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  1. #1
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    What is it going to take to get a bipartisan deal done in Washington?

    I'll give in on raising taxes on the top 2%, but entitlement reform has to be on the table.
    Quote:
    Originally Posted by justinnum1
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  2. #2
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    Quote Originally Posted by Longhornfan1234 View Post
    I'll give in on raising taxes on the top 2%, but entitlement reform has to be on the table.
    sadly you can't give it. The only thing that will make it happen is a plan on the table that enough people support that it w3ill get them out in the streets protesting for compromise. But when was the last time you heard the words militant and middle, or passionate and middle put together.

    Quote Originally Posted by MrPoon
    man with hair like fire can destroy souls with a twitch of his thighs.

  3. #3
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    My prediction

    Obama wants to raise taxes on everyone over 250k GOP says 1 million. They settle at 500-600k.

    They get 10 dollars in cuts for every 1 dollar in tax increases.

    Then when the GOP gets the presidency we will get rid of the debt ceiling. I'm fine with getting rid of it, but the GOP isn't going to let that happen on Obama's watch because they need it to semi control what he spends on and hold it over his head.


    Come to psd where admitted dupes who do nothing but troll the gd and fs forum are free. But man don't you dare mention trolling on someone's wall.

  4. #4
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    Quote Originally Posted by behindmydesk View Post
    My prediction

    Obama wants to raise taxes on everyone over 250k GOP says 1 million. They settle at 500-600k.

    They get 10 dollars in cuts for every 1 dollar in tax increases.

    Then when the GOP gets the presidency we will get rid of the debt ceiling. I'm fine with getting rid of it, but the GOP isn't going to let that happen on Obama's watch because they need it to semi control what he spends on and hold it over his head.
    You go that high (500k) you won't get much in cuts. even at 10 to 1.


    What I wold like to see in my fantasy world is capital gains over 250,000 taxed at the income rate.That is tied to a privatization of Social Security for every one who is under 35 (yes I am 36.)
    Last edited by flips333; 11-20-2012 at 12:44 PM.

    Quote Originally Posted by MrPoon
    man with hair like fire can destroy souls with a twitch of his thighs.

  5. #5
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    Quote Originally Posted by flips333 View Post
    You go that high (500k) you won't get much in cuts. even at 10 to 1.


    What I wold like to see in my fantasy world is capital gains over 250,000 taxed at the income rate.That is tied to a privatization of Social Security for every one who is under 35 (yes I am 36.)
    Well that's the republican's goal of course. And it's part of the problem is it's basically all washington speak.

    Interesting on your fantasy world on how it'd work for hedge funds etc. For instance a hedge fund i'm in buys and sells everyday. The total makes well over 250k but I only get a share of that (I think I made like 4k maybe last year on it). But with hedge fund rules it's screwy when reporting for instance. I held the fund for 3 years now but since it buys and sells stocks everyday i can't claim on my taxes long term investment. So not sure how'd that work in your fantasy world example. (IRS is one funny *****)


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  6. #6
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    trying to find out how much it'd actually raise Flips at 500k. I found that if you raise taxes to the Buffet rule over people making over 1 million a year it'd bring in 46 billion over 10 years so on average 4.6 billion a year is all.


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  7. #7
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    Quote Originally Posted by behindmydesk View Post
    trying to find out how much it'd actually raise Flips at 500k. I found that if you raise taxes to the Buffet rule over people making over 1 million a year it'd bring in 46 billion over 10 years so on average 4.6 billion a year is all.
    When you're in dire financial straits you should never trivialize savings, especially those that are in the $4.6 billion a year range...
    Quote Originally Posted by AmsterNat View Post
    How unsurprising. Dude, give up trying to argue with valade. He cut you into little pieces, had you for breakfast, and shat you out.
    Quote Originally Posted by mariner4life View Post
    Valade you have totally owned this thread. Well done
    My fanbase is growing.

  8. #8
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    Quote Originally Posted by valade16 View Post
    When you're in dire financial straits you should never trivialize savings, especially those that are in the $4.6 billion a year range...
    It's increased tax revenue it's not savings.


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  9. #9
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    Quote Originally Posted by behindmydesk View Post
    trying to find out how much it'd actually raise Flips at 500k. I found that if you raise taxes to the Buffet rule over people making over 1 million a year it'd bring in 46 billion over 10 years so on average 4.6 billion a year is all.
    Ehhh... never mind then. It just pissed me off that income made because you have wealth is taxed less than income you make from work. It just seems unamerican from a puritan sense.

    Quote Originally Posted by MrPoon
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  10. #10
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    I would settle for a reduction of the top wage rate to about 30% and taxing capital gains like it is actual income and not an imaginary kind of income that needs to have a warm seat waiting for it when it is earned.

    They might create a seperate bracket for $500K and above and tax it at 39.6% though as opposed to changing the brackets.
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  11. #11
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    Quote Originally Posted by flips333 View Post
    Ehhh... never mind then. It just pissed me off that income made because you have wealth is taxed less than income you make from work. It just seems unamerican from a puritan sense.
    Well it def would be more then 46 billion over 10 years. Even at 500k (vs 250k).


    On the unamerican I can see where you are coming from, but I don't agree in the sense that it isn't work. It is work, investing, picking the right place to invest, knowing when to sell, etc is very much work. Heck people make it there career. It does lead to the point how did we get to the point where we classify it differently though. Both are work, both are income generating why not tax them the same? And this is coming from a guy who doesn't want the capital gains raised. I think there probably is a compromise say the first X amount is tax free whether it's from annuities, savings, stock buying and selling, or plasma/egg/sperm selling. Or if the country would stop rocking my style and let me sell organs.


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  12. #12
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    Quote Originally Posted by behindmydesk View Post
    It's increased tax revenue it's not savings.
    a semantical error doesn't change the underlying message:

    scoffing at an extra $4.6 billion for a government in financial turmoil is ridiculous...
    Quote Originally Posted by AmsterNat View Post
    How unsurprising. Dude, give up trying to argue with valade. He cut you into little pieces, had you for breakfast, and shat you out.
    Quote Originally Posted by mariner4life View Post
    Valade you have totally owned this thread. Well done
    My fanbase is growing.

  13. #13
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    If it was me that made the decisions on taxes, it would go something like this.

    Treat capital gains, ordinary income and inheritance as the same as ordinary income. The same progressive rates, the same standard deductions, all that stuff. Basically saying if you earn 60K by 20K from income, 20K from capital gains, 20K from inheritance you would pay no tax. Fix the rates to make things work, but treat income as income.

  14. #14
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    Quote Originally Posted by Longhornfan1234 View Post
    I'll give in on raising taxes on the top 2%, but entitlement reform has to be on the table.
    Explain a little further on this "entitlement" reform. What exactly are we reforming and I suggest reading this first: http://www.cbpp.org/cms/index.cfm?fa=view&id=3677



    Quote Originally Posted by behindmydesk View Post
    My prediction

    Obama wants to raise taxes on everyone over 250k GOP says 1 million. They settle at 500-600k.

    They get 10 dollars in cuts for every 1 dollar in tax increases.

    Then when the GOP gets the presidency we will get rid of the debt ceiling. I'm fine with getting rid of it, but the GOP isn't going to let that happen on Obama's watch because they need it to semi control what he spends on and hold it over his head.
    My prediction is no deal gets done, they hit the fiscal cliff and then instead of selling this as an "extension of tax cuts for SOME people", the Dems then get to present a "tax cut plan" that leaves out those over $250k, and not many GOPers will fight something labeled a "tax cut plan", so it'll pass as exactly the same thing as if they gave in now, but the Dems will look better since they "cut" taxes.

  15. #15
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    Quote Originally Posted by valade16 View Post
    a semantical error doesn't change the underlying message:

    scoffing at an extra $4.6 billion for a government in financial turmoil is ridiculous...
    I see what your saying but that's the basic argument of tax raising. When does it stop. Dont' scoff at 4.6 but what about raising the top rate to say 50% and get 100 billion over 10 years. Even less of a scoff then.


    Same can be said of cutting, don't scoff at cutting here and there and getting 4.6 billion a year savings.


    Come to psd where admitted dupes who do nothing but troll the gd and fs forum are free. But man don't you dare mention trolling on someone's wall.

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