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-- Smells Like Socialist Spirit
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Posted by George Smiley on Oct-27-2008 21:45:
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Originally posted by Fir3start3r
What's desparately needed is non-partisan, basic, personal financial education.
How to budget, how to handle money, what is money, etc., etc. |
Posted by Trancer-X on Oct-27-2008 21:57:
Re: Re: Re: Re: Re: Re: Smells Like Socialist Spirit
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Originally posted by colonelcrisp
Let me put this into a nice analogy.
I'm an engineer, with benefits, overtime and expenses, i make around 95-100K per year CDN$. I pay a shit load of taxes, but that doesnt bother me at all, i still have loads of money kicking around to pay down debt, pay for my living expenses, save for a rainy day and blow on stupid things.
The reason im not pissed about it is because when i got to mcdonalds, there is some shmuck there to serve me my fries, when i take my trash out in the morning, there is some guy that comes by in a truck to pick up my trash. There are hundreds of jobs that i would never want to do myself.
People who work these jobs (minimum wage, shit jobs) need some kind of incentive to keep doing it. Not everyone is intelligent enough to do what i do, or be a doctor, or lawyer etc. I think it is socially responsible to make sure that our tax system allows these people to maintain a good standard of living while providing a service. Just because im make a good salary doesnt mean i deserve to be pushed to the front of the line at the hospital, nor does it mean that my kids should get first pick of schooling etc. education and healthcare are the two great equalizers in society. If you're well educated and healthy, your are on equal footing with everyone else weather you came with a silver spoon shoved up your ass or you came from nothing.
I dont mind paying extra in tax to make sure people get fair and equal access to a good education and health care. |
What's so wrong with altruism? You know, giving to charities and other organiztions that support the needy. Why shoud we all be mandated to give up what we have when it should be done according to our own free will?
If we could all learn to be a little less materialistic and a whole lot less selfish then this world would definitely be a much better place for everyone. If we could learn to do that then perhaps people might begin to be judged by the content of their character rather than the size of their wallets (like the way things are now.)
Of course our media, the advertising industry, and sports and entertainment industries play a big role in perpetuating our culture of greedy consumption but over time I think that trend could easily be reversed if people began to question it. But that's a different topic altogether.
Posted by colonelcrisp on Oct-27-2008 21:57:
| quote: |
Originally posted by Fir3start3r
What's desparately needed is non-partisan, basic, personal financial education.
How to budget, how to handle money, what is money, etc., etc. |
In the words of the great Ron White.....
You can't fix stupid
Posted by jerZ07002 on Oct-27-2008 22:01:
Re: Re: Re: Re: Re: Re: Smells Like Socialist Spirit
| quote: |
Originally posted by colonelcrisp
Let me put this into a nice analogy.
I'm an engineer, with benefits, overtime and expenses, i make around 95-100K per year CDN$. I pay a shit load of taxes, but that doesnt bother me at all, i still have loads of money kicking around to pay down debt, pay for my living expenses, save for a rainy day and blow on stupid things.
The reason im not pissed about it is because when i got to mcdonalds, there is some shmuck there to serve me my fries, when i take my trash out in the morning, there is some guy that comes by in a truck to pick up my trash. There are hundreds of jobs that i would never want to do myself.
People who work these jobs (minimum wage, shit jobs) need some kind of incentive to keep doing it. Not everyone is intelligent enough to do what i do, or be a doctor, or lawyer etc. I think it is socially responsible to make sure that our tax system allows these people to maintain a good standard of living while providing a service. Just because im make a good salary doesnt mean i deserve to be pushed to the front of the line at the hospital, nor does it mean that my kids should get first pick of schooling etc. education and healthcare are the two great equalizers in society. If you're well educated and healthy, your are on equal footing with everyone else weather you came with a silver spoon shoved up your ass or you came from nothing.
I dont mind paying extra in tax to make sure people get fair and equal access to a good education and health care. |
+1
i make more than that in USD (i pay more than USD 35K a year in taxes) and i'm happy to bear a greater burden if it means all will be better. i'm not for free give-aways, but health and education are not give aways. Also, providing better access to education and health care will ultimately result in less crime in american cities, something we all want. So much crime in the US is a result of poverty, which is a result of poor access to education and health care.
Posted by Trancer-X on Oct-27-2008 22:05:
| quote: |
Originally posted by colonelcrisp
In the words of the great Ron White.....
You can't fix stupid |
No, but you can definitely make great strides in educating it.
Some of the wealthiest people that I know aren't exactly paragons of intelligence and some actually seem quite the opposite. Most of them just kept their noses to the grindstone and were also just lucky enough to have certain opportunities present themselves at the right times.
I think financial success has a lot more to do with material drive, personal ambition, and material motivation than anything else.
Posted by Trancer-X on Oct-27-2008 22:06:
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Originally posted by George Smiley
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What's funny about what he said? I don't get it.
Posted by Trancer-X on Oct-27-2008 22:08:
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Originally posted by Kapedano
This country has everything you need to get where you want. |
Yeah, but I think that a lot of people want to be materially rewarded for doing little to nothing.
IOW, they want their Socialistic handouts.
Posted by Shakka on Oct-27-2008 22:27:
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Originally posted by George Smiley
Says me |
You're hardly an authority. Perhaps you should re-investigate the definition of what an actual "right" is.
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| 18. a just claim or title, whether legal, prescriptive, or moral: You have a right to say what you please. |
So you say you have a claim or title to the services provided by the doctor at no cost? You're barking mad.
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| Why would there be no doctors? They are among the highest paid in every society on Earth and as such, there is no shortage of people wanting to become doctors |
I explained it but perhaps you don't comprehend basic economics.
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| What the fuck are you on about? Why would doctors be paid a pittance? How many fucking times do I have to tell you how highly paid doctors are? |
See above again. Why don't you tell me how well public defenders are paid in comparison to private attorneys and then perhaps you'll understand the comparison.
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| That's the point you moron, it's paid for out of people's taxes so it's free for everyone - from the poorest to the richest |
Feisty one aren't you. I love debating you George--you talk yourself in circles and then resort to ad homenim when you can't make a valid point. There is no free lunch. No question our public education system needs improvement but you seem to think that the only way to accomplish this is to throw more money at the problem and hope it fixes itself. It takes more than just tax money to make a broken system work. It takes willing participants with innovative solutions and a desire to see the system improve. As I suggested above, there is a massive amount of political opposition to many proposals that have been made to attempt to improve the public education system here because not many of the public educators want to be held to any standard--they would rather sit in their cushy government job and collect a pension while the youth of America suffer and fail to get a proper education. Not to mention how much of a child's eduction is the responsibility of the parents. You can't just extort more and more money from someone because they are "rich" in your eyes and expect the problem will magically be solved. What do you plan to do with all of your additional tax dollars for education? Fill the vending machines with Smartwater? Bwahahah--I kill me. But seriously folks.
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| Have you ever been outside of America? Are you aware that there exists a whole world beyond your borders? Free health care and free education work exceptionally well in other countries so why can't it work in the richest nation? |
Yes I have and I never realized the hellhole I live in until you just told me how much it sucks here.
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| Yet you spend every post defending them and arguing that they should contribute less proportionally to society... |
That is simply intellectually dishonest. The vast majority of the tax burden already rests squarely on the shoulders of the top 5-10% of income earners in the country while the bottom 30%+ pay no income tax at all.
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| But why do you assume that you'll fall into the bracket that I think should pay more taxes? If you're that well off then you're greedy, plain and simple... |
It has nothing to do with what bracket I think I'll end up in, it's what I think is an adequate system. I think lower taxes for everyone is better. If the government can't function on what it brings in, then the government needs to shrink. I have my own obligations and ambitions and I don't need some twit from across the pond telling me to what degree I'm "rich" or "greedy" or am not paying my "fair" share.
Posted by jerZ07002 on Oct-27-2008 22:38:
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Originally posted by Shakka
I think lower taxes for everyone is better. If the government can't function on what it brings in, then the government needs to shrink. I have my own obligations and ambitions and I don't need some twit from across the pond telling me to what degree I'm "rich" or "greedy" or am not paying my "fair" share. |
that begs the question of how much does the government need to function properly. you're assuming that the current income is an amount sufficient to run government. Shouldn't the amount necessary to fund government be determined before the proper tax allocation? It makes no sense to limit necessary government functions by some arbitrary tax income that you say is proper. If tax income was determined prior to the cost of necessary government expenditures then it is likely that there would be a shortfall because the nature of government is to match income with expense.
Posted by Shakka on Oct-27-2008 22:40:
Re: Re: Re: Re: Re: Re: Re: Smells Like Socialist Spirit
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Originally posted by jerZ07002
i make more than that in USD (i pay more than USD 35K a year in taxes) and i'm happy to bear a greater burden if it means all will be better. i'm not for free give-aways, but health and education are not give aways. Also, providing better access to education and health care will ultimately result in less crime in american cities, something we all want. So much crime in the US is a result of poverty, which is a result of poor access to education and health care. |
That's just great and congratulations to you on a fine achievement. No doubt you've worked very hard to get to where you are in your professional life. However, I think it's quite faulty and dangerous to assume that everyone in your shoes or in bigger shoes (for lack of a better word) feels the same way. And feeling differently doesn't make them better or worse than you. You'd be surprised how many "less" financially fortunate people than you actually don't want more handouts and a greater tax burden on the wealthy. Sure many do, but it is not the norm by any means.
I'd be happy with a base tax rate for all citizens, and if you are so altruistic as to be happy to carry more of the burden (as whoever cites Warren Buffet said), then by all means, send some extra income over to the IRS--I know they'd be happy to accept it. For those that are interested, allow me to direct you to the U.S. Treasury, who will be happy to assist you further:
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Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called �Gifts to the United States.� This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.
Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782
|
http://www.fms.treas.gov/faq/moretopics_gifts.html
By all means, show me how patriotic you are. I won't hold my breath.
Posted by Shakka on Oct-27-2008 22:42:
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Originally posted by jerZ07002
that begs the question of how much does the government need to function properly. you're assuming that the current income is an amount sufficient to run government. Shouldn't the amount necessary to fund government be determined before the proper tax allocation? It makes no sense to limit necessary government functions by some arbitrary tax income that you say is proper. |
Yes--proper budgeting would be a great start. Then we get to start taking a hatchet to all of the unnecessary entitlement spending programs and pork-barrel spending. Over the long-haul, greater government spending crowds out private investment and stifles long-term economic growth.
Posted by jerZ07002 on Oct-27-2008 22:53:
Re: Re: Re: Re: Re: Re: Re: Re: Smells Like Socialist Spirit
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Originally posted by Shakka
That's just great and congratulations to you on a fine achievement. No doubt you've worked very hard to get to where you are in your professional life. However, I think it's quite faulty and dangerous to assume that everyone in your shoes or in bigger shoes (for lack of a better word) feels the same way. And feeling differently doesn't make them better or worse than you. You'd be surprised how many "less" financially fortunate people than you actually don't want more handouts and a greater tax burden on the wealthy. Sure many do, but it is not the norm by any means. |
obviously people don't feel the same as I do. Noone is talking about handouts. I'm talking about access to education and healthcare. Find someone less fortunate than me who thinks greater access to education is a bad thing. I'm not talking about taxing so that poor people can get welfare checks. I don't mind paying greater taxes if it means more access to education and healthcare.
| quote: |
Originally posted by Shakka
I'd be happy with a base tax rate for all citizens, and if you are so altruistic as to be happy to carry more of the burden (as whoever cites Warren Buffet said), then by all means, send some extra income over to the IRS--I know they'd be happy to accept it. For those that are interested, allow me to direct you to the U.S. Treasury, who will be happy to assist you further:
http://www.fms.treas.gov/faq/moretopics_gifts.html
By all means, show me how patriotic you are. I won't hold my breath. |
both you and I know that's a ridiculous sensationist comment. I pay what i am asked to pay, and i expect no more or less from anyone else. Even if i was that altruistic, i wouldn't do such a thing because our government is wasteful. If it was guaranteed that my money was going to education or healthcare i would certainly give a little more.
Posted by Shakka on Oct-27-2008 23:05:
Re: Re: Re: Re: Re: Re: Re: Re: Re: Smells Like Socialist Spirit
| quote: |
Originally posted by jerZ07002
both you and I know that's a ridiculous sensationist comment. I pay what i am asked to pay, and i expect no more or less from anyone else. Even if i was that altruistic, i wouldn't do such a thing because our government is wasteful. If it was guaranteed that my money was going to education or healthcare i would certainly give a little more. |
But you're being more patriotic! (I know I'm kidding). It goes to show the point though. I am impressed that there is actually such a department for gifts like that. I think most people would prefer to direct their extra funds to charities and causes of their choosing. But your comment about government being wasteful is exactly right and is illustrative of why I abhor the thought of sending more and more taxpayer funds into the black hole that is government spending.
Posted by George Smiley on Oct-27-2008 23:15:
| quote: |
Originally posted by Shakka
You're hardly an authority |
Neither are you, so what's your point?
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| So you say you have a claim or title to the services provided by the doctor at no cost? |
Yes, and, everybody in my country enjoys that right
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| I explained it but perhaps you don't comprehend basic economics |
And you can't see the facts when it slaps you in the face...
www.nhs.uk
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| See above again. Why don't you tell me how well public defenders are paid in comparison to private attorneys and then perhaps you'll understand the comparison. |
This isn't theory, it's fact. I have free health care provided by doctors who are amongst the highest paid workers in the country
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| There is no free lunch. |
Yet it works in other countries, how do you explain that?
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| No question our public education system needs improvement but you seem to think that the only way to accomplish this is to throw more money at the problem and hope it fixes itself. It takes more than just tax money to make a broken system work. |
The fact is, those schools that have the resources produce the results...
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| It takes willing participants with innovative solutions and a desire to see the system improve. As I suggested above, there is a massive amount of political opposition to many proposals that have been made to attempt to improve the public education system here because not many of the public educators want to be held to any standard--they would rather sit in their cushy government job and collect a pension while the youth of America suffer and fail to get a proper education. |
What a ridiculous argument. In my country, if you're not up to the standard you get sacked, just like in any other job
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| Not to mention how much of a child's eduction is the responsibility of the parents. |
Yes, that's right, it's up to the parents to teach the laws of physics and the history of the world? Shit, why do we even have teachers in the first place!?
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| Yes I have and I never realized the hellhole I live in until you just told me how much it sucks here. |
You don't seem to be aware of a world outside your American bubble, or more likely, you're so ignorant you assume America does things the best way possible, and that all other ways done in other countries are done by savages. Face facts, the world offers much greater solutions to society's problems than is offered by the inherently selfish American culture (well, there is enough selfishness in your culture that prevents those with the desire to see a better life for everyone in the country make the change)
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| That is simply intellectually dishonest. The vast majority of the tax burden already rests squarely on the shoulders of the top 5-10% of income earners in the country while the bottom 30%+ pay no income tax at all. |
Is that true? I'm sure you can back those (irrelevant btw) figures up with hard facts?
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| It has nothing to do with what bracket I think I'll end up in, it's what I think is an adequate system. I think lower taxes for everyone is better. If the government can't function on what it brings in, then the government needs to shrink. I have my own obligations and ambitions and I don't need some twit from across the pond telling me to what degree I'm "rich" or "greedy" or am not paying my "fair" share. |
I have no idea how much you earn, so I'm not telling you how much you should or shouldn't contribute to society. However, if you fall in the top 10% of earners, I expect you to contribute a hell of a lot more than those at the bottom. Likewise, if you were earning minimum wage, I would not expect you to pay as much and I would also provide you with basic services to further reduce your financial burden like give you free health care...
Posted by jerZ07002 on Oct-28-2008 00:09:
Re: Re: Re: Re: Re: Re: Re: Re: Re: Re: Smells Like Socialist Spirit
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Originally posted by Shakka
But you're being more patriotic! (I know I'm kidding). It goes to show the point though. I am impressed that there is actually such a department for gifts like that. I think most people would prefer to direct their extra funds to charities and causes of their choosing. But your comment about government being wasteful is exactly right and is illustrative of why I abhor the thought of sending more and more taxpayer funds into the black hole that is government spending. |
while i was on the train home i had an additional thought. a single person giving more to the government will do nothing. it is only through the collective increase (i.e., higher taxes) that it would be effective.
we are both on board with cleaning up spending, there is no disagreement.
Posted by Swamper on Oct-28-2008 00:27:
http://www.dailykos.com/storyonly/2...4/36/995/643777
Eh?
Posted by The17sss on Oct-28-2008 04:33:
Re: Re: Smells Like Socialist Spirit
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Originally posted by George Smiley
What exactly is wrong about redistributing wealth to create a more fair society where opportunity exists for everyone, not just for those that can afford it? |
Sorry it took me so long to get back to this thread... been out all day. Anyway, if wealth distribution was a good thing, and worked, then the "Great Society" and the "War On Poverty" and the "New Deal" would have been successful, as their aim was exactly this idea to even the playing field and make everything fair... with those programs there's been over $7 trillion in wealth transfer, redistribution style and they've only created more entitlement programs and haven't solved a damn thing. It's failed every time it's been tried and it never makes those people any happier. Take the housing situation... the beneficiaries of "affordable housing" who were promised a house got what they wanted, but it's in foreclosure! Dems of course are going to find a way to keep them in the house with our tax dollars, even though they can't pay for it. But even when they got the house they were no happier because they really didn't pay for it, and there was nothing that they did themselves to engender self-satisfaction or pride. THAT is what socialism destroys.
If the Dems get this social engineering dream of utopia accomplished, plus a 60 seat majority in the senate, well, the last time that this happened was during the Jimmy Carter presidency, and you know what happened during the Jimmy Carter presidency. The Left was left unchecked and it was able to implement what it believes. How about the last time before that? It was during the Lyndon Johnson presidency when we got the Great Society, and the War on Poverty. We got all of these entitlement programs and there's nothing that can be done about them, per se. Again, if those programs had equalized all the inequalities and if it made fair all the unfairness, there would not be any argument that we need to keep doing it. In two years, Pelosi and Reid have been running the show and you can go back and you can check statistics from 2006, and you take a look at the way things were during the first six years of the Bush economy, take a look at the last two years with the Democrats unchecked in the House of Representatives and so forth, you can see the economic disaster.
This whole notion that redistributing wealth is a distraction, is not a distraction... it's the core issue here. Bottom line, When a candidate proposes to use the power of government to steal money from tens of millions of citizens to give to other citizens who have not earned it, it's socialism.
And if you think our economy is bad today, wait for his massive tax increases on the middle class, which is going to happen in 2010 when the Bush tax cuts expire, and he doesn't have to do anything. I know I know, the Obama campaign is trying to say, "This is not a tax increase, it's just a tax cut expiring." Well, the practical effect of it is you're going to have less disposable income. And then from there is where Obama's going to apply the rest of his tax increases. There are going to be massive tax increases on your employer. You think 6% unemployment is high now? If he gets 60 seats in the Senate and Pelosi does her magic in the House, there is no Republican opposition anywhere, we're back up to 12% unemployment just as we were during the Jimmy Carter years. You think the financial markets are a mess today, you wait and see what happens to them when they are taxed beyond their ability to pay, what happens to mortgages and bank accounts, and when the economy comes crashing down, who do you think Obama will blame, what do you think he'll do? The ground has already been set for massive nationalization, including our pension plans.
Then when he crashes the economy, it will be time for another crisis measure, and that will be nationalizing everything because the first attempt didn't quite get it right.
Your whole notion that the bailout was strictly Republican is hilarious. And your assertion that Britain's health care system is a model for the world is equally disturbing.
Posted by DJ Shibby on Oct-28-2008 04:42:
Did you really attempt to use a Nirvana song in your title?
I think you did.
Posted by The17sss on Oct-28-2008 06:48:
| quote: |
Originally posted by DJ Shibby
Did you really attempt to use a Nirvana song in your title?
I think you did. |
Posted by George Smiley on Oct-28-2008 09:50:
Re: Re: Re: Smells Like Socialist Spirit
| quote: |
Originally posted by The17sss
Sorry it took me so long to get back to this thread...
The concise history of America snipped! |
You're suffering a similar problem to Shakka, you have a complete inability to see the world outside America. I'm no communist/marxist, I don't think those ideologies work. But that's not what socialism means. A socialist ideology might be described as communist in its extreme form, but most people around the world when they talk about being a socialist is because they favour certain individual policies, not the whole package. Sweden and Norway are perhaps the most successful countries on Earth, and their economic model is something I aspire to for my country. But you would never think about Sweden or Norway as being America's deadliest enemies would you? (Obviously not saying these countries are perfect and they still have a lot of problems as you would expect) The fact is, there aren't any policies that I would argue for that haven't successfully been tried elsewhere, so I know they work.
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| When a candidate proposes to use the power of government to steal money from tens of millions of citizens to give to other citizens who have not earned it, it's socialism. |
And when the Republicans do it its actually "patriotism"? All governments tax, are you saying every government America ever had has been socialist?
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| And if you think our economy is bad today, wait for his massive tax increases on the middle class |
Well me and you have different definitions of "middle class" I think. In every other country in the world, middle class means petit bourgeoisie (ie the more well off people). In America, I think middle class is that bulk of people that fall between working class and middle class (so 'working class done good' or 'lower middle class'), I guess your typical white collar worker right? Well, if we're talking about the same group of people, and this is the most important group for the economy, then why not subsidise their tax with those above them? The working(UK)/middle(US) class do suffer in times of difficulty and they should be assisted too (they would benefit from free health care for example or child benefits, etc).
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| what happens to mortgages and bank accounts, and when the economy comes crashing down |
But that has already happened because of America's capitalist policies. And now people, middle class white collar workers, are homeless! If you had more social protection, you can ward off the worst effects of an economic collapse for the population, but your current policy offers no such protection as you see with all the problems you're facing today
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| The ground has already been set for massive nationalization, including our pension plans. |
Well I think if anything this economic crisis that America caused for everyone in the world shows that nationalised pensions (subsidising private ones of course) are vital. Our private pensions are thrown into the whim of the stock market, what would have happened if I was due for retirement? My life savings pissed down the sink! At least with a state pension British people get the basic costs of living, anything else they saved up is a bonus, but without that state subsidy, you might as well go straight to the soylent green processing plant!
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| And your assertion that Britain's health care system is a model for the world is equally disturbing. |
Why what's wrong with the NHS? It's the greatest thing a British government has ever done and probably ever will do
Posted by Shakka on Oct-28-2008 12:51:
| quote: |
Originally posted by George Smiley
Is that true? I'm sure you can back those (irrelevant btw) figures up with hard facts? |
Quoting a couple of passages from The Gartman Letter, a daily economics publication:
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"According to data supplied by the IRS and the National Tax Foundation, at its best back in the early 1980's, only 17% of the public did not pay any tax to the federal government. That began to change in '86 with the passing of the tax reform act of that year. Quietly, the number of those not paying taxes rose. By 1990, that number was up to 21%. By '93 it was up to 24%...and it held essentially steady there through the remainder of the 90's.
After the turn of the century, the chart turned upward, and did so materially. By '01, 27% of America did not pay taxes to the Federal government. By '04 it was 33%, and the trend was accelerating. It is now expected that under Sen. McCain's tax proposals, that by '09, 43% of Americans earning wages will not pay federal taxes of any kind. Under Sen. Obama, it will be only marginally worse, for under his proposals, 44% will not pay any federal taxes. At the current pace, by the mid-"teens," we will pass the 50% level, and once past there we fear that the acceleration will only worsen. This is creeping socialism at its very worst, for it happens slowly but it happens inexorably. We are left to wonder if we have not already passed the point of no return? Sadly, we fear we have. |
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...Firstly, we note that the top1% paid 40.4% of the total taxes in '06 (the last year for which hard data is available) and received 22.06% of the total revenue. In fact, the top 1% of the nation's taxpayers in '06 paid almost exactly the same amount of total tax as the lower 95%...a truly astounding comparison in our opinion. Further, since 1980, the percentages have been moving "against" the upper 1% and "for" the lower 95%, for according to our friend Dr. Mark Pery again of the University of Michigan in 1980 the top 1% paid only 19% of the total federal income taxes paid, while the bottom 95% paid more than 63%. Over the last 25 years, the tax burden on the top 1% increased from 19% to 40% while the tax share of the bottom 95% has decreased from 63% to 40%.
This is not an inconsiderable shift, in our opinion. However, the public's perception of the manner in which the tax burden is shared is incredibly skewed...and manifestly wrong. Nearly 7 of 10 people surveyed...actually it is 68 of 100, but let's not quibble...though that the "rich" paid less than 40% of the nation's tax burden, while only a bit more than 1 of 10 thought they paid more than that. 9 of 10 Democrats thought the "rich" paid far less than the 40% they do pay. Interestingly, the figures did not move much according to education levels: 92% of those with a high-school education thought the top 1% paid less than what they do, while 89% of those with some college education thought so. 9 of 10 Obama supporters thought the top 1% paid less than they actually did, but surprisingly, 7 of 10 McCain supporters thought the same.
For the record, as we prepare ourselves for a much higher and rising tax burden, we note the following figures from the IRS as of last October:
The top 1% paid 39% of the total taxes.
The top 5% paid 60%.
The top 10% paid 70%.
The top 25% paid 86%.
The top 50% paid 97%, and
The bottom 50% paid only 3% of the total taxes.
To make the top 1%, one needed to earn $364,657; to make the top 5%, the break point was $145,283; to make it inot the top 10%, one needed $103,912; the break for the top 25% was at $62,068, and for the top 50% the break came at $30,811. |
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| However, if you fall in the top 10% of earners, I expect you to contribute a hell of a lot more than those at the bottom. |
Don't worry, I pay plenty.
Posted by George Smiley on Oct-28-2008 13:43:
| quote: |
Originally posted by Shakka
Quoting a couple of passages from The Gartman Letter, a daily economics publication: |
And this refers to income tax only? Definitely not including corporate tax or sales tax or anything like that?
Either way, if you're in the top 1% you're taking home a quarter of a million dollars after tax which is a huge amount! It's not like they're gonna go without food or owt is it?!
But, like I said below, the figures are irrelevant. And the figures you just posted are only in proportion to the spread of the wealth. The top 1% in America control approx 20% of the wealth, so it's obvious they will be paying a larger part of income taxes (well, the higher you go the more tax dodges there are). That the bottom 50% pay no taxes (income) suggests a rising number of poor people. Also, can you explain to me how they pay no taxes as I'm not aware of a tax free bracket in America? If you earn, you have to pay at least 10%, is that right? So either 50% of the population don't work (we're not counting pensioners and children in this figures are we?!) or I've got the wrong end of the stick???
I'd also like to point out that I don't favour raising taxes from anyone other than in the top bracket of income tax (those earning over $350k, and even then, for argument's sake, I could add a new tax bracket at over $0.5m and still raise shit loads extra at no extra cost to anyone other than less than 1% of the population). My preferred means of taxation would be from the profits of the mega corporations but then, you'd say that was "stealing" as well from small businesses!
| quote: |
| Don't worry, I pay plenty. |
Can you tell me what benefits you can see from paying your taxes? And what do you not like your taxes being spent on? Is there anything you think should receive more federal money?
I'd also like you to address the rest of my previous reply to you, not just cherry pick the areas you think you can make an argument (unless of course you agree with everything in my last post?)
Posted by Zild on Oct-28-2008 13:52:
Yes George you have to pay 10% on any earnings, but after you take the standard deduction and a personal exemption you don't have to start paying unless you earn at least $9000 since that is what the deduction + exemption amounts to.
Posted by George Smiley on Oct-28-2008 13:59:
| quote: |
Originally posted by Zild
Yes George you have to pay 10% on any earnings, but after you take the standard deduction and a personal exemption you don't have to start paying unless you earn at least $9000 since that is what the deduction + exemption amounts to. |
Thanks. So if around 50% of the population are paying no tax, does that mean 50% of the (working) population earn less than $9k?! That can't be right can it??
Posted by Zild on Oct-28-2008 14:01:
| quote: |
Originally posted by George Smiley
Thanks. So if around 50% of the population are paying no tax, does that mean 50% of the (working) population earn less than $9k?! That can't be right can it?? |
I believe that is what is being implicated.
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