Well just got done doing my taxes, and they went WAY up. I will admit I took a pay raise this year of approximately 9%, but my taxes went up approximately 19%. So this year instead of paying roughly 10% of my income in taxes it is more like 12-14%. Yay Obamacare. So Obama's campaign ads saying Romney paid less in taxes than I do was relatively correct, unfortunately it is because the Jackass in Chief raised my taxes and I am in no way wealthy. What makes it worse is I have had the same withholdings on my W-2 since Bush senior was in office and this is the first year I have had to pay a substantial amount.

 

Absolutely the only thing that my brother (the family Liberal) and I can agree on is that as hard to swallow as it may seem, we need to raise taxes and cut spending if we want our kids to have a future. And this would be because both parties have spent like drunken sailors for way too many years. (Although I think the Democrats have taken it further.) Unfortunately, all the current administration has managed to do is increase taxes - as you've already noticed. Spending cuts? Not so as you'd notice.

The funny thing (to me at least) is that the Republicans have been branded "the party of no." OK, so they don't want to increase taxes. But they also want to rein in spending. So what's so bad about saying no to increased spending? Words fail me.

 

Don't get me started, owning my own biz paying 35,000.00 quarterly along with the regular Apr 15 b--tch slap.

 

1depd : get used to it...only the beginning

 

Raising taxes is a job killer. We need to cut spending. And with a President spending almost 3 times what Bush did over budget, that's not going to happen.

Further cuts to our nation's credit rating is in our future because you're not going to see this president sign any meaningful spending cuts. He hasn't even submitted a budget in 4 years.

 

You really haven't seen anything as far as taxes go. The ObamaCare tax hikes do not start until this year. Same with the new tax rates. Just wait till you do your taxes next year and for 2014. That is when they really hit. That and the hikes in healthcare, since the health care will have new taxes on equipment and medical devices.

 

wait til next year when obamacare kicks in.

my understanding is that the obamacare will require the company to cover 1/2 of the health care expenses, wait till the workers get that other half taken out and then figure out that it is still a major medical policy that will not cover the first $2k or more.

i have a small mfg company, 28 employees, i will not be require to provide health car, but my employees will be penalized for not having it.

if i go with a $5k major medical policy, i am looking at $52k per year to insure my employees, I am thinking of doing this but they are crazy if they think i will be giving raises this year.

 

Thats how it will unfold, yes,... except for the workers that will be let go. Amazing that obama cant understand this...
USA is running out of countries to borrow money from, because those lenders are starting to have there own financial difficulties. Demand of the US dollar is low and when nobody at all wants them, which isn't far off, watch out.....

 

Our economy will collapse.

Since the government can't figure out how to live within its means, it has to.

The questions are when, and what type of system we will replace our current constitution with.

IMO, the gamesmanship and positioning for the post collapse are well under way. Class warfare, etc.. all just tools to push agendas.

Not saying it's going to happen soon or even in my lifetime, but higher and higher taxes are basically a band-aid to a) buy time; and b) make sure the masses have less wealth to fight the government with later.

 

I want the US economy and the dollar to collapse, and fast. That will be the only wake up call to the stupid Liberals as to what they are really doing. They are like children, they have to SEE what the consequences are and not just be told..........STUPID.

 

Hard to disagree, but be careful what you wish for...collapse of the economy and dollar will be no picnic.

Basically, it's impossible to say what the country will look like after the collapse. Maybe we will return to the Constitution (crosses fingers), but it could be used as the mechanism to start from scratch, for the worse.

 

On a fundamental level, I don't disagree with you at all - as usual. Unfortunately, I think we've spent ourselves into such a hole that I don't think spending cuts alone will do it. Your thoughts?

 

Actually this year the Obamacare tax increases started. This is the year they started taxing our employer provided health insurance.

 

Our gov't currently spends 1.1 trillion dollars (almost 3 times as much as Bush) over budget. This is insanity. There is no way, I repeat, NO WAY that increasing taxes can make up for that shortfall. It's simple if you look at the income of the "rich" and how there isn't enough money even if you taxed 100%. The only way is to cut spending. Then again, maybe they should tax everyone that makes $250,000 and above 100% and allow the economy to crash all the while not making even a ding in the debt. I'm beginning to believe that might wake people up from their slumber.

Meaningful spending cuts aren't going to happen with Mr. Columbia Marxist in the White House and control of the Senate in democratic hands.

 

As usual, I find it hard to disagree with you. There's simply no sane thing to do but to cut spending. Unfortunately, that's just not in the DNA of the current administration. All they know how to do is spend. (One has to look no further than the recent "fiscal cliff" negotiated settlement to see that.

That's why I'd suggest that some tax increases are needed along with spending cuts. Remember, spending cuts alone can also lead to collapse. Just look at what happened in Europe when they tried to go with that plan.

BTW, you have absolutely no idea how much it pains me to even suggest raising taxes.