Social Security Funds

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major_bob
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Post by major_bob »

joshh wrote:I agree completely, they deserve to pay the same rate as me. Too bad their tax rate is 15% or less and mine is 25% or more.
If you have been paying attention to recent news the top marginal tax rate has just been increased to 39%. If you believe it is 15% then you are confusing regular income (salary) with capital gain and dividend income. The reason capital gains and dividend income is lower is two-fold. First is to encourage people to invest (which creates jobs and pumps more into the economy). Second is the fact that the money originally invested as already been taxed as income once. In other words: I get paid a salary on which I pay regular income taxes. I take what is left and invest it. The earnings on that investment are taxed at the lower rate.

The other way the "rich" may reduce their effective rates to 15% is by charitable contributions. You can also lower your 25% rate by giving half of your income to the charity of your choice.
Bob
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dusty
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Post by dusty »

Ed in Tampa wrote:Why take funds from the rich to make up for bad decisions of the past. Everyone had their head in the sand when it was taking place so it is eveyone's problem.

What need to be done is the media needs to list every company that has taken jobs out of this country and then the American public needs to boycott them. Also the media should also list every American Company that got rich because of a legislative PORK and again every American should boycott them.
YOu know what our deep thinking American public will ignore it all and still shop price.
It all comes back to GREED and we are all guilty of it in one way or another.
I'm sure that I do not follow this logic. If I have it right, your solution would be to "close down" (you said boycott which would have that effect) those companies that are still paying wages here in the US and that will help solve the problem.
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major_bob
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Post by major_bob »

Ed in Tampa wrote:I know, I know oh let me answer, I know. :D
The jobs are all overseas because the rich aren't happy with billions, they believe they need 10's of billions.
I saw a $150 million dollar private yacht on TV today. Do you realize just to take it for a day cruise cost more than most of the middle class America makes in a year.
Is that perhaps just a little excessive? How about you only buy a $10 million dollar yacht and bring the jobs back to this country.

We are back to my word again GREED!
What about the jobs involved in building, maintaining and operating the yacht ?

The issue of shipping the jobs overseas is, quite honestly, mostly a myth and not really the scope of this thread.
Bob
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benush26
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Post by benush26 »

joshh wrote:I agree completely, they deserve to pay the same rate as me. Too bad their tax rate is 15% or less and mine is 25% or more.
There was a point in the early 90s when a proposal for the rich and less than rich to all pay the same rate. It was called a flat tax (sometimes fair tax) and has been explored in this forum before.

It was touted by Newt Gingrich and a few others when the wealthy were still paying a large percentage of income and dividends into the federal coffers. It was seen (by the wealthy), as a way to reduce their tax burden while not trying to manipulate the IRS codes (aka paying expensive lobbyists) and appealed to those more interested in reducing the size of government. It is possible that if enacted it could have eliminated the IRS.

Unfortunately we have long since passed the point where the amount of tax collected could match the amount spent, let alone try and repay that which was taken from SSA and other entities.

We and others can argue as much as we want about who spends and spent what, the problems caused and future ramifications, but it's virtually impossible to get that water that has gone over the dam and no magical spell is going to get it back.

Governments (federal, state and local) will tell us that everyone has to do and pay their share, tighten their belts and blah de blah de-friggin blah. It's a rhetoric spouted by those who have not a clue and probably never will.

Is there a solution to not paying higher taxes and not funding pork and to giving people a living wage and providing affordable decent health care? Sure. It just takes a concerted effort to kick out those that say they can, when all they really can do is line their pockets.

Make politicians and judges accountable for the decisions they make. get people who have had to work for a living to run for public office.
Term limits is not a solution, but a poorly constructed eye patch. Keep those that truly make the world a better place and send those that don't, down the road. If after a single term an elected politician is not doing a good job for the majority, find someone YOU know and convince them that they are needed in that spot and then help them get elected! Money gets lazy people elected, but grassroots campaigns get qualified people elected. If a person is the best then red nor blue nor green makes a difference (except those not smart enough to know the difference).
We as a society need to stop electing a party and instead elect a PERSON!!

If a politician gets less than 70 percent of the vote then challenge every decision they make. A politician that gets 50 percent of the vote by those that voted (not really 50 percent of the people), it means that they were chosen by a coin flip. Not my idea of a strong endorsement. No politician is ever going to make everyone happy. We live in a society of diversity. But we can hold them accountable for each and every decision.

While we still have the First Amendment, follow the lead of those that were speaking the loudest as I was in college... "Question Authority!" Personally I think it should have been "Question those who tell us they know what's best for us." When people start telling me that they know what I want (especially without asking), it's time for me to tell them that their opinion is no longer accepted.

Look at all the energy that the members of this forum have expended presenting opinions. What if that energy was directed at solving problems rather than just rehashing them!!! Without trying to be dramatic, there is a great deal of wisdom written by the members of this site and it seems a shame if all of that wisdom gets left here.

Wishing you and all those those in your world, wellness, wealth (in its MANY forms) and the continued freedom to speak your hearts and minds.

Ben

Dang I'm long winded!! but when I get on a roll...:eek:
Gene Howe
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Post by Gene Howe »

It matters not a whit to me how much anybody makes in salary or however they accumulate their money. Nor do I care that they hire accountants and lawyers to find the loopholes in the tax laws so they can pay a less %age. Were I in their shoes, I'd do the same.
Of course, I'd prefer that every person who earns money, is given money or other wise obtains money (legally or otherwise) pay taxes. It would seem that a VAT in combo with a minimal flat tax would insure that everyone would pay something.
It's my firm belief that we'll never such a system, however. It would mean that governments would have to relinquish too much control. They will never allow that.
Gene

'The true soldier fights not because he hates what is in front of him, but because he loves what is behind him.' G. K. Chesterton
major_bob
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Post by major_bob »

Ed in Tampa wrote: What need to be done is the media needs to list every company that has taken jobs out of this country and then the American public needs to boycott them. It all comes back to GREED and we are all guilty of it in one way or another.
Yeah, and while we are at it we should insist that Toyota, Honda, BMW, Mercedes, Shell Oil, BP Oil, Michelin, Renault, Fiat, Glaxo, Maybelline and all those others take their jobs back to Japan, Germany, Great Britain, France, Italy or where ever they came from !
Bob
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pennview
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Post by pennview »

Originally posted by major_bob:

Yeah, and while we are at it we should insist that Toyota, Honda, BMW, Mercedes, Shell Oil, BP Oil, Michelin, Renault, Fiat, Glaxo, Maybelline and all those others take their jobs back to Japan, Germany, Great Britain, France, Italy or where ever they came from !


Thank you. I'm still chuckling.
Art in Western Pennsylvania
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dusty
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Post by dusty »

major_bob wrote:What about the jobs involved in building, maintaining and operating the yacht ?

The issue of shipping the jobs overseas is, quite honestly, mostly a myth and not really the scope of this thread.
Yup, you are right on there. In fact, most of this is not within the scope of this thread.:rolleyes:
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major_bob
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Post by major_bob »

dusty wrote:Yup, you are right on there. In fact, most of this is not within the scope of this thread.:rolleyes:
Hey, you started it ! :D
Bob
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dusty
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Social Security Funds

Post by dusty »

Yup, I did. The title was "Social Security Funds".

These funds are important to me because they make up a great deal of what I subsist on. I contributed into these funds, not because I chose to do so, but because I wasn't given a choice. I was led to believe that they were part of what I could plan on having in my "Golden Years" so shut up and contribute. Well, those Golden Years are here.

Now they are talking about the funds being "All Gone" while at the same time calling them "entitlements" and labeling me (and others like me) as takers because we depend on them.
"Making Sawdust Safely"
Dusty
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