Thomas

Douglasville, GA

#1 Jan 2, 2013
Big win for the middle class. Get to keep Child Tax Credit, and Earned Income Credit. Also, as a small business owner i feel blessed to know my payroll taxes arent being hiked up to 25%. What a blessing this deal is.

Proud of the Dems and the Republicans on working together!!

Here are some key points of the deal:

• Income tax rates: Extends decade-old tax cuts on incomes up to $400,000 for individuals,$450,000 for couples. Earnings above those amounts will be taxed at a rate of 39.6 percent, up from the current 35 percent. Extends Clinton-era caps on itemized deductions and the phase-out of the personal exemption for individuals making more than $250,000 and couples earning more than $300,000.

• Estate tax: Estates will be taxed at a top rate of 40 percent, with the first $5 million in value exempted for individual estates and $10 million for family estates. In 2012, such estates were subject to a top rate of 35 percent.

• Capital gains, dividends: Taxes on capital gains and dividend income exceeding $400,000 for individuals and $450,000 for families will increase from 15 percent to 20 percent.

• Alternative minimum tax: Permanently addresses the alternative minimum tax and indexes it for inflation to prevent nearly 30 million middle- and upper-middle income taxpayers from being hit with higher tax bills averaging almost $3,000. The tax was originally designed to ensure that the wealthy did not avoid owing taxes by using loopholes.

• Other tax changes: Extends for five years Obama-sought expansions of the child tax credit, earned income tax credit, and an up to $2,500 tax credit for college tuition. Also extends for one year accelerated "bonus" depreciation of business investments in new property and equipment, a tax credit for research and development costs and a tax credit for renewable energy such as wind-generated electricity.

• Unemployment benefits: Extends jobless benefits for the long-term unemployed for one year.

• Cuts in Medicare reimbursements to doctors: Blocks a 27 percent cut in Medicare payments to doctors for one year. The cut is the product of an obsolete 1997 budget formula.

• Social Security payroll tax cut: Allows a 2 percentage point cut in the payroll tax first enacted two years ago to lapse, which restores the payroll tax to 6.2 percent.

• Across-the-board cuts: Delays for two months $109 billion worth of across-the-board spending cuts set to start striking the Pentagon and domestic agencies this week. Cost of $24 billion is divided between spending cuts and new revenues from rules changes on converting traditional individual retirement accounts into Roth IRAs.



Fed up

Lithia Springs, GA

#2 Jan 2, 2013
Big loss for us all. Nothing in this bill repairs the damage done by our federal government. Why do we need to give Hollywood 248 million bucks? We have to pay for that. I don't want my hard earned money going to pay for movies to be made, then have to pay to see said movie. Actors are way over paid for the crap they do.

I'm sure there are several other little nuggets in this bill that are just as infuriation. The sooner the uninformed and uneducated in this country wake up and smell the coffee the better. I just don't think that will happen. And those people obviously vote :(
bowwow

Douglasville, GA

#3 Jan 2, 2013
I'm sure in a month or two you will realize the the Social Securty payroll tax cut you are bragging about will actually be an increase from the current 4.2% to 6.2%. Your paycheck will be less and you will be wondering why.

Since: Nov 11

Location hidden

#4 Jan 2, 2013
Lets all just pay our way out of this debt. Each American owes how much,$50,000 or so, right? Put me on a payment plan to pay off my loan over the next 10 years. I'll happily do that and then we'll be out of debt. Agree, disagree??
Fed up

Lithia Springs, GA

#5 Jan 2, 2013
Blue Vase wrote:
Lets all just pay our way out of this debt. Each American owes how much,$50,000 or so, right? Put me on a payment plan to pay off my loan over the next 10 years. I'll happily do that and then we'll be out of debt. Agree, disagree??
If we, as citizens agree, our government will just run the debt right back up. They have no conscience when it comes to spending other people's money.
Thomas

Douglasville, GA

#6 Jan 2, 2013
bowwow wrote:
I'm sure in a month or two you will realize the the Social Securty payroll tax cut you are bragging about will actually be an increase from the current 4.2% to 6.2%. Your paycheck will be less and you will be wondering why.
Actually,if you read my posting,I am the business owner, I pay 4.2% now. It was slated to go up to 25% if they did not make a deal. Well it only went to 6.2%, which is the level it was at in 2000. There is a HUGE difference in 4.2 and 25 %... So yes i am very thankful that i was spared that blow.

Also good news for middle class families; child tax credit stays, earned income credit stays, college tuition credit stays.

Dually noted is the fact that i have a 23 year old finishing her education at The University of West Ga. Thanks to the POTUS she can stay on my insurance until she is 28,as long as she remains in school. Thank god because she could not afford it otherwise. Does that make her a user of the system??? Is she now lumped into categories like welfare familes are thrown in because they hit hard times???
runninghot

Douglasville, GA

#7 Jan 2, 2013
Seems to me that most of you get what is going on but don't have the will or guts to face the truth. The truth is this country is broke. We must pay off our debt and the sooner the better. The longer we wait the harder it will be to pay it off. Someday we will be bankrupt and our money will be worthless. It will then be too late and we will not be able to pay it off. Is that what we are waiting for?
No one wants higher taxes or cuts to their benefits. It is something that must be done to survive. It is the same thing as going on a special diet and losing 40 pounds to save your life by preventing a for sure predicted heart attack.

Since: Jul 07

Douglasville

#8 Jan 2, 2013
Well at lease Puerto Rum got a deal, as did Hollywood (big surprise there, with Obama supporters being from there), and there is a good ol' boy discount for Nascar as well! Got to pass it to see what's in it!

Since: Nov 11

Location hidden

#9 Jan 2, 2013
runninghot wrote:
Seems to me that most of you get what is going on but don't have the will or guts to face the truth. The truth is this country is broke. We must pay off our debt and the sooner the better. The longer we wait the harder it will be to pay it off. Someday we will be bankrupt and our money will be worthless. It will then be too late and we will not be able to pay it off. Is that what we are waiting for?
No one wants higher taxes or cuts to their benefits. It is something that must be done to survive. It is the same thing as going on a special diet and losing 40 pounds to save your life by preventing a for sure predicted heart attack.
You totally get it! Nice to see that someone does

Since: Aug 09

Villa Rica

#10 Jan 3, 2013
Would've been better just to go over the so called "cliff". This is a terrible deal. No real spending cuts, which is what the country needs. More revenue is useless unless spending gets cut drastically. The cliff would've done that. As for the payroll tax Thomas, it reverted back to 6.2% from 4%. It was never at 25%, and it wasn't going up to 25%. I hope someone else does your payroll and taxes, because your lack of knowledge on these issues is frightening if you really are a small business owner.

Since: Sep 09

United States

#11 Jan 3, 2013
Thomas wrote:
<quoted text>
Actually,if you read my posting,I am the business owner, I pay 4.2% now. It was slated to go up to 25% if they did not make a deal. Well it only went to 6.2%, which is the level it was at in 2000. There is a HUGE difference in 4.2 and 25 %... So yes i am very thankful that i was spared that blow.
Also good news for middle class families; child tax credit stays, earned income credit stays, college tuition credit stays.
Dually noted is the fact that i have a 23 year old finishing her education at The University of West Ga. Thanks to the POTUS she can stay on my insurance until she is 28,as long as she remains in school. Thank god because she could not afford it otherwise. Does that make her a user of the system??? Is she now lumped into categories like welfare familes are thrown in because they hit hard times???
A true follower of the pied piper LOL!

Since: Jul 12

Douglasville, GA

#12 Jan 3, 2013
Well, I see that it all worked out just as I
predicted over a month or so ago
Republicans are Republicans in name only. It is a one party system disguised as a two party system. They still give the Democrats what they want. Why have two parties if both are going to be the same. This has been going on for a long time now so we shouldn't be surprised. We have liberal Democrats and liberal Republicans which mean the voters get nothing but empty promises for wasting our time voting for them. That is if you vote Republican.

Since: Aug 09

Villa Rica

#13 Jan 3, 2013
Thomas wrote:
<quoted text>
Actually,if you read my posting,I am the business owner, I pay 4.2% now. It was slated to go up to 25% if they did not make a deal. Well it only went to 6.2%, which is the level it was at in 2000. There is a HUGE difference in 4.2 and 25 %... So yes i am very thankful that i was spared that blow.
Also good news for middle class families; child tax credit stays, earned income credit stays, college tuition credit stays.
Dually noted is the fact that i have a 23 year old finishing her education at The University of West Ga. Thanks to the POTUS she can stay on my insurance until she is 28,as long as she remains in school. Thank god because she could not afford it otherwise. Does that make her a user of the system??? Is she now lumped into categories like welfare familes are thrown in because they hit hard times???
First of all, its 26(do you comprehend the things you read or just repeat liberal talking points?) and yes, if she's 26 and still living at home she's a "user" as you call it. Grow up, get a 2nd or 3rd job and provide for yourself. By the time I was 26 I had been married for 5 years and working for 10. There are jobs out there to be had if you want to work.
Fed up

Lithia Springs, GA

#14 Jan 4, 2013
My parents raised me to act as an adult when I became an adult. I had my own medical insurance by age 19. They also taught me to never take a hand out from the government. That it is considered embarrassing for a strong and intelligent adult to do so. The government isn't there to take care of you. The role of federal government is to provide an infrastructure and protect us from outside danger. That's it!

Since: Mar 11

Location hidden

#15 Jan 4, 2013
Unless their parents are getting health insurance from the government I don’t understand who they are using. If you are paying for your own health insurance and you want to pay your child way until they are 30 I really don’t care. I think it’s crazy as hell but your money, your child, your problem.

It’s not a government hand out unless the government is paying for it. If mommy and daddy are paying for it,then it falls into the none of my damn business category.

Since: Jul 12

Douglasville, GA

#16 Jan 4, 2013
runninghot wrote:
Seems to me that most of you get what is going on but don't have the will or guts to face the truth. The truth is this country is broke. We must pay off our debt and the sooner the better. The longer we wait the harder it will be to pay it off. Someday we will be bankrupt and our money will be worthless. It will then be too late and we will not be able to pay it off. Is that what we are waiting for?
No one wants higher taxes or cuts to their benefits. It is something that must be done to survive. It is the same thing as going on a special diet and losing 40 pounds to save your life by preventing a for sure predicted heart attack.
Just tell me anyone that wants to give up their Oreos and milk.
formerresident

Decatur, GA

#17 Jan 7, 2013
Children should not fear going to school, in the USA. It should be safe to study ABC's.

“Marble Man”

Since: Jul 11

Dallas, GA

#18 Jan 7, 2013
Thomas wrote:
Big win for the middle class. Get to keep Child Tax Credit, and Earned Income Credit. Also, as a small business owner i feel blessed to know my payroll taxes arent being hiked up to 25%. What a blessing this deal is.
Proud of the Dems and the Republicans on working together!!
Here are some key points of the deal:
• Income tax rates: Extends decade-old tax cuts on incomes up to $400,000 for individuals,$450,000 for couples. Earnings above those amounts will be taxed at a rate of 39.6 percent, up from the current 35 percent. Extends Clinton-era caps on itemized deductions and the phase-out of the personal exemption for individuals making more than $250,000 and couples earning more than $300,000.
• Estate tax: Estates will be taxed at a top rate of 40 percent, with the first $5 million in value exempted for individual estates and $10 million for family estates. In 2012, such estates were subject to a top rate of 35 percent.
• Capital gains, dividends: Taxes on capital gains and dividend income exceeding $400,000 for individuals and $450,000 for families will increase from 15 percent to 20 percent.
• Alternative minimum tax: Permanently addresses the alternative minimum tax and indexes it for inflation to prevent nearly 30 million middle- and upper-middle income taxpayers from being hit with higher tax bills averaging almost $3,000. The tax was originally designed to ensure that the wealthy did not avoid owing taxes by using loopholes.
• Other tax changes: Extends for five years Obama-sought expansions of the child tax credit, earned income tax credit, and an up to $2,500 tax credit for college tuition. Also extends for one year accelerated "bonus" depreciation of business investments in new property and equipment, a tax credit for research and development costs and a tax credit for renewable energy such as wind-generated electricity.
• Unemployment benefits: Extends jobless benefits for the long-term unemployed for one year.
• Cuts in Medicare reimbursements to doctors: Blocks a 27 percent cut in Medicare payments to doctors for one year. The cut is the product of an obsolete 1997 budget formula.
• Social Security payroll tax cut: Allows a 2 percentage point cut in the payroll tax first enacted two years ago to lapse, which restores the payroll tax to 6.2 percent.
• Across-the-board cuts: Delays for two months $109 billion worth of across-the-board spending cuts set to start striking the Pentagon and domestic agencies this week. Cost of $24 billion is divided between spending cuts and new revenues from rules changes on converting traditional individual retirement accounts into Roth IRAs.
The clueless and uneducated are absolutely hilarious!

Democrats who supported the president’s re-election just had NO idea that his steadfast pledge to raise taxes meant that he was really going to raise taxes. They thought he planned to just hit those filthy “1 percenters,” you know, the ones who earned fortunes through their inventiveness and hard work. They thought the free ride would continue forever.

http://www.washingtontimes.com/news/2013/jan/...

Since: Nov 12

Location hidden

#19 Jan 7, 2013
formerresident wrote:
Children should not fear going to school, in the USA. It should be safe to study ABC's.
Good point. Wrong thread. Wrong meds again?
sams

Douglasville, GA

#20 Jan 7, 2013
General Robert E Lee wrote:
<quoted text>
The clueless and uneducated are absolutely hilarious!
Democrats who supported the president’s re-election just had NO idea that his steadfast pledge to raise taxes meant that he was really going to raise taxes. They thought he planned to just hit those filthy “1 percenters,” you know, the ones who earned fortunes through their inventiveness and hard work. They thought the free ride would continue forever.
http://www.washingtontimes.com/news/2013/jan/...
Butch?

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