http://apiexchange.com/index_main.php?id=8&idz=236

I know that government already taxes you on investment income up to three times.  If it isn't taken out pre-tax, you have income tax on it, while it sits there you pay taxes on the interest, and when you try to take it out, you get taxed again, heavily.  But how it it going to help the economy as a whole to increase the "penalty" on on investments?  Don't investments help business?  I am no economist but isn't this kind of cutting off ones left foot to spite the right?

I have a feeling under the Ryan plan, this is all about to change.

Ya gotta love this terminology, Unearned Income Medicare Contribution, but what if I don't want to contribute, well the IRS will audit the Hell out of you, which is proof, that no matter what you call it, it's still a tax.

QuoteUnder the law, the investment tax provisions in Chapter 2A of the Internal Revenue Code are placed under the heading "Unearned Income Medicare Contribution." In general, this new Medicare tax will apply to investment income that is subject to income tax, which includes capital gains.

I think you are right, what concerns me is that didn't the house pass legislation that would protect us from this already, but Harry Reid won't look at it?  Now it has to wait for the Senate to return from "vacation" and it might even get pushed to a lame-duck session.  What happens with this if both Harry Reid (possible loss of majority) and Obama (if he loses) have nothing to lose by not extending the tax cuts?   

Quote from: JustKari on August 11, 2012, 10:36:45 AM
I think you are right, what concerns me is that didn't the house pass legislation that would protect us from this already, but Harry Reid won't look at it?  Now it has to wait for the Senate to return from "vacation" and it might even get pushed to a lame-duck session.  What happens with this if both Harry Reid (possible loss of majority) and Obama (if he loses) have nothing to lose by not extending the tax cuts?   

If that were to happen, you can be assured there would be a new Bill presented immediately after Romney and Ryan take office.
Ryan if memory is correct, authored the Bill Reid is sitting on.

As long as you don't manage to cut spending drastically, there's no other way than raising taxes in America.

For the rest of the world you start looking rather foolish with your debt and money printing and at the same time being strictly against raising taxes - or paying taxes at all.

I have nothings against an efficient, small government at all. But as long as you don't have that, stuff needs to get paid for. But you don't seem to realize that, so you print money and turn into China's debt b*tch. Sorry, but that's how you look right now.

Quote from: Foreigner on August 22, 2012, 07:49:57 PM
As long as you don't manage to cut spending drastically, there's no other way than raising taxes in America.

For the rest of the world you start looking rather foolish with your debt and money printing and at the same time being strictly against raising taxes - or paying taxes at all.

I have nothings against an efficient, small government at all. But as long as you don't have that, stuff needs to get paid for. But you don't seem to realize that, so you print money and turn into China's debt b*tch. Sorry, but that's how you look right now.

Maybe this will help you understand the issue a bit better.
From the CBO...
"He added that under current law, there will be 2 million fewer jobs if the fiscal cliff is allowed to take place, and said most of the contraction is due to the tax increases."
http://thehill.com/blogs/on-the-money/budget/244703-cbo-warns-of-deep-recession-if-congress-fails-to-act-on-fiscal-cliff

And this video might help as well.

http://video.foxbusiness.com/v/1652926726001/cbo-economy-likely-to-fall-of-cliff-if-bush-tax-cuts-expire/

Yeah, right. "Taxmageddon". Haha, I think most Americans are in fact being scared to act against their own interest.

On the other hand it's just sad to see your once great country being completely helpless as times are changing. I'm not joking, I really find that sad, because I have serious plans to make it over there. And I'm going to look like an idiot to justify it, if you don't get your sh... stuff together.

It's funny that no one talks about government greed..........................an entity that produces nothing.

This list is incomplete. I don't even see capital gains tax.

http://whatistaxed.com/other_taxes.htm

Quote from: Foreigner on August 30, 2012, 09:53:54 PM
Yeah, right. "Taxmageddon". Haha, I think most Americans are in fact being scared to act against their own interest.

On the other hand it's just sad to see your once great country being completely helpless as times are changing. I'm not joking, I really find that sad, because I have serious plans to make it over there. And I'm going to look like an idiot to justify it, if you don't get your sh... stuff together.

It's going to fun to watch you guys squirm if Obama gets a second term. Remember when he accidentally got caught on tape, basically telling the Russians that he would eliminate the missile defense shield?

Now why in the world would the Russians want that gone?