Posted on 11/09/2018 6:13:11 PM PST by mdittmar
I love the federal government over reach and no one slaps this guy down. WTF in the constitution can congress do this?
The socialist POS has contempt for new labor.
GTH, Sanders — you ignorant jackass.
The pattern is lining up for a replay. The difference is this time the national debt exceeds $21 trillion instead of $9.5 trillion at the start of Obama's term. There is no slack to support a huge class of unemployed.
Point of order question: If the bill raises revenues I thought it must originate in the House. Raising minimum wage is a backdoor revenue increase; not only do the people pay more in taxes but also union contracts tied to minimum wages also increase potentially pushing people into higher tax brackets or, worse, into the Alternative Minimum Tax category.
I know it’s a stretch of an argument, but still...
I have a minority opinion on taxes, I think that it is immoral to tax wages. It is our very nature as humans to work to provide for ourselves and our families. Even before currency existed, people had to work as serfs and barter for sustenance. Before that we hunted and gathered. Taxing labor is insidious, contrary to human nature, and as you said makes providing for families more difficult. We have to work 1/3 to 1/2 the year just to cover taxes.
From the economic standpoint, wages only account for about 30% of income to the federal government. Another 25% of spending is financed through debt. About 45%-50% of federal revenues are raised through other forms of taxation separate from wages - tariffs, capital gains taxes, other fees and licenses.
My opinion is that we should stop taxing wages and stop borrowing and just print the money. This will of course cause some inflation. But that is good and bad. On the bad side, it punishes savers. However that can be offset through compensation.
But my main argument is that inflation impacts everyone. Right now with nearly 1/2 the population paying no taxes, they don’t care what the tax rate is. The politicians use the taxes to divide us and demagogue - let’s take that power away from them. Most importantly, it makes everyone invested in how money is spent. When the cost of bread and milk rise, everyone has a stake in it and everyone will demand fiscal prudence to keep inflation in check.
I know it’s a longshot argument and outside the Overton Window. And it has some downsides which need to be managed. But overall vesting every American into the way money is spent and government manages things in general would be a net positive for efficient and prudent management of spending.
The new tax laws with Corporations paying 20% top rate is going to make entrepreneurs think differently about taking all their profit as personal income via an LLC or S corp. that’s going to change the way entrepreneurs pay themselves and finance (and deduct/expense the cost of) business property - further reducing federal income from wages in the future. As a % of federal income wages will become an even smaller portion than it is today. Why pay a max rate of 39% as income if you can leave it in your corporation(s) and pay a max rate of 20%?
* this post is for entertainment purposes and not to be considered tax or legal advice :-)
Voted for him or not. “We” are still all in this together. and the sooner you realize YOU are part of “we” the sooner “ we” can become a united states again. Us and them isnt a way to live. its “We”. unless “you” want to keep fighting instead of uniting. I stand behind my comment 100% because WE are all in the same boat. even those who are punching holes in the bottom of the boat trying to sink us all for their own nefarious reasons. We need to fix the holes and stop the hole punchers by converting some of the hole punchers to Hole fixers. pointing fingers and calling names doesn’t will friends or influence enemies.
If you grew up with the Beatles but also liked the Cars and Meat Loaf as your homepage says, does this mean you are about 60 give or take a few years? I’m 72.
I saw the Beatles in concert, and also Howlin Wolf,Muddy Waters,Jimi Hendrix,Cream and the acoustic only Bob Dylan which fewer people are around to say, sadly. Funny how each of us says the golden age of music was performed during their teens through 30.
The people here are on FR the absolute best in a lot of ways including patriotism and politics. I am humbly thankful to be in the same boat here.
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