Great news! White House finds new ways to soak the wealthy

[red states rule]

Looks like no matter how bad the economy gets, Obama has only one "solution"





We’ve already had some chatter about President Obama’s new “blow your mind (http://hotair.com/archives/2013/04/05/carney-obamas-forthcoming-budget-isnt-what-he-would-do-if-he-were-king-obviously/)” budget proposal. As Erika pointed out, there’s still plenty of taxy goodness in it, but more details are beginning to emerge. The Hill has latched on to one of the really insulting ones (http://thehill.com/blogs/on-the-money/domestic-taxes/292071-obama-budget-to-target-wealthy-iras) which, unlike in Obamacare, we may actually read and find out about before we vote on it.

President Obama’s budget, to be released next week, will limit how much wealthy individuals – like Mitt Romney – can keep in IRAs and other retirement accounts.


The proposal would save around $9 billion over a decade, a senior administration official said, while also bringing more fairness to the tax code.
The senior administration official said that wealthy taxpayers can currently “accumulate many millions of dollars in these accounts, substantially more than is needed to fund reasonable levels of retirement saving.”
I don’t know about you, but I think this is simply fabulous. It’s got almost everything you could want in an example of liberal tax theory. You see, some people will be able to stash away as much cash toward retirement as they can manage, assuming they somehow still have a job (http://hotair.com/archives/2013/04/05/jobs-report-only-88000-jobs-added/). But not everyone. So how do you draw that line in the sand as to who gets to plan for their golden years and how much you really need for retirement? Don’t worry your pretty little head about it, sweetheart. Uncle Sam will make the call for you!


But what is the theory behind even trying a stunt like this in the first place? Apparently, the government will “save” money by not letting certain unpopular individuals defer or avoid taxes on income in retirement savings. How much? Go back and read the first quoted paragraph above. We’re talking about nine billion dollars over ten years. That’s $900M each year toward paying our bills… or less than the amount we’ll probably spend to save the lesser prairie chicken (http://www.fieldandstream.com/blogs/field-notes/2013/03/delay-lesser-prairie-chicken-endangered-species-status) next year.


Bonus goodness: The budget will include more national taxes on tobacco (http://www.politico.com/story/2013/04/obama-budget-medicare-social-security-89658.html). And we all know how well that works out. (http://www.guampdn.com/article/20130402/OPINION02/304020317/Tobacco-tax-hikes-lead-black-markets)

The cigarette tax, the official said, would fund the universal pre-kindergarden education program Obama proposed in the State of the Union. A White House official on Friday declined to give details on the rate or extent of the new cigarette tax ahead of the official budget release.
Well played again, Mayans.

http://hotair.com/archives/2013/04/06/great-news-white-house-finds-new-ways-to-soak-the-wealthy/

[KitchenKitten99]

We have stopped selling cigarettes this past week (cleared them all out for less than our cost to get rid of them) and when we get the bar patrons come asking, we tell them we have stopped selling them. They ask why, and we tell them straight up why: taxes.

The state of MN and Gov 'Karl' Marx Dayton wants to raise the state taxes. If the Feds want to raise them too, good thing we got out of it.

Many of the 'admitted/known' democrats/liberals we had as cig buyers are actually admitting they are not happy with this and this is not what they voted for... it was supposed to only affect the 'wealthy'. :rolleyes:

[Robert A Whit]

More and more of the public understand that this country is running into socialism. Wilson started it crawling. FDR advanced it to walking.

LBJ picked up the pace. And along the path, even some republicans applied the whip.

Arkady Factorovich back around 1988 (born and raised in the Soviet system) asked me why America wanted to go to the direction that the Soviets ended up leaving. I and he discussed this for maybe an hour.
I had no idea why this country wants to go socialist.

[red states rule]

We have stopped selling cigarettes this past week (cleared them all out for less than our cost to get rid of them) and when we get the bar patrons come asking, we tell them we have stopped selling them. They ask why, and we tell them straight up why: taxes.

The state of MN and Gov 'Karl' Marx Dayton wants to raise the state taxes. If the Feds want to raise them too, good thing we got out of it.

Many of the 'admitted/known' democrats/liberals we had as cig buyers are actually admitting they are not happy with this and this is not what they voted for... it was supposed to only affect the 'wealthy'. :rolleyes:

As a small business owner you are well aware of taxes, regulation, and paperwork that government imposes on you which in turn, hampers your ability to make a profit and grow your business

and of course Obama made it clear YOU did not grow your business - government did

Isn't it sad to see so many "smart people" who never met a single payroll or owned their own business - be such "experts" on business, commerce, and economics?

[taft2012]

We have stopped selling cigarettes this past week (cleared them all out for less than our cost to get rid of them) and when we get the bar patrons come asking, we tell them we have stopped selling them. They ask why, and we tell them straight up why: taxes.


Bar patrons in New York can't even smoke.

[red states rule]

Bar patrons in New York can't even smoke.

The list of things the citizens of NY are permitted to do are getting shorter.

[taft2012]

The list of things the citizens of NY are permitted to do are getting shorter.

...and I wouldn't even attribute this entirely to liberals. Non-smoking activists come in all stripes. They're mentally ill.

Next time you find yourself in an airport with a smoking lounge, just sit down inside it for a few moments and watch the faces of people walking past. The expressions on peoples' faces are no different than if the lounge's occupants were committing ritualistic murders and having cannibalistic barbeques.

[red states rule]

...and I wouldn't even attribute this entirely to liberals. Non-smoking activists come in all stripes. They're mentally ill.

Next time you find yourself in an airport with a smoking lounge, just sit down inside it for a few moments and watch the faces of people walking past. The expressions on peoples' faces are no different than if the lounge's occupants were committing ritualistic murders and having cannibalistic barbeques.

It is mostly libs allowing the Nanny State to grow like a cobweb in the corner. We are talking about NY and NYC - not many conservatives in that part of the country. NOw I am sure you have your John McCain type "conservatives" who only want to "get along" and support the insanity but are still looked down upon by the "smart people"

[taft2012]

It is mostly libs allowing the Nanny State to grow like a cobweb in the corner. We are talking about NY and NYC - not many conservatives in that part of the country. NOw I am sure you have your John McCain type "conservatives" who only want to "get along" and support the insanity but are still looked down upon by the "smart people"

I'm talking about airports, which wouldn't include NYC because our airports don't even have smoking lounges.

Next time you're traveling, try my little experiment.

[red states rule]

I'm talking about airports, which wouldn't include NYC because our airports don't even have smoking lounges.

Next time you're traveling, try my little experiment.

I will have to take your word on smoking lounges. After 3o years of smoking I quit the day I first tried my E-Cig. I am saving a ton of money and I wish more people would go the E-Cig route. That would take so much tax money away from the greedy bastards in government and it would only improve the physical and financial health of the smokers

[KitchenKitten99]

Bar patrons in New York can't even smoke.

You can't do that here in MN either. Gotta go outside. We are a tobacco-only retailer so we actually get an exemption for it to enjoy indoors. We only allow cigars and pipe tobacco to be smoked inside. No cigarettes, and absolutely no hookah.

However we are moving over to e-cigs now. Because you CAN use those inside bars and restaurants, and indoors in general, it is a hot market here. We are getting in on the early market of it. We sell the flavored juice and have the actual e-cig units coming in hopefully next week. The two specialty shops that sell them in our area are making a killing. We anticipate to as well. Plus we have something they don't have: a nice area and lounge to hang out in with friends who do like cigars and pipes, even if you don't. We also are within 2 blocks of 6 bars/restaurants, 4 of which are on our side of the street on the same block. Those specialty shops are in retail areas that are nowhere near their market hotspots. However right now (at least until next week) they are the only two places in our area to get the equipment.

[Robert A Whit]

As a small business owner you are well aware of taxes, regulation, and paperwork that government imposes on you which in turn, hampers your ability to make a profit and grow your business

and of course Obama made it clear YOU did not grow your business - government did

Isn't it sad to see so many "smart people" who never met a single payroll or owned their own business - be such "experts" on business, commerce, and economics?

I am blaming Obama for this law being passed.

Can you imagine you are looking for work. And each time you show up at human resources, you must also, by law, submit yours and 2 others resumes?

I got out of the loan business for the time being due to such a law that works that way.

Customer A wants a loan secured by his home.

Today, we face low interest rates. (great)
Appraisals we can't order (we get even the dumb appraisers this way)

Though in the Clinton era, appraisers became more under the control of the Feds, it has got worse. Now the new system has middlemen that do not add to the process, but must be paid, to the fees paid by homeowners.

We have to open loans with wholesaler AAAAAA They often are well out of our area. They select the appraiser. As a former lender who is now a former loan agent for owners of property, I know very well who the good appraisers are. They do quality work. The type of work whole salers love. Even the wholesaler only picks a company.

Part of the reason as a lender I got to make money is that I did the job of that middleman.

Anyway, unless you were in this field, you may not see the disadvantages to home owners. It's there. All appraisers must pass tests. However one dumb thing the Feds did to all of us is they created 4 classes of appraisers.

The beginner licensed appraiser.
The appraiser with more experience but limited to low priced homes.
The highest residential appraiser (this was my license)
The commercial and residential appraiser. (creme of the creme)

Do you want the beginner at your home? Lenders once were able to have the beginners work for the two highest classes so they learned. Today they are treated the same way by law so you get the beginners at your home along with (if you get lucky) an appraiser who has years of this work and is more likely pretty good.

As an appraiser, I was contacted by those auditors who gave me assignments to do reviews of other appraisers work product. This I was told happened maybe in 10 percent of appraisals.

Anyway, my first sentences spoke of resumes.

I was aghast when the new forms came out after Obama was installed as dictator.

I would have to include my price on the loan plus other companies prices.

When you went out to get a job, can you imagine if by law you had to round up two other job seekers resumes and also present them to the company?

Folks, this extra work has to take time and has to be a factor in loans. What is to prevent lenders from being part of a set up? Price fixing is anti Sherman act, but if you owned a loan company, how would you deal with this costly process?

Do you have lunch with local lenders and (wink wink, just chat about the weather?)

[Robert A Whit]

You can't do that here in MN either. Gotta go outside. We are a tobacco-only retailer so we actually get an exemption for it to enjoy indoors. We only allow cigars and pipe tobacco to be smoked inside. No cigarettes, and absolutely no hookah.

However we are moving over to e-cigs now. Because you CAN use those inside bars and restaurants, and indoors in general, it is a hot market here. We are getting in on the early market of it. We sell the flavored juice and have the actual e-cig units coming in hopefully next week. The two specialty shops that sell them in our area are making a killing. We anticipate to as well. Plus we have something they don't have: a nice area and lounge to hang out in with friends who do like cigars and pipes, even if you don't. We also are within 2 blocks of 6 bars/restaurants, 4 of which are on our side of the street on the same block. Those specialty shops are in retail areas that are nowhere near their market hotspots. However right now (at least until next week) they are the only two places in our area to get the equipment.

The socialist state of CA has long caused prices to go sky high and to ban the public from smoking unless you are inside your home or outside.

People go from being free and happy, to restricted by law and all pissed off, to acceptance.

They know this. This is the plan. Sneak in socialist control by government (in this country, the idea government controlled citizens was never the intent until socialists got a grand idea) bot by bit. This country never would have gone socialist just by making new laws.

Think about life say in 1850. Those people actually were free. Today you are wound tightly into a web as if the government became a giant spider weaving a web around you.

You know those companies you wanted regulated?

Well, there are charges due to that. When you force regulations on the companies, don't you think it costs you? The companies will figure out a way to do this. CA cigarette prices are super high. Supposedly when voters agreed to tax cigarettes more and more and more, as years passed and new elections gave them one more bite of the apple, regulators now own the CA market and the result is those staggering prices.

Well, this wave of CA socialism looks from your reports to be hitting you guys now.

[KitchenKitten99]

I will have to take your word on smoking lounges. After 3o years of smoking I quit the day I first tried my E-Cig. I am saving a ton of money and I wish more people would go the E-Cig route. That would take so much tax money away from the greedy bastards in government and it would only improve the physical and financial health of the smokers

The juice is actually taxed just like other tobacco because the nicotine is derived from the tobacco plant. While we still have to pay the high taxes here, the wholesale costs are far less and even if we price within competition prices, our margins are still 2x-3x what most of our cigars get us.

[red states rule]

The juice is actually taxed just like other tobacco because the nicotine is derived from the tobacco plant. While we still have to pay the high taxes here, the wholesale costs are far less and even if we price within competition prices, our margins are still 2x-3x what most of our cigars get us.

I get my menthol drops from a guy in PA and they run me about $100 for the entire YEAR. And I charge up both E-cigs overnight so I saving a huge sum of money and not to mention the health benefits

I am waiting for libs to try and extort money from me somehow on this - it is only a matter of time