Surprise butsecks "backdoor" tax

[jrhaile]

Really is anyone surprised at all. If you didnt see this shit coming form a 100 miles off, you need to be paying way more attention.


Yheaaaaaaa for taxes I think I will give 92% of my gross income to the govt's and then maybe I can has 12 bucks a week to buy my grule

Not surprised, I knew this was coming back in November.

[Ryan Stewart]

Did you read my earlier post? It's #3. I clearly (I thought) mentioned the costs of Federal subsidies. It is patently ridiculous.

For instance, why have profitable corporations been enjoying an influx of public monies? Free market economy, my ass.

McCain proposed $39 billion dollars in federal help for the oil and gas industry. Pardon me, but don't they already post record profits every quarter???

Not any more. Have you been around lately. They have been taking a beating since the value of their commodity fell. When the price of oil was high they began a shit ton of investment to get more supply but then the demand fell like a motherfucker and Hillary CLITon stopped talking about windfall taxes.

Just shitting on a business because they have a banner year is bullshit. They are stocking up for those lean years. Now, the big mistake is on the other side of the coin. Dont punish them for doing well but also dont reward them for doing shitty (bailouts).

[mrsleeve]

Not any more. Have you been around lately. They have been taking a beating since the value of their commodity fell. When the price of oil was high they began a shit ton of investment to get more supply but then the demand fell like a motherfucker and Hillary CLITon stopped talking about windfall taxes.

Just shitting on a business because they have a banner year is bullshit. They are stocking up for those lean years. Now, the big mistake is on the other side of the coin. Dont punish them for doing well but also dont reward them for doing shitty (bailouts).

Not totally true, EXO is still out wild catting like a mother fucker, they are out spending every one. BP, COP, RDS.A, MRO. All of them are cutting their Wild Cat exploration spending from 8-18% this year While EXO is actually increasing their spending from last year by a few %. EXO is also in the process of closing a 31B dollar deal with XTO (one of the largest Natural gas producers) to get in on some of these new NG fields in a big way. EXO and transcanada are going through the FERC process and securing funding for another 48" Pipeline off the North slope of Alaska to bring natural Gas to market, estimated cost of that line is 30b and bring up to 4.3BCF of gas to market a day to be in service by 2020

Edit: Just heard to day (have to confirm though) form a very good source the EXO is also just gone joint venture with PA General Energy for Natural gas production on something like 247,000 acres worth of leases.

EXO is the exception right now and over all yeah most of them are tightening up the belts a little bit and cutting back. This move by EXO could further cement its standing at the top by getting in and finding new Plays, while everyone else is standing on the side lines, or it could put a big hurting on them for the future.

[gwb72tii]

It's time every American stops paying their taxes... fuck the government, fuck Obama, Fuck Bush and fuck you all too.

[Justin B]

I am NOT going to get into this, but lol all you want. The only tax that we do have a choice, but not a popular one at that, is our income tax. FUCK that shit. It is absolutely not a LAW to pay income tax from a W2, in the constitution the government has the power to collect taxes. Ok. Not that absolute particular one though. It's incredibly complicated though, and actually Ive had some pretty deep discussions about it with my coworkers/boss/engineer where I work. Strange, because if you just don't go W2, and call yourself an independent contractor and fill out a 1099, paying no taxes till tax return time comes you DO have to pay up since it's a capital gain throughout the year not a "wage".

I still pay it, but I'm getting pissed off enough to start keeping my own god damn money. The Gov't services can go fuck themselves. It's barely worth the peace of mind anymore.

[ck_taft325is]

1099's WILL fuck you in the ass though. You're taxed at a much different rate. My wife was a Nanny for 4 little brats from well to do rich families. They paid her very little and come tax season, handed her a 1099. The first year she Nannied, she had no idea. She ended up having to PAY nearly $3,500 in taxes. Then we got married and I told her that household employee's, Yes, EMPLOYEE'S (Nannies, Gardeners, House keepers and so on) recieve W2's and them handing out a 1099 was a way to scape goat having to pay the Social Security, Federal, etc etc. The Government doesn't WANT you to take care of your own shit. They penalize you for it if they can get away with it.

So, if you go 1099, you better stay on top of your taxes and be prepared to get fuckered... more so than regular.

[mrsleeve]

I am NOT going to get into this, but lol all you want. The only tax that we do have a choice, but not a popular one at that, is our income tax. FUCK that shit. It is absolutely not a LAW to pay income tax from a W2, in the constitution the government has the power to collect taxes. Ok. Not that absolute particular one though. It's incredibly complicated though, and actually Ive had some pretty deep discussions about it with my coworkers/boss/engineer where I work. Strange, because if you just don't go W2, and call yourself an independent contractor and fill out a 1099, paying no taxes till tax return time comes you DO have to pay up since it's a capital gain throughout the year not a "wage".

I still pay it, but I'm getting pissed off enough to start keeping my own god damn money. The Gov't services can go fuck themselves. It's barely worth the peace of mind anymore.

OK since I am on my phone I will make this short

1). You still have to make quarterly estimated tax payment, if you don't you pay some stiff pentalties at the end of the year at tax time

2) go ahead you try that. Not paying thing, you will end up in jail, all who have tried it pay huge fines and interest and many get federal prison time out of it.

I will go into this more when I. Get in from work