President Obama!

[UpstateNYUPSer(Ret)]

Re: Obamanomics

The mortgage deduction does me no good anymore, but it does help many people. I would hate to see the charitable deduction go away, even though I have never used it(for purely personal reasons), However, some of the richest people in the USA either have set up charity organizations or contributed heavily to them, Remove that deduction and the amount they donate will probably decrease. I have much more faith in the organizations to get that money distributed where it is most needed than I do the federal government.

You and I have had this discussion in the past as to your purely personal reasons and I respect you for them. I contend that charitable deductions work to increase donations as the donor receives a "kickback", for lack of a better word. This "kickback" is about 25% in my case, which is how much I increase my donation by for a net zero gain.

 

[MrFedEx]

Re: Obamanomics

You may be in the 29% tax bracket but I would bet that your effective tax rate is closer to 10-15%. Mine was just under 10% this year.

BTW, they can mess with all of the tax deductions they want as long as they leave the mortgage interest deduction alone.

Yep, you are right. With deductions (including mortgage interest) my effective tax rate is much less.

 

[MrFedEx]

Re: Obamanomics

The mortgage deduction does me no good anymore, but it does help many people. I would hate to see the charitable deduction go away, even though I have never used it(for purely personal reasons), However, some of the richest people in the USA either have set up charity organizations or contributed heavily to them, Remove that deduction and the amount they donate will probably decrease. I have much more faith in the organizations to get that money distributed where it is most needed than I do the federal government.

Relying on the rich to be charitable is a typical Libertarian/Conservative argument and talking point. The problem is, that the need outstrips the giving, and not all of the rich are like Bill Gates.

Substituting churches and private donations for essential public services is a bad idea, and sounds good in theory, but is worthless in practice.

 

[trplnkl]

Re: Obamanomics

Relying on the rich to be charitable is a typical Libertarian/Conservative argument and talking point. The problem is, that the need outstrips the giving, and not all of the rich are like Bill Gates.

Substituting churches and private donations for essential public services is a bad idea, and sounds good in theory, but is worthless in practice.

There ya go again with the talking point nonsense....imagine that.


I didn't say that the rich charitable contributions would offset all the needs, nor did I say that all rich people would contribute. I doubt Soros does much of that unless in an avenue that will do him some personal good.
Don't know what you are calling essential services.
You have it backwards, government handouts replaced churches and private charity and family assistance which covered most of the needs for generations.

I would bet that "Jerry's Kids" would disagree with ya.

 

[moreluck]

Re: Obamanomics

The need is much more than the giving.....so what's your point?.....don't even give because it will never be enough? In that case we shouldn't even try to cut spending because it'll never be enough to reduce the deficit.....OH yeah, that's the Obama way anyhow. I really hate the fatalistic thinking. The "Oh woe is me, oh woe is us " attitude is a sign of weakness and namby-pamby-ness. [video=youtube;JhlWddAXSRA]http://www.youtube.com/watch?v=JhlWddAXSRA[/video]

 

[moreluck]

Re: Obamanomics

 

[moreluck]

Re: Obamanomics

must stop these idiots in Washington!

 

[Babagounj]

Re: Obamanomics

they are money addicts.
the only sure treatment is to remove them from getting any more money.
UPDATE: Half of households pay no income tax...

 

[bbsam]

Re: Obamanomics

they are money addicts.
the only sure treatment is to remove them from getting any more money.
UPDATE: Half of households pay no income tax...

Would that include the lobbyist and the people they represent? If so, I couldn't agree with you more.

 

[moreluck]

Re: Obamanomics

Obama's Tax Hypocrisy....
http://townhall.com/columnists/luritadoan/2011/04/18/obamas_tax_hypocrisy/page/full/

 

[moreluck]

Re: Obamanomics

 

[moreluck]

Re: Obamanation here today

 

[moreluck]

Re: Obamanation here today

I guess the W.H. was keeping this un-announced.....$2.8 billion to Cartegena,
Columbia for an oil refinery . Supposedly, the building of this refinery is suppose to use just U.S. made equip. BUT the refinery will be wildly profitable....why there and not here???

I keep getting the feeling the pres. is a traitor and selling us out.

No, I'm not providing the link.....it was on Eric Bolling's visit on Fox......find it yourself.

 

[moreluck]

Re: Obamanation here today

 

[moreluck]

Re: Obamanomics

 

[trplnkl]

Re: Obamanomics

Would that include the lobbyist and the people they represent? If so, I couldn't agree with you more.

IMHO, they should be the first out the door.

 

[moreluck]

Re: Obamanomics

They pooh pooh the downgrade, but they tried to stop it.....
http://www.foxnews.com/politics/2011/04/20/obama-officials-tried-convince-sp-issue-credit-warning/

 

[hubrat]

Re: Obamanation here today

That last one is extremely culturally biased.

 

[hubrat]

Re: Obamanation here today

That one.

 

[moreluck]

Re: Obamanation here today

That last one is extremely culturally biased.

Who's culture?? The Texans ?? The Chicagoans? The biracial peeps? The television interviewers? The politicians? You must be more specific.