Actually, why is this off topic? It's about taxes.
Last week I bought a faucet for my kitchen sink. I paid taxes on it, so by your thinking, kitchen faucets are on topic.
rabble wrote:This ain't your forum, I ain't your boy, and you were lying through your teeth when you said "So the 75% of the new taxes will come from Romney's plan that Obama was against."
Just admit that and I'll stop. It might cut into your well known credibility a little bit, but you're strong. You'll bounce back.
Sandi wrote:Romney didn't have a plan. He called for a huge REDUCTION in rates and was to be offset by unspecified closing of loopholes (which anyone not on his payroll decried as impossible).
Ah, like Obama's "unspecified" spending cuts 10-20 years into the future!
Sandi wrote:...I didn't write the article in the NY Times, I posted it for discussion.
Seldom mentioned is that Mr. Obama’s revenue total also reflects four other changes from Bush-era tax cuts: higher tax rates on investment income from capital gains and dividends, and the restoration of two other Clinton-era provisions limiting deductions and tax exemptions for affluent individuals.
Together those changes would raise $407.4 billion over a decade — nearly as much as the president’s proposal on higher rates, which would raise $441.6 billion by 2023, for a total of $849 billion. Another $119 billion would come from higher estate taxes, opposed by Republicans and some Democrats.
And both the president and Republicans are committed to raising hundreds of billions of dollars by overhauling the tax code to further limit or end the tax breaks that high-income taxpayers can claim, though they differ in how to do that.
Mr. Obama has proposed to keep existing tax breaks but to limit the rate of those breaks for people in higher tax brackets to 28 percent, which would raise $584 billion in a decade. He has proposed variations of that proposal for four years, only to be ignored by both parties because of opposition from charitable groups, the housing industry, insurers and others to curbing deductions for charitable giving, mortgage insurance and other purposes.
Under Mr. Obama’s plan, the tax rates for long-term capital gains and dividends, now 15 percent, would revert to 20 percent for capital gains and to 39.6 percent for dividends, the same as for ordinary income.
Maybe you missed those parts. Or perhaps you could show us Romney's plan that details these provisions (and Obama's opposition to the same).
Sandi wrote:Now lets talk about where spending cuts should be made, and they will have to be enough to first offset Obama's new spending, then get into cutting overall spending.
Sandi wrote:Reduced deductions for incomes over $200,000 and increased taxes on dividend income.
So the 75% of the new taxes will come from Romney's plan that Obama was against.
Detritus wrote:Hey, this is serious guys. You'd better do what Sandi says, or he/she/it will stop coming to this forum. That'll show us.
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