So Ya Think that PACT was Bad!

[TWISTED VICTOR]

The TC people won't be happy until they no longer have jobs. No wait, there's always soda.

I heard on the news today that NY is going to tax sliced bagels, so I guess the Nazi's are multi-tasking.

And you're right, most other countries call snus snuff.

[firechick]

Yep, it's a great place to live if you don't like keeping your money.

[TWISTED VICTOR]

Yep, it's a great place to live if you don't like keeping your money.

Hi ya firechick . Yeah, I'm really starting to notice how they seem to be outlawing personal income in the state.

[hittman]

Someone was telling me that some tax breaks and things are going to expire starting next year and it's not looking good for folks like us.

[TWISTED VICTOR]

Someone was telling me that some tax breaks and things are going to expire starting next year and it's not looking good for folks like us.

So far they've postponed the vote. The Dems wanna let 'em expire, but are afraid of mass public hangings....guess they're at least smart enough to see that. Still, who know what they'll do. If they end up not voting to extend tax cuts, they automatically expire, then the finger pointing starts by the Repubs and we still lose. Hang 'em all I say !

[rothenbj]

Someone was telling me that some tax breaks and things are going to expire starting next year and it's not looking good for folks like us.

The big one is the death tax. This year -

"Yes, the estate tax is repealed, but only if you live until 2010 and then have the good sense to die during that particular calendar year. That�s right. If you die in 2009 you will pay estate tax if your estate exceeds $3.5 million. If you die in 2010, you pay no estate tax, no matter how large your estate. For those dumb enough to die in 2011, the current estate tax that we now know and love is back in full force!"

Steinbrenner knew what he was doing. If the no new taxes administration gets their way, next year the fed will take 55% of everything you have over $1m. That sounds pretty high, but start adding up home value, insurance policies, and 401k plans and you'd be amazed how many people it will affect.

The people that really have serious money, can afford to gift it out while they're still alive. However, the normal folk and small business is what it will really hurt. You can't be giving away your possessions when you don't know how long you'll live. If you run a small business, say a lumber yard or farm, you either need to give away control or be faced with an un-payable tax bill on death unless you liquidate. Liquidation will involve losing the family owned business and the corresponding lost jobs.

It really is tough not being filthy rich.

[TWISTED VICTOR]

I read that one too, roth. Funny how extortion is legal in some avenues. My stance is the same as always...if I ever legally earn a few million from my own sweat or genius (ok back there, far left, I heard the snicker) it's mine. Mine, mine, mine! No law, other than a reasonable income tax, should make me fork it over. I should have the right to be buried with it, give it away or burn it. If, in fact, I have to give 55% over to morally bankrupt IRS agents, will someone please wipe my cold dead axx with it first??

[Katya]

Hi ya firechick . Yeah, I'm really starting to notice how they seem to be outlawing personal income in the state.

Come on, TV, how selfish of you. Who needs income? To each according to his needs....

[TWISTED VICTOR]

Come on, TV, how selfish of you. Who needs income? To each according to his needs....

I'm so ashamed . What would Osama and his pet gargoyle Pelosi think of me? I sounded like one of those extremist. Shame be upon me for such foolishness.

[rothenbj]

Come on, TV, how selfish of you. Who needs income? To each according to his needs....

But doesn't everyone NEED to be independently wealthy?