(no subject)

[lafinjack.livejournal.com]

Comments

[unnamed525.livejournal.com]

They have to tighten their belts and sacrifice for the greater good of America.

[xforge.livejournal.com]

Who were brought to you by the people who thought it was a neat idea to borrow your way through a war.

[vivianc1968.livejournal.com]

Nice logic. So since Bush borrowed $640 billion over five years for Iraq, it is fine to borrow $780 billion for special interests in the first thirty days.

[xforge.livejournal.com]

Didn't really say that, but thanks for making an ass of yourself for me. = )

It's probably not the right thing to do, but I happen to agree with the Keynesians since they've been proven to be right a few times, which is a few times more often than the supply-siders. And who really knows until five, ten years from now when things are either better or they aren't? And as regards "special interests," if insuring kids so they won't die of chickenpox and funding education is a "special interest," sign me up, I'll be glad to pay in.

[dwer.livejournal.com]

because there's no difference between investing in infrastructure and bombing the hell of it?

I swear, the GOP stands for "Gosh, Only Preschool" when it comes to reading comprehension.

[xforge.livejournal.com]

No, not you, just a general comment.

[xforge.livejournal.com]

OMG please can't this happen.

Of course, Bill O'Reilly, one of the most pathetic asshole pundits out there, makes 15 million a year, so I seriously doubt we could be rid of him or Hannity.

[vivianc1968.livejournal.com]

Forget the pundits, how about the real people on that $250,000 cusp? I'm already working on the research as to whether or not I should bother to continue to pay my mortgage when I can get someone else to pay it for me. And where is the break-even point on working fewer hours to reduce income as opposed to working harder so that 50% of workers no longer have to pay taxes? Ah, the fun you can have with a CPA, Masters in Taxation and an MBA.

[vivianc1968.livejournal.com]

The second program, called "Home Affordable Modification," is aimed at borrowers whose payments have become unaffordable, because of a hardship such as job loss or illness, or because the interest rate has been reset higher on an adjustable-rate mortgage. The government would provide cash payments and financial subsidies to help the lender lower the monthly payment to as much as 31 percent of the borrower's gross monthly income.
Link (http://www.courant.com/business/realestate/hc-hrehousingtimes0308.artmar08,0,4103853.story)
My house has lost value so let's get some government payments.

[vivianc1968.livejournal.com]

Yes, but under the new plan, several deductions also start getting phased out at $250K so there will be additional increase in your taxable base. It's like a waterfall.

[jlc20thmaine.livejournal.com]

How many of those making over $250,000 are small business owners? And just how will the tax hikes impact them? It's my understanding that they get taxed differently than just regular salaried employees.

[ltmurdoch.livejournal.com]

OK,

"where is the break-even point on working fewer hours to reduce income as opposed to working harder so that 50% of workers no longer have to pay taxes?"

...the only thing you can be talking about there is the theoretical "value of an extra hour of work." So you're really going to decide that an extra minute of work is worth an additional $0.650 after tax but NOT worth $0.605? C'mon. Be serious.

Also, you talk about manipulating your income to qualify for the mortgage assistance and/or avoiding taxes. As an s-corp owner myself, I understand where you are coming from. But there is a line. It may be a little gray in places, but there's a line. And if you are leasing your car through the company and paying for it with pre-tax money, that's one thing. But if you are hiding income or expensing your trips to the grocery store, you are a criminal and, as "i" put it, you are part of the problem. So don't fucking cheat!

Regarding the home mortgage assistance, I am also looking into getting the assistance. I had a bad year last year and it may have come at the perfect time. While my prospects for this year and the future are fantastic, if I can renegotiate my mortgage with the help of the federal government, I will do it. As a husband and father, I am compelled to act in my family's best interests. If it's available to me, I will take it. As long as I don't act unethically in the process. I figure, if things work out well for me in the future, I'll be paying the taxes for it myself anyway.

[vivianc1968.livejournal.com]

I don't have to cheat to play with the numbers. There are a number of different options and programs available to shelter income. Now might be a good time to start a 401k program or other retirement plan under the S-corp instead of just personally. One car is leased by the company so far but not ours. We've talked about it but not yet. My car won't ever be because I seldom ever have to drive for the business. However, my wife spends half her week going to client locations.

We don't cheat. With CPA certifications on the line, it's not worth the risk. But, also being a husband and father, I would be remiss if I didn't try to get the maximum advantage from the programs I will end up sponsoring.

[i.livejournal.com]

or maybe you could just give enough extra to a worthy charity to put you under 250K, but heaven forbid you should actually help another human being out.

[vivianc1968.livejournal.com]

No can do. You see, charitable contributions are one of the things that the new Obama budget phases out.

[jlc20thmaine.livejournal.com]

$250,000? IS that the made up number that considered rich? I though it went as low as $150,000 according to the liberals during the campaign.

[xforge.livejournal.com]

Arbitrary discussion.

[jlc20thmaine.livejournal.com]

Why? It's very important to determine what income will make you "rich" The dems want to use an arbitrary number of $250k, or is that $200k, or maybe $150k. I just want to know why.

[i.livejournal.com]

when you have a progressive tax rate, there has to be a line (or more than one). no matter where you draw it, people like you will complain.

Weak sauce Icon

[polyanarch.livejournal.com]

Fred Phelps would be proud...

[jlc20thmaine.livejournal.com]

Why not tax the poor more. That's an incentive to work harder and become rich.