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pkang0202
Joined: 09 Mar 2007
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 Posted: Sun May 16, 2010 6:07 am Post subject: What do you know....ObamaCare more expensive than estimated |
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http://content.usatoday.com/communities/theoval/post/2010/05/obamas-health-care-tab-may-top-1-trillion/1
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| It's no surprise that the Congressional Budget Office now says the 10-year, $938 billion health care bill passed by Democrats and signed by President Obama likely will cost at least $115 billion more. Those are projected future costs that Congress will have to vote on. |
This is only a short time after it was rammed through Congress. Imagine the cost estimates a year from now. 2 years....
I'm glad that when I'm at the age to retire, I won't be able to because all my money would've gone to paying for social programs. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Sun May 16, 2010 8:40 am Post subject: |
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It's not Obamacare it's a healthcare bill.
I have to say. I would rather pay for this than the war on drugs, Iraq, troops in Japan, Germany and many other useless spots we have troops. |
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.38 Special
Joined: 08 Jul 2009
Location: Pennsylvania
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| Posted: Sun May 16, 2010 9:36 am Post subject: |
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| No_hite_pls wrote: |
It's not Obamacare it's a healthcare bill.
I have to say. I would rather pay for this than the war on drugs, Iraq, troops in Japan, Germany and many other useless spots we have troops. |
Sounds like you've described Canada. Are you thinking what I'm thinking?
EMIGRATION ROAD TRIP! WOOOOO!
Nah, but seriously. Being the hegemon is expensive. It's like being the host of every party -- no one else is willing to take their turn because they aren't as powerful.
During the Civil War Congress enacted the first income tax. It was not to exceed 3% for anyone making less than 10 grand -- in otherwords, the middle-class. Below 600 dollars -- the working-poor -- weren't included.
When I worked the factory circuit, making between 35 and 50 grand a year -- I was taxed between 30 and 40%.
This is how they get you, empty promises and fake guarantees -- with a smile and a wink.
This thing is going to be gargantuan. |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Sun May 16, 2010 12:27 pm Post subject: |
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| .38 Special wrote: |
When I worked the factory circuit, making between 35 and 50 grand a year -- I was taxed between 30 and 40%.
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Remarkable how much income taxes have fallen isn't it. Last year I made well over 50 grand and our Fed tax liability was zero. They refunded every penny that had been withheld and gave us an additional $800 refund from schedule M. Including our state income tax our total liability was less than 2% of gross income. I'd vote for higher taxes, including on myself. |
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.38 Special
Joined: 08 Jul 2009
Location: Pennsylvania
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| Posted: Sun May 16, 2010 12:38 pm Post subject: |
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In my sick little imagination, I dream of a Constitutionally bound Federal government that collects a modest flat tax and budgets itself around that.
Let the states collect an income tax and forge their own "social institutions." No reason why Wyoming should be dragged down with Massachusetts, Texas with California.
I've met my state representatives. When we protest the state capital they come out to meet us and talk to us. I can walk into my rep's office in Harrisburg any time I want (within reason) and he is obligated to hear my concerns. I get personalized e-mails from my representative, not automated responses.
He who is closest to you best represents your interest. You who are far away better represent his.
Frankly, I'm tired of letting some Harvard countess handle my money. The PA government is far from perfect but when we march in the door they listen. Try that in DC and you'll get arrested. |
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Senior
Joined: 31 Jan 2010
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| Posted: Sun May 16, 2010 2:56 pm Post subject: |
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| jaykimf wrote: |
| .38 Special wrote: |
When I worked the factory circuit, making between 35 and 50 grand a year -- I was taxed between 30 and 40%.
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Remarkable how much income taxes have fallen isn't it. Last year I made well over 50 grand and our Fed tax liability was zero. They refunded every penny that had been withheld and gave us an additional $800 refund from schedule M. Including our state income tax our total liability was less than 2% of gross income. I'd vote for higher taxes, including on myself. |
You are more than welcome to voluntarily pay more tax if you want to.
Don't you think that the story you just outlined is kind of absurd? They gave you all of your tax back, plus some? How is that supposed to work? Why did they take the money in the first place, if they were only going to give it back? Where did that $800 come from? Who was deemed to be less deserving of that money than you? How much resources were consumed in taking money with one hand and giving it back with the other?
Do you not find this whole thing a little strange? |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Sun May 16, 2010 3:24 pm Post subject: |
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| Senior wrote: |
| jaykimf wrote: |
| .38 Special wrote: |
When I worked the factory circuit, making between 35 and 50 grand a year -- I was taxed between 30 and 40%.
|
Remarkable how much income taxes have fallen isn't it. Last year I made well over 50 grand and our Fed tax liability was zero. They refunded every penny that had been withheld and gave us an additional $800 refund from schedule M. Including our state income tax our total liability was less than 2% of gross income. I'd vote for higher taxes, including on myself. |
You are more than welcome to voluntarily pay more tax if you want to.
Don't you think that the story you just outlined is kind of absurd? They gave you all of your tax back, plus some? How is that supposed to work? Why did they take the money in the first place, if they were only going to give it back? Where did that $800 come from? Who was deemed to be less deserving of that money than you? How much resources were consumed in taking money with one hand and giving it back with the other?
Do you not find this whole thing a little strange? |
I guess you can't be an American since you apparently have no idea how our tax system works. No, it does not seem strange that the taxes withheld from your paycheck are only any estimate. |
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.38 Special
Joined: 08 Jul 2009
Location: Pennsylvania
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| Posted: Sun May 16, 2010 3:36 pm Post subject: |
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This is how the auto-withdrawn taxes work.
1. The gov't takes yer Benjies;
2. It spends it on stuff right away or collects interest on it;
3. At a later date it gives you some of it back and you're supposed to be thankful.
Or... you can do it this way:
1. Do not allow withholding. This is your right;
2. Estimate your tax liability and put that money into an interest earning bank account;
3. Pay what you "owe" (what the gov't thinks it is entitled to);
4. Enjoy the interest you earned on it 
Then there is option X, so super double-mysterious that it just... might... blow... your... mind...
Stop electing assholes who want to increase public services, corporate welfare, and idiotic War(s) Against Stuff.
When someone says to you, "I'm going to create more, massively stupendous services, lower taxes, and reduce the deficit," stop listening. Just stop. It's over at that point. Until he turns water into wine then he's done talking.
I totally just ranted all over you. I apologize, here's a towel to clean yourself off. |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Sun May 16, 2010 5:06 pm Post subject: |
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| .38 Special wrote: |
Or... you can do it this way:
1. Do not allow withholding. This is your right;
2. Estimate your tax liability and put that money into an interest earning bank account;
3. Pay what you "owe" (what the gov't thinks it is entitled to);
4. Enjoy the interest you earned on it
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While you do have the right to adjust the amount of withholding so as to reduce or eliminate the size of your expected refund, if at the end of the year, you end up owing more than a certain amount, you may have to file form 2210 and pay a penalty. "The federal income tax is a pay-as-you-go tax. You must pay the tax as you earn or receive income during the year""Generally, the amount your employer withholds for federal income tax must be based on your Form W-4. However,whether you are entitled to claim exempt status or a certain number of withholding allowances is subject to review by the IRS. If the IRS determines that you cannot claim more than a specified number of withholding allowances or claim a complete exemption from withholding, the IRS will issue a notice of the maximum number of withholding allowances permitted (commonly referred to as a �lock-in letter�) to both you and your employer." http://www.irs.gov/pub/irs-pdf/p919.pdf |
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The Happy Warrior
Joined: 10 Feb 2010
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| Posted: Sun May 16, 2010 8:25 pm Post subject: |
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| No_hite_pls wrote: |
It's not Obamacare it's a healthcare bill.
I have to say. I would rather pay for this than the war on drugs, Iraq, troops in Japan, Germany and many other useless spots we have troops. |
I wouldn't call troops in Japan or Germany useless, but the money spent on the healthcare bill is certainly better value. |
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.38 Special
Joined: 08 Jul 2009
Location: Pennsylvania
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| Posted: Sun May 16, 2010 9:36 pm Post subject: |
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| The Happy Warrior wrote: |
| No_hite_pls wrote: |
It's not Obamacare it's a healthcare bill.
I have to say. I would rather pay for this than the war on drugs, Iraq, troops in Japan, Germany and many other useless spots we have troops. |
I wouldn't call troops in Japan or Germany useless, but the money spent on the healthcare bill is certainly better value. |
A better value for whom? |
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Mon May 17, 2010 5:15 am Post subject: |
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| Senior wrote: |
| jaykimf wrote: |
| .38 Special wrote: |
When I worked the factory circuit, making between 35 and 50 grand a year -- I was taxed between 30 and 40%.
|
Remarkable how much income taxes have fallen isn't it. Last year I made well over 50 grand and our Fed tax liability was zero. They refunded every penny that had been withheld and gave us an additional $800 refund from schedule M. Including our state income tax our total liability was less than 2% of gross income. I'd vote for higher taxes, including on myself. |
You are more than welcome to voluntarily pay more tax if you want to.
Don't you think that the story you just outlined is kind of absurd? They gave you all of your tax back, plus some? How is that supposed to work? Why did they take the money in the first place, if they were only going to give it back? Where did that $800 come from? Who was deemed to be less deserving of that money than you? How much resources were consumed in taking money with one hand and giving it back with the other?
Do you not find this whole thing a little strange? |
As someone else said, you obviously are not familiar with the US tax system. I made money from the US gov't in 2008. What did I do? Filed my taxes, that is it. My taxable income was a few grand (I was in grad school), so I got all my tax money back PLUS that good ol' Bush stimulus plan that gave me a few extra hundred bucks. Pretty awesome.
I haven't paid federal income tax since the Clinton years, although that might change this year.
| Quote: |
| A better value for whom? |
Americans. Not for the Japanese or Germans. |
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AsiaESLbound
Joined: 07 Jan 2010
Location: Truck Stop Missouri
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| Posted: Mon May 17, 2010 5:54 am Post subject: |
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For being the world's richest country, it fails miserably at looking out for it's own best interests. It's people. Do we expect to just be on a social system dole? Many have given up and do expect it, but real career opportunities by investing in people and new manufacturing would be an ambitious good start. Fair and adequate taxation is needed as well as politicians and high executives being held accountable to make decisions and operate in an efficient and effective manner where we have a chance at getting the most bang for our buck. It sucks how inefficient, wasteful, and greedy the top line is. At this rate, the country is flat busted broke if it can't go back to investing in the people instead of investing in emerging markets as to develop them instead who in turn become our competitors that beat American workers out of the market.
It's not over the top to say Uncle Sam is going for broke as many states are teetering on operational failure due to mismanaged budgets in the red. Illinois can't pay it's bills and all kinds of financial problems are popping up around the country. Accountability, governmental restructuring, and economic protectionist policies would be a dam good start at reform. We could afford health care as well as have a bustling job market full of demand if we went about it all in a very different manner. We have mostly selfish fatties in high offices who need to be canned. |
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SpiralStaircase
Joined: 14 Feb 2008
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| Posted: Tue May 18, 2010 2:45 pm Post subject: Re: What do you know....ObamaCare more expensive than estima |
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| Quote: |
| I'm glad that when I'm at the age to retire, I won't be able to because all my money would've gone to paying for social programs. |
Amen brother. To hell with VETS, retirees, disabled, unemployed, hungry... |
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Senior
Joined: 31 Jan 2010
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| Posted: Tue May 18, 2010 4:20 pm Post subject: |
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| bucheon bum wrote: |
| Senior wrote: |
| jaykimf wrote: |
| .38 Special wrote: |
When I worked the factory circuit, making between 35 and 50 grand a year -- I was taxed between 30 and 40%.
|
Remarkable how much income taxes have fallen isn't it. Last year I made well over 50 grand and our Fed tax liability was zero. They refunded every penny that had been withheld and gave us an additional $800 refund from schedule M. Including our state income tax our total liability was less than 2% of gross income. I'd vote for higher taxes, including on myself. |
You are more than welcome to voluntarily pay more tax if you want to.
Don't you think that the story you just outlined is kind of absurd? They gave you all of your tax back, plus some? How is that supposed to work? Why did they take the money in the first place, if they were only going to give it back? Where did that $800 come from? Who was deemed to be less deserving of that money than you? How much resources were consumed in taking money with one hand and giving it back with the other?
Do you not find this whole thing a little strange? |
As someone else said, you obviously are not familiar with the US tax system. I made money from the US gov't in 2008. What did I do? Filed my taxes, that is it. My taxable income was a few grand (I was in grad school), so I got all my tax money back PLUS that good ol' Bush stimulus plan that gave me a few extra hundred bucks. Pretty awesome.
I haven't paid federal income tax since the Clinton years, although that might change this year.
| Quote: |
| A better value for whom? |
Americans. Not for the Japanese or Germans. |
You're right. I don't know anything about the U.S tax system. That doesn't negate what I said in my post. |
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