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Thread: Obama plan for the Limousine industry

  1. #31
    Senior Member Wade Randolph's Avatar
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    Default RickE and Taxes

    Hey RickE if you want to pay more taxes nobody is stopping you. The IRS will gladly accept any extra contributions you libs want to pay!

  2. #32
    Super Moderator gunny's Avatar
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    Quote Originally Posted by Wade Randolph View Post
    Hey RickE if you want to pay more taxes nobody is stopping you. The IRS will gladly accept any extra contributions you libs want to pay!
    Come on now Wade, you know the Libs figure they can spend our customers money better than we can.

    I'm sure RickE's fleet sales are to operators who cater to the Walmart crowd.
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  3. #33
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    Default Obama's Tax Plan

    Quote Originally Posted by Wade Randolph View Post
    Hey RickE if you want to pay more taxes nobody is stopping you. The IRS will gladly accept any extra contributions you libs want to pay!
    Yesterday's NEWSDAY had a summary of Obama's tax plans as follows:

    ■ Cut taxes for 95% of workers and their families with a tax cut of $500 for workers or $1,000 for working couples.
    ■ Increase taxes for people making over $250,000 including capital gains. The current top income tax rate would go form 35% to 39%. Those making less then $250,000 will not see tax increases, though Obama has said that could change if the economy worsens.
    ■ Eliminate capital ains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of health care and to reward investments in innovation.
    ■ Simplify taxes by consolidating existing tax credits, eliminating the need for millions of senior citizens to file tax forms, and enabling as many as 40,000,000 middle class Americans to do their own taxes without an accountant.
    ----------------------------------------------------------------------------------------------------------------------------

    So Wade, where do you see your taxes going up? Unless you are part of those earning over $250,000/year after deductions, adjustments, write-offs, etc. then it doesn't effect you. (Remember, this is personal income tax and not business taxes.)

  4. #34
    Super Moderator gunny's Avatar
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    Quote Originally Posted by Rick E. View Post
    Yesterday's NEWSDAY had a summary of Obama's tax plans as follows:

    ■ Cut taxes for 95% of workers and their families with a tax cut of $500 for workers or $1,000 for working couples.
    ■ Increase taxes for people making over $250,000 including capital gains. The current top income tax rate would go form 35% to 39%. Those making less then $250,000 will not see tax increases, though Obama has said that could change if the economy worsens.
    ■ Eliminate capital ains taxes for small businesses, cut corporate taxes for firms that invest and create jobs in the United States, and provide tax credits to reduce the cost of health care and to reward investments in innovation.
    ■ Simplify taxes by consolidating existing tax credits, eliminating the need for millions of senior citizens to file tax forms, and enabling as many as 40,000,000 middle class Americans to do their own taxes without an accountant.
    ----------------------------------------------------------------------------------------------------------------------------

    So Wade, where do you see your taxes going up? Unless you are part of those earning over $250,000/year after deductions, adjustments, write-offs, etc. then it doesn't effect you. (Remember, this is personal income tax and not business taxes.)


    Tax Rates For New Yorkers Would Top 50% Under Obama
    'Significant Difference' Is Seen For High-Income Areas Like the City
    By JULIE SATOW, Staff Reporter of the Sun | July 18, 2008
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    New York tax filers reporting more than $375,000 a year in earned income may end up paying nearly 60% of their wages in taxes to the government under a Barack Obama presidency, economists who have analyzed his plan said.

    The Democratic presidential candidate is proposing not only raising the federal income tax, but also adding a Social Security tax for those Americans earning more than $250,000 a year. For New Yorkers, that could mean that if the current Social Security rate is applied, the marginal tax rate, or rate on every extra dollar earned, could rise to 58%.

    "This is a very eye-popping number," a resident scholar at the American Enterprise Institute, Alan Viard, said.

    Under current law, there is a 12.4% Social Security tax on salaries up to $102,000 a year. While the Social Security tax is split equally between employers and employees, economists widely hold that employees shoulder the entire tax burden because employers simply pass along the cost of the tax in the form of lower wages.

    Mr. Obama has spoken of creating a so-called doughnut hole, where those earning more than $250,000 would have to pay an additional Social Security tax; anyone earning between $102,000 and $250,000 would be exempt.
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  5. #35
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    Quote Originally Posted by gunny View Post
    Tax Rates For New Yorkers Would Top 50% Under Obama
    'Significant Difference' Is Seen For High-Income Areas Like the City
    By JULIE SATOW, Staff Reporter of the Sun | July 18, 2008
    SHARE | PRINT | EMAIL Add to del.icio.us
    Add to Digg
    Add to Facebook
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    New York tax filers reporting more than $375,000 a year in earned income may end up paying nearly 60% of their wages in taxes to the government under a Barack Obama presidency, economists who have analyzed his plan said.

    The Democratic presidential candidate is proposing not only raising the federal income tax, but also adding a Social Security tax for those Americans earning more than $250,000 a year. For New Yorkers, that could mean that if the current Social Security rate is applied, the marginal tax rate, or rate on every extra dollar earned, could rise to 58%.

    "This is a very eye-popping number," a resident scholar at the American Enterprise Institute, Alan Viard, said.

    Under current law, there is a 12.4% Social Security tax on salaries up to $102,000 a year. While the Social Security tax is split equally between employers and employees, economists widely hold that employees shoulder the entire tax burden because employers simply pass along the cost of the tax in the form of lower wages.

    Mr. Obama has spoken of creating a so-called doughnut hole, where those earning more than $250,000 would have to pay an additional Social Security tax; anyone earning between $102,000 and $250,000 would be exempt.

    Sorry, but the math isn't there. 35% top current tax rate + 4% proposed Obama rate increase for the over $250,000 amount + 12.4% (if it's true that FICA will be collected on additional income) totals 51.4%.

  6. #36
    Super Moderator gunny's Avatar
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    Quote Originally Posted by Rick E. View Post
    Sorry, but the math isn't there. 35% top current tax rate + 4% proposed Obama rate increase for the over $250,000 amount + 12.4% (if it's true that FICA will be collected on additional income) totals 51.4%.

    Add NYC Income Tax & NY State Income Tax & what is the total amount going to the taxman?

    As a small business owner I want that income Obama & the rest of the crooked politicos are pulling from the high-end consumer. Called "trickle down" economics.
    Airport Limo Service Spring Hill, Brooksville, Citrus County FL
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  7. #37
    Senior Member Wade Randolph's Avatar
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    Default Obama and Taxes

    Hey RickE I am still waiting on Bill Clinton's middle class tax cut! Remember he promised a middle class tax cut similar to Obama's. We never saw it. Also notice that on Obabam's change.gov site all of the agenda was removed yesterday.

    And RickE I just want the government to get out of my way and let me make my own money.

  8. #38

    Default

    This one is a classic but fitting in this thread....

    Bar Stool Economics

    Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:

    The first four men (the poorest) would pay nothing.
    The fifth would pay $1.
    The sixth would pay $3.
    The seventh would pay $7.
    The eighth would pay $12.
    The ninth would pay $18.
    The tenth man (the richest) would pay $59.

    So, that's what they decided to do. The ten men drank in the bar everyday and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers, he said, 'I'm going to reduce the cost of your daily beer by $20. Drinks for the ten now cost just $80.

    The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his'fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each manís bill by roughly the same amount, and he proceeded to work out the amounts each should pay.!

    And so:

    The fifth man, like the first four, now paid nothing (100% savings).
    The sixth now paid $2 instead of $3 (33%savings).
    The seventh now pay $5 instead of $7 (28%savings).
    The eighth now paid $9 instead of $12 (25% savings).
    The ninth now paid $14 instead of $18 (22% savings).
    The tenth now paid $49 instead of $59 (16% savings).

    Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

    'I only got a dollar out of the $20,'declared the sixth man. He pointed to the tenth man,' but he got $10!'

    'Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got ten times more than I!'

    'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!'

    'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!'

    The nine men surrounded the tenth and beat him up.

    The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
    Tony Franzetti
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  9. #39
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    Watch the change in action on the change.gov website, now that BO has hoodwinked 62 million mindless Americans who think the presidency is an American Idol contest... strap yourself in for a long 4 years.

    http://gatewaypundit.blogspot.com/20...-changing.html

  10. #40

    Default

    Hey Rick , I have but one question for you. Where is the fairness you so proudly speak of when you are proposing that it's OK for someone to pay 52% of their income in taxes and someone else pay 0% ?

    40% of americans pay no income tax. in other words , they have not funded the IRS. How do they get a refund on something they did not fund ?

    It's called welfare.

    BTW - you never answered any of my questions.

    If you are so opposed to the capitalist system , why do you work in it ? Why have you not ventured out into expanding socialism around the world ?

    In case you didn't notice , it has been tried before. Never seemed to work out. Problem is , for everyone to be equal and get the same , someone has to monitor and oversee the equality.
    Therefore , those who oversee are not equal, and that in and of itself is evidence of the flawed design.

    I think that you have opened the eyes of many people on this website and perhaps more that do not participate.

    I personally would never do business with a socialist. I'm sure many others feel the same.

    Maybe you could share the profit on sales of every car you sell or service there at City Limousine on Long Island.

    On the website you are listed as the manager. Are you a principal in the business , or do you just work there ?

    Perhaps you could find some poor person to give you a better job.

  11. #41
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    Quote Originally Posted by BirmLimo - Michael Birmingham View Post
    Hey Rick , I have but one question for you. Where is the fairness you so proudly speak of when you are proposing that it's OK for someone to pay 52% of their income in taxes and someone else pay 0% ?

    40% of americans pay no income tax. in other words , they have not funded the IRS. How do they get a refund on something they did not fund ?

    It's called welfare.

    BTW - you never answered any of my questions.

    If you are so opposed to the capitalist system , why do you work in it ? Why have you not ventured out into expanding socialism around the world ?

    In case you didn't notice , it has been tried before. Never seemed to work out. Problem is , for everyone to be equal and get the same , someone has to monitor and oversee the equality.
    Therefore , those who oversee are not equal, and that in and of itself is evidence of the flawed design.

    I think that you have opened the eyes of many people on this website and perhaps more that do not participate.

    I personally would never do business with a socialist. I'm sure many others feel the same.

    Maybe you could share the profit on sales of every car you sell or service there at City Limousine on Long Island.

    On the website you are listed as the manager. Are you a principal in the business , or do you just work there ?

    Perhaps you could find some poor person to give you a better job.
    So, if I transpose this to Germany, this would mean that even the right wing Christian Democratic Party (I've always voted) is socialist? Transposed to France, it would mean that Sarkozy is a socialist? Laughable!
    We have a welfare state here, and everyone is happy with it and our economy is doing better than yours, which has been ruined by YOUR concept of uncontrolled capitalism and greed, now threatening to destroy the economic equilibrium of the entire World. Since I live alone and since I am an employee, I pay more taxes than most people: 46% (taxes, health insurance, social insurance, etc...). I have no problem with it and I still have a excellent life. I can afford a nice appartment, I can travel on every holiday (BTW: I get 30 Days of Holiday a year plus overtime hours and I work 35 hours a week) and I own a brand new E-Class Mercedes (and soon a 120" limo as a private party vehicle) but still get my costs covered by the state if I have an accident and need heavy medical treatment - or whenever I need help. You might never need help in your life, but if you did, you'd be glad to have a system that doesn't let you down. With my taxes, I finance not only people that pay less taxes, like families with children or the poorer people, but I also contribute to insurances I will need later in my life. I used to own a small business, and taxation increased according to my income - I never felt robbed. You think this is bad? I say it is moral. Uncontrolled capitalism equals the law of the jungle - only the strongest and most agressive survive - is this what you really want?
    You write "In case you didn't notice , it has been tried before. Never seemed to work out. Problem is , for everyone to be equal and get the same, someone has to monitor and oversee the equality.
    Therefore , those who oversee are not equal, and that in and of itself is evidence of the flawed design." What you refer to as "having been tried before" was communist dictatorship, not socialism. But what you call "socialism" has indeed been tried before, and with great success: in the wealthy western european states since World War II.
    Of course you need someone to oversee it all - but these people are elected by the voters and if they do a bad job, they are replaced - that's what you call democracy. If you think democracy is a "flawed design", what does it say about you? BTW: when noone is there to oversee things, as in the US economy, it is called anarchy.
    "I personally would never do business with a socialist. I'm sure many others feel the same." ...and this is called McCarthyism. Life in a democracy requires you to respect the vote and opinion of other people.
    Last edited by Aranos; November 11th, 2008 at 02:18 PM.
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  12. #42

    Default To all commies , progressives and the like

    As stated many times before. The United States of America is not a democracy - it is a Republic.

    If the capitalist system is so bad , then why are poeple willing to die every day to get in here ?

    Funny , I never hear about that problem in your country.

    The European economy is in the toilet.

    And none of you would have anything if it weren't for the evil pigs in America that spilled their blood to protect your asses.

  13. #43

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    Oh yeah , almost forgot.

    I find it amusing that you call someone choosing to not support a certains persons business based on a profound difference in faith , and ideolagy McCarthyism.

    In America , we call that Free Will. Something you may not know about. You see , we Americans are self made people. We withdrew from a country that we found to be oppressive.

    You may not have that same sense of pride, as the only freedoms you enjoy were provided by others and their willingness to fight for your rights and life as your own people were not.

    I thought you lefties loved "protest and civil discourse". Oh that's right , it's only fair when a republican or conservative or in power. When it's one of your own , then you go and cry to the media and your mommy's about how mean and hateful we are.

    Boycotting is one of the oldest games in the leftist playbook. Maybe you should have done a better job of hiding the Manifesto.

  14. #44
    Senior Member Wade Randolph's Avatar
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    Default Arano

    Aranos you would be doing the goose step right now if it wasn't for the U.S. You nuts in Germany bought into Hitler lock stock and barrel.

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    Quote Originally Posted by BirmLimo - Michael Birmingham View Post
    As stated many times before. The United States of America is not a democracy - it is a Republic.
    You wish, that's for sure!

    "If the capitalist system is so bad , then why are poeple willing to die every day to get in here ?"
    I did not say capitalism is bad per se. Our economies here are capitalist ones. But we have social regulations to control it (except of course those part of our economies we cannot regulate because the US impose their will on the major international organisations - which led to the current crisis). Capitalism is good, as long as it is tempered by regulations.

    "The European economy is in the toilet." It's not in the toilet, but it is expecting a recession for 2009 - and this is the fault of the US policies. But thank God, we're still very far from the trouble you are experiencing in the US.

    "If the capitalist system is so bad , then why are poeple willing to die every day to get in here ?
    Funny , I never hear about that problem in your country."
    It just shows you have no Idea. People from all over the world die every minute trying to come to the wealthy western and northern european countries - not just my country. And BTW, I do not think this is something to be proud of, or some kind of ribbon of excellence.

    "And none of you would have anything if it weren't for the evil pigs in America that spilled their blood to protect your asses."
    I never thought of a people, be it the american people or anyone else as "evil pigs". I have many american friends. The US freed us from the most evil dictatorship that's ever disfigured the face of the Earth, and I do not think any european who is right in his mind questions this. While the US government had its own interests in mind, the american people helped us in a way that cannot be forgotten, even after WW II. We owe you our freedom. But at the same time, this is precisely the reason why I - and many more europeans - are aware of any sign of fascism or dictatorship. Trying to mob a so called "socialist" is such a sign. And apart from that: the fact that your grandparents might have saved my grandparents doesn't give you the right to do whatever you please forever.
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