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To: randomhero97
Stupidity knows no bounds. This tax hike would be passed off to the consumer.

What consumer? This is likely to nail my paycheck directly. There isn't any "consumer" to absorb it. It means disposable income that I won't be spending. Less reason for businesses to have employees selling goods and services that I won't have money to purchase. My experience will be multiplied by lots of others who won't be spending money that has been taxed away.

If this passes, I'll go to my company payroll administrator and immediately request participation in the key employee income deferral plan. That records my income as a liability on the company books without making it payable and taxable until I request it in the future. I'll stash as much in company matched 401k first, then fallback to deferral to keep my income under the limit.

15 posted on 06/14/2007 12:10:10 PM PDT by Myrddin
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To: Myrddin

Remember the old luxury tax ?

The elites then had their expensive yachts built over seas. The government collected very little revenue.

Ten of thousands of middle class families suffered from the loss of these good paying jobs. It hit the direct ship yard workers and also the secondary set of workers and their families ( nearby restaurant, shopping, entertainment jobs and businesses ).


21 posted on 06/14/2007 1:02:05 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: Myrddin
I'll stash as much in company matched 401k first, then fallback to deferral to keep my income under the limit.

Then you'll get hit by a bus.

50 posted on 06/14/2007 3:04:27 PM PDT by HIDEK6
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