Tax Compromise Reached
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Bush Tax Cuts extended 2 years except for estate taxes now at 35% after $5million
13 more months of unemployment for all the deadbeats unemployed for 2 years. How much is enough? Should people be allowed to collect unemployment for 10 years?
Capital spending by business can be expensed immediately rather than over 20 years
And the biggie...everyone gets a 2% raise on the first $106k of wages as FICA gets reduced by 2%. So about a $2k raise for workers.
13 more months of unemployment for all the deadbeats unemployed for 2 years. How much is enough? Should people be allowed to collect unemployment for 10 years?
Capital spending by business can be expensed immediately rather than over 20 years
And the biggie...everyone gets a 2% raise on the first $106k of wages as FICA gets reduced by 2%. So about a $2k raise for workers.
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plus an increase in SS withholdings, burried in the health care bill.
These cuts equate to squat.
Whether you are blue or red, this is good for the economy and the coin market. Will add to deficit so is good for pm's
I have a neighbor who has not made a payment on his house for 2 years. All I can say is he should thank his personal G-d he doesn't owe me that money.
This place is so far gone it isn't funny.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Wait a minute....they're CUTTING fica collections????????? >>
We have idiots running this country.
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
I don't watch Beck, or believe anything.
The only thing I believe is that Bernanke and Geithner are
running the worlds largest Ponzi scheme.
edited for sophomoric spelling error.
In honor of the memory of Cpl. Michael E. Thompson
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The Senate Majority Leader thinks that "this is a big day in America...only 36,000 people lost their jobs today, which is really.....good."
The guy at the top thinks there are 57 states and it's ok with him that instead of protecting our most valuable right, the head of his Justice Dept. thinks that the Black Panthers are a couple of normal blokes hangin' out to protect people from harrassment at the polling stations, and his head of Homeland Security thinks that Tea Party attendees and retired Military are terrorist threats.
The Secretary of the Treasury is a tax cheat and is only marginally better than his predecessor who tried to loot the Treasury of $787 Billion with a one page document of which something like $15 billion went to his alumni association at Goldman Sachs so that they could pay record bonuses instead of being investigated for front-running trades and stealing from their own clientele.
And The Bernanke is going on a speaking tour to explain that the economy may have trouble generating new job growth for as many as 4 or 5 years. (This is the same The Bernanke who confidently explained that he has a weapon he can use to revive a faultering economy called....the printing press and that he could drop money from helicopters where it was needed if necessary?
Please pinch me if I have been dreaming. If you have any doubts about the value of buying precious metals, please tell me what I'm missing.
I knew it would happen.
<< <i>Our government has made kicking the can down the road an art form. It's never going to end until it ends..................MJ >>
Very few in office have big enough ones to tell the truth and to try and do something about it. They have been kicking that can for decades and the end will be here a lot sooner than most can imagine.
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
then the Government has admitted too. This deal, bad as it appears, may be
necessary to keep the Nation from a depression. Either way, we appear to be screwed.
Camelot
<< <i>Obama, you want to stimulate the economy, bring manufacturing back to the U.S.
Cleanse and rid ourselves of the "cheaper to produce in China" ideology. >>
I couldn't help but laugh at the GE conference..... CEO says GE needs to "make real stuff" not financial wizardry...
I could not help but laugh.. they rode their stock up for 10 years on that.... I guess they forgot to mention that then...
What do we produce here in the U.S.? My North Face ski jacket is made in China, all the components
in my computer are made in China, my cell phone and TV are made in China, my Dewalt 18Volt drill is made in China,
bolts and fastners on a Harley are made in China, many items on my Ford truck are assembled and produced in Mexico,
even the damn pouch included with the 06-W ASE you guessed it, made in China. It's not cheaper to produce in China,
it's because CEO's and upper elites need hundreds of millions to live, aka GREED. If I were the CEO of Ford,
I would slash my own pay from 600 million to 10 million, take the 590 million build a facility to produce and assemble
all the components made elsewhere. I would create jobs, I would put Americans to work, thats the answer create
Fn jobs here, period. I can get by just fine with 10 million.
<< <i>stop watching Beck
Whether you are blue or red, this is good for the economy and the coin market. Will add to deficit so is good for pm's >>
Another "stimulus" check is a good thing???
Keeping the masses on welfare will help the coin market??
Surely you are a tad crazy!!!
Beck is on at 5:00pm.
<< <i>By the way I hear it none of this has passed yet
Nope, and it probably won't.
<< <i>
<< <i>By the way I hear it none of this has passed yet
Nope, and it probably won't. >>
If it doesn't pass this year it will be passed under the new congress next year and be made retroactive to the first of the year.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Should people be allowed to collect unemployment for 10 years? >>
Provided they can prove they are actively looking for work, why not?
The name is LEE!
<< <i>
<< <i>
<< <i>By the way I hear it none of this has passed yet
Nope, and it probably won't. >>
If it doesn't pass this year it will be passed under the new congress next year and be made retroactive to the first of the year. >>
What's ridiculous is the payroll companies have to have the rates put into the system by Dec 15th I believe so there won't be any hiccups in paycheck processing. If this stalls and they retroactive it next year the payroll companies will have to readjust all their software.
Provided they can prove they are actively looking for work, why not?
Let them collect for a lifetime... but let's also start a bounty program, whereby I get 5% of the unemployment check if I find them not actively looking for work. The government will save trillions - a definite Win-Win.
I'll even pay FICA on my take.
I like that idea because there are a lot of them out there just milking the system. I don't mind helping out when people are down but I don't like supporting a lazy bum either that just plain doesn't want to work.
Link
UNEMPLOYMENT BENEFITS
Million of job seekers will benefit from an extension of their benefits at current levels through the end of 2011. The extension applies to workers laid off for more than six months, and less than 99 weeks. Seven million Americans would have lost their benefits through next year without the 13-month extension. Obama's Council of Economic Advisers estimates the provision will create 600,000 jobs next year.
<< <i>By the way I hear it none of this has passed yet
thank you for bringing this up.
=======
Put a bounty on Disability too while we're at it. All those cats who become "disabled" right on schedule at age 50 would be easy targets... or the ones who "fall down" at work but no one saw it...
We had one of those a week ago.
<< <i>
<< <i>Should people be allowed to collect unemployment for 10 years? >>
Provided they can prove they are actively looking for work, why not? >>
I agree. We just need to be more more stringent on making sure these folks are actively looking for work. One of the quickest ways to down an economy is folks out of work.
We've got the military sucking up 50% of expenditures. We're not even in dire times like WWII. THAT's a problem.
is to reauthorize a continuation of the 99 week maximum.
Camelot
Maybe time to move to Poland.
Knowledge is the enemy of fear
<< <i>
<< <i>
<< <i>Should people be allowed to collect unemployment for 10 years? >>
Provided they can prove they are actively looking for work, why not? >>
I agree. We just need to be more more stringent on making sure these folks are actively looking for work. One of the quickest ways to down an economy is folks out of work.
We've got the military sucking up 50% of expenditures. We're not even in dire times like WWII. THAT's a problem. >>
I think you got your facts all wrong...It's entitlements that suck up 50% of expenditures.
<< <i>
<< <i>
<< <i>
<< <i>Should people be allowed to collect unemployment for 10 years? >>
Provided they can prove they are actively looking for work, why not? >>
I agree. We just need to be more more stringent on making sure these folks are actively looking for work. One of the quickest ways to down an economy is folks out of work.
We've got the military sucking up 50% of expenditures. We're not even in dire times like WWII. THAT's a problem. >>
I think you got your facts all wrong...It's entitlements that suck up 50% of expenditures. >>
<< <i>
<< <i>
<< <i>Should people be allowed to collect unemployment for 10 years? >>
Provided they can prove they are actively looking for work, why not? >>
I agree. We just need to be more more stringent on making sure these folks are actively looking for work. One of the quickest ways to down an economy is folks out of work.
We've got the military sucking up 50% of expenditures. We're not even in dire times like WWII. THAT's a problem. >>
I do not agree with the last two statements you made as I think it's irrelevant to unemployment.
Sure its part of the budget but unemployment is an Insurance Program which is funded in part by employers, employees, and the government. It also has strict guidlines on what and when you can collect.
Why would I accept a job that paid less than my unemployment premium even though there may be some out there AND that unemployment premium that I do receive does not cover my household expenses?
For me, its not a question of simply finding a job as much as it is finding a job that can sustain my current financial obligations. Until then, I would certainly appreciate having the maximum amount of supplemental income that the Insurance Program I've paid into through payroll deductions for the past 40 years, can allow.
Are there folks that scam the system? Sure!
Hopefully the system will eventually catch up with them but to generalize and lump everybody into the same pot just isn't right. There are folks actively seeking employment that cannot find it and until you are in the boat, you'll never understand.
For all the hard asses out there that cannot see nor understand that and are totally devoid of human compassion since it affects their bottom line and well being, there's 1.4 acres for sale in a secluded region of Montana.
The name is LEE!
It is not quite as innocuous as just cashing in an insurance policy that you have payed into. Actually, you didn't pay into it, your employeer did and he paid it to the state as a tax and that resulted in less money being available that he could pay to you as an employee. The state uses that fund to provide temporary relief to folks that lose their jobs until they can find another one. There are also federal funds that are collected from the general tax revenue that can be used for benefits but they are still paid out to those in need through the state agencies. That money does not just magically appear. The money from the federal programs are not supplied by any big greedy insurance company, they are paid from the money that you send to them with your 1040 every year (at least the 50% of us that do pay taxes). The result, in this case, is that the federal government must borrow the money to pay the benefits that they give to the state that the state then gives to those that are "seeking employment" as they are well over budget and have exceed the income from us taxpayers.
In political correctness language, those that are getting the benefits, what we call unemployeed, are now called people that are "seeking employment". That is pure BS PC garbage. Many of those "seeking employment" are people that simply won't work because, like you say, they can make more money sitting on their hands than they can make working. The down side of this is that since they aren't working, their employeers are not paying unemployment tax and the fund just gets more and more in the red. As the unemployee's skills erode, as they lose motivation and find doing nothing pays enough to get by, then at some point they become unemployable for anything other thin flipping burgers and sales clerking. New software, larger skill sets, new ways to network within organizations will quickly put these people out of professional employment and then they will they will not be employable even as support for professionals. Those businesses that are succeeding today are quick, extreemly efficient, multi skilled, and very bottom line conscious. The days of standing around the water cooler talking about your date last night and then going to back work on your spread sheet are very over.
We are in the process of creating a class of the permanently unemployeed. The unemployeed get used to not working and then they are used to not working. They are contributing nothing to the productivity, they are contributing nothing to our national goals, they are contributing nothing to the workplace, they are contributing nothing to their profession, they are just riding for free and nobody rides for free and to make it worse, they are still griping about the ride the whole way. At some point, the banks will kick them out of their past due mortgage cribs, the states will simply say "we're out of unemployment money", at some point, it will become January and the new congress will be seated and then it's game over for the gamers (well, actually they will likely have 12 more months).
There are excuses after excuses for not working. "There are no jobs here": Have you considered moving...remember the great depression that resulted in a migratory shift from the dead urban areas of the east to the new work in the west. There was a reason to move, they needed to eat. "But my house is under water, I can't move": Do you want to eat, then move. "The gov. unemployment pays more than a job": Not for much longer. Unfortunately, it is very difficult to eat reasons, there is no substitute for food. This is a problem that will likely work itself out.
If we wanted to increase employment and productivity then the states would hire a state workforce that did nothing but verify unemployment claims and if and when they ran out of people to verify then they could start verifying welfare claims. Welfare benefits and unemployment benefits are critical to many people that are too old, disabled, in poor health, or in some way, not able to work. It is essential that we maintain those programs for those that are truly in critical need. What was once an act of compassion by our public agencies has evolved into a civil right for those that choose to not work, paid for by those that do. If the state workforce could reestablish credibility in those programs and those in need are truly helped then those that have been removed from program will have the greatest motivation to work known to man, hunger.
JMHO
New Deal programs
With all the decaying infrastructure & unemployed ~ May be time for a BO deal ~ I'm just saying.
These programs are what made the mass exodus's of the Great Depression. There was work made to go to.
I heard story's from my daddy as a boy about the CCC camps.
wpa ccc
the blue ridge highway
Did somebody say infrastructure?
True. The amount that's paid is a function of the employer. Unemployment taxes are yet another reason we decided years ago that we'd only have contractors as employees.
<< <i>"I heard story's from my daddy as a boy about the CCC camps."
wpa ccc
the blue ridge highway
Did somebody say infrastructure? >>
Absolutely this is the answer. Lets build 200 coal gasification plants all across the county. Would take about 20 years and would employ millions. Then by 2030 we would never need to buy a drop of foreign oil. Sure the cost would be about 10 trillion, but how much have we spent already? How much would we save?
Knowledge is the enemy of fear
<< <i>
<< <i>Should people be allowed to collect unemployment for 10 years? >>
Provided they can prove they are actively looking for work, why not? >>
It's a little off topic, but here is my resume. I been trying for years to get a job, but I haven't had any luck!:
Name: Ben Dover America
Please give me a job! I need the money. I have not worked in over two years and one of my girlfriends is pregnant again! Don’t believe my previous employers who say I have a drug problem. It’s not true and I have a doctor’s prescription to prove it. It is legal in California!
My requirements are that I don’t have to show up for work until after 12PM. My head usually hurts after my previous night of networking. I need a position where I don't have to deal with rude customers. I don’t want to have to punch one out again.
I need 100 sick days and 40 paid vacation days each year. And don't give me this "you need a GED" crap! That is so judgemental! $120K a year should do for starters.
If you think you meet my requirements, please call (after 12PM).
"Yesterday, in central London, thousands of students and others gathered to protest as Britain’s Parliament met to vote on a proposal to raise university tuition fees significantly – nearly tripling them – as part of a continuing set of austerity programs.
During the protest, several clashes took place between police and protesters, resulting in numerous injuries and 43 arrests. Late in the demonstration, a group of protesters attacked the car of Prince Charles and Camilla, Duchess of Cornwall as the couple were inside, being driven to the London Palladium. The car was slightly damaged, the royal couple unharmed, though a bit shaken by the incident. Parliament did end up narrowly approving the measure, and the fee increases are set to take effect in 2012."