Bathroom reading material

[Lynlw]

I don't have alot of faith in the MSM but if this is right , it could really hurt the non profits http://www.washingtonpost.com/wp-dyn/content/article/2009/02/26/AR2009022603391.html
Overlooked by many in President Obama's budget proposal is a provision that would reduce by 20 percent the amount wealthy people can deduct from their taxes for making charitable donations. This is big business, especially here in Washington. Most of the federal city's major think tanks and policy institutes -- not to mention its food banks, homeless shelters and other social service agencies -- are nonprofit organizations funded by private donors.

Under the administration's plan, households earning more than $250,000 a year would have their itemized tax deductions for charitable giving capped. So instead of getting a 35 percent deduction, on par with their income tax bracket, they would get a 28 percent deduction.
more at link

 

[Bridgette]

Sorry, but I think if you are making $250,000 plus a year then you should be classed as wealthy.

And Karlynn, I agree that many people, such as your friends, have worked hard to build their businesses up to be in a position where they can now make good money......

BUT, there are also very very wealthy and unscrupulous people out there who have been handed everything on a plate and then ridden roughshod over a lot of people to make EVEN MORE money....up to every tax dodge trick in the book etc etc....they need to be brought into line, LOL

Unfortunately there is no easy answer to the tax issue and government spending, if there was we'd all be smiling and there'd be no threads like this

 

[Bina]

Hmmmm, I just thought of a way to save the gov't LOTS of money,
but it's kind of drastic....all of those inmates/murders on death row GET THE AXE.

 

[Tbone]

A Tax Poem‏


At first I thought this was funny...then I realized the awful truth of it. Be sure to read all the way to the end!

Tax his land, Tax his bed, Tax the table At which he's fed.
Tax his tractor, Tax his mule, Teach him taxes Are the rule.
Tax his work, Tax his pay, He works for peanuts Anyway!
Tax his cow, Tax his goat, Tax his pants, Tax his coat.
Tax his ties, Tax his shirt, Tax his work, Tax his dirt.
Tax his tobacco, Tax his drink, Tax him if he Tries to think.
Tax his cigars, Tax his beers, If he cries Tax his tears.
Tax his car, Tax his gas, Find other ways To tax his ass.
Tax all he has Then let him know That you won't be done Till he has no dough.
When he screams and hollers, Then tax him some more, Tax him till He's good and sore.
Then tax his coffin, Tax his grave, Tax the sod in Which he's laid.
Put these words Upon his tomb, Taxes drove me to my doom...
When he's gone, Do not relax, Its time to apply The inheritance tax.

Accounts Receivable Tax, Building Permit Tax , CDL license Tax , Cigarette Tax ,
corporate Income Tax, Dog License Tax, , xcise Taxes > Federal Income Tax , Federal Unemployment Tax (FUTA) > Fishing License Tax > Food License Tax > Fuel Permit Tax > Gasoline Tax (42 cents per gallon) > Gross Receipts Tax > Hunting License Tax > Inheritance Tax > Inventory Tax > IRS Interest Charges IRS Penalties (tax on top of tax) > Liquor Tax > Luxury Taxes > Marriage License Tax > Medicare Tax > Personal Property Tax > Property Tax > Real Estate Tax > Service Charge Tax > Social Security Tax > Road Usage Tax > Sales Tax > Recreational Vehicle Tax > School Tax > State Income Tax > State Unemployment Tax (SUTA) > Telephone Federal Excise Tax > Telephone Federal Universal Service Fee Tax > Telephone Federal, State and Local Surcharge Taxes > Telephone Minimum Usage Surcharge Tax > Telephone Recurring and Non-recurring Charges Tax > Telephone State and Local Tax > Telephone Usage Charge Tax > Utility Taxes > Vehicle License Registration Tax > Vehicle Sales Tax > Watercraft Registration Tax > Well Permit Tax > Workers Compensation Tax !!!

STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago, and our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world, and Mom stayed home to raise the kids.

What in the heck happened? Can you spell 'politicians!'
And I still have to 'press 1' for English!?!?!?!? I hope this goes around THE USA at least 100 times!!!!!> YOU can help it get there!!!! > > GO AHEAD - - - BE AN AMERICAN !!!!!!

 

[Tbone]

We needa flat tax, and quit giving money to illegals. California would have a surplus if not for the illegal alians.

 

[ChouDoufu]

Not one of these taxes existed 100 years ago

don't forget the telephone excise tax, originally passed to help pay for the
spanish-american war. that cheap little war lasted 114 days and only cost
$400 million, by 1999 the tax had raised $94 billion. partially repealed in
2006.

 

[Lisa in Katy]

I think it's time for a Boston Tea Party. Only this one can be in Texas and instead of dumping the tea, we can drown ourselves in margaritas and refuse to pay the sin tax!

 

[Lynlw]

I think it's time for a Boston Tea Party. Only this one can be in Texas and instead of dumping the tea, we can drown ourselves in margaritas and refuse to pay the sin tax!

Actually there were a few Tea parties today all over the Country. They were NOT well publicized but some of them had 100-300

 

[Lisa in Katy]

We were too busy having chili cook-offs and loads of horses walking on the feeder roads of our freeways to have Boston Tea Parties. Yep, there were horses alongside I-10 this morning. It's rodeo time in Houston, and there is nothing else important in the world right now!

 

[OldManEmu]

Tax

Tax

As Benjamin Franklin said many years ago "In this world nothing is certain but death and taxes"

 

[Ross]

Hey - just let me know when you're out of the bathroom - I need to take a shower!!!

Oh by all means, go right ahead and shower. I won't mind a bit. In fact, I promise to watch!

 

[Karlynn]

Sorry - I went next door to the neighbors!!!

 

[Ross]

Sorry - I went next door to the neighbors!!!

You'd do anything to keep from exciting me wouldn't you?

 

[Karlynn]

Just an update on numbers after the WSJ link I posted.

From the Congressional Budget Office - latest IRS stats from 2006

Top 1% of all earners in the US payed 39% of the income tax total. While their income made just 18% of all pre-tax income in the US

Top 5% payed 61% of the income tax total. Their income accounted for 31% of all pre-tax income earned in the US.

Top 40% of all earners paid 99% of the total 2006 income tax.

Bottom 40% of all income earners paid no taxes.

This is for the nation. States have their own tax laws, so these numbers may not reflect whether or not someone pays a state tax.

If you want a nonpartisan look at what's going on with our country's financial concerns, http://www.cbo.gov/ is a great site - but it's pretty dry reading.

Take this as you will, I just think it contradicts the argument that the wealthy aren't paying their fair share. And if we say they should pay more, on what concrete philosophy are we basing that?

 

[Ross]

I wonder how much the millionares and billionares have stashed away in offshore accounts or in other tax shelters. This is one figure I'd love to know.

 

[Karlynn]

You'd do anything to keep from exciting me wouldn't you?

Glenn - STOP POSTING on Ross's account!!!

 

[Karlynn]

I wonder how much the millionares and billionares have stashed away in offshore accounts or in other tax shelters. This is one figure I'd love to know.

Now that's another question. But don't forget, those that earn 250K are in the top 5%, so there isn't any stashing going on there.

 

[Ross]

Silly woman, tricks are for kids.

I realize that hon, but there are those, very well to do, that have their money nearly fully protected and not paying anything. This is where the equalization needs to take place.

It's another subject, but screw these CEO's and their millions in golden chutes. I say BS, give them one years worth of salary, then adios scum bag.

 

[Dennis S]

To me this is the bottom line---The people we have elected have spent way more than has been collected through taxes for a number of years. The debt is legal and has to be paid. Sooner or later you have to get to the point where you decide where to go to collect the taxes to pay it.

Major deficit spending (IMHO) undermines the inherent strength of a democratic government. When do you think the war in Iraq would have ended if our politicians would have been required to pass new taxes to fund the billions we have spent on that war?

Deficit spending over the years has quietly but dramatically forced us into ever narrowing economic (taxation) options. Those concerned about disproportionate taxes for higher incomes need to decide who is going to bear the burden of those deficits. I am waiting to hear some politician explain how much he/she intends to raise taxes on the poorest 40% among us.

The discussion always seems to revolve around reasons why additional taxes would be unfair to one group or another. We need to get beyond that. If we think raising tax rates for those making over $250,000.00 per year is unacceptable, then we need to hear who it is that should pick up that burden. And we need to decide now. There are no easy choices left for us.

 

[Ross]

To me this is the bottom line---The people we have elected have spent way more than has been collected through taxes for a number of years. The debt is legal and has to be paid. Sooner or later you have to get to the point where you decide where to go to collect the taxes to pay it.

Major deficit spending (IMHO) undermines the inherent strength of a democratic government. When do you think the war in Iraq would have ended if our politicians would have been required to pass new taxes to fund the billions we have spent on that war?

Deficit spending over the years has quietly but dramatically forced us into ever narrowing economic (taxation) options. Those concerned about disproportionate taxes for higher incomes need to decide who is going to bear the burden of those deficits. I am waiting to hear some politician explain how much he/she intends to raise taxes on the poorest 40% among us.

The discussion always seems to revolve around reasons why additional taxes would be unfair to one group or another. We need to get beyond that. If we think raising tax rates for those making over $250,000.00 per year is unacceptable, then we need to hear who it is that should pick up that burden. And we need to decide now. There are no easy choices left for us.

As usual, your right!