Federal Tax Reform is SEXY

[Dr_Flash_Amazing]

Damn you and your page top celebratory snaffles! DAMN YOU AND THEM!

[iain]

all in the wrist

[Fence_Sitter]

gawd this is great...i get home from a day at school and see a thread that i planted, grow seriosuly...i cansee where you full-right conservatives are gettin pissy about the high wage tax, but seriously like a guy who makes 10,000,000 a year is going to miss measly 3.5 mill? but seriosuly on a serious note...i wonder how much money we would save if we cut our welfare and food stamp action by 90%...seriosly i dont think any less than that are people who should actually be on it...does anyone know how much money the U.S. spends on that? i could see welfare getting cut by at elast 80% and still have the wealth re-distributed enough to keep everyone alive

[Greg_W]

quote:

---

Originally posted by iain:

all in the wrist

---

That's why DFA can't get a page top, his wrist is sore from spanking to climbing porn

[Fence_Sitter]

"i think there should be 10% income tax..."

 

quote:

---

I think FLAT TAX should be F-L-A-T! end of disscusion. And it should be more like 10% instead of 30%

---

uhm...muffy...are you feeling allright?

[sk]

why yes kiddo I feel great and you?????

[iain]

quote:

---

Originally posted by Greg W:

his wrist is sore from spanking to climbing porn

---

that's what you get for messin' with your mousing arm

[Jim]

Chuck,

 

Here's the scoop. While there are some minor tax benefits for some one earning 100k a year they are minor compared to the upper levels. Think about this .1% of the people have 16% of the wealth.

 

Besides the avoidance of the luxury tax they can take advantage of some complexities of the tax code. One instance now allows wealthy folk to avoid limits on how much they can gift to family members. It's complicated but with a knowledgable tax lawyer you can slide hunderds of thousands per year in capital gains to family.

 

So the result is lower taxes for the upper class, and that bulk of taxes is paid by the less fortuante (by birth) who can't afford the fancy tax lawyers.

[Fence_Sitter]

$3,876,680,000 is the 1997 figure i believe...we could free up $3,000,000,000 if we jsut took my formula for welfare reform...!!!

 

[ 11-14-2002, 01:35 PM: Message edited by: Fence Sitter ]

[Fence_Sitter]

quote:

---

why yes kiddo [big Grin] I feel great [big Grin] and you????? [Wink]

---

did you not notice that you took the words right form my mouth?

[sk]

Fence my boy, I see a grand career in polotics in your future "vote for me, I can make change...."

[sk]

quote:

---

Originally posted by Fence Sitter:

quote:

---

why yes kiddo [big Grin] I feel great [big Grin] and you????? [Wink]

---

did you not notice that you took the words right form my mouth?

---

Can I try that again???

[Fence_Sitter]

quote:

---

Fence my boy, I see a grand career in polotics in your future [big Grin] [Wink] "vote for me, I can make change...." [Razz] [Wink]

---

i sure hope that doesn't mean you disagree with my politics...i would think a liberal thinker like yourself would fitgreat with a righ...wait nevermind...we will never agree...

[sk]

I thought we were all here to disagree about polotics

[vegetablebelay]

quote:

---

Originally posted by Jim:

C

 

One instance now allows wealthy folk to avoid limits on how much they can gift to family members. It's complicated but with a knowledgable tax lawyer you can slide hunderds of thousands per year in capital gains to family.

 

.

---

Again untrue. There is a provision in the gifting rules for anyone that can take advantage of them which allows for accelerated gifting up to a stated maximum. In a 529 college savings plan for instance, a parent can accelerate gifting to a child for a max 6 years which allows them to gift 66000 per kid, per parent, today, without penalty. They cannot do it again next year though.

[sk]

again, call me silly, but don't you have to have money to give money???

[iain]

quote:

---

Originally posted by Muffy The Wanker Sprayer:

again, call me silly, but don't you have to have money to give money???

---

citibank doesn't think so...

[sk]

those guys call me allll the time

[iain]

quote:

---

Originally posted by Muffy The Wanker Sprayer:

those guys call me allll the time

---

but it's a "courtesy call"! they're just looking out for your best interests

[Stefan]

Me. I am ignorant.

 

I say tax the nation like they do in Washington State--by mostly a sales tax. Forget the income taxes.

 

That way if you are TRUELY POOR you will never pay taxes. If you are truely poor, you would be buying food (not taxed) and staying in an apartment or some other government subsidized living. Now if you went out and bought a FIRST DOWN jacket with your homeys then you be paying taxes.

 

The rich buy the biggest homes, and the nices cars, so in essence they would be paying a higher price. I would also have a sales tax on buying stocks, bonds....etc.

 

In addition, this sales tax thing would eliminate probably 1/2 of the IRS becuase there would be LESS PAPERWORK!!!!!

 

If you decide to not buy anything, then you don't pay taxes. If you don't buy, then you will be saving or investing......

 

Just a thought......

[Jim]

sorry veggie but you're uninformed. Using the normal gifting exmption your statement is true. But a recent wrinkle is that the lawyers are now using tax codes origninally set up for nonprofit organization expmptions to set up dummy corporations to slide in the profits.

 

It's very interesting to go into the Congressional record and look at the arguments for the exemption, and it was not the non profits who lobbied for it. Think they have any clout. I apologize for not having the tax code number to allow you to look it up on the web, but I'm at work and the info is at home. I can pass it on if the thread continues tomorrow.

[MtnGoat]

"If you say there is free childcare I expect an adress where I can drop my kids off not a theory or someones idea"

 

I never said there was free childcare, only that some demand it, proof of which I showed by presenting the green party platform. I can only answer to what I have actually stated.

[Fence_Sitter]

quote:

---

If you decide to not buy anything, then you don't pay taxes. If you don't buy, then you will be saving or investing.....

---

but...but...that is just unamerican! seriously though i liek the idea...and any way we can get rid of IRS agents...i'm all for.. i generally agree that those that spend should pay taxes as it is obvious that is you are spending you have money to burn...special considerations should be placed on certain items, like SUV's and massive taxes on cigarettes ....one tax that i ould like to see is the McDonalds' tax...for all teh fat bastards eating away medicare and whatnot...

[MtnGoat]

"Nothing could be more simple than your intense selfishness and disregard for society in general."

 

Sure there could be, the selfishness inherent in expecting other to work to serve your ends. Wanting nice things for other people, provided by still others you intend to force to pay for them, indicate *you* are so selfish others should work to pay for what you wish to support.

 

The only thing more selfish than wanting what you want, is wanting to make others work for what you want.

 

Likewise I get a kick out of your seeming assumption that your definition of society is the only one that matters. I don't remember when "society" became defined as anything more than a group of people who live in the same place or voluntarily associate.

 

I have plenty of regard for society, because my definition of a just society is freedom of each individual and folks who allow others to believe and work towards peaceful ends they define for themselves, not towards specific social goals *you* value and define for them.

 

"Am I willing to believe in a system where I contribute some of my income to the overall good of the community? You bet."

 

And I agree, we are merely arguing over specifics and I am seemingly arguing with people who see no end to what they intend to use taxation and programs to "solve". When you can articulate some limits on where you intend to intrude and how much you intend to take from people, I'll be more inclined to take a look at more options.

 

Until then, what appears to be entirely open ended and unbounded does not engender my trust that expansion of govt power will not continue indefinitely, because with each expansion comes a contraction of personal self determination.

 

"But if you honestly believe that every individual out there who is not as fortunate as you to have a home, education, etc is somehow a leech on society and is out to get you, I pity you, as that is not a fun way to live life."

 

I don't believe that at all. Only those who intend to leech are leeches. Plenty of people who do not have as much as I do not support taking resources from others. Being poor does not intrinsically indicate a political viewpoint which espouses using resources taken from others.

[iain]