14 May 10
Originally posted by KazetNagorraAnd what is that solution? Communism?
I believe the political leadership should ensure unemployment does not get signficantly above 5% or so. This is actually a lot easier than you think, whodey, but you may not like the solution. And my guess is Obama does not like it much either.
14 May 10
Originally posted by whodeyOh please...
And what is that solution? Communism?
Here's what you do. The upper middle class pay a minute amount of taxes right now. Fix this by introducing a federal income tax of say 50% starting from $80k, still well below many European countries, and abolish mortgage deductions (gradually). Pull out of Iraq and Afghanistan and cut defense spending by 200 billion. This should give enough financial room to hire low- to middle-paid service jobs. Teachers, teacher assistants, nurses, cops, street cleaners - there is plenty of useful stuff to do. There kind of jobs are cheap and will easily offset job losses due to higher income taxes, because jobs associated with luxury goods tend to have higher production costs, and, more importantly, high-end luxury goods tend to be imported (and this consumption will drop significantly, also reducing the trade deficit).
14 May 10
Originally posted by KazetNagorraAre you for real?? You think $80K is upper middle class?? What a joke!! If you can't comprehend that the problem lies with the spending policies of the government, and the taxation problem is due to an antiquated IRS set of limits designed 40 years ago when 100K was a huge amount of income. Today, it is a drop in the bucket. The middle class has been bearing the brunt of the tax burden for YEARS!! The lower class pays little of no tax and gets tons of subsidies. The very wealthy pay a load of tax as well, but have the means to survive the burden.
Oh please...
Here's what you do. The upper middle class pay a minute amount of taxes right now. Fix this by introducing a federal income tax of say 50% starting from $80k, still well below many European countries, and abolish mortgage deductions (gradually). Pull out of Iraq and Afghanistan and cut defense spending by 200 billion. This should give en ...[text shortened]... to be imported (and this consumption will drop significantly, also reducing the trade deficit).
If you want to solve this crap, the solution is easy as pie, but the politicians don't want it because it threatens their jobs. Abolish the IRS and all of its waste. Establish a flat tax where EVERY class pays the SAME percentage of tax. Cut out all subsidies. Cut out all perks. Get rid of the fat. Place term limitations on those fatass politicians at all levels so they can't make a career off of the public like that idiot Sheila Jackson Lee and a list too long to name now.
Take away all of the perks of politicians. Place them on the same Social Security system we are on and you will see radical reform. Make the penalty for accepting any bribe or kickback as a politician the automatic death penalty and you will see the collusion, pork belly spending, and absolute wasteful spending come to an end.
No one wants to take a simple approach like this because it makes sense and it takes the power and wealth away from the politicians and places it back into the hands of the people where it belongs in the first place.
14 May 10
Originally posted by shortcircuitAbolish the IRS and no one will pay taxes.
Are you for real?? You think $80K is upper middle class?? What a joke!! If you can't comprehend that the problem lies with the spending policies of the government, and the taxation problem is due to an antiquated IRS set of limits designed 40 years ago when 100K was a huge amount of income. Today, it is a drop in the bucket. The middle class has been be ...[text shortened]... iticians and places it back into the hands of the people where it belongs in the first place.
14 May 10
2 edits
Originally posted by KazetNagorraWhy does the IRS take on such a hated role in America. We have a taxation office over here. Your tax gets deducted from your salary or wages. If you're in business you estimate how much you will profit or loss and pay tax accordingly. We pay a goods and services tax of 10% on all (wait for it) goods and services. End of story.
Abolish the IRS and no one will pay taxes.
Btw this gives us free education to secondary level/subsidized tertiary education where you pay 1/3 of tuition fees and you can defer payments interest free to the tax system which you repay at no more than about 3% of outstanding balance /yr when your income crosses a certain threshold, free health-care/hospitalization, subsidized medications, family benefits to help raise kids/healthy rebates (about 30% )to take out private health insurances if we want, first home buyers grant, cash lump sums when you have kids (about 5k) the list goes on.....Do you wonder why we don't have a problem paying tax??
14 May 10
Originally posted by kmax87It appears that the more tax people pay, the less they seem to be worried about paying taxes.
Why does the IRS take on such a hated role in America. We have a taxation office over here. Your tax gets deducted from your salary or wages. If you're in business you estimate how much you will profit or loss and pay tax accordingly. We pay a goods and services tax of 10% on all (wait for it) goods and services. End of story.
Btw this gives us free educa ...[text shortened]... ve kids (about 5k) the list goes on.....Do you wonder why we don't have a problem paying tax??
14 May 10
2 edits
Originally posted by KazetNagorraA 50% tax on the middle class would be political suicide. The populace may have laid down for this sort of taxation Europe but the US is not Europe. They will aviod this until it is no longer an option. Speaking of Europe, I think our politicians will turn to Europe because they recognize that they are the pro's regarding redistribution. I think they will probably introduce a VAT which is easier to hide from the populace. Basically, you just introduce a VAT at a small percentage and gradually increase it over time and the sky is the limit!!
Oh please...
Here's what you do. The upper middle class pay a minute amount of taxes right now. Fix this by introducing a federal income tax of say 50% starting from $80k, still well below many European countries, and abolish mortgage deductions (gradually). Pull out of Iraq and Afghanistan and cut defense spending by 200 billion. This should give en ...[text shortened]... to be imported (and this consumption will drop significantly, also reducing the trade deficit).
As for Iraq and Afghanistan, why are we there in the first place? It seems to me that the Iraqi situation was born of the need to protect foriegn oil, so if the US pulls out what is the assurance that they will not have to go back to secure it? It seems to me that this will happen again if the US does not seek to be energy independent. Of course, it is a hard sell to both Democrat and Republicans who are both in the pockets of big oil. To do so, simply begin to convert cars to natrual gas and begin constructing nuclear power plants. Of course, the problem with nuclear power is two fold. One problem is that once you get them up and going they would provide a relatively cheap energy source. So where will all the money be made? In addition, there are no green house gases released so government cannot impose cap and trade taxes. Again, where is the money to be made? After all, what the government needs is more revenue, right? In fact, they simply never have enough so lets just spend, spend, spend until the world joins Greece into the abyss of insolvency.
Not to worry though, they recently passed an ordinance to legalize gambling where I live. I think that should give the crack spending addicts in government a good fix as revenue begins to flow into Big Brother. After that has worn off, however, I wonder what they will turn to next. I know, how about state run crack houses and brothels. Brilliant!!
14 May 10
1 edit
Originally posted by kmax87No one seems to understand the plight in the US. What you are dealing with is the most fiscally inept and corrupt governments in world history. After all, who else has a $13 trillion debt? Our law makers have no problem with increasing taxation simply because most of them appear not to even pay their taxes.
Why does the IRS take on such a hated role in America. We have a taxation office over here. Your tax gets deducted from your salary or wages. If you're in business you estimate how much you will profit or loss and pay tax accordingly. We pay a goods and services tax of 10% on all (wait for it) goods and services. End of story.
Btw this gives us free educa ...[text shortened]... ve kids (about 5k) the list goes on.....Do you wonder why we don't have a problem paying tax??
14 May 10
1 edit
Originally posted by FMFYes, health insurance would be great in hard times, unfortuneatly not much of it actually kicks in for 3.5 more years? Has anyone seen anything that could be called a "benefit" out of that massive bill yet? Too ealy to tell?
How many more jobs would have been lost had there been no stimulus? What would the unemployment rate have been without it? 12%, 14% more? Your contention that the economic recovery would have been faster if the government had not taken the steps it took is interetsing. Of course, imperfect as it was, the health care reform was a considerable political triumph fo ...[text shortened]... things as important as access to health care. This is even more the case in hard economic times.
My own personal opinion, people are scared to death of the US debt, and are pinching their own pockets getting ready for even worse times. They just aren't spending money.