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(Forbes)   Raising taxes on the rich actually helped some people who make around $500k a year due to an obscure rule called AMT addback. This just happens to include people like the President   (forbes.com) divider line 15
    More: Obvious, Raising Taxes, Alternative Minimum Tax, President Obama, presidents, obamacare, itemized deductions, interest income, computing platform  
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7879 clicks; posted to Main » on 13 Apr 2014 at 7:16 PM (22 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
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2014-04-13 07:23:17 PM
6 votes:
a series of tax increases

I love how letting a portion of what was supposed to be a temporary tax cut expire counts as a tax increase.
2014-04-13 07:34:49 PM
3 votes:
fusillade762: I love how letting a portion of what was supposed to be a temporary tax cut expire counts as a tax increase.

Seriously. That same thinking turns

Because the President's book revenue was down, he contributed $90,000 less to the Fisher House Foundation, an organization that helps military families.

into "President Obama took $90K away from military families."

2014-04-13 09:22:31 PM
2 votes:

ultraholland: fusillade762: I love how letting a portion of what was supposed to be a temporary tax cut expire counts as a tax increase.

Seriously. That same thinking turns Because the President's book revenue was down, he contributed $90,000 less to the Fisher House Foundation, an organization that helps military families. into "President Obama took $90K away from military families."


When VA funding goes from a 5% increase to a 4% increase, headlines say, "REPUBLICANS SLASH VA FUNDING." Fair's fair.

Also since the president was including in the fark headline, subby is a racist.
2014-04-13 09:15:00 PM
2 votes:

FlyinS: cchris_39: This is ridiculous. We need major simplification.

I took my masters in accounting in 1984 and passed the CPA exam a year later. That and 30 years experience and I'd give myself a 50/50 chance of getting that return correct without relying on tax preparation software.

The average American with the average return should be able to do their own return by hand in an afternoon.

They easily can unless they're wholly retarded.


The average American CAN do their return by hand in an afternoon. But they'll pay H&R BLock $250 to do their 1040-EZ so they can get their refund anticipation debit card product so they can get their refund 1 week faster, even though if they adjusted their withholding correctly they would have had that money all along instead of giving an interest free loan to the government.

Ergo, tax return = savings account for average people minus huge charges and fees that go to the private tax prep industry.
2014-04-13 08:15:12 PM
2 votes:

cchris_39: This is ridiculous. We need major simplification.

I took my masters in accounting in 1984 and passed the CPA exam a year later. That and 30 years experience and I'd give myself a 50/50 chance of getting that return correct without relying on tax preparation software.

The average American with the average return should be able to do their own return by hand in an afternoon.


Or we could do it like other countries do and let the IRS compute it. They already have your w2's, 1099s, etc. and their computer is going to check it anyway, so they could just send you a statement that says "this is what we calculated. If you're cool with that we're done. Otherwise you can send in your own paperwork."
2014-04-13 06:46:24 PM
2 votes:
I'm not voting for him again. Seriously. This is the last straw. You hear me? Never forget!
2014-04-14 12:27:58 AM
1 votes:
Linux_Yes: a flat tax would fix everthing and be much simpler, but the wealthy/big business folks would never allow that because then they and their high priced tax lawyers wouldn't be able to game the system.

And yet it is always the liberals who are always opposed to the flat tax system, because it will only benefit the rich, who pay vastly higher taxes than anyone else in America.

Funny how that works.
2014-04-13 09:14:41 PM
1 votes:

revrendjim: cchris_39: This is ridiculous. We need major simplification.

I took my masters in accounting in 1984 and passed the CPA exam a year later. That and 30 years experience and I'd give myself a 50/50 chance of getting that return correct without relying on tax preparation software.

The average American with the average return should be able to do their own return by hand in an afternoon.

Or we could do it like other countries do and let the IRS compute it. They already have your w2's, 1099s, etc. and their computer is going to check it anyway, so they could just send you a statement that says "this is what we calculated. If you're cool with that we're done. Otherwise you can send in your own paperwork."


That's been proposed, but the tax software lobby paid off enough people to stop it. There was actually a law banning the IRS from offering free tax software or preparation. Peter Roskam and Congressman Ron Kind of Wisconsin are the leading tax software company whores on this issue.

http://consumerist.com/2013/04/15/legislation-would-prevent-irs-from -p roviding-pre-filled-tax-returns/
2014-04-13 08:26:02 PM
1 votes:
How the fark is the president's effective federal tax rate lower than mine?
2014-04-13 08:00:26 PM
1 votes:
This is ridiculous. We need major simplification.

I took my masters in accounting in 1984 and passed the CPA exam a year later. That and 30 years experience and I'd give myself a 50/50 chance of getting that return correct without relying on tax preparation software.

The average American with the average return should be able to do their own return by hand in an afternoon.
2014-04-13 07:51:56 PM
1 votes:
"Obama Paid $2,310 In Obamacare Tax in 2013 ..."


Huh,   Obamacare tax.
2014-04-13 07:44:43 PM
1 votes:
Can anyone explain to li'l ole me what tfa has to do with the troll-y implications of subby's headline? Because my understanding of tfa is that President Obama basically paid the same amount this year as last year because expiring things in Column A canceled out new things in Column B. Whereas subby seems to be implying that the man with the most heavily scrutinized tax returns in the world manipulated the tax code for personal gain.

If it helps, I already recognize that subby is severely mentally deficient.
2014-04-13 07:44:07 PM
1 votes:

Linux_Yes: a flat tax would fix everthing and be much simpler, but the wealthy/big business folks would never allow that because then they and their high priced tax lawyers wouldn't be able to game the system.


Exxon: managed to profit 90 billion one quarter and didn't pay any taxes on it.  now that is talent.


A flat tax on what?

A flat income tax would make the super rich very, very, very happy.
2014-04-13 07:36:00 PM
1 votes:
a flat tax would fix everthing and be much simpler, but the wealthy/big business folks would never allow that because then they and their high priced tax lawyers wouldn't be able to game the system.


Exxon: managed to profit 90 billion one quarter and didn't pay any taxes on it.  now that is talent.
2014-04-13 05:13:32 PM
1 votes:
images.sodahead.com
 
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