Skip to comments.Feds eye retirement-fund tax to cut $16 trillion-plus deficit (Obama's war on savers)
Posted on 04/22/2012 4:44:53 AM PDT by jimbo123
Uncle Sam, in a desperate attempt to fix its $16 trillion-plus deficit, is leering over Americans retirement nest egg as its new bailout fund.
Capitol Hill politicians are assessing tax changes that could let the Internal Revenue Service lay claim to a portion of the $18 trillion sitting in 401(k) accounts and other tax breaks used by middle-class workers, including cutting the mortgage tax deduction.
(Excerpt) Read more at nypost.com ...
No, we get played like illiterate third world idiots get played by the globe trotters.
You didn't answer my question - have you given up driving gasoline-powered vehicles?
BTW, I almost never drive any more, so I am actually doing something to reduce gasoline demand. So don't lecture me unless you are doing the same.
So, tell us what you are doing to reduce or eliminate your gasoline usage - which drives the need to explore for more oil. Also, do you use electricity? Most of that comes from fossil fuels as well. Tell us your plan for eliminating most of your power consumption that is created by such.
We knew years ago the 401K was a sham, and only a matter of time until controlling, bloated corrupt government would gang rape those accounts too.
Tell “us” what you are going to do about globalists shaking down this country and our Treasury.
You are the one complaining about the evil oil companies. So tell us what you are doing to reduce your personal consumption of their production. That is the only way to reduce the need to explore for more.
I've included yours too!
Iran is going to take over the world.
The refineries need maintenance
The speculators are doing it
We're running out of oil
We have plenty
Americans are driving less, so we need to raise prices
The Chinese have millions of mopeds to fuel
There is a leak in a pipe in Moose Jaw Alaska
A rodent chewed through a line at the main pump station in Texas.
Demand is down but we are producing more however, our refineries have been and are being shut down
Prices will go to 6.75, but 3 days before the election, Obama will lower prices to 1.40 to ensure reelection
A school of endangered blowfish have been sucked into a pipe, and it takes time to get them out.
Iran has nukes
Unstable markets worldwide.
A big refinery fire
A small refinery fire
A refinery fire could possibly happen
New gas additives are being developed to make Americans even more stupid
They forgot to build a pipe
They dont like pipes
Rich liberals want the price even higher.
Obama hates the oil industry
The oil industry hates Obama and are hoping this kills his reelection
Liberals want everyone ridding donkeys and bicycles to work as a sacrifice for the planet
We moved more armaments to the gulf because Iran is taking over the world
Wild money printing and massive deficits
Americans love high gas prices
Refinery margins are tight They hardly make any money at all.
The masses have no idea how free market works.
It is being exported because we are making more than we use.
Demand has fallen
We need refinery upgrades and expansion
We are making more than we use so we have to sell it to the Chinese, (They have 1 billion mopeds to fuel , and need to go to work so they can send us more Communist products .
We have plenty of oil, so much so, we need to sell it abroad to keep prices low.
We have plenty of oil, so much so, we need to sell it abroad to keep prices high.
Barry intentionally pissed off the oil companies and seriously limited their profit
The population has increased
The less people drive the higher the price, so you need to drive more.
This is caused by warm weather.
Its caused by cold weather.
We are importing less crude oil and even become an exporter of refined products.
High gas prices have creates jobs and wealth in the US, so we need to export more oil.
High gas prices are good for the economy. When it reaches $6 per gallon, America will be back on track.
We need to reduce or eliminate gasoline usage, which drives the need to explore for more oil.
That is an entirely separate issue from the price of oil - Sara is complaining about environmental impact.
No, I am complaining about not getting anything in return for the risk and not even a guarentee of oil independence for the trouble.
It is public land. And I am not a mile wide, inch deep materialistic libertarian. Life is a little deeper to me than the money of some fat a$$ globe trotter who would just as soon cut my and my Nation’s throat as look at us.
Thanks for clearing that up. As clear as the Gulf of Mexico!LOL
Losing the mortgage interest deduction will raise our taxes by almost $6000 a year
Seeing as $1000 in interest will save you about $200 in taxes, this tells me that you spend roughly $180,000 in real estate loan interest every year. Wow!
To complete my earlier thought, though, I would like to see them do the same thing with the home interest deduction that reagan did with taxes on “the rich”. That is, they removed the deductions, but also reduced the tax rate. This made it fairer and simpler at the same time.
I believed this even when I was able to take the big deduction (including charitable giving, especially.
BP was an abberation in Gulf exploration. And they have been fined billions and lost a good amount of stock value in the process. It is indicative of the larger issues over the last decade of not taking risk management seriously. That has changed by necessity. Even corporations depending upon bailouts realize that can't last forever and are changing their risk management processes.
Meanwhile, keep driving your car, keep powering your home, and pretend that you bear no role in the need to explore for more energy. And if you think nationalized oil companies are the answer, just check the history of such in Mexico and Venezuala.
Oh, and for you to whine about energy independence is the height of hypocrisy. Yours in the mindset of those who seek to make it harder to find oil in this country, which in turn makes it harder to achieve energy independence.
Stop the circle argument. There is no guarentee we get energy independence and therefore, no guarenteed benefit to the US in letting them make a mess of things. The globe trotters could care less about you and the gas for your car. Oil companies and refineries screw up all the time from some degree to another. There is a clear cost and bigger risk to the Nation’s people and no benefit from it. Only the globe trotters benefit.
Dirtboy does not like it that I know that the oil pumped in this country is for the global market - not for this country’s oil independence as advertised. We take all the risk and mess and get no guarenteed benefit in return. Screw that global market “deal.” If we pump it from public land for the purpose of oil independence or the oil “shortage”, we should get it. Otherwise we suffer to feed the industry for all the industry the globalists shipped off to China.
He’s also have a hard time coming to grips with the fact that his beloved oil companies slimed the heck out of the Gulf of Mexico and that it is a big dang deal - losses and terrible.
Globalism, as it is currently constructed, benefits the elitists only. With oil it leaves a nasty deposit on the way out of the country to benefit some other economy - not our’s.
Gawd, you are just plain dumb. Oil is fungible. We don't pump enough of it in this country, we need to import it, because our consumption is higher than we we produce. If things were done your way, gasoline would be HIGHER - because we would restrict our oil for our use - which is not enough - and who would we import it from?
And one reason why such is the case is that people like you - who use gasoline and energy - also shriek about evil oil companies and are suckers for liberal agitprop about energy production.
So stick it where it don't shine - but be sure to remove your head from there first.
Your ignorance and hypocrisy on this thread are staggering - you are the thing of liberal enviro-weenie dreams, an alleged conservative who has no clue how economics works and who pushes for socialized oil and excessive restrictions on energy exploration.