Go Cash

[The Fake Lonnie Finch]

If Obama is elected, he has four new payroll taxes he proposes. If you are in the service industry, or in any way able, take cash for your work as much as possible. If the Democrats are serious about taking away the tax advantages of the 401k and adding more and more taxes to your paycheck, have less on your paycheck.

It's an end-run around raising income tax on individuals. However, if they take more from your paycheck, they've still taken more in taxes without having to raise the income tax.

I'm telling you all - prepare for what is coming with Obama/Reid/Pelosi. Get paid as much as you can in cash so you can avoid the hidden socialism. I tend to think our best hope until 2010 will be Southern Democrats who generally are more conservative on taxes and such. They may save us from all of this until Republicans can get their act together for 2010. We're about to get a big dose of yankee liberalism/socialism for a couple of years.

Edited October 26, 2008 by The Fake Lonnie Finch

[FirefightnRick]

If Obama is elected, he has four new payroll taxes he proposes. If you are in the service industry, or in any way able, take cash for your work as much as possible. If the Democrats are serious about taking away the tax advantages of the 401k and adding more and more taxes to your paycheck, have less on your paycheck.

It's an end-run around raising income tax on individuals. However, if they take more from your paycheck, they've still taken more in taxes without having to raise the income tax.

I'm telling you all - prepare for what is coming with Obama/Reid/Pelosi. Get paid as much as you can in cash so you can avoid the hidden socialism. I tend to think our best hope until 2010 will be Southern Democrats who generally are more conservative on taxes and such. They may save us from all of this until Republicans can get their act together for 2010. We're about to get a big dose of yankee liberalism/socialism for a couple of years.

Thank you for the tips.

It's a scary time indeed for this country.

Rick

[JesseMartin]

Or everybody could just vote for crazy Libertarians. They're nuts, but at least they want to get rid of income taxes. Just about all taxes, actually.

[meangreenacct]

If Obama is elected, he has four new payroll taxes he proposes. If you are in the service industry, or in any way able, take cash for your work as much as possible. If the Democrats are serious about taking away the tax advantages of the 401k and adding more and more taxes to your paycheck, have less on your paycheck.

It's an end-run around raising income tax on individuals. However, if they take more from your paycheck, they've still taken more in taxes without having to raise the income tax.

I'm telling you all - prepare for what is coming with Obama/Reid/Pelosi. Get paid as much as you can in cash so you can avoid the hidden socialism. I tend to think our best hope until 2010 will be Southern Democrats who generally are more conservative on taxes and such. They may save us from all of this until Republicans can get their act together for 2010. We're about to get a big dose of yankee liberalism/socialism for a couple of years.

Can you get me a link to this stuff? I'm interested to hear what the four new payroll taxes are.

[Coffee and TV]

You guys are hysterical. Can I crash at your place when you're in your underground bunkers for the next 8 years?

[chrisfisher]

If Obama is elected, he has four new payroll taxes he proposes. If you are in the service industry, or in any way able, take cash for your work as much as possible. If the Democrats are serious about taking away the tax advantages of the 401k and adding more and more taxes to your paycheck, have less on your paycheck.

It's an end-run around raising income tax on individuals. However, if they take more from your paycheck, they've still taken more in taxes without having to raise the income tax.

I'm telling you all - prepare for what is coming with Obama/Reid/Pelosi. Get paid as much as you can in cash so you can avoid the hidden socialism. I tend to think our best hope until 2010 will be Southern Democrats who generally are more conservative on taxes and such. They may save us from all of this until Republicans can get their act together for 2010. We're about to get a big dose of yankee liberalism/socialism for a couple of years.

I am hopeful that Obama and the ultra-libs don't drive the economy into the abyss by 2012 with all the tax hikes... I hope too that this energizes the public to return to low taxes and conservative principles in 2012 presidential election.... God help us with the Libs in control of the house/senate/presidency.

What I don't understand is that Obama will introduce a trillion in new spending, counting on taxes to cover it. But when you raise taxes, revenue to the U.S. treasury decreases due to financial strategies people take that you describe. Business will actually clean out the coffers by the end of year just to avoid taxes. I can blame them. I rather waste money on things I don't need than send it to the government.

[Coffee and TV]

I am hopeful that Obama and the ultra-libs don't drive the economy into the abyss by 2012 with all the tax hikes... I hope too that this energizes the public to return to low taxes and conservative principles in 2012 presidential election.... God help us with the Libs in control of the house/senate/presidency.

You think Obama's plan will have high taxes? You'd probably drown in a bottle of sleeping pills if you saw what the richest had to pay under Eisenhower.

[FirefightnRick]

How Ireland became the Celtic Tiger

The power of low rates was also shown when the 40 percent capital gains tax rate was halved in 1999 to 20 percent and revenue increased by 50 percent in one year and by 270 percent over three years.

This is an interesting read. Ireland went from one of the poorest countries in Europe to one of the wealthiest in a little over 25 years by implementing several changes to their policies including smaller government and reducing the tax burden.

Rick

[The Fake Lonnie Finch]

And, here's the sad thing about both McCain and the media...we're sitting here almost finished with early voting and less than a week before election day and now they start scrutinizing Obama's tax plans. It's why McCain deserves to lose and the media has earned it's title of Shills for Obama; McCain is an inept campaigner when he doesn't have George Bush to bash, and the media is simply dishonest.

It doesn't matter. We will not pay a fine to the government just because we can't afford to pay for health care. We'll simply lay off employees until we get down to the number where we fall under the scheme. We're not going to play socialism; we're going to keep playing capitalism. There will be nothing we can do about the surtaxes in place of the 401k plans. Nor will we be able to do anything about the surtax Obama has proposed for people who lose their jobs and get lower paying ones. His plan is for a surtax on all businesses to make up the difference between what that person used to make and what the newer, lower paying job pays.

Yes, these are the types of proposals you get from academic-types who have never had to meet a payroll on one end and go out and actually make sales on the other. They have no idea how difficult it is to run a small business. Nor do they care. They just knows that if someone has more money than someone else, it's not fair. Work ethic, sacrifice, and the reward for both don't enter into their equation at all. In the end, it is what it is - Marxism.

I'm telling you, just pray to God that the Southern Democrats do what they did under Clinton and start revolting against their man at the top.