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  1. #27
    Join Date
    May 2002
    Location
    Houston Texas
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    6,327
    Quote Originally Posted by ga-hvac-tech View Post
    I just found it a few minutes ago...

    Seems to me we have a rash of liberals show up and 'drive by post'... I wonder of PJ or Geer are recruiting them just to stir the mud.

    How goes it down there Al? Business good?

    We had a cold snap and set a record low last Monday... we are more or less back to normal temps now. Work is steady, but still slow.

    Merry Christmas and a Happy New Year!
    Things are slow but it takes awhile to build something from nothing and navigating the corporate morass is difficult for one that has been basically self employed his entire life.

    Thanks for the well wishes and right back at you. Christmas is going to be great my Granddaughter is almost three now and she is really understanding for the first time the true meaning of CHRISTMAS and that presents are also part of the fun.

    I cannot wait to see here ripping through all the wrapping for me children is what that part of Christmas is all about. Christ is with me every day so CHRISTMAS is special but not the only day I give thanks.

  2. #28
    Join Date
    Jul 2010
    Location
    NJ
    Posts
    394
    It is really shocking how hypocritical the left is. They cried that the Bush tax cuts were unfair and should be eliminated. The Obamination ran for office on that. They cried they only gave money to the rich not the middle class. Now they switched tunes and want to keep them for the middle class and end them for the rich. But I thought the middle class did not get anything (that is what they told us). They are a bunch of whining fools that never studied economics.

    Don't like Wall St - that is what provides all the money for business. If you want to attack people that really provide no value to the economy, what about a 90% income tax on all movie stars, pro athletes and other such that really know less than nothing that the stupid white trash look up to.

    Bottom line, everyone should pay some income tax, and they should all pay it at the same marginal rate -- that would be truly fair.

    The current government wants to give money to the poor because they will spend it all and help the economy. How stupid is that, isn't over spending and not being productive what got us in the current mess. Its time for people to take on responsibility and not spend beyond their means and not expect a hand out. Its time to phase out unemployment insurance payments over time. Sure people should get help for a period of time, but now for three years - that is crazy. All that does is motivate them not to work. In NJ I hear you get as much as $30K a year on unemployment - heck why bother to look for a job, thats like $15 a hour to sit on your ass watch TV and drink beer.

  3. #29
    Join Date
    Sep 2005
    Location
    Atlanta GA area
    Posts
    21,523
    Quote Originally Posted by kirbinster View Post
    It is really shocking how hypocritical the left is. They cried that the Bush tax cuts were unfair and should be eliminated. The Obamination ran for office on that. They cried they only gave money to the rich not the middle class. Now they switched tunes and want to keep them for the middle class and end them for the rich. But I thought the middle class did not get anything (that is what they told us). They are a bunch of whining fools that never studied economics.

    Don't like Wall St - that is what provides all the money for business. If you want to attack people that really provide no value to the economy, what about a 90% income tax on all movie stars, pro athletes and other such that really know less than nothing that the stupid white trash look up to.

    I am not going to report this, but: Do ya think it sounds kinda racist...

    Bottom line, everyone should pay some income tax, and they should all pay it at the same marginal rate -- that would be truly fair.

    The current government wants to give money to the poor because they will spend it all and help the economy. How stupid is that, isn't over spending and not being productive what got us in the current mess. Its time for people to take on responsibility and not spend beyond their means and not expect a hand out. Its time to phase out unemployment insurance payments over time. Sure people should get help for a period of time, but now for three years - that is crazy. All that does is motivate them not to work. In NJ I hear you get as much as $30K a year on unemployment - heck why bother to look for a job, thats like $15 a hour to sit on your ass watch TV and drink beer.
    I mostly agree. We used to be a country that worked TOGETHER for a better place for everyone... now all we do is try to steal from each other through special interest groups ripping off others through politics. As if getting a larger share of the pie at someone else' expense is going to make my life better or make me happy... Even the Beatles back in the 1960's understood the pursuit of $$$ was not the goal... Are we not smarter than a rock band in the 1960's??? If we are, how about lets THINK and ACT like it.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  4. #30
    Join Date
    Sep 2005
    Location
    Atlanta GA area
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    21,523
    Quote Originally Posted by classical View Post
    Things are slow but it takes awhile to build something from nothing and navigating the corporate morass is difficult for one that has been basically self employed his entire life.

    Thanks for the well wishes and right back at you. Christmas is going to be great my Granddaughter is almost three now and she is really understanding for the first time the true meaning of CHRISTMAS and that presents are also part of the fun.

    I cannot wait to see here ripping through all the wrapping for me children is what that part of Christmas is all about. Christ is with me every day so CHRISTMAS is special but not the only day I give thanks.
    Totally agree! Having Christ in our lives 24/7/365 is the basis of the Christian life! Celebrating it on a special day is icing on the cake!

    Sounds like you will have a GREAT one this year, glad for you!

    I have my Dad here with me, we are ironing out the issues that kept us apart for most of my life. After Christ being in my life, this is a special treat.

    May the Love of God surround you this season like a warm sweater!
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  5. #31
    Join Date
    May 2000
    Location
    Rochester, NY, USA
    Posts
    14,407
    I think your all missing an important point.

    Taxes are not the issue. Reducing taxes will help. But really needs to happen is to get the government to stop spending and stop printing money.

    QE (Quantitative Easing) is not the answer. And the government must get the banks to start loaning money......thats the key.

    I know a lot of small business's that are stagnant right now simply because the banks won't give them the money they need to expand. I know one guy with a Credit rating of 795 and a "AAA+" he applied for a loan to expand, the bank said "NO"

    Banks are simply not loaning money, period and someone needs to force them to start loaning money
    LOVE has four letters

    So does BEER, DEER,GUNS AND FISH

  6. #32
    Join Date
    Sep 2005
    Location
    Atlanta GA area
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    21,523
    Quote Originally Posted by jmac00 View Post
    I think your all missing an important point.

    Taxes are not the issue. Reducing taxes will help. But really needs to happen is to get the government to stop spending and stop printing money.

    QE (Quantitative Easing) is not the answer. And the government must get the banks to start loaning money......thats the key.

    I know a lot of small business's that are stagnant right now simply because the banks won't give them the money they need to expand. I know one guy with a Credit rating of 795 and a "AAA+" he applied for a loan to expand, the bank said "NO"

    Banks are simply not loaning money, period and someone needs to force them to start loaning money
    You have a point there Yosemitte Sam...

    What I wonder is this: IF the banks have been 'reflated' (bailed out)... why are they not lending again? I do see more bank closures happening, usually by the week. We had three go down here in GA last Friday.

    I wonder if the banks are not liquid enough yet to start the lending cycle yet... maybe the goal is to get the questional banks either fixed or absorbed by others before the lending tree starts to bear fruit again.

    There is one thing I think is important; Business NEEDS to see predictability AND stability from government, so they can make plans. Until business sees stable government policy, they will sit on the cash and watch... HOPEFULLY when the new congress is seated in January, we will get a more business friendly government... and folks will start to plan/expand... which means economic growth and jobs.

    So IMO it really all boils down to this:
    A business friendly government = expanding economy and jobs...
    A NON business friendly government = recession and unemployment...
    Which one do you (not personal, anyone) want?


    The voters sent the message a month ago... I wonder if the prima donnas heard it (yet)... If they did not, they may be looking for a job soon themselves.
    GA-HVAC-Tech

    Quality work at a fair price with excellent customer service!

    Romans Ch's 5-6-7-8

    2 Chronicles 7:14

  7. #33
    Join Date
    Jan 2004
    Location
    Lancaster PA
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    68,556
    Quote Originally Posted by kirbinster View Post

    Bottom line, everyone should pay some income tax, and they should all pay it at the same marginal rate -- that would be truly fair.
    The highest federal tax rate is 35%. So do you think you should pay 35% of your income to the fed only. Not to mention your state and local taxes yet.
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  8. #34
    Join Date
    Feb 2009
    Location
    Canada
    Posts
    6,876
    Quote Originally Posted by jmac00 View Post
    I think your all missing an important point.

    Taxes are not the issue. Reducing taxes will help. But really needs to happen is to get the government to stop spending and stop printing money.

    QE (Quantitative Easing) is not the answer. And the government must get the banks to start loaning money......thats the key.

    I know a lot of small business's that are stagnant right now simply because the banks won't give them the money they need to expand. I know one guy with a Credit rating of 795 and a "AAA+" he applied for a loan to expand, the bank said "NO"

    Banks are simply not loaning money, period and someone needs to force them to start loaning money
    Not enough return for the risk in lending money. Even when they were shoving it out the door they were not making money on lending but in selling the debt to other people.

    Banks do not want to be lenders anymore. They want to to be in the business of 'wealth management'.

    Mind you the banks may have been shying away from making loans because they did not know how much cash they had to carry,

    The announcement (BMO buys Wisconsin bank in US$4.1B deal) comes less than a week after international financial regulators released further details about new capital rules for lenders around the world. Andre Hardy, an analyst at RBC Capital Markets, said the new regulatory clarity is beneficial to Canadian banks by giving them greater confidence around how much capital they can deploy.

    http://www.globalwinnipeg.com/money/...426/story.html

  9. #35
    Join Date
    Feb 2009
    Location
    Canada
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    6,876
    Quote Originally Posted by beenthere View Post
    The highest federal tax rate is 35%. So do you think you should pay 35% of your income to the fed only. Not to mention your state and local taxes yet.
    I thought you had a progressive tax system. One where the first chunk of money gets taxed at a lower rate, then above some level the money above that level gets taxed at a higher rate, and then above the highest level the tax rate is 35%.

    After a quick look
    up to 8,375 - 10%
    above 8,375 - 15%
    above 34,000 - 25%
    above 82,400 - 28%
    above 171,850 - 33%
    above 373,650 - 35%

    So if you make $373,651 you only pay the 35% on the $1.

  10. #36
    Join Date
    Jan 2004
    Location
    Lancaster PA
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    68,556
    Quote Originally Posted by printer2 View Post
    I thought you had a progressive tax system. One where the first chunk of money gets taxed at a lower rate, then above some level the money above that level gets taxed at a higher rate, and then above the highest level the tax rate is 35%.

    After a quick look
    up to 8,375 - 10%
    above 8,375 - 15%
    above 34,000 - 25%
    above 82,400 - 28%
    above 171,850 - 33%
    above 373,650 - 35%

    So if you make $373,651 you only pay the 35% on the $1.
    Sorry. We wish.

    No, if you make $373,651, you pay the 35 percent on the whole thing.
    And if your neighbor only made $373,650, he only pays 33%, so he would actually have more spendable money.
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  11. #37
    Join Date
    Feb 2009
    Location
    Canada
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    Quote Originally Posted by beenthere View Post
    Sorry. We wish.

    No, if you make $373,651, you pay the 35 percent on the whole thing.
    And if your neighbor only made $373,650, he only pays 33%, so he would actually have more spendable money.
    Then wish.

    To take an example, suppose your taxable income (after deductions and exemptions) was exactly $100,000 in 2008 and your status was Married filing separately; then your tax would be calculated like this:

    ( $ 8,025 minus 0 ) x .10 : $ 802.50
    ( 32,550 minus 8,025 ) x .15 : 3,678.75
    ( 65,725 minus 32,550 ) x .25 : 8,293.75
    ( 100,000 minus 65,725 ) x .28 : 9,597.00
    ........................................ Total: $ 22,372.00

    This puts you in the 28% tax bracket, since that's the highest rate applied to any of your income; but as a percentage of the whole $100,000, your tax is about 22.37%.
    http://www.moneychimp.com/features/tax_brackets.htm

    I am really surprised that anyone that pays tax would not know this.

  12. #38
    Quote Originally Posted by printer2 View Post
    Not enough return for the risk in lending money. Even when they were shoving it out the door they were not making money on lending but in selling the debt to other people.

    Banks do not want to be lenders anymore. They want to to be in the business of 'wealth management'.

    Mind you the banks may have been shying away from making loans because they did not know how much cash they had to carry,

    The announcement (BMO buys Wisconsin bank in US$4.1B deal) comes less than a week after international financial regulators released further details about new capital rules for lenders around the world. Andre Hardy, an analyst at RBC Capital Markets, said the new regulatory clarity is beneficial to Canadian banks by giving them greater confidence around how much capital they can deploy.

    http://www.globalwinnipeg.com/money/...426/story.html
    Small Banks were caught short and did not carry enough capitol reserve,based on debt from home loans to some extent, but the big hit is the losses in the CRE market. Bundles and bundles. Their will be no loans until small banks are allowed to fail and be absorbed by larger small banks and those larger banks are absorbed by even larger banks.

  13. #39
    Join Date
    Jan 2004
    Location
    Lancaster PA
    Posts
    68,556
    Quote Originally Posted by printer2 View Post
    Then wish.



    http://www.moneychimp.com/features/tax_brackets.htm

    I am really surprised that anyone that pays tax would not know this.

    That site is wrong in their example. It is not done like that.
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