Mo wrote..

Wow, so totally unexpected that Zero wants to tax everyone.

Wow, so 30 years worth of Republicans being around with the AMT, including times when they held sufficient control to permanently index the AMT to inflation or get rid of it entirely, and they did not.

Still believing the lie, eh?

I believe we wouldn't be having this discussion if O was not reelected.

Bull****.

Neither party has been willing to repeal the AMT entirely for 30 years, nor has either party introduced, say much less passed, a permanent index on it.

You're deluded in this regard and have 30 years of history that say you're wrong.

They'd have posponed it for another year or two just as they always do.

"Please don't******me now,******me later!"

Berry is not going to get the blame from all the Democrat zombies that voted him back in. That honor will fall onto the Republicans with a lot of help from the msm.

I don't know why they are talking about the fiscal cliff. Is this Willey Coyote thinking he can get back on the ledge half way down?

I think the 179 is a HUGE issue - and I think it is an almost never talked about part of the economy.

I know for me, I use it to adjust my biz taxes every year. I can send the IRS a check or I can buy some big piece of new equipment at a 50% discount. No brainer.

I also believe the 179 has been propping up the economy over the last 10 years.

Personally if the 179 drops down to 25k again, I will be taking 3 to 6 months off next year - what's the point of working just to hand the money to the IRS ?

Interesting that many here think taking larger 179 deductions this year is a good idea. I'd been planning on putting those off/not taking accelerated depreciation in the belief that taxes were/are going up and that the deductions taken against future years taxable income (or expenditures postponed till 2013)are likely to be worth more later than now. I'll have to think this one through again.

Thanks,
Chris

Quote:

Bull****.

Neither party has been willing to repeal the AMT entirely for 30 years, nor has either party introduced, say much less passed, a permanent index on it.

You're deluded in this regard and have 30 years of history that say you're wrong.

Gen is 100% correct. Mo is going through what myself and a lot of other recovering Republicans have come to realize. It's ALL Bull****. All of it. The parties are keeping us distracted with God, Gays, and Guns while they pilfer every last cent.

Don't take my word for it. Go work in your community with the very people that should be building American and producing the next generation. The BIG squeeze is on and your about to be schooled hard.

I know how you feel, and I know how you will feel when you do realize it's all a lie.

The only thing left to answer is when do you want the pain and how much do you want it to hurt. Decide now, because it's only going to hurt worse tomorrow.

Gen, you sure are really plastering my beloved home state of California with plenty of criticism and doom/gloom. My 9 siblings and I all spent part of our childhoods there; and most of us spent most of it there. However none of them live there or are thinking of ever relocating there. That's because the cost of living (including taxes and housing) is just way too high compared to the jobs/opportunity. IMO as long as there is no crime rates then I think it would be a great place to go galt. I really would like to live in SoCal if it could be low-crime and low-smog. However as long as I'm willing to work then I'm working and spending in low tax places and I'm frankly concerned about doing anything that could get me a paper trail established in one of those places like California or NJ where they might decide to come after me for some exit taxes and other BS. IMO its dangerous to even bill hours onsite in such places. And don't forget about the red light cameras and the cops who are going to be hard-pressed to bring in revenues.

Why have both parties refused to have AMT permanently indexed to get cost of living increases? My guess is that they like to be able to have the COB future revenue estimates show what the revenues would look like IF they actually collected revenues without any AMT fixes where the people actually don't make any adjustments to their financial planning/activities as a consequence of getting raped in the future by AMT. If they were to actually really fix the AMT game then COB deficit future projections would go through the roof. That would cause Congress all sorts of problems in trying to ensure the FSA get their future goodies.

Yep