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Based upon my taxes from the past year and my projected earnings for this year. I only went there in preparations to find a "loophole" or some sort of fine print that can get me out of all of these taxes. And I'll admit it, I'm doing all of this because...Obama is going to win. 8O
I know that there are a million reasons why you vote Democrat Delock and in essence, you and I both know that I respect you for it.
But, I have to vote for what I think is right and what I'm most concerned about. And according to Obama's proposed tax plan...I just can't run my business the same as I am right now. And I don't want to make cuts and throw away educational benefits.
I'm picking the lesser of two evils. You know I don't agree with McCain on everything, especially on gay rights and whatnot...but I'm trying to look at the big picture. I have to vote for what will keep my business running and my employee's with jobs.
And I don't care if "maybe Obama's tax plan will do this and maybe it will do that".
I can't put people's job at stake for a "maybe". At least I can say I tried.
Help support (C)atfish (A)nd (K)ool Pleco's; Houston's premier fish club Alexa Rae Co-President of CAK MAY THE GOD OF YOUR CHOICE BLESS YOU.
Obama taxes business. Big or small it doesn't matter. Businesses raise prices to compensate, whether for investors, stockholders, or individual owners. Business, large or small, still makes money. People pay the cost of higher goods and services as a result. Everyday ordinary people...regardless of income. For the poor this increase in prices is a disproportionatley larger part of their income than it is for those more well to do. The poor suffer Obama's tax plan the most. Obama promises to give them a refund. Of course, it would have been better not to take the money out of their pockets via higher prices to begin with. Net result...the poor blame big business for the price increases, which is exactly what Obama and the Democrats want, and they see him and the Democrats as "on their side" for the tax refund. It's a pretty good scam.
A government big enough to give you everything you want is big enough to take away everything you have. --Thomas Jefferson
Guns are responsible for killing people much the way pencils are responsible for misspelling words.
All I can say is its $250,000 a family so all you need is two people making more than $125K that isnt that much I dont quite make that much but I know for sure that when I am said and done in this world I can promise you I will be taxed out of my mind with Obama because I will be making well over 200K in my line of work and want to retire and start investing at an early age. Making substantially more so for my years of hard work moving up at my company and college degree I should start giving fist full of the government so that can start giving checks to people that already dont pay taxes BS. The government is not good at handling money and me just giving them more money for no reason is ridiculous.
And everyone wants to talk about well lets just tax the corporations Exxon makes a bunch. Well think about it if Exxon has to pay more taxes what do you think they will do about it? They will charge more for the oil we consume to compensate for the additional expense. And if you dont think that is true you are out of your mind. Think about if it were you you sell a fish for $100 and currently pay $35 in taxes for it so you take home $65. Well Obama comes in and says well you make to much money I want to raise the rate to $40/per $100 are you going to just say ok well now I will only take home $60. No not if you are a successful business person you will say ok well now I will charge $108.33 for the same fish and give the government there 40% which is $43.33 so that you can again take home your $65 and pay bills. If you think this wont happen you are out of your mind and who ends up paying the additional tax increase oh thats you and me the people who Obama are supposedly trying to give tax cuts to. And the people that buy the most fish are the people who make more money (generally) and now if there taxes are incresed they have less to spend on discretionary items and since that discretionary item now costs more then they can buy less. And since they cant buy as much then the business will have to start cutting costs, ie. jobs. Then those people can no longer afford to buy things and the whole cycle begins to break down until and the unemployment rates skyrocket
It sucks. Obamas going to win. So call your employer Monday and have them go ahead and take out another 25% from your pay check for taxes. We have to redistribute the wealth. OK are you dems happy? I can't wait for my boss to drop my insurance because he can't afford it. OK are you dems happy? I'm in sales. If you raise my bosses taxes, guess what? He's taking it from me. OK are you dems happy? I could go on but it does no good. so I will go vote next week and pray my country will not come to a end if Obama wins!
If/When Obama wins, I can't imagine having to tell my employees...
"Well, a few announcements here people. One, I'm going to cut your healthcare...I can't afford it anymore. Two, I've also had to cut the educational fund so your kids need to pack it up. Three, we're not going to be building as many houses because I can't afford the materials and people can't afford the homes we're building. Four, some of you will be laid off.
Sooo....grab a kolache and wait for it". 8O
Help support (C)atfish (A)nd (K)ool Pleco's; Houston's premier fish club Alexa Rae Co-President of CAK MAY THE GOD OF YOUR CHOICE BLESS YOU.
On a fish related note.. I can see Obama's tax plan seriously hurting some of the better LFS's. I can imagine the discounts and even the "put it on my tab" friendliness going away due to tightened purse strings.
Hmmm...maybe some of you all need to read the plan. Now what about McCain plan? Can anyone here tell me how much health care cost per employee? I can wait I have time.
"As the presidential campaign heads down the home stretch, you will hear more and more about taxes. John McCain says Barack Obama will raise your taxes. Barack Obama says that's not true, unless you make more than $250,000. John McCain answers that your taxes will rise, anyhow, if your employer has to pay more.
Where can the truth be found? There is an objective, nonpartisan analysis available from the Tax Policy Center. The Tax Policy Center is a joint project of the Urban Institute and the Brookings Institution. No doubt, each analyst from the Tax Policy Center will have his or her preference for Obama or McCain. But when these Tax Policy Center analysts sit down at their computers and start to crunch numbers, as part of their jobs, they take pride in being mathematicians rather than partisans.
The findings of the Tax Policy Center have not been challenged by either candidate. Here are highlights of their analysis of the respective John McCain and Barack Obama tax plans, based on income:
--- If your annual income is lower than $18,981 per year, McCain will give you back an extra $19. Obama will give back $567.
--- If your annual income is between $18,982 and $37,595, McCain will give you back an extra $113. Obama will give back $892.
--- If your annual income is between $37,596 and $66,354, McCain will give you back an extra $319. Obama will give back $1,042.
At this point, we wish to pause. The three categories represented above --- all families earning less than $66,354 per year --- comprise 60 percent of the population of the United States. These families are in the majority. Forget about depictions of $200,000 annual income (or the purported $280,000 for "Joe the Plumber") being middle income. A family that brings home a mere $60,000 per year is slightly above the middle. Okay, now we will continue.
--- If your income is between $66,355 and $111,645 per year, your tax break from John McCain would amount to $1,009. From Barack Obama, $1,290.
--- If your income ranges from $111,646 to $160,972, John McCain would give you $2,614 in tax relief. Obama would offer $2,204. The pendulum for six-figure income starts to swing toward McCain, if you're thinking from a purely selfish standpoint.
--- If you income is between $160,973 and $226,981, McCain would lower your taxes by $4,380. Obama would keep his pledge to extend tax breaks to this group, but his break would be a lower $2,789.
--- Now you're getting rich, with your income between $226,982 and $603,402. McCain would give you a break of $7,871. Obama? Twelve dollars off of your taxes. That's $12.
--- Income between $603,403 and $2.87 million? Now you're in the top 2 percent of all Americans. John McCain really appreciates you, and he would give you a tax cut of $45,361. But Barack Obama, in the name of redistributing wealth, would actually RAISE your taxes by $115,974.
--- Income above $2.87 million? Now you're in the top one-tenth of a percent of the top 1 percent. John McCain would cut your taxes by $269,364. Barack "Robin Hood" Obama would RAISE your taxes by $701,885.
As readers go to the polls, hopefully these numbers provide some enlightenment.
The bottom line of the Tax Policy Center's analysis is that Barack Obama's tax plan is more in favor of poor people and the lower middle class. John McCain's tax plan is more in favor of the upper echelon.
Still, neither Barack Obama nor John McCain would make progress in eroding the $10 trillion federal debt that would be inherited by the children and grandchildren of future generations. In fact, debt to future generations would increase under either Obama or McCain.
SOURCES
Tax Policy Center
Brookings Institution
Urban Institute
I fall in between $66,355 and $111,645 per year. As a voter which one is better for me?
Actually, what you are looking at is a decrease in taxes for the wealthy (under the McCain plan). Considering they already pay the most taxes of all tax payers, I don't see how its fair to tax them even more.
Whether you make ten thousand dollars or ten million dollars annually - your taxes should be the same. Anything else is socialism.
Derrick, your illustration just shows that Obama wants to punish the successful in this country by taxing them more, and rewarding the poor by taxing them less.
If this is done long enough, what is to stop those who are productive from not working, so that they, instead of paying for the life style of the poor, can be the poor themselves and get that lifestyle for free?
Look at any country where this policy has been forced upon a people, and you will not find industrialization, success, happiness, or wealth. Obama's tax plan is the fourth step to true socialism. The sub-prime market was the third, welfare was the second, and it all started with social security.
Whatever happened to personal responsibility for the able and willing?
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