Whats more annoying than taxes are shills who post tin foil hats in forum posts. For real, do you think your the first person to do this in history? Give me a break.
More taxes coming? You betcha...
- Thread starter megatabbers
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Whats more annoying than taxes are shills who post tin foil hats in forum posts. For real, do you think your the first person to do this in history? Give me a break.
The whole situation today reminds me of why the pilgrims originally left England:
"No taxation without representation."
If you're a small business owner, self-employed or an everyday working stiff the fact of the matter is that you have no representation in Washington. If you don't belong to a public union you're basically fucked!
A lot of folks don't realize it but most cops, at least here in LA where I live, bank over $100K a year. They get to retire after 25 years. They retire with a 90% pension for life + they and their families get free healthcare for life. The average law enforcement officer contributes about $150k to their retirement package and gets back in return over $3million in the form of a pension and health care benefits. Teachers aren't far behind either and that's basically where a huge chunk of OUR money is going. Too many peeps living the government lifestyle now and not enough tax payers footing the bill anymore and that's why the gov. needs more from each and every single one of us.
The politicians reward the unions because the unions bankroll their campaigns... Like I said if you don't belong to a public employee union and if you're not big business then your ass is basically an atm machine.:moon:
Public employee unions are enemy number 1 right now if you ask me...
"No taxation without representation."
If you're a small business owner, self-employed or an everyday working stiff the fact of the matter is that you have no representation in Washington. If you don't belong to a public union you're basically fucked!
A lot of folks don't realize it but most cops, at least here in LA where I live, bank over $100K a year. They get to retire after 25 years. They retire with a 90% pension for life + they and their families get free healthcare for life. The average law enforcement officer contributes about $150k to their retirement package and gets back in return over $3million in the form of a pension and health care benefits. Teachers aren't far behind either and that's basically where a huge chunk of OUR money is going. Too many peeps living the government lifestyle now and not enough tax payers footing the bill anymore and that's why the gov. needs more from each and every single one of us.
The politicians reward the unions because the unions bankroll their campaigns... Like I said if you don't belong to a public employee union and if you're not big business then your ass is basically an atm machine.:moon:
Public employee unions are enemy number 1 right now if you ask me...
'School cuts' bring up over 20,000 results right now on google news, meanwhile Obama asked for billions in additional military budget and was met with little resistance.
Education and police mostly come from the local levels, but since you mentioned Washington, here is how they spend income taxes :
Military 42.2%
Health Care 22.1%
Interest on Debt 10.2%
Anti-Poverty, Foster Care, Adoption Services 8.7%
Education & Training 4.4%
Federal Government & Law Enforcement 3.9%
Housing & Community Development 3.3%
Science, Environment, Energy 2.6%
Agriculture, Commerce & Transportation 1.5%
International Affairs & Assistance 1%
The whole thing is just so frustrating because the reality is that I don't think anything is ever going to change (for the better).
Incorrect. Study all hyperinflations in history and it was a currency event NOT an economic event. Business conditions were HORRIBLE when their currency went to shit.
Think about what hyperinflation really us. More than 50% a YEAR I believe it is. The *confidence* in the currency goes to shit and thus the currencies trading against it go UP.
The USA has plenty of things that are lining up to cause hyperinflation. Debt, Debt, OTC Derivatives, and money printing (because of pussy politicians).
Look at gold for the last 10 years (IN ALL CURRENCIES) and tell me there is no inflation!
Very High!
Sure is serious, kind of strange isn't it? It's a shock to many people less then 30 how much taxes were before the 80's.
America went through some of the most prosperous times with 90% marginal tax rates on top earners - and if you read any of the big business moguls bios they never once thought they shouldn't try so hard to make more because of the huge tax rate. In other words, it didn't destroy America.
Also people love to point out that many people don't even pay taxes while, OMG the top 1% pay almost 35% of the taxes and taxes are unfair to the rich. I've never seen anyone follow that up with the statistic that the top 1% also controls almost 43% of the total wealth. With that statistic added seems much more reasonable to me.
It's all just what people are used to. If the tax rate never dropped below 45% to 28% (which was never sustainable in our country based on services people expect) people wouldn't think 45% is so high. But now that they have to come back up it's scream bloody murder time and claim that a tax as high as 45% would insure the destruction of the country.
I certainly don't want my tax rate bumped from 35 to 45 - but me not liking it doesn't mean it's going to destroy the country....
@Moxie
By "Washington" I meant all levels of government. Obviously most of my post is directed at the local level but if you're choosing to defend public employee unions please say hi to your significant other who is either a teacher or a cop:smilie_weihn_winki:
And with regards to Washington... yes military spending and healthcare is yet another egregious waste of tax payer dollars...
By "Washington" I meant all levels of government. Obviously most of my post is directed at the local level but if you're choosing to defend public employee unions please say hi to your significant other who is either a teacher or a cop:smilie_weihn_winki:
And with regards to Washington... yes military spending and healthcare is yet another egregious waste of tax payer dollars...
LOLz @ sheep bleating that anyone who does not wish to turn over the bulk of their hard-earned wealth to a corrupt oligarchy can GTFO of their own country, as though it is your patriotic duty to let yourself be assraped.
I'm an oligarch - go ahead and just email me your bank account and PIN, we can cut out the middleman and I'll email you a coupon for a jar of Vaseline and directions to your nearest gaybar.
Yay! What a great system!
I'm an oligarch - go ahead and just email me your bank account and PIN, we can cut out the middleman and I'll email you a coupon for a jar of Vaseline and directions to your nearest gaybar.
Yay! What a great system!
Amen Nikko.
I find this hard to believe. At 90% there is no incentive to do anything because you would actually keep more money by making less. Or at least you could put the same amount of money in your pocket by working and making half as much (due to being in a much lower bracket). Are you suggesting that all of the successful business people of the time just kept on producing and busting their asses for the fun of it, even though they only got to keep 10% of their earnings? Makes no sense to me ...
I find this hard to believe. At 90% there is no incentive to do anything because you would actually keep more money by making less. Or at least you could put the same amount of money in your pocket by working and making half as much (due to being in a much lower bracket). Are you suggesting that all of the successful business people of the time just kept on producing and busting their asses for the fun of it, even though they only got to keep 10% of their earnings? Makes no sense to me ...
Nobody paid the 90% back then. There were TONS of loopholes. Only the idiots paid that much.
You are exactly correct is saying a system where if you make more you get to take home less would make no sense. But people did think of that and that's why we have a MARGINAL tax system. I don't really want to explain it here when others have written more clear explanations so just Google it. But it takes care of the exact problems you have outlined here.
You're right, but discussing tax loop holes people used 55 years ago is pretty boring. I think most people would agree taxes were higher back then and certainly the evidence supports it. That's all I was trying to point out, tax rates have been higher in the past.
you would not put the same amount of money in your pocked by making half as much due to being in a lower bracket because the brackets are progressive on only income earned above the last bracket.
I swear to god, when people tell me they should make less so they don't jump into a higher bracket and overall then have less money I want to punch them in the face. That's not how it works.
Way to go, you're as dumb as Joe the Plumber and probably half of Americans.
Understand how our tax system works, 90% is the marginal rate, not the effective rate:
Tax rate - Wikipedia, the free encyclopedia
If you're too dumb or opinionated to read the Wikipedia entry, I'll summarize:
Marginal rate affects the last dollar you earned. If there were two tax brackets, 25% on the first $500k of income and 50% thereafter, you would
be taxed 125k on the first half of your $1mm income and $500k on the second half, leading to an effective tax rate of 62.5%. You don't make "less" when you get to the higher bracket.
It's ignorance like this that makes me wish we had an intelligence test before people could vote. Teabaggers run around screaming all day about taxes and healthcare and clearly don't begin to understand even basic issues surrounding them. If you're bad at math, science and economics, you're not smart enough to decide how our country should be run.
Educate yourselves, dumbasses.
39% tax brackets, 3,000-page tax code that not even guys with a Masters of Taxation degree (my CPA has one of those) can comprehend.
Trillions in taxpayer dollars disappearing straight into oligarch bankster pockets under the label 'bailout'.
This is what you call a "marginal tax system".
Dude, just email me your PIN and bend over.
I think a flat tax would work just fine. But then again, that would be too logical and too simple for everyone.
That was the rate. How much tax did they actually pay? Everyone knows the people at the top are most able to avoid paying taxes. So find some stats on actual receipts from that bracket during that period if you want to make the point.
In the past, the top 0.000001% controlled 99% of the wealth. Historical perspective please. If you can't see that people (everyone, including the poor) are wealthier today than they were 50 years ago, then ....
As taxes rise, receipts fall. Taxes reduce entrepreneurship and productivity. They are a disincentive to produce.
Taxes don't have to increase to deal with debt. Spending has to fall below current receipts to achieve a surplus.
Your rationale is like, "We're losing money, so instead of cutting expenses, we'll raise prices." or "I'm getting fat, so instead of eating less, I will buy bigger pants."
I really hope you have found some way to be successful at business, because your approach to budgeting is very bizarre.