Obama now taxing Social Security,What next ? Death Tax ? Inheritance tax ? Yep

Posted in the Denver Forum

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Since: Oct 12

If you want the Real story.

#2 Nov 26, 2012
The Real Reason Obama Got Elected

Here’s an interesting plot twister; Republicans made the assumption, incorrectly as it turns out, that voters in states with high-unemployment would kick the bums out. That is, that they’d vote Obama out of office and try to find someone who could solve the jobs problem in this country.

Turns out, the opposite has happened. Voters in high-unemployment states actually like the president, and the reason is obvious; the Federal Government is paying the jobless, extending unemployment benefits, food stamps, and even underwriting disability payments from Social Security.

Think we’re different from the Europeans? Think again. The proportion of Greek men in their 30’s that are working is higher than the proportion of men who work in the United States. That’s what this election was all about. People voted for free stuff, free money, and free benefits. A chicken and health care in every pot.

It’s not just the people who lost money in the recession who are hooked on government money. The total number of people getting government money are rising. In fact, most of what you suspect about entitlements may be wrong. If you think the proportion of people getting government benefits has been stable over time, think again. In 1983, less than 30% of us got help. Today, it’s 49%.

If you think Democrats alone are responsible for entitlement spending, you’d be mistaken. In the last half- century, entitlement spending has grown faster under Republican presidents than Democratic ones.

Think transfers are a small part of the Federal Government’s budget? Wrong, wrong, and wrong. Until 1960, government transfers were less than a third of the budget. Today, it’s two-thirds of federal spending. That leaves just one out of every three dollars for things like defense spending.

So here’s where we are; nearly 200 years after Francis Scott Key penned the national anthem and immortalized the phrase,“Land of the Free.” We’ve become just that, but not in the way we quite expected.

We’re the land of the free because an increasing number of us are getting a free ride. That, my friends, is not the American way.

Read more: http://www.foxbusiness.com/on-air/willis-repo ...

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dognes

Pittsburgh, PA

#3 Nov 26, 2012
youtube.com/watch... … It depends on the income'
--
You will have to pay federal taxes on your Social Security benefits if you file a federal tax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to pay taxes if you and your spouse have a total income of more than $32,000.

Use the Internal Revenue Service (IRS) Notice 703 shown on the back of the Social Security Benefit Statement, SSA Form 1099, to determine if any of your benefits may be taxable.

“Invisible Pink Unicorn”

Since: May 08

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#4 Nov 26, 2012
Only the rich

“Listen up !”

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Since: Oct 12

If you want the Real story.

#5 Nov 26, 2012
Jammercolo wrote:
Only the rich
The rich can always shut down and leave the country until obama is ousted ya know.

They can afford to not do squatly for a couple years.

Im sure all of them are trying to figure out what to do right now to get their money out of the reach of obama.

I know many people pulling out their investments and taking precautions to not trust the government to not take their money.

Id go hide mine on my Island for a few years..

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What-

United States

#6 Nov 26, 2012
They need to lift the cap on taxable social security income. Isn't the cap around 100k? After that you don't pay social security taxes on your income. That loophole needs to be changed.

“The (R)ich Party Lies!”

Since: Jan 10

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#7 Nov 26, 2012
What- wrote:
They need to lift the cap on taxable social security income. Isn't the cap around 100k? After that you don't pay social security taxes on your income. That loophole needs to be changed.
I agree.

For the starter of this thread, President Obama doesn't have the power to tax. Only Congress has that power.

You must have skipped school the day they covered that in Civics class? As usual I'm always here to enlighten you..lol.

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