Nothing else needs to be added for this Obama tax hike:
Married? That table is after the jump:
Articles tagged as
Taxes
Tweet of the Day – Week – Ever? on Unions Vs Right to Work?
Fellow Grokster(ette?) Susan Olsen dropped this into our email this morning. No, not ‘the royal ‘Our’ as in the royal ‘we,’ as in ‘We are not amused.’ I mean “Our” as in our Grok group email. Anyway, this hits it out of the park on Michigan and Right to Work, and the Unions and Democrats and Obama (oh, My!), or anyone for that matter, squawking about benefits for those who accept the choice to not have to pay dues…
This guy is officially Our hero. I am embarrassed that We didn’t think of it first.
Has Jeanne Shaheen Had A Come To Jesus Moment on Taxes?
Eighteen Democrat US Senators have sent a letter to Harry Reid requesting that the Medical Device tax portion of Obama-Care be delayed. The letter does not say it directly, preferring to dance around the issue, but it is obvious that these 18 Democrats, New Hampshire Senator Jeanne Shaheen among them, believe the Medical Device tax … Read more
Data Point – Federal Subsidies for electric power
Yes, the enviros can complain that coal gets more of a subsidy than solar; true enough. Add the subsidies for the top 4 items vs the renewables? No contest – fossil fuels get $4.557 billion while renewables get $5.954 Billion. In the end, however, is what is the bang for the buck. It … Read more
Only in the minds of DC tax-grabbers is my house a “tax loophole”
I had seen this before but when I read it again, the only thoughts I have is “Is this my house or the Government’s?” and “At what point does Government’s stash no longer needs more of my [much diminished] stash?” when looking at “tax loophole” that I take advantage of when I, well, live in my home :
…to the technocrats in the federal government, the tax you don’t have to pay on the value of rent you don’t have to pay because you own your home is a loophole. Read that last sentence again. Its called “The Imputed Net Rental Income on Owner-Occupied Housing” and the feds include it in their annual list of “tax expenditures.” That term is how Washington officially refers to credits, deductions and exemptions. Here’s how the federal government describes it:
Under the baseline tax system, the taxable income of a taxpayer who is an owner-occupant would include the implicit value of gross rental income on housing services earned on the investment in owner-occupied housing and would allow a deduction for expenses, such as interest, depreciation, property taxes, and other costs, associated with earning such rental income. In contrast, the Tax Code allows an exclusion from taxable income for the implicit gross rental income on housing ser- vices, while in certain circumstances allows a deduction for some costs associated with such income, such as for mortgage interest and property taxes.
Let’s say you own a home and your mortgage is $1,000 a month. If, however, you instead rented the home from a landlord your rent, let’s say, would be $2,000 a month. To the mandarins at the IRS, you are “earning” an implied $1,000 a month because you own and not rent, and that “value” should be added to your taxable income. If you own your home out-right and don’t have a mortgage at all, you would be “earning” $2,000 a month which the IRS thinks should be added to your taxable income.
A perfect example of why there is frustration with the GOP
The grassroots within the Right of the Political aisle formed the TEA Party – Taxed Enough Already. As being pointed out this morning on the talking head shows, if we go over the Fiscal Cliff, there are more than a few states, combined with Fed taxes that will take effect, will have residents that will … Read more
It’s only one small, teeny-weeny bite….right? Who could it hurt?
It seems that US House Speaker John Boehner is being sorely tempted? His words about semi-caving into Obama’s demands on new taxes, new spending, and new debt ceiling limits show us that he’s already got his eye on the prize: How well will the new NH Republican legislators resist the same temptation, especially under … Read more
Britain – the Productive are already “going Galt”
From TaxProf Blog: The Guardian: Two-Thirds of Millionaires Left Britain to Avoid 50% Tax Rate: In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs. This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income … Read more
Data Point – Federal spending; the curve
What happened in 2007 to elevate spending? A Democrat controlled Congress. Just like in NH, but that started in 2006. That money has to come from somewhere. Emphasis on “where” is all that Democrats think of rather than on what Conservatives believe, which is someone. It is sad that Democrats hate people. … Read more
Blood and Water – The Return of Democrat Rule in New Hampshire
Skip broke the news (on the Grok) about New Hampshire State Government’s department heads making budget requests that would increase state spending by 26% in 2013. If you had any delusions about who or what state agencies represent, you just got your answer.
It ain’t you. It’s them.
In the current economy, with no regard for whose money they are spending, incoming governor Maggie Hassan would have to raise taxes and fees by at least 19% to fill all the requests. AFP-NH estimates that this would extract around 700 million dollars from the people of New Hampshire to pay for new spending that would never go away. So that’s 700 million from every budget henceforth and anon, plus new new spending each budget there after….these are Democrats if you recall, there is no enough when it comes to spending your money.
And that $700, 000,000.00 (million) is ironically close to another sum we readily associate with New Hampshire Democrats.
Escape from California?
They’re not only talking about getting out of California (see below)…they’re talking escape from America. An interesting read.
Data Point – The Rich DO pay more in taxes
All Obama and the Dems can say is that certain folks don’t pay their fair share in taxes. I know that there are some socialist / Progressives that would be fine with taking it all after a certain point (“you should not be able to make more than $5 million per year!”) and a high percentage on everything before that. Equality, they say. But the way they talk about it, the rich pay next to nothing; hardly:
| % income tax paid | |
| Adjusted gross income | as a share of AGI |
| $1 to under $10,000 | -13.6 |
| $10,000 to under $20,000 | -11.5 |
| $20,000 to under $30,000 | -3.7 |
| $30,000 to under $50,000 | 3.1 |
| $50,000 to under $100,000 | 7.5 |
| $100,000 to under $200,000 | 12 |
| $200,000 to under $500,000 | 19.6 |
| $500,000 to under $1,000,000 | 24 |
| $1,000,000 to under $1,500,00 | 24.9 |
| $1,500,000 to under $2,000,000 | 25.1 |
| $2,000,000 to under $5,000,000 | 24.9 |
| $5,000,000 to under $10,000,000 | 24.2 |
| $10,000,000 or more | 20.7 |
As the chart shows, the only folks paying nothing are the poor – and with the EITC, the govt actually pays them. I bet you’re noticing “Skip, look at the top two brackets – they are paying LESS – you LIE!”. Er, no – and this is where the Dems pull the magic trick of demogoguing over the low-information voter:
Data Point – Fed spending / income
(H/T: The Blaze)
Data Point – Govt doesn’t like you giving your money away without getting a cut
Sounds like the Mafia, right – “a cut”. But what other takeaway can there be to this but that Govt wants us to be less charitable – but they want more: In 2012: you can give a tax-free gift of up to $13,000 per person. If you’re married, you and your spouse can each make … Read more
Obama Care is Coming, Obama Care is Coming…
There’s a great article at American Thinker about what you should expect with the rising bureaucratic tide that is the Patient Affordable Care Act. Read it. Share it with a liberal and watch the veins pop out of their foreheads. It is a very real world assessment of what we face.
For our purposes here, however, I wanted to post a snippet of the content, in the form of a list of taxes that are coming along side, that you can just heap on top of everything else bad that is in store for us in the coming months and years thanks to Democrats.
What you need to accept, regardless of what the screaming fairness harpies on the left try tell you, is that any and every tax the government imposes on so called big business, or declares as just making sure “they” pay their ‘fair share’ will find its way down to you as higher prices, fewer jobs, less access, or poorer service. And that’s before the corruption and abuse, the scapegoating, and the very shocking fact that spending trillions a year to give insurance to a few million may allow you to claim they are “covered” but because of all the other factors that come with that, they’ll inevitably end up have to look harder and wait longer for even the most basic care, the quality of which will. inevitably. decline.
The abbreviated list of new taxes is on the jump, some of them related to Obama Care, others are just the product of the negative side effects of Democrat rule, but all of them are coming…soon, and what you need to ask is–what will this do to both health care and a struggling economy?
The real cost of Obamacare – one individual’s lament at being hurt, not helped
Emphasis mine – and I thought that “Progressive Government” is supposed to solve problems – not make things worse? It’s like I have said for years: The Bigger the Government, the smaller the citizen. In this case, my friend sees himself getting smaller thanks to Government decisions “for him”. Skip, The numbers were posted yesterday. … Read more
Which Tax Lotto
New Hampshire House Democrats are going to raise taxes and fees, the real fun is which one first and how soon?
My money is on the tobacco tax and I’d be suprised if it didn’t hit the committee table on the first day of the first session and find it’s way to the House floor in record time. Given the somewhat spinless make-up of the Republican caucus in the State Senate, I could not guarantee that it wont just flush through that chamber like s**t through a goose and come out the other side with Maggie Hassan’s signature on it.
The end result will be fewer sales of cigarettes and tobbaco products in New Hampshire. That’s what happened the last time the Democrats raised the tobacco tax. And if we need a cautionary tale to guide us on why this will happen again, we can look to the Peoples Republic of Denmark for help.
Guest post by Ed Naile, Chair of the Coalition of NH Taxpayers: A note to out-of-state Property Owners – Vote!
Ed Naile, long time registered Democrat and ‘Grok friend, asked us to publish this. Given that out-of-state student “residents” took full advantage of the new Voter ID law and the Judge Lewis’s ruling on it, you should as well. After all, you pay taxes here – they only take advantage of the taxes spent. Dear … Read more
There is a reason Obama didn’t want Obamacare really implemented until after the election
Just got this via email – names taken off to protect the screwed: I just got my Open Enrollment Package from my company’s Human Resources Dept. I guess I should have been more aware of how Obamacare will impact me on 1/1/13. Well my paycheck will be significantly smaller. Not only did my health and … Read more
Notice us up there, in the upper right corner?
Below is a map showing the “business tax climate” in all 50 states. The worst such states are in dark blue. The best states are shown in white. Notice that there’s not one “small business friendly” state in the entire northeast? Other than New Hampshire, that is! And notice that four of the worst 10 states for small business are … Read more