BF2S Forums How much are my taxes going up with a Democratic President / Congress?

But all the businesses that I buy stuff from (like the Subway down the street), they'll going to raise their prices to cover these increases, right?

Harmor wrote:

But all the businesses that I buy stuff from (like the Subway down the street), they'll going to raise their prices to cover these increases, right?

i wouldn't expect the giant businesses to have huge price raises. its bad for business.

I think they will raise taxes or have some major cuts in spending (especially military spending).

PureFodder wrote:

Ender2309 wrote:

Harmor wrote:

But all the businesses that I buy stuff from (like the Subway down the street), they'll going to raise their prices to cover these increases, right?

i wouldn't expect the giant businesses to have huge price raises. its bad for business.

Yeah, if they directly pass the tax increase on to you you'll be less likely to buy their stuff which is worse for them. Better to pass some, if any, of it on and lose a bit of profit margin.

That argument works for non-essential goods. For the essentials (food, clothing, utilities, etc), you can bet your ass the cost will be passed on...because it can without impacting bottomline.

PureFodder wrote:

It's possible that the Dems will have sense enough to at least reverse a quarter of the Bush tax cuts and use the extra money to totally secure social security indefinately.

But they won't have the sense to cut back on the government bloat or cut spending. Over one trillion dollars of proposed NEW spending with no mention of reducing current spending.

PureFodder wrote:

If they actually take steps towards some kind of socialization of healthcare you'll see a rise in taxes, but that's a good thing as the fact that you no longer have to personally pay for healthcare (of through your employer) means you'll be saving money overall.

Not going to happen. People will still pay for their own healthcare through their employer...others who don't will get healthcare paid for by increasing the taxes on the ones who do. Involuntary wealth redistribution ftl.

Sydney wrote:

I don't get it, most of Europe manages to prosper with double the percentage of taxes that you guys have

We have a 35% tax here, but being able to go to university for $300 per year and getting free health care, and more socialistic benefits is totally worth it IMO.

Just what makes you think that the average American pays only 17.5% tax? You're forgetting state, local, and sales tax, for starters. After all taxes are added in, the average American gives roughly 40% of their income back to the government.

Source: http://www.washingtonpost.com/wp-dyn/co … 00950.html

Mek-Stizzle wrote:

Havok wrote:

http://media3.washingtonpost.com/wp-dyn … 200193.gif
Source: http://www.washingtonpost.com/wp-dyn/co … 00950.html

I've always wondered what people were on about when they say that Obama means they'll have to pay more tax. Seeing as 60% (actually, a little bit more than 60%) of the USA would get a bigger tax cut under Obama than McCain. It's actually quite the opposite.

Then again, I'm guessing most people here that are Republican are somewhat elite, so they'd be better off tax-wise under McCain than Obama. If people voted based on tax than it's clearly a victory for Obama. Not quite though. It's funny because they always, always talk about how Obama = I'm gonna be taxed more.

Next time someone says that, I'm gonna be like "you must be one rich motherfucker if that's the case"

You aren't looking at the right tax targets:

http://money.cnn.com/2008/08/06/smallbu … /index.htm

and I didn't look to hard, but for businesses:
-Obama wants to roll back Bush's initiatives (including captial gains), and add some green credits.
-McCain wants to cut tax from 35% to 25%, and keep Bush's initiatives, and add some credits.

^^^
Highly simplified but...

I thought that the people making $166k or more per year (the top 5%) were to be taxed?  BUt if you listen to mccain, everybody will be taxed under obama's plan...like affinity % or something..in fact, you don't even get paychecks anymore if obama is president...you just work directly for him..it's in a mccain ad I believe...

bad-man wrote:

ATG wrote:

Unless you make $250000.00 per year or have a heart beat there is no reason to think your taxes will go up.

sad but true

class warfare is rape on the economy.

and 100 million families have stock, and doubling the capital gains is a tax raise.

double of social security, and double of medicade.

business tax going up = rape.

my dad IS a cpa

my dads CPA/MBA > Obamas law degree

Last edited by SealXo (2008-10-01 13:39:47)

chittydog wrote:

SealXo wrote:

bad-man wrote:

sad but true

class warfare is rape on the economy.

and 100 million families have stock, and doubling the capital gains is a tax raise.

double of social security, and double of medicade.

business tax going up = rape.

my dad IS a cpa

my dads CPA/MBA > Obamas law degree

Obama has Warren Buffett advising him.

more of telling him hes going to kill everyone if he doesnt listen to him

My effective tax rate is currently around 35%. Just because McCain says he'd like to lower that to a flat 25% doesn't even mean it is going to happen. And, personally I could care less if corporations (large ones) not little bitty ones like mine - don't get a break. I thought much of what Obama is proposing is - closing loopholes that corporations currently exploit.

Of course saying Obama is seeking to close loopholes - means he may or may not succeed. Like McCain may or may not succeed in getting a 25% corporate tax rate.

Last edited by topal63 (2008-10-01 14:02:35)

ATG wrote:

Unless you make $250000.00 per year or have a heart beat there is no reason to think your taxes will go up.

That is correct.. the ppl making over 250k will just lay you off and ship (more) of your jobs overseas to compensate...lulz.

topal63 wrote:

Kmarion wrote:

ATG wrote:

Unless you make $250000.00 per year or have a heart beat there is no reason to think your taxes will go up.

That is correct.. the ppl making over 250k will just lay you off and ship (more) of your jobs overseas to compensate...lulz.

There is a ZERO point ZERO percent chance almost any small business owner - like myself - is going overseas; that includes employees and or looking for employees. I'd just like the bottom to get here sooner - so a real recovery can happen.

_____

I am not sure if I understand you (SealXo) perfectly?

Are you saying:
1.) You think corporations are going to make shit-loads of money regardless of who's in the oval office? I think I'd agree with that, more or less.
2.) And, you would like these corporations to pay as little tax as possible? Fuck the federal government and it's tax revenue. Which means any services tied to those revenues?
3.) "... than passing it on to me." I don't understand that part.

yes, because

if you read a business book about corporations they say there is no such thing as corporate taxe, because if they get taxed they will basically just inflate there service or products prices. So the corporations don't really end up paying the corporate taxes, we do, because they just pass the tax down to my when i buy there service or product.


AND i believe you wont be going overseas. I don't know about you, but a lot of small business's are barely hanging on right now, so increasing your taxes and your business's taxes, you won't be shipping overseas, youll just be closing your doors. Either way, jobs lost

Last edited by SealXo (2008-10-01 14:31:30)