The unintended consequences for passing the health care monstrosity will be far reaching and painful IF it survives the elections in November. For now the press liberals are ga-ga talking about the "historic" bill. The lies from Obama are getting further play on and on.
Bart Stupak shows himself to a fool or a knave: either he did not believe the principles he stated OR he is truly a fool for thinking an executive order can prevent the misuse of Federal money as he wanted. Any President can change an executive order at a whim. He just got a fig lief to cover his lies.
The taxes on investment are quite onerous as they are on top of the AMT and before all deductions, even before charitable contributions.
The taxes and impositions on business are huge, as is the coming obligation on the people to buy what will certainly be very, very expensive health care policies.
Overall the coming taxes on hard work, investing and effort seem so onerous, I wonder why anyone will do it ? After one reaches the very, very high marginal tax rates to come, why do more to make more money ? The government will take more than half of your income over around $250,000 in a very punitive manner. One can no longer even work more to use the omoney to give to charity, as they government will take its cut first. That tithe - 10% - is now 6.2% as the government's coming slice of 3.8% comes first. 'Why not take it easy' seems to be the order of the day.
The people reap what they sowed by electing fundamentally dishonest politicians who would send some crumbs back the the district.
For now, I'll read what's in the bill once anyone truly reads it and writes some good articles about it.
The phase-ins are rather long. BUT one idea is now in the forefront: ROTH IRA conversion. I had once rejected that thinking the gains were not enough to be worthwhile. Now the gains seems much larger and the downside lower. More analysis to come.
PS: "Historic" is not synomymous with "good". The Dred Scott decision by the Supreme Court in 1857 was historic and intended to eliminate slavery as a public issue; instead it led directly to the Civil War.
Word of the Day
"Desideratum" - noun [$10] from Latin 'desidero' meaning to long for, to desire, to miss'
Desideratum means something lacking but needed or desired.
Sentence: The principle desideratum of Congress and the health care bill is common sense.
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28 comments:
Sal...will you now be able to afford that sex change operation sir.
btw, if the ROTH conversion numbers are now as strong as I think they will be, lots of $ are going to be sucked out of the market to pay taxes on the conversions over the year.
so Bman you are advising that ira's be converted to Roth ??
why do i need a sex operation?? i'm a man..........not a queer..............which you are
PS......still wanna be friends ???
"I I I I loookkkkaaa like a man"...that golf video, you loookkkkaaaa like a bull dyke...a tan rosie o'donnell.
no, I'm saying it's something I might do for my own tax position.
re conversion, it seems to me the downside risk is a lot less now; while the upside is a lot more.
I will be paying AMT this year, so the amount converted is taxed at 28% up to a certain amount which would kick me out of AMT.
Conversion might avoid taxes at higher rates in the future. I'm looking at it - no decision yet and I probably won't do it until after November elections.
I don't ever see the tax rate going below 28%, so the downside is nil.
hey frosty....do you people support 'don't ask don't tell' ?
the problem i have with Roth ira's is you can't contribute even 1 cent if you make over like 130k ish
ROFLLLLLL rosie had a better swing in a League of Their Own
get a new club..that'll do the trick...ITS THIS STUPID FN CLUB
HELICOPTER OFF THE 4TH TEE
woopwooopwoooopwoop
"GEEZUZ SALLY... Y YOU GOTTA WRECK OUT TIME TOO?
LMAOOOOOOOOOOOOO
I believe that video was taken before the "release the club" lesson...
true re Roth, but for 2010, the income limit for conversions is completely removed.
just to be clear Bman..............so you have a traditional ira ........and you are thinking of converting to roth
and the income limit for conversion is removed for 2010 only.........or removed from here on out completely ?
PS.....what is the lawyer language for 'here on out'....here-to-fore ??
jump thru hoops for these pantloads and a new pack down the road changes the rules...whats the future??..load the 5 gallon buckets with skim.....your skim may vary from others skim....but make no mistake skim ia comin..lool
The income limit for conversion is removed for conversions in 2010 only. The income realized on conversion can be spread over two years BUT that means taking risk of whatever the tax law is in 2011.
IF I do it, I'll take the income this year and pay that tax this year.
not "heretofore", one would just say "permanently as of X date".
"hereafter" might work, depending on the langauge.
Hal sod farm....hes very tall you know
HAND TOSSED MANURE
dandelion greens make a fine salad...brew a great tea or make wine...toss another cop on the fire bro, we got some cookin to do.
Bunky...when Sal has his boyz over for a wine cooler tasting party in his kitchen...would you consider that a sword room sir.
I think that might be better named a "needle" room, frosty.
LOL...first pitch walk off...crowd brings Bunky out for cap tip.
LVS
nailed it !!!!!!!!!!!!
this run is amazing.............i keep waiting for the big red day......the 'blip' hits keep on comin Bman
danke vielmals jim !!!!!!!!!!!!!!!!!
Bunky...if you had the nazi polosi arm twister move would you have been a state champ grappler sir...."someone wanna sign my yearbook...anyone...I'M NOT AN ANIMAL"
uh .. frosty ... one gets ejected in amateur wrestling for "pro" style moves like hers.
The hidden brass knucks ... works on TV when the manager distracts the ref ....
I.D.on'tS.uckA.nything...Spin tears a page from the playbook...tosses to Sal to clean the 22" spinners on the rig.
frosty you like wrestling too ?? well.....not a surprise......good time to bring out one of my favorites.........always cracks me up...here we go
wrestling is for fags............ya'know...the clutching.....the grabbing........the holding.......the sweating..the underwear.........f'ng fags
PS...........still wanna be friends???
the clutching.....the grabbing........the holding.......the sweating..the underwear.........
sounds an awful lot like the "game" you and jim play after the lights go out....after a few wine coolers have been knocked down...just sayin...
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