How Much Tax Are You Willing To Pay?

[JAMESBJOHNSON]

http://www.usatoday.com/news/washington/2009-05-28-debt_N.htm

As of right now the average America spends a little more than half her paycheck for taxes of all kinds. This includes every tax there is.

Every Dollar passes thru about 7 hands before taxes consume it totally.

Obama and the Democrats are talking about a value added tax for everything you buy. Say 15%-25%. It wont replace an income tax, its just a new tax.

But how much of your income do you think is necessary for taxes?

 

[JamesSD]

Interesting question, but impossible to answer with a poll.

For example, what services am I getting for my taxes? Simply national defense? Freeways and bridges? Help for the poor, elderly and mentally handicapped? Education? Health insurance?

Having recently completed my education, I'm significantly moving up in income. I certainly don't mind paying a higher percentage of that "extra" income in taxes compared to what I'm paying now.

A fully functional society could exist on anything from 10-75% tax rate, assuming there was proper "compensation" in services provided.

 

[trysail]

( Fair Use Excerpt )

June 2 (Bloomberg) -- China’s former central bank adviser Yu Yongding will meet Treasury Secretary Timothy Geithner today and tell him the U.S. shouldn’t be complacent about China continuing to buy Treasuries.

“I wish to tell the U.S. government: ‘Don’t be complacent and think there isn’t any alternative for China to buy your bills and bonds’,’’ Yu said in an interview yesterday. “The euro is an alternative. And there are lots of raw materials we can still buy.’’ Yu is scheduled to meet Geithner at the Grand Hyatt Hotel in Beijing today.

China is the biggest foreign holder of U.S. Treasuries with $768 billion at the end of the first quarter. Premier Wen Jiabao in March called for the U.S. “to guarantee the safety of China’s assets” and central bank Governor Zhou Xiaochuan has proposed a new global currency to reduce reliance on the dollar.

China is concerned that the U.S.’s spending and planned record fiscal deficit will eventually lead to inflation and a loss of confidence in the dollar, undermining the value of China’s Treasury holdings, Yu said.

The deficit is projected to reach $1.75 trillion in the year ending Sept. 30 from last year’s $455 billion shortfall, according to the Congressional Budget Office.

The Obama administration aims to reduce the fiscal deficit to “roughly” 3 percent of gross domestic product from a projected 12.9 percent this year, Geithner said in Beijing yesterday.

Strong Dollar

The treasury secretary, on a two-day visit to the Chinese capital, said that China’s investments in U.S. financial assets are very safe, and that the Obama administration is committed to a strong dollar.

The U.S. should take China’s interests into consideration “so that your own interest can be protected,’’ Yu said. “You should not try to inflate away your debt burden.” China could still diversify some of its Treasury holdings into euros or commodities, Yu added.

“Yes, some people say the euro is very weak,’’ Yu said. “Okay, weak is good, we’ll buy very cheap.’’

The best outcome for China would still be to negotiate with the U.S. and reach agreement on its Treasury holdings, Yu said. “The borrower should keep their promises,” he added. “The U.S. should be a responsible country.”

 

[sr71plt]

*Laugh* The Fair Use Doctrine doesn't apply to posts on a porn board, Trysails.

One of these days you're going to get this forum shut down with your violation of copyright.

 

[JAMESBJOHNSON]

The Chinese sense theyre left holding the bag and feel anxious. The recent provocations from Iran and North Korea are a message from China that it can unleash some serious problems for the US if we screw them out of their money.

Fucking the Chinese with hyperinflation may be Obama's goal.

 

[DesertPirate]

Of course having a VAT just blows the hell out of his promise of no new taxes on those making less than $250,000. Oh wait, Cap & Trade already screwed that one up. Guess we need VAT on top of a 40% increase in utility bills.

He's a politician, he lied his ass off to get elected, now he won't even kiss you when he's done with you and he uses Ben Gay for lube! Enjoy it, you voted for him, I didn't.

 

[sr71plt]

It's tough being a Sore Loser when the current presdent is cleaning up the previous president's messes so well, isn't it?

 

[TE999]

We're fast reaching that point in this country where there's more people in the wagon than pulling it. The Baby Boomers alone are gonna have the Treasury circling the drain...not to mention accommodating the flood of illegal immigrants that continue to pour in. All this, plus future generations being saddled with a ginormous debt load being incurred as we speak, equals higher taxes on those who work and own businesses and rampant inflation.

No wonder the Chinese have their knickers in a twist.

 

[Carnevil9]

I'm against all taxes of any type. Taxes are the sweat of my brow, collected against my will, to be used at the discretion of thugs with guns.

I'd replace ALL taxes with fees. User fees. Take public transit, for one tiny example. It is highly subsidized. I can ride the local public transit for two bucks, but the people of my state kick in a large chunk of their tax dollars to keep it afloat, regardless if they ever ride it or not. In my perfect world, riders like me would get charged what it actually costs to give them a ride, maybe $5. And then we could all decide if it is giving us value for our cost or not.

Same with roads: I *love* toll roads. They bill the cost of the roads to the people who actually *use* the roads, not just people who live in the same region. And people who find them worth the cost can use them, others can choose not to. If not enough people use them to keep them solvent, then they go the way of the dodo, as they should.

Bottom line: all taxes suck, and are unfair.....Carney

 

[Handley_Page]

http://www.usatoday.com/news/washington/2009-05-28-debt_N.htm

Obama and the Democrats are talking about a value added tax for everything you buy. Say 15%-25%. It wont replace an income tax, its just a new tax.

We've had Value Added Tax for some years now. Nobody likes it, mostly because of all the other taxes or charges. The introduction of VAT replaced "purchase tax" or "luxury tax" on most things (cars would have dropped in price). The system is a lot simpler.

However, Income Tax is 'banded' so the more you earn over a certain amount, the more tax is due. This can be qualified by several methods best left to an accountant; if you can afford one..

 

[JAMESBJOHNSON]

It's tough being a Sore Loser when the current presdent is cleaning up the previous president's messes so well, isn't it?

SR71PLT

If you do your homework you'll discover that our problems began long ago. Kennedy was maybe the last President who did the right thing with the economy. He inherited a recession from Eisenhower and quickly changed it to prosperity with income tax cuts, the space program, etc. Johnson then saddled America with war, welfare, and income tax increases.

Nixon took America off the gold standard and created affirmative action, OSHA, EPA, EOCC, and all the agencies the Usual Suspects love.

Do your homework. You'll discover that our situation grew from seeds planted over 40 years.

 

[JAMESBJOHNSON]

CARNE

Our local bus service costs 10 MILLION Dollars to operate. It collects 1 MILLION Dollars from riders. Tampa's bus service was studied, and the consultant concluded that the city would save money if it bought all the bus riders cars. The downtown trolley costs 1 MILLION Dollars per block to build.

 

[JAMESBJOHNSON]

We're fast reaching that point in this country where there's more people in the wagon than pulling it. The Baby Boomers alone are gonna have the Treasury circling the drain...not to mention accommodating the flood of illegal immigrants that continue to pour in. All this, plus future generations being saddled with a ginormous debt load being incurred as we speak, equals higher taxes on those who work and own businesses and rampant inflation.

No wonder the Chinese have their knickers in a twist.

I expect GM (Government Motors) to become an albatross around Obama's neck. A 31 year old campaign volunteer heads the Obama GM team. The guy just graduated law school. So GM will build pedal cars and THE GREEN FLINTSTIONE MACHINE, and FORD will kick GMs ass, building cars & trucks Americans want. Look for a huge food fight in Congress as Obama forces the government to buy GM cars & trucks.

 

[DesertPirate]

I expect GM (Government Motors) to become an albatross around Obama's neck. A 31 year old campaign volunteer heads the Obama GM team. The guy just graduated law school. So GM will build pedal cars and THE GREEN FLINTSTIONE MACHINE, and FORD will kick GMs ass, building cars & trucks Americans want. Look for a huge food fight in Congress as Obama forces the government to buy GM cars & trucks.

As far as Government and GM?

Amtrac ... nothing more needs to be said.

 

[JAMESBJOHNSON]

As far as Government and GM?

Amtrac ... nothing more needs to be said.

I was thinking Post Office. The Post Office is 'government owned and independently operated'...like GM.

 

[sr71plt]

SR71PLT

If you do your homework you'll discover that our problems began long ago. Kennedy was maybe the last President who did the right thing with the economy. He inherited a recession from Eisenhower and quickly changed it to prosperity with income tax cuts, the space program, etc. Johnson then saddled America with war, welfare, and income tax increases.

Nixon took America off the gold standard and created affirmative action, OSHA, EPA, EOCC, and all the agencies the Usual Suspects love.

Do your homework. You'll discover that our situation grew from seeds planted over 40 years.

That's all pretty much irrelevant to what the Bush administration did during its tenure. It didn't make things better or even hold the line. It made everything worse.

In a very short time, Obama is already turning eight years of incompetent stewardship around. That's what you Sore Losers can't stand.

 

[trysail]

FORM 1040
(simplified)


1. How much did you make last year? ________

2. Send it in.

 

[JAMESBJOHNSON]

SR71PLT

If you do your homework, and you wont, you'll discover that most Presidents have economic crises. Carter had them, Reagan had them, Clinton had them, etc. Most Presidents get lucky and the perfect storm doesnt come along. But Reagan came close, and so did Clinton. These guys know squat about economics and finances. Dubya got caught, and Obama's hair is on fire, too.

 

[JAMESBJOHNSON]

FORM 1040
(simplified)


1. How much did you make last year? ________

2. Send it in.

TRYSAIL

If these ninnies on this board examined life in the old Soviet Bloc they'd see that the quality of life sucked. Public transportation was usually a tip-cart hitched to the back of a farm tractor, taverns served one brand of beer, everyone wore plastic jelly shoes, and gray veggies were packed in brown liquid inside leaking glass jars.

These clowns believe that people were will bust their asses for nuthin.

 

[sr71plt]

SR71PLT

If you do your homework, and you wont, you'll discover that most Presidents have economic crises. Carter had them, Reagan had them, Clinton had them, etc. Most Presidents get lucky and the perfect storm doesnt come along. But Reagan came close, and so did Clinton. These guys know squat about economics and finances. Dubya got caught, and Obama's hair is on fire, too.

The point is that Bush miserably failed with his--and the current president is digging us out.

I know how hard it is for you Sore Losers Club members to accept that.

 

[sr71plt]

TRYSAIL

If these ninnies on this board examined life in the old Soviet Bloc they'd see that the quality of life sucked. Public transportation was usually a tip-cart hitched to the back of a farm tractor, taverns served one brand of beer, everyone wore plastic jelly shoes, and gray veggies were packed in brown liquid inside leaking glass jars.

These clowns believe that people were will bust their asses for nuthin.

You live in a town like that? I don't. I've lived all over the world. We're doing really well here comparitively.

Walk down to the end of your driveway. Conceive of there being no taxes and you being responsible to start working on getting that driveway connected to anywhere entirely with your own effort and resources--just among all sorts of other public services being paid by your taxes and being performed for you on an economies of scale basis. Now go back inside and climb back into your Laz-Y-Boy and wait for death--because we all know you aren't capable to doing any of this for yourself.

(I'm willing to bet you don't even pay enough taxes to cover your benefits; I'm willing to bet I'm carrying you a good distance with the taxes I pay. )

 

[trysail]

The point is that Bush miserably failed with his--and the current president is digging us out...

ROTFLMFAO

The first rule of "hole digging" is ....?

Dollar Declines as Nations Mull Reserve Currency Alternatives

June 2 (Bloomberg) -- The dollar weakened beyond $1.43 against the euro for the first time in 2009 on bets record U.S. borrowing will undermine the greenback, prompting nations to consider alternatives to the world’s main reserve currency.

The 16-nation euro gained for a fourth day versus the dollar as the Russian government said emerging-market leaders may discuss the idea of a supranational currency.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a_50CuMNqyqU

 

[sr71plt]

ROTFLMFAO

Not much for recognizing you need the long haul to dig yourself out from a deep hole dug by your predecessor, are you?

What have you done today to ease the problem?

Sore Losers all over the place.

 

[trysail]

... What have you done today to ease the problem? ...

I didn't drink the Kool-Aide!

 

[sr71plt]

I didn't drink the Kool-Aide!

That might be a pity. You obviously on are something to insist on these god-awful LOOK AT ME fonts.