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Thread: The Fiscal Cliff

  1. #41
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    Quote Originally Posted by menmon View Post
    Just need to let the tax cuts expire....that way everyone pays part of the bill and don't have to kiss some republicans ass to get it.
    that is a very good point

  2. #42
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    I'm fine if everything expires. That would make me very happy as that stupid socialist refundable child credit started by Bush and increased by Obama would finally be gone.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

  3. #43
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    Quote Originally Posted by luvmylabs23139 View Post
    I'm fine if everything expires. That would make me very happy as that stupid socialist refundable child credit started by Bush and increased by Obama would finally be gone.
    What is the child credit you so despise? If it is the one that parents use to offset their childcare expenses so they can work, what's wrong with it?

  4. #44
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    Quote Originally Posted by murral stark View Post
    What is the child credit you so despise? If it is the one that parents use to offset their childcare expenses so they can work, what's wrong with it?
    NO, the one that besides claiming them as a dependent you now get to knock $1000 bucks per kid off of your tax liability. And get this if it results in a negative tax liability the gov't sends the parents a check courtesy of the actual taxpayers.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

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    Quote Originally Posted by luvmylabs23139 View Post
    NO, the one that besides claiming them as a dependent you now get to knock $1000 bucks per kid off of your tax liability. And get this if it results in a negative tax liability the gov't sends the parents a check courtesy of the actual taxpayers.
    You obiously don't have kids. $1000 is nothing when it comes to the overall expense of providing for a child. Many years ago you could deduct 100% of your childcare expenses off of your income tax. Now, based on you income, you can only deduct a percentage of your childcare expenses (daycare). So if you spend $3000 per year to have someone take care of your child while you work, you get to deduct a small percentage off your taxes.

  6. #46
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    Quote Originally Posted by murral stark View Post
    You obiously don't have kids. $1000 is nothing when it comes to the overall expense of providing for a child. Many years ago you could deduct 100% of your childcare expenses off of your income tax. Now, based on you income, you can only deduct a percentage of your childcare expenses (daycare). So if you spend $3000 per year to have someone take care of your child while you work, you get to deduct a small percentage off your taxes.
    Uh, the still get to claim them as a dependent!!!! Why the heck should I be subsidizing their choice to have kids??? And a refundable check from the taxpayer???? PURE SOCIALISM!!!
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

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    Quote Originally Posted by luvmylabs23139 View Post
    Uh, the still get to claim them as a dependent!!!! Why the heck should I be subsidizing their choice to have kids??? And a refundable check from the taxpayer???? PURE SOCIALISM!!!
    And Romney is able to write off $77,000 for Ann's horse, why the heck should a billionaire be able to write off $77,000 horse a horse

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    Quote Originally Posted by luvmylabs23139 View Post
    Uh, the still get to claim them as a dependent!!!! Why the heck should I be subsidizing their choice to have kids??? And a refundable check from the taxpayer???? PURE SOCIALISM!!!
    Do you claim all of your dependants on your w-4? Why do you have such a problem with people legally working the tax system. If it is a legal deduction, the're not doing anything wrong. I don't think Romney, and others of his wealth should only pay 15% on capital gains. It is income and should be taxed as such.

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    Quote Originally Posted by mngundog View Post
    And Romney is able to write off $77,000 for Ann's horse, why the heck should a billionaire be able to write off $77,000 horse a horse
    That's ok though because he is rich, and should be treated like royalty, and get to benefit from the tax loopholes, just not the peasants.

  10. #50
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    Here is a math 101 on the debt. We now in have $16.5 T in debt (that's $146,000 per American household by the way) and it's expected to rise to over $22 T at the end of Obama's term ,(that's $196 K per house hold) Since our government has no desire to quit spending where does it end.? How does it end? Currently they spend $9 B a day and $4 B of that is borrowed raising taxes on the top 2% gets you $6 B annually or 1 1/2 days borrowing . Now just ask your self, since our government has no desire to quit spending we must therefore borrow and how long can we borrow? Can we borrow $200 K a household? $250 K a house hold, will the Japanese, Chinese and American people continue to lend our government money at $300K a household .what is the credit card limit? Truth is we're broke and they are searching for a straw man. BTW you can depreciate a horse, I believe over 5 years, if you your hobby good enough to become a business.

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