Tax Fun To Come
The WSJ on "Alternative Minimum Mischief":
The dreaded Alternative Minimum Tax hike that usually whacks about four million upper-income households is scheduled to hit 26 million filers this tax year because Congress hasn't indexed the AMT income threshold for inflation. So a tax designed in 1969 to hit about 200 taxpayers may sock families with incomes as low as $60,000 a year. You know, "the rich." The average AMT surcharge will be about $2,000, according to ranking Republican Charles Grassley on the Senate Finance Committee.This Congressional abdication is too much even for IRS Commissioner Doug Shulman, an Obama appointee, who wrote a letter this week scolding Congressional leaders for playing politics with the tax code. Mr. Shulman warned that tax refund payments could be delayed next year for millions of filers and IRS tax forms may have the wrong information. Taxpayers may also face the frustration of having to file their tax returns twice. "I want to stress that it would be extremely detrimental to the entire tax filing season and to tens of millions of taxpayers if tax law changes affecting 2010 are deferred and then retroactively enacted in 2011," Mr. Shulman wrote.







Unfortunately, most members of Congress are dysfunctional, sociopathic individuals, which must be why they ran in the first place.
Tony at December 3, 2010 10:20 PM
A good recent one from Big Mac includes this horrific factoid:
When I read this factoid, considered what my government servants at the city, state and federal levels have in mind for the rest of my working life, I reached two conclusions:
• Communists won the Cold War. (Not kidding! Not using language for effect!)
• They won by appealing to people's hearts and minds. (As a function of human nature, almost everyone on the planet, from the retro-insured financier on Wall Street to the teenage single mother, wants and feels entitled to a $weet Federal juice, whether secretly or shamelessly acquired.)
Bad times. Bad times ahead.
Crid [CridComment at gmail] at December 3, 2010 10:22 PM
Amy Alkon
http://www.advicegoddess.com/archives/2010/12/04/tax_fun_to_come.html#comment-1793291">comment from Crid [CridComment at gmail]We came through Customs at LAX today, and had a pretty long wait. For our line (residents and citizens) there was ONE inspector, and intermittently, there was another guy, too. The basic stuff we've been used to for years, the stuff that made this not seem like Communist Russia, is going by the wayside -- and probably to pay for all the ridiculous programs, bank bailouts, and excessive spending.
I'm still enraged that the LA City Council sent $24K to Mexico for some festival called "Grito" or "Gritto." Fuck you. That's my money, you assholes. Parking tickets are now $65 for street cleaning violations -- to pay for their profligacy. And the morons of Los Angeles keep electing the same old pandering morons. Starting with the mayor.
Amy Alkon
at December 3, 2010 11:54 PM
"Communists won the Cold War. (Not kidding! Not using language for effect!)"
Let's not go that far. It seems that the humanity is taking the approach, "Meet me in the middle."
It seems to me that the Chinese are on to something by mixing the Communism, capitalism and democracy.
The next ruler of China is already identified, Xi Jinping, who will take charge in 2012. Considering Hu Jintao is most likely alive in 2012, it seems Hu is not interested in holding on to power until he dies of cancer.
Considering Xi was elected by popular votes among communist party members only, the Chinese are cherry picking the best parts of the each system.
Considering all of the Wall Street CEOs and their fuck buddies got filthy rich before and after the market crash in 2008 with blessings from government officials elected by direct democracy by all of us, it is not too late for us to adapt to the changing environment in Darwinian sense.
The direct democracy is so 20th century.
Chang at December 4, 2010 7:40 AM
Well, people like their free shit. I feel very smug and superior when I compare myself to those welfare queens, sucking off the public teat and getting paid to breed. But I'm not just down on parasites at the bottom end of the income spectrum, I'm against the rich bankstas getting bailed out too!
No, I'm in the poor oppressed middle class who is just getting screwed paying for everyone else. Of course, I expect to quit working when I'm 62, even though I will be completely healthy and capable of supporting myself, and even though I haven't saved much. I blew $500K on a McMansion that now sells for $200K, and my 401K is barely worth what I paid in to it. But the government will write me a good-sized check every month, and in another 15 years when my liver or kidneys start to go, it will spend $1.5 million on my organ transplant surgery. That's not welfare, though, because I paid into the system! So I get to sit here and bitch about how much everyone else gets at my expense. I wish there weren't so many people out there drinking the water, with me being one of those poor honest people carrying it!
Pirate Jo at December 4, 2010 9:33 AM
> "Meet me in the middle."
Can I fuck you hard enough that you're half-pregnant? Wouldn't that be fair?
> Let's not go that far.
How old are you?
Crid [CridComment at gmail] at December 4, 2010 10:35 AM
> The direct democracy is so 20th century.
You such a stupid little fuck. If you want communism, GO BACK.
There's a resaon that you won't, little fella.
Crid [cridcomment at gmail] at December 4, 2010 11:52 AM
...We all admire your adoption of contemporary hipster idioms, though.... That's so [five minutes ago], etc... Spoken stylishly, as if you actually had an open mind, rather than a reflexively oppressed one. Your miseries are ancient, and it's democracy that's brought you to this country for a future of relief.
Crid [cridcomment at gmail] at December 4, 2010 11:55 AM
Thank you, Crid and Pirate Jo. I'm jetlagged and using what foggy brain cells I have to work on my column, and couldn't do justice to the ridiculousness like you did.
Amy Alkon at December 4, 2010 11:58 AM
Americans were forced to buy U.S. Treasury bills through their Social Security and Medicare contributions. The Chinese bought something that other people had to be FORCED to buy? I can't fucking believe it. Keep tooting that horn, Chang. Be proud. Sucker.
Pirate Jo at December 4, 2010 12:07 PM
Let's break this down:
It seems to me that the Chinese are on to something by mixing the Communism, capitalism and democracy.
This is called State capitalism (en.wikipedia.org/wiki/State_capitalism). It looks like a free market but is governed by the socialist state. They are directing what you can buy, sell, eat, and all the rest.
This already is happening in the U.S. The low flow toilets, the death of the incandescent bulbs, the FCC's attempt to take over the the internet.
The next ruler of China is already identified, Xi Jinping, who will take charge in 2012. Considering Hu Jintao is most likely alive in 2012, it seems Hu is not interested in holding on to power until he dies of cancer.
Considering Xi was elected by popular votes among communist party members only, the Chinese are cherry picking the best parts of the each system.
This is like saying that the 30% democratic population has the right to decide for the rest of the U.S. population who their leaders are.
Considering all of the Wall Street CEOs and their fuck buddies got filthy rich before and after the market crash in 2008 with blessings from government officials elected by direct democracy by all of us, it is not too late for us to adapt to the changing environment in Darwinian sense.
The problem is that between Greenspan taking a laissez-faire approach to the fed and the banking system and everyone cooking the books, including Freddie and Fannie, the whole system was and is artificial. The Federal Reserve Bank should not exist -- for that fact about 75% of the federal bureaucracy should not exist.
It boils down to you have no true grasp of how the whole system works. Educate yourself and then come back and we might consider your opinions as valid.
Jim P. at December 4, 2010 2:17 PM
Even setting aside the typo, the 11:52AM one was a titch snotty and personal.
Just a smidge.
Crid [cridcomment at gmail] at December 4, 2010 2:42 PM
I'm always amazed when people who speak well of communism and socialism and still live in the United States (ok, in this case, I'm making an assumption). If you think their system is better, move there! Why change our system to be the same when there's already a country that's so perfect for you?
But leave the rest of us alone.
It seems to me that most people who speak well of communism and/or socialism either picture themselves as the one in charge or as living off the system without having to do much.
Some of us work for a living and would like the govt. to be small enough that we can keep some of what we earn. I don't mind contributing to help someone who genuinely is going through a tough time, but I resent having to pay for people who just don't want to work.
KrisL at December 4, 2010 3:14 PM
Amy Alkon
http://www.advicegoddess.com/archives/2010/12/04/tax_fun_to_come.html#comment-1793586">comment from KrisLI'm with you, KrisL. I know a number of people who grew up or spent part of their lives in communist Russia, and there are many very good reasons a lot of people were trying to escape to the west and not the other way around.
Amy Alkon
at December 4, 2010 3:37 PM
> amazed when people who speak well of communism
> and socialism and still live in the United States
I really do feel bad for getting all pissed, but I feel even worse for this kid being a dorkasaures.
Crid [cridcomment at gmail] at December 4, 2010 3:55 PM
Dammit, I keep wanting to apologize, but I can't find the words. They just won't come.
Crid [cridcomment at gmail] at December 4, 2010 3:58 PM
"Dammit, I keep wanting to apologize, but I can't find the words. They just won't come."
I did not think I will live long enough to see this. But we both know that you are bullshitting.
However, don't bother. I come here looking for a bar fight.
The distance between China and you is not different from mine. It is just simply another foreign country I heard of. They make cheap electronics for me and buy our treasury bonds for reasons I don't understand.
You seem to be pissed off at current affairs of the State, so I simply suggested possible alternative to get out of this mess.
When the dust settled down after the economic crisis in 2008, you find out only people lost money were the taxpayers (you and me). The people, who engineered the entire mess either got rich or still working in the same position as they got re elected by the taxpayers (you and me).
Did it ever occur to you that maybe you and myself are the source of entire problem by exercising our voting rights to elect them at the first place? Our founding fathers never had direct democracy in their mind.
The Chinese are not known for their generosity. We need to elect the politicians to cut the entitlement spending for the poor and remove tax breaks for the riches. This is the only way to pay off the debts we owe to them. And it is going to be very painful experience.
And if you think we can accomplish this through direct democracy, indeed we have "Bad times. Bad times ahead."
Chang at December 4, 2010 6:17 PM
> I simply suggested possible alternative
> to get out of this mess.
Thanks anyway... I'd rather overpower the ninnies.
PS— What's this "direct democracy" stuff? It's smells like "critical thinking"... An extra word conveying nothing.
Crid [cridcomment at gmail] at December 4, 2010 6:31 PM
Nice try, Chang, but I'll accept none of it.
We elect the least bad of two choices. We have a government that does not stick to the limits defined in the Constitution, aided by an unelected judiciary.
What are you proposing, a revolution? I voted for a Tea Party endorsed candidate who won, tossing Charlie Rangel's former deputy (a local boy who went to DC to do good for himself) to the curb.
We'll see what she does, and if it's not enough we'll kick her out. I'll keep voting. I'm not quite ready to give up on the system and start shooting people. History is full of people who wanted radical change. So are the graveyards.
MarkD at December 4, 2010 7:04 PM
"Thanks anyway... I'd rather overpower the ninnies."
Your comment remind me of a joke I heard at a comedy club. The comedian said he is looking for someone ugly and suspicious, who just stole his wallet. When no one came forward, he asked the audience to help him to find someone ugly and suspicious.
At first, he asked us to look to our right to see if that person is ugly and suspicious. When no one said anything, he asked us to look to our left to see if that person is ugly and suspicious.
When no one said anything again, the comedian said that "Well, it has to be you, then."
Did it ever occur to you that maybe you are the ninnies?
Chang at December 4, 2010 7:34 PM
> remind me of a joke I heard at a comedy club.
In which country?
> Did it ever occur to you that maybe
> you are the ninnies?
It might, if there weren't so few toiling to get out and so many struggling to get in and join us. Over the fullness of your short lifetime and well beyond, the United States has accepted more immigrants than all the other nations of the Earth put together. Perhaps, like you, they came looking to be told how to live... But that seems really unlikely, or they'd have stayed where they were. I mean, you can find incompetence and authoritarianism anywhere....
Crid [CridComment at gmail] at December 4, 2010 8:02 PM
Offtopic "mischief"— Reap-sy / sow-sy.
Crid [CridComment at gmail] at December 4, 2010 8:04 PM
And for those of who work for a living -- we are probably going to get f'ed no matter if the illegal lame duck session passes the extension of the tax cuts or not.
The payroll companies (such as ADP, Compupay and the hundred others) have less than four weeks and counting to reprogram their systems to get back to the current tax rates.
Will they be able to do it in time?
Jim P. at December 4, 2010 9:02 PM
"Perhaps, like you, they came looking to be told how to live... But that seems really unlikely, or they'd have stayed where they were. I mean, you can find incompetence and authoritarianism anywhere...."
Not really. Go ahead and read again your first comment on this thread.
You sounded defeated and I hate that.
You are disillusioned that you can dictate the outcome of the election by simply overpowering "the ninnies". It ain't so. You have only one vote and so do the ninnies.
The one thing I admire the most about this country is that our founding fathers gave two senators from the each state regardless of their sizes. It is unthinkable compromise in current day standard and this kept the 50 states together for more than two hundred years by ensuring Texas not being able to walk all over the Rhodes Island. And our founding fathers wanted these senators appointed not elected by the ninnies. They simply distrusted the will of the majorities, who wanted free things out of the government at the expense of the minorities.
I simply want to go back to the system our founding fathers created for us. Once we have the appointed senators, who are not elected by the ninnies, who believe money will come from ever increasing value of the homes, we might have a chance to pay back the debt we owe to Chinese instead of asking our grand children to deal with it.
That is far more gentleman thing to do even if that meant you lose the power to vote for your favorite senator and get all pissed off about it for the rest of your life.
Chang at December 5, 2010 7:37 AM
Chang, we are not going to pay back our debt to the Chinese. Americans don't have $43K apiece (including 90-year-olds and children) and never will.
Pirate Jo at December 5, 2010 10:24 AM
> You have only one vote and so do the ninnies.
But I see the world as it is, while they're (you're) clouded with fear and other weaknesses. I enjoy powerful advantages. It's a pain to have to do this, especially with the life of richness I've enjoyed heretofore, but this planet is all about doing one's chores.
And I don't think you're courageous enough, or maybe even OLD enough, to counsel on how a "gentleman" behaves.
Crid [CridComment at gmail] at December 5, 2010 5:56 PM
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