FYI Tax cuts

DrDan · Post by **DrDan** » Sun Sep 07, 2008 12:42 pm

The Tax Policy Center, a think tank run jointly by the Brookings Institution and the Urban Institute, concluded that Obama's tax plan would benefit middle-income taxpayers more than McCain's. However, Obama would raise payroll taxes on taxpayers with incomes above $250,000, and he would raise corporate taxes. Small businesses that make more than $250,000 a year also would see taxes rise.

McCain's plan cuts taxes across all income levels. It would cut taxes for those in the top 1 percent by more than $125,000, raising their after-tax income an average 9.5 percent, the center concluded.

DrDan

Stalker · Post by **Stalker** » Sun Sep 07, 2008 4:46 pm

the corporations are out to make money and the minute that any government reduces the corporate tax breaks or increases corporate taxes,... all that the corporation does is recover that lost money by reducing their workforce or by moving their business to a less expensive location of doing business or somewhere with more corporate incentives.

This isn't the 50's anymore, this is the "global economy".... businesses are more fluid and can be moved offshore or oversea's very quickly.....

the message of reducing tax breaks on big business play's really well during an election and it's a shell game that politicians use every time to get votes but it's the average working stiff that get's hurt more than helped in the long run.

sumner4991 · Post by **sumner4991** » Sun Sep 07, 2008 5:31 pm

The other thing the big business can do and DOES do is simply pass that expense on to the consumer. Surprise.

DrDan · Post by **DrDan** » Sun Sep 07, 2008 8:04 pm

Well lets see... I believe your mentor Sara Palin gave $1500 to all Alaskans and taxed the living chit out of corporate oil companies. Hmmmm Is that why our gas prices are so high?

DrDan

sumner4991 · Post by **sumner4991** » Sun Sep 07, 2008 9:59 pm

DrDan . . .now you are looking foolish. If you got taxed, then you would have to charge more for your services . . .ooops, that might even do more damage to your business. Fortunately, you are in the low bracket of less than $250,000 . . .you lucky dog. All those companies above $250,000 in revenues will be passing that tax charge on to you and me. Yeah.

Now we know why you are pushing the ailing Obama and the cheating Biden.

Have you read this letter?

"Family,

I feel an obligation to honesty and truth to share with you some facts. My Father and Mother instilled in me the values and morals of treating people fairly and always being honest. If you purchase something, you pay for it. If you borrow something, you give it back.

I have been "stiffed" three times in my 30 year professional career by someone who I rendered services to, gave a finished product to, but who refused to pay for those services even though they acknowledged the services and products were correct, were what they asked for, and were never challenged for not being correct. I am lucky in having only three, but those three hurt badly.

Joe Biden was one of those people. I worked on his 1988 Presidential campaign financial disclosure engagement. I busted it for him and got everything right. He stiffed me for over $15,000 worth of work. He refused to pay once he dropped out of the race. I did similar Capitol Hill campaign financial disclosure work for Bob Dole, Pat Buchanan, and a Democratic candidate for Ambassador to New Zealand. All of those folks paid even though they lost the election or did not get the appointment. That type of work is very demanding and very tedious because your efforts are scrutinized by Congress. Biden did not care.

I am on the Board of Directors of a company that owns a majority position in a private jet management company in Northern Virginia. They manage jets for businesses and rich folks. They also charter planes to the public. This past winter John Thompson chartered over $250,000 worth of air time. He paid every penny.

Joe Biden, in his latest unsuccessful run for President, chartered over $150,000 worth of air time. He PAID ZERO. He continues to refuse to pay stating his race is over and he is out of money. He never once complained about his flights. Joe Biden is a rich man. He could pay.

Joe Biden is a liar and a cheat. I know it first hand. Character is what life is all about. Joe Biden is a man of bad character and sets a bad example for America.

I feel compelled to share this dark side of a man who asks for your vote and trust.

Best Regards,

Bruce D. Riddle, CPA, CFP
BDR Associates, LLC
2401 Research Boulevard, Suite 101
Rockville, MD 20850

Work - (240) 631-1981
Cell - (301) 580-7800

Fax - (240) 631-2778
Website - www.bdrtax.com'

Come up with some Obama B.S. for this . . .I have checked urban ledgends, the email was real . . .Riddle sent it to his family members and one of them sent it out to "everyone".

DrDan · Post by **DrDan** » Sun Sep 07, 2008 11:21 pm

I'm sure if Biden owes the money it will be paid. Not knowing the circumstances we don't even know if the fees are correct. Perhaps they are making those decisions.
How about duties on imports from China? As I understand it what is proposed is making globalization unattractive putting jobs back in our hands.
Grizz had it right when he said, "hold on to your hats"! This country is in horrible shape on several fronts - it may not be fixable!

mikej · Post by **mikej** » Sun Sep 07, 2008 11:28 pm

this is better then tv debates

DrDan · Post by **DrDan** » Mon Sep 08, 2008 12:01 am

Mike

ROFLMAO

DrD

dick195252 · Post by **dick195252** » Mon Sep 08, 2008 3:50 am

I have tryed to ignore this post to stay away from the politics but sumner4991 what about this Fannie mae and Freddy Mac Situation

We gave all these tax cuts and give backs to big CORPORATIONS so these two PRIVATE COMPANYS can give all the CEO's and Higher Upity ups there BIG Bonus money and now us TAX PAYERS get to BAIL them out AGAIN to the TUNE of BILLIONS of Dollars

And they just walk away with all there BIG Salarys and Bonuses and LAUGH at us

. How many Banks have we taken over at THE TAX PAYERS Expence so far and the CEO'S just walk away and get To keep all that MONEY

. WHITE COLLAR CRIME and they just keep getting away with it

JOKES on us DUMB Working class stiffs

mikej · Post by **mikej** » Mon Sep 08, 2008 8:16 am

DrDan wrote:Mike

ROFLMAO

DrD

????? i have no idea what you just said

sumner4991 · Post by **sumner4991** » Mon Sep 08, 2008 8:39 am

dick195252 . . .I agree 1000%. Like I posted earlier, a few good crooks in select positions can cost us dearly. The entire mortgage issues started during the Clinton administration. We started doing 125% ltv mortgages back then. I didn't think the loans had a chance of repayment. But, we thought the lenders knew what they were doing. Well, the economy was strong then and that covered these loans for a while. Clinton was pushing "homes for everyone" and the qualifications kept getting easier. Sub-prime lending was so easy to qualify for, that we weren't checking income or home value on some programs. When the economy started slowing down, these ugly loans started going bad. Everybody is blaming it on Bush . . .he was just in the right place at the wrong time. Anyway . . .it's not only the banks, every corporation is guilty of too much pay at the upper levels. Did you like my salary limit idea?

Another thing a President that wants to better America can do is GET RID of the IRS and generate taxes solely via sales taxes. That would save almost every American a lot of money. First of all, everybody that buys something would be taxed . . .no more cheaters. I said almost everyone because too many people do not pay their fair share of taxes. Too many pay no tax at all. This would take a great expense off the hands of every corporation. It would take some teaking such as taxing heavier for luxury items and less for basic food like bread. However, it would be a ton easier to enforce than the tax system we have now.

Why isn't that on the adgenda???

DrDan . . .he did pay the bill after the letter hit the internet and after he was on Obama's ticket. However, a honest man would have paid the bill upon receipt. How would you like to have to collect in that manner, knowing the customer was rich?

sumner4991 · Post by **sumner4991** » Mon Sep 08, 2008 9:11 am

Oh yeah . . .I forgot . . .DrDan, did you see where Obama is now re-thinking his tax plan. He may not raise taxes on Corporations, it might be a bad time to do so . . .someone must have educated him. At least he can be taught.

Here's some news for you DrDan . . . http://news.yahoo.com/s/nm/20080908/pl_ ... idkHWs0NUE

Surge on!

Stalker · Post by **Stalker** » Mon Sep 08, 2008 10:18 am

DrDan wrote:Well lets see... I believe your mentor Sara Palin gave $1500 to all Alaskans and taxed the living chit out of corporate oil companies. Hmmmm Is that why our gas prices are so high?

DrDan

probably....

and just like usual they move to where the pickins' are better....

"What the tax has done is take away all the upside," said Doug Suttles, president of BP Alaska. The U.K.-based oil company paid more than $500 million in taxes to Alaska last quarter — far more than it earned in profits from Alaskan oil, according to Suttles.

Investment dollars are flowing instead to places that have a better return, like the massive deep-water projects offshore in the U.S. Gulf of Mexico, where ConocoPhillips said the government take equals less than 50 percent of the barrel.

In July, BP announced it would begin developing the Liberty oil field, a $1.5 billion project expected to yield 100 million barrels of oil, located on federal lands in Alaska. If the project had been located in state lands on the North Slope, "I don't think we'd have been able to make that investment,"

in the case of oil there is a bit of leverage because they need to go where the product is.... at some point the companies will decide that there isn't enough profit in getting the barrel out of the ground.... then the real problems start.

DrDan · Post by **DrDan** » Mon Sep 08, 2008 1:15 pm

What's cheaper and cleaner to move around the country Oil pipelines or Electric cables? I belive we should develop nuclear, tide, hydro and wind powered generators and start phasing out of oil. Much cleaner and think of the jobs it would create building all that infrastructure! I can't wait for the lithium ion battery research to make a battery that will power a car for reasonable distances. One of the problems I see with more oil drilling is that the oil companies are into it for profit... If China pays more per barrel they just load it up on a tanker and ship it to China. Can't do that with electricity or the infrastructure to generate it. I belive Obama is on the right road as far as energy policy is concerned.

Sumner

Those polls don't reflect people with cell phones. They only use landlines. Wait until the kids vote! I may be wrong but I believe the youth movement will elect the next president.

sumner4991 · Post by **sumner4991** » Mon Sep 08, 2008 1:45 pm

DrDan . . .you just described McCain's energy plan. I honestly don't see a difference in the energy plans. Both want to phase out oil. Looks like we are in a win, win on that one. However, McCain understands that it will take a little time and during that time, we need oil. Everything you just described will take at least 10 years just to get started good. What do we do until then? We use oil . . .better start drilling.

So, you are betting the election on a bunch of young cell phone users that probably don't watch much political TV or listen to talk radio. Well, you know the boys will vote for the Hotty and the girls, oh yeah, they will vote for the Woman. I'll bet the polls are still a good indicator, they normally are.

By the way . . .since the government has bailed out Fannie and Freddie, interest rates have dropped 1/2% on the retail mortgages. I have mortgage rates at 5.5%. People that have been putting off buying that house now have a good incentive to move forward. Nothing gets the economy going faster than housing, well, maybe government handouts are faster. You will see an instant rise on housing starts. Numbers will come out just in time for the election. Surprise, surprise.