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Are you ready for your new tax bill????

Discussion in 'Politics, Elections & Legislation' started by bigdogtx, Jul 22, 2010.

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  1. bigdogtx

    bigdogtx Well-Known Member

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    Great economic thinking,,,,take more from the workers for the government....
     
  2. 635 G

    635 G Well-Known Member

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    A word to the wise, if you have an estate worth more than $1 million, the amount in excess of $1million will be taxed at 55% if Obama has his way. Spend it before Obama spends it for you.

    Phil Berkowitz
     
  3. Chichay

    Chichay TS Supporters TS Supporters

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    Phil,

    Unfortunately, most choose to overlook the injustice unless it affects them. Same goes for the income tax where half do not pay at all.

    Chichay
     
  4. Bisi

    Bisi TS Member

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    Makes you wonder about Yankee owner George S. death? He timed that right for his kids.
     
  5. al3526

    al3526 TS Member

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    it is unjust that one could spend a lifetime creating wealth to leave for ones heirs only to have the govt take more than half. Since when has the govt become my partner?? if thats the case im not feeling so well maybe Obama or one of his stooges should cover for me at work. this country needs to wake up and stop the plethora of social support programs that kill initiative and punish the motivated. al
     
  6. Robb

    Robb Member

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    Well said.
     
  7. al3526

    al3526 TS Member

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    the other topic i see debated on tv presently is that of raising the social security retirement age..well i guess the 'do nothings" in washigton feel as though they would have no problems working till age seventy. but what about those who work jobs that are physically challenging?? we already work harder with less time off than most european countries. seriously, its time for those jokers in washington to adopt our sense of reality. i see no reason why they couldnt work well into their 80s seeing how little they do and how much less of the year they work. al
     
  8. shannon391

    shannon391 Active Member

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    They want to raise the retirement age to 70, the life of the average black male is 68.
     
  9. Bisi

    Bisi TS Member

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    Shannon, I've always thought since men die early than women, we should get to retire before women.

    Bet that will go over like a lead balloon.
     
  10. smsnyder

    smsnyder Well-Known Member

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    Any changes on Roth or Ira retirement plans?
     
  11. smsnyder

    smsnyder Well-Known Member

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    Any changes on Roth or Ira retirement plans?Is it time to cash in Ira's?
     
  12. bigdogtx

    bigdogtx Well-Known Member

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    Check in your situation. We have run scenarios and in most instances for our clients, it was not in their interest to convert. (However, check with your tax advisor in case hussein comes up with another scheme to take money)
     
  13. GunDr

    GunDr Well-Known Member

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    What I find odd are these three head-liners of FARM-AID...Willie Nelson, John Mellencamp,and Neil Young, who talk big about saving family farms, can on the other hand, support Obama and his death taxes.
     
  14. dmarbell

    dmarbell Active Member

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    For those opposed to the estate tax, I have a question. Inherited property is stepped-up for tax basis purposes, meaning heirs tax basis for gain or loss is the value at death. Would you be ok with no estate tax and carry-over basis? That is, pay capital gains taxes on sale of inherited assets?

    Danny
     
  15. al3526

    al3526 TS Member

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    how many times do we need to pay taxes on the same earnings??? the money we pay our mortgage with was taxed as income. All improvements and furnishings were taxed again via a sales tax, the electric to cool it was taxed, the oil to heat it was taxed. what i prefer is a low estate tax. seriously, if john kerry is attempting to cheat the govt out of tax dollars then maybe we are paying too much. why is 30% not enough as an estate tax??? al
     
  16. recurvyarcher

    recurvyarcher Well-Known Member

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    Why on earth would Obama want to restrict educational benefits that an employer can provide? Higher education makes more money from students, the workforce becomes better-educated, and opportunities are created for students who would otherwise not be able to afford higher education.

    Does he have something against helping students find a way to get through college? I think the only options he wants to give the everyday kid is to join the military. How does THAT sit well with liberals???
     
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