djAdvocate
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Post by djAdvocate on Aug 10, 2011 18:29:52 GMT -5
Oh I see, another liberal bashing democrat bashing thread. Ho hum. SSDD. Tell me, do you guys ever get board of beating the same dead horse? That thing reeks at this point. at this rate we can all eat horseburgers.
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handyman2
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Post by handyman2 on Aug 10, 2011 19:55:43 GMT -5
Raising taxes can bring in new revenue. However there can be a down side. I read the other day two companies that employee about 250 people altogether are leaving the area due to the tax base. I am looking for the article and will post it if I can find it. Now how much income did the city and state lose due to this move. No more revenue from the company or the employees, not to mention that Illinois will pay unemployement to the laid off workers. Yep high taxes generate income alright.
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djAdvocate
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Post by djAdvocate on Aug 10, 2011 21:54:28 GMT -5
Raising taxes can bring in new revenue. However there can be a down side. I read the other day two companies that employee about 250 people altogether are leaving the area due to the tax base. I am looking for the article and will post it if I can find it yeah, please do. i want to read it.
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2kids10horses
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Post by 2kids10horses on Aug 10, 2011 23:41:42 GMT -5
lungrot,
Back in the days when I had a salaried job, and when there were lots of tax brackets, I can remember being really excited when I earned a raise.
And then, two weeks later, I became really depressed when I saw that much of that raise disappeared immediately because it pushed me into a higher tax bracket, so I didn't really get much out of it.
I can remember several of my friends lamenting that when they got married, their combined incomes now pushed them into higher brackets. (The marriage penalty.)
Wrap your head around this idea:
How about we turn progressive tax rates upside down. Make it more advantageous to earn more! So, it you make minimum wage, your tax rate is 50%!!!! If you make more than min wage, those earnings are taxed at 40% up to a certain dollar amount. THen, above that, taxes are 30%. People would have an incentive to earn more!
With a system like that, no one would want to be a minimum wage earner! THey'd pay attention in school, so they could learn how to avoid being minimum wage earners.
Instead of creating a welfare state, we could create a riches state!
I know it's preposterous and would never happen. But, you have to admit it would do wonders to motivate the masses!
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jkapp
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Post by jkapp on Aug 11, 2011 8:18:34 GMT -5
same difference. they cut revenue by cutting taxes- specifically income taxes. The fact that people still can't discern the lack of difference between "taxes" and "revenue" is a singular indicator of how we ended up in this economic pit of despair. no, the fact that some people don't seem to get that cutting taxes doesn't balance budgets is why we are in the mess we are in. it is a pity that most people have such a poor sense of economics that they fall for such nonsense. but clearly they do. No, nonsense is believing lesser deficit spending is somehow better than greater deficit spending...that somehow cutting $200B off of a $1.6T defiicit somehow lessens our debt. THAT is how we ended up in the economic pit of despair.
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jkapp
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Post by jkapp on Aug 11, 2011 8:21:08 GMT -5
Ah...another liberal progressive who believes no one actually OWNS the money they earn - it is community property, and the community should be the ones who own it and will distribute what they feel you deserve. Nice and dangerous philosophy if I ever heard one.
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jkapp
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Post by jkapp on Aug 11, 2011 8:24:59 GMT -5
Oh I see, another liberal bashing democrat bashing thread. Ho hum. SSDD. Tell me, do you guys ever get board of beating the same dead horse? That thing reeks at this point. Hey, after 10 years of Bush/Rep/Conservative bashing by you and others with your similar ideology, you just become used to dead horses being beaten...
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djAdvocate
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Post by djAdvocate on Aug 11, 2011 11:42:57 GMT -5
lungrot, Back in the days when I had a salaried job, and when there were lots of tax brackets, I can remember being really excited when I earned a raise. And then, two weeks later, I became really depressed when I saw that much of that raise disappeared immediately because it pushed me into a higher tax bracket, so I didn't really get much out of it. I can remember several of my friends lamenting that when they got married, their combined incomes now pushed them into higher brackets. (The marriage penalty.) Wrap your head around this idea: How about we turn progressive tax rates upside down. Make it more advantageous to earn more! So, it you make minimum wage, your tax rate is 50%!!!! If you make more than min wage, those earnings are taxed at 40% up to a certain dollar amount. THen, above that, taxes are 30%. People would have an incentive to earn more! With a system like that, no one would want to be a minimum wage earner! THey'd pay attention in school, so they could learn how to avoid being minimum wage earners. Instead of creating a welfare state, we could create a riches state! I know it's preposterous and would never happen. But, you have to admit it would do wonders to motivate the masses! the architects of this system decided that it would be fairer to tax disposable income than gross income. that is how graduated rates came to be. the idea is that you need a certain amount of income just to LIVE, and that anything above that is "gravy". it made sense then, and i think it still does.
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djAdvocate
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Post by djAdvocate on Aug 11, 2011 11:44:11 GMT -5
no, the fact that some people don't seem to get that cutting taxes doesn't balance budgets is why we are in the mess we are in. it is a pity that most people have such a poor sense of economics that they fall for such nonsense. but clearly they do. No, nonsense is believing lesser deficit spending is somehow better than greater deficit spending...that somehow cutting $200B off of a $1.6T defiicit somehow lessens our debt. THAT is how we ended up in the economic pit of despair. well, that is certainly not my problem. i know that reducing the deficit is not reducing the debt. it is a step in the right direction, tho.
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