America Sinks.....

[Colpy]

Are these people nuts??/

U.S. Democrats lose bid to end tax cuts for wealthy

Read more: U.S. Democrats lose bid to end tax cuts for wealthy

I don't get it, I really don't.

You can't go on just printing money, and you can't afford guns and butter. Choose.
​

 

[Trotz]

I agree with tax cuts, to the extent that personal income taxes should be eliminated, but not just for the rich.

As it stands, since the richest of society can easily hide their incomes, and nevermind that illegal aliens do not pay income taxes but continue to use our social services, personal income taxes affect the honest working and middle classes the most and are otherwise obsolent.

A VAT, which doesn't exempt corporations, would go a lot further and wouldn't be so easily avoidable. In addition, there could also be a need for a luxury and luxury customs tax on high end consumer goods. People might end up buying their private jets in Europe but good luck trying to smuggle in that Porsche.

 

[damngrumpy]

The Republicans or the office of the rich, have it their way because people in America don't have
a clue about reality. The country is a left over of the days when America could do anything, say
anything and use whatever force was necessary to attain anything.
The rich don't pay their fair share, the rich let the middle class and poor kids fight their wars for
them while the educated stay home and make even more money. The problem for everyone is
soon there won't be enough money to pay for defence or the conflicts they are embroiled in. Then
it still matters not because will send Christ back, and he will bring on the second coming because
we are living in the end times and once all this comes to pass everything will be fine and America
will welcome the coming of a new age.
No the above does not make a whole lot of sense, but it is the belief system of all to many Americans
today. The whole nation has become some kind of a Disneyland where reality doesn't calculate the
entitlement of those who live there. This people are sliding off the map of significance and they don't
see it coming. Reality will soon slap them upside the head, when they realize just how broke they are.
The recession for America is not over, and hell, the depression has not even begun, and yet their first
defence is protecting the wealth of the rich, as it pacifies the greed of those who want the brass ring.

 

[Risus]

Are these people nuts??/

U.S. Democrats lose bid to end tax cuts for wealthy​

Read more: U.S. Democrats lose bid to end tax cuts for wealthy​

I don't get it, I really don't.​

You can't go on just printing money, and you can't afford guns and butter. Choose.​

Of course the yanks are nuts. They put bush in for a second term, didn't they???

 

[ironsides]

Does anyone here really believe that taxing the rich 1-2%, will make any difference? We are so far in debt that only by restarting our manufacturing base can we even start thinking about getting back to a manageable budget. Removing Bernanke, restructuring the FED (which of course will include the world banking system) may help also.

Now taxing everyone over a certain income could be an answer also. (25-30% cross the board no exemptions)

 

[damngrumpy]

Ironsides not taxing the rich is the reason they are in so much trouble. In addition the greedy
bastards shipped their factories overseas to increase their own profit margins. The time has
come for Americans to say enough. On the other part of the discussion, you are right America
must no longer be a nation of consumers, as set out during the Bush Administration. They
must rebuilt their industrial base and tell the WTO their little game is over. I for one believe we
must protect Canadian and American jobs, and we must at least legislatively control our natural
resources and raw materials.

 

[ironsides]

Now going after them for moving jobs out of the country is another matter. I have no objection to going after the companies or for that matter rewarding companies who create jobs here. We should make money from what we export overseas and just worry about us (Canada and the U.S.) only. Let the rest of the world sort out their own problems. The outsourcing took off during the 1980's (recession) with Ronald Reagan and every President after him.

 

[FiveParadox]

I think that a progressive tax system is an absolute must for liberal democracies.

To raise the revenue that the State needs to adequately raise funds to provide services to citizens, the State generally has three options: (a) tax everyone for a flat amount, (b) tax everyone for the same percentage, or (c) tax with progressively-increasing tax rates, dependent upon income. The first two options would crush the lower-class and middle-class citizens, and push a dangerously-large segment of the population into the already-bulding masses of the impoverished; the only reasonable option, then, is progressive tax rates. The rich are able to afford so much more than what is considered an adequate standard of living--it makes a lot of sense to tax these citizens a higher percentage.

 

[petros]

I like how they manage to get people to blame the governmet for what the bankers have caused. Slick.

 

[ironsides]

Yes, but what is rich? As I mentioned 1-2% of the population would not generate enough in tax's (even at 90%) to make a difference. The burden still falls upon the middle and lower classes. We all are generations from seeing this end.

Who are the richest people in the United States? Top two are very generous already.


Read more: The Richest People — Infoplease.com The Richest People — Infoplease.com​

The Richest People — Infoplease.com

 

[petros]

Global government debt is 1.5 Quadrillion. The people of the planet are screwed.

 

[ironsides]

I like how they manage to get people to blame the governmet for what the bankers have caused. Slick.

The goverment had to authorize all these laws, including the FED which the people had no say in its creation, along with the income tax.

 

[Trotz]

Tax brackets are just an indication of government laziness. $100,000 (26%) in Vancouver doesn't go far compared to someone who owns their own home, lives off the grid and makes about 9,000 (0%) and another 10,000 in undeclared income (more common than you think in rural British Columbia).

 

[petros]

When the players bounce back and forth from bank to public office back to bank it's not really a government anymore is it?

 

[ironsides]

nope

 

[Trotz]

Government Debt is easily solved,

the Germans had the right idea, just print the rolling presses and blame it all on a convenient scapegoat. It's probably what the United States, with most of its debt in USD, is planning.

 

[petros]

Kinda need to start from scratch huh but where do you come up with 1.5Quadrillion. Who do we owe it to? Mars? How about we off the handful we owe and call it a day?

 

[Trotz]

Bankers... Chinese people...

Hey, I know, they'll blame Chinese Bankers! It's the Chinese Bankers fault that a Coca Cola now costs 2 billion dollars!

 

[ironsides]

Estate tax due to be changed. (time for kids to move to Canada?)


The Economic Growth and Tax Relief Act of 2001 was signed into law on June 7, 2001 during the Bush Administration. Currently there is an exclusion of $3.5 million for 2009 before any portion of an estate is subject to Federal Estate Tax. So if the estate is valued at $3,499,999 million, there is no tax. If it is valued at $3,500,001 then that dollar over $3.5 million is taxable (only that dollar, the first $3.5 million is excluded and not taxable) at 45%. In 2010, there is no Federal Estate Tax, it is temporarily suspended for that one year but then in 2011 the Federal Estate tax resets back to it's previous level when the bill "sunsets" (expires) on December 31, 2010. At that time the exclusion returns back to $1 million and the top tax rate goes back to 55% for amounts over the $1 million exclusion.
There has been talk in Congress of passing a new bill and making the exclusion $5 million and making that exclusion permanent instead of having it change year to year as has been happening since 2001. I just hope that the Congress fixes this before the end of 2009 so that people so not choose to end their lives ( or be "helped" to end their lives) during 2010 when there is no Federal Estate Tax.

As far as State Inheritance Taxes, some states, like New Jersey, have on but most states, like California, do not. It all depends on what the jurisdiction is of the estate.

Bankers... Chinese people...

Hey, I know, they'll blame Chinese Bankers! It's the Chinese Bankers fault that a Coca Cola now costs 2 billion dollars!

Hey there Hot to Trotz, we have no problems with the Chinese banks, they are supporting us. Still get to purchase more with our dollar.

 

[Colpy]

Of course the yanks are nuts. They put bush in for a second term, didn't they???

Ah.....the other choice was Al Gore..........

Quote: Originally Posted by Trotz

Bankers... Chinese people...

Hey, I know, they'll blame Chinese Bankers! It's the Chinese Bankers fault that a Coca Cola now costs 2 billion dollars!
​

Nuke China.

What debt??

(I'm kidding)

Really

(insert maniacal laughter here)