Posted on 12/08/2012 4:52:04 PM PST by PJ-Comix
What is the possibility of American producers (manufacturing, agriculture, transportation, retail, etc.) "Going Galt" after Jan. 1 if the tax rates soar as Obama wants? The Bamster is so arrogant that he thinks he can merely order it (already proposed DOUBLE the original 800 Billion tax increase) and it will be so. But what if the people it affects the most (i.e. producers) just shut down their businesses? Gas stations closed, supermarkets closed, little or no transportation, etc. The result would be not only the American economy grinding to a halt but outright panic. Of course, the ONLY way to get the producers back to working again would be to lower the tax rates. Not something the 'RATS want to do but what choice would they have?
Yep, my big day to withdraw my own money without a Government imposed Penalty, (just Obama Taxes), is January 27th.
The money I save by not paying a Penalty will be taken away due to the new Obamacare Taxes anyway, so it’s a shallow victory.
Look into rolling your IRAs into a ROTH IRA. Might be better this year.
a 20 yr old family restaurant in florida i know will be forced to either cut hours to under 28, or close the business. the owner knows the 25+ people won’t be able to survive on that.
her choice is comply and close or comply and watch employees go broke... and eventually close
i say she has a third option.. an option company owners around the country should try.
have employees sign a document opting out of the federal healthcare bs... and proceed to refuse the ‘law’
the left encourages civil disobience... lets see how long the hold that position (i know, about 5 seconds)
I believd the widespread and growing govt use of “drones” is to monitor activities on private property and to hunt down anyone who tries to live “off the grid”
Someone, somewhere someday will know if citizens have cattle, are growing crops, or are collecting rainwater (illegal) and will come after them for taxes
They are already using satellites and maybe drones? to assess higher property taxes on citizens who make home improvements
It's our standard of living that's going off the cliff to be torn apart on the rocks below.
I hope things work out for you! Will say a small prayer for you tonight.
Not sure what your income is for 2012, but you might wish to hold off until after the 1st for a possibly lower tax hit on what you take out plus possibly another year before you have to pay the tax? Talk to your tax adviser! ;)
/johnny
The good ones, with the good staff that sometimes gets in trouble for putting government flunkies in dumpsters, will do fine.
If a Revolution II ever starts, I expect it will start in a bar/restaurant.
Just like the first one.
/johnny
That would be enough to put the economy into a deep recession!!!
Lets hope it happens.
If the people use the state to battle the government as intended we have a chance
That’s definitely something to look at. You would owe some taxes due to the conversion, but they will be less this year than next, and you would avoid the 10% penalty.
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