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Congress, The Aproval ratings are in Not Pretty : Swingers Discussion 78861
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FORUMSGeneral DiscussionsPoliticsCongress, The Aproval ratings are in Not Pretty
TOPIC: Congress, The Aproval ratings are in Not Pretty
Created by: Lucky2haveU
Original Starting post for this thread:
AP poll Shows Congress has a 35% APPROVAL rating...Nuff Said.

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The House has passed 2 bills, 1 making the locals report illegals and the other removing federal funds if it happed...no more sanctuary cities, states or communities. Now the bill goes to the Senate.

:=)

Philadelphia PA
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Destin

I'll not go any further. I've pointed out two points in error. If you've got documented information concerning those two points that I posted on to the contrary, go for it and provide it. Go ahead and look up the two Acts and read for yourself. I believe as a CPA I know a little about whether or not FICA has been a tax deduction which at least has not been since I was 16 and definitely not as a practicing accountant preparing taxes since 1983 and I looked up when your reference to Al Gore was passed and I'm sorry but it was passed and signed by Reagan in 1983 for the starting of taxation on social security benefits. Al Gore voted in 1993 to increase the amount being taxed but as I said....started with Reagan.

St Petersburg FL
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Keep going St Pete, all points are true.

Destin FL
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Destin

I was in error on the removal of the cap on Medicare taxes withheld....Clinton signed that one into law, not Reagan. The other affects were as I previous stated as far as the Tax Reform Act of 1986. Hey at least I admit when I'm wrong. The cap on wages was removed for Medicare Tax Withholding in that same legislation where Gore cast the deciding vote. That act by the way, was called the "Omnibus Budget Reconciliation Act of 1993"

St Petersburg FL
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Destin

Took a look at another point:

"Q: Which Political Party started taxing Social Security annuities???? A: The Democratic Party, with Al Gore casting the "tie-breaking" deciding vote, as President of the Senate, while he was Vice President of the USA . "

This does not ring true either. Ronald Reagan was president from 1981 through 1989. From the National Center for Political Analysis:

"Social Security benefits were not subject to tax prior to the 1983 Social Security Amendments, which imposed taxes on up to half of benefits for single retirees with "modified adjusted gross income" over $25,000 and for couples with income over $32,000."

Also, from the same source:

"The tax section of the Omnibus Budget Reconciliation Act of 1993 added a second tier of tax. Single retirees with income above $34,000 and couples with income over $44,000 have to add 85 cents in benefits to taxable income for every dollar of income above these thresholds until 85 percent of their benefits become subject to tax. It is this added layer of tax on benefits, passed by the Senate when Vice President Gore cast the tie-breaking vote, that the House voted to repeal. "

The article goes on to say later:

"Despite its name, the Social Security benefits tax is not a tax on the benefits, but rather a tax on other retirement income. No tax is paid until the other income reaches a certain level."

The second qoute is the part that concerns Al Gore casting a deciding vote. However, the start of taxing social security annuities was signed into law by Reagan.

St Petersburg FL
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Destin

Without researching all your points about who did what. This point you made:

"Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?

A: The Democratic Party. "

This one is just totally incorrect from my knowledge, unless your talking about excess FICA withheld, which is still deductible.

I am a CPA and have been preparing individual tax returns since 1983 as a professional and filed my own tax returns from the age of 16 until starting my accounting career in 1983. To my knowledge FICA has never ever been an income tax deduction, only excess FICA withheld by multiple employers as each employer has no idea what has previously been withheld on a persons pay from other employers during the same year. Therefore, if you have 2 or more W-2's and the FICA withheld exceeds the FICA wage base limits, you get to claim a deduction. If you have something to the contrary please supply your source.

And not only that but I can tell you that it was the Regan administration with the tax reform act of 1986 (actually a total recast of the code...was the 1954 code - my birth year, now is the Income Tax Code of 1986) the limit on Medicare Taxes was removed so you have withholding for Medicare unlimited on all wages. In addition, the Tax Reform Act of 1986 brought in the multitude of "passive loss" rules which was the exact opposite of what the Act was called...."Tax Simplification". That Act complicated taxes to the nth degree and continues to this day.

St Petersburg FL
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Scotty

I agree with your first point as that is what I was referring to earlier. However, you said in point 2:

"2. raising the minimum wage most certainly causes wage inflation. In places with a "living wage" unemployment goes up."

I disagree with this statement as demonstrated in the current economy in that we are not in a period of wage inflation. The national wages are stagnated according to all reports.

And your point number 3 I somewhat agree with in that any affect (as I previously posted) will not be reported on for months down the road.

Therefore, to blame all economic woes on the 1 month old minimum wage increase is not supportable by documentation. And I don't care if you're talking about newspapers or articles on the internet. I personally don't read the paper for my news....I get my news from internet searches and various media sources. In other words not just CNN. The cause and affect of current job layoffs is as you and others have pointed out....earnings and credit tightening.

St Petersburg FL
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Republicans cant even if they wanted too. its already GGGGOOOONNNEEE...

Imperial MO
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Want too? shit it is all but gone.

Imperial MO
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Q: Which Political Party took Social Security from the independent "Trust Fund" and put it into the General fund so that Congress could spend it? A: It was Lyndon Johnson and the democratically controlled House and Senate. -------------------------------------------------------------------- Q: Which Political Party eliminated the income tax deduction for Social Security (FICA) withholding?

A: The Democratic Party. ----------------------------------------------------------------------- Q: Which Political Party started taxing Social Security annuities???? A: The Democratic Party, with Al Gore casting the "tie-breaking" deciding vote, as President of the Senate, while he was Vice President of the USA .

-------------------------------------------------------------------

Q: Which Political Party decided to start giving annuity payments to immigrants?

This is MY FAVORITE:

A: That's right! Jimmy Carter! And the Democratic Party of course! Immigrants moved into this country, and at age 65, began to receive Social Security payments! The Dem ocratic Party gave these payments to them, even though they never paid a dime into it! ----------------------------------------------------------------------

Then, after doing all this lying and thieving and violating of the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!

Destin FL
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TOPIC: Congress, The Aproval ratings are in Not Pretty