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Ranch kids might get to pay for Obama;s Healthcare

jodywy

Well-known member
WASHINGTON -- The Obama administration will propose $60 billion in new tax increases over 10 years on wealthy estates, businesses and others to make up for shortfalls in its fund to pay for an expensive overhaul of the health-care system.

The measures go beyond plans the White House has announced in the past few weeks. Officials said that upon further analysis they realized that they had overestimated savings and tax increases proposed in February to help pay the bill.

The full proposals will come Monday when the White House releases a detailed analysis of its budget blueprint. Administration officials described the new proposals not as tax increases, but as eliminating "tax loopholes."

One element would raise an estimated $24 billion over 10 years by tightening estate-tax rules, giving taxpayers less flexibility to minimize their liability on inherited goods by claiming a different value on the same item for different transactions.

A second element, which would raise $10 billion over 10 years, would require businesses and others who make payments to corporations to report such payments to the Internal Revenue Service. Under current law, payments to individuals are required to be reported on a 1099 form, but no such requirements exist for similar payments to corporations. The goal is to make sure that the recipient corporations report all their taxable income.

How to pay for a health-care overhaul estimated to cost more than a trillion dollars over a decade is one of the trickiest questions facing the administration and Congress. The White House has proposed a combination of health-care spending cuts and tax increases.
http://www.foxnews.com/politics/200...-taxes-estates-firms-fund-health-care-reform/

http://online.wsj.com/article/SB124183390482402969.html
 

Broke Cowboy

Well-known member
Taxes are an uneasy balance.

There can come a time when the folks that have the money will no longer accept the tax rate.

They then leave the country and take their money with them.

Or, they pass that additional cost along by increasing pricing.

In the end no business will stay in business very long, or remain in a location very long if that dirty word - PROFIT - is not to be found.

Once that happens, who will be around to create jobs, take risks to build wealth and at the same time stimulate the economy?

Taxation has driven more than one country into an even deeper recession.

BC
 

Faster horses

Well-known member
I heard, and I think it is fact...that if you leave this country you
will be taxed at 45%. So, you can't stay...and you can't leave. :shock: :cry:

How can I find if this is true? I heard it on talk radio and there was
a discussion on it.
 
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