OMG! I really earn more than $250K?.....

[Bob]

This sounds a little inconsistent to me considering post #21. But, your the boss.

i answered the question, or did you only read the answer

In 2003, Essie Mae Washington-Williams revealed that she was the daughter of Wilson's former employer, the late Senator Strom Thurmond, and Thurmond's black maid. Wilson was among those who publicly doubted her assertion that Thurmond had a child out of wedlock. Wilson said even if her story was true, she should not have revealed it because "it's a smear" on Thurmond's image and was a way to "diminish" Thurmond's legacy.[78] After Thurmond's family acknowledged the truth of Washington-Williams' revelation, Wilson apologized but said that he still thought that she should not have revealed that Thurmond was her father.[79] smear on the thurmond's legacy? what is thurmond's legacy?

 

[Bob]

Strom Thurmond - Wikipedia, the free encyclopedia James Strom Thurmond (December 5, 1902 ? June 26, 2003) was an American politician who served as governor of South Carolina and as a United States Senator. He also ran for the Presidency of the United States in 1948 as the segregationist States Rights Democratic Party (Dixiecrat) candidate, receiving 2.4% of the popular vote and 39 electoral vote He conducted the longest filibuster ever by a lone U.S. Senator in opposition to the Civil Rights Act of 1957, at 24 hours and 18 minutes in length, nonstop. He later moderated his position on race, but continued to defend his early segregationist campaigns on the basis of states' rights in the context of Southern society at the time,[2] never fully renouncing his earlier viewpoints.[3][4] After his death it was revealed that Thurmond and a black maid, Carrie Butler, had a daughter whom Thurmond never publicly acknowledged.[5] He is the only U.S. Senator to reach the age of 100 while still in office. joe wilson is a protege of strom thurmond, to wit Early legal and political career

Wilson was active in South Carolina Republican politics from a young age, participating in his first Republican campaign in 1962. As a teenager he joined the campaign of Congressman Floyd Spence, later working as an aide to Senator Strom Thurmond.

 

[JUL]

i keep hearing they will tax health insurance benefits. taxing something we partially pay. i am surprised we all don't have our congressmen on speed dial.

 

[Andy A]

TFT, you are right to a point. There have been no tax increases signed by President Obama. My FITW was changed without any request from me or notice to me. It means more of my money can be used by the government until I see fit to refigure my whole income tax scheme. I don't wish to do that at this time and so the government gets use of my money until I file on April 15th.
It seems this administration is doing many things that are not considered to be the normal course for governmental agencies to take. I, and many other citizens, are frustrated with the machinations of the federal government. To make a long story short, am I better off today or I should say next year than I was last? The answer, with pending healthcare, cap and trade and who knows what else is coming down the pike, is no.

 

[Mango]

TFT, you are right to a point. There have been no tax increases signed by President Obama. My FITW was changed without any request from me or notice to me. It means more of my money can be used by the government until I see fit to refigure my whole income tax scheme. I don't wish to do that at this time and so the government gets use of my money until I file on April 15th.
It seems this administration is doing many things that are not considered to be the normal course for governmental agencies to take. I, and many other citizens, are frustrated with the machinations of the federal government. To make a long story short, am I better off today or I should say next year than I was last? The answer, with pending healthcare, cap and trade and who knows what else is coming down the pike, is no.

Actually, this is not the first time that Congress has let the tax breaks expire. They are called "extenders" for a reason. Personally, I would be quite happy if Congress called me everytime there was a tax being considered for my approval, but I would also like to win the mega millions, but don't see that happening anytime soon.

Between trying to squeeze in Healthcare Reform and the 2010 Defense Budget, Congress couldn't get to all the tax breaks. I'm sure they would have liked to since some of the tax breaks aide in job creation. Also, about 3 dozen were approved about 3 weeks ago, but in order to pay for some of the tax extenders, private equity firms, hedge funds and off shore funds were taxed higher and Republicans held up the Bill because they protested it. After all these industries have contributed to our economic meltdown, a protest against taxing these firms higher is beyond me. Perhaps you may wish to contact your party and ask why? Then maybe they would have had time to pass more tax breaks that may have affected your withholding.

 

[30ashopper]

He's raised the cap gains tax in 2011, and increased the dividend tax. Those aren't extenders that expired as far as I understand things. The dividend increase is a true tax increase on the middle class, fwiw.

But really, none of this is unexpected. We knew this would happen. There's really no point in complaining that he didn't keep a promise either, presidents "break" campaign promises because they don't control legislation.

When the dems are in charge, taxes usually go up. When the reps are in charge, they usually go down. When it's a mixed political bag, things can fluctuate, but recent history indicates taxes tend to go down as dems loose control and are forced to work with reps. Which is why I'm looking forward to the mid terms.

 

[beachFool]

It is simply not true to say the qualified dividend and capital gains increase have anything to do with President Obama.

The tax cuts of 2001 and 2003 were signed by President Bush. In order to be revenue neutral they both were to expire on Jan 1, 2011.

It is astonishing that President Obama is blamed for something that happened when he was a state legislator in Illinois.

As a Certified Financial Planner, it is my professional opinion that doing away with the step-up in basis of inherited assets (part of the 01 &03 tax cuts) is an equally (or a more) heinous middle class tax increase than the two mentioned.

Have a Happy New Year!

 

[Alicia Leonard]

Congress Lets 50 Tax Breaks Expire


When members of the U.S. Senate finally head home, they will be leaving the future of 50 individual and business tax breaks in limbo. All expire at the end of 2009.
Congress Lets 50 Tax Breaks Expire - ABC News

 

[30ashopper]

It is simply not true to say the qualified dividend and capital gains increase have anything to do with President Obama.

Well he and the current congress are in charge.. are you saying they are powerless to do anything about expiring changes? :roll: Also, if I remember things correctly, the democrats were the ones who demanded these cuts expire, in which case Obama and the democrats prior and current are entirely responsible for these tax increases.

The tax cuts of 2001 and 2003 were signed by President Bush. In order to be revenue neutral they both were to expire on Jan 1, 2011.

Well we certainly aren't concerned about that anymore now are we?

It is astonishing that President Obama is blamed for something that happened when he was a state legislator in Illinois.

As a Certified Financial Planner, it is my professional opinion that doing away with the step-up in basis of inherited assets (part of the 01 &03 tax cuts) is an equally (or a more) heinous middle class tax increase than the two mentioned.

Have a Happy New Year!

Are you referring to the one year hiatus of the 50% death tax? If so, how is that a middle class tax increase?

(I do appreciate having someone knowledgeable in tax law here commenting Buz.. looking forward to your response.)

 

[beachFool]

Watching football right now, trying to take the day off.

War Eagle

Will follow up

Happy New Year