Pay No Taxes for 6-Months!!!

Slidefox · 01-05-2009, 11:58 PM

So, I usually watch MSNBC, CNN, CSPAN, and all that good stuff at night after my fiance falls asleep. I was just listening to a bunch of financial experts on Fast Money (CNBC), and they were talking about Obama's stimulus package which includes a nice tax cut for about 85% of Americans.

They were saying that a tax cut of this kind will help us now, but put us deeper into debt 10-15yrs from now. One of the experts said he had a better way to stimulate the economy. Instead of making us pay less taxes each pay period for the next year (Which the feds say will be around $1.4 Trillion), and giving us $700 Billion in stimulus next year; why don't we just not pay any income taxes for the first 6-months. I was like that be an extra $400-$500 on my paycheck for the next 6-months!!! He said that would cause an instant stimulus to the economy and increase spending. It will also allow those in debt to pay back some of there debt or allow people to increase there equity by paying of items such as cars and homes.

I think it would be pretty nice to not pay taxes for 6-months! What do you think?

CrownR426 · 01-15-2009, 05:18 PM

That's awesome but how would we not pay taxes?
I pay tax everyday buying beer, dutch masters, food, etc...

dad · 01-15-2009, 05:23 PM

I like to be kissed when I'm getting ******! Because that's what that will amount too!

drmike · 01-15-2009, 06:33 PM

^^^ so you're OK with a reach-around from Uncle Sam?

frost · 01-15-2009, 06:40 PM

I think that's a much better plan than the one being laid out. The problem with the stimulus check is that most people will only use it to pay bills.

drmike · 01-15-2009, 07:45 PM

Quote:

Originally Posted by frost

I think that's a much better plan than the one being laid out. The problem with the stimulus check is that most people will only use it to pay bills.

Mine will go right into my back taxes, which is fine with me!

Slidefox · 01-15-2009, 07:47 PM

Quote:

Originally Posted by CrownR426

That's awesome but how would we not pay taxes?
I pay tax everyday buying beer, dutch masters, food, etc...

Income taxes...

dad · 01-15-2009, 08:02 PM

Quote:

Originally Posted by drmike

^^^ so you're OK with a reach-around from Uncle Sam?

He doesn't kiss or give a reach around!

frost · 01-16-2009, 09:42 PM

Quote:

Originally Posted by dad

He doesn't kiss or give a reach around!

More like forcing you over a stump and ravaging you without bothering to lube up first.

Asheth · 01-21-2009, 10:25 PM

Quote:

Originally Posted by Slidefox

So, I usually watch MSNBC, CNN, CSPAN, and all that good stuff at night after my fiance falls asleep. I was just listening to a bunch of financial experts on Fast Money (CNBC), and they were talking about Obama's stimulus package which includes a nice tax cut for about 85% of Americans.

They were saying that a tax cut of this kind will help us now, but put us deeper into debt 10-15yrs from now. One of the experts said he had a better way to stimulate the economy. Instead of making us pay less taxes each pay period for the next year (Which the feds say will be around $1.4 Trillion), and giving us $700 Billion in stimulus next year; why don't we just not pay any income taxes for the first 6-months. I was like that be an extra $400-$500 on my paycheck for the next 6-months!!! He said that would cause an instant stimulus to the economy and increase spending. It will also allow those in debt to pay back some of there debt or allow people to increase there equity by paying of items such as cars and homes.

I think it would be pretty nice to not pay taxes for 6-months! What do you think?

That would be nice to not pay income taxes. (technically there is no law stating that you must pay income taxes and it wasn't ratified by all the states but that is another subject

)

semtex · 02-10-2009, 12:47 PM

I like the idea of not having to pay income tax for the first 6 months, but sadly, this will never happen. Know why? Because a large portion of Obama's constituency already doesn't pay income tax! You know who I'm talking about, right? The deadbeats he wants to give tax "rebates" to?

As for those of us who do pay income taxes, we're considered "the rich" in Obama's world view, hence giving us a break would amount to "a tax cut for the rich." And that, my friends, isn't going to happen under this administration.

The Weapon · 02-10-2009, 01:41 PM

Quote:

Originally Posted by semtex

I like the idea of not having to pay income tax for the first 6 months, but sadly, this will never happen. Know why? Because a large portion of Obama's constituency already doesn't pay income tax! You know who I'm talking about, right? The deadbeats he wants to give tax "rebates" to?

As for those of us who do pay income taxes, we're considered "the rich" in Obama's world view, hence giving us a break would amount to "a tax cut for the rich." And that, my friends, isn't going to happen under this administration.

Yep... he's a present day Robin Hood or.. Robbin' Da' 'Hood!

I bust my *** everyday to get everything I have and paid about 30k in taxes for 2008 and that's not including Medicare or SS so lazy *** people can sit at home and drink their 40's and smoke their crack.

There's a reason me and my wife don't want kids because we don't want to support anyone else other than ourselves and indulge ourselves as much as we can, but some how we still can't when we have to support deadbeats.

Asheth · 02-10-2009, 02:29 PM

Quote:

Originally Posted by semtex

I like the idea of not having to pay income tax for the first 6 months, but sadly, this will never happen. Know why? Because a large portion of Obama's constituency already doesn't pay income tax! You know who I'm talking about, right? The deadbeats he wants to give tax "rebates" to?

As for those of us who do pay income taxes, we're considered "the rich" in Obama's world view, hence giving us a break would amount to "a tax cut for the rich." And that, my friends, isn't going to happen under this administration.

His view is of upper class is $90,000 a year income it may be even higher but I know that it is definitely not anything less then $60,000 a year those are the people that are viewed as the fortunate in Obama's view. Its not just if you pay taxes your considered rich.

Edit:

Found this

Quote:

Obama Defines “Middle Class”
by Major Garrett

WASHINGTON — 9 p.m. EDT

I wanted to throw out for consideration and debate a question I’ve found myself asking Democrats, Republicans, Independents and economists for years: who is in the middle class?

In the 1990s, the answers I received were almost entirely linked to income figures - the income of a family of four, or three or of a single person in his or her twenties, or an elderly person on a fixed income determined how close or how far they were from “middle class” status.

About the time of millennium, I began to notice that the answer to who was “middle class” began to change from relatively precise figures to very broad income strata. It was as if politicians — particularly at the national level — began to believe that incomes varied as widely as the core cost of living. Therefore, an income designation, for example, linked to the U.S. Census Bureau definition of median or mean income for an individual or family, would no longer work as a means of defining with precision who was or was not middle class.

In other words, individuals or families in New York, Los Angeles, Chicago, San Francisco, Boston or other high-cost urban areas could earn three times the median or mean family income and still feel strapped by month-to-month costs.

In other words, middle class status seemed over time to be less rooted in specific income figures, but regional differences in income and cost-of-living. It also seemed to reflect a sense among politicians and some economists that “middle class” is not just a matter of figures, but also a state of mind.

At my suggestion, my colleague Bill Hemmer was kind of enough to ask Sen. Barack Obama in London how he defined the middle class.

Here is the transcript of that exchange:

HEMMER: You mentioned the economy. You travel back to the U.S. this weekend. You’re going back to a country with a limping economy, “ailing,” I think, is one of the words The Economist used at the end of last week.

You have suggested that taxes will be raised on some Americans. You have also suggested that taxes will be lowered for some Americans. In a limping or an ailing economy, why raise taxes on anyone?

OBAMA: Well, the — because we also have a $400 billion or so budget deficit, because we’ve also got to invest in infrastructure. We’ve got to deal with the fact that a lot more people are unemployed and are going to need unemployment benefits. We’ve got to shore up the housing market because people are experiencing foreclosures.

And that’s why I’ve structured a change in the tax code where if you are making $150,000 a year or less, you’re getting a tax cut, 95 percent of the American families will get a tax cut.

HEMMER: What do you consider…

OBAMA: And the people who are going to see their income taxes raised, go up, are making more than $250,000 a year. So you and I will pay a little bit more in taxes because we can afford it. And what that allows us to do is to help the vast majority of Americans who are really hurting in this economy.

HEMMER: I know we’re pushed for time. Can you give me a definition of the middle class based on income, within a range?

OBAMA: You know, what I would say is, if you are making more than $250,000, than you’re more than middle class. You’re doing better. If you are making less than $250,000, then you are definitely somewhere in the middle class.

And if you’re making $150,000 or less, than I think most Americans would agree that you’re middle class. So that’s why the fact that if you are making less than $250,000, you will not see your taxes go up under an Obama administration. And you will get tax cuts and more money in your pocket if you make less $150,000.

link

Asheth · 02-10-2009, 02:50 PM

Link to Stimulus Package details

Break down of the Obama Stimulus and Recovery Bill

$250,000

Quote:

Tax Cuts to Make Work Pay and Create Jobs: We will provide direct tax relief to 95 percent of American workers, and spur investment and job growth for American Businesses.

semtex · 02-10-2009, 03:00 PM

Quote:

Originally Posted by Asheth

His view is of upper class is $90,000 a year income it may be even higher but I know that it is definitely not anything less then $60,000 a year those are the people that are viewed as the fortunate in Obama's view. Its not just if you pay taxes your considered rich.

Edit:

Found this

link

Thanks for the clarification. Although, I must say that you kind of hit the nail on the head as to why Obama rubs me the wrong way. I get the impression that in Obama's view, those who make a good living (be that defined at a $60k+ threshold, $90k+, $250k+ or wherever) do so simply because they are "fortunate" or "lucky." It has nothing to do with working hard, being smart, and/or making better choices in life than others. In other words, it has nothing to do with merit -- it's just luck of the draw. Hence the justification for his 'share the wealth' philosophy. After all, those of us who make good livings didn't do anything to actually deserve it; we just lucked out, thus we should redistribute our income to those who aren't as lucky. Never mind that some (not all) low-income people are lazy, dumb, and/or make really bad choices in life.

In this article from Fox News, he talks about how people making more than $250k a year can afford to pay more taxes. Well, let's just say for the sake of argument that this is true. To me, that misses the point. Regardless of whether or not I can afford to carry a larger tax burden than others, why should I? If I make more than $250k a year (which I do not, btw), I would argue that I do so because of my hard work and wise choices, not simply because I 'got lucky'. In short, I've earned it! As a matter of principle, if I earn an above average income only for someone to come snatch it away -- the key word here being "earn," then that's theft of something that's rightfully mine! Being able to afford getting robbed doesn't make it okay to rob me.

Just my

01-05-2009, 11:58 PM	#1 (permalink)
Slidefox Previous Moderator Join Date: Nov 2008 Location: Arizona Posts: 1,534 Drives: A Pony Rep Power: 213	Pay No Taxes for 6-Months!!! So, I usually watch MSNBC, CNN, CSPAN, and all that good stuff at night after my fiance falls asleep. I was just listening to a bunch of financial experts on Fast Money (CNBC), and they were talking about Obama's stimulus package which includes a nice tax cut for about 85% of Americans. They were saying that a tax cut of this kind will help us now, but put us deeper into debt 10-15yrs from now. One of the experts said he had a better way to stimulate the economy. Instead of making us pay less taxes each pay period for the next year (Which the feds say will be around $1.4 Trillion), and giving us $700 Billion in stimulus next year; why don't we just not pay any income taxes for the first 6-months. I was like that be an extra $400-$500 on my paycheck for the next 6-months!!! He said that would cause an instant stimulus to the economy and increase spending. It will also allow those in debt to pay back some of there debt or allow people to increase there equity by paying of items such as cars and homes. I think it would be pretty nice to not pay taxes for 6-months! What do you think? __________________ Forum Rules: Click Here Before Posting Click Here to Become a Premium Member Go Turbo or Go Home!!//Cowboys 2012 Superbowl Champs// Suns 2012 NBA Champions

01-15-2009, 05:18 PM	#2 (permalink)
CrownR426 A True Z Fanatic Join Date: Nov 2008 Location: South Korea Posts: 4,676 Drives: Manual Rep Power: 847	That's awesome but how would we not pay taxes? I pay tax everyday buying beer, dutch masters, food, etc... __________________ Love + Hardwork + Passion RIP SVTRacer

01-15-2009, 05:23 PM	#3 (permalink)
dad Grand Prix of Endurance Join Date: Nov 2008 Location: Tennessee Posts: 3,476 Drives: Mulsanne Straight Rep Power: 25	I like to be kissed when I'm getting ******! Because that's what that will amount too! __________________ We can do without any article of luxury we have never had; but once obtained, it is not in human nature to surrender it voluntary.

01-15-2009, 06:33 PM	#4 (permalink)
drmike Enthusiast Member Join Date: Nov 2008 Location: Kern Co., California Age: 53 Posts: 356 Drives: '03 Mini S+'94 Miata Rep Power: 16	^^^ so you're OK with a reach-around from Uncle Sam? __________________ txwerks.com (side biz) xcor.com (main biz)

02-10-2009, 12:47 PM	#11 (permalink)
semtex A True Z Fanatic Join Date: Jan 2009 Location: Behind enemy lines Age: 53 Posts: 5,995 Drives: People to drink Rep Power: 32	I like the idea of not having to pay income tax for the first 6 months, but sadly, this will never happen. Know why? Because a large portion of Obama's constituency already doesn't pay income tax! You know who I'm talking about, right? The deadbeats he wants to give tax "rebates" to? As for those of us who do pay income taxes, we're considered "the rich" in Obama's world view, hence giving us a break would amount to "a tax cut for the rich." And that, my friends, isn't going to happen under this administration. __________________ "There are no small accidents on this circuit." -- Ayrton Senna 316.8whp & 248 ft/lbs (Dyno Dynamics) \| 319whp & 256 ft/lbs (DynoJet) (04/23/10) Stillen G3 CAI, CBE, Pulley / F.I. LTH / GTSpec Ladder Brace / Setrab Oil Cooler / UpRev-tuned by Forged Perf.