| Re: Th,Th, Thursday Chat 03.29.12 |
Subject: Re: Th,Th, Thursday Chat 03.29.12 by bogus on 2012/3/29 17:51:33 Hm... taxes and politics... I love how people still make assumptions about taxes to parties. The GOP is so determined to cut taxes that they will bankrupt the middle class to do it. And no matter how bad we think it is here, in many of the European nations, I don't know how they sustain the business model... Talking to a cab operator in Holland, he had to pay some $1300 a quarter in road taxes, some chunk for annual ownership tax on his cab and other fees. When it's all said and done, some 50% goes to taxes. In some countries, you get good retirement plans and health care, in others, you get austerity programs and defaults. I just don't see how that can exist with any kind of profit motive. Considering, with proper tax preparation, most folks are only going to pay about 15% in income tax. Sure, we have state taxes, and sales taxes and such, but when all added up, they don't max at much more than 25%... because your state tax is based on your income less federal. And in most states, if not all, your property taxes are deducted before you pay your federal... so there really isn't a "double tax" going on... in a way. What bothers me is the concept of supply side; where the wealthy pay little to use their wealth to stimulate downward through reinvestment. History has shown it not to work that way. In theory, sounds great, in practice, not so much. I feel that Warren Buffet is dead nuts right when it comes to the concept behind a billionaire tax. The middle class been getting raped long enough. |
