Posted on 11/21/2012 10:48:09 PM PST by WilliamIII
>>Simplify the tax codes; let every free man know where he stands, and what he must do to succeed. An ever-shifting landscape of blame invites disaster.
Yes. My proposal would eliminate the IRS and the income tax completely. The government needs to get out of the “social engineering via taxes” business and get back to its very limited role.
Levin is spot on with his analysis.
This "tax the rich - make them pay their fair share" mantra is obamski's war cry. It speaks directly to the mis-guided emotions of the idiots in this country and gives them a villian to hate while diverting blame from where it belongs. It has been obscenely effective.
The left is counting on the GOP digging in its heels on this and will use it as a broom to sweep the House in 2014...thereby giving obamski both houses and full rein to pass utterly destructive laws in his final half term. The damage a leftist potus, senate and house could and would do would be life-threatening.
Increasing taxes on those with income over $250K (yes, I am in that group) would do virtually nothing to fix the economy and would likely make the jobs situation worse.
But, it would neuter the war cry and take that arrow out of their quiver for 2014.
And, the truth is that unless they strip away a boatload of deductions guys like me will still use the laws to pay little or no tax.
First, Bill Kristol can’t raise anyone’s tax rate. He’s TALKING, not doing. We understand that raising the tax rates on the wealthy is not a good idea. We also just lost an election. As a matter of fact, there will be more Democrat Senators in a couple of months. They can raise the tax rate. It could be that Kristol is a communist, but I don’t think so. I think he’s looking at this strategically. If we keep losing elections to the Democrats, it won’t matter what any Republican thinks about tax rates. The Democrats will force their ideas through based on winning elections. I think Kristol is trying to use Judo on the Democrats. Use your opponent’s attack against him. Pelosi has been out three times this past week yammering about raising taxes on the rich. Take her attack and don’t match your energy against hers. Direct her energy to the ground. She wants us to raise a big fuss over this and then she turns to the media and the Democrat voters and says, “See! The Republicans only care about the rich!” We lose big in the 2014 elections and the tax rates go up because they controlled the argument.
“Among the others who I think it’s time just to go someplace and talk among yourselves, would be Bill Kristol,” Levin said. “I don’t know what he’s added to anything other than giving aid and comfort to Obama’s attack on capitalism and successful people. This has to be the 40th time he’s said something on this.”
HOORAY Mark!
My income is over 250k and I know of no legal and economically efficient way of sheltering it from income taxes. Maybe you have effective tax minimization strategies, but I don’t. I am the one that needs protection from Obama.
BIG GOVERNMENT IS CRONY SOCIALISM. DEFUND their collectives. DISMANTLE their collectives. DEPOPULATE them from the body politic.
Some of the damage socialists have inflicted on “we the people” without recourse or consequences...
Pay, pensions and perks of all legislators past and present rescinded for not reducing/eliminating the debt.
(...it is a moral crime to give money to support ideas with which you disagree; it means: ideas which you consider wrong, false, evil. It is a moral crime to give money to support your own destroyers. - “The Sanction of the Victims”, TOF, April 1982.7.)
“—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.”
Alter it.
And, if the GOP draws the line here then obamski will absolutely get the congress he wants in 2014 and the increase he wants now will look like chickenfeed compared to what they would impose without any opposition.
I only have 1 source of income - my job. This is what limits my opportunity to minimize my taxes.
Tax revenue raised should fund necessary and constitutional government. Period. Not Planned Parenthood, not private organizations like ACORN etc. If its not part of governments core constitutional functions, it should not be funded.
My investment property strategy involves buying smaller properties that are in good school districts near LIRR stations and/or hospitals.
The one exception to this rule is that we bought a potential retirement condo on a golf course in Arizona. We rent it out and take the deductions. We may or may not use it ourselves later on but for now it is not only paying for itself but generating about 18% per annum.
This has been fruitful for the past two decades or so but changes in how income from such sources will be taxed might make it less attractive as a new venture.
At the very least you should have a fat Roth IRA.
I appreciated your tips. Unfortunately I am a tin-foil hat wearing conspiracy theorist. Because of this I have been avoiding 401k and other types of registered money because I fear that the government will confiscate it and/or change the rules to make me regret doing it in the first place. Something like that happened in Canada years ago such that capital gains wound up being better outside of registered retirement funds than inside, from a tax perspective.
When I heard Kristol make that statement on Fox, my mouth dropped open. The guy oozes sleaze and is clueless besides. What does a GOP-e know about the Tea Pary, anyhow? How dare he presume what we would, or would not, care about?
I’m inclined to agree with Krystol on this. Most of the very rich do reside on the east coast and California. Hey this is what they voted for then feel free. In fact I’d be in favor for a 90% tax on every millionaire in Hollywood. Also if they want to power NYC and Malbu on %100 solar and wind go for it. Limit the kind of cars they can drive. Give them what they good and hard.
I wouldn't consider cuts to be "significant" until they eliminate all the programs that our federal government has no business doing.
That includes ALL welfare, social security, most "scientific studies", sugar subsidies, and a myriad of other nonsense. My view of what the federal government should be doing is completely consistent with the idea that federal taxes are way too high right now. There is absolutely no justification for raising anybody's taxes.
The House is still in Republican hands. The only tax rate increases that are assured are those that were already passed by a prior Republican House and are part of the "fiscal cliff".
This House might change hands in 2014 if the libs and media are successful at blaming the Republicans for the coming collapse.
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