Obamacare Collapses In Alaska And Republicans Promptly Bail It Out.

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Originally posted by: forkushV
Gee, what happened to sales taxes. Oh, you're ultra-right-wing Heritage Foundation chart doesn't think they exist. And property taxes don't exist And state governments don't exist. And county governments don't exist. And city governments don't exist. And Social Security taxes don't exist. And Medicare taxes don't exist. And other payroll taxes don't exist.

DonDiego has a difficult time wrapping his head around the idea of a progressive sales-tax and a progressive property-tax.

DonDiego finds the task of evaluating the income taxes of all 57 states for their progressive "fairness", if any, too burdensome for him to evaluate.
Similarly DonDiego finds the task of considering the "fairness" of numerous taxes from towns, boroughs, cities, and counties just too hard; there must be several thousand of such taxing entities.

Come to think of it there's no meaningful way way to express the results of such an impractical evaluation. There's no way to apply them on a national basis. Local taxes don't apply to everyone equally.

Some States are "fairer" than others. If it's important to forkushV, DonDiego suggests he relocate to a fairer State.
And a fairer County within that State.
And a fairer Town within that County.
It'll be perfect for forkushV.
[DonDiego can't be certain, but it may well turn out that Newark, NJ is the winner for "fairness". Or Detroit, MI.]

DonDiego has changed his State of Residence many times; and when he did he considered taxes along with lots of other features of locales to which he might move - like weather and recreational opportunities, and nearby travel options. He actually likes that individual folks can make such decisions; variety offers choice; choice brings satisfaction.
Wouldn't it be terrible if every State was just another Ohio ?

Poor old DonDiego, . . . he's jes' happy to be alive. And he bears no enmity against those wealthier than he. And he doesn't pay much attention to what others pay in taxes.
Life is good.
Forkie won't answer this question. Why is the "rich guy", who's paying 100 times more than Forkie in taxes, not paying his "fair share"?

Boiler believes that Forkie, and all able bodied citizens should pay their own way. Forkie believes that lazy people should be subsidized by others.

Why doesn't Forkie pay his own way?



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Originally posted by: forkushV
Quote

Originally posted by: DonDiego
Do the Rich Pay Their Fair Share?

...
Gee, what happened to sales taxes. Oh, you're ultra-right-wing Heritage Foundation chart doesn't think they exist. And property taxes don't exist And state governments don't exist. And county governments don't exist. And city governments don't exist. And Social Security taxes don't exist. And Medicare taxes don't exist. And other payroll taxes don't exist.

As I said to hoops about his ridiculous claim, " To get to that number, I'm sure you're excluding all kinds of taxes." Nailed that one, didn't I?

And anyone who thinks the Adjusted Gross Income of the super-wealthy is anywhere near their actual income please raise your hands. And your IQ.


Quote

Originally posted by: DonDiego


When Does It All Come Tumbling Down?



Ref: federbalbudgetinpictures.com
...But with respect to "When Does It All Come Tumbling Down?", . . . poor old DonDiego reckons round about 2030 or so.
I wonder when this chart was created and what assumptions underlie it. For example...What level of Labor force participation did it assume? A big decline in that rate constantly brings into question our current low Unemployment rate. More important for this discussion is what labor participation rates were used to forecast revenues? If it's historic rates and assumes a much larger workforce paying FICA taxes then revenue may fall short sooner.

A corollary to this exists on the expense side. We have seen big jump permanent disability claims and also a big increase in those collecting Social Security at the earliest age possible....were those built into this model?

Depending on what assumptions were made on DonDiego's source's projection, we may have much lower revenues and greater/quicker expenses. So we run out of money a lot sooner. Not to worry though. We never really run out of money because we can always print more....as long as we don't run out of paper.

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Originally posted by: IndyBoilerman
Forkie won't answer this question. Why is the "rich guy", who's paying 100 times more than Forkie in taxes...
You mean the wealthy guy in Texas who pays one-fourth the tax rate of the middle class? If you don't get it now you never will.

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Originally posted by: DonDiego
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Originally posted by: forkushV
Gee, what happened to sales taxes. Oh, you're ultra-right-wing Heritage Foundation chart doesn't think they exist. And property taxes don't exist And state governments don't exist. And county governments don't exist. And city governments don't exist. And Social Security taxes don't exist. And Medicare taxes don't exist. And other payroll taxes don't exist.

DonDiego has a difficult time wrapping his head around the idea of a progressive sales-tax...
Easy. How about eliminating or slashing the sales tax rate, and adjusting the state income tax in a flatter and revenue neutral manner.

Since unlike DonDiego I am not the expert at all things, I cannot say if that is good policy. But the idea that high sales tax rates and low income tax rates are somehow "baked in" to our state and local taxes is just silly. They can be changed, and in cases where the wealthiest Americans pay one-fourth the tax total state and local tax rate of the middle class, they should be.
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Originally posted by: hoops2
The top 1% currently fund 50% of the govt. forky doesn't think that is enough. How much should they fund?

A number of years ago the feds that it would be a good idea to put in a tax on luxury boats (however the their definition of luxury pricing was fairly low), thinking that the rich could afford it.

The rich stopped buying boats, the industry collapsed, putting thousands of middle class boat employees out of work. The tax was eventually cancelled and the industry came back


It didn't just effect boats, in Indy the tax damn near broke the back of the RV industry as people were not buying those $300,000+ RV's anymore.
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Originally posted by: forkushV
Easy. How about eliminating or slashing the sales tax rate, and adjusting the state income tax in a flatter and revenue neutral manner.

Since unlike DonDiego I am not the expert at all things, I cannot say if that is good policy. But the idea that high sales tax rates and low income tax rates are somehow "baked in" to our state and local taxes is just silly. They can be changed, and in cases where the wealthiest Americans pay one-fourth the tax total state and local tax rate of the middle class, they should be.
Hmm, . . . forkushV states that sales taxes should be slashed and state income-taxes flattened.
[DonDiego is puzzled; doesn't a "flattened" income tax lower the rate on the wealthy? With sales-taxes slashed, wouldn't the income-tax rate heve to rise significantly? Or is that, in fact, what forkushV proposes?]
Then, after providing a policy, . . . forkushV states that he is not an the expert and can't say what's a good policy, unlike poor old DonDiego. DonDiego must humbly object, as he is not an expert either.

What DonDiego recognizes is that the citizens of each State have a say in how they prefer to be taxed. They may express their preferences by communicating to their legislators and Government executives and eventually by voting for those with whom they agree and against those with whom they disagree. Or not, as they choose. Or they may choose to adopt forkushV's plan whether it's any good or not.

As DonDiego is not an expert, unlike forkushV who proposes a "solution", DonDiego says let it all remain a State matter. Let States be different; let States experiment. Let citizens choose in what state they wish to live based upon their preferences.
Maybe DonDiego likes living in a State with a high sales-tax and a low income tax. Maybe forkushV likes living in a State with a low sales-tax and a high income-tax. Why can't they both be happy.

DonDiego's not telling everyone what tax system to live under. Why is it that the Left always wants to do something and make everything the same, make everyone live under the same rules.

DonDiego like variety. The Founding Fathers did too; that's why they authored the Tenth Amendment.

By the way, . . . if forkush really wants to help his fellow citizens, DonDiego suggests writing a check payable to the Bureau of the Public Debt and sending it to:
Attn Dept G
Bureau of the Public Debt
P. O. Box 2188
Parkersburg, WV 26106-2188
The money will be used to pay down the National Debt. And it's tax deductible ! ! !
[DonDiego suggests forkushV's check be big enough to register, at least as a blip, on the ever-rising National Debt Chart.]
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Originally posted by: alanleroyII
Depending on what assumptions were made on DonDiego's source's projection, we may have much lower revenues and greater/quicker expenses. So we run out of money a lot sooner. Not to worry though. We never really run out of money because we can always print more....as long as we don't run out of paper.

DonDiego concurs with alanleroyII's observation. He, likewise supposes the chart pretty much represents a best-case scenario.

However, if DonDiego may offer a slight correction, the money-printers needn't worry so much about running out of paper as long as there's sufficient ink to print additional zeroes.


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