A Clear Explanation of Tax Cuts

[Underdog07]

Originally Posted by elwood49

Actually, this affects me directly. I have about $50k in debt from student loans, and deducted it on my taxes last year (made less than $55k because of it being a "stub" year since I just graduated).

Now, I make over $55k, and am labeled "rich" under the above criteria, even though I'm hardly that. I actually accelerated my student loan repayment because I get no deduction for it, but I can deduct my mortgage payments. The mortgage has a higher rate (6.25% vs. 5% on the student loan), but it's worth paying the student loan off first because of no deduction. Bottom line, I'm sick of paying for most of these subsidized programs.

I graduated in 1998. In 2000 after Sept 11th I was discussing my loans with a friend and he said - you've consolidated them, right? I said yeah they are all from one bank. He laughed and explained what consolidation really was. BC I screwed up in 1998 I was able to lock the loan in for a lifetime rate under 3%. My stupidity paid off!

[cblakey1]

That's a good'un Country, but they missed the bit where the barkeep fired his help and can't afford healthcare anymore.

He stopped training his staff and outsourced his book-keeping to india.

The tax cuts are just that, tax cuts for the rich. The ones that need it least are the biggest beneficiaries. Also note that the benefit to the poorest is zero.

The real moral of this story, you can put lipstick on a pig and it's still a pig. Look up sophistry in the dictionary. An ingeniously presented argument that appears logical at first sight but is found to be flawed on deeper examination.

If the explanation makes you feel better though, good for you!

[sellin71]

Originally Posted by cblakey1

That's a good'un Country, but they missed the bit where the barkeep fired his help and can't afford healthcare anymore.

He stopped training his staff and outsourced his book-keeping to india.

The tax cuts are just that, tax cuts for the rich. The ones that need it least are the biggest beneficiaries. Also note that the benefit to the poorest is zero.

The real moral of this story, you can put lipstick on a pig and it's still a pig. Look up sophistry in the dictionary. An ingeniously presented argument that appears logical at first sight but is found to be flawed on deeper examination.

If the explanation makes you feel better though, good for you!

It doesn't really make me feel better. I just know that what is, is what is and what probably will be. Changing our polictical system in this country is a pipe dream, both parties have been bought and sold decades ago. Everything we see on the news is just a dog and pony show.

I really just post these things to watch you get fired up.
You are still my most favorite lefty in the whole wide world (you just edged out David Letterman!)

[Makkari1]

Originally Posted by cblakey1

That's a good'un Country, but they missed the bit where the barkeep fired his help and can't afford healthcare anymore.

He stopped training his staff and outsourced his book-keeping to india.

The tax cuts are just that, tax cuts for the rich. The ones that need it least are the biggest beneficiaries. Also note that the benefit to the poorest is zero.

The real moral of this story, you can put lipstick on a pig and it's still a pig. Look up sophistry in the dictionary. An ingeniously presented argument that appears logical at first sight but is found to be flawed on deeper examination.

If the explanation makes you feel better though, good for you!

Apparently you didn't see the charts that showed who is paying what. I know this to be true because I am in the top 25% and I'm not rich in any way. 50% of the wage earners are only paying 3% of all taxes while the other 50% pays 97% of all taxes. How can a person who is considered poor get a tax break when they are not paying taxes in the first place. Not only are they benefiting from not paying any tax but in some cases (that I know personally) are actually being given a tax refund. How the hell does a person not pay any taxes and get a refund? So yeah the tax cuts are for those who pay taxes.

If tax cuts are for the rich, then tell me how many jobs has a poor man created? The economy is driven by people spending money and if money is not being spent then jobs are not being sustained or created. When taxes are high money is not spent as freely and jobs stagnate or are lost. So people complain and Uncle ScAM tries to equalize by given tax breaks to those who didn't pay any in the first place. The problem is not the rich or the poor its the government that tries to spread misery equally. Whenever the govn't gets involved in trying to do anything right they will invariably screw it up.

Uncle ScAM has a tendancy to get in the way of people creating wealth with burdensome taxes and rules that even the IRS can't even figure out (true story, try and call an IRS agent for tax advice). When politicians get their blood thursty greedy hands on your money they can't get enough. Will there ever be a time when the government will say we have enough of your money take a break for a few years? They could take all our money and still find ways to waste it all and help no one, and I invite anyone on this board to say I'm wrong.

I propose a change so people will remember just know how much money is being given to Uncle ScAM and we can hold government accountable. Lets change election day to April 16th just after income tax deadline day so it can still be freash in peoples mind just how much we pay in taxes, just a thought.