Explain this to me, lefties.

[Denny Crane]

[video=youtube;LP2bfIdrGi8]

“Republicans in Congress and their nominee for President believe that the best way to create prosperity in America is to let it trickle down from the top,” said Obama. “They believe that if our country spends trillions more on tax cuts for the wealthy, we’ll somehow create jobs – even if we have to pay for it by gutting things like education and training and by raising middle-class taxes. They’re wrong.”

 

[Denny Crane]

How is not taxing the people and not spending money somehow government spending?

This concept (that it's somehow spending) defies logic.

 

[barfo]

What is it that you need explained to you?

Edit: ok, thanks for clarifying. Yes, it's a slight, but common, misuse of the word spend. Technically, tax breaks and loopholes are not 'spending', but they have the same effect on the federal budget. That's why they are called 'tax expenditures'.

barfo

 

[Denny Crane]

Do tell. How is taxing someone 36% instead of 39% a tax expenditure?

And even a tax expenditure isn't actual spending. It's "not taxing."

 

[barfo]

Do tell. How is taxing someone 36% instead of 39% a tax expenditure?

And even a tax expenditure isn't actual spending. It's "not taxing."

Yeah, ok. So?

barfo

 

[Denny Crane]

So, Obama sounds like ALL the money is the govt.'s and we're lucky to get whatever we get.

Get it?

 

[Haakzilla]

...maybe we should all wake-up a little more, "righties" and "lefties" included

 

[BLAZER PROPHET]

...maybe we should all wake-up a little more, "righties" and "lefties" included

Rep'd.

 

[PapaG]

The "trillions" line was bullshit, fwiw. Obama has forgotten that difference between billions and trillions, as have the rest of us since he took over the Treasury. He seems even more out of touch than Romney in terms of the value of an actual dollar.

 

[Denny Crane]

$100B in tax cuts per year for 20 years is 2 $trillions.

 

[PapaG]

$100B in tax cuts per year for 20 years is 2 $trillions.

LOL. Yeah, those 20-year projections mean shit right now. Plus, $2 trillion projected is now "trillions", when the clown President is adding $3 trillion/year to the debt.

Obama is a failure. I hope the rest of you enjoy the class warfare game, because it's so obviously not a solution, it's not even funny at all.

 

[Haakzilla]

The "trillions" line was bullshit, fwiw. Obama has forgotten that difference between billions and trillions, as have the rest of us since he took over the Treasury. He seems even more out of touch than Romney in terms of the value of an actual dollar.

...you mean this dollar?!

 

[barfo]

So, Obama sounds like ALL the money is the govt.'s and we're lucky to get whatever we get.

Get it?

You don't like the way he talks and the words he chooses. Got it.

barfo

 

[MARIS61]

Do tell. How is taxing someone 36% instead of 39% a tax expenditure?

And even a tax expenditure isn't actual spending. It's "not taxing."

Guess you missed the Reagan era. His "tax reductions" (for the rich only) resulted in the non-rich paying roughly 50% more in taxes, due to the loss of certain major deductions and credits for such things as medical expenses. His so-called reduction in government resulted in the biggest growth of government and government expense in history, the near failure of our education system, an explosion of organized crime, political graft, and the rapid deterioration of our nation's infrastructure.

 

[MARIS61]

So, Obama sounds like ALL the money is the govt.'s and we're lucky to get whatever we get.

Get it?

Obama is correct. The government is us and nothing but us. Therefore all the money (which only exists because the government prints it) is ours, and therefore all the money is the government's.

And by us I mean all of us, not just 1% of us.

And yes Denny, you are very fortunate indeed to be a part of us.

 

[MARIS61]

If you "save" $29 6 times per year by not ever changing the oil in your car, are you saving money or escalating costs?

Any 3rd grader knows the answer, but few adult conservatives can wrap their minds around it.

 

[Denny Crane]

Guess you missed the Reagan era. His "tax reductions" (for the rich only) resulted in the non-rich paying roughly 50% more in taxes, due to the loss of certain major deductions and credits for such things as medical expenses. His so-called reduction in government resulted in the biggest growth of government and government expense in history, the near failure of our education system, an explosion of organized crime, political graft, and the rapid deterioration of our nation's infrastructure.

So you're saying those tax cuts weren't spending at all. That they raised revenue meant more govt. spending.

And there was no loss of deductions for medical expenses. As a realtor, you'd know that the big loophole was closed was depreciation on investment property.

I do appreciate it that you acknowledge that big government means crappy education, more graft, deterioration of infrastructure, etc. It's a start.

 

[Denny Crane]

Obama is correct. The government is us and nothing but us. Therefore all the money (which only exists because the government prints it) is ours, and therefore all the money is the government's.

And by us I mean all of us, not just 1% of us.

And yes Denny, you are very fortunate indeed to be a part of us.

Feel free to give all your money to the government and accept whatever they decide you should get. Put your money where your mouth is.

The founders of this nation so distrusted government that they forbade the direct taxation of the people by the government. We are a nation of property rights, laws that exclude the government from taking from the people what they've created or acquired.

In no sense is the money the government's. What money the government TAKES from us is stolen from us at gunpoint. Period.

 

[Eastoff]

The "trillions" line was bullshit, fwiw. Obama has forgotten that difference between billions and trillions, as have the rest of us since he took over the Treasury. He seems even more out of touch than Romney in terms of the value of an actual dollar.

You completely missed the joke about europeans referring to billions as 1E12. You're slipping old man.

 

[MARIS61]

LOL. Yeah, those 20-year projections mean shit right now. Plus, $2 trillion projected is now "trillions", when the clown President is adding $3 trillion/year to the debt.

Obama is a failure. I hope the rest of you enjoy the class warfare game, because it's so obviously not a solution, it's not even funny at all.

I hope you enjoy being a serf to the 1%, since you've obviously surrendered rather than risk a fight.

 

[MARIS61]

And there was no loss of deductions for medical expenses. As a realtor, you'd know that the big loophole was closed was depreciation on investment property.

I do appreciate it that you acknowledge that big government means crappy education, more graft, deterioration of infrastructure, etc. It's a start.

You're wrong on all counts, except graft. Graft exists in all large organizations, but much more in the post-Reagan government because he opened the floodgates to private-sector government contractors.

Pre-Reagan ALL medical was deductible, now the bottom end is taxed.

You may deduct only the amount by which your total medical care expenses for the year exceed 7.5% of your adjusted gross income.

This effectively wiped out the bulk of the medical deduction for most of the middle class, resulting in an average tax increase of around 50%. It was the single biggest negative change in the history of class disparity in America. It destroyed what was once called the middle-class.

As for investors of property, no "loophole" was closed.

One of the largest tax breaks for owners of investment property comes in the form of depreciation, or the loss in value of a property over time due to physical deterioration. The U.S. Internal Revenue Service (IRS) allows owners to take a tax loss every year based on this depreciation over the useful life of the asset, known as the cost-recovery period. This option can reduce their taxable income by thousands of dollars each year.

From Depreciation of Investment Property - InterNACHI http://www.nachi.org/depreciation-investment-property.htm#ixzz23d1AwbDL

 

[blazerboy30]

You don't like the way he talks and the words he chooses. Got it.

barfo

His words are very carefully chosen. And they are chosen to continue and worsen the class warfare he's started, and it is completely irresponsible.

 

[blazerboy30]

Obama is correct. The government is us and nothing but us. Therefore all the money (which only exists because the government prints it) is ours, and therefore all the money is the government's.

And by us I mean all of us, not just 1% of us.

And yes Denny, you are very fortunate indeed to be a part of us.

Please don't group yourself with me. Thanks.

 

[chris_in_pdx]

What money the government TAKES from us is stolen from us at gunpoint. Period.

Then please feel free to leave this country and go somewhere where this is not the case. I'm sure you'll love it there.

 

[blazerboy30]

Then please feel free to leave this country and go somewhere where this is not the case. I'm sure you'll love it there.

Do you have a job? I've never seen so much whining and bitching from somebody about how much everybody else has and how nobody is taking care of poor-little-you. Get off your ass, get a job and stop whining. Damn.

 

[Denny Crane]

You're wrong on all counts, except graft. Graft exists in all large organizations, but much more in the post-Reagan government because he opened the floodgates to private-sector government contractors.

Pre-Reagan ALL medical was deductible, now the bottom end is taxed.

You may deduct only the amount by which your total medical care expenses for the year exceed 7.5% of your adjusted gross income.

This effectively wiped out the bulk of the medical deduction for most of the middle class, resulting in an average tax increase of around 50%. It was the single biggest negative change in the history of class disparity in America. It destroyed what was once called the middle-class.

As for investors of property, no "loophole" was closed.

One of the largest tax breaks for owners of investment property comes in the form of depreciation, or the loss in value of a property over time due to physical deterioration. The U.S. Internal Revenue Service (IRS) allows owners to take a tax loss every year based on this depreciation over the useful life of the asset, known as the cost-recovery period. This option can reduce their taxable income by thousands of dollars each year.

From Depreciation of Investment Property - InterNACHI http://www.nachi.org/depreciation-investment-property.htm#ixzz23d1AwbDL

Medical expenses are included in a different deduction.

As far as real estate deductions go, you can only deduct $25K a year in passive losses from investment properties. And for the 1% you hate so much, they don't even get to deduct that much, if anything at all.

http://www.irs.gov/businesses/small/article/0,,id=146325,00.html

Rental real estate losses up to $25,000 may be deducted by an individual whose modified adjusted gross income (MAGI) is less than $100,000[7]. To qualify for this offset, the taxpayer must actively participate, own at least 10 percent and not be a limited partner. The $25,000 exception is phased out at the rate of 50 cents for every dollar of MAGI over $100,000. Therefore, when MAGI exceeds $150,000, the $25,000 offset is not allowed.

 

[Haakzilla]

Therefore all the money (which only exists because the government prints it) is ours, and therefore all the money is the government's..

...to be fair, the government does not print money. They borrow it from the Federal Reserve, a privately owned and unregulated BANK, as debt that US citizens are now responsible for paying back in the form of "illegal" taxes! I am sure that JFK would not have been assassinated, had he not signed Executive Order 11110 to essentially eliminate the Federal Reserve.

 

[Denny Crane]

https://www.fbo.gov/index?s=opportu...88a3301e5&tab=core&_cview=0&fb_source=message

IRS soliciting for a contractor to provide them with 174,000 rounds of “.357 Sig 125 grain bonded jacketed hollow point pistol ammunition.

They're coming for you, barfo.

 

[barfo]

https://www.fbo.gov/index?s=opportu...88a3301e5&tab=core&_cview=0&fb_source=message

IRS soliciting for a contractor to provide them with 174,000 rounds of “.357 Sig 125 grain bonded jacketed hollow point pistol ammunition.

They're coming for you, barfo.

It's not me they'd be coming after. I pay my taxes.

Mitt Romney, on the other hand, is probably worried.

barfo

 

[barfo]

I am sure JFK would be here today, had he not signed Executive Order 11110 to essentially eliminate the Federal Reserve.

You are sure he'd have lived to be 95 years old?

barfo