The book Miracle at Midway includes an unintentionally amusing quote from Miller himself describing the ceremony at which he was decorated. Miller, whose spelling was a bit unorthodox, wrote about how moved he felt when Nimitz pinned the Navy Cross on his “heaving busom”.
My new plan for America, part 2, Tax reform
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Oh, my g_d! I have to go back to another string to follow this? I’ll try again tomorrow.
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. . . and apologize in advance. - Xi -
A) CC, Bill Gates got wealthy off of HIMSELF. YOU are the one who chose to spend your $ on his products.
B) Yanny, I whole-heartedly agree with your original post about the abolition of SS. However, that plan simply will not pass Congress. It can be attacked from too many angles. Liberals will complain, “O my God, if you are 54 years old right now, and you vote for Yanny for president, ( eeeeevil Yanny) you will have squandered your own money, our national treasures, killed some ANWR reindeer, supported the cause of SUV owners, ETC.” If, however, you give a longer timetable to the abolition, you could make a convincing argument to the public, and when the voters really get behind it, your Congress will be forced into passing it.
Keep up the good work.
C) Don’t get me started on how socialistic the Canadien tax system is…
D) Has anyone else heard about what Russia did this last January? They implemented a FLAT TAX. (13%!) Can you believe that!? Russia! Of all places! In another ten years, they will understand the American dream better than we can! Anyway, thier economy grew 64% in the first three months… I wonder why. (Reaganomics… which would have made the USSR collapse by '85 if the Congress had been liberal.)
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See, these tax rules are the reasons I’m moving to New Hampshire after college (no income or sales tax, plus I got family there).
I will not get a penny back on tax day. In my Parent’s tax bracket, just under 50% of my investment profit goes to Capital Gains.
If a 54 year old man stops paying social security, at the national average of 55,000 dollars a year, he save more money from taxes than he will get back from social security. Some people have to make sacrifices for our nation to work. Ask not what your country can do for you, ask what you can do for your country.
Bill Gates donated 30 Billion (yes, billion) to African aid foundations. Thats more than our Government even donates to the entire continent combined, doubled.
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:lol:
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If the government needs x amount of dollars under its current system, where are all of the tax dollars going to come from if rich pay less tax? Are you suggesting that the lower and middle class pay a higher percentage to make up for it? I thought those classes already had enough problems making it as it is.
I propose raising tax to the needed median for all. This means enough to stay on budget, but charge the same rate for all. No one will be paying more tax than when this plan started. Remember, we’re cutting our Social Security.
The way I currently see our system, the higher your class and the more wealth you accumulate, the more you have to lose. Sure the lower class get’s benefits from the government, but if things go under, they do not have as much to lose. The upper class needs the government to protect their assets and way of life.
Yanny, I cannot see where you have much to complain about. You have money to invest, (which is doing obviously well in today’s market) and you are living at home. It is not like you have a needed cashflow. .
Well first off, I’m 15 :) The reason I am bringing this up is I lost a lot of my profit to my higher tax bracket. Say I make 100,000 dollars a year. In NJ, half of that is taxed by income tax in my tax bracket. However, if I made 60,000 dollars a year, only a third would be taken away by income tax. How is this fair? Success should not be punished by high taxes. Its not an issue of my age or my economic situation. It is an issue of an unconstitutional law that should be overturned.
If you were so worried about those capital gains and having to pay taxes, you should have held onto your investment and rode the unrealized gain until you could file yourself and not under your parents. This would have saved you from paying the higher tax
I saw an oppurtunity and seized on it. My stock had a fast point gain one day, I saw it, and sold it on the spot. Holding it for another 15 minutes would of lost me money.
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The tax that really pisses me off is when you die, the government taxes you! Up to 50% of what you own! Gimme a friggin break…I JUST DIED?!!?
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:lol:
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[Evil Government]: Snickers Serves you right!
But really, I don’t plan on having much when I die.
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:lol:
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What I will say that no SS might make for good economics but bad politics. Once you accomplished this (somehow), the liberals will brand you as a thief trying to rob the senior citizens of their savings.
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No, I’m saying take the middle tax bracket and apply it for everyone. Taking away Social security will keep tax rates from getting impossibly high with this for everyone.
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Plus the fact that you will have so many more poeple paying taxes who normally don’t. Hopefully it would balance itself out in the long run. Someone would have to do the math on this one…
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:lol:
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Communist Revolution! :o
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The Average American pays about 15% of their income to Social Security per year. If the Average American works for 40 years, they put a lot of money into Social Security. However, the amount of money they get back is an incredible low number. Someone like 1/30th of what you payed.
So, would you rather put away your own money or let the Government do it and waste 29/30 of the money?
Social Security is a failing system. The longer it stays around, the harder it will be to eliminate.
Wild, explain to me why A) Social Security should stay how it is and B) Why the rich should pay a larger percentage of their money to the Government than everyone else.
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:lol:
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You will gain more on your investment if you put the money in a bank account with 1% interest than you will letting the Government handle it in the Social Security system.
These poorer people have 10 years to save up until they are 65, and most people don’t stop working at 65.
So the rich have more to loose, big deal.
Success = More Money = More money to spend. Success does not mean I owe a larger percentage of my money to the Government.
Bill Gates should be taxed what we all are taxed. If he makes 1 Billion a Year (just making the number up, easier on the math) and he pays 30% interest, he’s paying a hell of a lot more than any other citizen.
Even if the business takes up that additional 7.5%, thats less money for the worker. 7.5% adds up.
More money to the rich = More investment. More investment = companies do better. Companies do better = Everyone gets payed more.
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The Average American pays about 15% of their income to Social Security per year.
Incorrect. The average American only pays 7.5%. Since most Americans are employees of a company, the employer picks up the other 7.5%.
If the Average American works for 40 years, they put a lot of money into Social Security. However, the amount of money they get back is an incredible low number. Someone like 1/30th of what you payed.
So, would you rather put away your own money or let the Government do it and waste 29/30 of the money?
Social Security is a failing system. The longer it stays around, the harder it will be to eliminate.
I agree something needs to be done to the current system. However, scrapping it is not the correct answer. Also, I am not sure if you only receive 1/30th back of what you pay in. Numbers seem off.
Wild, explain to me why A) Social Security should stay how it is and B) Why the rich should pay a larger percentage of their money to the Government than everyone else.
As I stated above, I think the system needs an overhaul. However, getting rid of it is not the answer.
I already answered why the rich should pay a larger percentage. They have much more to lose. Who has more to lose? Bill Gates or you?
Maybe a better way to think about what money is getting taxed is to think about discretionary income. If a flat tax percentage were used, who would have a larger percentage of discretionary income left? The rich would have a larger percentage and the poor would have a much smaller percentage. The flat tax magnifies this difference even more than the current system.
Something to recognize about our current tax structure is that each level of money is taxed in groups. I am not sure what the exact brackets are off hand, but the first $20,000 of income for a lower income tax bracket individual is taxed at the SAME rate as an individual in a higher bracket. It is only the additional income that is taxed at a higher rate.
Yanny, you have still not addressed what would happen to individuals who receive SS relating to disabilities, etc. You also have not addressed how the lower class individuals are going to be able to save for retirement since they are now being taxed at a higher rate. In addition, you have also not stated how new education on investing will be funded now that everyone has to know how to invest. To many, investing is scary, complex, and time consuming. Since the government will no longer paying out SS, it has to somehow prevent people from not saving. People not investing themselves is a huge issue.
First of all, it plainfully obvious to see that a person can make a LOT more money if they used their social security money to invest. Social Security only gives a person a paltry 2% return on their money. Bah, what a waste.
Next, you still haven’t convinced me why a person with more money should pay higher taxes. Look at it this way. If Bill Gates walked into McDonalds to buy a hamburger, would you expect him to pay an enormously higher price for that burger, becuase McDonalds has to be able to give away free burgers to those who can’t afford them? It’s completely unfair. Whereas, if everyone payed the same amount for that hamburger, then the prices are cheaper and those who still can’t afford them don’t get the burger. (Figureatively, of course. :wink:)
For the disabled, that’s a touchy subject. I don’t neccessarily agree with funding the disabled. Of course I’m not referring to the handicapped or the mentally challenged, but rather the rediculous people that are considered disabled. There are fat people that are legally disabled, and a host of other rediculous qualities. I don’t agree with spending my hard earned money to fund their over-eating habits.
For the physically and mentally handicapped, however, I suggest something similar to the welfare system. Only A LOT MORE STRICT. I don’t want to see it abused the way today’s welfare system is battered.
Lastly, I think it’s within everyone’s ability to invest their money. Even putting it in the bank is considered investment. Of course it won’t yield that much in return, but everyone should be able to wisely invest their money. If you’re scared of investing, then don’t do it. I could care less if you didn’t invest. :wink:
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Bill Gates should be taxed what we all are taxed. If he makes 1 Billion a Year (just making the number up, easier on the math) and he pays 30% interest, he’s paying a hell of a lot more than any other citizen.
Even if the business takes up that additional 7.5%, thats less money for the worker. 7.5% adds up.
More money to the rich = More investment. More investment = companies do better. Companies do better = Everyone gets payed more.
Yanny, this is old school “trickle down” economics. Ronald Reagan tried this. It doesn’t work.
More money to the rich does not trickle down to the poor. That is an economic fallacy. The rich do not always invest this money, but many times just purchase items made by few people with artificially inflated value.
Also this investment might be better made by “the people”. Particularly if “the people” could spend it on products that they need. After all, that’s the more important “investment”, no? Otherwise the investment is artificial.
And again, because “Bill Gates” makes more, he requires more gov’t input - more regulation, more protection, blah blah blah, and he’s also consumed more - more education, and likely made use of other gov’t programs etc. -
@cystic:
he’s also consumed more - more education, and likely made use of other gov’t programs etc.
How do you figure? Why would you say that Bill Gates uses more gov’t programs than anyone else?
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