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starfire_xes
I Am 'They'



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Obama's Four Trillion Dollar Budget!
#21217754 - 02/02/15 06:57 PM (8 years, 11 months ago) |
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Just what the US needs--spend 4 Trillion dollars and raise the shit out of taxes. That's going to go over like a cast iron balloon. I just wonder why we need to spend that much? Didn't we spend that much before because the economy was bad and it needed stimulus? What about now? From everything I heard, Obama is King Shit of Economics and the whole US is shitting in high cotton because of his economic acumen.
Fuck, I just hope there is a few slices of bacon and some ham-hocks in this one for me.
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: starfire_xes]
#21217890 - 02/02/15 07:26 PM (8 years, 11 months ago) |
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That's 4 trillion dollars of jobs, plus the boost in consumer spending that goes with it. The trick is to spend wisely on things that do more than just create jobs (excess military spending), but on things that also have a secondary positive impact on people's lives, such as spending on infrastructure, healthcare, education, etc.
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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The Ecstatic
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Re: Obama's Four Trillion Dollar Budget! [Re: starfire_xes]
#21217899 - 02/02/15 07:28 PM (8 years, 11 months ago) |
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Raise the shit out of taxes? Source?
Either way, this is leverage. He sends it to congress and gets to make the GOP decide what shouldn't be funded: tax credits for families, the Pentagon, public works initiatives, etc. Nobody with an iq in the double digits thinks this budget has a shot in hell of passing.
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Seuss
Error: divide byzero



Registered: 04/27/01
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> That's 4 trillion dollars of jobs,
Why not let private industry create jobs... they do a hell of a lot better than the government.
> The trick is to spend wisely
Obama's trick is to take from middle, pander to the poor, and give to his friends; oh, and blame the rich.
-------------------- Just another spore in the wind.
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: Seuss]
#21218586 - 02/02/15 09:37 PM (8 years, 11 months ago) |
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Quote:
Seuss said:
Quote:
Falcon91Wolvrn03 said: That's 4 trillion dollars of jobs,
Why not let private industry create jobs... they do a hell of a lot better than the government.
Sure, I'm not saying we should stop private industry from creating jobs. But we can create even more private sector jobs through infrastructure projects, healthcare, etc.
Quote:
Seuss said:
Quote:
Falcon91Wolvrn03 said: The trick is to spend wisely
Obama's trick is to take from middle, pander to the poor, and give to his friends; oh, and blame the rich.
How is Obama taking from the middle?
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
Edited by Falcon91Wolvrn03 (02/02/15 10:58 PM)
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luvdemshrooms
Two inch dick..but it spins!?


Registered: 11/29/01
Posts: 34,247
Loc: Lost In Space
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Re: Obama's Four Trillion Dollar Budget! [Re: The Ecstatic]
#21219542 - 02/03/15 04:49 AM (8 years, 11 months ago) |
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Quote:
The Ecstatic said: Raise the shit out of taxes? Source?
You should pay more attention.
Quote:
Following is a list of tax increases in President Obama’s fiscal 2016 budget proposal. The totals reflect the value of tax increases over 10 years, from fiscal 2016-2025.
Limit deductions for top earners to 28 percent rate, even if income is taxed at 39.6 percent: $603.2 billion Impose a 14 percent one-time tax on previously untaxed foreign income: $268.1 billion Impose a 19 percent minimum tax on foreign income: $206 billion Modify estate and gift tax provisions: $214.4 billion Change the taxation of capital income: $207.9 billion Other increases from reform of U.S. international tax system: $135.8 billion Impose a financial fee on large financial companies: $111.8 billion Increase tobacco taxes and index for inflation: $95.1 billion Repeal LIFO (Last In First Out) method of accounting for inventories: $76.1 billion Conform SECA (Self Employed Contributions Act) taxes for professional service businesses: $74.6 billion Other revenue changes and loophole closers: $47.9 billion Eliminate oil and natural gas preferences: $45.5 billion Implement the Buffett Rule by imposing a new “Fair Share Tax” (making millionaires pay at least 30 percent tax rate): $35.2 billion Reform the treatment of financial and insurance industry products: $34.4 billion Limit the total accrual of tax-favored retirement benefits: $26.0 billion Other loophole closers: $24.3 billion Reinstate Superfund taxes: $21.2 billion Tax carried interests as ordinary income: $17.7 billion Make unemployment insurance surtax permanent: $15.7 billion Eliminate coal preferences: $4.3 billion Reauthorize special assessment from domestic nuclear utilities: $2.3 billion Increase and modify Oil Spill Liability Trust Fund financing: $1.6 billion Repeal tax-exempt bond financing of professional sports facilities: $542.0 million
http://universalfreepress.com/fear-not-obama-take-care-whole-list-new-taxes-proposed-2016-budget/
-------------------- You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity. What one person receives without working for another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for that my dear friend is the beginning of the end of any nation. You cannot multiply wealth by dividing it. ~ Adrian Rogers
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starfire_xes
I Am 'They'



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Re: Obama's Four Trillion Dollar Budget! [Re: luvdemshrooms]
#21221210 - 02/03/15 01:44 PM (8 years, 11 months ago) |
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One of Obama's proposals was to eliminate the deduction for 529's. A 529 plan is a saving account that is used mostly by middle class families to save for their kids college. That way they can afford to save over the years to put their kids through college.
After word of that got out, twitter was lit up with outraged people, and a day or two later Obama announced that they had 'reconsidered' the tax on 529 plans. 
Obama's tax plan is simple: it is to find back door ways to tax the middle class because the middle class really is where most of the money is.
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: starfire_xes]
#21221232 - 02/03/15 01:51 PM (8 years, 11 months ago) |
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Quote:
starfire_xes said: Obama's tax plan is simple: it is to find back door ways to tax the middle class because the middle class really is where most of the money is.
I ask again, how is he taxing the middle class???
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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starfire_xes
I Am 'They'



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any tax ona corporation that sells to the middle class is a tax on the middle class. I just noted the 529 program. Medical taxes. thats just off the top of my head. he wants to tax middle, give breaks to his cronies, and the rest to the poor. No thanks. the sooner this dumb fucking turd is out of office the better.
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Falcon91Wolvrn03
Stranger



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Re: Obama's Four Trillion Dollar Budget! [Re: starfire_xes]
#21221413 - 02/03/15 02:36 PM (8 years, 11 months ago) |
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Quote:
starfire_xes said: any tax ona corporation that sells to the middle class is a tax on the middle class.
Which of the taxes you listed do you think would impact the middle class most? Pick one and let's analyze it.
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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Mr. Bojangles
Breathe In



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Re: Obama's Four Trillion Dollar Budget! [Re: starfire_xes] 1
#21221429 - 02/03/15 02:38 PM (8 years, 11 months ago) |
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I like the idea of taxing the offshore holdings and capital gains. I know some expatriates and if they, as individuals (and not rich), need to pay taxes back to the US on their earnings...corporations should too. I also like making repatriation of funds non-voluntary. Fuck off if you don't want to help build our country. There's already too much quasi accounting in these 10ks and quarterly reports that I have to sift through. If I can see some goddamned audited earnings without having to worry about offshore holdings and problems...I'm a happy investor.
I also like raising the capital gains tax and what he's doing with them and death. Many people prefer to hold onto expensive assets rather than sell them so they pay NO capital gains. None. Seriously, why do you think Donald Sterling wants to hold onto the Clippers so bad? It's not like the estate tax (which I am against), but it is on those holdings that qualify as capital gains. If this goes through (it won't so quit your bitching people, Jesus Christ) then Sterling selling the Clippers now rather than waiting until he dies will cost the same tax-wise (if we lived in an estate-tax free vacuum ). Which is fair in my book. Plus I'm all about closing loopholes like this.
I know everyone is appalled by the $$$$$ of the budget and I KNOW this is going to blow the top off the vocal Keynesians here...but we don't live in a Keynesian world anymore. Government spending is money in our pocket, and out of the governments. Austere measures only work to pull money back from the private and into the public sector. We can print our own money, and as crazy as this sounds...we MUST print money for the economy to grow. All of our debts are payable in USD and USD only...guess who makes USD...no one but us. Control inflation and unemployment and we'll be fine. Be austere, balance a budget, and try to wipe out debt will only result in the fall of the private sector that fiscal conservatives so fervently support. Unfortunately the taxes must remain because that's the primary thing giving our money value...if Uncle Sam didn't require taxes to be paid in it...more popular forms of currency or bartering would surely pop up. It's the modern economic world, not the one your parents grew up in. Read up on Modern Monetary Theory because I've learned to only post once in Political Discussion threads , its been working to explain how the global system has been working since 1971. Yet the vast majority of the public and just about every one of our public leaders is still fixated on fiscal policy that is detrimental to Americans. Fiscal and monetary policy can work together...but they haven't been for a while and it's fucking us.
Edited by Mr. Bojangles (02/03/15 02:43 PM)
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zappaisgod
horrid asshole


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Re: Obama's Four Trillion Dollar Budget! [Re: Mr. Bojangles]
#21222593 - 02/03/15 06:44 PM (8 years, 11 months ago) |
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Why should anybody have to pay US taxes on money earned in and taxed by a foreign country?
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: zappaisgod]
#21224195 - 02/04/15 01:11 AM (8 years, 11 months ago) |
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Quote:
zappaisgod said: Why should anybody have to pay US taxes on money earned in and taxed by a foreign country?
They only owe taxes if the foreign country has a lower rate than the US, and then they only pay the difference.
They're US citizens, so why wouldn't they pay US taxes?
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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zappaisgod
horrid asshole


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Quote:
Falcon91Wolvrn03 said:
Quote:
zappaisgod said: Why should anybody have to pay US taxes on money earned in and taxed by a foreign country?
They only owe taxes if the foreign country has a lower rate than the US, and then they only pay the difference.
They're US citizens, so why wouldn't they pay US taxes?
They aren't US citizens
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: zappaisgod]
#21228181 - 02/04/15 09:32 PM (8 years, 11 months ago) |
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Quote:
zappaisgod said:
Quote:
Falcon91Wolvrn03 said:
Quote:
zappaisgod said: Why should anybody have to pay US taxes on money earned in and taxed by a foreign country?
They only owe taxes if the foreign country has a lower rate than the US, and then they only pay the difference.
They're US citizens, so why wouldn't they pay US taxes?
They aren't US citizens
Who were you referring to by "anybody"?
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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zappaisgod
horrid asshole


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Corporations. That was what we were talking about. Corporate taxation. Try to follow through more than two exchanges
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: zappaisgod]
#21230399 - 02/05/15 12:43 PM (8 years, 11 months ago) |
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Same answer as before. They're US corporations, so why wouldn't they pay US taxes?
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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Citizen X
Call me Pepper,,

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Rate me here
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Falcon91Wolvrn03
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Re: Obama's Four Trillion Dollar Budget! [Re: Citizen X]
#21230708 - 02/05/15 01:56 PM (8 years, 11 months ago) |
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Quote:
Citizen X said:

Too hard to comprehend? Maybe an example would help.
Let's say I start a business selling widgets in the US. Obviously, I'll pay taxes on my profits.
Now, let's say my neighbor likes my idea and sells the same widgets to China. Do you think his company should be entitled to a tax break that I don't get?
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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Citizen X
Call me Pepper,,

Registered: 01/19/14
Posts: 7,787
Loc: Djibouti
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Lol you don't get my sense of humor, I was being sarcastic.
Easy for me to understand, but you blew Zaps mind!
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Rate me here
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