Taxation in America

[gipper]

I think, a fair society is where everybody pitches in equally

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

 

[kyzr]

I think, a fair society is where everybody pitches in equally

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

 

[gipper]

I think, a fair society is where everybody pitches in equally

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

 

[SmokeALib]

I think, a fair society is where everybody pitches in equally

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

You're not us. You're them. Seek help.

 

[colfax_m]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

kyzr, you're off base son. most everyone's 401k is subject to capital gains. Everyone's. so if you raise the capital gains, you raise it on the middle class. son, I wish all of you would shut the fk up. you have no idea what you're talking about. shut up!

401k disbursements are subject to income tax, not capital gains.

 

[gipper]

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

You're not us. You're them. Seek help.

LOL. Yes I’m a traitor in mind of the deluded con, who can’t see the transparent fraud being committed by his government. Like a soldier he marches to tune of the State...always.

 

[kyzr]

I think, a fair society is where everybody pitches in equally

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

9/11 was a sucker punch that, if you read the "9/11 Commission Report", was cause by "stove piping agencies" setup by Jamie Gorelick's wall, unable to share information, and the FBI being prevented from examining Moussoui's laptop, and the FBI knowing that the "system was blinking red" but was unable to figure out why Saudis learning to fly jets didn't want to learn how to land.
Ignorance isn't always bliss, sometimes its a disaster in-progress.
How many major terror attacks have we had since 2011? The system is now working, so keep it working.

 

[BrokeLoser]

The Federal Insurance Contributions Act, or FICA, requires employers to withhold certain payroll taxes for the benefit of retirees, people with disabilities and children.

FICA taxes include the Social Security tax and the Medicare tax. Employers and employees each pay half the tax withheld. But if your wages exceed a set amount, the tax rates on your income can vary.

And if you’re self-employed, you’re responsible for paying into both Social Security and Medicare. You’ll pay the full amount on your own as self-employment tax.

What Are FICA Taxes? | Credit Karma Tax®

Apparently you’re unaware that FICA and consumption taxes hit the poor hard, while not affecting the rich at all. Please think.

What consumption taxes do you speak of, state taxes? Ours is 8 cents on the dollar for state and county. I don't know of anybody going homeless over them. If you spend a hundred bucks, that's only eight dollars. You can make that working at McDonald's for one hour. Is eight dollars more important to a poor person than a rich? I'm sure it is. But so is a thousand dollars, ten thousand dollars or twenty thousand dollars.

Taxation should not be about who is hurt more, taxation should be about a community pitching in for the services provided equally to all of us.

Look up consumption taxes. They clearly hit the poor much more than the rich.

Taxation should be eliminated, but I’m dreaming. Since we can’t eliminate them, the taxes shouldn’t unfairly hit the poor more than the rich.

Why are you scared to answer this question?
“So you’re thinking Bernie may win because some people have more and earn more than others? Think about that for a minute.
Are you thinking poor people should be exempt from paying “payroll taxes” and “consumption taxes”?”

Clearly I think the poor should pay a lot less in taxes. They shouldn’t pay the same percentage as the rich. Is this a difficult concept for you?

So they’re exempt from income taxes and you want them exempt from payroll and consumption taxes as well?
I’m good with that if we can prohibit them from using our roadways, public services, Medicare and Social Security...etc etc.

 

[LeftofLeft]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

How are the poor getting poorer on the US? Would you rather be poor in the US or Venezuela, Mexico, Cuba, or El Salvador?

 

[gipper]

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

9/11 was a sucker punch that, if you read the "9/11 Commission Report", was cause by "stove piping agencies" setup by Jamie Gorelick's wall, unable to share information, and the FBI being prevented from examining Moussoui's laptop, and the FBI knowing that the "system was blinking red" but was unable to figure out why Saudis learning to fly jets didn't want to learn how to land.
Ignorance isn't always bliss, sometimes its a disaster in-progress.
How many major terror attacks have we had since 2011? The system is now working, so keep it working.

The 9/11 Commission Report was a fraud, like just about everything this government does.

To think this massive bureaucracy is protecting us, is absurd. They are doing the opposite of protecting.

 

[Brain357]

I think, a fair society is where everybody pitches in equally

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

When they have protected us it’s not such big news, just when they fail.

 

[kyzr]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

How are the poor getting poorer on the US? Would you rather be poor in the US or Venezuela, Mexico, Cuba, or El Salvador?

The poor are getting poorer because wages aren't keeping up with costs, except for the wealthy. If things don't change we will end up like Venezuela, El Salvador or Mexico with a few hundred "oligarchs" and the rest in abject poverty. Look at the trends:

 

[kyzr]

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

9/11 was a sucker punch that, if you read the "9/11 Commission Report", was cause by "stove piping agencies" setup by Jamie Gorelick's wall, unable to share information, and the FBI being prevented from examining Moussoui's laptop, and the FBI knowing that the "system was blinking red" but was unable to figure out why Saudis learning to fly jets didn't want to learn how to land.
Ignorance isn't always bliss, sometimes its a disaster in-progress.
How many major terror attacks have we had since 2011? The system is now working, so keep it working.

The 9/11 Commission Report was a fraud, like just about everything this government does.

To think this massive bureaucracy is protecting us, is absurd. They are doing the opposite of protecting.

You make claims without proof. So put up something or I'm calling Bullshit.
I'm sure the 9/11 Commission was a fraud too, Jamie Gorelick was one of the co-authors.
But how can you dispute that since 2011 the Feds have done a great job protecting us from terror attacks?

 

[BrokeLoser]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

How are the poor getting poorer on the US? Would you rather be poor in the US or Venezuela, Mexico, Cuba, or El Salvador?

The poor are getting poorer because wages aren't keeping up with costs, except for the wealthy. If things don't change we will end up like Venezuela, El Salvador or Mexico with a few hundred "oligarchs" and the rest in abject poverty. Look at the trends:
View attachment 308931

The is super simple shit...there is no complexities here....the presence of 100 million wetbacks have DESTROYED wages from the bottom feeder class to the middle class.

 

[Ray From Cleveland]

It all boils down to the tremendously idiosyncratic definition of the word, "Fairness."

It would be manifestly fair to impose a per capita tax on all Americans; everyone should pay the same dollar amount, since we are all citizens or permanent residents and all benefit from that reality. If we all paid $4,500, that would pretty much balance the budget.

But it would also be fair if we all paid the same percentage of our taxable income. 15% would work nicely (in addition to the "payroll taxes"), and as an added advantage, The Rich would pay much more in FIT than The Poor.

The least fair of all would be to exempt half the population from paying any income taxes at all, then tax the earners according to a GRADUATED percentage, with the highest earners paying the highest percentage(!). Talk about Highway Robbery.

Bernie Sanders appeals to those who pay the least amount in Federal Income Taxes, but want the greatest amount of free goodies from the Federal government (free healthcare, free college tuition, etc.). He is LITERALLY attempting to BUY THEIR VOTES with taxpayer money.

It is the height of irony that this old Crank rails about how EVIL it is for Mike Bloomberg to be buying votes WITH HIS OWN MONEY, while Bernie seeks to buy votes WITH YOUR MONEY!

You couldn't make it up.

Some people don't like to be poor peons getting screwed by the financial system rigged to keep the rich getting richer and the poor getting poorer. The rich buy politicians to write loop-holes into tax laws to protect their wealth. Capital gains should be taxed as normal income. The income cap should be raised for SS. A VAT should be added to balance the budget. If the GOP doesn't address the budget deficit and entitlements the democrats will win and the US will devolve into something unrecognizable.
View attachment 308721

How are the poor getting poorer on the US? Would you rather be poor in the US or Venezuela, Mexico, Cuba, or El Salvador?

There are not that many who know what true poverty is in the United States. Our homeless people have cell phones in this country. Our poor people who have homes also have smart phones and big screen televisions. Outside with those that have physical disabilities, or not enough intelligence to have a good job, most poverty is self-inflicted.

People who I delivered to used to ask me all the time if I knew anybody looking for a job. They find people willing to apply, but none that can pass a drug test. Now that younger people live with their parents until the age of 35, they just get a low wage job so they can sit in the basement and smoke pot endlessly. Lower wage jobs seldom drug test.

 

[Ray From Cleveland]

The only way to do that is to increase taxes, lower spending, or both. The problem is, both would have a negative effect on our economy.

It's like Walter E Williams once asked: What if I decided to run for Congress, and my platform would be, I will bring no money back to our state, how many of you would actually vote for me?

Our social programs are exemplified by my Raccoon theory. You see a raccoon digging around in your garbage, so in sympathy, you go inside the house and get that quarter ham on a bone you were going to throw out at the end of the week anyhow. The animal eats in delight. Now give it about 20 seconds, and try to take that ham bone back and see what happens to you.

Democrats are well aware of my raccoon theory. That's why they want to keep starting more social programs. They know once instituted, it will be impossible for Democrats or Republicans to remove them--at least not without getting your hand all bit up.

The Debt Bomb would also have a negative effect on the economy. Pick your poison, the Debt Bomb, or higher taxes and less spending.

Please list the "social programs" your raccoons could live without, Welfare, Medicare, Food Stamps (SNAP), farm subsidies, foreign aid?
See post #23 for how I would cut spending and raise taxes to start paying down the Debt. The economy would be fine.

The problem with these social programs is once they are started, they are virtually impossible to remove. They are killing our deficits and debt. What's the Democrat solution to this problem? Create more social programs and increase taxes.

The problem is that there is nowhere to cut unless you piss off the voters. Nobody wants to give up their goodies they've been accustomed to all of their lives. Cut military spending? That would make us more vulnerable to our enemies. China already has a supersonic rocket that we aren't close to creating yet.

Social programs like what? Welfare? Medicaid? Foreign Aid? SNAP (food stamps), Farm subsidies? Please see my post #23 where I put up real numbers. They can be adjusted for the SS & Medicare "fixes" like increasing the salary cap, or gradually raising the retirement age.

As for the latest "arms race", who gave China the cash to develop their military? Who is giving Russia cash for gas to fund their military?
No one is close to the US military. US military spending might even trigger WW3.
An ‘Arms Race in Speed’: Hypersonic Weapons and the Changing Calculus of Battle | Arms Control Association
US successfully flies its newest hypersonic missile on B-52 bomber, Lockheed-Martin says

Let me ask you about your list in post 23. What politician could run on that and get elected? The answer is, nobody. Not one politician could run on your plan and have a chance at coming close to a win. As much as DumBama was loved, or Bill Clinton, if they could get back into politics, perhaps a seat in Congress, they would be voted against in a landslide.

Totally agree. That's why I said that we'd need a "Grace Commission II" to map out the path to fiscal sanity. Then we'd need a bi-partisan Bill to implement the changes. There are items that BOTH parties hate. But if we don't want to get buried in Debt we need to get serious about the Budget Deficit before its too late.

Your plan to avoid the financial system collapse due to the $30T...$40T....$50T in DEBT?

My plan would be to institute a consumption tax until the deficit is eliminated, then work on paying off the debt. Why don't politicians address this? Because most people don't care about the debt. Politicians stay in power by giving us things, and the disaster we are heading for will not be their concern. It will be somebody else's problem.

If people cared bout the deficit and debt, Democrats would lose every election in a landslide. What is their promise? More taxing the wealthy and more spending on social programs. That means more problems down the road. But people who vote Democrats simply don't care. More free stuff for me???? You bet I'm going to vote for you, and politicians know this.

 

[Ray From Cleveland]

The Federal Insurance Contributions Act, or FICA, requires employers to withhold certain payroll taxes for the benefit of retirees, people with disabilities and children.

FICA taxes include the Social Security tax and the Medicare tax. Employers and employees each pay half the tax withheld. But if your wages exceed a set amount, the tax rates on your income can vary.

And if you’re self-employed, you’re responsible for paying into both Social Security and Medicare. You’ll pay the full amount on your own as self-employment tax.

What Are FICA Taxes? | Credit Karma Tax®

Apparently you’re unaware that FICA and consumption taxes hit the poor hard, while not affecting the rich at all. Please think.

What consumption taxes do you speak of, state taxes? Ours is 8 cents on the dollar for state and county. I don't know of anybody going homeless over them. If you spend a hundred bucks, that's only eight dollars. You can make that working at McDonald's for one hour. Is eight dollars more important to a poor person than a rich? I'm sure it is. But so is a thousand dollars, ten thousand dollars or twenty thousand dollars.

Taxation should not be about who is hurt more, taxation should be about a community pitching in for the services provided equally to all of us.

Look up consumption taxes. They clearly hit the poor much more than the rich.

Taxation should be eliminated, but I’m dreaming. Since we can’t eliminate them, the taxes shouldn’t unfairly hit the poor more than the rich.

I'm sorry, but that's just the nature of different income levels. Let me ask:

Should the well-to-do pay more for a big mac combo than the poor? Should they get cheaper lawn care prices? Should they get groceries at a lower cost and foot the difference to the wealthy? Should they get a huge discount on a new automobile? How about utilities for their home? Gasoline?

The point I'm making is, that the wealthy will always have an easier go of it be it buying a new home, new car, a swimming pool, college education for their children. The US Constitution guarantees the right to pursue happiness, not a guarantee you will have it. But when one does find happiness (on a financial level in this instance) should government take that happiness and give it to others?

Many people have more than you and I, but we have more than others. It's not fair to take from those we consider having more, no more than it's right for those below us to take from us. As we evolved as a country, we developed a social structure where government provides us with things not listed in the Constitution. If that's not bad enough, footing the bill to only certain Americans instead of us all pitching in to this society is even worse, because some believe that those who did better have to pitch in more.

I think, a fair society is where everybody pitches in equally, and your finances not be the arbiter of how much we all pitch in. We all live here, we all get the same amenities, we all get the same protections, so it's only fair we all pay for it equally, and not based on how much it hurts to do so.

Dumb.

You believe the poor should pay the same percentage as the rich. So, you’re fine with the current tax system. I’m not.

What I think is everybody should be pitching in something, and I'm not talking about for programs they are going to use after retirement, I'm talking income taxes which fund our federal government. It doesn't have to be the same as the wealthy, or close to it, but something for crying out loud.

 

[gipper]

Apparently you’re unaware that FICA and consumption taxes hit the poor hard, while not affecting the rich at all. Please think.

What consumption taxes do you speak of, state taxes? Ours is 8 cents on the dollar for state and county. I don't know of anybody going homeless over them. If you spend a hundred bucks, that's only eight dollars. You can make that working at McDonald's for one hour. Is eight dollars more important to a poor person than a rich? I'm sure it is. But so is a thousand dollars, ten thousand dollars or twenty thousand dollars.

Taxation should not be about who is hurt more, taxation should be about a community pitching in for the services provided equally to all of us.

Look up consumption taxes. They clearly hit the poor much more than the rich.

Taxation should be eliminated, but I’m dreaming. Since we can’t eliminate them, the taxes shouldn’t unfairly hit the poor more than the rich.

I'm sorry, but that's just the nature of different income levels. Let me ask:

Should the well-to-do pay more for a big mac combo than the poor? Should they get cheaper lawn care prices? Should they get groceries at a lower cost and foot the difference to the wealthy? Should they get a huge discount on a new automobile? How about utilities for their home? Gasoline?

The point I'm making is, that the wealthy will always have an easier go of it be it buying a new home, new car, a swimming pool, college education for their children. The US Constitution guarantees the right to pursue happiness, not a guarantee you will have it. But when one does find happiness (on a financial level in this instance) should government take that happiness and give it to others?

Many people have more than you and I, but we have more than others. It's not fair to take from those we consider having more, no more than it's right for those below us to take from us. As we evolved as a country, we developed a social structure where government provides us with things not listed in the Constitution. If that's not bad enough, footing the bill to only certain Americans instead of us all pitching in to this society is even worse, because some believe that those who did better have to pitch in more.

I think, a fair society is where everybody pitches in equally, and your finances not be the arbiter of how much we all pitch in. We all live here, we all get the same amenities, we all get the same protections, so it's only fair we all pay for it equally, and not based on how much it hurts to do so.

Dumb.

You believe the poor should pay the same percentage as the rich. So, you’re fine with the current tax system. I’m not.

What I think is everybody should be pitching in something, and I'm not talking about for programs they are going to use after retirement, I'm talking income taxes which fund our federal government. It doesn't have to be the same as the wealthy, or close to it, but something for crying out loud.

You aren’t getting this. Why? It’s not difficult.

 

[kyzr]

The Debt Bomb would also have a negative effect on the economy. Pick your poison, the Debt Bomb, or higher taxes and less spending.

Please list the "social programs" your raccoons could live without, Welfare, Medicare, Food Stamps (SNAP), farm subsidies, foreign aid?
See post #23 for how I would cut spending and raise taxes to start paying down the Debt. The economy would be fine.

The problem with these social programs is once they are started, they are virtually impossible to remove. They are killing our deficits and debt. What's the Democrat solution to this problem? Create more social programs and increase taxes.

The problem is that there is nowhere to cut unless you piss off the voters. Nobody wants to give up their goodies they've been accustomed to all of their lives. Cut military spending? That would make us more vulnerable to our enemies. China already has a supersonic rocket that we aren't close to creating yet.

Social programs like what? Welfare? Medicaid? Foreign Aid? SNAP (food stamps), Farm subsidies? Please see my post #23 where I put up real numbers. They can be adjusted for the SS & Medicare "fixes" like increasing the salary cap, or gradually raising the retirement age.

As for the latest "arms race", who gave China the cash to develop their military? Who is giving Russia cash for gas to fund their military?
No one is close to the US military. US military spending might even trigger WW3.
An ‘Arms Race in Speed’: Hypersonic Weapons and the Changing Calculus of Battle | Arms Control Association
US successfully flies its newest hypersonic missile on B-52 bomber, Lockheed-Martin says

Let me ask you about your list in post 23. What politician could run on that and get elected? The answer is, nobody. Not one politician could run on your plan and have a chance at coming close to a win. As much as DumBama was loved, or Bill Clinton, if they could get back into politics, perhaps a seat in Congress, they would be voted against in a landslide.

Totally agree. That's why I said that we'd need a "Grace Commission II" to map out the path to fiscal sanity. Then we'd need a bi-partisan Bill to implement the changes. There are items that BOTH parties hate. But if we don't want to get buried in Debt we need to get serious about the Budget Deficit before its too late.

Your plan to avoid the financial system collapse due to the $30T...$40T....$50T in DEBT?

My plan would be to institute a consumption tax until the deficit is eliminated, then work on paying off the debt. Why don't politicians address this? Because most people don't care about the debt. Politicians stay in power by giving us things, and the disaster we are heading for will not be their concern. It will be somebody else's problem.

If people cared bout the deficit and debt, Democrats would lose every election in a landslide. What is their promise? More taxing the wealthy and more spending on social programs. That means more problems down the road. But people who vote Democrats simply don't care. More free stuff for me???? You bet I'm going to vote for you, and politicians know this.

We agree on a VAT (value added tax or consumption tax). That's a good start.
Add in a few "fixes" for SS & Medicare and that helps a the budget deficit lot.
What may be the "trigger" for fiscal reform is the fact that Medicare will be bankrupt in 2026 unless its fixed.

 

[gipper]

The flip side being we are all served equally


Wealth inequality in the United States - Wikipedia


~S~

Good charts. My recommended changes are listed in post #23. But a few obvious changes are:
1. Capital gains goes to normal income
2. Add a 3% VAT so the bottom 50% pays 6% instead of 3%.
3. "Fix" SS & Medicare
4. Cut spending
5. Hire a "Grace Commission II" to eliminate loop holes in the tax code and find tax revenue.

While we’re dreaming, I will add drastically cut the War Department along with total elimination of the CIA and NSA.

Agree to end the "endless wars" but with China and Russia and terrorism we do need to keep the DOD, CIA, and NSA.
We just need to be sure that the assets are not abused like under Obama, Brennan, and Clapper to illegally spy on the opposition party.

We disagree. The DOD, CIA, and NSA do more harm than good. I’m not buying the line that Russia, China, and terrorism are such big threats that we need these lawless agencies.

They sure did a good job protecting us on 9/11.

When they have protected us it’s not such big news, just when they fail.

LMFAO. What a ******* joke.