The dutch are the freest people in the world
The "Land of the free" Isn't really free.
The dutch are the freest people in the world
The "Land of the free" Isn't really free.
Finch money is not suposed to be taxxed twice. So I agree with Clint. Also the government is not supossed to accualy be withholding taxes as it is currently done. The government DUPED society into going to the withholding system we have now by telling them they would not have to pay taxes that one year, but they lied. Yeah you didn;t pay taxes that year, but you paid for the taxes for that year the following year. I learned about it in my government class. We were DUPED. And besides Finch. Estate taxes does double tax that money. If your grandmother made that money she already paid taxes on it. So why should it be taxed again when she dies and passes it on to you? You do not pau taxes on money just given to you do you? Or do you make a note of all the money given to you so you can claim it on your taxes? It is just not right. when your talking about keeping it in the family. I could understand if you earned money as wages, but those to me are nto wages. Its like a gift. Any who this is why I think we should go to the national sales tax. We wouldn't have all this BS and the government would have far more money than they have now.
I think we need one government and one currency for the whole world. It would really make things easier.
I guess the government considers inheritance "unearned income".
Why should I pay income taxes to earn what I've earned by age 45 and not if I just inherited it? One I've worked for; the other I do nothing for other than to be born into a wealthier family. It's the same with capital gains, dividends, interest and so on. Income on capital should be subject to taxation just like income on labor is. Even wealth should be taxed because a lot of public spending goes into maintaining it.
As for a national sales tax, one problem is that sales are more volatile than income. CT's tax receipts went through a huge boom & bust cycle when it relied on a higher sales tax with no income tax (pre-1991). It still has a boom whenever those people down towards NYC cash in on their stocks and bonuses, but it's much steadier than it used to be. The other problem with going to a sales tax is that wealthy people spend a lower percentage of their income on taxable things, so a sales tax just shifts even more of the tax burden away from those most able to pay taxes.
Maybe I'd think shielding the wealthy from taxes is good if I thought wealth and income reflect on a person's higher value to society, but no rational person can believe that. I don't know what you make, Josh, but I guarantee your value to society is much greater relative to your income than that of a Wall Street trader. Our economic system is all out of whack, with the guys in suits making much more than the people who actually do everything. There's no plausible way of fixing that, but progressive income tax rates and taxes on estates and capital gains help level the playing field.
And, by the way, people are required to pay taxes on gifts, although there's an amount you can be given tax-free in a year.
Bruce in CT
Madness is something rare in individuals — but in groups, parties, peoples, ages it is the rule. Friedrich Nietzsche
See, IMO, taxes on gifts are ABSURD! That's just STUPID! For me, the estate tax isn't about how much you are inheriting. If you inherit 10K or 100 million, you shouldn't be taxed IMO. This, for me, isn't about shielding the wealthy from taxes, it's about not having an estate tax lol. I say tax the hell out of the wealthy if you want, but make it fair. For me, I don't think taxing inheritance is fair. I remember something where the poor are taxed higher than the wealthy (wish I could remember what that is called) and I think that's BS, too.
I totally agree. The most important people are teachers because they give kids a future. They don't get paid nearly enough.
All this crap about wealth.. jeez I never considered myself "wealthy" I think that the seperation between upper and lower class and social stigmas is pretty bad right now. I say let's all just be friends and help each other out and donate to charity, no matter what we have we can ALL donate a little something.
Bruce you have No clue what your talking about. You obviously have not read the book and just relied on things you hear on TV. Because that is the same spiel everyone claims that the rich would pay a lesser % of their income, but that is UNTRUE.
OK Let me break it down for you with what I recall from the book OK?
First off EVERY head of household would receive a prebate check from the government each month to cover the taxes they would normally pay on good up until the poverty line. A 4 person household would get more than a 2 person since the poverty line is less than that. OK so there that pays for all the taxes a poor family would need to spend to sustain themselves. SO bamm they pay no taxes on food and cloths because the government already gave them money to pay those taxes.
Second unless it was a new good or service then you would not pay national sales tax on it. You buy a used car No tax. You buy a used home NO TAX!! You buy a new shirt your taxed. You buy a new house your taxed. And the prices of goods already have the national sales tax figured in. So if something costs 5 bucks you do not add the 23% to that 5 bucks it is already figured up into the price. So the way I see it is the poor folks already buy used cars and houses so they would not pay taxes on those. No rich person is going to buy a used car unless it is something they want to restore. No rich person is going to shop at goodwill. The fact of the matter is EVERYONE would be better off. I know from my standpoint if I was not being taxed to death on my paycheck I would be sitting rather pretty. I have a used home and all my cars are used. Smart shoppers like most of the NON-wealthy people are would see a decrease in their tax burden. The wealthy ware not going to cut back on their spending, and they are not going to buy used. So in actuality they would pay MORE in taxes than they currently are paying now. Since you know it and I know it Bruce, they do not pay much in taxes now because they shelter a lot of their wealth.
Now IF we were to do the nation sales tax it would eliminate all corporate taxes. This means the US would become the worlds LARGEST tax shelter for businesses and corporations. Remember when Chrysler and Mercedes merged ( I think it was Mercedes) Any who when they merged they moved the company headquarters to Germany because the taxation was less. If we were to have the national sales tax in place they would have setup shop here because it would have been cheaper to do business here. Bringing with it all the jobs needed at the building.
Lastly Everyone things that this would increase the costs of goods. ANOTHER FALLACY. Those corporate taxes I was talking about earlier, Those companies do not pay it anyway!! It gets passed on to the consumer. So in actuality you are paying around a 22% markup on everything you buy to pay those taxes the government charges the companies. If you take away the taxation on the companies they can lower the price roughly 22%. Then you tack on 23% to pay for the national sales tax and your in essence only paying 1% more for goods and services.
i know what your going to say though. The companies are just going to tack on the 23% and not lower the price since they know people are used to paying. Yada yada yada. Well, this is when the free markets everyone loves comes into play. There was an instance a few years ago. I cannot remember the date, but there was a federal tax on all airline tickets purchased, and congress let it laps. Many companies continued to keep the extra built into the tickets and pocketed the extra money. This went on for a few weeks or so until ONE airline dropped that cost off the tickets to gain market share, and sure enough EVERYONE else dropped the extra tax off to compete.
Now I also believe that 23% national sales tax is a little high, and I believe if it was implemented and worked they could lower it to 10% in 5 years. They would still be making a killing IMO. You have to think of all the money lost to the government due to people working under the table, drug dealers, and tourist. Just to name a few. Everyone who buys a good or service would pay the taxes INCLUDING those that normally skip out on paying taxes. All the illegal immigrants over here not paying taxes but sucking up the resources would pay when they bought something. The tourists would pay taxes when they came over to our country. The people working under the table as construction or farm hands or selling drugs or flea market things would pay taxes when they bought something NEW. Remember the tax would only be on NEW things or services. The government would see a HUGE increase in revenue, and everyone would have less of a tax burden. I know I would.
And Bruce I am around a 50K a year household between my wife and I know. I am middle class I would say. My house is only a 70K fixer upper. The national sales tax would help me a lot. I don't see how it would place more of a burden on the poor when everyone got a prebate check. Even though we are a middle income family we still shop at goodwill and other places. All my cars are used and my house was used. So if I know it will help me then I KNOW it will help people who make less than me. And at the same time the rich would be contributing more and more to the government because they are the ones who have to buy new and the latest and greatest.
It would even help my friend who neglects his house repairs to buy his son a PSP and himself an Xbox 360. He would have extra money to repair his house and still play his games. Since the prices of things should remain about the same, he would be increasing his bring home money.
People really should read the book of the proposed national sales tax and find out all the details before you go spewing back all the stuff said on TV about it. The taxes really only come into affect when you start living above and beyond your means in the first place.
[QUOTE=Bugweed;809665]Quogue, If they can force you to wear a seatbelt, disguising in the form of "It'll save lives!", and take away your choice to live through an accident , or die in one (no seatbelt), then freedom of choice no longer exists. QUOTE]
Heck, what about freedom to get decent medical care. I am sure you all saw the story about the cancer patient whose doctors took him to court when he made the decision to lose traditional medicine and take a holistic approach to healing! Amazing!
I haven't heard anything else about this case (I am really not a TV person, news or otherwise so I tend to miss a lot of information) to see if the holistic approach was working... however... we would never know. They would never let people believe there may be a way they could actually survive by doing anything the natural way.
This is my area of extreme emotion hehehe
The Yarn Nerd