Everything that's wrong with the United States of America, summed up in one graphic..

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Nov 1, 2004
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#5
My dad told me that when the government has to cut spending and not raise taxes that they always take away programs that people will notice in their lives. Kind of a way to get the people back for not allowing those money hungry fucks to raise taxes.
 
Jun 9, 2007
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#6
Row 1: Figure represents half of the estimated $23 billion cost of weakening the estate tax for 2011 and 2012. See: Gillian Brunet and Chuck Marr, “Unpacking the Tax Cut-Unemployment Compromise,” Center on Budget and Policy Priorities, December 10, 2010, available at http://www.cbpp.org/cms/index.cfm?fa=view&id=3342.

Row 2: Figure represents 1 percent of the fiscal year 2011 tax expenditure estimate for the mortgage interest deduction, over 10 years. The vacation home deduction accounts for at least one percent of the tax expenditure cost. See: Office of Management and Budget, Analytical Perspectives, Budget of the United States Government, Fiscal Year 2012 (Executive Office of the President, 2011), table 17-1; Congressional Budget Office, “Budget Options” (2000), REV-02.

Row 3 (now re: estate planning): General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).

Row 4 (now re: itemized deduction limit): General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals (Department of Treasury, 2010).

Row 5: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (subpart F active financing exception).

Row 6: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).

Row 7: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (half of total cost of two-year extension).

Row 8: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).

Row 9: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011) (10-year cost).

Row 10: Office of Management and Budget, Analytical Perspectives, Budget of the United States Government, Fiscal Year 2012, (Executive Office of the President, 2011), table 17-1 (expensing of multiperiod timber growing costs and capital gains treatment of certain timber income).

Row 11: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (half of total cost of recent two-year extension).

credit goes to Donna Cooper at American Progress for compiling the statistics and sources.
 

NAMO

Sicc OG
Apr 11, 2009
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#7
Row 1: Figure represents half of the estimated $23 billion cost of weakening the estate tax for 2011 and 2012. See: Gillian Brunet and Chuck Marr, “Unpacking the Tax Cut-Unemployment Compromise,” Center on Budget and Policy Priorities, December 10, 2010, available at http://www.cbpp.org/cms/index.cfm?fa=view&id=3342.

Row 2: Figure represents 1 percent of the fiscal year 2011 tax expenditure estimate for the mortgage interest deduction, over 10 years. The vacation home deduction accounts for at least one percent of the tax expenditure cost. See: Office of Management and Budget, Analytical Perspectives, Budget of the United States Government, Fiscal Year 2012 (Executive Office of the President, 2011), table 17-1; Congressional Budget Office, “Budget Options” (2000), REV-02.

Row 3 (now re: estate planning): General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).

Row 4 (now re: itemized deduction limit): General Explanations of the Administration’s Fiscal Year 2011 Revenue Proposals (Department of Treasury, 2010).

Row 5: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (subpart F active financing exception).

Row 6: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).

Row 7: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (half of total cost of two-year extension).

Row 8: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011).

Row 9: General Explanations of the Administration’s Fiscal Year 2012 Revenue Proposals (Department of Treasury, 2011) (10-year cost).

Row 10: Office of Management and Budget, Analytical Perspectives, Budget of the United States Government, Fiscal Year 2012, (Executive Office of the President, 2011), table 17-1 (expensing of multiperiod timber growing costs and capital gains treatment of certain timber income).

Row 11: Joint Committee on Taxation, Estimated Budget Effects of the “Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010,” JCX-54-10, December 10, 2010 (half of total cost of recent two-year extension).

credit goes to Donna Cooper at American Progress for compiling the statistics and sources.
Briefly looking at the JST estimates in regards to the first point made about low income housing it has risen by 1.5% over the past 4 years. However if they cut spending on that all together and keep tax breaks for the wealthy, there is no reason why the workers of your country should not rise up and riot, overthrow the government just like the middle east. You already have a head start, you have guns lol.

Pretty fucking lame considering how many people lost their homes during the GFC.
 

fillyacup

Rest In Free SoCo
Sep 27, 2004
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#8
they are trying to take guns but come on aussie breh, you know that americans only care about oneself and are to lazy to do anything. fear factor is heavy with and within the red white and blue
 

7-1-3 Click

smalltown'n
Jun 24, 2003
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#9
Briefly looking at the JST estimates in regards to the first point made about low income housing it has risen by 1.5% over the past 4 years. However if they cut spending on that all together and keep tax breaks for the wealthy, there is no reason why the workers of your country should not rise up and riot, overthrow the government just like the middle east. You already have a head start, you have guns lol.

Pretty fucking lame considering how many people lost their homes during the GFC.

easier said than done. there ARE a lot of lazy mother fuckers around here. but a LOT of DOWN ass mothe fuckas TOO!! BELIEVE IT! we'll get down for ours....
 
Nov 1, 2004
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#12
dfgfd

easier said than done. there ARE a lot of lazy mother fuckers around here. but a LOT of DOWN ass mothe fuckas TOO!! BELIEVE IT! we'll get down for ours....
"Its funny how on the block, niggas will kill you for cash but never raise a gun and rise out freedom at last" - Immortal Technique

I think Immortal is right.
 
May 6, 2002
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#13
Pay me $10 now and I will give you back $5 over the course of 6 months.
Sound like a good investment? If not, then you are no different than those who made those decisions.

If you don't like US policy then leave.
Stop crying...
 
Feb 4, 2003
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www.soundclick.com
#15
thats a trip, but its been that way since before i was born and will probably be that way when i die... i suggest if your in the left hand bracket you learn how to smoke weed, drink liquor and figure a way to get some of that free government cheeeeeese!
 
Nov 24, 2003
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#18
Jun 9, 2007
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#19
^ hey! nice job spouting off a Limbaugh talking point! Love it!

Too bad it completely ignores the overall effective tax rate



Thanks to insanely low capital gains and dividends rates, and of course the income cap on social security which right now sits around $105,000, the richest of the rich are getting the biggest breaks of ANYBODY in this country. Just ask Warren Buffet, who pays the lowest overall tax rate of anybody in his office, even lower than his receptionist!