FACT: Your taxes will go up no matter who wins the election

[Snake Doctor]

if you make over 250K.

The reason is that the Bush tax cuts will expire in 2010.

There would be nothing a President McCain could do to stop this from happening. He can't change tax rates via executive order, and the Democratic majority doesn't have to worry about a veto...all they have to do is nothing, and rates will go back up to what they were during the Clinton administration.

So voting for McCain because you're against the tax increase for the top bracket is pretty pointless, because that rate is going to go up anyways.

[Doctor Dre]

It's either going to be taxes or inflation, but the gov will need to account for expenses somehow.

[V_RocKs]

It will happen to all because your money will be worth less because they will print more than they took in giving you less buying power.

[D Ghost]

true that

[dav3]

we will be bartering in pizzas and bicycle chain grease

[Darkland]

I thought that was a given... When did any president ever lower them? My only question is what is the ceiling? It can't continue to rise forever...

[pigman]

Taxes need to go up, question is just if the people or the companies will have to pay for it.

[polle54]

Originally Posted by Snake Doctor

if you make over 250K.

The reason is that the Bush tax cuts will expire in 2010.

There would be nothing a President McCain could do to stop this from happening. He can't change tax rates via executive order, and the Democratic majority doesn't have to worry about a veto...all they have to do is nothing, and rates will go back up to what they were during the Clinton administration.

So voting for McCain because you're against the tax increase for the top bracket is pretty pointless, because that rate is going to go up anyways.

How much is the top bracket?

Here in Denmark I have to pay 60% TAX of the money you make over $72.000.

So if I have a let's say $200k annual income I pay 60% to the state of the $128k and standard 45% of the $72k

I hardly think you guys have anything to bitch about

BUT on the contrary we dont have homeless people, free medical care for everyone and a social security system that in general works very well. But damn we pay for it

[Brujah]

Unless Denmark was awesome, that high taxation would act to send the wealthy out of Denmark wouldn't it?

[IllTestYourGirls]

Originally Posted by polle54

How much is the top bracket?

Here in Denmark I have to pay 60% TAX of the money you make over $72.000.

So if I have a let's say $200k annual income I pay 60% to the state of the $128k and standard 45% of the $72k

I hardly think you guys have anything to bitch about

BUT on the contrary we dont have homeless people, free medical care for everyone and a social security system that in general works very well. But damn we pay for it

How big is your army again?

[Snake Doctor]

Originally Posted by polle54

How much is the top bracket?

Here in Denmark I have to pay 60% TAX of the money you make over $72.000.

So if I have a let's say $200k annual income I pay 60% to the state of the $128k and standard 45% of the $72k

I hardly think you guys have anything to bitch about

BUT on the contrary we dont have homeless people, free medical care for everyone and a social security system that in general works very well. But damn we pay for it

Exactly.
Our top rate is currently 35%, under Obama's plan it would return to 39.6%, hardly an onerous rate....especially when you consider that social security taxes are capped at around 100K....so even though Obama wants to mess with that a little bit to fix the shortfall, the U.S. will still have some of the lowest taxes of any industrialized nation.
(You also have to remember that the 39.6% only applies to income above the 200K mark, if you make 200K you don't pay 39.6% on every dollar, just the dollars over 200k)

Originally Posted by Brujah

Unless Denmark was awesome, that high taxation would act to send the wealthy out of Denmark wouldn't it?

So goes the conservative theory....but it doesn't happen.
Also, look at it this way. They pay those taxes but don't have to pay health insurance premiums. The average policy for a family of 4 costs $12K per year in the U.S., and then you have to fight with them to pay for stuff, along with deductibles and copays and things like that.
If your company lays you off, unemployment benefits there are much more generous. Here they'll hardly pay for groceries for a family of 4.
Their state pension system (social security) is much better (more generous AND financially stable), so you don't have to save 10-20% of your money in a 401(k) for fear of living in poverty in your old age.
There are alot of other things you have to pay for here that are covered by the state there. So you can't really compare dollar for dollar taxes and take home pay, because they don't have to pay for nearly as much with their take home pay.

[KillerK]

Notice to All Employees

As of November 5, 2008, when President Obama is officially elected into office, our company will instill a few new policies which are in keeping with his new, inspiring issues of change and fairness:

1. All salespeople will be pooling their sales and bonuses into a common pool that will be divided equally between all of you. This will serve to give those of you who are under achieving a “fair shake.”
2. All production level workers will be pooling their wages, including overtime, into a common pool, dividing it equally amongst your selves. This will help those who are “too busy for overtime” to reap the rewards from those who have more spare time and can work extra hours.
3. All top management will now be referred to as “the government.” We will not participate in this “pooling” experience because the law doesn't apply to us.
4. The “government” will give eloquent speeches to all employees every week, encouraging its workers to continue to work hard “for the good of all.”
5. The employees will be thrilled with these new policies because it's “good to spread the wealth.” Those of you who have underachieved will finally get an opportunity; those of you who have worked hard and had success will feel more “patriotic.”
6. The last few people who were hired should clean out their desks. Don't feel bad, though, because President Obama will give you free healthcare, free handouts, free oil for heating your home, free food stamps, and he'll let you stay in your home for as long as you want even if you can't pay your mortgage. If you appeal directly to our democratic congress, you might even get a free flat screen TV and a coupon for free haircuts (shouldn't all Americans be entitled to nice looking hair?) !!!

[Brujah]

Originally Posted by KillerK

Notice to All Employees

As of November 5, 2008, when President Obama is officially elected into office, our company will instill a few new policies which are in keeping with his new, inspiring issues of change and fairness:

1. All salespeople will be pooling their sales and bonuses into a common pool that will be divided equally between all of you. This will serve to give those of you who are under achieving a ?fair shake.?
2. All production level workers will be pooling their wages, including overtime, into a common pool, dividing it equally amongst your selves. This will help those who are ?too busy for overtime? to reap the rewards from those who have more spare time and can work extra hours.
3. All top management will now be referred to as ?the government.? We will not participate in this ?pooling? experience because the law doesn't apply to us.
4. The ?government? will give eloquent speeches to all employees every week, encouraging its workers to continue to work hard ?for the good of all.?
5. The employees will be thrilled with these new policies because it's ?good to spread the wealth.? Those of you who have underachieved will finally get an opportunity; those of you who have worked hard and had success will feel more ?patriotic.?
6. The last few people who were hired should clean out their desks. Don't feel bad, though, because President Obama will give you free healthcare, free handouts, free oil for heating your home, free food stamps, and he'll let you stay in your home for as long as you want even if you can't pay your mortgage. If you appeal directly to our democratic congress, you might even get a free flat screen TV and a coupon for free haircuts (shouldn't all Americans be entitled to nice looking hair?) !!!

Who are you representing? I want to make sure I'm not promoting them.

[Doctor Dre]

Originally Posted by KillerK

Notice to All Employees

As of November 5, 2008, when President Obama is officially elected into office, our company will instill a few new policies which are in keeping with his new, inspiring issues of change and fairness:

1. All salespeople will be pooling their sales and bonuses into a common pool that will be divided equally between all of you. This will serve to give those of you who are under achieving a ?fair shake.?
2. All production level workers will be pooling their wages, including overtime, into a common pool, dividing it equally amongst your selves. This will help those who are ?too busy for overtime? to reap the rewards from those who have more spare time and can work extra hours.
3. All top management will now be referred to as ?the government.? We will not participate in this ?pooling? experience because the law doesn't apply to us.
4. The ?government? will give eloquent speeches to all employees every week, encouraging its workers to continue to work hard ?for the good of all.?
5. The employees will be thrilled with these new policies because it's ?good to spread the wealth.? Those of you who have underachieved will finally get an opportunity; those of you who have worked hard and had success will feel more ?patriotic.?
6. The last few people who were hired should clean out their desks. Don't feel bad, though, because President Obama will give you free healthcare, free handouts, free oil for heating your home, free food stamps, and he'll let you stay in your home for as long as you want even if you can't pay your mortgage. If you appeal directly to our democratic congress, you might even get a free flat screen TV and a coupon for free haircuts (shouldn't all Americans be entitled to nice looking hair?) !!!

Propaganda at it's finest... dumbass

[Kudles]

Thanks for the good news