A gloomy outlook
With the fiscal cliff looming tax hikes on the wealthy are becoming more and more popular. One by one the Republican rank and file cower to the might hand of the popular vote until tax hikes on the wealthy become a reality. But what happens next?
Tax hikes will take into effect on the wealthiest of Americans and as a result they will no longer be interested in making money. They will sell all of their goods and assets and give up their wine and caviar. Their fancy cars, houses, and boats will be sold for pennies on the dollar to avoid paying any more taxes. The servants, errand boys, pool boys, and yes men of the wealthy will find themselves unemployed. All of the brands that you love will no longer be produced because taxes are too high for the wealthy to want to become independently wealthy. The once elite will now fall into the ranks of the blurred anonymity that is society. No one will prosper and we will all wallow in our demise. Because their is no incentive to make money the economy will stagnate and unemployment will skyrocket. We will truly follow the way of Greece. The political framework will slowly collapse as political supplemental incomes will dry up to nothing. Populations will explode because there are no wars to keep them under control. The world as we know it will end. Paris Hilton and Justin Beiber will be left to begging for their meals. All because now the wealthy have to pay taxes equal to 98% of the world. Hard to believe? I think so.
Taxes will rise on the wealthy and the world will still go around. Nothing will change except the balance of power may be shifted a bit more in the common man’s favor. If you are ignorant to believe that by asking the rich to pay their fair share the world will end you have been drinking too much kool aid.
Categories: Federal Tax, Income Tax, Tax Law Tags: federal income tax, fiscal cliff, income tax, republican, Republican Tax, tax code, tax reform
Grover Norquist against the world
We have seen enough statistics in our day to realize that most people agree on NOTHING. It is very hard to get consensus on anything. It seems as if the American people would fight over a piece of shit nowadays.
Well a Quinnipiac University poll released Thursday has just proven that hell has frozen over and the American people can agree on one thing. HATING GROVER NORQUIST AND HIS STUPID TAX PLEDGE. Yes, that is right 85% percent of voters including 77% of Republicans think that the sacred goat of the Republican Party “not raising taxes on the wealthy” was a BAD BAD IDEA under any condition. What was going on in the Republic Caucus is beyond me but I have a feeling that most of them drank the “gold flake kool aid”
While the Norquist tax pledge wasn’t specifically mentioned. This insignificant figure wedged his way into our life’s with a stupid meaningless pledge that he expects all of his “bromises” to uphold. I have a feeling this Grover person deals with Napoleon Syndrome making himself to be more important than he actually is. I mean he isn’t the president or even an elected official. He is just some scraggly businessman with the balls of the very old in his hands that heads Americans for Tax Reform. . Why may you ask? I do not know. Maybe he has very deep pockets or a very deep throat.
Of course this is all just induction based upon the results of a simple poll question. Still one would argue that maybe this insistence on sheltering the wealthy does have something to do with good ole Grover since the Republicans drop his name every chance they get. Seriously is this guy a celebrity on AMC or something?
This poll question does hint on something much larger than it appears on the surface
Raising taxes on the rich is quite popular among those that aren’t rich. Surprise there ehhh? As a matter of fact 60% of those surveyed support it the other 40% are fans of Justin Beiber and Paris Hilton and don’t want a tax increase to hurt their acting careers.
Why pollsters neglect on having a polling question is beyond me. Maybe they think this Grover character has had his minute of fame. or maybe with the re election of Barack Obama people are waking up to the fact that the world doesn’t revolve around the wealthy. It is ok for the haves to suffer just as much as the have nots. I mean $250,000 a year could get you quite a pretty lifestyle. I think it is understandable for the wealthy discount riders to being paying their fair share. Lets approach this “fiscal cliff” in a balanced manner because money can only buy you so many votes and politicians. It looks like if the Republicans want to avoid taxing the wealthy they might want to look at updating their playbook from the age of the dinosaurs.
Categories: Federal Tax, Income Tax, Tax Law Tags: federal income tax, federal tax, fiscal cliff, income tax, republican, Repulbican Tax, tax pledge
Stephen Baldwin’s latest role….tax evasion
New York – Well known actor Stephen Baldwin failed to pay taxes in his home town of New York for the past three years amassing $350,000 in debt. He skipped paying state taxes from 2008-10 racking up this large sum.
Stephen, the youngest of the Baldwin brothers plead not guilty to the tax charges and was freed without bail. Stephen and his lawyer Russel Yankwitt, disagree about the charges
‘‘Mr. Baldwin did not commit any crimes, and he’s working with the district attorney’s office and the New York State Tax Department to resolve any differences,’’ Yankwitt said.
Baldwin could face up to four years incarcerated if found guilty of these charges. This trial will be held on February 05. These charges would be added on top of the $350,000 dollars in taxes and fees already accrued by Stephen.
‘‘We cannot afford to allow wealthy residents to break the law by cheating on their taxes,’’ the district attorney said. ‘‘The defendant’s repetitive failure to file returns and pay taxes over a period of several years contributes to the sweeping cutbacks and closures in local government and in our schools.’’
Thomas Mattox, the state tax commissioner, said, ‘‘It is rare and unfortunate for a personal income tax case to require such strong enforcement measures.’’
Stephen, 46 is most known for his role in the “Usual Suspects” and “Born on the Fourth of July”. He is also slated to be on “celebrity Apprentice” In March of 2013. Stephen comes from a lineage of famous actors including Alec, William and Daniel.
Stephen recently filed for bankruptcy in 2009 owing over $1.2 million dollars on two failed mortgages over a million in federal taxes and just shy of $100,000 in credit card dept. Things aren’t looking too good for this Baldwin brother.
Only time will tell if this celebrity profile will come clean and pay off its debts. Maybe going after these large scale tax debts could help ease the burden of our fiscal cliff.
Categories: Income Tax Tags: avoiding taxes, celebrity gossip, income tax, tax evasion, tax fraud