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GS wrote:<br>> I'm making a point that I suspect, despite all "no increase in<br>> taxes" claims for the "middle class", we will indeed see an increase. So I'll<br>> make a note on my calendar and revisit this issue in due time and report on<br>> how taxes have increased, decreased, or remained constant. Deal??<br>Glenn how's this deal...'I DON'T CARE!' Taxes may go up. Big whoop. As long<br>as anyone who wants a job can find gainful employment, then it would be<br>better than what we have right now which is constant job losses.<br>
<br>GS continues:<br>> Of course one would be paying more taxes if one is generating more income - no<br>> problem there. What I find abhorrent is the idea of "spreading the wealth" by paying<br>> much much more in taxes than Bob the Builder simply because I make more than some<br>> arbitrary figured deemed to put me in the "rich" category. (Currently I think that was<br>> $250,000 but I'll bet we see that drop down to the $100,000 range over the next 4 years).<br>> I find this to be nothing more than a penalty for being successful. Wrong, wrong, wrong,<br>> by any standard, wrong. IMHO.<br>I look at taxes as a way to support an infrastructure that allows me to me to make money.<br>If taxes are cut similar to the George W. Bush tax cuts and the infrastructure cracks as it<br>has now with the housing and stock markets collapses, then the money saved by the tax<br>cuts is overwhelmed by the values lost in assets. Bill Clinton raised taxes, had a surplus,<br>and presided over the greatest peacetime economic expansion is US history. You can<br>blow smoke all you want about how 'unfair' the system is for providing you a way to<br>generate as much income as you want. The income tax is bracketed. You pay the<br>exact same amount of taxes on your taxable income as Bob the Builder does as you<br>both move in parallel through the same bracket. Once you exceed Bob's income you<br>continue to pay whatever tax rate is assessed per that dollara level amount as you<br>continue to move through the brackets. You continue to pocket money as you earn<br>it which is your reward for being successful. If avoiding tax is of more importance to<br>you than pocketing money, then consult with your accountant and financial planner<br>to find out legal ways of lowering your taxable income. Me personally, I find financial<br>planners who tell me ways of staying out of top tax bracket worthless. I would prefer<br>that they point me in the right direction to blow through the top tax bracket every<br>year because once again, that would mean more money in my pocket rather than<br>avoiding increasing my earnings in some cockamamie attempt to reduce my taxes.<br>Bitch all you want about taxes. It's your problem to solve, not mine and you and I<br>obviously have different goals. Mine is maximizing income, yours is minimizing taxes.<br><br>GS finishes with:<br>> I'm only suggesting that if Obama will not or cannot make good on his campaign promises<br>> (and I'll give him more than 3 times as many days) public perception and approval is going<br>> to fall. Certainly it will take time to do all he wants or hopes to do, but I think a year<br>> should be enough to see any significant move towards these issues. Side point: I noted<br>> in his acceptance speech he's starting to backpedal already with "It may not happen in<br>> a year. It may not happen in our first term." Time will tell. GS<br><br>Obama is going to break campaign promises??? Say it ain't so! The American public has<br>no memory. They only care about their pocketbook and possible government services.<br>As the economy goes, so goes the approval rating of the President and Congress. And<br>yes, time will tell, but I'm not going to sit around and wait for the elections in 2010 and<br>2012, instead I'll just enjoy living for today while planning for the future.<br><br>Time will also tell whether you, GS, will be lamenting when Obama and Dems are voted<br>out of office. My prediction is 'No'.<br><br>-Scott<br><br /><hr />Get 5 GB of storage with Windows Live Hotmail. <a href='http://windowslive.com/Explore/Hotmail?ocid=TXT_TAGLM_WL_hotmail_acq_5gb_112008' target='_new'>Sign up today.</a></body>
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