Obamas tax plan

[darkknight]

is it 25 or 250..?

250k=250,000
25k=25,000

 

[carbo-fation]

I think you meant to say, 250K!

 

[OK SITHLORD]

I think you'll be fine. 25k is a ^^^^ load of money. If you can buy food, you're golden soul brutha!

No, 25k is not alot of money for my line of work!! Don't intend to break my body daily for just food!! With obama in office, guess thats what i'll be doing!!

 

[CelticPredator]

I think you meant to say, 250K!

Yeah, see I knew I was wrong there....I ment 250k...ok so who makes more then that.

 

[darkknight]

Yeah, see I knew I was wrong there....I ment 250k...ok so who makes more then that.

Not me, but its still unfair for the small family business. What do you think about Joe the plumber? Or even what if Joe the toy seller wants to expand his business?

 

[CelticPredator]

How much is he going to tax them? Please...no percents. I hate math, give me soild numbers.

 

[Mesa]

Yeah, see I knew I was wrong there....I ment 250k...ok so who makes more then that.

You're missing the point entirely.

You shouldn't be punished for being successful, and you certainly shouldn't be rewarded through other people's tax dollars for being lazy and not wanting to work hard and hoping someone else takes care of your needs.

No one ever said life is fair or easy. If Obama's promising you that, it's a short lived fantasy that will cause an even bigger financial collapse than the bubble we're currently in.

You may not care now cause you're still a student, but wouldn't you feel differently if you made a salary and had to take your hard earned money and give to someone else that doesn't want to work?

What happens if $250,000 isn't enough to finance all the poor people of the US and we can't give everyone free healthcare? Then do we tax anyone making $100,000 more?

It's socialism. I AM COMPLETELY FLABBERGASTED THAT UNITED STATES CITIZENS ARE WELCOMING IT WITH OPEN ARMS.

 

[RoboDad]

I don't know if anyone else has heard this yet, but Hawaii, the only state in the US to offer a universal health care plan, has ended it today, citing budget shortfalls as the primary reason.

The real reason? Because the way the plan was structured, it was supposed to be a "wealth-sharing" system, where the "rich" would continue to buy insurance out-of-pocket, and the "poor" would be cared for by the state. but after only a few months, many people decided that that they shouldn't have to pay for something that someone else gets for "free", so they started canceling their private coverage and using the state-sponsored system. And then it was unable to meet the demand.

Does anyone really think that exact same thing will NOT happen if they try it at the federal level? They will either have to triple the taxes collected to pay for it, in order to accommodate the people (like me) who will refuse to pay twice for health insurance, or else they will fail, just as Hawaii has.

 

[Mesa]

I don't know if anyone else has heard this yet, but Hawaii, the only state in the US to offer a universal health care plan, has ended it today, citing budget shortfalls as the primary reason.

The real reason? Because the way the plan was structured, it was supposed to be a "wealth-sharing" system, where the "rich" would continue to buy insurance out-of-pocket, and the "poor" would be cared for by the state. but after only a few months, many people decided that that they shouldn't have to pay for something that someone else gets for "free", so they started canceling their private coverage and using the state-sponsored system. And then it was unable to meet the demand.

Does anyone really thing that exact same thing will NOT happen if they try it at the federal level? They will either have to triple the taxes collected to pay for it, in order to accommodate the people (like me) who will refuse to pay twice for health insurance, or else they will fail, just as Hawaii has.

Yeah, we were talking about this at work. It's a perfect example.

Here's a link from CNN, so hopefully some liberals will actually read about this failure.

https://www.cnn.com/2008/HEALTH/10/17/hawaii.health.ap/index.html?iref=newssearch


.

 

[OK SITHLORD]

Not me, but its still unfair for the small family business. What do you think about Joe the plumber? Or even what if Joe the toy seller wants to expand his business?

Or our family biz, my pops takes in over 250k but after he has to pay people it's not even close to that amount. But with obamas super awesome plan My pops, whose body is basicly destroyed can go ahead and work harder to support a buch of lazy slackers!The though of obama in office makes me sick!

 

[darkknight]

I don't know if anyone else has heard this yet, but Hawaii, the only state in the US to offer a universal health care plan, has ended it today, citing budget shortfalls as the primary reason.

The real reason? Because the way the plan was structured, it was supposed to be a "wealth-sharing" system, where the "rich" would continue to buy insurance out-of-pocket, and the "poor" would be cared for by the state. but after only a few months, many people decided that that they shouldn't have to pay for something that someone else gets for "free", so they started canceling their private coverage and using the state-sponsored system. And then it was unable to meet the demand.

Does anyone really think that exact same thing will NOT happen if they try it at the federal level? They will either have to triple the taxes collected to pay for it, in order to accommodate the people (like me) who will refuse to pay twice for health insurance, or else they will fail, just as Hawaii has.

That is funny, I haven't heard of it or probably ignored it. I'm from Hawaii and yes it is corrupt here. They even want to make a damn railway system here, but people don't see that the taxes will increase. And yes there is allot of Obama fan here because he went to high school here and I think his grandmother lives here.

 

[barbelith]

You shouldn't be punished for being successful, and you certainly shouldn't be rewarded through other people's tax dollars for being lazy and not wanting to work hard and hoping someone else takes care of your needs.

Progressive taxation isn't punishment. Federal studies show most people who accept welfare do so for a limited period of time. Your entire second clause is a myth.

It's socialism. I AM COMPLETELY FLABBERGASTED THAT UNITED STATES CITIZENS ARE WELCOMING IT WITH OPEN ARMS.

Do you wish to dismantle the military or are you a hypocrite? The US has a long and proud history of socialist institutions including road works, police departments and public schools. But all of that is irrelevant because Obama is not forcing a socialist health care system on anyone. If you want to stay in your overpriced private lottery scheme you're allowed. Isn't that wonderful?

Does anyone really think that exact same thing will NOT happen if they try it at the federal level?

Private care providers will have to compete? Oh no!

 

[LChinoz]

Interesting overview of both tax plans:

https://www.washingtonpost.com/wp-dyn/content/story/2008/06/09/ST2008060900950.html

 

[Darklord Dave]

Or our family biz, my pops takes in over 250k but after he has to pay people it's not even close to that amount. But with obamas super awesome plan My pops, whose body is basicly destroyed can go ahead and work harder to support a buch of lazy slackers!The though of obama in office makes me sick!

98% of small businesses don't make a taxable income over $250K a year. You're supposing that the income tax is on gross income rather than net.

 

[woodsy]

Progressive taxation isn't punishment. Federal studies show most people who accept welfare do so for a limited period of time. Your entire second clause is a myth.

The myths are certainly flying around here, though Mesa's isn't one of them. Instead of dazzling us with what you're read somewhere, why don't you actually spend some time in a government subsidized housing project and see for yourself just how long people stay on welfare.....or are these housing projects a myth too?

 

[DarkArtist81]

I know that Welfare and Food Stamps helped my Mother immensely when she was taking care of my sister and I, alone. Although, growing up... we had no health insurance or dental plan. Hell, I didn't go to a dentist until I was in the Navy.

We have many so called "socialist" institutions in our country, and many have worked out very well for the people in this country.. myself included.

I also think that the health care system needs to be overhauled. My Wife can't get insurance because of a condition she had when she was a teen. I can't be insured for any skin treatments because I had skin cancer. We can't afford insurance at all right now...

 

[darkknight]

98% of small businesses don't make a taxable income over $250K a year. You're supposing that the income tax is on gross income rather than net.

Well, I know that a couple that are both RN's could make a net income of $250k after busting their butts. It's not just small business, but it does not matter if it's that 98% that don't make the $250k. It would be just unfair. How would you feel honestly if you make $250k next year and found out your money will be spread to the lower income. I would be pissed. I know people would say I would be happy with making that amount of cash. But would you want to give it away after all your hard work?

 

[devilof76]

I know that Welfare and Food Stamps helped my Mother immensely when she was taking care of my sister and I, alone.

I'm sure it is extremely helpful. The question is whether or not it's necessary. Americans gave over $240 billion to private charities in 2003, and it passed $300 billion in 2007.

 

[Darklord Dave]

Well, I know that a couple that are both RN's could make a net income of $250k after busting their butts. It's not just small business, but it does not matter if it's that 98% that don't make the $250k. It would be just unfair. How would you feel honestly if you make $250k next year and found out your money will be spread to the lower income. I would be pissed. I know people would say I would be happy with making that amount of cash. But would you want to give it away after all your hard work?

It's only the amount that's over the limit that gets taxed at the higher rate. No - I wouldn't want to be in the 36% bracket - only my income over $250K would be taxed at that rate.

https://money.cnn.com/2008/10/15/smallbusiness/small_biz_taxes_factcheck.smb/index.htm?postversion=2008101714

For example: If a small-business owner makes $210,000 in taxable income, he edges into the 33% bracket, one of the two top tax rates that Obama would like to raise.

But he would pay the higher tax only on the amount that exceeds the cutoff - in 2007, the two top tax rates applied to single filers with income of $160,850 or more and joint filers with income of at least $195,850. As a single filer, this business owner would see his federal taxes increase $1,475 under Obama's plan, which calls for raising the 33% tax rate to 36%.

"While Obama does favor raising the top two rates, the quote is not true because not all the small business income of those in the top two rates is taxed at the 33% and 35% rates," said Gerald Prante, a senior economist at the nonpartisan Tax Foundation.

The bottom line: McCain's claim only works by using an overly broad definition of what counts as a "small business" - and even with that definition, fewer than 2% of business owners would be hit by Obama's proposed rate increase. For those who are affected, the increase would be levied only on a part of their earnings, not all of them.

 

[LordAzrael]

I also think that the health care system needs to be overhauled. My Wife can't get insurance because of a condition she had when she was a teen. I can't be insured for any skin treatments because I had skin cancer. We can't afford insurance at all right now...

As I understand it both McCain and Obama stated in the third debate they will address uninsurable persons either due to pre-existing condition or family history - so hopefully post election both yourself and wife can be insured regardless of who wins.