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Thread: The Tax Thread

  1. #248
    BamaNation All-SEC
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    Re: The Tax Thread

    If government waste was completely eliminated I think we would still run a deficit because of the amount spent on social security, medicare, defense, and interest is much bigger than tax revenue. So, while we certainly need to get rid of waste, you also either have to increase taxes or break the promises the government has made to people about services they will provide if they pay taxes.

  2. #249
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    Re: The Tax Thread

    Quote Originally Posted by Bodhisattva View Post
    And you would be the first to read it, right?
    Why don't y'all make a deal and include Charmin in on it. You'll release your paper with your findings and 92 and Charmin can start sending in extra income taxes above and beyond what they owe. That way both parties are putting their money where their mouth is. Y'all keep us updated on how that goes.

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  3. #250

    Re: The Tax Thread

    Quote Originally Posted by uafanataum View Post
    If government waste was completely eliminated I think we would still run a deficit because of the amount spent on social security, medicare, defense, and interest is much bigger than tax revenue. So, while we certainly need to get rid of waste, you also either have to increase taxes or break the promises the government has made to people about services they will provide if they pay taxes.
    Trim 10% off last year's budget and you're already in the black based on federal tax revenue vs federal spending in 2018.

    Yes, we likely need more revenue, but like any other situation - trim the fat first. You can only leach so much from people before they find ways to avoid it.
    Oderint dum metuant - Lucius Accius

  4. #251
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    Re: The Tax Thread

    I think it is a fair take to say that our national budget is misallocated in some areas, wasteful in others, but also lacking in a few critical areas. We almost certainly spend too much on defense but so much of the government subsidization of middle class employment comes from that public-private interaction of defense related contracting. I don't know how to start untangling that mess while not destroying entire communities like Huntsville. It requires big, thorough planning that transitions stuff away from strictly defense research, development, and production to a mix of domestic public works and defense.
    Last edited by rgw; February 16th, 2019 at 11:12 PM.
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  5. #252
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    Re: The Tax Thread

    I can't help but laugh at the people who, out of one side of the mouth, complain about the reduced size of this year's tax refund.

    Then, out of the other side of the mouth, rail against the budget deficit.

    Apparently, there's a sizeable portion of the voting populace that believes in Santa Claus.

    A lot of people have more in common with Alexandria Osario Cortez and Corey Booker than they would like to think.
    You can't reason a man out of a position he didn't reason himself into.

  6. #253
    Senior Administrator TIDE-HSV's Avatar
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    Re: The Tax Thread

    Hmm... Reuters
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

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  7. #254

    Re: The Tax Thread

    Quote Originally Posted by TIDE-HSV View Post
    Hmm... Reuters
    From the article:
    According to the poll, about 33 percent of Republicans said they would pay less tax; 17 percent said they would pay more.

    Among Democrats, about 8 percent said they would pay less; about 45 percent said they would pay more.
    That's fascinating - could the tax plan have been designed for this purpose? If so, how?

    Or are these people lying simply to skew the results?
    Oderint dum metuant - Lucius Accius

  8. #255
    BamaNation Hall of Fame CharminTide's Avatar
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    Re: The Tax Thread

    Quote Originally Posted by crimsonaudio View Post
    That's fascinating - could the tax plan have been designed for this purpose? If so, how?
    The very next paragraph offers one possibility:

    "The $10,000 cap imposed on the deduction of state and local taxes, which was previously unlimited, has been seen having the greatest effect on taxpayers in high-tax states, including New York, New Jersey, Illinois and California, which are all largely Democratic."

    The results probably depend a lot on the location of the respondents and how their employers interpreted the IRS withholding recommendations.
    Last edited by CharminTide; March 15th, 2019 at 07:28 PM.

  9. #256
    Senior Administrator TIDE-HSV's Avatar
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    Re: The Tax Thread

    Quote Originally Posted by crimsonaudio View Post
    From the article:


    That's fascinating - could the tax plan have been designed for this purpose? If so, how?

    Or are these people lying simply to skew the results?
    I think Tidewater characterized it best when he called it "weaponizing the tax system"...
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

    'If today were the last day of my life, would I want to do what I am about to do today?' - Steve Jobs

    I would rather live my life as if there is a god and die to find out there isn't, than live my life as if there isn't and die to find out there is. Albert Camus

    "When Fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

  10. #257
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    Re: The Tax Thread

    Quote Originally Posted by 4Q Basket Case View Post
    I can't help but laugh at the people who, out of one side of the mouth, complain about the reduced size of this year's tax refund.

    Then, out of the other side of the mouth, rail against the budget deficit.

    Apparently, there's a sizeable portion of the voting populace that believes in Santa Claus.

    A lot of people have more in common with Alexandria Osario Cortez and Corey Booker than they would like to think.
    Santa Claus? You think tax refunds are some kind of handout?

  11. #258
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    Re: The Tax Thread

    Bump. Still waiting for an answer explaining how people wanting a refund equates to believing in Santa Claus.

  12. #259
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    Re: The Tax Thread

    Quote Originally Posted by rgw View Post
    I think it is a fair take to say that our national budget is misallocated in some areas, wasteful in others, but also lacking in a few critical areas. We almost certainly spend too much on defense but so much of the government subsidization of middle class employment comes from that public-private interaction of defense related contracting. I don't know how to start untangling that mess while not destroying entire communities like Huntsville. It requires big, thorough planning that transitions stuff away from strictly defense research, development, and production to a mix of domestic public works and defense.
    HSV has made a lot of progress in diversifying away from defense. One paradox is that the trained STEM workforce here was a huge draw in pulling in the 4,000 job Mazda/Toyota plant, with its 11x multiplier (+450 more jobs at the Toyota engine plant this week alone). Now the one billion FBI HQ and the 1500-2000 FBI jobs, with a 4x multiplier, that was all Dick Shelby...
    "The cure for boredom is curiosity. There is no cure for curiosity. - Ellen Parr"

    'If today were the last day of my life, would I want to do what I am about to do today?' - Steve Jobs

    I would rather live my life as if there is a god and die to find out there isn't, than live my life as if there isn't and die to find out there is. Albert Camus

    "When Fascism comes to America, it will be wrapped in the flag and carrying a cross." - Sinclair Lewis

  13. #260

    Re: The Tax Thread

    Quote Originally Posted by 2003TIDE View Post
    Bump. Still waiting for an answer explaining how people wanting a refund equates to believing in Santa Claus.
    What's hard to understand? This is literally what you quoted:

    "I can't help but laugh at the people who, out of one side of the mouth, complain about the reduced size of this year's tax refund.

    Then, out of the other side of the mouth, rail against the budget deficit."


    Is it difficult to understand his meaning? Seems clear to me.
    Oderint dum metuant - Lucius Accius

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