Obama's muddled economic plan

[DaTruth]

Originally Posted by Riot

Did you read more than the headline?

I paused after reading this sentence:"Later, Obama pledged to support “every risk-taker and entrepreneur who aspires to become the next Steve Jobs,” perhaps making him the only person in America who didn’t read the New York Times story over the weekend about how Apple’s products are all built in Asia."

The more relevant question is, Riot, do you understand the words that you read? On second thought, the truly relevant question is, Mr. President, do you understand the words that you read when giving your speeches?

[Riot]

Originally Posted by DaTruth

I paused after reading this sentence:"Later, Obama pledged to support “every risk-taker and entrepreneur who aspires to become the next Steve Jobs,” perhaps making him the only person in America who didn’t read the New York Times story over the weekend about how Apple’s products are all built in Asia."

The more relevant question is, Riot, do you understand the words that you read? On second thought, the truly relevant question is, Mr. President, do you understand the words that you read when giving your speeches?

Yes. Overall a complimentary article on SOTU, quibbling on one small action point, but making no discernable argument against. Nice of you to post it.

[Danzig]

Originally Posted by DaTruth

I paused after reading this sentence:"Later, Obama pledged to support “every risk-taker and entrepreneur who aspires to become the next Steve Jobs,” perhaps making him the only person in America who didn’t read the New York Times story over the weekend about how Apple’s products are all built in Asia."

The more relevant question is, Riot, do you understand the words that you read? On second thought, the truly relevant question is, Mr. President, do you understand the words that you read when giving your speeches?

thought of this thread when i read this earlier:

http://www.msnbc.msn.com/id/46143670...s-us_business/

Apple accused of ignoring labor abuses that can kill

'We've known about labor abuses in some factories for four years, and they're still going on,' former Apple executive says, 'Why? Because the system works for us'

By CHARLES DUHIGG and DAVID BARBOZA

updated 1/26/2012 4:05:41 AM ET 2012-01-26T09:05:41

[dellinger63]

Does the President understand the relationship between private investment income and business? The fact you don’t receive income without ‘investing’ in successful businesses? If so, does he understand the relationship between businesses and jobs? If the answer is still yes why in the world is he trying to reduce jobs and businesses via raising the capital gains tax?

I do believe he understands all the relationships presented above and furthermore he is well aware of taxes reducing consumption and production and in the case of capital gains, investment as demonstrated by his energy/emission taxes campaigned for as Pres and cigarette/liquor taxes passed while serving as a IL State Senator.

If the President follows this talk with the walk of actually raising (rumors of doubling) the capital gains tax surely his actions will have spoken louder and clearer than his word.

At that point the President will have exposed his ongoing socialistic class war with the intended seizure and redistribution of wealth will not be disrupted even if it means jobs and the economy. Taxing success and rewarding failure, your new Government will lead the way, provide for you, direct you and care for you. And if you don’t like it you can go to your room.

Expect capital gains taxes to stay relatively the same yet be a huge campaign propaganda tool for the next 2-4 elections until most Americans are so dumb and broke that the majority want to eat the children of the rich.

It's going to happen. Wait for it.

[Danzig]

Originally Posted by Coach Pants

Expect capital gains taxes to stay relatively the same yet be a huge campaign propaganda tool for the next 2-4 elections until most Americans are so dumb and broke that the majority want to eat the children of the rich.

It's going to happen. Wait for it.

changes already in the works with temp adjustments about to fall off the books:

Often overlooked in these discussions, however, is the fact that the days of the 15% tax rate are numbered. As of this posting, it has only 342 left.

On January 1, 2013, capital gains taxes are scheduled to go up sharply.

First, the 2001 and 2003 tax cuts are scheduled to expire. If that happens, the regular top rate on capital gains will rise to 20%. In addition, an obscure provision of the tax code, the limitation on itemized deductions, will return in full force. That provision, known as Pease, increases effective tax rates on high-income taxpayers by reducing the value of their itemized deductions. On net, it will add another 1.2 percentage points to the effective capital gains tax rate for high-income taxpayers.

And that’s not all. The health reform legislation enacted in 2010 imposed a new tax on the net investment income of high-income taxpayers, including capital gains. That adds another 3.8 percentage points to the tax rate.

Put it all together, and the top tax rate on capital gains is scheduled to increase from 15% today to 25% on January 1.

Originally Posted by Danzig

changes already in the works with temp adjustments about to fall off the books:

Often overlooked in these discussions, however, is the fact that the days of the 15% tax rate are numbered. As of this posting, it has only 342 left.

On January 1, 2013, capital gains taxes are scheduled to go up sharply.

First, the 2001 and 2003 tax cuts are scheduled to expire. If that happens, the regular top rate on capital gains will rise to 20%. In addition, an obscure provision of the tax code, the limitation on itemized deductions, will return in full force. That provision, known as Pease, increases effective tax rates on high-income taxpayers by reducing the value of their itemized deductions. On net, it will add another 1.2 percentage points to the effective capital gains tax rate for high-income taxpayers.

And that’s not all. The health reform legislation enacted in 2010 imposed a new tax on the net investment income of high-income taxpayers, including capital gains. That adds another 3.8 percentage points to the tax rate.

Put it all together, and the top tax rate on capital gains is scheduled to increase from 15% today to 25% on January 1.

The news just keeps getting better. Adding taxes, free trade agreements, surveillance, censorship...it's just a matter of time before the military is training local police in cities.

http://deathby1000papercuts.com/2012...exercise-list/

Well nevermind.

The vibe is just so good. I left out tons of other great news.

On that note...

http://www.youtube.com/watch?v=8qrriKcwvlY&ob=av2e

[Danzig]

tax brackets remain in place thru this year, but if no adjustments are made, all brackets revert to what they were in 2000. which means a big increase. oh, and look what 2013 isn't-an election year.

then there's the alternative minimum tax:


More AMT victims, higher taxes
On today's tax returns, when an AMT payment is required, affected taxpayers could end up paying thousands more in taxes. Absent any law change, by 2015, some estimates predict that nearly 50 million filers could end up paying this parallel levy.

Why the increase? Because the tax is not indexed for inflation. Without that annual adjustment, your yearly raises of a few percentage points have been moving you closer or even into the income realm that the tax law deemed almost 40 years ago as prime AMT bait.

You could owe AMT if your taxable income in 2010 was more than:
•$72,450 for a married couple filing a joint return and surviving spouses.
•$47,450 for singles and heads of household.
•$36,225 for a married person filing separately.
Congress regularly bumps up the earnings amounts to keep more middle-income filers from paying more under the system. While that law change helps out millions of taxpayers who might otherwise pay the AMT, the uncertainty of when and how much relief will be provided is a constant area of frustration for taxpayers who have encountered or might face the alternative minimum tax.

[jms62]

Originally Posted by dellinger63

Does the President understand the relationship between private investment income and business? The fact you don’t receive income without ‘investing’ in successful businesses? If so, does he understand the relationship between businesses and jobs? If the answer is still yes why in the world is he trying to reduce jobs and businesses via raising the capital gains tax?

I do believe he understands all the relationships presented above and furthermore he is well aware of taxes reducing consumption and production and in the case of capital gains, investment as demonstrated by his energy/emission taxes campaigned for as Pres and cigarette/liquor taxes passed while serving as a IL State Senator.

If the President follows this talk with the walk of actually raising (rumors of doubling) the capital gains tax surely his actions will have spoken louder and clearer than his word.

At that point the President will have exposed his ongoing socialistic class war with the intended seizure and redistribution of wealth will not be disrupted even if it means jobs and the economy. Taxing success and rewarding failure, your new Government will lead the way, provide for you, direct you and care for you. And if you don’t like it you can go to your room.

We have had Low Cap gains taxes and jobs exiting the country by the millions.. Please explain why?

[Clip-Clop]

Originally Posted by jms62

We have had Low Cap gains taxes and jobs exiting the country by the millions.. Please explain why?

No penalties, no skilled, reasonably priced labor (thx unions).