #26 on: December 31, 2012, 11:47:59 am »

The Two Sides Are Now Absurdly Close Roll Eyes On A Fiscal Cliff Deal — Here's The Latest Offer

http://finance.yahoo.com/news/two-sides-now-absurdly-close-124000145.html
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« Reply #27 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.
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« Reply #28 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.
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« Reply #29 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
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