Tax cuts for the rich.

[The Buddha]

After the tax breaks for the rich passed by Pres Bush were retained by the repubuickans strong arming obama, so their wealthy overlords have got their return on investments, the GOP has decided to change its emblem from the elephant to a condom because it more accurately reflects the repubuickan's political stance ... A condom allows for inflation, halts production, destroys the next generation, protects a bunch of dicks, and gives you a sense of security while you're actually being screwed.

Damn, it just doesn't get more accurate ...

Cool.
Buddha.

[Paulcet]

I saw that one posted a while ago about the donkey!
Funny either way.  Yeah, either way we're screwed... So maybe not so funny...

[The Buddha]

I think we could turn all campaign donations to anonymous ... that's the only way it can be so the donors dont get undue influence. Like no one is allowed to say who they are and what they want in exchange for donations.
Cool.
Buddha.

[The Buddha]

I saw that one posted a while ago about the donkey!
Funny either way.  Yeah, either way we're screwed... So maybe not so funny...

BTW the thing about this joke being posted with the donkey (ass) is a lie ... you lie ... you lie ... you lie ... 

It was posted about the "ashoka pillar" which is the emblem of india. Essentially its an injun joke that I adapted to rape-a-buick-can's just as I was listening to the news about the tax cuts being passed cos the rape-a-buick-can's were holding the unemployment and middle class cuts hostage.

Cool.
Buddha.

[karatechop5000]

What I noticed is, yes, the top earners get to keep that extra 3% for two more years; but inheritance taxes are back (25 days left to kill grandpa).  Unemployment benefits are extended (I am currently unemployed).  The R's show their true colors.  Life goes on.

I noticed all this while working on my GS500.

[The Buddha]

The top income earners usually on much of their income pay 15% in taxes. Why ... cos most of their income is considered capital gains. They now pay 12%. The working class stiff's pay anywhere from 32% to 50-60%. They now get to pay 29% to 47-57%. The tax code is really really screwed up.
The capital gains tax is just bogus, its considered reward for businesses taking risks and its considered a long term investment and ROI.
However a loop hole allows for any one and everyone, like angelo mozilo with his insider trading out of 300 million of country wide stock while advising the company to buy back as he was selling and housing flippers with dozen's of failed flips to take any profits in the deals as capital gains. Its meant to aid people with long term vision like buying up land and buildig roads and sewers and electrical and then selling parcels for housing or commercial - typically something that takes years and hence adds tremendous value. Anyway I think politicians should not know who is giving them $, that would effectively kill the buying up of influence en masse.
Cool.
Buddha.

[karatechop5000]

What I noticed is, yes, the top earners get to keep that extra 3% for two more years; but inheritance taxes are back (25 days left to kill grandpa).  Unemployment benefits are extended (I am currently unemployed).  The R's show their true colors.  Life goes on.

I noticed all this while working on my GS500.

Ugg.  I may be wrong about these facts.  Somebody on facebook said the inheritence taxes were reduced.  I'll check Jon Stewart for the details.

[The Buddha]

Inheritance tax is set to shoot up EOY.
That actually is very likely to happen. I hope it does. However its effect on the country's bottom line will be minimal. Cos any one with a real inheritance usually has the $ in a trust.
Cool.
Buddha.

[mister]

We are getting a new $10 coin down here in Oz. While its value will be ten bucks, it will only cost $11 to make each one - can you guess which politician has a stake in the mint that will press them?

Anyway, here's a pic of it...



Michael

[The Buddha]

I saw that one posted a while ago about the donkey!
Funny either way.  Yeah, either way we're screwed... So maybe not so funny...

BTW the thing about this joke being posted with the donkey (ass) is a lie ... you lie ... you lie ... you lie ... 

Sorry reading this paulcet it sounds bad.
But I was just channeling the guy from SC or GA was it that shouted that out in the health care debate to Obama.
Cool.
Buddha.

[spc]

That would be Rep (R) Wilson, he's my district's congressman 

[spc]

And just as a note:  I've met someone affected by the tax cut for which the R's have been holding out.  He's donated more to charity in the last year than most of the members of this board will make in their lifetime.  I am strongly in favor of this class receiving tax cuts, but then, I don't think we should penalize productivity, ingenuity and efficiency........three concepts upon which our government has a very poor grasp. 

But then, I still think we should have forced Madoff to be SecTr in lieu of jail time.  The man obviously knows how to squeeze a buck at every one else's expense and instead we got stuck with an imbecile who couldn't even do his taxes correctly with the aid of turbotax...

[The Buddha]

Well even in the case of someone like you're talking about spc the idea is that if he has been doing things that are long term that easily entitles him to a capital gains tax bracket. The loophole allows the crooks on wall street, and short term gain type mentality to also get into that capital gains bracket.
As you can well imagine there is 10X the latter than the former. In the absence of real laws to stop them the logical thing is to let the higher taxes come back into effect.
Cool.
Buddha.

[karatechop5000]

As you can well imagine there is 10X the latter than the former. In the absence of real laws to stop them the logical thing is to let the higher taxes come back into effect.

And then some.  That kind of wealth is heavily dependent on the infrastructure and the military protection we all pay for (money and blood).  Not to mention natural resources we share collectively.  It is impossible to "earn" billions of dollars.