Oh the Irony - Closing Tax Loopholes

[volinbham]

Tim Geithner introduced Obama today in his speech about closing tax loopholes. The message was about getting people to pay their fair share and not cheat the system hmy:

 

[BigPapaVol]

Very Joe Kennedy of him.

 

[T-TownVol]

IF, you get caught!

 

[volinbham]

Here's a paraphrased quote "we are beginning to crack down on those breaking the rules and ensuring everyone pays their fair share" The camera was not on TG at the time!

The fantasy of these new provisions - 210 billion in tax revenues over 10 years. A primary focus is offshore subsidiaries. Clearly, if you make corporations pay more taxes they will have to raise prices to at least partially compensate.

The other brilliant line was "middle class tax cut for 95% of working families". We know about the "tax cut" but is the middle class really 95% of of working families? That's a bigger middle than Louie Anderson!

 

[utvolpj]

they got me this year for not filing in 2003. After 5 years of fines, penalties, interest, etc. they netted a cool $300 total. Way to go after the big fish

 

[BigPapaVol]

they got me this year for not filing in 2003. After 5 years of fines, penalties, interest, etc. they netted a cool $300 total. Way to go after the big fish

problem is, half of those they get end up getting money back.

 

[rjd970]

I had a pretty good tax year last year. We carried two mortgages, had a child, filed jointly for the first time, and had almost 10% in charitable contributions. Throughout the year sucked because we took a big hit with the real estate bubble, but tax time wasn't bad at all.

 

[BigPapaVol]

I had a pretty good tax year last year. We carried two mortgages, had a child, filed jointly for the first time, and had almost 10% in charitable contributions. Throughout the year sucked because we took a big hit with the real estate bubble, but tax time wasn't bad at all.

yeah, good tax years seem to suck in general.

 

[utvolpj]

problem is, half of those they get end up getting money back.

I got a nice chunk back they just held it up to make sure they could deduct my $300.

 

[joevol320]

you guys do understand that it is your money. listen to yourselves. your happy because your government gave you back some of your money that you work hard for.