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Thread: Romney Talks of Ending Some Tax Deductions for Wealthy

  1. #21
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    [QUOTE=chiefst2000;4443878]So you missed it when Paul Ryan actually passed a budget which included a 10 year blueprint for balancing the budget and reforming entitlements? Or did you miss it when (D) Connors in the Senate has a press conference last Tuesday that he would be bringing a budget to a vote in the Senate, then on Thursday under tremendous pressure from Harry Reid and his fellow Democrats he changed his mind?[/QUOTE]

    Ummmm,,, I was talking about Mitts plans. But thanks.

  2. #22
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    [QUOTE=chiefst2000;4443891]Here is how government is supposed to work. The House passes a budget, sends it to the Senate. The Senate then takes up the bill and makes their amendments. Back and fourth until there is an agreement.

    So far we have the following the past two years in a row. House passes a budget with bipartisan support. They send the bill to the Senate. Harry Reid tables the bill and does not allow debate or a vote. End of story.[/QUOTE]

    You seriously going to argue Ryan's budget had bipartisan support?

  3. #23
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    [QUOTE=cr726;4443982]You seriously going to argue Ryan's budget had bipartisan support?[/QUOTE]

    You seriously going to argue that the House of representatives isn't the most democratic body in our government structure. Harry Reid represents who exactly that he can prevent a vote? Nevada is one of the least populated States in the Union.

  4. #24
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    [QUOTE=Winstonbiggs;4444002]You seriously going to argue that the House of representatives isn't the most democratic body in our government structure. Harry Reid represents who exactly that he can prevent a vote? Nevada is one of the least populated States in the Union.[/QUOTE]

    Was Ryan's bill supported by both parties?

  5. #25
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    [QUOTE=cr726;4443982]You seriously going to argue Ryan's budget had bipartisan support?[/QUOTE]

    The changes to his Medicare plan vs the plan from last year were conceived between Ryan and D Senator Ron Wyden. It was a bipartisan compromise.

  6. #26
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    [QUOTE=chiefst2000;4444172]The changes to his Medicare plan vs the plan from last year were conceived between Ryan and D Senator Ron Wyden. It was a bipartisan compromise.[/QUOTE]

    Yet Scott Brown a fellow Repub wont and didn't support it

  7. #27
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    [QUOTE=cr726;4444230]Yet Scott Brown a fellow Repub wont and didn't support it[/QUOTE]

    Do you know how many votes Obama's budget's have recieved over the past two years? If you add up the totals from the house and Senate over for the past two Obama budget proposals you get a grand total of









    wait for it









    wait for it









    wait for it








    Zero Votes

  8. #28
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    Oh ok now we are now starting a new point?


    [QUOTE=chiefst2000;4444248]Do you know how many votes Obama's budget's have recieved over the past two years? If you add up the totals from the house and Senate over for the past two Obama budget proposals you get a grand total of









    wait for it









    wait for it









    wait for it








    Zero Votes[/QUOTE]

  9. #29
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    [QUOTE=chiefst2000;4443889]I hate to say it but if you are retired and earning salary in retirement over 200K you shouldn't get the same benefits as someone that is retired with no income. In a perfect world these programs would have been lockbox programs but in reality they are not. Politicians broke their promises as they always do. I would be for raising the retirement ages for all younger workers including myself. I would also favor means testing for retiree benefits. Romney, Ryan and Simpson Bowles all agree on these points. The reality is that there is no other way to fix this thing.

    I don't personally have a problem with the income tax code as it is today. I would like to keep things as they are. I prefer the progressive tax code. The issue for me is that those folks not only don't pay taxes but they take more and more services from the government. Liberals in government work hard to define poverty at higher and higher levels capturing more and more people in the net. Thats why we have almost 150 million americans today on some form of government assistance. That is a staggering number. When almost half of the people in a country are on govt assistance we are headed on a path of decline.[/QUOTE]


    I am retired for a number of years now. Still under 65. Do not yet have IRA/401K income. No salary. No pension. My income is totally from dividends, some minor capital gains.
    I and my wife will be taxed HEAVILY on our SS. Why should the number be further reduced? I will pay MORE for by Medicare.
    All SS and Medicare recipients are already means tested by virtue of the fact that benefits are either taxed or charged at a higher rate. My income is taxed at a higher rate than many (some pay nothing). Granted dividends are taxed at 15% but some income on bonds is considered interest (that's BS) and taxed at the maximum rate.
    Sorry, I am doing my part. And then some.

  10. #30
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    [QUOTE=palmetto defender;4444291]I am retired for a number of years now. Still under 65. Do not yet have IRA/401K income. No salary. No pension. My income is totally from dividends, some minor capital gains.
    I and my wife will be taxed HEAVILY on our SS. Why should the number be further reduced? I will pay MORE for by Medicare.
    All SS and Medicare recipients are already means tested by virtue of the fact that benefits are either taxed or charged at a higher rate. My income is taxed at a higher rate than many (some pay nothing). Granted dividends are taxed at 15% but some income on bonds is considered interest (that's BS) and taxed at the maximum rate.
    Sorry, I am doing my part. And then some.[/QUOTE]

    Are you sure that Dividends and Cap gains count towards ordinary income that increases your brackets for SS tax purposes? Do you have any deductions at all? Even the standard 22K deduction should eliminate any taxes on SS.

  11. #31
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    [QUOTE=FF2®;4443931]Ummmm,,, I was talking about Mitts plans. But thanks.[/QUOTE]

    So you missed it when Romney said he supports the Cut,Cap and Balance plan as well as the Ryan budget blueprint?

  12. #32
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    [QUOTE=chiefst2000;4444312]Are you sure that Dividends and Cap gains count towards ordinary income that increases your brackets for SS tax purposes? Do you have any deductions at all? Even the standard 22K deduction should eliminate any taxes on SS.[/QUOTE]


    I have a pretty good accountant and he's honest. Catch this. Even income from my TAX FREE municipal bonds counts toward my income for SS purposes. That income in itself is not taxable but it counts as income for calculation purposes.
    The standard deduction is going to be around 14K next year add 8K for personal exemptions = 22K. Not a major help.
    If the Bush tax cuts expire I have a 160% tax increase. Guess who'll be moving more into tax frees.

  13. #33
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    [QUOTE=palmetto defender;4444346]If the Bush tax cuts expire I have a 160% tax increase.[/QUOTE]

    It's a good thing that communist didn't allow that to happen. You'd have to resort to running drugs with your yacht :P

  14. #34
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    [QUOTE=PlumberKhan;4444388]It's a good thing that communist didn't allow that to happen. You'd have to resort to running drugs with your yacht :P[/QUOTE]


    The communist does want that to happen FOR ME.
    I have a nice boat BUT, there is a major Coast Guard base here, plus Navy plus maritime police. Not much on the water crime except speeding. And underage drinking. LOL

  15. #35
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    [QUOTE=chiefst2000;4444317]So you missed it when Romney said he supports the Cut,Cap and Balance plan as well as the Ryan budget blueprint?[/QUOTE]

    "When it became clear that questions from the news media about Mr. Romney’s remarks at the Florida fund-raiser would dominate the conference call, an aide to Mr. Romney ended the session after three questions."

    Why not share EVERYTHING with the voters? :confused:

  16. #36
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    [QUOTE=palmetto defender;4444346]I have a pretty good accountant and he's honest. Catch this. Even income from my TAX FREE municipal bonds counts toward my income for SS purposes. That income in itself is not taxable but it counts as income for calculation purposes.
    The standard deduction is going to be around 14K next year add 8K for personal exemptions = 22K. Not a major help.
    If the Bush tax cuts expire I have a 160% tax increase. Guess who'll be moving more into tax frees.[/QUOTE]

    Would you agree that the Obama administrations push to increase taxes on Dividends and Interest, alongside their removal of 500 Billion from the Medicare fund, alongside their artificial reduction in interest rates (penalizing seniors that rely on fixed returns) alongside their conscious choice to reduce medicare payments to doctors (reducing healthcare quality for current retirees) rather then deal with the structural problems with the program, constitutes a "War on the Elderly" being waged by the Obama administration?

  17. #37
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    [QUOTE=chiefst2000;4444467]Would you agree that the Obama administrations push to increase taxes on Dividends and Interest, alongside their removal of 500 Billion from the Medicare fund, alongside their artificial reduction in interest rates (penalizing seniors that rely on fixed returns) alongside their conscious choice to reduce medicare payments to doctors (reducing healthcare quality for current retirees) rather then deal with the structural problems with the program, constitutes a "War on the Elderly" being waged by the Obama administration?[/QUOTE]


    It is a major war on the elderly. I will survive with no problem because I have substantial assets. Many elderly will take a bad beating. Medicare needs some revision. Let's ge the fraud out and severly punish offenders.
    Obama is pandering to young people. Tons of education money for college loans (and freebies) so our youth can take more worthless trash like women's studies, black studies, painting, and the like. Trash which will leave them unprepared for anything.
    If you don't have the money for college, don't go. Or have daddy go to the bank and get a loan with collateral. No collateral - no loan - no college. Be a carpenter. Or drive a truck.. Or be a soldier.

  18. #38
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    [QUOTE=cr726;4444036]Was Ryan's bill supported by both parties?[/QUOTE]

    In a word who cares? When the Democrats had a majority they passed Health care. The way this should work is when there isn't a majority both parties submit a budget and compromise.

    While the Ryan budget is a complete joke it has a distinct advantage to the Democratic budget, it actually exist and it has the support of the majority of the House which is an elected body and the most democratic body in our country.

    If the democrats want a bipartisan budget they would actually have to have a budget. They way compromise is reached is through competing budgets that are modified to win support by both sides.

    Support by both parties doesn't make any legislation bipartisan or meaningful. We need budgets and we need a process to get them. The Democrats have refused to be apart of the process. The joke is they are running on a platform of Republican obstruction.

  19. #39
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    Ok, I was asking a question to someone who stated it was bipartisan backed plan.

    Is the main issue the GOP refusing to even discuss tax increases?

    [QUOTE=Winstonbiggs;4444510]In a word who cares? When the Democrats had a majority they passed Health care. The way this should work is when there isn't a majority both parties submit a budget and compromise.

    While the Ryan budget is a complete joke it has a distinct advantage to the Democratic budget, it actually exist and it has the support of the majority of the House which is an elected body and the most democratic body in our country.

    If the democrats want a bipartisan budget they would actually have to have a budget. They way compromise is reached is through competing budgets that are modified to win support by both sides.

    Support by both parties doesn't make any legislation bipartisan or meaningful. We need budgets and we need a process to get them. The Democrats have refused to be apart of the process. The joke is they are running on a platform of Republican obstruction.[/QUOTE]

  20. #40
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    [QUOTE=cr726;4444527]Ok, I was asking a question to someone who stated it was bipartisan backed plan.

    Is the main issue the GOP refusing to even discuss tax increases?[/QUOTE]

    What does that have to do with the Democrats actually having a budget? Without a budget how can you have any kind of intelligent discussion about taxes and revenue.

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