E46Fanatics

E46Fanatics (http://forum.e46fanatics.com/index.php)
-   Political Talk (http://forum.e46fanatics.com/forumdisplay.php?f=61)
-   -   Obama: Duh, we need more taxes (http://forum.e46fanatics.com/showthread.php?t=969262)

Act of God 02-04-2013 06:39 AM

Obama: Duh, we need more taxes
 
http://www.bloomberg.com/news/2013-0...ding-cuts.html

Quote:

President Barack Obama said there is “no doubt” the government needs new revenue from closing tax “loopholes” and limiting deductions, along with enacting spending cuts, to reduce the federal deficit.

There’s “no reason why we can’t have really strong growth in 2013,” the president said in an interview with CBS television yesterday before the network’s Super Bowl broadcast. He cited a recovering housing industry, strong manufacturing and rising car sales.

Revenue could be raised through an overhaul of the tax code, he said, “and we can do it in a gradual way so that it doesn’t have a huge impact.”

“There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit,” he said. “I don’t think the issue right now is raising rates.”
My question is this, is it ever enough? At what point does a statist say "ok we've taken enough"?

badfast 02-04-2013 07:03 AM

Quote:

President Barack Obama said there is "no doubt" the government needs new revenue from closing tax "loopholes" and limiting deductions, along with enacting spending cuts, to reduce the federal deficit.

There's "no reason why we can't have really strong growth in 2013," the president said in an interview with CBS television yesterday before the network's Super Bowl broadcast. He cited a recovering housing industry, strong manufacturing and rising car sales.

Revenue could be raised through an overhaul of the tax code, he said, "and we can do it in a gradual way so that it doesn't have a huge impact."

"There is no doubt we need additional revenue, coupled with smart spending reductions in order to bring down our deficit," he said. "I don't think the issue right now is raising rates."
whats the issue?

Act of God 02-04-2013 07:10 AM

What's the issue? We just raised taxes and he's already talking about raising more taxes. When is it enough?

bimer21 02-04-2013 07:13 AM

Yeah that sucks down here in FL they start already this year and we are getting less back! I make this year around 18k and I'm full time student work full time and live only with mom! They are giving me back 500$ that sucks! Because of the high taxes

casino is no lie 02-04-2013 07:57 AM

I support deductions as long as I'm eligible for them.

evolved 02-04-2013 08:00 AM

Simplifying the tax code and closing loopholes sounds ok to me but it would depend on what they were. It shouldn't come as a shock to anyone that revenue needs to go up and spending needs to go down, but the revenue part could be done two ways......as the economy improves tax receipts will naturally go up, or tax rates could go up (closing loopholes, limiting deductions, raising rates, etc.).


Quote:

Originally Posted by bimer21 (Post 15127275)
Yeah that sucks down here in FL they start already this year and we are getting less back! I make this year around 18k and I'm full time student work full time and live only with mom! They are giving me back 500$ that sucks! Because of the high taxes

I would be surprised if you are actually paying taxes after it's all said and done, Federally speaking. FL, too, since it's an income tax free state.

bimer21 02-04-2013 08:18 AM

I am paying my taxes i work for a company and they take like 14% of my paycheck every time! But the person who perform my taxes said that they are taking more because of the law and they are giving less! Thats not fair

Lair 02-04-2013 08:20 AM

I like it.

Let's start with eliminating the fed deduction for children. Breeders get enough breaks already.

Next let's get rid of mortgage interest deductions, and then we can talk about eliminating tax breaks for churches and their profit-making subsidiaries.

evolved 02-04-2013 08:21 AM

Quote:

Originally Posted by bimer21 (Post 15127357)
I am paying my taxes i work for a company and they take like 14% of my paycheck every time! But the person who perform my taxes said that they are taking more because of the law and they are giving less! Thats not fair

Why is it not fair? And are you referring to your 2012 taxes? I'm curious to know what taxes went up on a person in the 15% bracket.

bimer21 02-04-2013 08:24 AM

Yeah to my income taxes! Because i pay my school from my pocket, and i don't take food coupons from government and my mom has a bad job now wish is making like 13k last year! What you guys thinks about this

choxor 02-04-2013 09:03 AM

Quote:

Originally Posted by bimer21 (Post 15127365)
Yeah to my income taxes! Because i pay my school from my pocket, and i don't take food coupons from government and my mom has a bad job now wish is making like 13k last year! What you guys thinks about this

I think you're driving the wrong car. No offense. Especially if your mom is struggling like that.

bimer21 02-04-2013 09:10 AM

Nah its ok i wont feel bad for that! Thanks by the way but i don't need to be a high class people to drive a BMW, i can afford it, and i feel in love with my ride and will work hard to maintained!

casino is no lie 02-04-2013 09:23 AM

Quote:

Originally Posted by bimer21 (Post 15127275)
Yeah that sucks down here in FL they start already this year and we are getting less back! I make this year around 18k and I'm full time student work full time and live only with mom! They are giving me back 500$ that sucks! Because of the high taxes

I don't think you understand the concept of refunds. You're getting back $500 because you over paid the Government $500. If you were smart you'd have a refund of $0 because you didn't lend the Government a single interest free penny.

bimer21 02-04-2013 09:28 AM

Yes but last year i make 17.5k and i get back 1.2k and this year i make 500$ more and they give me 700$ less and i still working on the same company! And now they are taking 14% of my check and last year they were taking 12.9%, they taking more now!

casino is no lie 02-04-2013 09:45 AM

Quote:

Originally Posted by bimer21 (Post 15127473)
Yes but last year i make 17.5k and i get back 1.2k and this year i make 500$ more and they give me 700$ less and i still working on the same company! And now they are taking 14% of my check and last year they were taking 12.9%, they taking more now!

Talk to your payroll department because nothing changed for the most part in 2010 and 2011. Until you understand the breakdown don't complain.

evolved 02-04-2013 09:50 AM

Quote:

Originally Posted by bimer21 (Post 15127473)
Yes but last year i make 17.5k and i get back 1.2k and this year i make 500$ more and they give me 700$ less and i still working on the same company! And now they are taking 14% of my check and last year they were taking 12.9%, they taking more now!

That makes sense, actually. After your exemption (assuming single, 18 or older with no kids) and standard deduction you should be paying around $825 in federal taxes which is 10%. On top of that you pay 4.2% OASDI (Social Security and Medicare).

Rhumb 02-04-2013 10:15 AM

Quote:

Originally Posted by Act of God (Post 15127248)
http://www.bloomberg.com/news/2013-0...ding-cuts.html



My question is this, is it ever enough? At what point does a statist say "ok we've taken enough"?

When the budget is balanced. Hasn't that been the main rallying point for the GOP lately? Or is that merely in service as a convenient cudgel to try to implement broader ideological/policy objectives (dismantling the social safety net and social spending)? The GOP's messaging here is very confused and seems to be more tactically driven and reactionary.

If cutting the deficit/debt through spending is Priority One, then they ought to be pleased as punch for large reductions in defense spending now that we're basically out of two immensely expensive long wars (one ill fought for much of it, the other ill-conceived from the start). Propose that and Proirity One suddenly becomes Priority Seven or Eight in order to further plump up our massive defense expenditures/infrastructure/military-industrial comlex (often argued to save jobs in ____ congressional district, just the sort of economic stimulus/support argument the GOP would otherwise decry as socialism). Or how about farm subsidies? Or a range of energy subsidies? Or any other number of programs near and dear to the hearts of the GOP?

Do recall that income taxes are at a rather low level, historically spreaking.

2000_328CI 02-04-2013 10:20 AM

Raise taxes and CUT SPENDING.

Why Obama is unable to recognize the latter is just beyond me.

evolved 02-04-2013 10:24 AM

Quote:

Originally Posted by 2000_328CI (Post 15127574)
Raise taxes and CUT SPENDING.

Why Obama is unable to recognize the latter is just beyond me.

History has shown that the Republicans don't recognize the latter, either.

SLVR JDM 02-04-2013 10:25 AM

Black people aren't exactly known for being good with money. :eeps:


All times are GMT -5. The time now is 09:05 AM.

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
(c) 1999 - 2011 performanceIX Inc - privacy policy - terms of use