The Obama Tax Compromise

[Joecooool]

Originally Posted by Peter Pan

Those tax cuts got us out of a recession..:

This is not true. Deficit spending got us out of Bush's recession.

[Joecooool]

Originally Posted by DropTheTop

I'd say judging from this page Tax Brackets (Federal Income Tax Rates) 2000 through 2009 and 2010 the rich are being taxed quite enough already.

I think it would be much better to stop coddling adults and not ever allow unemployment benefits to extend past the already ridiculous extension. As soon as that stops, I guarantee some people will get to gettin' and find a job - ANY job.

I ponder about the money in taxes we are losing thanks to those that are working under the table and collecting benefits for two fecking years. Or those that could be working but choose to sponge instead? Or those that refuse to take a job for less than previous? For fun, let's throw a number out there, a very small percentage of people. Say 500,000.

Now let's take this for example:

If the average weekly benefit is ~ $300, then people are living off ~ $16,000/yr. If only a half million people (very small percentage of the unemployed) would just accept minimum wage jobs, they'd make the same money and add a Billion dollars into federal taxes. Not to mention save them 8 Billion dollars in payouts. So, a half million people could save us 8 Billion and generate 1 Billion. For the Gov to make up that 9 Billion dollars, you'd need 260,500 Millionaires, or 250 Billionaires to be returned to 2002 tax rate. Why should those rich be taxed even more when 500,000 people could step up to the plate and take the burden off themselves as well as us?

And please, don't come back with a bunch of BS about who I must listen to on the radio / TV. All that thought and math came from my very own mind and calculator.

This information is misleading.

The vast majority of wealthy people in this country derive their income from long term capital gains. That is taxed as a maximum of 15% regardless of total income.

Warren Buffet issued a challenge a few years ago to the Forbes 400 to prove that anyone on that list paid more taxes by a percentage of total income than their secretary did. He even offered a million dollars to anyone who could show they do.

No one did.

Read this - Me and My Secretary - Forbes.com

[ChasC5]

Originally Posted by Joecooool

This is not true. Deficit spending got us out of Bush's recession.

Exactly ...

Just ask a GM worker

[Joecooool]

Originally Posted by Tinkerbell in Texas

extending unemployment benefits an additional 13 months for a grand total of nearly 3 years is "fiscally irresponsible".

You do not understand the unemployment legislation.

The proposed compromise would do no such thing. It would preserve the 99 weeks by reauthorizing Emergency Unemployment Compensation and Extended Benefits programs, which together provide up to 73 weeks of benefits beyond the standard 26 funded by states.

Proposals to give the long-term unemployed in hardest-hit states an additional 20 weeks of benefits do exist, but those plans are going nowhere.

[Joecooool]

Originally Posted by Tinkerbell in Texas

quoted. I'm sure they will be very interested in this.

I got a kick out of Grumpy telling me he got three or four PM's a week from you asking that I be banned.

You really are a two faced chickensh*t.

[ChasC5]

Originally Posted by Joecooool

You do not understand the unemployment legislation.

The proposed compromise would do no such thing. It would preserve the 99 weeks by reauthorizing Emergency Unemployment Compensation and Extended Benefits programs, which together provide up to 73 weeks of benefits beyond the standard 26 funded by states.

Proposals to give the long-term unemployed in hardest-hit states an additional 20 weeks of benefits do exist, but those plans are going nowhere.

Most of the morons over at the CF/PR&C adamantly believe Unemployment Benefits = Welfare

Is the concept of Employees and Employers paying into a Insurance System lost among the intellectually challenged?

[ChasC5]

Originally Posted by TxAg

Well since you Dems still have control of the House and Senate, why did the anointed one cave? They could have rammed more of their crap down the throat of Americans if they really wanted it.

I think he explained that, because real Americans are affected … say the majority of them.

You know, the Americans you call deadbeats.

[ChasC5]

Originally Posted by TxAg

Two words: cop out.
You say a majority of them, back up your assertion with some unbiased data.


Quote me where I said such a thing or be prepared to wear the label of liar.

Stop puffing your chest out and demanding statistical data, this ain’t the Corvette Forum PR&C.

You’ll get what I give you, when I give it to you, and like it.

[Exotix]

Originally Posted by ChasC5

Stop puffing your chest out and demanding statistical data, this ain’t the Corvette Forum PR&C.

You’ll get what I give you, when I give it to you, and like it.

Wouldn't surprise me that he was finally banned or to his credit, no longer feels the need to participate over there given the 15 wackos who post there 24/7 who put everyone in danger with their right-wing extremeist froth ....

Hopefully he won't bring that kind of **** over here ...

[Exotix]

Originally Posted by Joecooool

Lost a lot of respect for Obama this week. I fail to understand how increasing federal spending with the unemployment extensions while decreasing tax revenue with the tax cuts extended is whats best for the country.

A better compromise would have been extending the tax cuts for those making under $250,000 ONLY and doing nothing with the unemployment benefits.

I'm really disappointed with the inheritance tax compromise.

I didn't ... not really ... even I believe that Obama believes that the (R)'s will come to their senses that America's future is at stake ... that even though the neocons took as down the path of destruction that there's still time to jump on board without further retribution ... you might even say that's the *Junior Senator* in him ...

Yes a fantasy land ... but when Obama manned-up and called the (R)'s hostage-taking (jihadist) terrorists ... well, that tells me that *2nd Amendment Remedies* are also a Lib prerogative ...

That got my mojo rise'n ...

[Exotix]

Originally Posted by TxAg

If you don't know why I was banned, you're just showing your galactic ignorance. Try using your brain and doing some research. I know it's a new concept you instead of parroting the liberal BS you read every day.

Believe me ... the only time I ever saw a major-playing right-wing extremist of your bent get banned on CFPR&C ... was SeaFive ... and that was for 3 days starting on Friday because SeaFive has the kids on the weekend so doesn't post ...

In all honesty, he was banned for following me around the forum saying *babble* after my posts ... he only made the mistake of doing it at that time in the morning when grumpy is waking up and is PMS'd ...

Hope you have a better story than that one ...

[Exotix]

Originally Posted by TxAg

And it's a total garbage statement. But then again, any one with common sense (ie. not you) would know that statement was total garbage.

If the Dems REALLY wanted to just extend the tax relief to anyone under $250K, they could have rammed a bill through just like they did the crap Obamacare bill.

But since you have no intelligent rebuttal for that, the rest of us will just sit back and watch you ramble off some diatribe of nonsense in response.

No? Yes ?
Turn on C-Span and watch the (R)'s vote no enmasse for a one-time $250 payment to Social Security Recipients in the flavor of a COLA ...

[Exotix]

Originally Posted by TxAg

Considering *babble* is an accurate statement to the drivel you post it surprised me Seafive was banned.

AFAIR I wasn't banned from something in PRC but since it's been so long since I was over there I might be mistaken.

That said, if you don't know why I was banned then, like I said, do your research.

I even remember the first time I was banned ... because of you.

I simply stated that you weren't bent-outa-shape enough yet so I didn't feel the need to deal with you ... but grumpy said he was ... BAN !

Everyone remembers their first time ...

[Tinkerbell in Texas]

Originally Posted by Joecooool

I got a kick out of Grumpy telling me he got three or four PM's a week from you asking that I be banned.

You really are a two faced chickensh*t.

gee that's funny because that wouldn't have been from me. I only complained about you once.

[Peter Pan]

Originally Posted by TxAg

And it's a total garbage statement. But then again, any one with common sense (ie. not you) would know that statement was total garbage.

If the Dems REALLY wanted to just extend the tax relief to anyone under $250K, they could have rammed a bill through just like they did the crap Obamacare bill.

But since you have no intelligent rebuttal for that, the rest of us will just sit back and watch you ramble off some diatribe of nonsense in response.

The libs still control 100% for the next few weeks and the house already passed the 250k and under, the Senate can do the same if they wanted and the President would gladly sign the bill, oh he can not get the extended handouts to those not wanting to work for 99 weeks.

I am Taxed Enough Already

[Peter Pan]

Originally Posted by Joecooool

This is not true. Deficit spending got us out of Bush's recession.

9.8% unemployment and yes the economy is rocking out of this recession and they call the last recession when Bush was president was the jobless recovery, what the heck do you call this one? Minus jobs recovery?

I am Taxed Enough Already

[Joecooool]

Originally Posted by TxAg

Well since you Dems still have control of the House and Senate, why did the anointed one cave? They could have rammed more of their crap down the throat of Americans if they really wanted it.

Democrats do not have 60 votes in the the senate. I would assume that is the reason.

What ever the reason, I already said I lost a lot of respect for Obama this week. Hopefully (but doubtfully) Pelosi can kill it.

[Exotix]

Originally Posted by Joecooool

Democrats do not have 60 votes in the the senate. I would assume that is the reason.

What ever the reason, I already said I lost a lot of respect for Obama this week. Hopefully (but doubtfully) Pelosi can kill it.

I already posted how Congressional Bill voting works and I believe earlier in this thread ... i.e. in terms of the Majority & Supermajority and referred it to him twice already ...

He doesn't want to see it because it doesn't exist ... kind of like what happened when Obama came in ... Bush never existed ...

[DropTheTop]

Originally Posted by Joecooool

This information is misleading.

The vast majority of wealthy people in this country derive their income from long term capital gains. That is taxed as a maximum of 15% regardless of total income.

Warren Buffet issued a challenge a few years ago to the Forbes 400 to prove that anyone on that list paid more taxes by a percentage of total income than their secretary did. He even offered a million dollars to anyone who could show they do.

No one did.

Read this - Me and My Secretary - Forbes.com

So (some) people should continue to sponge off the Gov and not work, and we should hike the taxes of the rich more? By your logic, the effect would be minimal since the percentage of total income would barely increase. Sounds like you'd like to have the long term capital gain tax percent increased, as that would have a larger effect.

Again, why should the rich pay even more for the support of people not working for 2+ years? There are jobs out there, or all the "undocumented workers" as well as legit immigrants would be packing up and going home. Fact is we have a lot of lazy, proud Americans not willing to settle for less, and live to their means. Not the rich population's place, nor the Governments . . . to coddle them.

Comparing a taxable percentage of billions of dollars to the taxable percentage of 60K is ridiculous. I'm sure the guy paying out 9 Billion of his "lower percentage" is feeling taxed enough already!

I'd much rather see an additional 8 billion saved and 1 billion generated, by those 500,000 people small percentage) sitting around laughing it up, as I mentioned.

[ChasC5]

Originally Posted by Joecooool

This information is misleading.

The vast majority of wealthy people in this country derive their income from long term capital gains. That is taxed as a maximum of 15% regardless of total income.

Warren Buffet issued a challenge a few years ago to the Forbes 400 to prove that anyone on that list paid more taxes by a percentage of total income than their secretary did. He even offered a million dollars to anyone who could show they do.

No one did. or will

Read this - Me and My Secretary - Forbes.com

I'd bet Buffet's Million Dollars that no one on this forum could challenge your above post ...

They will dance all arond it or simply ignor it ...