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‘Sequester’ not so bad

March 6, 2013

Federal spending cuts labeled “the sequester” will be a terrible calamity, the White House warned during the weeks before they kicked in Friday....

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(68)

twocentsworth

Mar-06-13 11:31 AM

Lets cut you pay by 20 percent and see how you like it..

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Scarecrow57

Mar-06-13 11:54 AM

Rest assured Obama and friends will make these cuts where they hurt the most all the while protecting their corporate buddies.

twocentsworth - is right. Instead of cutting the fat and the excesses they hit the employees thus creating an uproar. In the end the people say you can't cut that and they will say we tried. How about they cut the foreign aid first, follow that with Subsides to all, including Oil, Green energy, Agriculture, PBS, NPR, Amtrak.......

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adkkev

Mar-06-13 1:08 PM

The decrease in the Social Security tax of 2% was not a good idea in the first place, especially when we're being consistently warned that the SS fund is going to run short of funds in the next decade or so. SC, most business folks will tell you that payroll is one of the easiest and quickest ways to cut expenses.

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Scarecrow57

Mar-06-13 1:14 PM

adkkev - Sorry kev, but that tax break was welcomed and should be maintained with one caveat. You must invest any tax break you get into a private retirement fund. If I had the $200,000 that I and my employer have dumped into this Ponzi scheme for the last 40 years (with the government interest rate of 6%) I could retire today instead of 10 years from now. SS is a complete and total failure for many.

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Gemini

Mar-06-13 1:22 PM

We should demand that the politicians themselves be the first to take a cut. How about going back to one dollar a year salary and then go back to your regular job like the crooked lawyers that they are? My apologies to all the honest lawyers out there--opps--oxymoron!!

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rschweizer

Mar-06-13 1:41 PM

adkkev, very true. It was made very clear by both the Clinton AND Bush Administrations that SS would be in serious jeopardy as the 'babyboomers' approached retirement and the younger people two generations under them became fewer and fewer. So cutting that 2% should never have been an option to even begin with, especially with what was known.

So why it was done anyway is a mystery to me and should be to others. After several years of a temporary cut, which has since expired as of 12/31/12, we're all basically paying for lost time that could take years to catch up to where it needs to be.

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TiredOfTax

Mar-06-13 1:48 PM

Where do you see cuts? This administration is going to spend where it see fit. It is going to give $60 million in aid to Syria 50 million for new TSA Uniforms and on monday alone the feds posted 400 job openings! The federal government is going to bring in an all time record tax income this year and will spend substantially more than it did last year. This government is not going to be frugal in the near future whatsoever!

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rschweizer

Mar-06-13 1:51 PM

Scarecrow57,

Here's an idea: why don't you create your own tax break? It's not impossible. The one big mistake I see is that a lot of people either depend or will depend SOLELY on SS for retirement, which isn't the widest thing.

Start your own 401(k), 403(b), or IRA (if you haven't already), and contribute what you would have otherwise with your money. All contributions, with a max annual limit of course, are PRE-TAX, meaning your tax liability is reduced.

As an example, say you earned $100,000. That extra $2,000 a year reduces your taxable income to $98,000, and that's not including any other deductions.

It all adds up. There are a lot of us, myself included, with no pensions to rely on, just a retirement account and SS. So using the breaks given to individuals like yourself are the wisest choice.

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rschweizer

Mar-06-13 1:55 PM

Gemini, going back to a dollar a year does absolutely nothing.

NYC's mayor Michael Bloomberg has earned a dollar a year for every year he's been in office; and he's also increased his wealth by comething like 25% since taking office. Just this week, Forbe's listed him as something like the 13th- or 14th-richest person on the planet.

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TiredOfTax

Mar-06-13 1:59 PM

rschweizer thanks for the advise you gave to Scarecrow57 but with this government of services dependent people and redistribution of wealth you may be much better off wasting all of your assets and going on the government ride. Easier and you get EVERYTHING that a worker gets without the hassle of going to get or hold a job!

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taxtired

Mar-06-13 2:03 PM

goes to show must polititians are crooked.

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taxtired

Mar-06-13 2:04 PM

martha stewart went to jail for insider trading.

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taxtired

Mar-06-13 2:06 PM

Maybe Bloomberg owns a cup factory. Now he gets to sell 2 cups instead of 1.

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TiredOfTax

Mar-06-13 2:08 PM

The Obama administration is facing criticism for giving $250 million in aid to Egypt The $250 million amount -- which in this case includes $190 million from a total of $450 million earmarked for Egypt, is unfathomable that the administration would send funds unconditionally to the Muslim Brotherhood-led government,

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rschweizer

Mar-06-13 2:23 PM

TiredOfTax, I commented with advice that is FACT- not my opinion. The IRS has specific guidelines and breaks available to everyone regardless of how much income you earn. And yet you someone find a way to find a fault in that?

So let me get this straight: you will sit there at your desk at the Leader-Herald and complain about how people need to stop relying upon the government for sustinence; I give you the same advice millions of others have taken in order to reduce your taxes; your whine and complain; and somehow that's 'bad'?

Aren't you fake Republicans always screaming about getting off the government teet? Yet here you are screaming about SS shriveling up despite there being MANY other ways to gain a retirement income.

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rschweizer

Mar-06-13 2:24 PM

taxtired, Martha Stewart isn't a politician.

Are you just throwing anything you can out there today?

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taxtired

Mar-06-13 2:29 PM

we all know that dum dum

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taxtired

Mar-06-13 2:43 PM

rs You are just amazing. You can write a paragraph but can't interpret one simple sentence.

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taxtired

Mar-06-13 2:44 PM

Is this because it is harder to twist the words ???

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rschweizer

Mar-06-13 3:26 PM

'we all know that dum dum'

So why did you use that in your example?

If you're going to call people 'dum dum', why don't we call you Lexington Shining Star of the Month?

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MrBoB51

Mar-06-13 3:27 PM

Nothing happened!? Nothing other than a constant avalanche of mis-information.

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MrBoB51

Mar-06-13 3:31 PM

Besides, there were no REAL cuts. Only cuts to further spending. Example: I told you I could give you $3,000, but now I can only give you $2,800, are you ok with that? NO NO NO NO!@&$% I WANT THAT $200!!!! Now, add 9 zeros and that's where we are.

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MrBoB51

Mar-06-13 3:35 PM

I believe the real numbers works out to spending 3 cents/dollar less than they thought. Good start. May I have another, sir?

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taxtired

Mar-06-13 4:19 PM

I was refering to the little green man on the flintstone cartoon from way back. That was his saying for Fred. You remind me a lot like him dum dum.

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taxtired

Mar-06-13 4:22 PM

rs You have a very sick mind for even thinking Lexington.

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