PLANO Account Talk

[burrocrat]

In my case everything is paid for, no dependents, although my Daughter and Grandson live with us, no medical no deductions so I must take the Standard Deduction, yes I pay taxes.View attachment 37376

is she as cute as you are?

 

[nnuut]

is she as cute as you are?

I have 3 Daughters and they're all knockouts, just like their Mother.

 

[PLANO]

I don't want my personal thread to get moved into Politics, but it is a very real and dangerous problem when half of a nation is relying on the other half of the nation to pay for everything (everything that the government provides). Raise taxes? No. But I agree there are too many loopholes and subsidies to high income brackets and too many rebates to people who aren't even working. I think its ridiculous when a person can be unemployed all year, file a tax return and get money back. I also think its ridiculous when wealthy farm industries get paid tax subsidies to grow corn for ethanol, a substandard fuel that until recently required more than one gallon of gas to produce one gallon of ethanol.

I believe what began as a legitimate tax policy for government, to provide incentive for business investments which in turn should create more rapid job growth in the private sector, has become so manipulated and perverted that we now have a tax code that is thousands of pages deep. It's crazy. Should we look at taxes on capital gains? Probably. But I think the bigger problem that we've seen over the last generation is we've become a me vs. them country. Half the people aren't in the game, but they still want their stuff, whether their stuff is a little or a lot. And they keep voting for candidates on both sides who will keep giving it to them...for a vote.

I believe we would be much better off if we killed the federal income tax, reduced the size of the IRS by 90%, and implemented a consumption tax on purchases, collected at the point of sale. Everyone buys stuff so everyone would be contributing to the country. Low income brackets buy less each year, so their tax burden will be lower (with some basic need items not taxed for the very poor). High income brackets buy all sorts of things...big things...crazy expensive things...so their tax burden will be much higher. It won't matter that they got their money from investments, it only matters that they choose to spend it, which they will.

Oh, and about that federal income tax, it's only been around for a hundred years. Our country has still spent more of its time without a federal income tax than with one. But that's another problem we have, we don't know (we don't teach our kids) who we are or who we used to be any more. We've lost our identity to some degree. We used to riot and wreck ships over a small tax on tea. Now we just want our stuff.

 

[nnuut]

I agree with the exception of the Value Added Tax, it can get out of hand with a vote in Congress and in the end we would be paying more for all commodities, ask the British how they like it.JMHO!

 

[PLANO]

I agree with the exception of the Value Added Tax, it can get out of hand with a vote in Congress and in the end we would be paying more for all commodities, ask the British how they like it.JMHO!

I don't really disagree...but isn't that how our income taxes get raised now, with a vote in Congress? I agree it would not be a simple fix, there would be many hurdles to think through to prevent big purchases outside the country, etc. And I'm no tax expert. I just have to believe it would be so much better than what we have now and it would get everyone in the game. I just think taxing income is counter-productive and it either encourages people to cheat/hide income/lobby for new loopholes, or it encourages other people to just not work, or work less than they should be working.

 

[nnuut]

A true VAT includes everything businesses buy and will force them to raise prices and pass it on to us who will pay a higher tax on what we buy, and that ain't all. It's a Progressive Tax and I really don't like that word.

 

[PLANO]

Happy Easter to everyone at TSP Talk!

He is Risen! He is Risen indeed!

 

[DreamboatAnnie]

Amen!! Happy Easter to you and everyone!!! :smile:

 

[alevin]

He is risen indeed. Amen.

 

[PLANO]

Don't mind me, just blowing the dust off my thread. Here's a funny song

 

[nnuut]

One of my favorites, The Sound of Silence!

 

[PLANO]

One of my favorites, The Sound of Silence!

Haha, yeah I hate when people take the video down right after I share it

 

[nnuut]

I hate that!!