Blah, blah, blah

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4% of my money

I read yesterday that our new President is going to let the tax reductions for anyone making over $250K expire next year. That means the margin will increase from approximately 35% to 39%. No big deal to the libs I guess but they are proving clearly that they do not get it or that they do not care.

For someone who makes $250K, an increase of only 4% means approximately $10,000 after they make the few deductions they are allowed to. I have heard the BS spouted by the jealous class, " what is $10,000 to someone making that much?" Here are a few ideas.

For one thing, the money that someone earns does not belong to the rest of us. We are going down a very dangerous road as we progress towards the socialist state that the libs dream about.  The phrase "what is yours is mine" is coming true with this administration.

To a business owner, $10,000 could mean one more employee. Yes, a minimum wage employee, but an employee just the same. Right now in this economy I have a feeling there are a few folks who would like a minimum wage job. Just a guess.

If I get to keep MY $10,000, I can invest it or spend it. Either way, someone has to be employed to help me do so. Somebody at either the bank or the store might get to stay employed.

The CBO has stated that it will cost $250K of the Stimulus to provide one job. The same CBO  stated that for every $9 spent, about $1 hits the street. Thats efficient. Most businesses can create a job for way less that $250K.

It is relatively easy for a business owner to barter rather than actually earn more money. If I am close to the $250K limit, I may start to look for ways to get ahead that are not recordable. Business owners have the power to do that, and will, if pushed hard enough.

We need to let our government know that we do not like this tax idea. Money in the hands of the people will go much further than it will in the hands of our government. Write or call your Congressperson today!

Comment balloon 11 commentsKevin Robinson • February 27 2009 11:34AM

Comments

"A Liberal is a person who will give away everything they don't own."

Posted by Michael Kupper (D.R. Horton) over 8 years ago

Aint that the truth.

Posted by Kevin Robinson, Fractional Developer over 8 years ago

How about the fact that someone in the 250k tax bracket already has the AMT that has been kicking their ass for years, where "real" write offs like Interest and taxes, may not count. Because they already "make too much"  and 39% of $250,000 = $97,500.  OUCH!  But they "can afford it" NOT..

Posted by Robert Rauf (HomeBridge Financial Services (NJ)) over 8 years ago

Kevin here is the problem with the libs arguement that not only are they going to raise the taxes they are going after the deductions to!  All the liberal charity organizations have not seen that they have been sold out.  Since the administration is going to take away the deductions for charitable giving do your really think that people are going to give as much??

Posted by Larry Story, Total Care Realty, LLC, Greensboro, NC Real Estate (Total Care Realty) over 8 years ago

No doubt. With this the charities are going to see a major drop in their income. I think this govt truly wants all "giving" to be through the IRS.

Posted by Kevin Robinson, Fractional Developer over 8 years ago

Fools.  Sorry that is all I can say.  I am getting worn down from so much nonsense in such a short amount of time!

Posted by John Hersey, e-PRO Realtor (Berkshire Hathaway HomeServices Homesale Realty) over 8 years ago

"Liberals love the poor so much they like to multiply them"

Posted by Alice Linahan (Voices Empower ) over 8 years ago

IT IS TIME FOR COMMON PEOPLE TO TAKE A COMMON STAND!!

 

Angry Citizens Across U.S. Revive Boston Tea Party Protest

02-27-2009 8:54 am   -  KAKE
Dateline: Wichita, Kansas

"Let's go back to the founding fathers. Basically, this is a land bound tea party, but it's a populist revolt against the 'porkius bills,' I like to call it."

Posted by Alice Linahan (Voices Empower ) over 8 years ago

I just received a notice that not only are taxes going up, but they are trying to limit the Home Interest deduction for people making over $250k, often the only deduction that they have. 

It was in the NJAR's week in review email, and in a NAR press release...

Posted by Robert Rauf (HomeBridge Financial Services (NJ)) over 8 years ago

Kevin the scariest thing I heard was that Obama does get it. He just doesn't care, he wants his agenda passed at all costs, he is more than willing to be a one term president he is hell bent on  restructuring the entire makeup of this country.

Posted by Hugh Krone, Realtor, Sussex County NJ (Weichert Referral Associates) over 8 years ago

Taking away the non profit charitable giving tax deduction is another revelation of how this new administration is against faith based organizations which can do things no government can.

But, liberals feel government is God.

Posted by Broker Nick, Broker Nick Relocation Broker Service (South Florida Real Estate & Development, Inc.) over 8 years ago

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