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Tags >> taxes

Tax Breaks What Tax Breaks

Posted by: kow

Tagged in: taxes , death tax

So now the big tax saving bill goes to the House for a vote, maybe this afternoon. The donks, lead by the mesiah in this instance, claim this is the saving bill for middle class families. The unltra donks claim the big bad meanies with a bunch of money are getting away with something. They also claim the death tax is far too low, whick might hold up the vote today. 

What do we even have a death tax in this bill for? With a 35% tax, a business handed down or willed, will most certainly have to be sold off for taxes or damage their future meaning layoffs at the least. With a higher death tax the business will be sold off for taxes, no ifs ands or buts. Why in the world should Americans work themselves into an early grave in some cases, just to hand the fruits of their labor over to the socialist government?

What I wonder is, why all the panic? There's a Republican Congress coming in next month that can pull all the strings in a bill fitting all their needs. So what if the Bush tax breaks expire? They'll expire for what, two weeks? The bill as it stands, only kicks the tax breaks down the road to where Obama can use it to his advantage, before election time, once again. 

I say screw your middle class tax breaks Barry. Let em expire, along with your death tax at any rate. Tea Partiers pushed the Republicans across the finish line last November and they have a huge public backing still, a backing that duhbomba would have to back down to.   

Contained in this link is a nifty interactive calculator.  Just enter your annual salary and it will calculate what your federal tax burden is currently scheduled to be, then what it will be if the tax cuts expire.  The BMW and I will experience an increase in our tax burden of nearly 12%.  We are not rich.   
After the break, you'll find a breakdown of what the increases will mean.

The most transparent administration evah continues to be, well, as clear as mud.

Rep. Charles Rangel reportedly has struck a deal with the congressional panel investigating alleged ethics violations.

A deal.  What kind of a deal we don't know, but this begs the question - WHY?  The man that sat as Chairman of the Ways and Means committee is up on tax violation and ethics charges.  That committee deals with, um, TAXES, among other things.  And he's getting a deal??  Didn't San Fran Nan suggest that she was prepared to "drain the swamp" recently?

Or in Tim Geithner's case maybe that should read "out of my ass?"

In his speech, Geithner renewed pledges that the Obama administration would cut its huge fiscal deficits and promised "very disciplined" future spending, possibly including reintroduction of pay-as-you-go budget rules instead of nonstop borrowing.

"We have the deepest and most liquid markets for risk-free assets in the world. We're committed to bring our fiscal deficits down over time to a sustainable level.