$77,000 tax deduction for a dressage horse

So if you're loaded and "invest" in dancing horses, you can deduct from your taxes more money than the average family income makes in a year.

This guy has NO clue how the average American family lives.

Quote from politicaljunkie : So if you're loaded and "invest" in dancing horses, you can deduct from your taxes more money than the average family income makes in a year. This guy has NO clue how the average American family lives.

Neither does Obama so I guess the average American is screwed in this election.

Quote from andyfico : Neither does Obama so I guess the average American is screwed in this election.

Obama's had a MUCH more modest upbringing than reversable mittens. He didn't come into his wealth until his book made millions prior to his run for president (which was when he and Michele were finally able to pay off their school loans). Mit has never had school loans, his kids never had school loans, they never had to scrape by, always had a safety net of obscene family money and was given every advantage a very wealth family enjoys (and deservedly so). He just hasn't faced the same hardships most people have.

Seeing as that Obama is out there doing things with the middle class in mind (other than the promise od trickle down BS) and Romney is just fighting for tax cuts for the rich, deregulation to help rich companies make more money, destruction of unions who are greatly responsible for the development of the middle class, etc.--I'd say the average American is screwed if that smarmy, silver spoon, lying sack of boring crap wins the election. While I think Romney and bush would do the same things, I thought bush was dumb/naive (when it came to policy), but not evil (he's basically a good guy deep down). I think Romney just may be the opposite.

Quote from politicaljunkie : Seeing as that Obama is out there doing things with the middle class in mind

Saddling them with even more debt than Bush?

Quote from Elmer : Saddling them with even more debt than Bush?

think youre confusing the national debt with yearly deficits elmer

Bush gave us $7 trillion in debt, obama has given us $1.4 trillion.

Maybe if he gets re-elected again he'll add more debt than bush, but to say that hes saddled them with more debt is 100% BS

Quote from Gotchaforce : think youre confusing the national debt with yearly deficits elmer Bush gave us $7 trillion in debt, obama has given us $1.4 trillion. Maybe if he gets re-elected again he'll add more debt than bush, but to say that hes saddled them with more debt is 100% BS

Then CBS News is "confused" too.....

Quote : National Debt has increased more under Obama than under Bush (CBS News) The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency. The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office. The latest posting from the Bureau of Public Debt at the Treasury Department shows the National Debt now stands at $15.566 trillion. It was $10.626 trillion on President Bush's last day in office, which coincided with President Obama's first day. The National Debt also now exceeds 100% of the nation's Gross Domestic Product, the total value of goods and services. http://www.cbsnews.com/8301-50354...nder-bush/

Bur perhaps CBS News is spreading "BS".. Lord knows they have before.....

Quote from Gotchaforce : think youre confusing the national debt with yearly deficits elmer Bush gave us $7 trillion in debt, obama has given us $1.4 trillion. Maybe if he gets re-elected again he'll add more debt than bush, but to say that hes saddled them with more debt is 100% BS

BTW, I think it's you that's "confused".... That 1.4 billion you mention is around this years budget deficit....

Quote : His latest budget projects a $1.3 trillion deficit this year declining to $901 billion in 2012, and then annual deficits in the range of $500 billion to $700 billion in the 10 years to come. If Mr. Obama wins re-election, and his budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.

http://www.cbsnews.com/8301-50354...nder-bush/

Quote from Elmer : Then CBS News is "confused" too..... Bur perhaps CBS News is spreading "BS".. Lord knows they have before.....

It's amazing what a simple Google search turns up when you put a few minutes into it and don't take what a politician says as Gospel. Even the left leaning CBS reveals the truth.

Quote from Elmer : That's what I post all the time. Get rid of all deductions. Funny, that never seems to get much support from the firebomb throwers screaming about the "super rich"......

You've got support here. Deductions help the wealthy FAR more than they help the poor. For everyone bitching about how the poor pay "no taxes" because their deductions lower their tax liability, some of the rich end up with larger deductions than poor people gross in several years.

IMO deductions should only exist to incentivize desirable behavior.

Quote from shhaggy : You've got support here.

Excellent!

Quote from shhaggy : You've got support here. Deductions help the wealthy FAR more than they help the poor. For everyone bitching about how the poor pay "no taxes" because their deductions lower their tax liability, some of the rich end up with larger deductions than poor people gross in several years..

That's because most of the rich pay far more in taxes every year than poor people gross in several years. I know I do.

Quote from shhaggy : IMO deductions should only exist to incentivize desirable behavior.

Ahh....so you're not really on board with my idea......... Deductions just allow politicians to curry favor.

Get rid of all deductions. Period.

Quote from andyfico : It's amazing what a simple Google search turns up when you put a few minutes into it and don't take what a politician says as Gospel. Even the left leaning CBS reveals the truth.

If the CBS News link is correct, I wonder if that will impact Gotcha's opinion of Obama's performance?


Rhetorical question........