[quote]bigflamer wrote:
100meters wrote:
bald eagle wrote:
We have more than enough revenue. Why give them more? The fed gov already does far more than the constitution calls for.
We clearly don’t have enough revenue. We’re badly in debt. McCain is proposing more debt. I realize that some in here are kind of faking on the tax cuts, but when you have to borrow to pay for tax cuts, you don’t have enough revenue. Because the cutting spending canard has never happened. No one wants to cut the spending. McCain is not going to give up his disability check no matter how much richer Cindy gets. So that brings us back to the actual issue of the enormous costs of the permanent tax cuts. So let them expire, let the economy improve, reduce spending (end the war), balance the budget, debt goes down, adjust taxes.
If the Feds were constrained to their constitutional limitations, we could RADICALLY reduce the federal tax that is imposed on each and every american, and have more than enough revenue
To quote Reagan: " we don’t get billion dollar deficits by taxing too little, we get them by spending too much"
[quote]bigflamer wrote:
100meters wrote:
bald eagle wrote:
We have more than enough revenue. Why give them more? The fed gov already does far more than the constitution calls for.
We clearly don’t have enough revenue. We’re badly in debt. McCain is proposing more debt. I realize that some in here are kind of faking on the tax cuts, but when you have to borrow to pay for tax cuts, you don’t have enough revenue. Because the cutting spending canard has never happened. No one wants to cut the spending. McCain is not going to give up his disability check no matter how much richer Cindy gets. So that brings us back to the actual issue of the enormous costs of the permanent tax cuts. So let them expire, let the economy improve, reduce spending (end the war), balance the budget, debt goes down, adjust taxes.
If the Feds were constrained to their constitutional limitations, we could RADICALLY reduce the federal tax that is imposed on each and every american, and have more than enough revenue
To quote Reagan: " we don’t get billion dollar deficits by taxing too little, we get them by spending too much"
Truly we spend too much…
[/quote]
…if you don’t mind living in a really shitty country.
Stock market is a leading indicator, not a lagging indicator - so if you think the market is expecting an Obama win, and you think the President has an effect, well…
100meters wrote:
Boston, you aren’t actually saying the market dropped on that day because of Obama, right?
No, I’m saying that if the market is expecting an Obama win, and expects Obama’s promised policies to have an effect, then that is reflected in the current pricing of the market, which is a leading indicator. There are obviously a lot of other causes, and a lot of day-to-day noise, in any particular move.[/quote]
That wouldn’t start till much later, and clearly excludes the market’s opinion on McCain. To be clear, and as you know, the market dropping 400 points and oil going up 11 dollars had nothing to do with Obama.
Actually, the market usually prices expectations about 6 months to a year out, if I’m remembering correctly.
I never said that Obama caused a particular drop in stock or a surge in oil, because such an assertion would be ridiculous. Most talking head explanations of individual daily moves are ridiculous anyway - too much noise.
However, investor displeasure with his proposed tax increases on investment, if they are expecting him to both win and enact them, would tend to lead to selling, and thus lower prices generally.
My brother and I are in the construction business where most of our earnings at any given time are tied up in receivables. We end up paying tax on money that is owed to us. Tell me we are not screwed up. If the average person had to pay tax on money owed to them - not collected yet - there would be another little tea party going on.
Bald Eagle[/quote]
This is the kind of stuff that burns me up: You’re out there busting your ass, taking care of yourself and your family, and the libs vote your hard-earned dollars away to people who either don’t want to be bothered to work, who have 8 babies by 8 different men, or some criminal with government influence. They assume they have the right to force you to share the burdens/needs of others.
I don’t mind helping old people or kids. I DO mind helping people like the mom in the movie ‘Million Dollar Baby’, the one who gets mad at her daughter for buying her a house; it would fuck up her welfare check.
So some numbers have come out with regard to Obama’s Tax plans versus McCains. Under Obama the majority of Americans would pay less in taxes than they pay now. If you make over 100k a year, you’ll pay slightly more(but not significantly more) and if you make over 3 million a year then you will end up paying a helluva lot more.
I wager most of the posters on this forum would end up paying less taxes under Obama than McCain. However, if some of you are making over 3 million dollars a year… well… can I be your friend?
However, also under Obama Capital Gains tax is going to go up. Obama says 20%, up from 15% today. McCain could conceivably lower it.
Obama has said he wants to remove Capital Gains tax entirely from small businesses and start-ups. Which McCain will not do.
As someone who has invested fairly heavily in the past, I am not too thrilled at the prospect of paying more Capital Gains tax, especially since the drop in my income taxes will likely not balance it out completely.
I do not think it will be the end of the world or my livelihood though, paying a little bit more in taxes. The difference is pretty insignificant in my case.
[quote]Malevolence wrote:
So some numbers have come out with regard to Obama’s Tax plans versus McCains. Under Obama the majority of Americans would pay less in taxes than they pay now. If you make over 100k a year, you’ll pay slightly more(but not significantly more) and if you make over 3 million a year then you will end up paying a helluva lot more.
I wager most of the posters on this forum would end up paying less taxes under Obama than McCain. However, if some of you are making over 3 million dollars a year… well… can I be your friend?
[/quote]
The Republicans will disagree and tell you Obama will enslave the white race
[quote]100meters wrote:
bigflamer wrote:
100meters wrote:
bald eagle wrote:
We have more than enough revenue. Why give them more? The fed gov already does far more than the constitution calls for.
We clearly don’t have enough revenue. We’re badly in debt. McCain is proposing more debt. I realize that some in here are kind of faking on the tax cuts, but when you have to borrow to pay for tax cuts, you don’t have enough revenue.
Because the cutting spending canard has never happened. No one wants to cut the spending. McCain is not going to give up his disability check no matter how much richer Cindy gets. So that brings us back to the actual issue of the enormous costs of the permanent tax cuts. So let them expire, let the economy improve, reduce spending (end the war), balance the budget, debt goes down, adjust taxes.
If the Feds were constrained to their constitutional limitations, we could RADICALLY reduce the federal tax that is imposed on each and every american, and have more than enough revenue
To quote Reagan: " we don’t get billion dollar deficits by taxing too little, we get them by spending too much"
Truly we spend too much…
…if you don’t mind living in a really shitty country.
[/quote]
If I mind the gov’t stealing money that was worked for, for bullshit reasons I don’t believe in. For shitty socialist policies implemented by the biggest waster of recources possible. Gov’t run programs are inneficient at best. How is Obama going to benefit people with decent income (the large majority) in any way?
[quote]Malevolence wrote:
So some numbers have come out with regard to Obama’s Tax plans versus McCains. Under Obama the majority of Americans would pay less in taxes than they pay now. If you make over 100k a year, you’ll pay slightly more(but not significantly more) and if you make over 3 million a year then you will end up paying a helluva lot more.
I wager most of the posters on this forum would end up paying less taxes under Obama than McCain. However, if some of you are making over 3 million dollars a year… well… can I be your friend?
As someone who has invested fairly heavily in the past, I am not too thrilled at the prospect of paying more Capital Gains tax, especially since the drop in my income taxes will likely not balance it out completely.
Hold on there stop the train…Who said that your income tax was going down?
[/quote]
Obama is going to lower everyones taxes (except the rich). Don’t you trust him?
[quote]Zap Branigan wrote:
Malevolence wrote:
So some numbers have come out with regard to Obama’s Tax plans versus McCains. Under Obama the majority of Americans would pay less in taxes than they pay now. If you make over 100k a year, you’ll pay slightly more(but not significantly more) and if you make over 3 million a year then you will end up paying a helluva lot more.
I wager most of the posters on this forum would end up paying less taxes under Obama than McCain. However, if some of you are making over 3 million dollars a year… well… can I be your friend?
And you believe his numbers? [/quote]
Now that you know he’s actually cutting taxes for most folks, it just can’t be true.
[quote]100meters wrote:
Zap Branigan wrote:
Malevolence wrote:
So some numbers have come out with regard to Obama’s Tax plans versus McCains. Under Obama the majority of Americans would pay less in taxes than they pay now. If you make over 100k a year, you’ll pay slightly more(but not significantly more) and if you make over 3 million a year then you will end up paying a helluva lot more.
I wager most of the posters on this forum would end up paying less taxes under Obama than McCain. However, if some of you are making over 3 million dollars a year… well… can I be your friend?
And you believe his numbers?
Now that you know he’s actually cutting taxes for most folks, it just can’t be true.
But McCain is really going to cut spending right?[/quote]
Yet he is repealing tax cuts but he does not consider that a tax increase. His entire campaign is built on double talk on almost every issue. Only a fool would expect a tax cut from this man.