Tax Deal passes Senate, House, and signed by President

[yo mama]

Never mind the fact that we're borrowing over $800 billion+ for this. (Because *that* won't impact anyone... in our life time). Regardless, we now have new tax landscape to navigate for the next two years.

 

My two cents? Since neither side could "beat" the other with their tax agendas, they decided to sin equally. I guess its okay to be irresponsible as long as everyone joins in equally.

 

Key provisions:

- a married couple can now pass $10mm free of estate tax (up from $7mm per couple, or $3.5mm per individual);

- gift tax and estate tax exemptions are now linked, which means you can actually gift away $5mm of stuff free of gift tax per person;

- maintain current historically low income tax rates for ALL taxpayers (not just rich or poor);

- maintain all-time historically low dividend and capital gains rates;

- this is new: cutting 2% of the 6% of employee payroll taxes that we use to fund Social Security (good for workers now, bad for social security in general); and

- 2 year AMT patch.

 

This - and more! - thanks to your fiscally irresponsible elected officials. I guess this is what "bipartisanship" is supposed to feel like.

Edited December 17, 2010 by yo mama

[moneymakers]

this is new: cutting 2% of the 6% of employee payroll taxes that we use to fund Social Security (good for workers now, bad for social security in general); and

 

 

This part will go down as one of the biggest mistakes in American history.

[Savage Beatings]

I was actually kind of hoping that this would not pass, and that the tax hikes would kick in, and then the newly elected Republicans in Congress could come in and write up their own plan. Oh well. Compromise usually means nobody is happy. Politicians seem to like it that way.

[yo mama]

this is new: cutting 2% of the 6% of employee payroll taxes that we use to fund Social Security (good for workers now, bad for social security in general); and

 

 

This part will go down as one of the biggest mistakes in American history.

I'm going to use my tax savings to buy lottery tickets and porn. American can just print more money when its time for me to collect social security. Right?

[bpwallace49]

-sigh-

 

The craptacular Washington DC express keeps on chugging away . . . . pander to your base, borrow away, cause the only thing that matters is there here and now. Screw the future.

[redrumjuice]

Spending is the problem.

 

The sooner you realize that, the sooner you can quit whining.

[Ursa Majoris]

-sigh-

 

The craptacular Washington DC express keeps on chugging away . . . . pander to your base, borrow away, cause the only thing that matters is there here and now. Screw the future.

I dunno, we keep on and on saying that same old thing but what incentive is there for politicians to look any further than two years? Jeez, not even that, more like 15 months at best.

[evil_gop_liars]

This just in

 

Rasmussen poll reveals 72% of Fox viewers believe that the newly elected house republicans are responsible for cutting taxes with this new Omnibus bill. The poll also shows that 84% of Fox viewers believe that President Obama raised taxes on the working class and rich with this same piece of legislation.

[Ursa Majoris]

This just in

 

Actually, it really isn't funny. The level of intelligence of Fox watchers is collapsing - can't be good for the country.

[bpwallace49]

I dunno, we keep on and on saying that same old thing but what incentive is there for politicians to look any further than two years? Jeez, not even that, more like 15 months at best.

 

There never is any incentive to change. That is why everytime a "new" crop of craptacular politicians gets into office we all think "hey! NOW things will change! NOW the crap will stop and will start behaving responsibly as elected officials!" And it never ever ever happens. At the end of the day the joke is always on the American people . . . . no matter which of the two diaper dirtty parties is in power.

 

[moneymakers]

This just in

 

 

LINK?

[Clubfoothead]

LINK?

 

You are living the link.

[The Mucca]

This just in

 

 

I wonder why

[yo mama]

I wonder why

Sure, because it gives something to everyone without anyone having to pay anything.

 

Why do I suddenly fell the urge to speak greek.

[bushwacked]

Chocolate President Bush.

 

 

Now watch this drive.

[tosberg34]

Sure, because it gives something to everyone without anyone having to pay anything.

 

Why do I suddenly fell the urge to speak greek.

 

Maybe this link will help you understand.

 

And is that Warren Sapp sitting behind him?

Edited December 18, 2010 by tosberg34

[tazinib1]

And is that Warren Sapp sitting behind him?

 

 

 

If it is, thats basically the expression I would expect from the fat tub of chit.

[bushwacked]

I guess this is what "bipartisanship" "double penetration" is supposed to feel like.

 

Fixed.