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Author Topic: New tax rates... are you ready?  (Read 1773 times)

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Offline bkg

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New tax rates... are you ready?
« on: November 30, 2009, 07:56:07 PM »

Bush tax cut expiration puts top bracket: 39.5%
New healthcare millionaire's tax: 5.4%
Proposed "war tax": 5.4%
Payroll tax increase proposal: 16%**
Medicare increase proposal: 3.9%
Payroll fine for not providing healthcare: 8%

Top Federal Tax bracket for business owners: 78.2%**

Add to that MN state business income tax: 9.5%

New top MN tax bracket: 87.7%

Oh... and per Jason Lewis this afternoon, there's also a proposal to kill the itemized deduction for the top bracket, which is effectively another ~3.2-3.5% increase.

That should spur the economy.  :banghead: :banghead:
** - includes employee portion
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Offline Freeper

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Re: New tax rates... are you ready?
« Reply #1 on: November 30, 2009, 07:58:58 PM »
It may create new jobs I'm sure the IRS will need more help collecting all the new taxes.
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Offline bkg

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Re: New tax rates... are you ready?
« Reply #2 on: December 03, 2009, 07:55:50 PM »
So during the charade of jobs creation, Obama says gov't will not raise taxes and wants to do what's best for business...But also stated that healthcare will go through, as will cap-n-tax... And the Bush tax cuts, which affect ALL tax brackets, will be rolled back. So yeah, no tax increases... not one.
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Offline rich_t

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Re: New tax rates... are you ready?
« Reply #3 on: December 03, 2009, 08:14:43 PM »
Quote from: bkg on December 03, 2009, 07:55:50 PM
So during the charade of jobs creation, Obama says gov't will not raise taxes and wants to do what's best for business...But also stated that healthcare will go through, as will cap-n-tax... And the Bush tax cuts, which affect ALL tax brackets, will be rolled back. So yeah, no tax increases... not one.

Obama speak with forked tongue.

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Offline bkg

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Re: New tax rates... are you ready?
« Reply #4 on: December 03, 2009, 08:17:56 PM »
Quote from: rich_t on December 03, 2009, 08:14:43 PM
Obama speak with forked tongue.



 :rotf: :rotf: that cracked me up!
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Offline Baruch Menachem

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Re: New tax rates... are you ready?
« Reply #5 on: December 06, 2009, 10:56:32 AM »
So, the liberal talking heads will be totally confused by January's unemployment numbers. 
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Offline DumbAss Tanker

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Re: New tax rates... are you ready?
« Reply #6 on: December 06, 2009, 01:59:13 PM »
Mixing the employer and employee portion of the taxes together before doing the total does make the final number artificially high, that needs to be cleaned up.  It's quite bad enough without following East Anglia's lead by building in errors that can be attacked later.

And by 'Quite bad enough' I mean that even with no errors in the calculation, taxpayers will be taking it up the ass, dry and high.
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Offline Chris_

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Re: New tax rates... are you ready?
« Reply #7 on: December 06, 2009, 03:19:41 PM »
Quote from: rich_t on December 03, 2009, 08:14:43 PM
Obama speak with forked tongue.



Be verrrrry careful young jedi......

doc
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Offline Hawkgirl

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Re: New tax rates... are you ready?
« Reply #8 on: December 11, 2009, 03:35:08 PM »
Quote from: rich_t on December 03, 2009, 08:14:43 PM
Obama speak with forked tongue.



Um...why didn't you just say the President....why did you have to say Obama?? What does his name have to do with anything?  :lmao:


 :fuelfire:
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Offline thundley4

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Re: New tax rates... are you ready?
« Reply #9 on: December 11, 2009, 07:31:42 PM »
Quote from: Hawkgirl on December 11, 2009, 03:35:08 PM
Um...why didn't you just say the President....why did you have to say Obama?? What does his name have to do with anything?  :lmao:


 :fuelfire:

I for one almost never use the words Obama and president in the same sentence, unless it's something like this: Obama makes a lot of people miss President Bush.  :-)
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Offline Chris

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Re: New tax rates... are you ready?
« Reply #10 on: December 11, 2009, 11:50:05 PM »
Quote from: Freeper on November 30, 2009, 07:58:58 PM
It may create new jobs I'm sure the IRS will need more help collecting all the new taxes.

The IRS was already outsourcing tax return processing some time last year.  I don't expect this year to be any better.
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