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  #31  
Old 05-14-2015, 02:28 PM
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Originally Posted by Dudesky View Post
I realize that......its the comments on what you and I have in the banks and how the powers that be look at it, should be of interest.
His comments are just that - comments. And taken out of context in this instance. If his goal was to nationalize the banks, then why didn't he do it when he had the opportunity to do so during the height of the great recession?

The gov't did indeed help the "too big to fail" banks as part of the Fed's stabilization strategy; however, none of those banks were nationalized. They have since repaid the TARP money and are now operating independently without any gov't intervention, except for normal financial regulatory oversight.
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  #32  
Old 05-14-2015, 02:59 PM
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Back to raising people out of poverty....

One thing that many, but not all, poor people have in common is that things are not that important to them. Family is the most important thing.

So if you are some working slob and your brother, who is still a slob but not the working type, needs some cash to tied him over until his next chance at a job comes through taps you on the shoulder and says he needs help you help. That's because family comes first.

The thinking here is that you are helping. But you are not. You are enabling. It is better to try and help your brother to find a job than it is to keep constantly picking up his bills. His behavior is bringing both of you down but neither of you see this.

Another way to escape poverty is as simple as building up a savings account of $1,000 and not touching it unless it is a life and death thing because someday it will be. This is a ton of money to some folks so they need to start now and put away a few dollars a week. Then, when they get a speeding ticket, they can pay it and not wind up laying it out in jail at $10 a day. While they are in jail they are likely to be fired from their job and when they get out they will have a tough time finding another one. So deeper into poverty they sink and they tend to take their family with them.

So a bit of a cushion is necessary.

And all of this may seem like common sense to most of us here but when you tell someone who has been bought up in poverty these things you can almost see the light bulbs going off in their heads. It is like they have been to the mountain top and handed some great truth that only the chosen few are aware of.

Climbing out of poverty is not easy, but it is not also not hard. And only a few things need to change in a person's life to make the difference.
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  #33  
Old 05-14-2015, 03:27 PM
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Originally Posted by 97 SL320 View Post
When a person that screams that the rich should pay taxes at a very high rate, will they still be OK if most of their lottery winnings were taxed away if they win?
The pResident using lottery winners as needing to pay their fair share was total buffoonery. The big lottery winners get 40% (or so) deducted and paid in taxes before getting the remainder of their lottery win. Maybe he needs to get briefed on; "lottery winners."


His own "lottery win" of free private educations @ Occidental, Columbia, finally culminating with Harvard Law School, takes the cake. Maybe he should set an example advising us how much $ he is paying every year in "fair share taxes of his lottery winnings?"
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  #34  
Old 05-14-2015, 03:31 PM
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Isn't this thread about federal taxes, and BHO wanting more from a small percentage of citizens

Last I heard there is no federal sales tax. Much to their chagrin.

Payroll taxes on the lower earners are returned at tax time in most cases that is where the forty or so percent pay no federal taxes comes from.
Taxes on phone and utilities are state/local taxes for the most part.
That's it.
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  #35  
Old 05-14-2015, 03:33 PM
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Originally Posted by Skid Row Joe View Post
The pResident using lottery winners as needing to pay their fair share was total buffoonery. The big lottery winners get 40% (or so) deducted and paid in taxes before getting the remainder of their lottery win. Maybe he needs to get briefed on; "lottery winners."


His own "lottery win" of free private educations @ Occidental, Columbia, finally culminating with Harvard Law School, takes the cake. Maybe he should set an example advising us how much $ he is paying every year in "fair share taxes of his lottery winnings?"
In theory, and in law, you are supposed to pay income taxes on lottery winnings no matter how small they are. In practice this never takes place unless the winnings are over $600. (That's in Texas.)

That's because any winnings under $600 are paid on the spot. Winning above that amount need to go through the Commission in Austin to get paid. And that points a paper trail right to the IRS.

But the majority of winnings are below that number. So the question becomes is it worth it to try and tax such a small amount as $10 won on a scratch off twice a year? Maybe with the tech we have today it is.

Of course other states might have different limits on the amounts. I can only speak for Texas and even they could change it if they wished.
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  #36  
Old 05-14-2015, 05:38 PM
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Originally Posted by ruchase View Post
His comments are just that - comments. And taken out of context in this instance. If his goal was to nationalize the banks, then why didn't he do it when he had the opportunity to do so during the height of the great recession?

The gov't did indeed help the "too big to fail" banks as part of the Fed's stabilization strategy; however, none of those banks were nationalized. They have since repaid the TARP money and are now operating independently without any gov't intervention, except for normal financial regulatory oversight.
But it has crossed his and others minds nonetheless. That's the key.
It has been mentioned by several in congress of the vast amounts of idle cash sitting in retirement funds, 401's and the like by more than one administration and what good could be accomplished if 'we' could access it.......

We still have some 19 months left.
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  #37  
Old 05-14-2015, 05:42 PM
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Originally Posted by Skid Row Joe View Post
The pResident using lottery winners as needing to pay their fair share was total buffoonery. The big lottery winners get 40% (or so) deducted and paid in taxes before getting the remainder of their lottery win. Maybe he needs to get briefed on; "lottery winners."


His own "lottery win" of free private educations @ Occidental, Columbia, finally culminating with Harvard Law School, takes the cake. Maybe he should set an example advising us how much $ he is paying every year in "fair share taxes of his lottery winnings?"
It's not the birth certificate, its fraudulently getting foreign student aid that's the real issue.
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  #38  
Old 05-14-2015, 05:48 PM
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Originally Posted by Dudesky View Post
It's not the birth certificate, its fraudulently getting foreign student aid that's the real issue.
And what a crisis invoking issue it is.

snopes.com: Barack Obama Was a Foreign College Student?
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  #39  
Old 05-14-2015, 05:51 PM
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Originally Posted by MTI View Post
"The rich" have the means and ability to live wherever they choose, however how many US capitalists have abandoned their citizenship or business operations in the US to avoid personal income taxes? Warren is still here, along with Bill, Tim, Elon, Sidney, the two Larrys . . .
A massive number do a lot overseas. You can still be a US citizen and offshore like crazy.

Apple is probably about the highest profile example. FCA moved their HQ to London, so now my new truck is either what British or Italian?

Do you think those guys like Tim spend millions, upon millions, upon millions on fancy houses in Cayman and marinas just because its so pretty? No taxes man.
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  #40  
Old 05-14-2015, 05:53 PM
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Originally Posted by MTI View Post
And what a crisis invoking issue it is.

snopes.com: Barack Obama Was a Foreign College Student?

Only way to snopes the issue is if oBama opens up all his college records
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  #41  
Old 05-14-2015, 06:56 PM
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Only way to snopes the issue is if oBama opens up all his college records
As with the Hawaii birth certificate, it wouldn't matter if he did or didn't.
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  #42  
Old 05-14-2015, 07:49 PM
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Originally Posted by MTI View Post
As with the Hawaii birth certificate, it wouldn't matter if he did or didn't.
Birther issue created ala democrat Hillary operatives so its been reported........LOL

Enough out there to cast a reasonable doubt regarding student aid.
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