Results 1 to 2 of 2

Thread: Death and Taxes

  1. #1
    Eala Freia Fresena
    „Friend of Germanics”
    Funding Membership Inactive
    Ocko's Avatar
    Join Date
    Aug 2009
    Last Online
    Sunday, April 12th, 2020 @ 08:31 PM
    Status
    Available
    Ethnicity
    Friese
    Ancestry
    Friesland
    Subrace
    Nordid
    Country
    United States United States
    State
    Montana Montana
    Location
    Glacier park
    Gender
    Family
    Married
    Occupation
    selfemployed
    Politics
    rightwing
    Religion
    none/pagan
    Posts
    2,926
    Thanks Thanks Given 
    1
    Thanks Thanks Received 
    51
    Thanked in
    49 Posts

    Death and Taxes

    Bracing for Obamageddon: Obama continues with plans for largest tax hike in US history in 2011.
    During the election Obama pledged over and over not to raise taxes for those making less than a quarter million! Now, the lowest earners will see the biggest tax hike of all! Income taxes on the first $16,750 will go up 50%! This means that the lowest paid will see the biggest percent increase in their taxes.

    Taxes on top of taxes!!! Look at all the new taxes instituted by Obama/Pelosi/Reid in Obamacare! None of these were widely reported by the left-wing media. America is facing financial apocalypse in the near future, as working class families are already struggling desperately to make ends meet before the taxes go into effect.

    From ATR.org

    Higher taxes on marriage and family. The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.

    The return of the Death Tax. This year, there is no death tax. For those dying on or after January 1 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

    Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

    The Tanning Tax. This went into effect on July 1st of this year. It imposes a new, 10% excise tax on getting a tan at a tanning salon. There is no exemption for tanners making less than $250,000 per year.

    The “Medicine Cabinet Tax” Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).

    The HSA Withdrawal Tax Hike. This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.

    Brand Name Drug Tax. Starting next year, there will be a multi-billion dollar tax assessment imposed on name-brand drug manufacturers. This tax, like all excise taxes, will raise the price of medicine, hurting everyone.

    Economic Substance Doctrine. The IRS is now empowered to disallow perfectly-legal tax deductions and maneuvers merely because it judges that the deduction or action lacks “economic substance.” This is obviously an arbitrary empowerment of IRS agents.

    Employer Reporting of Health Insurance Costs on a W-2. This will start for W-2s in the 2011 tax year. While not a tax increase in itself, it makes it very easy for Congress to tax employer-provided healthcare benefits later.

    From Sunshine State News…

    But political inertia and class warfare block the way.

    In his radio address Saturday, Obama said that continued tax cuts for higher earners “will not create jobs; they will kill them.”

    Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi have sounded no less belligerent. After authorizing trillions in stimulus and health-care programs, they claim that deficit-reduction is now their top priority.

    But the public is clearly anxious — if not downright angry — about any policies that will result in higher taxes. And unless the Democratic-controlled Congress takes action by Dec. 31 to extend the current rates, virtually every American will see his or her taxes increase.

    Here are the current and future rates that will be effective Jan. 1 (income ranges are for taxpayers who are married and filing jointly):

    * 10% now — up to $16,750 — 15% (Jan. 1)
    * 15% — $16,751-$68,000 — 15%
    * 25% — $68,001-$137,300 — 28%
    * 28% — $137,301-$209,250 — 31%
    * 33% — $209,251-$373,650 — 36%
    * 35% — over $373,650 — 39.6%.

    Even for those who stay in the 15 percent bracket, taxes will increase because of higher capital gains rates (moving up 15 percent to 20 percent), higher top dividend rates (15 percent to 39.6 percent) and the return of the estate (“death”) tax, which goes from 0 percent to 55 percent.

    In addition, higher taxes on insurers, drug makers and other health-care businesses will be passed on to everyone in the form of higher medical costs.

    http://cofcc.org/2010/07/bracing-for...story-in-2011/
    weel nich will dieken dej mot wieken

  2. #2
    Eala Freia Fresena
    „Friend of Germanics”
    Funding Membership Inactive
    Ocko's Avatar
    Join Date
    Aug 2009
    Last Online
    Sunday, April 12th, 2020 @ 08:31 PM
    Status
    Available
    Ethnicity
    Friese
    Ancestry
    Friesland
    Subrace
    Nordid
    Country
    United States United States
    State
    Montana Montana
    Location
    Glacier park
    Gender
    Family
    Married
    Occupation
    selfemployed
    Politics
    rightwing
    Religion
    none/pagan
    Posts
    2,926
    Thanks Thanks Given 
    1
    Thanks Thanks Received 
    51
    Thanked in
    49 Posts
    Thats what David Duke says:

    The Coming Tidal Wave of Obamacare Taxes

    by Jeff Davis

    Democrats only know how to do two things: tax and spend. Obama has just committed the US to provide medical insurance for everyone in America. On Jan. 1st, 2011 we will be forced to start paying the bill for that monstrous mandate. Not only are the Bush tax cuts gone, tax brackets will soon be going up. And look forward to a 55 percent death tax. Obama and the Dems will literally be picking the pockets of dead White people to pay for all the little brown Latino babies that the Democrats consider the future of America.

    An article at Investors.com reports: “Many voters are looking forward to 2011, hoping a new Congress will put the country back on the right track. But unless something’s done soon, the new year will also come with a raft of tax hikes — including a return of the death tax — that will be real killers. Through the end of this year, the federal estate tax rate is zero — thanks to the package of broad-based tax cuts that President Bush pushed through to get the economy going earlier in the decade. But as of midnight Dec. 31, the death tax returns — at a rate of 55% on estates of $1 million or more. The effect this will have on hospital life-support systems is already a matter of conjecture.”

    I can tell you one effect already. If millionaires are going to lose 55% of their estate on their death, then they will start shifting massive amounts of private wealth offshore in the same way this occurred in Britain from the 1940s onward, depriving the country of an untold reserve of capital that might be used for job creation, research and development and economic recovery. Obama and his Court Jews have just cut this country’s economic throat and on January 1st we start to bleed to death.
    The article notes “Resurrection of the death tax, however, isn’t the only tax problem that will be ushered in Jan. 1. Many other cuts from the Bush administration are set to disappear and a new set of taxes will materialize. And it’s not just the rich who will pay. The lowest bracket for the personal income tax, for instance, moves up 50% — to 15% from 10%. The next lowest bracket — 25% — will rise to 28%, and the old 28% bracket will be 31%. At the higher end, the 33% bracket is pushed to 36% and the 35% bracket becomes 39.6%. But the damage doesn’t stop there. The marriage penalty also makes a comeback, and the capital gains tax will jump 33% — to 20% from 15%. The tax on dividends will go all the way from 15% to 39.6% — a 164% increase. Both the cap-gains and dividend taxes will go up further in 2013 as the health care reform adds a 3.8% Medicare levy for individuals making more than $200,000 a year and joint filers making more than $250,000. Other tax hikes include: halving the child tax credit to $500 from $1,000 and fixing the standard deduction for couples at the same level as it is for single filers. Letting the Bush cuts expire will cost taxpayers $115 billion next year alone, according to the Congressional Budget Office, and $2.6 trillion through 2020. But even more tax headaches lie ahead. This ’second wave’ of hikes, as Americans for Tax Reform puts it, are designed to pay for ObamaCare…”

    This is where you need to go to the article and read the rest of it yourself. It’s a horror story.

    This was a bill, bear in mind, that most of the Congressmen and Senators who voted for it admit they did not read beforehand. Now we know why Obama and his Court Jews had to bribe or threaten Senators and Congressmen to shove this through.

    Obamacare is about the redistribution of wealth out of the hands of White people to Blacks and Latinos in the guise of free health care for minorities and crippling taxes for Whites. It is a very rare thing for me to advocate voting for any Establishment party, but we had better hope the Republicans seize both Houses of Congress in November because there is at least some chance they will do something about this. Not because they give a damn about ordinary White people but for the sake of their corporate cronies in the healthcare and insurance industries.
    weel nich will dieken dej mot wieken

Similar Threads

  1. EU Commission Wants To Start Collect Its Own Taxes
    By Patrioten in forum Articles & Current Affairs
    Replies: 13
    Last Post: Thursday, June 30th, 2011, 11:05 AM
  2. How The US Government Spends Your Taxes
    By Schmetterling in forum The United States
    Replies: 6
    Last Post: Friday, April 25th, 2008, 09:03 AM
  3. Local Taxes increased by Immigration
    By Carl in forum England
    Replies: 4
    Last Post: Saturday, November 3rd, 2007, 01:20 AM
  4. Is it right to pay taxes?
    By Iuzln in forum Political Theory
    Replies: 4
    Last Post: Monday, May 1st, 2006, 11:34 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •