Obama Tax Deduction Plan DOA?

I just loooove his plans being DOA!!!

“But their bottom line message to lawmakers: If you have a better idea, we’re all ears. ”
Nope won’t say it, to easy….

Fishing.
It’s pathetic to have a prez does this ALL the time.

Regardless of what you think, this president has the support of the public, he may not win all of the battles, but he is going to win the war.
The publuic supports him, and his policies.

Dream on, thinking.

dont worry republicans, all that acorn money in the stimulus package means that we liberals will have all the time in the world to get our wish list passed.
enjoy your new life in socialist america ,and dont say you didnt ask for it!

Woody:”Obama’s War on Prosperity continues unabated.”
Another Republican who believes that “the fundamentals of our economy (were) strong” just before the election, and we’re a “nation of whiners” making up a “mental recession” I take it.
Yes, the taxation levels of the 90′s (lower than the 80′s under Reagan in most areas!) – a growth period unrivaled for over a generation – are a “war on prosperity.” That’s hilarious.

Yea I have a better idea
“But their bottom line message to lawmakers: If you have a better idea, we’re all ears. ”
Cut the top marginal rate to 28% and ALL deductions will fall to 28%.
Better yet cut the top marginal rate to 10% and ALL deductions will drop to ten percent.
Kinda see where I’m going here/
sw

Bill Gates donates $1 to charity, he takes 35 cents off his income tax.
Actually that’s not correct. Bill Gates makes his billions from selling stock at the top tax rate of only 15%. It’s the upper income wage slaves that get the 35% deduction.
Reduce the top INCOME tax rate to 15% and we will all be in the same boat as Bill.

Who is paying at Obamas Wed. Night Party Next Week?

In California they are taking children and seizing the parents real estate. Maybe that’s how Obama plans to pay for universal health. My daughter was never abused but we do own real estate. Now the Comptroller of the Currency has flagged all of my bank accounts and Bank of America is calling my loans due. If I don’t come up with 250,000 they will take my business. Banks aren’t giving loans so this is how they are seizing real estate.
Our story:
http://www.cpscorruption.blogspot.com
Kathleen Dearinger

Obama contributions cut will eventually pass. Dems on Hill trying to make it look like they will oppose Obama on things that hurt thier biggest donors, but in the end, a modified version will pass. That is the new bipartisan way. Liberal and conservative dems working together to move the popular agenda forward, and looking good in the polls doing it.

Ranger ,unfortunately you’re blinded by partisan bias I fear.
I am a Liberal ,from the 60s. You definitely need to re-evaluate your objectivity , everything I posted was a fact. I have noticed several posts where democrats are denying some of the more far-left particulars of the agenda of this current administration ,just to glad hand the republicans I guess ,or to appear less radical.
Personally , I am a radical. I am very glad the liberals are building up walls and ditches for republicans to have to cross to get elected ,the deeper and taller and wider ,the better. Hopefully the democrats will make it so hard for republicans to run for office ,they will just give up and move to haiti or somewhere.
I am truly happy about all the porky acorn money that got earmarked onto the omnibus package personally ,and I am happy that it will be a burr under the saddle of all republicans hoping to get elected/re-elected.
Thems the facts Mr. Ranger…

I give him credit he is a great speaker, he can talk right past a lie. BTW when did it become a crime to be successful in the US. Should all “wealthy” just give thier entire paychecks to Washington, so Washington can be irresponsible at new levels. Obama needs to exibit a little common sense here, some of us are still checking the facts

jhw539″ Yes, a third world country. Maybe we can give Somalia a run for their money – lord knows many of our interstate bridges are getting close.
Sounds like you like paying higher taxes. Do YOU pay the 35% rate. I already pay for plenty nice roads. Are you paying YOUR fair share?
Pay for what you use and stop coveting other peoples property.
Envy too is a sin.

I hope they are DOA because his budget, and spending will RUIN this country. Go ahead and take away my deductions for mortgage, state taxes and charitable contributions. Then we will all revolt and hand you the keys to our homes and we will rent. More homes on the market and no more reason to buy.

boy , i LOOOOOOOOOOOVE hearing the rich whining about taking up the rear for once……
WOOOOOOOOOHOOOOOOO!!
REPUBLICANS WHINING MOANING AND CRYING ….ON THE RUN.
GOOD TIMES!!!
WOOOOOOOOOOHOOOOOO!!!
THANK YOU JESUS!!

Universal health care…..joke. We don’t need it. People need to have their health as their priority instead of spending money on big SUV’s. Why should us hard working people pay for someone else’s health care! Go ahead and you;ll see what socialized medicine is all about. why do you think europeans come to the US for health care….oh, could it be better….GOVT NEEDS TO STAY OUT. Take a look at how crappy military socialized medicine is. You cannot get the good medicine you need or appointments when you need. You have no idea, and you’re ruining it for the rest of us.

@edlaw — I think we’re on different sides of the fence, politically, but I appreciate you pointing out the blatant flaws in their rhetoric.
http://kaolinfire.livejournal.com/436765.html

Please Please People.. be silent about the GREAT LEADER, Comrade Obama, will send you cabbage soup if you return to your cardboardbox homes and 12 family per 2 bedroom apts.
He may even let you own a wonderfully built Russian automobile..Now be silent and be thankful to the Great Leader… friend of Comrade George

Take something back you say……why do you morons think I should give you MY HARD EARNINGS. I am an honest wage earner and should not have to share my earnings with anyone but my family, and you jealous people think that is fair. Perhaps, we should go after yours, but that wouldn’t be fair.

jhw539, you are the ignorant one. Hospitals do not turn away anyone – oh, I just feel so sorry for you morons. Take responsibility for your own health care. Why don’t you just move to Canada and use their socialized system?

girlz:”jhw539, you are the ignorant one. Hospitals do not turn away anyone – oh, I just feel so sorry for you morons.”
? That is exactly what I said. Hospitals are required to treat anyone, regardless of their ability to pay. That’s free, universal health care and that was my entire point. Try reading what I said again, slowly:
“Until hospitals are legally allowed to literally allow people without insurance to die of an infected cut on the sidewalk outside their door (just like some – not all – third world countries) we have universal health care.”

I like that I can go to my gas station and get Obama glow sticks and stickers for my car.
That’s how we boost the economy at levels we can all understand.

ricky dean the dream: “Read the stimulus bill (if you can) then you’ll see there are over 2000 different programs ,some/many are new programs some have been around for years , that ACORN ,and similar groups will be fund-eligible for .”
There is more than that I am eligible for, but I don’t make the absurd claim the stimulus bill has $33 billion in it for me. The bill allocates NOTHING to ACORN, not one cent. This is verifiable fact – the bill is public. It has a great deal of spending that is open to bid competition. Your assumption that there is some nefarious plot to rig the bids to funnel the money to ACORN is absurd.
You’re welcome to have a problem with my objectivity (I try not to hide my bias). I have a problem with your (lack of) facts.

ricky dean the know-it-all: in defense of jhw539, no – not every hospital is required to treat everyone. that is an ignorant statement. hospitals are based on profit/non-profit status. some are required to treat – others legally do not have to. many get away with illegal shuffling of patients. many hospitals are closing due to requirements to treat, especially due to illegal immigrants. you probably don’t know that Michelle Obama was responsible for transferring those unable to pay (at a hospital which was REQUIRED to take everyone) from her Chicago hospital to outlying clinics to make room for more expensive, PAID procedures. Not legal, but that’s how the Obamas work. don’t believe everything you hear, and quit drinking the koolaid, huh?

Rich people are greedy, that’s how they became rich in the first place. It should not surprise people they don’t want to share their wealth with anybody. Not even if it means saving the country from the greed ridden society that created this mess in the first place.
Make no mistake about it, the economy is in shambles because of greed. Everybody had dollar signs in their eyes like an old loony tunes short and never thought about the consequences of their irresponsibility. Now that it is a call for responsible patriotism, those who CLAIM to be patriotic are scoffing at the thought of being catalysts for an improved way of life for everyone.
How dare you?

Its DOA because of the liberals, they want a high federal tax while failing to have state income tax, food tax or proper sales and use taxes. No wonder they have such terrible state health care and schools. The liberal states cannot provide the basic needs because they avoid proper taxes. Liberals need to put their money where their mouth is and pay up.

A middle-class family donates $1 to charity, they get 15 cents off their income tax. Bill Gates donates $1 to charity, he takes 35 cents off his income tax.
Either give me the 35 cents off too or drop it to a flat 15 cents for everyone. Republicans are always screaming about having a flat tax rate.
Be careful of what you wish for!

This is why engineering social policy through tax law is a bad idea, period. Quit the charade, set a graduated flat tax, eliminate itemized deductions. I don’t see why anyone would oppose it – put in a floor, say $40K. Below that pay nothing. Then increase it a percent for every $5K until you get to the top rate, maybe 15% or so? Take all of your income – salary, cap gains, benefits, compensatory reimbursements, dividends, etc. – and tax according to that plan.
We have to stop this class warfare of thinking that a small group of people is going to pay the way for everyone else.

Posted by: ricky dean the dream | Mar 5, 2009 10:33:16 PM
Since you are determined to spread a right winger lie and chastise those who point out you are incorrect -please prove us all wrong with the actual facts (those do matter – sorry to disappoint)
The stimulus bill is on-line. Please provide the section and segment of the bill all the money specifically for Acorn is allocated.

Charity is irrelevant. The Government will take care of you and pay your mortgage. If you need private charity it is because you are insufficiently patriotic.

“Major “buyers remorse”. Gotta love watching Liberals realize their messiah is a “devil” with great slight of hand skills.”
…um, no.
63% approval rating. There is no “buyer’s remorse” by liberals. The only people screaming are Republicans who didn’t “buy” into Obama in the first place.

Thinking wrote: “Regardless of what you think, this president has the support of the public, he may not win all of the battles, but he is going to win the war. The publuic supports him, and his policies.”
—————————————-
The public that supports him are the people that thought Obama was going to pay their bills for them once he was elected. Even most of these folks are beginning to realize that this isn’t going to happen.
Posted by: | Mar 5,

Mmmmmm….smell that class warfare! Bang up job people. Way to stereotype all Republicans as rich and all Democrats as poor.
Here’s what most of you don’t get about opposition to public health care. It has nothing to do about the rich being greedy, it’s about principle. You want my tax dollars to fund health care for myself and anyone else? Why should my tax dollars pay for your blood pressure meds when you’ve been eating fast food daily for 20 years with no exercise? Why should I pay for your lung cancer treatments when you’ve continued to smoke knowing it causes cancer?
You figure out how to make my tax dollars support only those who have taken care of themselves and have been responsible with their health and I think we’re all on board. Just don’t call me greedy b/c I don’t want anyone’s tax dollars going to support people who don’t do their part to eat right, excercise, and not smoke (or anything else that knowingly causes disease).
Problem is that no one has figured out a way to do that. So until Obama comes up with a way to do that, you’re freaking right I and anyone else who agrees with me is going to complain about public health care. And it has nothing to do with being rich or poor, republican or democrat.

The house and senate are a society in and of themselves – filled with self-serving people, who generally don’t have a clue how to run a successful / profitable business. The solution is to stop taxing and giving wastefully to absurd / self-serving interests. Sound fundamentals principles are the solution… not taxing and spending, and class warfare.

“How is it fair to assess taxes at a rate higher than the deduction you would get.” Posted by: Ken Nead
It is not about fair, it is about the government telling us where our money should be spent. They should only be taking what is crucial to the US’s existance, and STAY AWAY from the rest. Noone knows what is best for everyone. We need to get back to what made America beautiful, “Let the People decide what is best. Not have the government impose their opinion.”
This is eliminating freedom, and it is now happening in leaps and bounds.

Is it time for a new round of civil disobediance, so effectively pursued by Gandhi and M L King? Is it time to rise up and overwhelm the IRS by massive non-payment of taxes? Just asking.

President Obama does not like charities, because it reduces the need for welfare, and President Obama loves welfare. Lets look at the distribution of who pays our income taxes…
Top 1% of wage earners pay 39% of our taxes.
Top 5% of wage earners pay 60% of our taxes.
Top 10% of wage earners pay 70% of our taxes.
Top 25% of wage earners pay 86% of our taxes.
Top 50% of wage earners pay 97% of our taxes.
Bottom 38% of wage earners pay ZERO taxes.
President Obama doesn’t like the 10% evil rich (that selfishly create most jobs and pay 70% of all our taxes), so their taxes are going to go up. Much of the rest are getting tax cuts, but about half those folks don’t actually pay taxes. So 50% of President Obama’s tax-cut stimulus is just free money for the poor/lazy, which I prefer to call “welfare”.
The really scary thing (IMHO) is that the welfare percentage is now rapidly growing due to the growing unemployment. Once above 50%, only the social-welfare party (aka democrats) will ever get elected again. Then as a one party state, anything goes. The government eventually controls everything … people stop trying to innovate because there is no point … game over … innovation is dead. Capitalism is dead. Welcome to the United States of Venezuela.
And of course, ultimately the extra tax load on the evil rich (intended to help the poor) will just rain down on the poor as higher priced (or lower quality) goods/services. So their welfare checks aren’t really getting them anything good in the long run.

Regarding the cost of health-care, there is a simple fundamental reason why it is so expensive. It is more expensive, because for each medical professional (aka a doctor/nurse) there are two or three bureaucrats (lawyers, managers, accountants, consultants, administrators, coordinators, communicators, planners, etc).
The bureaucrats triple the cost of health-care, while providing little value to the end customers/patients. The bureaucrats also make most of the key decisions, hence their large and growing numbers.
Unfortunately, when President Obama says he will make health-care “more affordable” he does not mean he will reduce the bureaucrat overhead. Rather, he just means that the evil-rich will pay the health-care bills of the poor/lazy.

Something for nothing always SOUNDS good, but elementary economics, now almost grade school ecenomics, tells you that
“there is no such thing as a free lunch”.
Why do big government supporters ignore this simple but exclamatory statement. I am all for an impeachment, where do I sign.
In fact, I am going to start a website today that is dedicated to that very agenda.
I don’t mind a few programs that aid people and encourage them to do what is right, some green laws. Society as a whole doesn’t always take the initiative to do the right thing. Government has created laws to influence people to do what is best for the economy, even if they don’t know that it is, ie home interest deduction, etc.
So why would we think that those people, those that don’t even understand the most basic of all economic principles, as stated above, would know that it is not good to take a free lunch. Let those that know lead. Let those that don’t just enjoy living in the most blessed, most prosperous, greatest, most looked to country in the world.
People, come on, we need to set limits on the healthcare industry, not give them a guaranteed payment. That only gives them a license to extort. You only have one life, you have to salvage what you to live, so there is a monopoly on saving your life. The doctor has that monopoly. Why can’t we protect society from those that prey on that monopoly, the same as we protect ourselves from a monopoly in our monies.

Even plans by good people, often have major flaws and unintended consequences. I have one particular beef. The $3000 limit on deduction of capital losses is grossly unfair and destructive for everyone and especially for retirees and people approaching retirement. Think about it. There is no limit when taxing capital gains but when you take a loss, the tax code expects that you will have offsetting capital gains in the future. That is a fallacy for older people. Also, investment income comes for both capital gains and dividends. Therefore you pay big taxes on dividends but are limited to $3000 on capital losses. Also, the older you get, the less likely that you can make up your losses using capital gains for two reason (1) not enough time and a larger portion of income comes from dividends as you become older. There are some obvious fixes to this problem but who in our government really gives a damn about fairness or the hardship that the current tax code places on retirees?

Why is it that the entire world stepped up and made their voices heard on election night..and now all the people that were outvoted feel the need to speak out against anything that our new president does, has done, or will do???
Depressing that no one has faith that things will turn out exactly as they’re supposed to…if we’re just patient. Besides…lol…it’s not like any of you grump complainers are actually making a difference with what you say!

Ronald Reagan took away most deductions from the middle class and gave tax cuts to the rich while Bush did more of the same. The rich have gotten richer while the working middle class have gotten poorer. It’s about time to make those that can afford it the most pay for this deficit that gwb has created.

Most of Obama’s people aren’t smart enough to realize Obama is lying to them and continues to lie to them. BTW, boys and girls Obama’s voiding the mortgage deduction hits those make less than $250,000 that Obama tosses out at times. And you should note Obama has voted in the past to raise people taxes who aren’t even in the middle class….

It seems pretty simple to me. Obama believes that the government knows best when it comes to what to do with your money.
The theory is everybody should have enough. Anybody who had more than what the goverment decides is enough should have that excess taken and distributed by the wise and benevolent government because…you guessed it…the government knows best what to do with your money.
Given government’s record in efficient and appropriate use of taxpayer money, I have little faith in its ability to solve economic and social problems.

Think of the scenario where a married couple are both working professional. The deduction plan not only induces the need for them to cut back on working hours (in order to avoid paying higher taxes), it also cuts back on hiring staff, AND reduces ability to spend which is what Obama wants. It’s a paradox which this country does not need. Obviously, not good foresight in this proposal.