SHORTAGE OF MONEY!

[Frankn]

A flat regressive tax would be a disaster for MOST people (except the rich). I would support a progressive flat tax. $50,000 or less 1%, $50k to $100K 10%, $100k to 200K 15%, $200k or more 20%. No deductions. No expenses, no nothing. Then again, not likely. Too many rely on deductions to guild our behavior.

As for the Money overseas, I would support a tax holiday... no tax on any money brought into the U.S. as long as it is used for investment in capital development (factories), Salaries for new hires, etc. If they want to bring the money back to improve their business within the U.S. GREAT. The government will get its taxes on the rebound (sales tax on capital investment, income tax on new hires, etc).

I like your idea on a tax holiday on money moved back into this country and used for investment. But I believe a flat tax should be just that, the same for everyone over the poverty level. This makes it more likely to be paid as it would be perceived as being a fair tax by all. The increase in paying more in taxes is driven by more income not an arbitrary number. Several years ago, an accountant I knew Had worked the numbers and it came out to app. 10% . The 10% tax was derived straight from the income with NO deductions. Frank

 

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[packerbacker]

I just think that they should look at "spending" reform along with tax reform. We wouldn't need such high taxes if they would control spending what they do get. You can only buy your dependent children so much before the money runs out.

 

[dejapooh]

I like your idea on a tax holiday on money moved back into this country and used for investment. But I believe a flat tax should be just that, the same for everyone over the poverty level. This makes it more likely to be paid as it would be perceived as being a fair tax by all. The increase in paying more in taxes is driven by more income not an arbitrary number. Several years ago, an accountant I knew Had worked the numbers and it came out to app. 10% . The 10% tax was derived straight from the income with NO deductions. Frank

Progressive taxes are generally accepted as being the most fair. Those who have the ability to pay more should. If you earn $40,000 a year, that $4000 tax bill is really going to hurt. If you earn $4,000,000 a year, sending in $400,000 is like a holiday. Who cares. The only way the bite can seem similar is to create a fair, progressive system that spreads the pain around so that all feel the pain of their responsibility equally.

 

[dejapooh]

I just think that they should look at "spending" reform along with tax reform. We wouldn't need such high taxes if they would control spending what they do get. You can only buy your dependent children so much before the money runs out.

The biggest problem here is the so much of the spending is non-discretionary. So much money is spent on commitments we made years ago. We planned for the expense of Social Security for the Baby Boom, Medicare, medicaid, and so on, but we did not plan well enough. Like those who lost their 401k in the crash, we are struggling to pay for things we have collected on over the last 50 years. It will be a hard row to hoe, but we will make it. I believe we will have to go to some sort of means testing for Social Security. We may have to change laws to try to make medicare more sustainable (negotiate prices on drugs?)... We can eliminate all discretionary spending, and without an increase of revenue, we will not solve the problem.

 

[dieselram94]

The biggest problem here is the so much of the spending is non-discretionary. So much money is spent on commitments we made years ago. We planned for the expense of Social Security for the Baby Boom, Medicare, medicaid, and so on, but we did not plan well enough. Like those who lost their 401k in the crash, we are struggling to pay for things we have collected on over the last 50 years. It will be a hard row to hoe, but we will make it. I believe we will have to go to some sort of means testing for Social Security. We may have to change laws to try to make medicare more sustainable (negotiate prices on drugs?)... We can eliminate all discretionary spending, and without an increase of revenue, we will not solve the problem.

I don't think the govt has a revenue problem. Means testing for social security is just another form of wealth transfer. Tax all and punish those who planned for retirement (personal resposability) with no benifits and reward the irresponsible by giving them benifits. Socialism...

 

[dejapooh]

I don't think the govt has a revenue problem. Means testing for social security is just another form of wealth transfer. Tax all and punish those who planned for retirement (personal resposability) with no benifits and reward the irresponsible by giving them benifits. Socialism...

Ok, you are saying we need to cut spending. I am saying we need to cut spending and increase revenue. I've mentioned one place we could cut, We can cut defense. We can cut subsidies to farmers and oil companies. Tell me where we can cut enough to make up for all we have to pay?

 

[dieselram94]

Welfare?

 

[dieselram94]

Ok, you are saying we need to cut spending. I am saying we need to cut spending and increase revenue. I've mentioned one place we could cut, We can cut defense. We can cut subsidies to farmers and oil companies. Tell me where we can cut enough to make up for all we have to pay?

Cut defense? Really? Do you think in today's world that would be wise? We have always had everyone's back on the world stage, but who has ours? May I remind you of North Korea's nuke tests recently as well as Iran's nuke program? I am all for cutting spending but I think a cut in defense is suicide. I say cut welfare, subsidies to study things that don't need to be studied, foreign aid to countries that hate us just to start the list. Why should you or I be punished for being responsible and preparing for retirement? Don't get me wrong I hate social security but if I am required to pay in I deserve to get something back. It's my money and not the government's after all!

 

[dieselram94]

As far as increasing revenue goes, if we lowered tax rates for individuals and corporations that keep money and operations here revenues would naturally go up as the economy improves. How has the economy been doing the last several years with the threat of taxes going up and obamacare being implemented. Not to mention minimum wage.

 

[hvacker]

His ponzi scheme was essentially what social security does. There is no better system than capitalism. The bankers were forced to make bad home loans by Clintons affordable housing act. Lets make sure we place the blame were it truly belongs.......

I think we drink from different wells. What you call Ponzi I call an annuity. For those that collect SS most will say it's the best investment they ever made.
To blame Clinton for the housing disaster years after he left office is a stretch. Especially after Bush's' contribution.
Blaming any President is just giving the real crocks a free pass. None of our Presidents conceived the ideas of robo signers, false credit reporting and we all know the rest. I blame the crooks.
History teaches that an empire's failure begins with a moral decline. Our decline strangely seems to mirror the legalization of many things that once were illegal but mainly pornography. I'm no moralist, just pointing out a parallel. The immoral things done in business today once were scarce.

 

[shadowdfx]

Obama sucks plain and simple. We are in more debt then the last 4 presidents. Unemployment is higher then the last 10 presidents combined. He is trying to take our guns. Next month he will take our metal detectors. Wake up America!

 

[Crispin]

I think we drink from different wells. What you call Ponzi I call an annuity. For those that collect SS most will say it's the best investment they ever made.
To blame Clinton for the housing disaster years after he left office is a stretch. Especially after Bush's' contribution.
Blaming any President is just giving the real crocks a free pass. None of our Presidents conceived the ideas of robo signers, false credit reporting and we all know the rest. I blame the crooks.
History teaches that an empire's failure begins with a moral decline. Our decline strangely seems to mirror the legalization of many things that once were illegal but mainly pornography. I'm no moralist, just pointing out a parallel. The immoral things done in business today once were scarce.

Got to disagree with you here Hvacker. Humanity is evil by nature. Our subconscious drives us to fulfill our needs with wanton disregard for others. It is our superego that prevails to create a moral society. Man has been corrupt since the rise and fall of Rome. Every immoral thing done now has been done over a dozen times. As Chadeaux would say, this is just another one of the earth's cycles. It was neither caused by man, preventable my man, or destined by main. If society declines then it is natural. If society does not decline then it is natural. As moral decline rises in society so will the rise of moral high ground. People, if nothing else, are predictable.

When it comes to pornography...I can't define it for you, but I will know it when I see it.

Crispin

 

[dieselram94]

I think we drink from different wells. What you call Ponzi I call an annuity. For those that collect SS most will say it's the best investment they ever made.
To blame Clinton for the housing disaster years after he left office is a stretch. Especially after Bush's' contribution.
Blaming any President is just giving the real crocks a free pass. None of our Presidents conceived the ideas of robo signers, false credit reporting and we all know the rest. I blame the crooks.
History teaches that an empire's failure begins with a moral decline. Our decline strangely seems to mirror the legalization of many things that once were illegal but mainly pornography. I'm no moralist, just pointing out a parallel. The immoral things done in business today once were scarce.

I can agree with some of what you said. However ss is a ponzi scheme and I disagree most say they get more out than they put in. I don't believe I will ever see a penny out of it. The statement they send out every year says right on it to not expect a full benefit as promised. The money is not there. I see what your saying about past presidents so how come Obama still blames bush in almost every speech he makes? Is this economy not yet his? If not when is it his? Clinton mandated banks make so many bad loans with the affordable housing act. This got the ball started. My home is paid for in full, so why should the guy down the street that can't afford his home get to stay in it and have a interest rate that gets lowered and a principal balance that gets partially forgiven? More wealth redistribution. Where am I wrong?

 

[Crispin]

Obama sucks plain and simple. We are in more debt then the last 4 presidents. Unemployment is higher then the last 10 presidents combined. He is trying to take our guns. Next month he will take our metal detectors. Wake up America!

Welcome to the forum Shadowdfx! Obama is not trying to take your guns....I am...ROFL,

 

[dieselram94]

Welcome, Shadowdfx! Sounds like you came to the right place!

 

[packerbacker]

As some have challenged pro-gun people to go to the big march on Washington if you are really serious about protecting the 2nd amendment if you live in the East and stating that, if you don't go , you don't really care, I would make another challenge. Go down to your local Social Security office and see how many "old" people are there. The place is CRAWLING with druggie-looking people and those who "claim" to be unemployable. THAT'S where SS has gone! Go to some community colleges and see how many women are there as perenial students because welfare pays their way while friends of theirs or their parents also get money from the taxpayers for taking care of their fatherless kids. I mentioned before, I was in line behind a woman getting a couple loaves of bread at a local market. The clerk told the lady that the bread wasn't fresh, it was day-old bread. The lady said that was ok because the bread was for the ducks at the park as she paid for it with foodstamps. That's probably why they now give them credit cards so they look like functional members of society. Then we have the illegal aliens we spend billions on. Now they say calling them "illegals" is demoralizing. WTF?!! They want to be called "undocumented". It's like driving without a license. Undocumented driving is illegal! Geeeeeezus!

 

[packerbacker]

btw, how come you can go to the DMV, the VA, the post office etc. with no problem but, if you go to the SS office you are met at the door by an armed guard and asked if you have weapons and I've seen some have their purses checked. What's with that if it isn't because that's where the lowlifes crawl??

 

[dieselram94]

Some people just hate to admit welfare is full of scum......I guess they either feel guilty about what they have or they are a recipient........

 

[0121stockpicker]

As some have challenged pro-gun people to go to the big march on Washington if you are really serious about protecting the 2nd amendment if you live in the East and stating that, if you don't go , you don't really care, I would make another challenge. Go down to your local Social Security office and see how many "old" people are there. The place is CRAWLING with druggie-looking people and those who "claim" to be unemployable. THAT'S where SS has gone! Go to some community colleges and see how many women are there as perenial students because welfare pays their way while friends of theirs or their parents also get money from the taxpayers for taking care of their fatherless kids. I mentioned before, I was in line behind a woman getting a couple loaves of bread at a local market. The clerk told the lady that the bread wasn't fresh, it was day-old bread. The lady said that was ok because the bread was for the ducks at the park as she paid for it with foodstamps. That's probably why they now give them credit cards so they look like functional members of society. Then we have the illegal aliens we spend billions on. Now they say calling them "illegals" is demoralizing. WTF?!! They want to be called "undocumented". It's like driving without a license. Undocumented driving is illegal! Geeeeeezus!

"Old people" don't go down to the office they just get it mailed to them.

I know it's easy to blame the freeloaders and crocks and the lazy but it is just a plain fact that the vast majority of entitlement spending - SS , Medicare, bush subsidized drug program, etc is going to regular participants in these programs. No one is blaming them - these are programs constructed by the government that have gotten wildly out of control that no one is willing to tackle. This is just a fact. Along with defense spending and interest on our wonderful debt this accounts for the vast VAST MAJORITY if government spending. The rest is rounding errors. Now I believe it's a crime to waste one single penny but you will never fix the deficit and debt without changing the entitlement system. Need to increase the age, means test, etc, etc. and believe me I don't like this anymore than anyone else. I've paid a ton into these systems and will likely never see a penny. But we just keep kicking the can down the road - someone's got to be responsible and step up to deal with it. But I guess that's why I dislike politics.

 

[Frankn]

I would love to see SS & Medicare separated from the "welfare"programs. They are paid for by the people that get them. They are not a free lunch, only grossley missmanaged. Frank