In The News Today...

Quote: terapined

I will pay less in total taxes this year then last Year Bush was in office.
This is a factual statement.

You do not know the difference between federal and local taxes.
This is also a factual statement.

Quote: AZDuffman

...for those who understand the difference between local property tax and federal income tax and that the election of a POTUS has no direct effect on the former.

+1

Zing! lol...

It's a silly argument, Terapined.

The real argument is that federal income taxes have remained unchanged for 99% of Americans. And for Americans with base salary of $250,000 that represents a take home pay of 14,632 / month before state taxes is very rich. That allows you a monthly mortgage payment of about $4,500/month which gets you into a $800,000 home, which is fantastic everywhere except perhaps for NYC and SF. And taxes only went up by 4.6% for those making over 400,000 from 35 to 39.6%. It is already quite likely that those in that salary range have huge credits for mortgages and other tax savings vehicles. Loopholes for hedge funds and allowing income to be reclassed from ordinary to investment income were also closed, and the capital gains tax is raised significantly for those making again, over $400,000 (or couple over $450,000). This represents less than 0.5% off all taxpayers. Still a significant tax raise, but really only affects a very small percentage of Americans who are now back to paying the same tax rates under Clinton.

And Obama cut the FICA tax for employees for two years by two percent, which increased everyone's take home pay on the FICA portion of their payroll by $20/$100. That means if you made $50K, you had an extra take home pay of $1,000, enough for a big-screen TV or laptop. That means HE CUT TAXES FOR THOSE WHO ARE EMPLOYED (that cut is gone now).

So, for those who say Obama is tax happy, he raised taxes on those making over $400,000

Quote: boymimbo

The real argument is that federal income taxes have remained unchanged for 99% of Americans...

So, for those who say Obama is tax happy, he raised taxes on those making over $400,000

Um...no. That's not the "real argument". As usual, you completely missed the point. We're not talking about the average taxpayer here. The "real argument" specifically deals with Burger King and Obama's Treasury Secretary threatening to make corporate inversions illegal (which is the type of unnecessary rhetoric that made BK leave). Duh. *facepalm*

Quote: boymimbo

And Obama cut the FICA tax for employees for two years by two percent, which increased everyone's take home pay on the FICA portion of their payroll by $20/$100. That means if you made $50K, you had an extra take home pay of $1,000, enough for a big-screen TV or laptop. That means HE CUT TAXES FOR THOSE WHO ARE EMPLOYED (that cut is gone now).

So, for those who say Obama is tax happy, he raised taxes on those making over $400,000

So are you somehow saying people who make $400K per year are not employed? How is this possible? And what is so great about it being "the same rate as under Clinton?" Those were the highest tax rates in modern times.

Obama also raised taxes via Obamacare, something liberals like to forget.

He is tax happy.

Mother of American Hostage Pleads With ISIS ‘Caliph’ for Mercy

I know this woman is going through an unbelievable amount of stress, so I don't want to criticize her, but does anyone in America really believe that ISIS is going to listen to anyone's pleas for mercy???

I didn't realize ObamaCare was a tax. I thought it was an insurance. And yeah, 1986 is not in modern times. He cut taxes for those who are employed (aka, everyone making under 400K / year) and raised it on those making over 400K, and I am betting that the employment rate of those making over 400K is less than the employment rate of those making under 400K/year.

Quote: boymimbo

I didn't realize ObamaCare was a tax. I thought it was an insurance. And yeah, 1986 is not in modern times. He cut taxes for those who are employed (aka, everyone making under 400K / year) and raised it on those making over 400K, and I am betting that the employment rate of those making over 400K is less than the employment rate of those making under 400K/year.

What does any of this have to do with Burger King (which is what you had initially responded to)?

Quote: boymimbo

I didn't realize ObamaCare was a tax. I thought it was an insurance. And yeah, 1986 is not in modern times. He cut taxes for those who are employed (aka, everyone making under 400K / year) and raised it on those making over 400K, and I am betting that the employment rate of those making over 400K is less than the employment rate of those making under 400K/year.

First, Obamacare contains many taxes and was admitted as a tax before SCOTUS.

Second, how are they making 400K a year if they are not employed. Some may be self-employed, but that does not change the looting being done to them. Please do tell how they are making such an income if they are not employed. I don't get it.

BTW: 1986 is modern times, not even 30 years ago and similar to today unlike say 1958.

1986 - when the tax rate was 50%.

Quote: boymimbo

1986 - when the tax rate was 50%.

In 1986 tax rates were lowered to a max of 28%. Use the context and understand that is what was meant, por favor.