Are you excited to have a national due date to pay your taxes??? How do you plan to celebrate tax day this year? Still love our tax policy? Have any ideas to change it? Until I hear a better idea, I support the fair tax. It eliminates income tax and institutes a national sales tax from a basic standpoint. Anyone who consumes in this country, legal or illegal, citizen or visiting, pays taxes. It eliminates all the loopholes that only the rich people seem to have access to and taxes those who have historically been tax evaders.
The only thing I don't like about it so far, is that it doesn't address the spending problem. But we the people have to take care of that by getting involved and voting out the good ol' boys and getting fresh blood in there. If they won't impose term limits on themselves, we'll do it for them!!! Let your congressmen know that you intend to impose a term limit on them.
Showing posts with label Taxes. Show all posts
Showing posts with label Taxes. Show all posts
Wednesday, April 15, 2009
Sunday, March 22, 2009
The House Passes a 90% Tax Rate...Are You Concerned Yet?
Check out the following Time article.
http://www.time.com/time/politics/article/0,8599,1886748,00.html?xid=rss-politics-cnn
Thursday after little debate the House passed a bill which would impose a 90% tax rate not only on the AIG bonuses that everyone is furious about, but on the majority of bonuses paid from the beginning of the year on bonuses to all employees making more than $250,000 a year working for companies that received more than $5 billion in TAR money.
Do any of you have a problem with this? What's to stop them from just imposing the same rate on every other company that didn't receive TARP money? What do you think would happen? Are you thinking that since you don't make $250,000 you don't care?
The article goes on to say that it will likely be modified in the senate to 70% on bonuses of $50,000 or more to companies that received $100 million. So this potentially broadens the number of people they will get but lowers the tax rate. I don't really know which is worse.
Here's my first problem. Everyone is so focused on these bonuses and how outrageous they are. Where is the outrage at congress for passing these bailouts to begin with that didn't exclude the bonuses. Where is the outrage that they didn't bother to read the whole bill before voting on it? Now that the country is on the hook for this money against the will of at least half of the people, maybe more, don't we need AIG and all these other companies that got TARP money to make money so they can "pay us back?" Or do we expect them to turn things around with executives and people that are worthless? What's to keep the people with the ability and know how to turn things around from going to another company that will pay them for their talent? You can't expect them to work for free. You wouldn't.
Of course the people that are part of the problem in these companies should be let go, but do you know which ones they are? I surely don't.
Are you concerned at all that congress would pass a 90% or 70% tax rate? Both sides of the aisle are on board with this. Are you? Are you aware that people that make over $250,000 a year generally employ other people through purchasing more services that they don't want to do themselves. They help keep those of us making anywhere from $15,000-$100,000 or more employed. Do you care? What happens to our salaries if theirs suddenly get sucked up in taxes? Do you think they'll stop paying for those services that they used to pay for? I do. But what do I know? I'm just a dog.
Are you upset? Do you care? And if you don't care, my question is Why Not? Do you think we should keep throwing good money after bad?
http://www.time.com/time/politics/article/0,8599,1886748,00.html?xid=rss-politics-cnn
Thursday after little debate the House passed a bill which would impose a 90% tax rate not only on the AIG bonuses that everyone is furious about, but on the majority of bonuses paid from the beginning of the year on bonuses to all employees making more than $250,000 a year working for companies that received more than $5 billion in TAR money.
Do any of you have a problem with this? What's to stop them from just imposing the same rate on every other company that didn't receive TARP money? What do you think would happen? Are you thinking that since you don't make $250,000 you don't care?
The article goes on to say that it will likely be modified in the senate to 70% on bonuses of $50,000 or more to companies that received $100 million. So this potentially broadens the number of people they will get but lowers the tax rate. I don't really know which is worse.
Here's my first problem. Everyone is so focused on these bonuses and how outrageous they are. Where is the outrage at congress for passing these bailouts to begin with that didn't exclude the bonuses. Where is the outrage that they didn't bother to read the whole bill before voting on it? Now that the country is on the hook for this money against the will of at least half of the people, maybe more, don't we need AIG and all these other companies that got TARP money to make money so they can "pay us back?" Or do we expect them to turn things around with executives and people that are worthless? What's to keep the people with the ability and know how to turn things around from going to another company that will pay them for their talent? You can't expect them to work for free. You wouldn't.
Of course the people that are part of the problem in these companies should be let go, but do you know which ones they are? I surely don't.
Are you concerned at all that congress would pass a 90% or 70% tax rate? Both sides of the aisle are on board with this. Are you? Are you aware that people that make over $250,000 a year generally employ other people through purchasing more services that they don't want to do themselves. They help keep those of us making anywhere from $15,000-$100,000 or more employed. Do you care? What happens to our salaries if theirs suddenly get sucked up in taxes? Do you think they'll stop paying for those services that they used to pay for? I do. But what do I know? I'm just a dog.
Are you upset? Do you care? And if you don't care, my question is Why Not? Do you think we should keep throwing good money after bad?
Monday, March 2, 2009
Does Anyone Care About Fiscal Responsibility?
http://www.foxnews.com/politics/first100days/2009/03/01/budget-chief-obama-sign-spending/
"WASHINGTON -- President Barack Obama will break a campaign pledge and sign a budget bill laden with millions in lawmakers' pet projects, administration officials said.
Administration budget chief Peter Orszag and White House chief of staff Rahm Emanuel both downplayed the $410 billion spending bill and signaled Obama would hold his nose and sign it. Orszag said: "We want to just move on. Let's get this bill done, get it into law and move forward.
Said Emanuel: "That's last year's business."
The House last week passed the measure that would keep the government running through Sept. 30, when the federal budget year ends. Taxpayers for Common Sense, a watchdog group, identified almost 8,600 specially sponsored projects totaling $7.7 billion; Democrats say the number is $3.8 billion...."
Go to the link for the full article.
Go here for published details on the budget. http://www.whitehouse.gov/omb/budget/
Here's what I'm noticing. Obama is blaming Bush for the economy and the inherited deficit etc. etc. etc. because so many of you are eating that up with your hatred for Bush. I don't care what your feelings are about Bush, but are you all really buying the mantra that spending even more money than Bush is a good solution to cut the deficit? Do you really think that increasing the taxes of only the rich is really going to pay for the deficit and cover the increased spending?
These "evil rich people" provide jobs for you and me. And if they don't provide jobs they are probably rich enough to figure out how ride out the administration and not pay taxes for the next 4 years by not selling their investments to realize capital gains. Let's not forget the stock market keeps dropping on a daily basis, that they will probably realize capital losses and if they do pay income taxes, their losses might counter act any income taxes they would have paid.
If you care one iota about fiscal responsibility and the government not going haywire with your tax dollars, tell your representatives and senators. They need to know where you stand. Regardless of what side of the aisle they are on. They have all been guilty of porky spending and they ALL need to know you care. Write them!!! Call them!!! NOW!!!
A word to those of you that said Clinton did it so I trust Obama. Clinton cut the military to virtually nothing and the world trade center was first bombed during his administration and then crashed into right after he left office. Obama may be talking about reducing troops in Iraq but he's talking about increasing the presence in Afghanistan. So that's not going to realize a lot of savings. Plus with all he's proposing to do, he'll replace spending in Iraq and Afghanistan with spending here. But you seem to be OK with that.
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