Tax Relief for All Americans - Page 2 - Mercedes-Benz Forum

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post #11 of 169 (permalink) Old 05-18-2006, 04:11 PM
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cool I am getting back a $1.50, that's my fair share and I am happy with it.
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post #12 of 169 (permalink) Old 05-18-2006, 05:18 PM
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Originally Posted by tiggerfink
I do not think the tax cuts are enough. I still pay a higher percentage and higher amount. I still do not understand if I want to give money to my mom, I have to pay a 49% gift tax.
I agree w/ you. They need to reduce taxes a lot more than they have! That will stimulate our economy even more. If you are really paying more and a higher % you must be doing very well. Feel good about that. I believe you can gift $10-15,000/year w/out any tax consequences--and if you are married, you can double that amount. Congratulations on your obvious success!

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post #13 of 169 (permalink) Old 05-18-2006, 05:22 PM
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Originally Posted by yoseyman
Tax cuts are a start. and yes more could be done.
I'm no economist but it seems to me Greenspan and now his clone bernanke have done everything they can to stop the one true industry that has carried a lot of the country, that is housing. continual rise of prime rate is directed right at the housing industry, and yes they have admitted that.
Housing was seriously over-heated, and the Fed may actually be doing us a favor. One of my businesses is rental properties, and I have been hit hard by the rate increase--or I should say my tenants will be hit hard. That is what they mean when they say "businesses do not pay taxes, people do."

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post #14 of 169 (permalink) Old 05-18-2006, 05:37 PM
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If you make $20K, relief = $3, $100K, relief = $1300, $1M, relief is $42,000.

work hard and be in the 1M income bracket... easy

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post #15 of 169 (permalink) Old 05-18-2006, 05:52 PM
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Originally Posted by Jayhawk
Housing was seriously over-heated, and the Fed may actually be doing us a favor. One of my businesses is rental properties, and I have been hit hard by the rate increase--or I should say my tenants will be hit hard. That is what they mean when they say "businesses do not pay taxes, people do."
I'll be honest no offence to those in the housing industry, but housing is bullshit wealth generation, in the sense that if your house is your biggest asset. We don't have capital gains here and what has been happening is that a massive bubble in the property market has happened. People finding their house is worth much more than before have been on a spending binge on borrowed credit, fine if you can afford to service the loans, people have been buying rentals, new cars etc with these loans, add to that a high dollar and then there is a binge on imported good as we import everything here. Now because inflation went to about 3% the reserve bank jacked up interest rates meaning the NZD went higher, people spent more and borrowed more now the AVERAGE household in NZ spends 113% of their income What was once easy and cheep credit is going to bite alot of people when their loans come off fixed interest in the next 18 months. Thank God the Fed in the states has managed to deal with it better than we have.
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post #16 of 169 (permalink) Old 05-18-2006, 06:35 PM
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If they were serious...

they'd close many of the rich fat-cat loopholes and everyone else would enjoy a substantial tax break.

Or of course we could fund more wars.
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post #17 of 169 (permalink) Old 05-18-2006, 06:49 PM Thread Starter
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Originally Posted by gregs210
they'd close many of the rich fat-cat loopholes and everyone else would enjoy a substantial tax break.

Or of course we could fund more wars.
There you go -- I'm all for tax breaks, who isn't? But as long as these jackasses in Washington keep spending money as if it wasn't their's, it's very difficult to rationalize. We need responsible people in charge who see value in substantially reducing the size of the federal government. That's the only proper way to lower the tax burden.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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post #18 of 169 (permalink) Old 05-18-2006, 07:17 PM
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I agree, the federal government is way too big and spends way too much money on stuff they're not supposed to (according to that pesky Constitution thing they keep swearing to uphold and defend, but apparently haven't read). Problem is, you can't elect anyone who'll actually do that. The Democrats want to make a program for everything, and the Republicans give lip service to reducing government, but ultimately grow it (albeit somewhat less).
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post #19 of 169 (permalink) Old 05-18-2006, 07:21 PM
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A viable third party might help to keep the self congratulatory dilettantes of both parties on their toes. It's supposed to be a system of checks and balances. Someone once remarked, "The one good thing that can be said about most politicians is, that thank god lack of character is not contagious." Cheerio, Teutone (aka Horst K)
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post #20 of 169 (permalink) Old 05-18-2006, 07:27 PM Thread Starter
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We no longer have a viable two-party system, not that a scant two parties are really sufficient anyway. We've been reduced to a one party system of Republicrats.

"If spending money you don't have is the height of stupidity, borrowing money to give it away is the height of insanity." -- anon
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