Rush Limbaugh, the original American Idiot.

beaslbob

beaslbob

Well-Known Member
Quote:Originally Posted by Darthtang AW http:///t/396747/rush-limbaugh-the-original-american-idiot/20#post_3535073
The people? Explain how i would acquire more money to buy things.
Flat tax wont work money will still be hidden. This country could tax two things and things would be solved. Capital gains and create a federal sales tax. Every purchase would be taxed.

The people? Explain how i would acquire more money to buy things
After taxes you have more money
Federal sales tax would have to be apportioned amoung the states based on population just like every other non income tax.
instead just tax income. all income, from any source with no deductions.
 
2quills

2quills

Well-Known Member
Quote:
Originally Posted by Darthtang AW http:///t/396747/rush-limbaugh-the-original-american-idiot/20#post_3535074
Have you ever owned a business? Business owners are taxed beyond belief as it is.

How do you come up with me wanting to increase tax on business owners by wanting to close loop holes that allows people to evade paying taxes? I simply want to see a flat tax for everyone and actually see everyone pay it. I think that's fair, don't you? And no I don't believe taxes will solve all of our economic woe's. Tax evasion is just one of those things that hurts us more than it helps us right now.

But now that you ask, yes I had my own landscaping business for several years back in Michigan. I actually made a pretty good living for myself back in the late 90's. But we began to see large economic downfall back there well before most of the country got hit hard in 08'. Manufacturing plants and business began closing up shop for years before 08' which led to a mass exodus from the state by many. On top of that in the early 2000's when inflation really began to kick in I saw my three largest operating cost which were all related to petroleum began to double and triple within just a few short years. The money in that market dried up and it was no longer worth it for me to stay. So I decided to make a career change and start over in another state with a thriving market. I'm greatful that I chose to do so since I feel much better off now. But where will I run next once the entire nations economy is in the crapper?

I don't want to see business taxed to death. I just want to see some fairness for all. And no matter how you want to argue it, things are simply not equal in this country for all. If you're rich and making even more and more money by evading taxes then that's great for you but it simply isn't fair to the little guy who has no real option of avoiding them.

But like I said, taxes are simply one issue in a long list of variables that are contributing to the inequalities that we are seeing now.
 
bang guy

bang guy

Moderator
I don't think US businesses that hire US workers should be taxed at all.

I believe in a progressive tax vs a flat tax but there should be no deductions on income.
 
2quills

2quills

Well-Known Member
Progressive tax may not be a bad idea either within reason. We dont file state taxes down here. We pay through the purchase of goods. All I know is that Texas has been under republican control for a long long time and it's thriving. Complete opposite to the democratically controlled wasteland that I came from. No offense!
 
beaslbob

beaslbob

Well-Known Member
FWIW I believe that taxing one person's income at one rate and another persons income at another rate is a bill of attainder outlawed by the constitution. And a violation of the equal protection ammendment as well.
 
snakeblitz33

snakeblitz33

Well-Known Member
Here in Louisiana, your taxed on your income. Then we pay property taxes. On top of that we have to pay state and local sales taxes, even on groceries. We pay taxes on gasoline for the roadways. If your a business owner there is a whole set of taxes to pay, including a yearly tax on the equipment it takes to run your business. Even after all that tax, it still doesn't include payroll taxes taken put of our paychecks. What's sad is that Louisiana is also one of the poorer states and even though we are taxed to death, the legislature still can't balance the budget year after year. And we are a republican dominated state with a republican governor.
 
2quills

2quills

Well-Known Member
Louisiana, has only recently become republican. It's been primarily under democrat control for the last 60 years much like Michigan. And the poor statistics of its major cities mirror that of places like Detroit. They tax the heck out of their citizens as well. Wonder where all that money goes?
 
beth

beth

Administrator
Staff member
Quote:
Originally Posted by 2Quills http:///t/396747/rush-limbaugh-the-original-american-idiot/40#post_3535098
Louisiana, has only recently become republican. It's been primarily under democrat control for the last 60 years much like Michigan. And the poor statistics of its major cities mirror that of places like Detroit. They tax the heck out of their citizens as well. Wonder where all that money goes?
Obviously not in disaster preparation.
 
beaslbob

beaslbob

Well-Known Member
Quote:Originally Posted by AggieAlum http:///t/396747/rush-limbaugh-the-original-american-idiot/40#post_3535223
Here's an interesting take on this "economic equality" debate:

http://www.nbcnews.com/business/whos-biggest-barrier-income-inequality-2-percent-2D11708457

As you'all read this please keep in mind that there will always be 18% of the population making less then the rest.
Which is why billion and billions of dollars of income/wealth have been taken from successful people to fight poverty.
Meanwhile there are still 18% of the people making less then the rest.
 
darthtang aw

darthtang aw

Active Member
The tax cuts benefit the rich more than they do the lower and middle class.  They provide more "loopholes" and other tax shelters that the "common person" simply doesn't have available to them.  Look at Romney.  He's worth what, $250 million?  Yet he only claims around $100K in earned income because the majority of his assets are stashed in clever tax shelters like the Caymans.  The average person doesn't have that luxury.  The Top 10% are able to keep more cash, invest it to make even more money.  I would know this because I'm in the Top 10%.
It's a complete fallacy that someone with more wealth that gets to keep more of their money because of tax cuts will take that extra funds and re-inject them back into their various businesses.  If that were the case, why has the unemployment rate been so stagnant for the last 10 years?  If you're investing in your business, you'd need more employees to accomodate any expansions you have.  No, instead of creating new jobs, they're buying multiple million-dollar homes, private jets, and luxury vacations.  Then they continue paying their "worker bee's" a mere pittance that they can barely survive on.  The rich get richer, and the poor stay poor.
Four years into President Reagan's economic recovery, after a deep recession that drove unemployment to nearly 11 percent, the economy was growing at nearly 5 percent and monthly job creation numbers were twice as high as they are now. If trickle down doesn't work explain why the opposite policies of raising taxes on the top 1% has not had the same effect.
 
zman1

zman1

Active Member
Quote:
Originally Posted by Darthtang AW http:///t/396747/rush-limbaugh-the-original-american-idiot/40#post_3535301
Four years into President Reagan's economic recovery, after a deep recession that drove unemployment to nearly 11 percent, the economy was growing at nearly 5 percent and monthly job creation numbers were twice as high as they are now. If trickle down doesn't work explain why the opposite policies of raising taxes on the top 1% has not had the same effect.
I believe it was called Voodoo Economics:

Tax rates






Lowest Rate


Highest Rate






1981


13.825


69.125






1982


12


50






1983


11


50






1984


11


50






1985


11


50






1986


11


50






1987


11


38.5






1988


15


28






1989


15


28




Ronald Reagan:
Took office January 1981. Total debt: $848 billion
Left office January 1989. Total debt: $2,698 billion
Percent change in total debt: +218% (perhaps pumping this debt money into defence spending spurded the economy. After all, those are high paying jobs)

George H.W. Bush:
Took office January 1989. Total debt: $2,698 billion
Left office 20 January 1993. Total debt: $4,188 billion
Percent change in total debt: +55%

Bill Clinton:
Took office 20 January 1993. Total debt: $4,188 billion
Left office 20 January 2001. Total debt: $5,728 billion
Percent change in total debt: +37%

George W. Bush:
Took office 20 January 2001. Total debt: $5,728 billion
Left office 20 January 2009. Total debt: $10,627 billion
Percent change in total debt: +86%

Barack Obama:
Took office 20 January 2009. Total debt: $10,627 billion
Total debt (as of today Dec 2013): $17,237 billion
Percent change in total debt: +62%
 
beaslbob

beaslbob

Well-Known Member
VooDoo economics was the term coined by George HW Bush when running against Reagan for the nomination.
 
beth

beth

Administrator
Staff member
The glaring truth here is that no president has accomplished REDUCING the debt, only contributing to it.
 
zman1

zman1

Active Member
True. Though I get sick of hearing that Reagan was the guy.

During his tenure, taxes were raised on the lowest tax bracket and cut the highest bracket by 41.125% and at the same time the national debt rose by 218%. yep Voodoo economics.

Not sure if these two are related or not - cut the highest bracket by 41.125% and at the same time the national debt rose by 218%.
 
beth

beth

Administrator
Staff member
A sure win would be to cut the budget of government so that each year we are in the black by a healthy margin. In this way, we may actually get ahead of debt. If there is a president and Congress who will do that, I will vote for them no matter what party or affiliation.
 
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