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Author Topic: Congress Lets 50 Tax Breaks Expire  (Read 1702 times)

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Offline formerlurker

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Congress Lets 50 Tax Breaks Expire
« on: January 01, 2010, 05:23:43 PM »
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Among the expiring individual tax breaks: the deduction for state and local sales taxes for itemizers (which benefits mainly residents of states that don't impose an income tax); the additional $1,000 deduction for real estate taxes for those who claim the standard deduction; the $4,000 deduction for college tuition; and a special $250 deduction for teachers who spend their own money on classroom supplies.

http://www.forbes.com/2009/12/22/tax-amt-research-credit-senate-personal-finance-expiring-tax-breaks.html
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Offline thundley4

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #1 on: January 01, 2010, 05:47:52 PM »
But they aren't tax increases.  :uhsure:
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Offline BadCat

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #2 on: January 02, 2010, 12:22:55 PM »
Freakin' THIEVES.
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The road to freedom is paved with dead liberals.

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Offline Oceander

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #3 on: January 02, 2010, 12:33:22 PM »
Quote from: BadCat on January 02, 2010, 12:22:55 PM
Freakin' THIEVES.

They were that whether or not these particular gimmes expired or not.  besides which, I would bet even money that most of them will be retroactively extended, at least for people making less than, say, $200,000 (which seems to be the current Democrat Party definition of "rich SOB").
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Offline Freeper

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #4 on: January 02, 2010, 07:59:13 PM »
Who woulda thunk that democrats would let tax breaks expire?  :-)

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Offline bkg

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #5 on: January 03, 2010, 05:31:33 PM »
I've never understood why states w/o income tax were allowed to deduct their sales tax... but those of us who get bent over by the state cannot deduct sales tax...

They're planning on bringing back the estate tax, either this year (expired Friday) or to pre-2001 levels in 2011.

It is theivery, but it's entirely constitutional given how poorly it's worded.
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Offline Peter3_1

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #6 on: January 10, 2010, 09:08:13 PM »
When this admin. started out it was clear that the rich were going to be defned as anyone who had any earnings at all. And so it has come to pass. Yes, those Dem's sure know how to "soak the rich" don't they?
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Offline Lacarnut

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #7 on: January 11, 2010, 10:59:30 AM »
Quote from: bkg on January 03, 2010, 05:31:33 PM
I've never understood why states w/o income tax were allowed to deduct their sales tax... but those of us who get bent over by the state cannot deduct sales tax...

They're planning on bringing back the estate tax, either this year (expired Friday) or to pre-2001 levels in 2011.

It is theivery, but it's entirely constitutional given how poorly it's worded.

If you have an elderly rich relative that is on their last few months of life, they need to die this year because Jan 1 of 2011 the 55% estate tax is coming back.
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Offline thundley4

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #8 on: January 11, 2010, 11:07:28 AM »
Quote from: Lacarnut on January 11, 2010, 10:59:30 AM
If you have an elderly rich relative that is on their last few months of life, they need to die this year because Jan 1 of 2011 the 55% estate tax is coming back.

I'm sure that DUmmies are already planning such things.
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Offline MrsSmith

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #9 on: January 11, 2010, 01:18:54 PM »
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and a special $250 deduction for teachers who spend their own money on classroom supplies.
  Education is dominated by Democrats, though less so in the lower grades (and FAR more so on university campuses and in the NEA), but you have to wonder...did the Dems really just shaft all those underpaid and overworked Dem teachers...or do they just assume that only Repukes will spend their own money on supplies? 
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Offline Peter3_1

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Re: Congress Lets 50 Tax Breaks Expire
« Reply #10 on: January 11, 2010, 11:49:47 PM »
put everything in joint titles or in a small family trust years ago.  never trust politicians,.
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