Psychology of money and taxation

[Pagan]

Manufacturing isn't completely gone; many (but far from all) of the lost jobs stem from better technology and automation. But the continual borrowing you listed in item (3) can definitely come down. A lot. That's what this thread is all about.

There's a giant sucking sound and the flow is still going overseas. It's redistribution of not wealth but misery on a global scale, we're dropping out standard of living to raise the standard of living overseas.

[Palin Rider]

Demonstrate what? That lowering taxes results in economic growth? It's a time-tested FACT!

Why do you think I suggested eliminating income tax for anyone making less than $200K per year?

They aren't paying down debt, they're spending like there's no tomorrow. Give them more money and all they'll do is spend more.

Not if the people insist on clamping down on the debt ceiling.

[Mr. P]

Why do you think I suggested eliminating income tax for anyone making less than $200K per year?

Cuz yer a fool that doesn't know the remaining 10% of income tax payers can't and won't float this boat alone.

[red states rule]

Cuz yer a fool that doesn't know the remaining 10% of income tax payers can't and won't float this boat alone.

You are correct on that one


This graph shows the percentage of household income paid in federal taxes (payroll, income, etc.) by each income quintile




and this one shows the total of all federal taxes paid by each quintile, compared to income




http://www.powerlineblog.com/archive.../06/026634.php

[Missileman]

Not if the people insist on clamping down on the debt ceiling.

The people insisted that they NOT pass healthcare reform.

[Pagan]

Why do you think I suggested eliminating income tax for anyone making less than $200K per year?

Not if the people insist on clamping down on the debt ceiling.

eliminating income tax only for anyone making less than $200k isn't the answer, we need to eliminate income tax itself and just go with a sales tax. That is the fairest form of tax there is, everyone pays their fair share.

But that's only a bandaid on a sucking chest wound, we must cut spending by at least 50%. Which a good start would be to dissolve ALL retirement for politicians, it was never meant to be a career, it's a Civic Duty. Letting them establish it as a career with retirement has only served to create a ruling class Aristocracy where us Plebs work for them.

[Palin Rider]

Cuz yer a fool that doesn't know the remaining 10% of income tax payers can't and won't float this boat alone.

I

[Palin Rider]

The people insisted that they NOT pass healthcare reform.

Clearly not enough of them.

[Palin Rider]

You are correct on that one


This graph shows the percentage of household income paid in federal taxes (payroll, income, etc.) by each income quintile




and this one shows the total of all federal taxes paid by each quintile, compared to income




http://www.powerlineblog.com/archive.../06/026634.php

As usual, you throw up stats that have nothing to do with the point under discussion.

That the highest quintile pays the most taxes is not proof that they can't afford more.

[Palin Rider]

eliminating income tax only for anyone making less than $200k isn't the answer, we need to eliminate income tax itself and just go with a sales tax. That is the fairest form of tax there is, everyone pays their fair share.

But that's only a bandaid on a sucking chest wound, we must cut spending by at least 50%. Which a good start would be to dissolve ALL retirement for politicians, it was never meant to be a career, it's a Civic Duty. Letting them establish it as a career with retirement has only served to create a ruling class Aristocracy where us Plebs work for them.

There's definitely a ruling class aristocracy, but the politicians aren't it. They're just the direct employees.

But that would be just a drop in the bucket for 50% of $1.6 trillion? Where should the rest of the cuts go?

[Pagan]

There's definitely a ruling class aristocracy, but the politicians aren't it. They're just the direct employees.

In a sense yes, but the Aristocracy in history has always been owned by those behind the curtain.

But that would be just a drop in the bucket for 50% of $1.6 trillion? Where should the rest of the cuts go?

There's lots of room, the first on the hit list would be Obamacare aka National Romneycare. Then just go down the list of the massive pork passed like 'Dubya's TARP, audit all programs like the Department of Education, cut the payroll of Federal Employee's, audit Medicare, Medicaid, etc. etc. etc. etc.

I would also pull a good majority of our troops out of Asia and Europe. I'm tired of paying for their defense. Then there's the zillions we pump out for foreign aid.

Cutting spending by 50% would not be hard at all.

Oh also no Federal contracts to corps who are NOT American Corps or who outsource it offshore.

[Mr. P]

Why do you think I suggested eliminating income tax for anyone making less than $200K per year?

Cuz yer a fool that doesn't know the remaining 10% of income tax payers can't and won't float this boat alone.

I

So, cuz YOU can't defend nor explain your position of saddling a small percentage of the population with ALL the financial burden of the Country in the form of income taxes I'm a Troll?

Yer a MORON! Or an uneducated kid.
It's obvious from your posts you have no clue at all about even basic economics.

[DragonStryk72]

Paying down debt lessens the amount of interest paid, of course, but how exactly does it lessen the interest rates?

Which is bigger, 10% of 500, or 10% of 450? As well, when you're dealing in interest, you can get your rates lowered by showing you, you know, pay your debts. Banks and such are funny like that.

[DragonStryk72]

As usual, you throw up stats that have nothing to do with the point under discussion.

That the highest quintile pays the most taxes is not proof that they can't afford more.

But they won't really pay the tax anyhow. Oh, on paper they will, sure, but do you really think Wal-Mart isn't going to take those things into account when setting prices to mitigate the new tax on their income.

Yeah, thanks, I don't need my goods and services raised. Maybe we could try spending responsibly for a change of pace.

[red states rule]

As usual, you throw up stats that have nothing to do with the point under discussion.

That the highest quintile pays the most taxes is not proof that they can't afford more.

It has everything to do with the discussion. The top producers are paying the huge majority of taxes already

Who decided they can afford to pay more? You as you sit in your ivory tower and look down on them?

Polls show a majority of voters OPPOSE any tax increase on anyone? Voters support spending and tax cuts to get the economy moving forward