Posted on 01/01/2013 9:51:43 AM PST by Para-Ord.45
It's hard to rundown all the spending/tax hike ramifications since they passed the damn thing at 2am on New Years Day but the politics of the deal are quite clear.
WH tells colleague Ed Henry Obama broke R's tax pledge. Calls it "1 of the most consequential policy achievements of the last couple decades And what did the GOP get for this? Nothing.
I doubt the House GOP has the stones to decline this invitation to sign their own death warrant.
But don't worry guys...we'll get those spending cuts in the debt ceiling deal! This was the key surrender that will catapult us to victory!
(Excerpt) Read more at ace.mu.nu ...
The 2% cut in SS tax was let lapse, so it will go back up to where it was for everyone. Taxes on dividends and capital gains go to 20% from 15% for those making 400,000 or over. Other provisions pro and con on limits and caps and such.
Some key achievements, some concessions. Hardly a catastrophe.
The next leg, on debt limit and spending cuts will tell the tale.
If they cave to this I am done. I will live out my days as the stupid peasant and watch the liberals drain the nation. I have a good mind to drain my accounts and pretend to bury it around somewhere. I will have fun with these collectives.
We need to adjust our strategies to defeat a bunch of Shills, pickpockets, thieves.
That requires a willingness to brawl with the dims. Like Romney in the first debate hammering the kenyan on “green” crony capitalism. We need to hear those jabs every day but I don’t see it happening. These beltway GOP guys/gals are careerist ticket punchers who avoid conflict with the MSM/dims at all costs.
The obsolete cut in reimbursements to medical providers was voided, meaning that Medicare will still pay doctors enough to keep them in business seeing your granny.
Shoring up Obamacare, another win for the GOP. Do you work for Rep. Boehner? This entire process was a FAIL cluster by the GOP. I am not sure why you are finding these are “key achievements”.
I was in the martial arts for many years. One thing that I learned is that one style of fighting doesn’t win every fight. And fighting in a ring is way different than fighting in an alley. You don’t always have to jab.
Umm, not according to this guy:
This will destroy S-Corp (small business) tax-return-filers.
Note that I didn’t say “decimate”, because that implies a mere destruction of 10%.
Further note: Tax rates (being played with here) and tax receipts (pretended to grow here, but that’s quite unlikely) have absolutely nothing to do with government spending, the debt, and the fiscal cliff.
Punishing work is absolutely crazy, negative in every possible way for society and prosperity. The income tax itself is batsh*t stupid.
Mikla Tue, 01/01/2013 - 10:40 | 3111958mikla
Because S-corp includes the business profit/loss on the personal return (there is no filing for the business separately), a small-business owner receiving $50K in “income” (salary+ bonuses) would appear to *also* have received all of the profits from the business, even though the small-business-owner did not actually receive that money to buy yachts (that money is re-invested into the business, and not actually received as “income” to the owner; but it is considered income, so it is taxed).
This is especially important/painful to any small-business that needs to build a “capital-reserve”, since any “lines-of-credit” from banking institutions to small businesses are no longer reliable (cannot be gotten, nor trusted, because they are commonly being “withdrawn” by the bank without notice and for no reason).
Note that C-corp Google and Apple don’t have this problem — they can move the business income to ensure that it is not “received” (is not counted as “dividend” nor “profit”), and thus not “taxed”.
Yes, many small businesses might be able to move from S-corp to C-corp, with restrictions, and expense (different and more costly rules now apply), but not retro-actively.
This is probably part of the intended effect. The current government *hates* small business, because only “large” businesses hire lobbyists. Large businesses are easier control, and to shake-down for cash. (I’m not joking here.)
Obama did not destroy the GOP, he just set the table to expose the fact that there are two GOP’s. One is the elected GOP, who votes with the DC establishment and the other is the rest of us. The RINO establishment has no support in the country. Let’s hope we can replace these entrenched politicians with real people in the primaries.
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