Obamas shout out to the Elderly

Swiftstrike

Registered Member
#4
Notably guys, most senior Citizens do not pay any income tax anyways if they are making $50,000 or less a year.

It's not really that dynamic of a change. I see no harm coming from it economically and the only people to benefit from this are the seniors with less than 50,000 who usually do not owe anything anyways.

So I guess I am indifferent.
 

Merc

Certified Shitlord
V.I.P.
#5
It's just another tax break for the elderly, who I'm pretty sure make up a large portion of the USA and naturally, will only become larger as our medical advances allow us to live longer. It's hard to deal with, that's for sure.
 

Swiftstrike

Registered Member
#7
Now what I will be concerned with is where he raises taxes.

Democrats notably always raise taxes to fund social programs and schools. For example if he raises the tax rates for capital gains that will only effect the rich. LT Cap gain rates are 15% for people in the upper bracket. A few years back it was 20%.

ST gains are taxed at the ordinary income rate. I think though right now the rates are really low ( and I am interested in what he will actually do. I read his book he maps out there what he "wants" to do...but that was before he was the nominee.

Right now Obama has been compromising a bit...
 

Swiftstrike

Registered Member
#9
I would just like to know how that break is going to be supported.
As stated earlier omitting the taxes on the elderly with less than 50k of income is not going to hurt anyone...they hardly pay any tax as it is...hell the people who fall into AMT next year will more than make up the difference.