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Author: Subject: $250K? $200K? $150K? Which is it?

Peach Extraordinaire





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  posted on 10/30/2008 at 01:23 PM
I didn't watch BarryO's exercise in self-gratification last night but I'm told, after countless months of his saying those making $250,000 a year and less would receive a tax decrease, that last night he changed it, without explanation, to $200,000 and less. Said it and it was on-screen. On top of that we have his blowhard VP telling people the number is $150,000.

Why can't they keep their story straight?

Why no explanation as to the change from $250K to $200?

How does this in any way make BarryO trustworthy?

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 
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Peach Extraordinaire



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  posted on 10/30/2008 at 01:38 PM
Anybody?

 

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Extreme Peach



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  posted on 10/30/2008 at 01:47 PM
Some answers can be found here:

http://taxcut.barackobama.com/

 

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Peach Extraordinaire



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  posted on 10/30/2008 at 01:54 PM
quote:
Either way, I'm getting that tax break. At this point I can only hope to be as well-off as Joe the Plumber.


So it doesn't bother you that he's been loudly proclaiming $250K and less for months and now, with no explanation whatsoever the number is $200K according to BarryO's infomercial or $150 if you believe Biden?

Why can't they keep their story straight?

Why no explanation as to the change from $250K to $200?

How does this in any way make BarryO trustworthy?

People are taking a gargantuan leap of faith on this guy.

[Edited on 10/30/2008 by RBK]

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Extreme Peach



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  posted on 10/30/2008 at 02:02 PM
quote:
Some answers can be found here:

http://taxcut.barackobama.com/


According to the calculator, Obama will save me $1400, McCain $300. But...in 2010, the expiration of the Bush Tax Cuts will cost me $5000 a year in take-home pay. Which candidate supports letting those cuts expire? BTW, I'm nowhere near the threshold of 250K. or whatever it is today.

 

Universal Peach



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  posted on 10/30/2008 at 02:12 PM
Simple....The $200,000 figure is the threshold for income tax on WAGES......The $250,000 figure is the threshold for income tax on the NET PROFIT FROM A BUSINESS.....They're two entirely different types of income and therefore taxed differently on your annual FEDERAL income tax. Biden was using the $150,000 figure as an example. For further explanation, consult a high school student who has completed and successfully passed accounting 101.....

[Edited on 10/30/2008 by Chain]

 

Peach Extraordinaire



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  posted on 10/30/2008 at 02:16 PM
quote:
Simple....The $200,000 figure is the threshold for income tax on WAGES......The $250,000 figure is the threshold for income tax on the NET PROFIT FROM A BUSINESS.....

[Edited on 10/30/2008 by Chain]


Since when? He has repeatedly said Americans earning $250K and less, until yesterday. Or is denying this the new Big Lie?

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Ultimate Peach



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  posted on 10/30/2008 at 02:17 PM
The answer is neither.

 

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Zen Peach



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  posted on 10/30/2008 at 02:19 PM
quote:
quote:
Simple....The $200,000 figure is the threshold for income tax on WAGES......The $250,000 figure is the threshold for income tax on the NET PROFIT FROM A BUSINESS.....

[Edited on 10/30/2008 by Chain]


Since when? He has repeatedly said Americans earning $250K and less, until yesterday. Or is denying this the new Big Lie?
Nope. Saying that Al-Qaeda and the Democrats want the same thing is, however, the NBL.

 

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Peach Extraordinaire



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  posted on 10/30/2008 at 02:22 PM
He suddenly changes his tune and you sheeple keep dancing right along. Unreal.

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Zen Peach



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  posted on 10/30/2008 at 02:23 PM
Even a righteous explaination wouldn't satisfy McCain supporters. And while we're at it....remarkable job of now trying to make Obama into an anti-sematic bigot. Anyone sense people grasping at straws?

 

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Zen Peach



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  posted on 10/30/2008 at 02:26 PM
Chain is correct and I have studied accounting and the tax code.
 

Peach Extraordinaire



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  posted on 10/30/2008 at 02:27 PM
quote:
Even a righteous explaination wouldn't satisfy McCain supporters.


Why don't we simply begin with an explanation? I have yet to hear one.

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Zen Peach



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  posted on 10/30/2008 at 02:28 PM
Sorry, no sense in wasting my breath......doesn't matter anyway...you're not going to vote for Obama....and I am. Neither of us has or will 'turn' the other.

 

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World Class Peach



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  posted on 10/30/2008 at 02:29 PM
"Why don't we simply begin with an explanation? I have yet to hear one."

You haven't HEARD one because this thread does not have audio. You DID read one from Chain, above. Read it again.

 

Zen Peach



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  posted on 10/30/2008 at 02:31 PM
quote:
Either way, I'm getting that tax break. At this point I can only hope to be as well-off as Joe the Plumber.


You sure about that Marc? Remember the great middle class tax hike that Clinton layed on everyone.

 

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Peach Extraordinaire



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  posted on 10/30/2008 at 02:49 PM
quote:
quote:
quote:
Either way, I'm getting that tax break. At this point I can only hope to be as well-off as Joe the Plumber.


You sure about that Marc? Remember the great middle class tax hike that Clinton layed on everyone.




Well, nothing's certain in taxes, I suppose. But today's pay day, and those checks are pretty damn paltry at the moment. And for the record, I don't remember that middle class tax hike - I think I was about 11 years old for that one. Ah, to be a Dependant again!


It's alright. With BarryO you'll be even more broke but the great, glorious and magnanimous State will cater to your every need.

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Ultimate Peach



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  posted on 10/30/2008 at 02:54 PM
quote:
Simple....The $200,000 figure is the threshold for income tax on WAGES......The $250,000 figure is the threshold for income tax on the NET PROFIT FROM A BUSINESS.....They're two entirely different types of income and therefore taxed differently on your annual FEDERAL income tax. Biden was using the $150,000 figure as an example. For further explanation, consult a high school student who has completed and successfully passed accounting 101.....

[Edited on 10/30/2008 by Chain]


Depending on the type of business, they might be taxed exactly the same. First of all, what kind of corporation are we talking about - S, C, or LLC? In order for an S-Corporation to avoid very high taxes, the owner would likely take most of that $250,000 net profit from the business as a bonus at year end and thereby be taxed on it as ordinary wage income. I'm not sure of the exact tax treatment, but S-Corp and LLC net profits pass through to the owners almost like wage income. C-Corp earnings are treated differently, but very few plumbing companies would elect C-Corp status.

This is parsing and semantics at its worst, and a GREAT example of why the tax code is NOT a tool government should use for anything other than collecting revenue in the most neutral and consistent way possible.

 

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Zen Peach



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  posted on 10/30/2008 at 05:11 PM
Another great thread pointing to the absolute inability of RBK to understand basic English (and apparently, economics).

 

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Zen Peach



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  posted on 10/30/2008 at 09:04 PM
quote:
Simple....The $200,000 figure is the threshold for income tax on WAGES......The $250,000 figure is the threshold for income tax on the NET PROFIT FROM A BUSINESS..


He's not drawing that distinction, though. He's still saying that if "YOU earn less than $250,000 your taxes will not go up by one penny." I heard him say it this morning. Also, there's is a big difference between tax credits and a tax cut but he interchanges these terms at will and nobody ever calls him on it.

 

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Extreme Peach



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  posted on 10/30/2008 at 09:17 PM
Like I stated earlier in this thread, in 2010 I'll be paying $5K a year more in taxes after the tax cuts expire. I make considerably less than 250K/year. Isn't this a tax increase?
 

Peach Extraordinaire



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  posted on 10/31/2008 at 10:02 AM
BarryO is now blatantly lying yet his sheeple are perfectly content to ignore same. If he wins a lot of folks are going to have a lot to answer for in years to come.

 

____________________
As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Zen Peach



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  posted on 10/31/2008 at 10:05 AM
quote:
BarryO is now blatantly lying yet his sheeple are perfectly content to ignore same. If he wins a lot of folks are going to have a lot to answer for in years to come.


As if "lying" is something new to us stupid, ignorant voters... Here's my thought on the subject...better a liar with a fully functional brain, than an old man whose first important decision was to pick for his running mate a PTA mom who can skin a moose.

 

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Peach Extraordinaire



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  posted on 10/31/2008 at 10:08 AM
quote:
quote:
BarryO is now blatantly lying yet his sheeple are perfectly content to ignore same. If he wins a lot of folks are going to have a lot to answer for in years to come.


As if "lying" is something new to us stupid, ignorant voters... Here's my thought on the subject...better a liar with a fully functional brain, than an old man whose first important decision was to pick for his running mate a PTA mom who can skin a moose.


See, you're acknowledging he's a liar yet you're still going to vote for him. How smart is that?

 

____________________
As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Zen Peach



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  posted on 10/31/2008 at 10:13 AM
quote:
quote:
quote:
BarryO is now blatantly lying yet his sheeple are perfectly content to ignore same. If he wins a lot of folks are going to have a lot to answer for in years to come.


As if "lying" is something new to us stupid, ignorant voters... Here's my thought on the subject...better a liar with a fully functional brain, than an old man whose first important decision was to pick for his running mate a PTA mom who can skin a moose.


See, you're acknowledging he's a liar yet you're still going to vote for him. How smart is that?


Hey RBK...In all seriousness.. Tell me you have "faith" in Gov. Palin's ability to be the most Powerful leader in the free world should Sen. McCain be elected and God forbid something happens with his fragile health while in office.

Some Gov. Palin logic for you..

I live in San Diego and every morning when I awake, I can see the Ocean... so go ahead, ask me about the creatures of the sea, large or small.

 

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