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[Stoney Mason]

What's the deal with the whole "Obama's really going to raise taxes on anyone who makes over $42K"?

My father is staying with us and he started this talking point. I've heard rumblings, but never the whole story. Did he vote on lower middle class tax hikes in the past or so meting?

Not to be mean but I'll bet if Obama wins and taxes haven't been raised on people who make over 42K in 4 years your father will still find other reasons to not vote for Obama. Which is fine of course. Just saying.

 

[Emiru]

$42k? In the debates he said $200k.

its 250k

 

[PrivateWHudson]

I've come to believe that we seriously need at least one required high school course on finances including taxes and tax brackets, retirement savings plans, stock investment, budgeting, credit cards, credit scores, and what not. I'd even add a more basic class to junior high curriculum so that kids are ready to deal with money once they start working.

"Home economics" needs to be updated to "Foundations of personal finance" and every student should be required to take it as a requirement for graduation.

I remember that these things were covered piecemeal in home-ec (budgeting, balancing checkbooks) and in social studies (mock stock investment), but it needs to be highlighted in our educational system.

Don't forget 30 year fixed vs. 5/1 ARM.

 

[SUPREME1]

I AM NOT GEORGE BUSH!

Spoiler

I just happen to hang around him and his kind a whole f*cking lot.

 

[rSpooky]

What's the deal with the whole "Obama's really going to raise taxes on anyone who makes over $42K"?

My father is staying with us and he started this talking point. I've heard rumblings, but never the whole story. Did he vote on lower middle class tax hikes in the past or so meting?

It is misleading according to CNN : http://politicalticker.blogs.cnn.com/2008/10/15/fact-check-did-obama-vote-to-raise-taxes-for-people-making-as-little-as-42000/

 

[Zoe]

I've come to believe that we seriously need at least one required high school course on finances including taxes and tax brackets, retirement savings plans, stock investment, budgeting, credit cards, credit scores, and what not. I'd even add a more basic class to junior high curriculum so that kids are ready to deal with money once they start working.

"Home economics" needs to be updated to "Foundations of personal finance" and every student should be required to take it as a requirement for graduation.

I remember that these things were covered piecemeal in home-ec (budgeting, balancing checkbooks) and in social studies (mock stock investment), but it needs to be highlighted in our educational system.

Economics is a required course in Texas.

(I don't see why you're mentioning Home-Ec. That class is basically about being a housewife)

 

[Particle Physicist]

http://www.cnn.com/video/#/video/politics/2008/10/17/racist.obama.newsletter.kcal

"my mom was married to a messican, she can't be racist!"

"kool-aid, kfc and watermelons are not black stereotypes, who says they are??!!"


:/ i cant believe so many racists have come out of the woodwork.. these people need to be neutered.

 

[Jason's Ultimatum]

$42k? In the debates he said $200k.

$200K for single people.

 

[PrivateWHudson]

Not to be mean but I'll bet if Obama wins and taxes haven't been raised on people who make over 42K in 4 years your father will still find other reasons to not vote for Obama. Which is fine of course. Just saying.

Yes, he will always find a reason to vote Republican. I had him nice and red faced last night. He retired to FL, so we haven't had a good political dissuasion in a while.

 

[CharlieDigital]

FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. … But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standard deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000."​

 

[Hitokage]

(I don't see why you're mentioning Home-Ec. That class is basically about being a housewife)

Obviously the scope needs to be expanded to include being a bachelor, a stay-at-home dad, or a supportive husband.

 

[PrivateWHudson]

$42k? In the debates he said $200k.

I know what his tax plan looks like now, but there is still a Republican talking point out there that mentions $42K.

 

[CharlieDigital]

Don't forget 30 year fixed vs. 5/1 ARM.

Damn straight, how could I forget that? Mortgages!

 

[Tamanon]

http://www.cnn.com/video/#/video/politics/2008/10/17/racist.obama.newsletter.kcal

"my mom was married to a messican, she can't be racist!"

"kool-aid, kfc and watermelons are not black stereotypes, who says they are??!!"


:/ i cant believe so many racists have come out of the woodwork.. these people need to be neutered.

I particularly enjoyed the original claim of "I can't be racist, I voted for Alan Keyes"

Which come on, nobody voted for Alan Keyes.

 

[Particle Physicist]

.

 

[hokahey]

Gallup

O 50
M 43


+1 from yesterday for Obama.

 

[ConfusingJazz]

Finally got to see the video of last nights charity dinner ROAST . That was good. :lol

Can't be quoted enough.

 

[Fatalah]

Holy crap, Obama's too funny:

"...The bailout was a necessary step to eating--- easing the financial state of..."

 

[Tamanon]

Gallup

O 50
M 43

GALLUP LOOSENING.....DEVELOPING!

 

[Particle Physicist]

Gallup

O 50
M 43

what was it before?

 

[Hitokage]

Gallup

O 50
M 43

WE'RE ALL FUCKING DOOMED!

 

[-Kees-]

what was it before?

49-43 Yesterday.

 

[hokahey]

what was it before?

O 49
M 43

 

[Dark Octave]

its 250k

I heard $250k before the debates and then during the debates I heard $200k.

 

[Particle Physicist]

I heard $250k before the debates and then during the debates I heard $200k.

250k if you are married. 200k if you are single.

 

[Jason's Ultimatum]

Everyone can relax now that today's Gallup is out!

 

[CharlieDigital]

Economics is a required course in Texas.

(I don't see why you're mentioning Home-Ec. That class is basically about being a housewife)

Nah, our home-ec class had that stuff, too (baking cookies, pretzels, and pies from scratch - loved that shit), but there were various lessons on household finances like balancing checkbooks, writing checks, paying bills, and basic stuff like that.

I never had a required economics/finance class before I graduated high school and didn't take one in college (although I loved Freakonomics, so now I'm really regretting not taking at least one in college...).

But the whole thing needs to be standardized and it needs to deal with the stuff like:

• Credit cards - how to use them responsibly, how to calculate interest payments
• Credit score - how is it calculated, how do you build credit
• Mortgages - different types, amortization, interest, pitfalls
• Stock market - how to invest, mock investment, pitfalls
• Mutual funds - see previous
• Retirement savings - different types of accounts, tax benefits of each
• Taxes and tax brackets - what it really means, in dollar terms, to raise the top bracket to 39%

 

[worldrunover]

I heard $250k before the debates and then during the debates I heard $200k.

Families: $250K
Singles: $200K

Also, you guys realize that a 7 point win by Obama would still be a blowout, right?

 

[Dark Octave]

$200K for single people.

250k if you are married. 200k if you are single.

I see.

$250k also for businesses all accross the board as well right? What is a business makes just over $200k?

 

[hokahey]

Survey USA

Florida

O 47
M 49

This is in opposition to the Research 2000 poll from earlier today:

O 49
M 45


Looks like a deadlock.

 

[PrivateWHudson]

FactCheck.org: The Budget Resolution Would Have Allowed Most Of The Provisions Of The 2001 And 2003 Tax Cuts To Expire, Effectively Raising Taxes On Those Making $41,500 In Total Income. "What Obama voted for was a budget resolution that would have allowed most of the provisions of the 2001 and 2003 tax cuts to expire. In particular, the resolution would allow the 25 percent tax bracket to return to its pre-2001 level of 28 percent. That bracket kicks in at $32,550 for an individual or $65,100 for a married couple. … But as those of you who have filled out a 1040 know, that's not actually how income taxes work. We don't pay taxes on our total earnings; we pay them based on our 'taxable income.' The Urban-Brookings Tax Policy Center's Eric Toder told FactCheck.org that 'people with taxable income of $32,000 would have a total income greater than that.' In 2008, anyone filing taxes with single status would be entitled to a standard deduction of $5,450, as well as a personal exemption of $3,500. So to have a taxable income high enough to reach the 25 percent bracket, an individual would need to earn at least $41,500 in total income, while a married couple would need a combined income of at least $83,000."​

Thanks. Not as bad as $42K, but it's still pretty solidly falls into a raise on taxes for the middle class I guess.

 

[Fatalah]

Everyone can relax now that today's Gallup is out!

So it seems the "Traditional Likely Voter" poll doesn't get updated daily.

No big deal, But I hate the right-wing being so proud of that damn poll.

 

[syllogism]

So it seems the "likely voter" poll doesn't get updated daily? No big deal, as Nate discredits the methodology behind that poll. But I hate the rightwing behind so proud of that damn poll.

It gets updated, it's just that there probably wasn't much movement today and the numbers are rounded.

 

[hokahey]

Gallup Daily: Little Impact From Debate So Far

This three-day rolling average includes one full night of interviewing after Wednesday night's final presidential debate, and shows little significant change as a result of the debate at this point. Obama has now returned to 50% of the vote among registered voters, while McCain has been stable at 43% of the vote for three consecutive reports. (To view the complete trend since March 7, 2008, click here.)

Gallup's likely voter scenarios show differing patterns. If turnout in this year's election follows traditional patterns by which the voting electorate skews towards those who usually vote as well as those who are interested in this year's election, the race is a close one, with Obama holding on to a two percentage point margin, 49% to 47%. If a much higher than usual proportion of new voters turn out, thus increasing the potential impact of groups of voters traditionally less likely to vote, such as young adults and minorities, Obama has a six-point lead, 51% to 45%. -- Frank Newport

 

[Lemonz]

nm

 

[Stoney Mason]

I particularly enjoyed the original claim of "I can't be racist, I voted for Alan Keyes"

Which come on, nobody voted for Alan Keyes.

The Audacity of hope racists.

avatar should be around pretty soon to point out how he finds nothing wrong with this along with something about rap music...

 

[nbcjr]

better link for mccain's
http://www.youtube.com/watch?v=qTRFbup0iv8

 

[rSpooky]

Thanks. Not as bad as $42K, but it's still pretty solidly falls into a raise on taxes for the middle class I guess.

Not his current plan though.

 

[ghibli99]

So Palin's going to be on SNL on Saturday (last night's Thursday update was weak, IMO)... I really hope this goes as badly as I think it will.

Elsewhere, I can't believe I'm saying this, but McCain sure looked like a completely different person on Letterman. The guy looked... normal. He's been a trainwreck at the debates, but get him in a different, more casual environment, and I could almost relate to the guy. Weird.

Gallup

O 50
M 43

+1 from yesterday for Obama.

Cool.

 

[Jason's Ultimatum]

Survey USA

Florida

O 47
M 49

This is in opposition to the Research 2000 poll from earlier today:

O 49
M 45





Looks like a deadlock.

Nonononononono

/shia

 

[CharlieDigital]

Thanks. Not as bad as $42K, but it's still pretty solidly falls into a raise on taxes for the middle class I guess.

I'd just like to add that taxes are a complicated beast. To factor in the actual effects, you need to look at the context of the tax brackets. You also need to factor in deductions, as the quote mentioned.

For an individual making $42K after all deductions, if the cutoff for the bracket is at $41,500, a raise of 3% would only affect the $500 above $41.5K.

http://www.moneychimp.com/features/tax_brackets.htm <-- calculator to play around with tax brackets.

 

[Dark Octave]

I AM NOT GEORGE BUSH!

Spoiler

I just happen to hang around him and his kind a whole f*cking lot.

:lol :lol

Sorry to quote this big ass thing but it's funny as hell.

 

[PrivateWHudson]

Not his current plan though.

Plans can and will change. Past performance is fair game.

Couldn't bring up the bridge to nowhere if I had to stick with current plans.

 

[Particle Physicist]

I see.

$250k also for businesses all accross the board as well right? What is a business makes just over $200k?

anything greater than 250k in profits gets a tax increase.

remember, only the amount you make above the limits gets the increase.

for instance, if the business makes 270k. 250k will have the normal tax rates, and 20k will have the 3% increases.

 

[Stinkles]

Everyone can relax now that today's Gallup is out!

 

[Hitokage]

Just got around to watching Obama's roast, and my favorite part was his derisive laugh after jabbing Giuliani, intentional or not.

 

[Nameless]

Just as I predicted in the Gallup. But doesn't McCain usually see a bump in the Gallup polls going into the weekend?

 

[gcubed]

the fact that Obama has a pretty sizable lead in VA, and all he needs to do is win Kerry states and VA, its going to take a monster mistake or game changer for Obama to lose this.

 

[Particle Physicist]

..

I see.

$250k also for businesses all accross the board as well right? What is a business makes just over $200k?

anything greater than 250k in profits gets a tax increase.

remember, only the amount you make above the limits gets the increase.

for instance, if the business makes 270k. 250k will have the normal tax rates, and 20k will have the 3% increases.

 

[PrivateWHudson]

I'd just like to add that taxes are a complicated beast. To factor in the actual effects, you need to look at the context of the tax brackets. You also need to factor in deductions, as the quote mentioned.

For an individual making $42K after all deductions, if the cutoff for the bracket is at $41,500, a raise of 3% would only affect the $500 above $41.5K.

http://www.moneychimp.com/features/tax_brackets.htm <-- calculator to play around with tax brackets.

Absolutely, but even the slightest dollar increase can't be spun as a good thing for that individual. I have difficulty defending deductions, because ideologically I feel that they are one of the big problems in our current mess of a tax system.