"riverman" wrote in message ...
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"JoeSpareBedroom" wrote in message
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"Fred Lebow" wrote in message
Meanwhile, back at nursery school, President Nookular will be
talking
about tax cuts again soon.
"Fred Lebow" wrote in message
Do you think that a lot of this $$ is going into a lot of
politicians
pockets - esp Bush and Cheney?
Fred
Directly....possibly.
Indirectly......absolutely.
Wow, for a dimwit that's pretty tricky. Funnelling money to his
own
pocket by giving out tax cuts. You guys crack me up.
Anyway, genius. The 'directly' part is easy to understand....they pay
taxes,
a tax cut benefits them. Unless, of course, they have their money
sheltered
in a way that the tax cuts don't affect them, which I assume is
possible,
but I doubt it.
Yep, the tax savings on that presidential salary must really
be worth it. I hear that huge salary is why they all go
into it. It's a lot more than they could make in the
private world.
- Ken
God, how I wish Bush would realize that and get the f**k out of
Washington.
Actually, although I don't believe it was his personal motivation, Bush
got a tremendous benefit from the new tax law. In 2003, his income was
$727,082 and he paid $227,490 in federal taxes. In 2005, his income was
$735,180 (an increase of $8098) but his tax liability was down to
$187,768 (a savings of almost $40,000).
I don't know how the new tax law affected you, but I bet you didn't save
$40K.
--riverman
so you are bitter, as you now had to pay taxes on your earnings just like
the rest of America that lives in the country. Oops, you still get an
exemption for some part of the money earned?
NO, I still get an exemption. But I don't get itemized ememptions, nor can
I invest in IRAs or ROTHs, nor can I deduct for expenses like people who
live and file in the US. Nor would I have to pay the same taxes if I
earned exactly the same amount of money and had the exact same benefits
package, but I lived in almost any other country. The current Expat tax
package was passed in a surreptitious and backdoor manner, in the 12th
hour, buy a secret attachment behind closed doors that never was exposed
to the light of open debate and discourse.
But thats not what we're talking about, and believe it or not, I don't
really care about how it affects me personally. We're talking about Bush's
tax cut package, and who benefits from it. Tell me, how did YOU fare? Did
you save $40K? $20K? $10k? Even $1K? Because if you didn't benefit from
it, then I need to hear why you think its a good idea.
--riverman
During this entire regime I had ONE (1) benefit. I happened to need to buy
a bigger truck for my business at the right time and was able to write off
the purchase in one year instead of having to depreciate it out over six (6)
years like you normally have to do. It just happened to be a year when I
had my highest profits as a business owner. I still have to pay taxes on
the same amount of business income over time, but by being able to write off
the truck in the same year I bought it I didn't take the sudden tax shot I
would have otherwise.
Being in business for yourself is a nightmare when it comes to taxes. I
don't know why I even do it. I could make as much or more by working for a
big corp in my field and my time off would be mine. With the complexity of
running a small business it gets less and less appealing every year.
LOL. Yesterday morning I agreed to have a new building built. Now I'm
stuck. I figure It will be another 5-10 years before I'll be in a position
to get out of business if I want to. There must be a masochistic gene there
some where that keeps me going, or maybe its that false sense of control.
LOL.
--
Bob La Londe
Fishing Arizona & The Colorado River
Fishing Forums & Contests
http://www.YumaBassMan.com
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