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Tax Increases: Time To Pay Up

this is a discussion within the Poli-Sci Community Forum; I'd personally like to thank our Federal Government. There are going to be a lot of pissed off people next Spring. Americans for Tax Reform : 100 Days Until Taxmageddon The top income tax rate will rise from 35 to ...

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Old 09-21-2012, 01:04 PM   #1
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Tax Increases: Time To Pay Up

I'd personally like to thank our Federal Government. There are going to be a lot of pissed off people next Spring.

Americans for Tax Reform : 100 Days Until Taxmageddon

The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which the majority of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:
-The 10% bracket rises to a new and expanded 15%
-The 25% bracket rises to 28%
-The 28% bracket rises to 31%
-The 33% bracket rises to 36%
-The 35% bracket rises to 39.6%


Read more: Americans for Tax Reform : 100 Days Until Taxmageddon
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Old 09-21-2012, 02:39 PM   #2
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Re: Tax Increases: Time To Pay Up

More layoffs, more unemployment, more under-employment, more poverty and a bigger gap between the haves and the have-nots...

If America re-elects this moron, then we deserve to turn into Greece.
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Old 09-21-2012, 02:40 PM   #3
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Re: Tax Increases: Time To Pay Up

Originally Posted by Danno View Post
More layoffs, more unemployment, more under-employment, more poverty and a bigger gap between the haves and the have-nots...

If America re-elects this moron, then we deserve to turn into Greece.
Why you hatin'? We gots to pay for all this free stuff somehow?
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Old 09-21-2012, 02:47 PM   #4
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Re: Tax Increases: Time To Pay Up

Originally Posted by saintfan View Post
Why you hatin'? We gots to pay for all this free stuff somehow?
Are you a 47 percent moocher?
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Old 09-21-2012, 03:21 PM   #5
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Re: Tax Increases: Time To Pay Up

Originally Posted by Danno View Post
Are you a 47 percent moocher?
Are you kidding. This woman is my mother.

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Old 09-21-2012, 05:10 PM   #6
 
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Re: Tax Increases: Time To Pay Up

The left won't mind paying 75% ... send them to France!
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Old 09-24-2012, 05:53 AM   #7
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Re: Tax Increases: Time To Pay Up

OH THE HORROR!
The tax rates go back to where they were under Clinton when the economy was booming and our government had a surplus.
THE END OF DAYS IS COMING!

The Bush tax cuts were enacted at the same time as the out of control spending began. The bill has to be paid. There's no political way around it. What I would love to see is Democrats taking a political hit on strong entitlment reform and the Republicans taking the same hit on raised revenue. No political advantage. The problems and deficit are addressed. Doing what has to be done to move our nation forward.
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Old 09-24-2012, 06:29 AM   #8
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Re: Tax Increases: Time To Pay Up

This is where I think Romney just lost the election with the 47% remark and it's where I think a lot of Republicans and Conservatives lose their way.

A lot of these "47%" that are on unemployment, collecting disability and such may not pay federal income tax, but they do pay taxes in the form of social security taxes, medicare taxes, property taxes, et... To paint them with a broad brush and imply that anyone who collects any type of government assistance is totally on the dole is wrong and disenfranchises a lot of potential voters who would like to vote conservative, but are now insulted by and the target of the very Party they want to vote for.

Another portion of that "47%" that doesn't pay any federal income taxes are the richest households in the USA ... 4,000 of the richest in Romney's '47%' - Yahoo! Finance ... these are people that are rich enough and smart enough to take advantage of tax loopholes, are we going to vilify them for not paying federal income tax or are we just going to go after 'Joe-Average-$40k-a-year-who-got-laid-off-and-is-on-unemployment-with-two-kids-a-wife-a-dog-and-a-mortgage-payment-in-the-suburbs'? Hell, Obama paid a lower tax rate last year then his secretary, as did Romney, where is the outrage? What are we doing to correct those situations?

They've steadily closed the tax loopholes used by taxpayers like me over the years, ie credit card interest deductions, charitable donations deductions, the percentage of medical/mortgage and other deductions, to steadily increase the amount of taxes I pay every year. I would like to see them close some of these tax loopholes available to those in the upper income brackets as well.

All's I hear about from both candidates is 'fair this', 'fair that' ... how about just a flat tax without any loopholes ... can't get any 'fairer' then that, eh?
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Old 09-24-2012, 08:21 AM   #9
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Re: Tax Increases: Time To Pay Up

Originally Posted by SloMotion View Post
All's I hear about from both candidates is 'fair this', 'fair that' ... how about just a flat tax without any loopholes ... can't get any 'fairer' then that, eh?
The Fair Tax!!! We certainly agree on that.
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Old 09-24-2012, 08:24 AM   #10
 
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Re: Tax Increases: Time To Pay Up

Originally Posted by Danno View Post
The Fair Tax!!! We certainly agree on that.
Sadly, neither party has the guts to pass HR 25! It would shift power to the people, as it should be.

Full Text of H.R. 25: Fair Tax Act of 2011 - GovTrack.us
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