1979 tax burden = bottom 40% paid 50% of the tax

Tokenconservative · #**101** (**permalink**) 01-09-2008, 11:48 AM

Quote:

Originally Posted by satv365

You Ignore the key areas of my arguments. Or else you brush them off.

The Federal Reserve has nobody holding it acountable for it's printing of money. It does, print way too much money than is needed for the economy. Thus decreasing the Dollar's value.

The only way, for inflation to come under control is to get rid of the Federal Reserve and either...

Put limits on the amount of money allowed on Cirrculation.

Or back it with a solid commodity.

Weve also been over this depression crap before. I have pointed out the Federal Reserve was the sole culprit behind the Great Depression. I guess FDR fixed it all when he criminalized the ownership of Precious metals?

You need to look at the whole picture. Something I doubt you will. Till then, I guess Ill just disagree with you.

I'm sorry....what inflation is that, again?

Tokie

satv365 · #**102** (**permalink**) 01-09-2008, 12:33 PM

Quote:

Originally Posted by Tokenconservative

I'm sorry....what inflation is that, again?

Tokie

The 5% inflation that is sucked away from the Dollar's Value each year. A constant inflation rate kept by the Fed.

Weve gone over this.

I guess your an inflation denier, now too.

#**103** (**permalink**) 01-11-2008, 01:12 PM

Quote:

Originally Posted by StormanNorman

You're right, Tokie....they are not.....perhaps, I should've said that, but I was in a hurry. The point is that if you convert everything to real dollars...say FY2000 dollars, then the prices will be more or less the same....some higher, some lower. And all of the data that I presented where I compared things from different years were in real dollars....and I've said that about 20 times now. You keep claiming that the data is wrong because costs have dropped and wages have risen, but when you convert to real dollars, that's all rolled into the computations. Do you agree?

Tokie, I've never claimed it was gloom and doom. It is what it is.....information. I posted the information for two reasons:
1) Correct Gix's statement which was clearly wrong. Maybe he misspoke, but, regardless, it needed correcting.
2) Gix and others constantly claim that things are getting worse and worse for the upper classes and unfairly so. But, if you look at the numbers, it simply ain't so.

I can't imagine raising taxes to the 80% level would do much good at all, Tokie.

how can you say that when the rich are paying more and more taxes? most people don't pay any taxes.

StormanNorman · #**104** (**permalink**) 01-11-2008, 01:45 PM

Quote:

Originally Posted by Unregistered6

how can you say that when the rich are paying more and more taxes? most people don't pay any taxes.

Hi Unregistered,

The wealthy have been paying a larger and larger portion of the total income taxes, but, at the same time, they have been receiving a larger and larger portion of the total income. This makes some sense at income taxes are based on a percentage of the income. The larger portion of income more than offsets the larger portion of income taxes as they have been getting a larger and larger share of the after-tax income.

Your second statement is not true.....not by a long shot. If you look at the IRS data, there are quite a few people in the lower income brackets paying taxes.

http://www.irs.gov/pub/irs-soi/04asastr.xls

satv365 · #**105** (**permalink**) 01-11-2008, 01:48 PM

Solution to all this arguing.

Cut the size of Government and get rid of the Federal Income Tax, and replace it with nothing.

Not a fair tax
Not a black tax
Not a higher import tariff

Replace it with nothing. That way Government will have to rethink when a congressman is considering wasting a billion or two each year on pork projects.

Starve the beast, so to speak.

StormanNorman · #**106** (**permalink**) 01-11-2008, 01:53 PM

Quote:

Originally Posted by satv365

Solution to all this arguing.

Cut the size of Government and get rid of the Federal Income Tax, and replace it with nothing.

Not a fair tax
Not a black tax
Not a higher import tariff

Replace it with nothing. That way Government will have to rethink when a congressman is considering wasting a billion or two each year on pork projects.

Starve the beast, so to speak.

Well, I don't know, satv....there is clearly waste and I think the amount of waste is proportional to the size of the beast. But, obviously, what you are proposing would take a great deal of thought....so much so that it's not very realistic.

satv365 · #**107** (**permalink**) 01-11-2008, 03:28 PM

Quote:

Originally Posted by StormanNorman

Well, I don't know, satv....there is clearly waste and I think the amount of waste is proportional to the size of the beast. But, obviously, what you are proposing would take a great deal of thought....so much so that it's not very realistic.

Not a whole lot of thought behind the implementation of this. If you cut the amount of money Government can take from the people. Or deny there assumption that our Wages and Labor are property of the Government. You force them to cut waste.

The Federal Income Tax is not the supporter of Federal Government. If you read into it, it amounts to only 1/3 or less of the Federal Government's total revenue. Eliminating it would put the Government at revenue levels about the same as when Clinton was in office.

My belief is that only Corporations and Trusts should be taxed on Income. That would be a great way to pay for Social Security even. If Corporate income taxes went directly into Social Security. Let us also make Social Security voluntary, thus decreasing the amount needed to fund it.

I could go on, but there is only one way to shrink Government, nowadays. Take from it the very thing that fuels its red tape, deficit spending and such....

The willingness of Americans to surrender there wealth and labor to Government.