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Post by Ratty on Jan 24, 2015 12:22:44 GMT
So, your government is as broke and as stupid as ours .... sigh.
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Post by glennkoks on Jan 25, 2015 14:56:46 GMT
So, your government is as broke and as stupid as ours .... sigh. I think ours is worse...
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Post by phydeaux2363 on Jan 25, 2015 15:45:32 GMT
One major problem with the US Tax Code is that politicians try to use it as a means of social engineering as opposed to revenue generation. The 529 proposal is just one of many examples of that flaw. The unintended consequence of a tax code written by easily influenced politicians and used to modify behavior is that whole groups engage in rent seeking behavior. The thing is an unholy mess now, as is the process by which the tax code is modified. I'm in the scrap the whole thing and start from scratch school of thought.
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Post by Ratty on Jan 25, 2015 21:41:47 GMT
One major problem with the US Tax Code is that politicians try to use it as a means of social engineering as opposed to revenue generation. The 529 proposal is just one of many examples of that flaw. The unintended consequence of a tax code written by easily influenced politicians and used to modify behavior is that whole groups engage in rent seeking behavior. The thing is an unholy mess now, as is the process by which the tax code is modified. I'm in the scrap the whole thing and start from scratch school of thought. With a little editing here and there, that post could be applied to Australia. Romney's 47% are alive and well here, still sucking on the public teat.
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Post by nautonnier on Jan 25, 2015 23:59:22 GMT
One major problem with the US Tax Code is that politicians try to use it as a means of social engineering as opposed to revenue generation. The 529 proposal is just one of many examples of that flaw. The unintended consequence of a tax code written by easily influenced politicians and used to modify behavior is that whole groups engage in rent seeking behavior. The thing is an unholy mess now, as is the process by which the tax code is modified. I'm in the scrap the whole thing and start from scratch school of thought. It should be possible to write an equitable tax-code on a single sheet of 'letter' format or A4 paper in 11pt. As soon as epicycles and curlicues are added and take it to several thousand sheets in hundreds of volumes it is useless.
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Post by magellan on Jan 26, 2015 0:58:17 GMT
Sig, Yes it does, but now I'm not sure if I'm stupid or too nice or just stupid. My wife and I have put money into the Washington State GET program for 14 years now. www.get.wa.gov/ Sometimes it hurt but we've never missed a payment. I'm waiting to hear back from my two senators and my Representative. President Obama's rational for eliminating the 526 is that only rich people use it. He is 100% wrong. I am not rich, by any stretch of the imagination. But we have started a 526 for each of our Grand kids. Prob won't be a lot of money, but it will be something for them when it is time for them to go to college. What President Obama doesn't understand, or chooses not to understand, is that families do this. Not just the parents, but looking at families as a whole. Obama understands everything he does. Oh he does. He is trying to eliminate the middle class despite his rhetoric. He spent the last 6 years wrecking the economy, now suddenly we see him talking about how important the "middle class" is. As for effective U.S. corporate tax rates, the U.S. is at the top of undesirable business climates. In fact, there are more businesses closing than new ones starting. Who actually pays the corporate tax? Employees and consumers. Ford Motor Company last year came to my company and dictated a 7% reduction in our pricing. First it was passed on to us, the employees, by increased payroll deductions for our health insurance and reduced salary increases. Then it was passed on to our suppliers, who passed on to their employees. Not to be undercut, GM followed suit. In the coming years, not far down the road, we will see 70's quality of automobiles returning to the American auto industry. It is all part of the cycle. I don't see how that is any different than the government coming in and confiscating wealth from the private sector, other than it is done by coercion, punishable by fines and imprisonment, rather than market pressure to compete. Those that think taxes are not high enough for corporations are not including the massive addition of regulations, fees, increases in sales taxes and a myriad of other "taxes" that weren't there before. Also, there is a difference between earnings and profits. Whatever the Obama administration says can always be considered lies and half truths. taxfoundation.org/article/us-corporate-effective-tax-rate-myth-and-fact
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Post by magellan on Jan 26, 2015 1:06:17 GMT
One major problem with the US Tax Code is that politicians try to use it as a means of social engineering as opposed to revenue generation. The 529 proposal is just one of many examples of that flaw. The unintended consequence of a tax code written by easily influenced politicians and used to modify behavior is that whole groups engage in rent seeking behavior. The thing is an unholy mess now, as is the process by which the tax code is modified. I'm in the scrap the whole thing and start from scratch school of thought. A tax credit is not a tax decrease. All Democrats talk about are tax credits, never rate decreases. I looked at my gross vs net for 2104. Anyone who says we aren't paying enough in taxes I'd like to.....well, disagree. They call EITC recipients "tax payers". It really is completely out of control. Oh, and thanks for pitching in and paying for my geothermal furnace we bought in 2010. The tax credits were well received and the unit has more than paid for itself sooner than expected.
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Post by magellan on Jan 26, 2015 1:18:05 GMT
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Post by magellan on Jan 26, 2015 1:22:49 GMT
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Post by sigurdur on Jan 26, 2015 1:25:25 GMT
Being from ND I will state it isn't nearly as bad as the above implies. Whiting Petroleum actually welcomed the decline. The CEO was interviewed last week.
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Post by sigurdur on Jan 26, 2015 1:28:04 GMT
Magellan. Aggregate spending has to be froze. Only solution. Business doesn't like an unstable environment and with current spending levels the USA is an unstable environment.
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Post by magellan on Jan 26, 2015 1:34:41 GMT
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Post by magellan on Jan 26, 2015 2:13:10 GMT
Being from ND I will state it isn't nearly as bad as the above implies. Whiting Petroleum actually welcomed the decline. The CEO was interviewed last week. The last time this happened was 2007, just before..... Looks like a hockey stick to me, and this is just month 1.
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Post by sigurdur on Jan 26, 2015 2:39:41 GMT
Don't get too shook up. The CEO STATED it was time for costs to come down and then infrastructure catch up.
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Post by sigurdur on Jan 26, 2015 2:40:25 GMT
He said in a nice way his company was tired of getting raped.
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