How Will Obama's Tax Plan Impact Everyday Americans?

[janetupnorth]

Hmm...Obama just talked about raising taxes for Warren Buffet...What does that mean to me?
Hmm...maybe higher shipping charges next round because Warren's profits are going to taxes?Sorry, but I think that tax plan DOES NOT help 95% of Americans...

 

[cathyskitchen]

Um, it means WARREN BUFFET himself will have higher taxes, b/c he's one of the wealthiest men in this country. He's not talking about taxing his companies. It doesn't mean higher taxes to you - it means higher taxes to the 5% of this country who make so much money that we can't even fathom (and who can afford to help bail out other companies, which he'll surely get a tax break for!) .

 

[ChefBeckyD]

Hmm...Obama just talked about raising taxes for Warren Buffet...

What does that mean to me?
Hmm...maybe higher shipping charges next round because Warren's profits are going to taxes?

Sorry, but I think that tax plan DOES NOT help 95% of Americans...

Tax businesses more, and prices will rise on everything. They aren't going to let their profits go down. DUH. Anyone who's ever worked retail or wholesale knows that. Obama is living in a dreamland.

 

[ChefBeckyD]

Um, it means WARREN BUFFET himself will have higher taxes, b/c he's one of the wealthiest men in this country. He's not talking about taxing his companies. It doesn't mean higher taxes to you - it means higher taxes to the 5% of this country who make so much money that we can't even fathom (and who can afford to help bail out other companies, which he'll surely get a tax break for!) .

No - I was listening - and he was CLEARLY talking about taxing businesses too - he even named a couple.

 

[janetupnorth]

No, I disagree. When the rich are taxed higher, they want to make up the difference...his companies will suffer.I work for a mid-sized privately owned company. Due to the election and potential results, they have suspended all spending. If a certain candidate gets in office, they will be hurting and jobs will be cut. I'm not looking forward to that.

 

[Kitchen Diva]

Hmm...Obama just talked about raising taxes for Warren Buffet...

What does that mean to me?
Hmm...maybe higher shipping charges next round because Warren's profits are going to taxes?

Sorry, but I think that tax plan DOES NOT help 95% of Americans...

Warren Buffet said he didn't pay enough in taxes... That's because he has so many write off's... so before anyone says "If Warren Buffet thinks the rich should pay more taxes, so maybe they should... Just come and look at our W2's from last year. I think nearly 40% in taxes is high enough.. and again.. Mr. Buffets has HUGE amounts of write-off's...

 

[JAE]

And if Warren Buffet can afford to pay higher taxes why doesn't he just have his companies give everyone raises so his profit will be less? If he doesn't need the money, why doesn't he spread his wealth in that way?

 

[Kitchen Diva]

And if Warren Buffet can afford to pay higher taxes why doesn't he just have his companies give everyone raises so his profit will be less? If he doesn't need the money, why doesn't he spread his wealth in that way?

Oooo, well played young Jedi!

 

[janetupnorth]

I still think it's funny that he talks about raising Warren's taxes and quotes Warren as one of his main advisors...

 

[Shawnna]

He is talking about taxing businesses. He is talking about raising the taxes for businesses who bring in $250,000 each year...not businesses who profit 250, but bring it into their business. My business runs $250,000 through it easily every year, but I certainly don't make near that...lucky to clear $40,000 for our family of 5. All businesses have expenses. My husband and I do not mark up our products like most companies. We desire to make a living, but not at the expense of others. We give a lot of stuff away FREE to churches, and funerals, and other non-profit organizations. Yes these are tax write-offs, but we will still be having to pay a higher tax rate if Obama is elected. Small businesses can barely make it with the taxes they are required to pay now. The government is pushing all of the small businesses out and making more room for "big business"...giant corporations.

 

[Kitchen Diva]

He is talking about taxing businesses. He is talking about raising the taxes for businesses who bring in $250,000 each year...not businesses who profit 250, but bring it into their business. My business runs $250,000 through it easily every year, but I certainly don't make near that...lucky to clear $40,000 for our family of 5. All businesses have expenses. My husband and I do not mark up our products like most companies. We desire to make a living, but not at the expense of others. We give a lot of stuff away FREE to churches, and funerals, and other non-profit organizations. Yes these are tax write-offs, but we will still be having to pay a higher tax rate if Obama is elected. Small businesses can barely make it with the taxes they are required to pay now. The government is pushing all of the small businesses out and making more room for "big business"...giant corporations.

I hear you Shawna... woe to us if Barack is elected... the taxes will push us from a recession to a depression...

 

[Stampaholic1961]

I'm trying to find my source but I heard yesterday that 4 out of 5 financial people are "scared" that Obama will be elected. They think it will be horrible for the country.

 

[pampchefrhondab]

And if Warren Buffet can afford to pay higher taxes why doesn't he just have his companies give everyone raises so his profit will be less? If he doesn't need the money, why doesn't he spread his wealth in that way?

Great minds think alike! I was thinking - why doesn't he give us a raise!

I have to vote for Obama..... as the most skilled liar in America!

 

[ChefBeckyD]

I'm trying to find my source but I heard yesterday that 4 out of 5 financial people are "scared" that Obama will be elected. They think it will be horrible for the country.

Yes, one of my best friends is a VP of a Financial Planning Firm - and she says that his plan will be devastating. She also said that if the stock market looks bad now, hold on to your hats and get ready for the bumpiest ride ever if Obama is elected.












The irony of this is that she is a registered democrat, and we have never agreed on politics!

 

[WLMcCoy]

I definately don't agree w/ higher taxes for higher paid Americans.. They work hard to earn $250,000+ annually.. Should the top 10% of people who sell Pampered Chef pay more taxes b/c they work harder? No way!!

 

[pampchefrhondab]

I definately don't agree w/ higher taxes for higher paid Americans.. They work hard to earn $250,000+ annually.. Should the top 10% of people who sell Pampered Chef pay more taxes b/c they work harder? No way!!

WooHoo - someone else who thinks the same way I do! I said this is another post!

 

[JAE]

WooHoo - someone else who thinks the same way I do! I said this is another post!

It's so logical that we all just say it because it's the first thing that comes to our minds. It's one of those "duh" moments.

 

[Shawnna]

the thing that gets me the most is that we work harder and harder to make ends meet, we pay more taxes and then our money is handed over to illegal immigrants and people who are just too stinking lazy to get off their butts and get a job...lots of people in my area don't work at all and they make more money than I do because they are getting my tax dollars. I am not saying every welfare recipient is that way, I'm just saying that their are too many of them out there and it is running rampant in my area.

 

[WLMcCoy]

the thing that gets me the most is that we work harder and harder to make ends meet, we pay more taxes and then our money is handed over to illegal immigrants and people who are just too stinking lazy to get off their butts and get a job...lots of people in my area don't work at all and they make more money than I do because they are getting my tax dollars. I am not saying every welfare recipient is that way, I'm just saying that their are too many of them out there and it is running rampant in my area.

Speaking of Welfare.. I think they should have to take a drug test before they get a DIME!!! That would cut back a few bucks, I am sure!

 

[Nanisu]

Ok, I am not a person to talk politics on this board, but I have never understood the whole "tax the rich more" mentality. Just curious--the rich are the ones who create the jobs by running their businesses--if we tax them so that their businesses pay more, they can't afford to create new jobs....how is that going to help the economy? It certainly won't create more jobs....

 

[Jennie4PC]

I have said this before but I dont see why we cant do a flat tax say tax 10% period. No write offs or any thing. That way people cant cheat the system.

 

[Hathery]

I have said this before but I dont see why we cant do a flat tax say tax 10% period. No write offs or any thing. That way people cant cheat the system.

I totally agree with that!