Home Forums Articles How To's FAQ Register
Go Back   Xoutpost.com > Off-topic > Politics Forum
Arnott
User Name
Password
Member List Premier Membership Search Today's Posts Mark Forums Read

Xoutpost server transfer and maintenance is occurring....
Xoutpost is currently undergoing a planned server migration.... stay tuned for new developments.... sincerely, the management


Reply
 
LinkBack Thread Tools Display Modes
  #1  
Old 02-28-2009, 01:05 PM
Wagner's Avatar
..make it happn' capn'
 
Join Date: Mar 2005
Location: Mt. Airy, MD
Posts: 17,747
Wagner is on a distinguished road
Thanks a ton Obama, really appreciate it.

We're FU_KED America.......

Obama's rude shock to six-figure earners - Feb. 27, 2009


Love to see how "Joe 6-Pack" would feel if this type of BS was pulled on them, but then again they're probably waiting to see who wins American Idol. Nice job establishing Class Warfare Change boy.

Epic fail. As I wrote my Senator/HR people yesterday, if this were 5 years ago and I was starting my company....I wouldn't. That should tell people something.


Finally, someone from CNN actually wrote an article about this:

Quote:
Say a family earns $300,000 a year, and pays $50,000 a year in mortgage interest; the family also contributes $5,000 to Boy Scouts, Red Cross and other charities. Under the AMT's top effective tax rate of 35%, they benefit from savings of $19,250 on those deductions.

But under Obama's new plan, the share of that $55,000 that HENRYs can deduct is no longer 35%. It's capped at 28%. Hence, their tax bill rises by almost $4,000. That's a jump in their marginal tax rate, the crucial share of an extra dollar of income they get to keep, from 35% to over 37%.
__________________

An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

Reply With Quote

Sponsored Links

  #2  
Old 02-28-2009, 01:17 PM
Member
 
Join Date: May 2008
Location: Arkansas
Posts: 180
LobsterX is on a distinguished road
Quote:
Originally Posted by Wagner
We're FU_KED America.......

Obama's rude shock to six-figure earners - Feb. 27, 2009


Love to see how "Joe 6-Pack" would feel if this type of BS was pulled on them, but then again they're probably waiting to see who wins American Idol. Nice job establishing Class Warfare Change boy.

Epic fail. As I wrote my Senator/HR people yesterday, if this were 5 years ago and I was starting my company....I wouldn't. That should tell people something.


Finally, someone from CNN actually wrote an article about this:
Hey Wagner! I think you are forgetting one important "promise" that he gave during the campaign: 'SPREAD THE WEALTH!" I guess that's the ONLY promise he is going to keep! GO CHANGE!
Reply With Quote
  #3  
Old 02-28-2009, 04:45 PM
Bimmer4125's Avatar
Member
 
Join Date: Mar 2008
Location: Milford, New York
Posts: 281
Bimmer4125 is on a distinguished road
Soon you will see mortgage interest no longer be a deductible item. This will truly initiate the screwing of the middle class as only new home buyers and those who f'ed up their "alternative" mortgages will receive any relief. There will be no benefit to owning a home other than having your own basement to hide in when the hoards come. Everytime I watch the news I realize that "work hard, get f$#ked" is becoming more and more true.
Reagan was Right.
Reply With Quote
  #4  
Old 02-28-2009, 04:48 PM
LeMansX5's Avatar
Admin
 
Join Date: Mar 2005
Location: X5world
Posts: 20,270
LeMansX5 has a spectacular aura aboutLeMansX5 has a spectacular aura aboutLeMansX5 has a spectacular aura about
Quote:
Originally Posted by Bimmer4125
Soon you will see mortgage interest no longer be a deductible item. This will truly initiate the screwing of the middle class as only new home buyers and those who f'ed up their "alternative" mortgages will receive any relief. There will be no benefit to owning a home other than having your own basement to hide in when the hoards come. Everytime I watch the news I realize that "work hard, get f$#ked" is becoming more and more true.
Reagan was Right.
Seen this video?
YouTube - Rick Santelli and the "Rant of the Year"

Last edited by LeMansX5; 02-28-2009 at 05:03 PM.
Reply With Quote
  #5  
Old 02-28-2009, 05:57 PM
JVegas's Avatar
Member
 
Join Date: Dec 2008
Location: SoCal
Posts: 173
JVegas is on a distinguished road
Hey, Socialism really worked great for Western Europe, right?? Just be glad we have Pelosi, Reid, Schumer, Frank, Dodd and the new guy Burris running the show. Dont know what I would do if we actually had some intelligence running the country...oh wait, we do have Ted Kennedy --- awful.

Jeez, you go from a community organizer to running a 3.5 Trillion dollar budget....who needs experience when you can just screw the people who elected you. Cant wait til everyone actually reads the budget and notices the $1.40 tax per gallon of gas. (that was in the fine print)...

F Obama and his cronies ... I'd take Bush back in a heartbeat !!!
Reply With Quote
  #6  
Old 02-28-2009, 06:44 PM
AzX5's Avatar
Member
 
Join Date: Mar 2005
Location: North of 110°F, City of Devils
Posts: 1,317
AzX5 is on a distinguished road
O ne
B ig
A ss
M istake
A merica
__________________
Thanks Benny! Every Breath Bernanke Takes
Reply With Quote
  #7  
Old 02-28-2009, 06:50 PM
blondboinsd's Avatar
Member
 
Join Date: Oct 2005
Location: Southern California
Posts: 5,823
blondboinsd is on a distinguished road
Quote:
Originally Posted by JVegas
Hey, Socialism really worked great for Western Europe, right?? Just be glad we have Pelosi, Reid, Schumer, Frank, Dodd and the new guy Burris running the show. Dont know what I would do if we actually had some intelligence running the country...oh wait, we do have Ted Kennedy --- awful.

Jeez, you go from a community organizer to running a 3.5 Trillion dollar budget....who needs experience when you can just screw the people who elected you. Cant wait til everyone actually reads the budget and notices the $1.40 tax per gallon of gas. (that was in the fine print)...

F Obama and his cronies ... I'd take Bush back in a heartbeat !!!
I knew he was going to ruining healthcare AND taxes for those that actually work to succeed (how dare we!) but where is this 1.40 cent hike? I want to read this and then post about it in my "anti-Obama" rant blogs
__________________
The Present:
2014 Audi Q5 TDI Prestige
The Past:
2013 Lexus GS350
2013 VW Golf TDI
2007 BMW X5 4.8i LOADED & Loved
2009 VW Jetta
2008 VW Touareg VR6
2005 BMW X5 3.0i
2005 BMW Z4 3.0i
2004 BMW X5 3.0i
2003 BMW 325i
2000 Ford Explorer Eddie Bauer 4x4
Reply With Quote
  #8  
Old 02-28-2009, 07:01 PM
SANguru's Avatar
Scuderia Ferrari Tifosi
 
Join Date: Mar 2005
Location: Bay Area, CA
Posts: 6,500
SANguru is on a distinguished road
but do you seriously think McCain or Palin for crying out loud would do any better? McCain is so old he can't even lift up his arm to count his fingers and Palin and counting.. not a chance...
Reply With Quote
  #9  
Old 02-28-2009, 07:06 PM
JCL's Avatar
JCL JCL is offline
Premier Member
 
Join Date: Mar 2005
Location: Vancouver, Canada
Posts: 11,853
JCL will become famous soon enoughJCL will become famous soon enough
Quote:
Originally Posted by Bimmer4125
Soon you will see mortgage interest no longer be a deductible item. This will truly initiate the screwing of the middle class as only new home buyers and those who f'ed up their "alternative" mortgages will receive any relief. There will be no benefit to owning a home other than having your own basement to hide in when the hoards come. Everytime I watch the news I realize that "work hard, get f$#ked" is becoming more and more true.
Reagan was Right.
Interesting perspective. I do think that mortgage interest in the US will eventually be eliminated as a deduction. There aren't many countries that let you deduct personal loans, this deduction is a significant exception. I thought that incenting people to borrow money through tax credits was likely a contributor to people borrowing too much in the pursuit of bigger homes and more mortgage debt. Wasn't that household debt one of the problems that led to the current meltdown? Why should home mortgages be deductible unless you want to encourage more mortgage debt?
__________________
2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver

2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue
Reply With Quote
  #10  
Old 02-28-2009, 07:08 PM
X5rolls's Avatar
Member
 
Join Date: Sep 2008
Location: Maryland
Posts: 1,693
X5rolls is on a distinguished road
This isn't about McCain - this is about congress and our president changing the funamentals to move rapidly towards a form of socialism. Unfortunately many of the folks who voted for change don't really understand that and or don't understand how that move will ruin our country. First to go is business. Everyone line up for free stuff now - we can stop rewarding risk taking and growth in the private sector - it's all about BIG Government.

This was the platform under our president for a long time - too bad people are surprised, maybe they could have done something about it before it was too late.

Oh, and I think it's time to seriously consider winding down working so hard and drop to a much lower tax bracket. That actually makes more sense than ever - work less and take home more or give less to the Govt.
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On





All times are GMT -4. The time now is 03:32 PM.
vBulletin, Copyright 2024, Jelsoft Enterprises Ltd. SEO by vBSEO 3.6.0
© 2017 Xoutpost.com. All rights reserved. Xoutpost.com is a private enthusiast site not associated with BMW AG.
The BMW name, marks, M stripe logo, and Roundel logo as well as X3, X5 and X6 designations used in the pages of this Web Site are the property of BMW AG.
This web site is not sponsored or affiliated in any way with BMW AG or any of its subsidiaries.