Romney Would Pay $5M Less A Year Under His Own Tax Plan

These numbers were agreed to by a bipartisan team.

http://www.freep.com/article/20120604/NEWS07/120604059/Romney-Obama-tax-plans-save-5-million-wealthy?odyssey=obinsite

Talk about self serving? No wonder he got a shit load of campaign donations. The top 5% of earners want their money, and know Romney will give it to them. So sad that we continue to reward greed.

S. 3187 Passes Senate Nearly Unanimously

S. 3187 forces drug/medical device buyers, to pay an extra tax ("user fee"), that is bundled up and sent back to Big PHARMA. It's a little over $600 Million over the next five years (this is actually just the tip of the Iceberg, they  give back alot more, but the actual "law" text amended by this,is hard to find). Considering that none of the drug/medical device companies are losing money (or paying taxes), this is just another way taxpayers fund Dividends on the companies stocks. Much like we do for Oil companies. So much for "free markets".

It also cuts $1.5 Million from Pediatric Device research, and Pediatric Drug research.  At least they screwed us across the aisle.

Swiss Signs Bank Deal With Austria

Shocker they can't get this done in the US, we coddle the rich. Why would we want taxes collected annomously on dividends? Austria will be taking in 25% on their nationals with Swiss accounts accruing dividends.

http://www.swissinfo.ch/eng/Specials/Rebuilding_the_financial_sector/Spotlight_on_banking_secrecy/Swiss_seal_Austrian_tax_deal_to_save_privacy_laws.html?cid=32477278
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New UK Tax Structure

They are doing exactly what Republicans want to do in the US. The UK cuts taxes on top earners, and pays for it by cutting benefits for retirees.

http://www.guardian.co.uk/uk/2012/mar/22/budget-2012-osborne-pensioners-granny-tax

The next election should be intersting. Hi Labour Party.

It's The Economy

I was just pondering where the economy is today, vice when I was a teenager. The top US earner's tax rate in 1975 was 70%. By the end of Ronald Reagan's first year, it was down to 50%. Ronny had it down to 28% by the time he left office (in a cloud of Alzheimer's fog). A reduction of 42% over 10 years, and the US saw the first big spike in debt. This debt should be Ronny's legacy. He set a standard.

In 1990 Clinton came in and bumped that rate on top earners up to 39.6%, and he balanced the budget over his 8 years. He didn't actually reduce the debt at all, because as soon as a surplus was apparent, Mitch McConnell stepped into the spotlight and peeped "They earned it, let them keep it".  The same thing he did late 2010.  So the rich get to keep that top rate at the 37% level set by George Bush in 2001. 

Debt has been rampant cince 2001, and letting the Bush tax cuts expire in 2013 will be a start at fixing this problem.  A full scrapping of the tax code will make this better, becuase the effective tax rate on top earners (as demonstrated bt Mitt Romney) is closer to 15%.

Dividend earnings should be taxed like any other income.  And in case you didn't know, anyone who says "broaden the base" wants to tax people at or near poverty.

Vatican To Lose Tax Exempt Status

http://www.bbc.co.uk/news/business-17072211

Since they all spew Political rhetoric in the US (like Abortion/Contraception/Gay matters) they should also lose tax-exempt status, that includes all "Christian" factions.

Palestine Smugglers Strike Over Hamas Taxes

http://www.al-monitor.com/cms/contents/articles/business/2012/02/smugglers-fed-up-with-hamas-taxe.html

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Proof The US Middle Class Is Being Fleeced

I was wondering which Congress (red is Pubs and blue is Dems) actually cut spending, and since 1980 (the Reagan years) these damn people have been stealing the wealth of the country, and sending it to the most wealthy. People are talking about the rich wanting a country of surfs and them. Like things were back in the dark ages. It's hard to say that this is not where we are headed?

Robin Hood Tax

A 1% tax on financial transactions? Sure, works for me. Just keep it away from Congress and pay it directly to lower the National Debt.

And if my 401K takes a 1% hit, no big deal, Wall Street does that on any given day anyway.
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Which Senators Won't Tax The Rich?

Well, all of the Republicans said no (as usual), but a couple Democrats did too. Senator Ben Nelson of Nebraska thinks rich people are taxed enough!

Ben's home, he's rich.

Jon Tester of Montana was the other one.  He has a big farm out in Big Sandy, Montana.  Jon is also rich.
Here's the vote record;http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=112&session=1&vote=00160 

If you notice Harry Reid also votes yes, it's because he has to do that so he can call up the bill again.

US Credit Rating

I was glad to hear about S&P threatening to downgrade the US credit rating.  It will force deeper cuts and the full expiration of the Bush tax cuts.  I can go back to the taxes under Clinton in a heartbeat...

Where To Get Some Revenue?

Oh, right, cut the Tax Exempt status for all Churches. Why not? They spend money on political campaigns, just like big business'.

http://www.examiner.com/examiner/x-31532-Modesto-Political-Issues-Examiner~y2010m2d23-Time-to-strip-tax-exempt-status-from-all-churches

Tea-Party??

I have been listening to the convention on and off today and I keep hearing a theme;
Socialist = Bad
Taxes = Bad
God = Good

By definition; The fact that churches collect taxes from members and use that money to help (after the Pope and Pope-lings) people in need. Is that not socialism??

By-line, I don't see any black people, not even a token.

Fixing California

I was reading Newt's Washington Examiner article and he tossed out the "big" problems in California; a $42 Billion budget shortfall. Um, that is not a big deal really. It works out to $1100 per person, per year.

If the people making more than $150K per year pay $2000, the people making less can probably only pay $800 and it would be a wash. It isn't rocket science guys. If you don't want to pay the taxes, you won't get the services. Go look at the roads in Michigan and see what that leads to.

So California votes down the tax increases on May 19th and the Governor in turn will close every State park he possibly can. That means a lot of workers will be laid off and will get unemployment or state aid.

It's crazy, if you want the services; water, trash, roads, parks...you have to pay for it. Why don't yo people examine all of the tax breaks your movie industry gets?? They pay no taxes and rake in billions.

Stripper Tax?

http://news.bbc.co.uk/2/hi/europe/7993694.stm

That's about $4 million dollars US. There are either a whole lot of these Swedish strippers, or they make a real good living!

Democrat Vs Republican Federal Taxes?

Well, I pulled out all of my Federal tax returns that I have and here is the breakdown;


Click to enlarge it.

It kind of speaks for itself doesn't it? I have never made more than $100 in a year ever, and close to 1/2 that some years. Hmm, who is "Redistributing The Wealth??".

I should mention that big hike in 2005 was me cashing out my 401K (because the US dollar was tanking and so was my retirement savings, yours too). I want to thank GW for taking such a big slice! My money is better off in a savings account though, no stock market crap involved and earning a meager 5%. My savings are safe :) How's yours?

Try this for yourself and send it to me please.