Tax hikes. - Page 2

noonereal · #11 08-04-2009, 05:59 PM

Quote:

Originally Posted by Charles

Someone has to pay for all of this. If you've got two nickles to rub together, you're gonna pay.

Case in point. We got hit by the AMT (millionaires tax), probably due to my sly maneuver of paying myself very little on payroll but taking dividends from the corporation. We ain't millionaires by a long shot. Seems like when this law was passed, it was to catch a hand full of the rich who figured out a way around income tax. Now podunks like me are getting caught by it, never was indexed for inflation.

But what do I know, I'm just a poor slob working for the "man".

Chas

I hate when stuff like that happens!

As my dad always taught me, be thankful you made enough that you owe that much.
(not the same as getting caught as you were but the positive way to look at it)

Sandy G · #12 08-04-2009, 08:46 PM

....An' then there's the onerous inheritance tax, when my granmother died at 104 in '02, they got 87% of everything she had...We had been fighting it for years, I got her house, & was told I was lucky I didn'y have to sell it to pay the taxes on it. Somehow, something is SERIOUSLY wrong when you must give everything to the Gummint when you die...We had enuff to pay the lawyers, the women who stayed w/her 24/7 the last 18 months of her life, & that was it.

cabinover · #13 08-05-2009, 04:28 AM

That's terrible Sandy. My in-laws went through that in Florida when their Aunt died. The state took a large handfull of cash since the Aunt never had a will.

merrylander · #14 08-05-2009, 07:50 AM

The problem with the AMT is that it has not been adjusted for inflation. Here in MD I believe the inheritance tax does not kick in until after the first million.

noonereal · #15 08-05-2009, 07:52 AM

nothing for me to worry about, never inherited a thing and never will

cabinover · #16 08-05-2009, 08:43 AM

Don't believe I'll ever have to worry about it either but that doesn't any inheritance tax right with me. Why should any part of government have their hands out just because someone died?

noonereal · #17 08-05-2009, 11:56 AM

I have no stance on this issue as it does not affect me but I would ask you, who and what do you think it is appropriate to tax?

cabinover · #18 08-05-2009, 01:19 PM

Oh Boy...

If I had to take a guess at who and what to tax it would probably go like this. A flat tax of some amount as well as a sales tax.

I don't mind paying my taxes to support the military to keep our country safe. I don't mind paying tax on fuel to drive my cars/ motorcycles on public roads.
I would not mind paying say 10% income tax along with EVERYONE else, no exceptions, no loopholes, nada. Same with corporations-10%

As for an inheritance tax, the money has already been taxed. Why would anyone think it's fine to tax it again?

Come to think of it, I don't even think we should both taxes. Choose one or the other, income or sales. I'll take income. Make it a cool 20%.

What do ya think?

Twodogs · #19 08-05-2009, 02:37 PM

I was thinking about this today as I heard a talking head say that if they taxed everyone that made over 500k 100%, it would make 1.2 trillion against a 4 trillion deficit. That makes it pretty easy to figure out who's gonna pay for all this stuff. Here's some hints for the slow among us; it ain't gonna be the crack dealers, or the illegal immigrant workers, or women on welfare that are churning out kids/meal tickets, or the insanely wealthy. There's not a doubt in my mind that America will pull through and survive the policies of this administration, but as usual, it will be on the backs of the working man. Let's just pray it's only 4 years worth.

noonereal · #20 08-05-2009, 03:43 PM

Quote:

Originally Posted by cabinover

Oh Boy...

If I had to take a guess at who and what to tax it would probably go like this. A flat tax of some amount as well as a sales tax.

I don't mind paying my taxes to support the military to keep our country safe. I don't mind paying tax on fuel to drive my cars/ motorcycles on public roads.
I would not mind paying say 10% income tax along with EVERYONE else, no exceptions, no loopholes, nada. Same with corporations-10%

As for an inheritance tax, the money has already been taxed. Why would anyone think it's fine to tax it again?

Come to think of it, I don't even think we should both taxes. Choose one or the other, income or sales. I'll take income. Make it a cool 20%.

What do ya think?

I like your proposal. I do think that both a 10% tax and a sales tax is fairest than just a 20% income tax.