I just got my paycheck, and that stimulus bill sure is kicking in. I got a whole $32 more in my bi-monthly paycheck than I did in the paycheck before.
I hope I don't get crazy and spend it all in one place.
What a crock.
Elliot
|
I just got my paycheck, and that stimulus bill sure is kicking in. I got a whole $32 more in my bi-monthly paycheck than I did in the paycheck before.
I hope I don't get crazy and spend it all in one place.
What a crock.
Elliot
Give it back then you ungrateful SOB.
Hay ,send it to me.I could sure use it!
No, problem. It'll be taken back, and then some, in the form of higher taxes. I don't even need to give it back... the IRS will do it for me.
That would be the same no matter who is in the White House.
Don't worry, you'll get your $13 per week too. And all the money that is collected in increased taxes will be used by the government welfare state to make sure you get the help you "need". Be of good cheer... help is on the way.Quote:
Originally Posted by artlady
I beg to differ. Even most Democrats know that you don't raise taxes during a recession. Only Obama the Marxist and his coterie of useful idiots think that a recession is a good time to raise taxes and create new welfare programs and expand existing ones. This would not be happening "no matter who was in the White House".Quote:
Originally Posted by NeedKarma
Hello Elliot:Quote:
Originally Posted by ETWolverine
What you got is a tax cut. If tax cuts don't work, then you Republicans got nothing. You're just figuring this stuff out??
You're right though. The money should have been spent on creating giant solar stations in the desert instead of giving it back to you.
excon
Ah, I see what type of person you are... carry on ranting.Quote:
Originally Posted by ETWolverine
No, it wasn't a tax cut. A tax cut is when the marginal rates are lowered. My rates aren't lower than they were. This was a tax "credit", which is not a tax cut. It is a form of wealth redistribution, not an economic stimulus. All it does is take taxes from some people and give it to other people... including people who didn't pay taxes in the first place. It can't be a tax cut if it is being givien to people who didn't pay taxes.Quote:
Originally Posted by excon
As for what they should have done, they should have lowered the marginal tax rates. They should have taken less taxes in the first place. THAT stimulates the economy. All they are doing here is taking money from moderately wealthy or middle-income people and giving it to poor people. There's not tax cut taking place.
Elliot
What... am I hitting a little close to home?Quote:
Originally Posted by NeedKarma
It's odd how those that call people names always say that.Quote:
Originally Posted by ETWolverine
Yeah Elliot you ungrateful SOB.
ET my wife and I combined almost make $90,000 a year if only poor people are getting this money how did we?
It works out well both my wife and I got bumped up 30 bucks a check that is a 140 bucks a month I didn't have last month I'll take it.
I keep seeing everyone say oh you will just have to pay for it on your taxes well no one is complaining that they had to claim the George W Bush $600 apology check everyone got last year why is that?
Quote:
Originally Posted by NeedKarma
Uh huh...
"Hey, kettle, this is pot. You're black."Quote:
Originally Posted by NeedKarma
My country is printing money so count yourself lucky!
Don't you remember? Obama set $250,000 as the line between rich and poor.Quote:
Originally Posted by spitvenom
And by the way, I make almost $70K per year myself. After adding my wife's salary, we are well into six-figure range. I don't need that extra $13 per week any more than you do.
That's why this is such a silly, ridiculous, useless piece of legislation.
And you'll pay taxes on it too. Because it was a "tax credit" and not a tax cut, it is taxable income. Congratulations.Quote:
It works out well both my wife and I got bumped up 30 bucks a check that is a 140 bucks a month i didn't have last month I'll take it.
Uh... yes I did. I thought it was a huge mistake. Bush was right when he lowered taxes in 2001 and 2003. He was wrong with his 2008 stimu-less package. And Obama is wrong with his 2009 spend-ulus bill.Quote:
I keep seeing everyone say oh you will just have to pay for it on your taxes well no one is complaining that they had to claim the George W Bush $600 apology check everyone got last year why is that?
And by the way, exactly how much good is that $140 per month going to be when your sales, income, gas, capital gains, and all other taxes you pay go up. How about when the cost of food skyrockets because of massive inflation caused by the government printing money to pay off this massive debt? And how about the losses you are going to take when your home values continue to drop. The $140 per month, while nice to have, isn't going to do squat for your wealth. None of the economic issues that are driving the recession are being addressed by the stimulus package. Unless we get an economic plan that actually addresses the issues that underlay the economic downturn, the downturn will continue, and that $140 per month won't be enough to keep food on the table if things continue to get worse.
Personally, the best thing we could do is lower taxes. Take that $780 billion that is in the stimulus package and lower marginal tax rates at ALL levels. $780 billion dumped into the economy in the form of disposable income to people and businesses is enough to start us on an economic recovery. And you don't have to wait 2 or 3 years for it to happen.
Next, we need to let failing companies fail. Whether it is GM or Bank of America, if they can't reorganize and get out of trouble, then let them fail. When they fail, other entrepreneurs will step in and provide the goods and services that people want, and at a lower cost. So either the companies will recover and become stronger, or other, stronger companies will step into their shoes. Either way, the economy goes on. People who lose their jobs in the short term get their jobs back when demand for goods and services is met by the providers of those goods and services. And the economy gets stronger in the process.
THESE are the actions that are designed to strengthen and grow the economy and get it out of recession. $140 per month ain't going to do squat to fix the economy. Neither will spending money two years from now on make-work jobs programs.
Elliot
I rent so I don't lose any home value, I am a vegetarian and I grow most of my own food (Hydroponics) . I just put a deposit down on the new Honda insight so I will save a ton on gas there. I shop online for almost everything and since most of the businesses I purchase from aren't in my state I don't pay a sales tax.
The 140 a month just goes towards paying more on my wife's car loan we will be done paying it sooner so it is a BIG help pay less interest on the loan save money in the long run.
The capital gains is the only thing I am worried about but not too much.
But I do agree let the companies fail bigger and better and smarter companies will come along.
Hydroponics ? Cool! Would love to have the space to give it a try . But I do my annual victory garden so I'll steal some space in the house for seed starting soon
We had an extra room in our spot that we couldn't think of what to do with and there is a Hydro store about 15 minutes away we gave it a shot and it works well expensive but well.
Here is their web site they opened a new store in Secaucus NJ Garden Indoors of Philadelphia Shopping
Tom I wouldn't have guess you as a gardener but I never considered myself a hippie until I just reread what I wrote to Elliot :)
First of all the left can't decide what makes someone rich anyway, Michelle Obama was praised for passing up the opportunity to earn big bucks for her sacrifice in public service making $300 grand a year as a diversity coordinator at a Chicago hospital that dumped poor patients off on other clinics.
Bush was a rich white guy back when he was making $180 grand a year (and giving about 15 percent of his income to charity), while Biden was "a good example of a working-class kid" making a quarter million.
What we can be sure of is this whopping "tax cut" is just part of Obama's plan for "social justice." From page 5 of Obama's pork-laden omnibus bill titled "A New Era of Responsibility: Renewing America's Promise" :
While middle-class families have been playing by the rules, living up to their responsibilities as neighbors and citizens, those at the commanding heights of our economy have not."
"Prudent investments in education, clean energy, health care and infrastructure were sacrificed for huge tax cuts for the wealthy and well-connected."
"There's nothing wrong with making money, but there is something wrong when we allow the playing field to be tilted so far in the favor of so few. . . . It's a legacy of irresponsibility, and it is our duty to change it."
That's right, it is Obama's moral imperative to punish people with money "no matter how many of them worked honestly and honorably to produce it," because "this presidency is going to be an act of retribution."
spit
love it . When I retire it will not be in the NY City area . I have honed my organic gardening skills for a long time . I just don't have enough space to do it right (about 20' x25' )... that's why I adoped the victory garden design . It's amazing how much you can fit into that space if it's properly planned.
Secaucus ? I normally don't go in that direction unless I'm going to a Giants game.
As far as the tax credit ;suprise!! I agree with Elliot. A tax cut you can plan with ; a tax credit.. while nice because I am always in favor of people getting to keep their money is less than an efficient way to stimulate the economy.
The wife received a nice little note with her last paycheck suggesting she review her withholding so she isn't stuck with having a tax bill at the end of the year. Even the IRS is concerned.
Isn't that nice? Even the IRS says we may need to "counteract" the "stimulus" which makes it all rather redundant... and more work for us just to stay ahead of the tax game.Quote:
The new withholding tables should not be a problem for singles with one job, or a married couple where one spouse works, Luscombe says. But the IRS is concerned about under-withholding for individuals with multiple jobs and married couples, both of whom work, he says. All those employers would be reducing tax withholdings, possibly leading to not enough taxes withheld.
"The IRS suggests you revise your W-4 form to increase your withholding to counteract the effect of the revised withholding," Luscombe says.
| All times are GMT -7. The time now is 08:57 AM. |