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Taxed out of our bottoms?

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posted on Apr, 7 2004 @ 06:26 PM
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Ok, I figured I would revise this thread into something useful since I made a mistake with it earlier. I keep going through it in my head and I can't figure something out.

Why do people believe that taxing the rich people more will hurt our economy. Why do they think it hurts the little guy? I myself barely can pay my rent in this dump that I live in, and yet I still don't want any handouts from the government. I think that taxes should be lowered significantly across the board.

Lets see what you all think.

[Edited on 4/7/2004 by Seapeople]




posted on Apr, 7 2004 @ 06:56 PM
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I'm down with the flat tax.

No exemptions, no IRS, no audits.

It'll save money in the future.



posted on Apr, 7 2004 @ 07:09 PM
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The "Pork" report came out today.(can't remember the full name) It highlighted some of the more ridiculous and questionable things that our politicians have decided that our hard-earned should be spent on.

My favorite was the $50 million on an indoor rain forest in Iowa!

What possible need for an indoor rain forest in Iowa could there be? If it is research, you could just hop a flight down to the Mexican rainforests.

I can think of alot of schools that could use just $50 Million.

Check out MSNBC.com for the report.

If we went for a flat tax, it would probably have to make our politicians actually have to spend with great thought and consideration as opposed to spending like drunken sailors.

[Edited on 7-4-2004 by Facefirst]



posted on Apr, 7 2004 @ 09:58 PM
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I believe in a flat tax across the board. I think that the rich should be taxed the same percentage as the poor and middle class. I mean, if the rich is taxed, say, 10% as well as the poor, that is still significantly more tax $$$ than the poor is contributing.

regs out...



posted on Apr, 7 2004 @ 10:02 PM
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Well, the flat tax idea is a graduated scale like the system now, but lower (because there are no exemptions) and fixed.

Either way would be better than what we have now, which is AFU.



posted on Apr, 7 2004 @ 10:11 PM
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You haven't seen nothing yet, wait till Kerry gets into office.



seekerof



posted on Apr, 7 2004 @ 10:40 PM
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Originally posted by Seekerof
You haven't seen nothing yet, wait till Kerry gets into office.



seekerof


Too true. He, seemingly, will follow through with many of the hot button liberal issues he has been preaching reformation on. Wish people could understand that a flat tax is the only fair thing to have. If we keep taxing the business owners out the arse, they will stop running businesses and stop providing jobs to people, which will put more people on welfare and then their will be more people enslaved to a system and dependent on others.

regs out...



posted on Apr, 7 2004 @ 10:43 PM
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Let me put it this way- tax brackets.

For sake of simplicity, let's say that the tax bracket over 100,000 dollars is 50%. That means you only get to keep half of every dollar you make over 100,000. Which means there is less incentive to want to make that money, which means you don't. This means you invest less, which hurts all corporations, which hurts the economy.



posted on Apr, 7 2004 @ 10:45 PM
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as long as they keep military housing off the W2 taxes don't really affect me. Although I think we pay a ton into social security and it needs to be a lock box because I could make a lot more turning it over in CDs every month. Better than having politicians use it for whatever they feel like.



posted on Apr, 7 2004 @ 11:12 PM
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The sad part about that, JohnSmith, is that many people that pay the money into ss will never see it. I know that I'm not expecting to see it. I'm 23. I've been working my butt off since I was 16. I will likely work till I'm about 60. That will be 46 years of paying money in that I will likely see little or no return on. God knows I would much rather put it into Roth IRA's and set up a real retiremont fund, but I've gotta pay money so people who have already paid their money in, that the Government has already spent, so these people can have their money back, but I will likely see none of that money. Not fair.

regs out...



posted on Apr, 7 2004 @ 11:18 PM
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Originally posted by Esoterica
Let me put it this way- tax brackets.

For sake of simplicity, let's say that the tax bracket over 100,000 dollars is 50%. That means you only get to keep half of every dollar you make over 100,000. Which means there is less incentive to want to make that money, which means you don't. This means you invest less, which hurts all corporations, which hurts the economy.


50%, holy christ dude.

100,000 may seem like a lot of money, but trust me man, it is not.

Now I'm sure you are being sarcastic, but damn.

People think that because you are making 100k that you are on easy street. Let me tell you, 100k doesn't go that far.



posted on Apr, 7 2004 @ 11:21 PM
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I agree. Although I try to think it of money that's supporting my grandmother every month. It would be nice if there was some legal precedence that allowed you to skip the ss payments and set up your own retirement fund with that money.



posted on Apr, 7 2004 @ 11:24 PM
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yeah 100k is a drop in the bucket, hell most families with 2 working parents make that much a year. If you were to put a limit on it I'd make it anything over 1 million a year personal income is 100% taxable after that million.



posted on Apr, 7 2004 @ 11:25 PM
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Originally posted by KrazyJethro


50%, holy christ dude.

100,000 may seem like a lot of money, but trust me man, it is not.

Now I'm sure you are being sarcastic, but damn.

People think that because you are making 100k that you are on easy street. Let me tell you, 100k doesn't go that far.


Tax brackets.

That's 50% past $100,000. You make 100,000, get taxed normally (say 10%). But for every dollar you make past 100,000, 50% is taxed.
So if you make $110,000, your taxes would be (100,000*.1) + (10,000*.5). You worked for an extra 10,000, but you only got to keep 5,000.

For the sake of simplicity.

I just picked a random number. The amount isn't important, it's the effect. The more money you make past a certian point, the less incentive you have to work to make that money.

[Edited on 7-4-2004 by Esoterica]



posted on Apr, 7 2004 @ 11:27 PM
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Originally posted by J0HNSmith
yeah 100k is a drop in the bucket, hell most families with 2 working parents make that much a year. If you were to put a limit on it I'd make it anything over 1 million a year personal income is 100% taxable after that million.

Then why would anybody work to make mroe than a million? It's a moot polciy that would never come into effect. It's like having a policy for voluntary enslavement- nobody in their right mind would sign up.



posted on Apr, 7 2004 @ 11:47 PM
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I think that system would encourage people to do what they do now (the richer anyways).

Find loopholes or ways to hide the money.

I say that it should be across the board.

Who cares if you make more money. That is the purpose of the percentage basis.



posted on Apr, 8 2004 @ 12:24 AM
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Originally posted by KrazyJethro
100,000 may seem like a lot of money, but trust me man, it is not.


My god, what planet are you guys living on? Sounds like the "Live's of the Excessive Middle Class...weekdays at 3PM on CBS" or "How I Was Taught to Spend My $ By Brainwashing, Marketing Tactics"!
Call a financial consultant people for Christ's sake! I barely make 38k a year but still manage to live on one of the most beautiful and most expensive islands (3x5 mi. rock, really) in the world. Gas: $2.60/gal. Rent: $1100/mo. average for a 15'x15' studio apt. and a 2 bedroom house goes for around $1M. etc., etc. Point is...smart shopping and common sense is good for you. Oh...and cutting up the credit cards doesn't hurt either!



posted on Apr, 8 2004 @ 12:31 AM
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dammit, who let the poor people in?


In todays world, you have got to start saving for retirement or you'll be the one living in a box holding the bag.



posted on Apr, 8 2004 @ 12:54 AM
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Originally posted by J0HNSmith
In todays world, you have got to start saving for retirement or you'll be the one living in a box holding the bag.


Well said, JS, well said. If you just spend wisely and stay well informed of your investments for your future...paradise is a step away! Tax Shelter Skelter...the new Beegles album on Pissing Off The IRS Records...coming to George Dubya Stores near you! Featuring such classics like "Saddam don't live here no mo (but we do)" or that Christian Tejas Rocker "In the name of my...errr...our Father" or how bout the new numba one heet with a bullet..."I keel dem tourist evol doers"



posted on Apr, 8 2004 @ 01:06 AM
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Taxes have gotten insane!
I'm sure I get to keep less than half of everything I make.



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