Monday Morning Comments from Trader Rog
Stealth tax increases via ObamaCare Increased Heavily across the Board.
“Hello 2015” From Our Northern Advisor Regarding New Taxes
A reminder for those who forgot or for many that didn’t know…Our Northern Advisor 1-10-15
Here is what will happen on January 1, 2015: –Top Medicare tax went from 1.45% to 2.35%. -Top Income tax bracket went from 35% to 39.6%. -Top Income payroll tax went from 37.4% to 52.2%. -Capital Gains tax went from 15% to 28%. -Dividends tax went from 15% to 39.6%. -Estate tax went from 0% to 55%. -Remember these facts: -These taxes were all passed only with democrat votes, no republican voted for these taxes. -These taxes were all passed under the Affordable Care Act, aka Obamacare.
Roger: Without doing the math it appears that including state, local and energy taxes, the total annual tax bill for most will now exceed 50% headed for 60%. I’m not sure but it is likely we are the highest in the western world. I know German income taxes, which many would expect would be quite lofty are 30% versus the newUSA income tax of 39.6%.
-End-
Interesting Ebolan, I had not heard that.
They obviously couldn’t raise the fed. gas tax by themselves. However, with a couple trillion $ in crumbling bridges, highways, etc. where would you raise the funds to get on with the job of repairing that infrastructure. This would seem like a painless time to add $.10 to the tax. Or, we could simply borrow some more from the Chinese. If a government doesn’t tax it’s citizens for the public needs, where else can the funds come from???
Let’s get this straight: Our government doesn’t need this KIND of tax. Question: Why doe a government with a printing press have to raise taxes? Answer: It doesn’t, for the same reason that a man with a printing press doesn’t have to work. Second, God is our enemy, that is why our economy is collapsing. We need to repent. Our sins stink to high heaven. A nation that embraces homosexuality is on the verge of extinction; the reasons are numerous and obvious, BUT NOT TO THE BLIND!
How about we end all foreign aid, bring all our troops home and just protect America. That would provide the money many times over.
Our bridges might be crumbling, but our biking and hiking trails are doing fine–probably because they suffer very little wear and tear.
And let’s not forget all those federal subsidies for mass transit–empty buses buzzy around plugging up traffic in the cities.
And then comes AMTRAC constantly grovelling for more bailouts .
It all comes out of the same pot of $.
Diss is the AGENDA 21 UN GREEN TAX !
Interesting Belgium gentleman turns into an interesting Chinese gentleman!
You are great, Franky!
I follow the MONNY AL ! Thank’s !
Hey all:
Just got done reading Ron Rosen’s PDF presentation just published on 321GOLD. As much as I would like to say RIGHT ON!…nothing in this market makes sense. IN FACT, I WILL GIVE ANYBODY ON THIS SITE A GUINNESS OR FINE WINE if you can accurately tell me why two-so called experts like Harry DENT and Ron ROSEN can adamantly and fundamentally differ on the future direction of gold and silver; and not only differ but are decisively positive that they are right. Well, I am placing my bets on ROSENS ultra bullish corrective position that is coming to an end. This point is, in the ERA of QE nothing can be determined dynamically by so-called technicals and experts. That is my opinion. But, FUNDAMENTALS do eventually win out. This MASSIVE global printing con game has never been done before……my bets have been placd along time ago…I hope and pray you guys have done the same. Dont try to out-think the future…just use your common sense…..and……..hang on..:)
Absolutely right. I am with you on this.
PS..dont waste your time trying to answer my question…I am too lazy to buy and send the wine/beer anyway…..! hahaha….:)
Marc…..How dare you refer to GUINNESS as beer….Its more than that…………..
It’s the nectar of the Irish Gods….Talking of which I’m off down to my local rub-a-dub for a sample…………haha
Guinness is a FOOD GROUP, everyone knows that. It is a scientific fact.
Newcastle Brown Ale beats Guinness hands down!
Not only that but there is a ward in Victoria Hospital for drinkers of NBA, it’s just that good.
DT….I had two gottles of that , last night….YUM-YUM..Guinness , YUM-YUM-YUM.
Don’t leave out Moosehead……a redneck favorite…
AL….Me likes liquid food……owing to the fact that the tooth fairy stole all my teeth.
Enjoy…IRISH!…enjoy…I am sure you will!!
Great one!..Big Al…HAHA
Regarding the “Stealth tax increases via ObamaCare Increased Heavily across the Board.” Tampa Bay Time’s Politifact.com rated this a “Pants on Fire.” Here’s the link that clarifies the facts. http://www.politifact.com/truth-o-meter/statements/2015/jan/05/chain-email/what-will-happen-taxes-january-2015-chain-email-wr/
What Roger Wiegand said does not jive with what I have found. From Morningstar:
“Not too much to report here. Dividend and capital gains rates will remain the same in 2015 as they were last year, though the income tax brackets used to determine those rates have been adjusted for inflation. Investors who are in the 39.6% income tax bracket will pay a 20% tax rate on qualified dividends and long-term capital gains; investors in the 25% to 35% brackets will pay a 15% tax rate on qualified dividends and long-term gains; and investors in the 10% and 15% tax brackets for income tax will owe 0% tax on dividends and long-term capital gains.”
http://news.morningstar.com/articlenet/article.aspx?id=679625
It appear Roger Wiegard is quoting from a chain email that gets tax rates all wrong. See below:
In 2015 the estate-tax exemption is $5.43 million per individual. The top estate tax rate on amounts above the exemption is only 40%.
My estate tax and probably most people here is still 0%. No one has a 55% estate tax.
My 2015 dividends and capital gains tax is still the same from last year.
Heard today DemoNcrats in the Imperial Senate will make a move to raise the federal gas tax. No matter how high taxes are they are never high enough for DemoNcrats