Obama Care

[saden1]

Originally Posted by mlmpetert

So you have to pay 90% of your the current years tax liability or 100% of last years tax liability (or 110% if you make over 150k) or otherwise you get hit with a 20% penalty (additional tax) on your underpayment. Im guessing that since first owns his own business his accountant has him make 100% or 110% (if first makes over 150k) tax payments based off of last years income taxes.

So i guess techniqely Obama is returning more of his money, but only because he earned less money and therefore doesnt have to pay as much taxes. Apparently when you own a small business your income isnt guaranteed (where are you Obama?) and you can actually make less money, no money at all or even LOSE money......

Do you have any idea what you are talking about or are you saying crap for the sake of saying crap? Last I checked Bush tax code is still in effect. The only thing Obama has done so far is cut taxes for businesses and give a buck or two back to individual through the stimulus and of course you can add you claims of tax increases in ObamaCare, etc.