Are you in the 2% they keep talking about?

Discussion in 'News and Politics' started by 4hunting, Dec 12, 2012.

  1. 4hunting

    4hunting Well-Known Member

    What a wonderful day I have had. Had a talk with my CPA & did I get some wonderful new, found out I might be in this dreaded 2% they keep talking about when it comes to all these new taxes they want to put into effect. And the great news is, I would suspect alot of you all are also. Seems the "Smoke & Mirror" show has started to clear & now the CPA's can see what is really in this Obamacare deal. As they put it to me, if you work, consider yourself part of the 2% cause everyone who works is fixing to get hammered come Jan 1. Just some of the things they pointed out to me are under this deal they are phasing out the $3800 person tax credit all people take when they file, they are cutting the dependant child care deduction in 1/2, to claim medical deductions one must first have $10,000 in out of pocket expence before any can be taken, they are raising the withholding taken out of your paycheck & also require the employeer to pay more also. And they keep screaming about we need more higher education, they have now decided to do away with alot of eduction deductions, if a kid wants to work his way through school, he also needs to pay, they are doing away with the $5250 exemption on income given to collage kids, now starting in 2013 under Obamacare, that amount is fully taxable. And on top of that, if you have finished school, have a bunch of debt, they are also phasing out the interest deduction one can take that applies to the debt owed.

    In short, as my CPA told me, NO, they might not be directy raising taxes on the middle class with the exception of the payroll tax increase, but by doing away with all deductions we have had over the years, they are in fact moving everyone up a bracket or 2 in the income scale as far as tax rates go, thus like I said, more of us might be in this dreaded 2% group than we think!!! In short, they said just on an average, a familiy with 2 kids making $50,000 needs to be prepared to not having 3 to 5 thousand a year to spend as they had before because it will go towards this non-tax increase they say they have not put on the middle class!

    Here is link I found that kinda goes over some of what was talked about:


    http://moneymorning.com/2012/09/21/...changes-mean-less-take-home-pay-for-everyone/
     
  2. So the 2% is really about 80% of the people that work?
     

  3. thompson

    thompson Well-Known Member

    6,609
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    Is anyone really surprised ?
     
  4. SwampCat

    SwampCat Well-Known Member Lifetime Supporter

    What are you - a Scrooge? Get in the Christmas spirit, man. We have all been taught it is better to give than receive. Now you get to give even more - year round, too. That should make us all feel really good. YOU might not be able to afford Christmas presents for your kids, but at least you will have the satisfaction of knowing there are plenty of Obama phones and food stamps for those who want them.

    I swear, I am literally sick - knowing what this country has become. The increased taxes don't negatively affect a lot of those who voted for obama - they are the ones reaping the harvest - at our expense.
     
  5. beltcutter

    beltcutter Well-Known Member

    Like the old song from the early 70s....

    "Tax the rich, feed the poor, till there are rich no more...."

    If you are middle class you ARE rich these days!
     
  6. stealthycat

    stealthycat Elite Member<br>2015-16 Bow Hunting Contest Winner

    thank you rocket for you and your buddies voting Obama in another 4 years
     
  7. deltabowhunter

    deltabowhunter Well-Known Member

    I saw a chart last week that was the same chart on several financial sites. Basically, I can expect to pay over $14,000 more in taxes next year. I'm pretty annoyed about it all. I could probably take a job sweeping floors part time at McDonald's and come out better.
     
  8. fullcredit

    fullcredit Super Moderator Staff Member Sponsor

    I gotta ask ya 4hunting. Is this an actual conversation you had or something that was forwarded? I'm afraid it's an actual conversation though. I don't mean to disrespect you at all by asking, but in this day of Internet sensationalism, a fella doesn't know what to believe.
     
  9. Mr. Chitlin

    Mr. Chitlin Administrator Staff Member Supporting Member

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    Probably could. Your income would be low enough to qualify for all kinds of free gubmint handouts.
     
  10. Buck-Ridge

    Buck-Ridge Well-Known Member

    Obama isn't good at math the 2% he is talking about is actually everyone who earns money through work.
     
  11. JohnnyMac

    JohnnyMac Well-Known Member

    Notice how they timed all the BS to start just after the election. They couldn't have anyone knowing what Obamacare really meant beforehand could they?

    I truly hope that every single working American that voted for Obama in 2012 ends up losing their job and financially ruined. People must learn that their bad decisions do indeed come with consequences.

    Unfortunately a lot if people who did not vote for this empty chair will also suffer.
     
  12. Buck

    Buck Well-Known Member

    Full Credit my cpa told me last week that the irs is doing away with the 10% or the 15% bracket.I dont remember which one,and also doing away with the 25% bracket. I was told that in the same scenero as this year I would be paying 10,000 more next year in taxes. I am getting tired of supporting these non working scumbags. We can only be pushed so far.
     
  13. Time to stay home and buy some cows........ :clap:
     
  14. fullcredit

    fullcredit Super Moderator Staff Member Sponsor

    This is all so aggravating. Work hard, pay your bills, heck, I'm even paying my house off early. Planning to retire in another year or so and now this. Pay more so others can continue to mooch off of those of us who work. It just aint right.
     
  15. 4hunting

    4hunting Well-Known Member

    You right, don't know what is fact or what is fiction in these days, so it best to ask folks who are suppose to be experts in the field, this is what some of the stuff the experts I pay a pretty penny to each year told me is coming down the pipes to the best of their understanding just for the average working man. If you really want to go in shell shock, wait until folks start to find out what the owner of the business is going to have to do and will no longer be allowed to do. Alot of these working folks might not have a place to even work at, so alot of it might end up being a total non-issue, they will have to be going to Obama with hat in hand asking for help. Might be the total intent of all of this, make everyone totally goverment dependant.
     
  16. Mr. Chitlin

    Mr. Chitlin Administrator Staff Member Supporting Member

    72,546
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    NE Ark
    moar.jpg
     
  17. johnf

    johnf Well-Known Member

    Just got off the phone with my sister a CPA with her own office. Here's the skinny. The social security tax will go up on everyone from 4.2 to 6.2% and the child tax credit will go from $1000 to $500. They aren't sure which tax bracket will be done away with. It will either be 10 or 15% maybe both. That will be voted on. So all of us may jump to the 25% tax bracket. If that's the case, those in the 25% bracket will go up and so will the folks in whatever is above that and so on. Of course nothing changes for people who are not paying taxes and those folks getting thousands of our dollars under the earned income credit.:down:
     
  18. Now ur getting it........
     
  19. Hill Farm Hunter

    Hill Farm Hunter Well-Known Member

    The 2% SS tax increase just puts it back where it was before Obuma "gave" us a stimulus bu cutting back the money being paid in to an already underfunded program. That will take care of my raise next year. So much for a COLA.
     
  20. Vern Humphrey

    Vern Humphrey Well-Known Member

    It's everybody that works. People who are too lazy to work need new cell phones, and who do you think is going to pay for them?