Thu
Jan 3 2013
08:32 am
By: R. Neal  shortURL
The "fiscal cliff" tax deal has some interesting provisions beyond extending lower tax rates for people making less than $400K.
There are a few hidden features such as subsidies for NASCAR tracks and goodies for Wall Street. It's not all corporate welfare, though. There are also tax breaks to promote public transportation and electric bicycles.
|
Topics:
|
38
vote
|
Discussing:
- Interruptions make us dumber? (2 replies)
- A game to play on a rainy day (3 replies)
- Haslam goes off on the media (1 reply)
- Food supply under assault as climate heats up (48 replies)
- 2013 Shootings in Knox County, TN (49 replies)
- @AckerMoxley (2 replies)
- Google just creeped me out (4 replies)
- Memphis Grizzlies - First time in the NBA Final Four (1 reply)
- TBI accuses non-profit of lying, WSMV of shoddy journalism for repeating it (1 reply)
- Pilot indictment watch (17 replies)
- IBM Smarter Cities team presents findings (1 reply)
- Tennessee's loss is Indiana's gain (1 reply)
TN Progressive
- Mild Mannered KNS Reporter Puts On His Cape For Truth Justice and the American Way (RoaneViews)
- Star Trek Into Darkness immediate reaction (Domestic Psychology)
- Just So You Know: This Week In TN Guns (RoaneViews)
- Not Governing As A Political Strategy (Southern Beale)
- Umbrella-Gate: Obama Scandal (Video) (TN Guerilla Women)
- not-so-great mysteries (Domestic Psychology)
- Taking a little break for LIFE (Left Wing Cracker)
- Good News Friday (Southern Beale)
- Read this...I mean Really...Go Read This and think about it... (Kitchen Table)
- Roane County is Getting Two New Paved Trails (RoaneViews)
- Blood in the Water? (Kitchen Table)
- "Filibustering the American People" The Daily Buzz (RoaneViews)
- Senate Gets Things Done In a Hurry...Not Jobs Bill - Fishing (Kitchen Table)
- Former FBI Director Louis Freeh Hired To Investigate Haslam Company (RoaneViews)
- Tennessee Gun Report (Southern Beale)
- wise man (Domestic Psychology)
TN Politics
- For Duncan, Other TN GOP Congressmen, Indecision Prevails on Internet Taxing (Tom Humphrey)
- Crosschecking Finds 181 Unreported PAC, Corporate Contributions (Tom Humphrey)
- Michelle Obama Delivers Commencement Speech at Nashville High School (Tom Humphrey)
- Sunday Column: Appreciating Gubernatorial Ire at Media (Tom Humphrey)
- Ceremony Marks End to Coal Creek War of 1892 (Tom Humphrey)
- TBI Blasts Channel 4 Report on Disappearance of Holly Bobo (Pith in the Wind)
- Kane for Senate? Kane for Senate (Pith in the Wind)
- The Hippodrome: It's Designed To Break Your Heart (Pith in the Wind)
- Cooper Doubts The Amp Will Get Federal Funding (Pith in the Wind)
- Scary campus liberals (Post Politics)
- The skids for BRT funding? (Post Politics)
- That seems bad (Post Politics)
Local Media Blogs
- IBM's Smarter Cities Team Makes Recommendations to Lower Utility Bills (Metro Pulse)
- Corker should support federal shield law (Jack McElroy)
- Reeves nominated for U.S. judge gig (Mike Donila)
- The Weekend Plan-It: PAWS Among the Blooms, the Biscuit Festival, and Darius Rucker (Metro Pulse)
- Friday briefing (Josh Flory)
- Trustee's chief of staff steps down (Mike Donila)
- Music From This Week's Issue: May 16 (Metro Pulse)
- Panel denies St. John's demolition request (Josh Flory)
- PSA: Bike to Work Day is Tomorrow; Free Coffee is Involved (Metro Pulse)
- Thursday briefing (Josh Flory)
- The Daily Plan-It: Scruffy City Ramble, the Avett Brothers, and Robotic Pirate Monkey (Metro Pulse)
- KPMG moving downtown (Josh Flory)
Local Paper
- North Knox County man charged in brother's death (KNS News)
- 5 things to know today (KNS News)
- ET Preservation Alliance offers Alexander Inn estate 'tag' sale (KNS News)
- Tennessee Congressmen struggling with internet sales tax decision (KNS News)
- People and honors: May 19 (KNS Business)
- Business bulletins: May 19 (KNS Business)
- FreedomFest returning to Alcoa (KNS News)
- Wayne Bledsoe: A new grill is a meaty decision (KNS Business)
- Duck Dynasty stars do commercials for Clayton Homes (KNS Business)
- Pam Reeves: Understand the terms when signing a noncompete agreement (KNS Business)
Local TV News
- KCSO: Knox County man arrested for killing brother (WATE)
- Maryville man dies after car goes up in flames, then falls from bridge into creek (WATE)
- Update: Large hail falls on Knox Co. as storm rolls by (WBIR)
- North Knox Co. man charged in death of brother (WBIR)
- 1 winning ticket sold in Fla. on Powerball (WBIR)
- Knoxville Powerball players explain how they would spend $600 million (WATE)
- US 11 yard sale continues in East Tennessee (WBIR)
- Biscuit Fest 2013 takes over downtown Knoxville (WATE)
- Knoxville celebrates biscuit fest (WBIR)
- Former Vol Kenny Hall talks about his relationship with Jenny Wright (WATE)
- Medical emergency eyed in Va. parade crash near TN line (WVLT)
- Loan program for soldiers extended (WVLT)
State News
- Residents opposing Lookout Mountain wind farm near Gadsden (Times Free Press)
- Obama exhorts good deeds by Morehouse graduates (Times Free Press)
- $1 million Powerball ticket sold in Chattanooga (Times Free Press)
- Arkansas Treasurer Martha Shoffner Arrested by FBI (ABC24 Memphis)
- Report: Iran hangs 2 men convicted of spying (Times Free Press)
- Federal report documents inmate sex abuse in U.S. (Times Free Press)
- Music City Center is already thinking bigger (Tennessean)
- Fundraising ceaseless for TN officials in D.C. (Tennessean)
- Who failed the children? 407-pound teen, sister die within 4 months (Tennessean)
- Four 'medical buddy' pairs enter today's Nashville Kids Triathlon (Tennessean)
- Two dead, four others injured in Sumner crash (Tennessean)
- Mid-Southerners Purchase Powerball Tickets for $600M Jackpot (ABC24 Memphis)
Wire Reports
- Obama delivers historic Morehouse commencement (Yahoo Politics)
- Analysis: Airline emissions deal may not come before EU deadline (Yahoo Business)
- Analysis: Frontier Markets booming but risks mounting (Yahoo Business)
- Job market gains could lead Fed to taper QE3 early (Yahoo Business)
- Bankia compensation qualms signal loss of faith in Spain's banks (Yahoo Business)
- Wall Street Week Ahead: Correction talk gets old as rally sails along (Yahoo Business)
- IRS asked anti-abortion group about content of public prayers (Yahoo Politics)
- Obama: His tiger’s not grrreat! (Yahoo Politics)
- The IRS targeted tea party groups. Did liberal groups get better treatment? (Yahoo Politics)
- Obama gets break from scandals to push jobs and economy in Baltimore (Yahoo Politics)
Site Statistics
Last 7 days:
- Posts: 29
- Comments: 212
- Visits: 9,380
- Pageviews: 19,270
- Posts: 102
- Comments: 1102
- Visits: 39,277
- Pageviews: 81,945
Popular today
Popular this week
TN Progressive
- BlountViews
- Cup of Joe Powell
- Jamie Hollin
- Left Wing Cracker
- Newscoma
- Out of the Blue
- RoaneViews
- Sean Braisted
- Southern Beale
- TN Citizen Action
- Tiny Cat Pants
- TN Guerilla Women
- TN Values Authority
- Vibinc
- View From My Kitchen Table
- WhitesCreek Journal
Nearby:
- AC Entertainment
- Agrarian Urbanite
- Big Good Thing
- Blount Dems
- Bottom Line
- Craig Thomas
- Daily Pulse
- David Oatney
- Discover ET
- Domestic Psychology
- Ellen Smith
- Fletch
- Gerald Witt
- Frank Murphy
- Home/Work
- Instapundit
- Jack Lail
- Jack McElroy
- Jim Stovall
- Julie Apple
- Knox Dems
- KnoxBlab
- Knoxify
- Knoxvillager
- Les Jones
- Lynn Point Records
- MamaPundit
- Michael Silence
- Mike Donila
- MoxCarm Blue Streak
- Mushy's Moochings
- Outdoor Knoxville
- P.E.N. Studio
- People for the Planet
- Pittman Properties
- Political Leverage
- Property Scope
- Reality Me
- Rikki Hall
- Rob Huddleston
- School Matters
- Stacey Campfield
- Stop Alcoa Parkway
- Stuck inside Knoxville
- Suzy Trotta
- Tom Humphrey
- Tri Cities
Beyond:
- Andy Axel
- Daily Docket
- Democratic Talk Radio
- Enclave
- Ginger Snaps
- Pith in the Wind
- Post Politics
- Quiet Life
- Smart City Memphis
- TN Dems
- TN Ticket
- TN Trivia
- TN Women's Caucus
- Bob Stepno
- Facing South
- Lovable Liberal
- Newsrack
- Wandering Hillbilly
At large:
- Agonist
- Alterdestiny
- Atrios
- Burnt Orange Report
- Buzzflash
- College Dems
- Common Cause
- Crooks and Liars
- Daily Kos
- Democratic Strategist
- Democrats.org
- Digby's Hullabaloo
- Ezra Klein
- The Fix
- Huffington Post
- Liberal Oasis
- Media Matters
- MyDD
- Open Secrets
- Pam's House Blend
- Political Wire
- Politico
- Progressive States
- Seeing the Forest
- Skippy the Bush Kangaroo
- Suburban Guerrilla
- Talk Left
- Talking Points Memo
- Think Progress
- Truthdig
- Truthout

One thing I'm happy about is
One thing I'm happy about is the return of the Social Security paryoll tax rate to 6.2%. Lowering that tax for any amount of time was not a good idea.
In 1970 the SSI payroll tax rate was 4.2%. It was raised to 5.35% in 1981 and to 6.2% in 1990. If anything, we should continue to slowly increase this tax rate. It has been over 2 decades since there has been an increase.
The Medicare payroll tax was 1% in 1973. Forty years later the rate is 1.45%.
We're willing to pay much more for so many other things but not these two important programs.
I totally agree. Thank you
I totally agree. Thank you for saying this.
Here's something that was
Here's something that was way, way below the radar. Reid was able to get a bunch of senate confirmations that had been held up for months as part of the deal.
Ried and Obama are sometimes more effective than is than we think...
But then, there's the dark
But then, there's the dark side:
The house GOP wouldn't reauthorize the Violence Against Women Act after years of support:
even though there's bi-partisan support:
because of:
but they could find a few million to deny equal marriage rights:
and they didn't forget to stick it to small farmers:
courtesy of Mr McConnell:
How nice.
failing government
a perfect tax bill. It would not take more than several pages. Do away with all deductions and give every one a 15% tax bill yearly. One flat rate for everyone. You want to fix the budget, get the silver spoons out of Washington DC and put practical,hard working people who know what it means to work for a honest day's pay. Do away with the lobbies and the fluff bills, and get politics out of the way. For once in the political realm do what is best for the country. Nero fiddled while Rome burned. Face the fact that the trickle down theory does not work. The money trickles down as far as the suit's pocket and that is where it stays. Cut something that was not worked for and paid in by the working people. Social Security would be alright if the government had not pumped so much money into the welfare system. Pay a woman to have one child a quantity of money for the one child and no more. In some cases, one woman will rack up 12 to 15 hundred dollars for many children conceived by different men. Often these children are given to relatives and in a great many cases abused. I am willing for my taxes to pay for one mistake but a 2nd,3rd,4th is not mistakes and the woman needs to have the responsibility for those. THEY HAVE MEDICAL CARDS THAT WILL PAY FOR PERMANENT BIRTH CONTROL. (GET FIXED) If you can't afford five or six children why have them. It is not my place to pay for your little indiscretions.
Well,this was predictable.
Well,this was predictable.
SS tax rate
The Social Security tax rate should never have been adjusted downward. But, it was, and restoring the tax rate causes an effective 2% pay cut for all working Americans. That hurts!
Yes it does but not having SS
Yes it does but not having SS hurts too.
we will see
Yes, that would hurt, but we will see, won't we about the future of SS? There is still a lot of talk that the next congress will attempt to convert SS from a trust to a free market fund.
On another note, I am glad to know that the state and local sales tax deduction was extended for another year.
(link...)
Yeah, the future of SS is not
Yeah, the future of SS is not looking bright and Obama is doing nothing to prevent the SS payroll tax increase from subsidizing private financial investment.
As for the itemized sales tax deduction, I don't buy enough stuff for it to have much of an effect on me.
It is based on income
You can take sales tax on big ticket items or an amount based on your income. I think you have to itemize deductions in order to take this, but if you do, it certainly helps.
I use the free downloadable version of TaxAct to do my taxes each year and it walks you through all potential tax breaks.
So it is only a tax break for
So it is only a tax break for big spenders. Nice.
The SS tax needed to come
The SS tax needed to come back. I'm not totally thrilled about the spouse's take home going down by 2%, but it needed to happen.
And no, SS won't be converted to a "free market" system as long as Obama is in the White House. It might get fiddled with, but not to that extent.
If you as a Republican come
-William K Black
Obama is laying the foundation for the privatization of Social Security. Believe Dat.
*
That deduction for state and local sales taxes was a joke from Day One, given how few filers can itemize deductions.
According to The Tax Foundation, fewer that 36% of Americans can itemize deductions--and fewer than 26% of Tennesseans can. Other reports I've read in recent years pegged the percent of filers who can itemize at even lower rates.
The deduction was little more than a ploy on the part of a handful of Congressional folk in non-income tax states, conceived to keep state income taxes out of their districts.
And it worked.
Post new comment