brentbizzle wrote:Yes, Bush started the bailout process, but he wasn't there to see the payback come in.
I don't know what is happening with the money. Yes I would like to see the debt paid off too. Bill Clinton didn't balance the budget until he was in his second term. I don't know if Obama will have that opportunity but I do know that it takes more than a year to get things done in Washington so the public needs to be patient and see. When Bush was cutting taxes and fighting two wars there was no talk of debt that I recall reading about. I dunno maybe I missed it.
brentbizzle wrote: que13x wrote:The bailouts were Bush's idea too! Where was the anger back when he was president?
I do have to say that this is probably the dumbest thing I've seen you post.
No one in America hung George Bush in effigy when he was still a candidate. No one in the media came out and publicly said they wanted to see candidate Bush fail. No one implied that Bush was an abomination or not a natural born citizen or a non-Christian
before he was president. No one complained about the expansion of government
while he was president either. In fact the "anger" against Bush never really came out until late in his second term. The people were angry about the election but that seemed to have passed after 9/11. Eventually, some did want to impeach Bush. Dennis Kucinich
Democrat from Ohio
brought 30 articles of impeachment to Congress. Nancy Pelosi
Democrat from California
blocked all of them. How ironic. What do you make of that?
I know I sound like I am defending Obama but I am really only making comparisons. I watched the movie
Recount I have read a few books like
Hubris and countless articles online and I make it a point to avoid television. If that makes my posts dumb then don't read them.
From www.kiplinger.com
The new health care reform law is full of new taxes and tax increases that will affect many individuals and businesses. I hope we all are aware that taxes were going up, they had to go up. Unfortunately, it will be years before most of these hikes take effect.
1. A new 10% excise tax on indoor tanning services on services provided after June 30, 2010.
2. The new law gives small firms tax credits as incentives to provide coverage, starting this tax year. Employers with 10 or fewer workers and average annual wages of less than $25,000 can receive a credit of up to 35% of their health premium costs each year through 2013. The credit is phased out for firms larger than that and disappears completely if a company has more than 25 employees or average annual wages of $50,000 or more. Beginning in 2014, small firms that sign up with one of the health exchanges to be created can receive a credit of up to 50% of their costs.
3.
A requirement that businesses include the value of the health care benefits they provide to employees on W-2s, beginning with W-2s for 2011.
4. Elimination of a deduction employers now take for providing Medicare Part D prescription drug coverage to their retirees to the extent that the federal government subsidizes the coverage. This will not take effect until 2013.
5. Doubling the penalty for nonqualified distributions from health savings accounts, to 20%, beginning in 2011.
6. A limit on the amount that employees can contribute to health care flexible spending accounts to $2,500 a year, but the cap won’t take effect until 2013.
7. A ban on using funds from flexible spending accounts, health reimbursement arrangements or health savings accounts for the cost of over-the-counter medications, starting in 2011.
8. Starting in 2013, a 0.9% Medicare surtax will apply to wages in excess of $200,000 for single taxpayers and over $250,000 for married couples. Also, for the first time ever, a Medicare tax will apply to investment income of high earners. The 3.8% levy will hit the lesser of (1) their unearned income or (2) the amount by which their adjusted gross income exceeds the $200,000 or $250,000 threshold amounts. The new law defines unearned income as interest, dividends, capital gains, annuities, royalties, and rents. Tax-exempt interest won’t be included, nor will income from retirement accounts.
.
9. A hike in the 7.5% floor on itemized deductions for medical expenses to 10%, beginning in 2013. But taxpayers age 65 and over are exempt from the cutback through 2016.
10. A new 40% excise tax, beginning in 2018, on high-cost health plans, levied on the portion that exceeds $10,200 for individuals and $27,500 for families.
11.
A new tax on individuals who don't obtain adequate health coverage by 2014. The tax is be phased in over three years, starting at the greater of $95, or 1% of income, in 2014, and rising to the greater of $695, or 2.5% of income, in 2016.
12. Providing a refundable tax credit, once the individual mandate takes effect in 2014, to help low-income folks purchase coverage. To be eligible, a person's household income must be between 100% and 400% of the federal poverty level, generally around $11,000 to $44,000 for singles and $22,000 to $88,000 for families.
13. A nondeductible fee charged to businesses with 50 or more employees if the firms fail to offer adequate coverage. The fee will equal $2,000 times the number of employees, though it won’t count the first 30 workers in that calculation.
I wonder what happens if you find yourself without a job to pay for your health benefits.
Posted: Mon Apr 05, 2010 10:50 pm