Obama admin has done a good job managing the economic crisis of Bush

#176
#176
Rasputin_Vol said:
A fact that needs to be drilled inside of people's heads.

Although, I still don't see a family (or individual for that matter) that makes $75k per year having any of their income taxed at 25%. $75,000 isn't exactly "balling".
Click to expand...

Right. Also good to remember the bracket lines are for taxable income after deductions and personal exemptions.
 
#177
#177
Ernest T. Vol said:
You might want to think about that some more. Don't avoid more money to save taxes unless there is > 100% tax (which there isn't). Might be different if you are planning on deferring income for some other planning reasons. If you and your wife cross over into the 25% bracket at $74,900 in 2015, its only the dollars above that line that taxed at 25%.
Click to expand...

I was unaware of that, thank you.
 
#178
#178
Flashback (just one of many similar conservative predictions at the time):

Obama's Radicalism Is Killing the Dow - WSJ

Dow-Boskin-Op-Ed.jpg
 
  • Like
Reactions: 5 people
#186
#186
82_VOL_83 said:
Why do you keep using Obama and budget in the same sentence as if they actually have anything to do with each other?
Click to expand...

So you're telling me the out of control spending republicans always blame Obama for is all bs?
 
#187
#187
Vol8188 said:
Increase spending, lower taxes.....that's the worst financial plan I've ever heard.

It would be similiar to buying a new car, and then dropping down to part time.
Click to expand...

There have been several instances when taxes have been cut, and the following year the government has had increased tax revenue. The percentages are lower but they take in more revenue due to the growth caused by said cuts
 
  • Like
Reactions: 1 person
#188
#188
volfanhill said:
There have been several instances when taxes have been cut, and the following year the government has had increased tax revenue. The percentages are lower but they take in more revenue due to the growth caused by said cuts
Click to expand...


Yep, I've found several examples.

"The most illustrative example began in 2012, when Kansas’ Republican Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high-income earners and businesses. Less than two years after that tax cut, the state’s income tax revenues plummeted by a quarter-billion dollars — and now Brownback is pushing to use money for public employees’ pensions to instead cover the state’s ensuing budget shortfalls.

Brownback’s proposal: Slash the state’s required pension contribution by $40 million to balance the state budget, even though Kansas already has one of the worst-funded pension systems in the nation.

Brownback defended his proposal to take money from middle-class state workers and use it to effectively finance his tax cuts for the wealthy. He told the Wichita Eagle: “It’s kind of, uh, well where are you going to go for the funds? And I don’t like it, but it’s kind of what’s your other option if you don’t hit K-12 and higher ed with allotments?”

Brownback is not alone. He joins fellow Republican Gov. Chris Christie in coupling large tax breaks with cuts to actuarially required pension payments. In New Jersey, Christie slashed required pension payments while signing legislation expanding tax credits to corporations, and doling out a record amount of taxpayer subsidies to businesses. Many of those subsidies have flowed to firms whose executives have made campaign contributions to Republican political organizations. Earlier this month, New Jersey pension trustees filed a lawsuit against Christie for not making legally required contributions to the state’s pension system.

Both Brownback and Christie promoted their tax cuts as instruments to boost economic growth. Yet, a recent review of federal data by the Kansas City Star found Kansas “trails most other states when it comes to job growth.” Likewise, an investigative series by Gannett newspapers recently found “New Jersey’s job growth rate [is] the second worst in the nation. … New Jersey’s middle class has lost billions in income through layoffs, salary cuts and wage freezes [and] more than 100,000 job seekers have been unemployed for months on end.”

Illinois followed a somewhat similar path. For years, lawmakers did not make the full actuarially required pension payments, causing severe funding shortages in the state’s pension system. While lawmakers said there was little money to meet pension obligations, Democratic Gov. Pat Quinn signed a corporate tax cut in 2011 that is projected to cost the state more than $370 million a year in lost revenue. Two years after signing that bill, as pension funding gaps swelled, Quinn signed legislation slashing public employees’ retirement benefits. An Illinois judge last month ruled that the legislation violated the state’s constitution, though the ruling is being appealed."

This simply will not work, we need less government in our lives and we simply don't have the money. So lets order another round of 100 tanks we don't need, the war on drugs that is only enforced on a certain segment of our population, and heck let's even give congress a raise for their hard work! Of course after the new year, all these problems will be solved by the new majority.
 
Last edited:
  • Like
Reactions: 3 people
#189
#189
#VFL__ said:
Yep, I've found several examples.

"The most illustrative example began in 2012, when Kansas’ Republican Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high-income earners and businesses. Less than two years after that tax cut, the state’s income tax revenues plummeted by a quarter-billion dollars — and now Brownback is pushing to use money for public employees’ pensions to instead cover the state’s ensuing budget shortfalls.

Brownback’s proposal: Slash the state’s required pension contribution by $40 million to balance the state budget, even though Kansas already has one of the worst-funded pension systems in the nation.

Brownback defended his proposal to take money from middle-class state workers and use it to effectively finance his tax cuts for the wealthy. He told the Wichita Eagle: “It’s kind of, uh, well where are you going to go for the funds? And I don’t like it, but it’s kind of what’s your other option if you don’t hit K-12 and higher ed with allotments?”

Brownback is not alone. He joins fellow Republican Gov. Chris Christie in coupling large tax breaks with cuts to actuarially required pension payments. In New Jersey, Christie slashed required pension payments while signing legislation expanding tax credits to corporations, and doling out a record amount of taxpayer subsidies to businesses. Many of those subsidies have flowed to firms whose executives have made campaign contributions to Republican political organizations. Earlier this month, New Jersey pension trustees filed a lawsuit against Christie for not making legally required contributions to the state’s pension system.

Both Brownback and Christie promoted their tax cuts as instruments to boost economic growth. Yet, a recent review of federal data by the Kansas City Star found Kansas “trails most other states when it comes to job growth.” Likewise, an investigative series by Gannett newspapers recently found “New Jersey’s job growth rate [is] the second worst in the nation. … New Jersey’s middle class has lost billions in income through layoffs, salary cuts and wage freezes [and] more than 100,000 job seekers have been unemployed for months on end.”

Illinois followed a somewhat similar path. For years, lawmakers did not make the full actuarially required pension payments, causing severe funding shortages in the state’s pension system. While lawmakers said there was little money to meet pension obligations, Democratic Gov. Pat Quinn signed a corporate tax cut in 2011 that is projected to cost the state more than $370 million a year in lost revenue. Two years after signing that bill, as pension funding gaps swelled, Quinn signed legislation slashing public employees’ retirement benefits. An Illinois judge last month ruled that the legislation violated the state’s constitution, though the ruling is being appealed."

This simply will not work, we need less government in our lives and we simply don't have the money. So lets order another round of 100 tanks we don't need, the war on drugs that is only enforced on a certain segment of our population, and heck let's even give congress a raise for their hard work! Of course after the new year, all these problems will be solved by the new majority.
Click to expand...

I didn't say always. There are several factors that can impact this. JFK cut taxes and in turn revenues increased. But you probably knew that.

Do Tax Cuts Increase Government Revenue? - Forbes
 
  • Like
Reactions: 2 people
#191
#191
#VFL__ said:
Yep, I've found several examples.

"The most illustrative example began in 2012, when Kansas’ Republican Gov. Sam Brownback signed a landmark bill that delivered big tax cuts to high-income earners and businesses. Less than two years after that tax cut, the state’s income tax revenues plummeted by a quarter-billion dollars — and now Brownback is pushing to use money for public employees’ pensions to instead cover the state’s ensuing budget shortfalls.

Brownback’s proposal: Slash the state’s required pension contribution by $40 million to balance the state budget, even though Kansas already has one of the worst-funded pension systems in the nation.

Brownback defended his proposal to take money from middle-class state workers and use it to effectively finance his tax cuts for the wealthy. He told the Wichita Eagle: “It’s kind of, uh, well where are you going to go for the funds? And I don’t like it, but it’s kind of what’s your other option if you don’t hit K-12 and higher ed with allotments?”

Brownback is not alone. He joins fellow Republican Gov. Chris Christie in coupling large tax breaks with cuts to actuarially required pension payments. In New Jersey, Christie slashed required pension payments while signing legislation expanding tax credits to corporations, and doling out a record amount of taxpayer subsidies to businesses. Many of those subsidies have flowed to firms whose executives have made campaign contributions to Republican political organizations. Earlier this month, New Jersey pension trustees filed a lawsuit against Christie for not making legally required contributions to the state’s pension system.

Both Brownback and Christie promoted their tax cuts as instruments to boost economic growth. Yet, a recent review of federal data by the Kansas City Star found Kansas “trails most other states when it comes to job growth.” Likewise, an investigative series by Gannett newspapers recently found “New Jersey’s job growth rate [is] the second worst in the nation. … New Jersey’s middle class has lost billions in income through layoffs, salary cuts and wage freezes [and] more than 100,000 job seekers have been unemployed for months on end.”

Illinois followed a somewhat similar path. For years, lawmakers did not make the full actuarially required pension payments, causing severe funding shortages in the state’s pension system. While lawmakers said there was little money to meet pension obligations, Democratic Gov. Pat Quinn signed a corporate tax cut in 2011 that is projected to cost the state more than $370 million a year in lost revenue. Two years after signing that bill, as pension funding gaps swelled, Quinn signed legislation slashing public employees’ retirement benefits. An Illinois judge last month ruled that the legislation violated the state’s constitution, though the ruling is being appealed."

This simply will not work, we need less government in our lives and we simply don't have the money. So lets order another round of 100 tanks we don't need, the war on drugs that is only enforced on a certain segment of our population, and heck let's even give congress a raise for their hard work! Of course after the new year, all these problems will be solved by the new majority.
Click to expand...

Cuts to the corp tax rate helps everyone but subsidies should go away. Personally I couldn't care less about publicly funded pension plans.
 
  • Like
Reactions: 2 people
#193
#193
volfanhill said:
There have been several instances when taxes have been cut, and the following year the government has had increased tax revenue. The percentages are lower but they take in more revenue due to the growth caused by said cuts
Click to expand...

The timing of tax cuts play on large role when cutting taxes. The W tax cuts were one of the dumbest moves I have seen our government do. Common sense is all one needs to realize that we cannot have a large tax cuts when we are expanding entitlement programs, adding a new department to our government and entering into multi wars. That is equal to buying a new home and two new cars on credit then cut back from full time employment to a part time job and think everything will be okay.
 
  • Like
Reactions: 1 person
#195
#195
Dave1967 said:
Nothing wrong about hating a Man who's trying to destroy the Military and Country. I proudly say that I'm a Barry Soetaro hater.
Click to expand...

The article in the link was dated March 6, 2009. BO was sworn in Jan 20, 2009. A news article written with 60 days of O being sworn into office that his polices would kill the Dow was premature speculation that we all know now was 100% incorrect. The Dow has exploded during the Obama years.

I don't think Obama nor any other man that has served the office of the president of the USA has tried to destroy our military and country. Saying our current or any former presidents has tried to destroy our nation is pure ignorance. Their policies may have failed, that is different than intentionally trying to destroy.
 
  • Like
Reactions: 4 people
#196
#196
Dave1967 said:
Nothing wrong about hating a Man who's trying to destroy the Military and Country. I proudly say that I'm a Barry Soetaro hater.
Click to expand...

Holy ****! That's some of the dumbest **** I've ever read.

How is he trying to destroy the military?
 
  • Like
Reactions: 3 people
#197
#197
Vol8188 said:
Holy ****! That's some of the dumbest **** I've ever read.

How is he trying to destroy the military?
Click to expand...

You haven't been paying attention. Research just how many top military leaders have been forced to resign after a meeting with the POTUS. Look at the reduction in military budgets (not necessarily a bad thing but not as an across the board exercise).

Take a look at when our military can defend themselves and ask yourself if you would want to serve under those rules.
 
  • Like
Reactions: 2 people
#198
#198
KentheOrange said:
You haven't been paying attention. Research just how many top military leaders have been forced to resign after a meeting with the POTUS. Look at the reduction in military budgets (not necessarily a bad thing but not as an across the board exercise).

Take a look at when our military can defend themselves and ask yourself if you would want to serve under those rules.
Click to expand...

So there could be no valid reason for their resignation? Maybe they weren't doing their job....

Then again, that probably is a part of President Obama's EVIL plan.
 
Last edited:
  • Like
Reactions: 3 people
New posts
You must log in or register to reply here.
Advertisement





Back
Top