Welcome to the APBWeb.
Results 1 to 12 of 12
  1. #1
    Retdetsgt's Avatar
    Retdetsgt is offline How did I get here!
    Verified LEO
    Join Date
    12-07-05
    Location
    Oregon
    Posts
    1,944
    Rep Power
    7757734

    But wait, there's more!

    If this isn't a recipe for financial disaster, I don't know what is. We gotta get him and the Demokrats out before this happens.

    Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011
    February 26, 2009 12:00 PM


    President Obama's budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.

    1) On people making more than $250,000.

    $338 billion - Bush tax cuts expire
    $179 billlion - eliminate itemized deduction
    $118 billion - capital gains tax hike

    Total: $636 billion/10 years

    2) Businesses:

    $17 billion - Reinstate Superfund taxes
    $24 billion - tax carried-interest as income
    $5 billion - codify "economic substance doctrine"
    $61 billion - repeal LIFO
    $210 billion - international enforcement, reform deferral, other tax reform
    $4 billion - information reporting for rental payments
    $5.3 billion - excise tax on Gulf of Mexico oil and gas
    $3.4 billion - repeal expensing of tangible drilling costs
    $62 million - repeal deduction for tertiary injectants
    $49 million - repeal passive loss exception for working interests in oil and natural gas properties
    $13 billion - repeal manufacturing tax deduction for oil and natural gas companies
    $1 billion - increase to 7 years geological and geophysical amortization period for independent producers
    $882 million - eliminate advanced earned income tax credit

    Total: $353 billion/10 years


    Political Punch: Obama's Budget: Almost $1 Trillion in New Taxes Over Next 10 yrs, Starting 2011
    When I used to be somebody (I'm center top)

    "A burning desire for social justice is never a substitute for knowing what you're talking about". -Thomas Sowell-

  2. #2
    countybear's Avatar
    countybear is offline BDRT - Baby Daddy Removal Team
    Verified LEO
    Super Moderator
    Join Date
    01-18-07
    Location
    Louisiana
    Posts
    6,512
    Rep Power
    4611614
    Stimulus... CHANGE!!

    Yeah... right.

    "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."
    - Alexis de Tocqueville, Democracy in America

    Tell me not, Sweet, I am unkind,
    That from the nunnery
    Of thy chaste breast and quiet mind
    To war and arms I fly.
    - Lovelace

    The opinions expressed by this poster are wholly his own, and should never be construed to even remotely be in representation of his employer, its agencies or assigns. In fact, they probably fail to be in alignment with the opinions of any rational human being.

  3. #3
    Retdetsgt's Avatar
    Retdetsgt is offline How did I get here!
    Verified LEO
    Join Date
    12-07-05
    Location
    Oregon
    Posts
    1,944
    Rep Power
    7757734
    I'm serious, Guys, this is scary. I watched LBJ do this same stuff, raising taxes for his "Great Society" in the 60's and it set off a chain of events that ended up in horrible inflation. I remember being thrilled at being able to get a home loan at 9%, most of it was 2 digits. This hits the very people who make our economy viable. If they can't invest, nothing gets done and no jobs get created. Democrats have never figured this out. I hope Americans figure this out before it happens.

    My wife told me she wants to retire due to a bunch shit going on with the state where she works. I'm scrambling to refinance our home loan before the interest rates start up.
    When I used to be somebody (I'm center top)

    "A burning desire for social justice is never a substitute for knowing what you're talking about". -Thomas Sowell-

  4. #4
    MacLean's Avatar
    MacLean is offline O/R Gun mod
    Verified LEO
    Super Moderator
    Join Date
    09-05-07
    Location
    Washington State
    Posts
    11,770
    Rep Power
    4546390
    The thing is, even in that article they don't tell you the truth.

    If the Bush tax cuts expire, my family will pay $1800 more in taxes, and we do not make 250K.

    This is scarier than even the media is going to report.
    I'm your huckleberry...

    Quemadmoeum gladis nemeinum occidit, occidentus telum est!

    You can be the weapon, and the gun in your hand is a tool - or the gun is a weapon and you are the tool.


    I was looking for a saint who was a devil of a lover,
    but every girl I found was either one way or the other...



  5. #5
    Morris is offline Chief Wheaties Pisser
    Verified LEO
    Join Date
    10-24-07
    Location
    Just outside Latteland
    Posts
    1,391
    Rep Power
    970799
    Several friends who are accountants, financial planners and money types are genuinly disturbed by this package. As one planner told me, "Maybe that Russian dude will be right!", meaning the breakdown of these united States.

    We are already seeing some deflation which will, into the course of one to two years, lead us into some significant inflation. Even my ever loving liberal and Democrat voting wife admitted that we are at the top end of a depression and will likely wind up much lower (she an accountant, finance director and a former IG team member for the FDIC).

  6. #6
    Retdetsgt's Avatar
    Retdetsgt is offline How did I get here!
    Verified LEO
    Join Date
    12-07-05
    Location
    Oregon
    Posts
    1,944
    Rep Power
    7757734
    I'm no money guy and a lot of people know more about economics than I do. But I am a history buff and unfortunately have lived through a lot of it. And the adage that history repeats itself is so true.

    The far left had the reins of government from 1964 to 1980. Even Nixon rubber stamped every domestic spending bill Congress handed to him, he was only interested in foreign policy. Ford tried to rein them in a little, but didn't have much luck. Carter took us right over the cliff, only Reagan saved us.

    Obama and Congress are chomping at the bit to do the same dumb things. I've pretty much written off all my stock market holdings. They went down nearly 50% and I have little faith they will recover enough to do my much good. And most of that money came from a lot of years of hard, long overtime I earned. Guess I should have done like some of my peers and blown it on toys.......

    Our only hope is the economy tanks enough in the next few years that voters will get him, Pelosi and Reed out before they make the damage irreparable.
    When I used to be somebody (I'm center top)

    "A burning desire for social justice is never a substitute for knowing what you're talking about". -Thomas Sowell-

  7. #7
    BigDawg's Avatar
    BigDawg is offline K-9 Officer
    Verified LEO
    Site Moderator
    Join Date
    06-15-06
    Location
    So. Florida
    Posts
    5,312
    Rep Power
    1659715
    As I said before we are now in the era of Tax and spend government.
    "An Unarmed man can only flee from evil, and evil is not overcome by fleeing from it." Jeff Cooper


    Some people are meant to be the police......Some people are meant to call the police!!!

    "Socialism only works in two places: Heaven where they don't need it and hell where they already have it."
    -Ronald Reagan


    " I believe that forgiving them (Terrorist) is God's function. OUR job is to arrange the meeting."
    General Norman Schwartzkopf

    Not all Muslims are Terrorists, but all Terrorists are Muslim.
    (author unknown)


    The statements posted by BigDawg DO NOT reflect the opinions, views, policies, or procedures of the author's employing agency. These statements are the personal opinions of BigDawg only, thereby releasing my agency of any liability, or involvement in anything posted under the user name of BigDawg. The opinions expressed by BigDawg are protected by the 1st Amendment of the U.S. Constitution. BigDawg’s messages are intended to invoke thought and discussion among the "Officer Resources" forum community and may not necessarily reflect the opinion of the author. BigDawg’s posts and any attachments are intended for an adult audience (18+) and may contain strong language, sexual content, nudity, violence, and may be graphic in nature. Some material may be considered offensive; reader discretion is advised. Please note that many of BigDawg’s posts are intended for entertainment value only. BigDawg’s posts are not intended to be used where prohibited by law. Furthermore, BigDawg's posts, and any attachments, may contain information covered by the Electronic Communications Privacy Act, 18 U.S.C. 2510-2521, and is confidential and proprietary in nature. If you are not the intended recipient, please be advised that you are legally prohibited from retaining, using, copying, distributing, or otherwise disclosing this information in any manner.

  8. #8
    mavriktu's Avatar
    mavriktu is offline Patrol Sgt.
    Verified LEO
    Join Date
    05-21-06
    Location
    Louisiana
    Posts
    2,847
    Rep Power
    5559832
    So they gonna tax on investment interet???Big WhoopI was just informed by my bank that the interet on my CD went from 3.9,down to 1.2May as well invest it in First National MattressSubstantial Penalty for early withdrawal???Oh yeah,whats that gonna be 75 cents??

  9. #9
    cntryboy0531 is offline THE five-oh
    Verified LEO
    Join Date
    12-03-05
    Location
    Somewhere in Florida
    Posts
    1,911
    Rep Power
    5562962
    We're screwed. Frankly, I'm just praying that at the end of all of this, me and the wife will be able to come out with at least a job and able to buy the basics for life.

  10. #10
    lewisipso's Avatar
    lewisipso is offline Injustice/Indifference/In God we trust
    Supporting Member Lvl 3
    Verified LEO
    Super Moderator
    Join Date
    02-02-07
    Location
    Louisiana
    Posts
    14,658
    Rep Power
    6822865
    God help us.
    Do not war for peace. If you must war, war for justice. For without justice there is no peace. -me

    We are who we choose to be.

    R.I.P. Arielle. 08/20/2010-09/16/2012


  11. #11
    mtaylor's Avatar
    mtaylor is offline "I dont feel the need to explain myself!"
    Supporting Member Lvl 3
    Join Date
    11-18-08
    Location
    Dallas, TX
    Posts
    347
    Rep Power
    20580
    Reagen was able to help the econemy by cutting taxes(captial gains tax was 70% at the time) and decreasing government spending. Obama's idea of helping the economy increase government spending and raise taxes. The new deal didn't work in the 30's and it wont work now. The new president has been in office less than 2 mths and so far he has spent $1,000,000,000,000 and the dow has droped way over 1000pts.
    Romans 13:4
    For he is God's servant to do you good. But if you do wrong, be afraid, for he does not bear the sword for nothing. He is God's servant, an agent of wrath to bring punishment on the wrongdoer.

  12. #12
    TXCharlie's Avatar
    TXCharlie is offline Former & Future Reserve Officer
    Join Date
    12-29-05
    Location
    Dallas Area
    Posts
    5,528
    Rep Power
    3224951
    Quote Originally Posted by maclean View Post
    If the Bush tax cuts expire, my family will pay $1800 more in taxes, and we do not make 250K.
    Ditto - I noticed in clips of his speech, that Obama is very careful to say that only HIS tax hike affects people making over $250k.

    He doesn't really address what effect the expiration of the Bush tax cuts will be exactly.

    That tells me that he is a Bill Clinton type of liar - Not telling the whole truth (or misleading people, whichever you prefer) is still a lie, even though it may technically be correct.

    The fact is that they present "letting tax cuts expire" to be vastly different than a tax hike by the same amount. I hope people aren't dumb enough to think there's a difference.

    (\__/)
    (='.'=) This is Bunny. Copy and paste Bunny into your
    (")_(") signature to help him gain world domination.

 

 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •