Cold Steel
Newbie
Not needed? Seriously?
Why do "they" have to spend more of "my" money during a recession?
Honest question: How does that enforce cyclical economics?
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How would you fix US Economy?
- Thread starter Evo 5oh
- Start date
Not needed? Seriously?
Why do "they" have to spend more of "my" money during a recession?
Honest question: How does that enforce cyclical economics?
ElasticNinja
Android Expert
Yeah, something really has to give, the deficit needs to be brought to 0% by the time the whole economic crisis is finally over.
Yes, horribly, horribly wrong.
Yeah, seriously. You dont just set aside an arbitrary percentage of tax revenue to pay off debt.
Because economics. Also, everything depends on the government, so government spending cant just zig zag up and down with the tax take. Those ideas died a horrible death 80 years ago.
Because it will not give the conditions for a stable economy, leading to a boom-bust cycle.
OutofDate1980
Android Expert
Get rid of the differential tax rate between earned income and capital income, it just causes gaming the system.
Progressive taxes evens up the playing field as the wealthy have undue influence in government. Progressive taxes also incentivizes the wealthy to support good governance as they have more to lose.
The main reason to support progressive taxation is reality, as voodoo economics doesn't work, progressive taxation does as our economy grows due to public investments and deficits remain manageable.
The externality of the "gas shocks" in the 70's was just a wake-up call that we were dependent on nonrenewal fuels, not that the economic system that got us out of the great depression didn't work.
Prosecute all members, including the CEOs of corporate members of ALEX (American Legislature Exchange) under RICO for conspiracy to pay and/or accept bribes, tax evasion and failure to register as a lobbyist.
Fixing the economy can't be done without first reforming political financing as this is the necessary first step to clean up the current extortion/bribery system.
Progressive taxes evens up the playing field as the wealthy have undue influence in government. Progressive taxes also incentivizes the wealthy to support good governance as they have more to lose.
The main reason to support progressive taxation is reality, as voodoo economics doesn't work, progressive taxation does as our economy grows due to public investments and deficits remain manageable.
The externality of the "gas shocks" in the 70's was just a wake-up call that we were dependent on nonrenewal fuels, not that the economic system that got us out of the great depression didn't work.
Prosecute all members, including the CEOs of corporate members of ALEX (American Legislature Exchange) under RICO for conspiracy to pay and/or accept bribes, tax evasion and failure to register as a lobbyist.
Fixing the economy can't be done without first reforming political financing as this is the necessary first step to clean up the current extortion/bribery system.
A.Nonymous
Extreme Android User
Capital income should be taxed differently. Taxing capital income differently encourages investing which is not only good for the investor, but good for the economy as well.
OutofDate1980
Android Expert
Which is a myth. I've already posted studies that explodes that myth, but one only needs look when capital gains were taxed greater than earned income and GDP growth. In addition, differential tax rates on income streams just leads to gaming the system.
A.Nonymous
Extreme Android User
What is a myth? Taxing capital gains differently encourages investing? Or that investing is good for the economy? Or that investing is good for the investor?
You realize that if you raise capital gains a side effect is that you are raising taxes on the elderly and retirees. That's cool though?
ElasticNinja
Android Expert
Sure, if they have an income stream.
Retirees are adults too. I'm pretty sure most pensioners who are making a decent amount off capital gains will have no financial problems paying some more tax.
SamuraiBigEd
Under paid Sasquatch!
Problem is you can find a study that will support any and every opinion out there.
The capital gains tax is not restricted to just the wealthy, many middle income and even some low income people have capital investments and the tax hurts everyone.
I have have seen and lived first hand the times capital gains were taxed higher and everyone I know that it affected reduced investment and sat on their money rather than face the "penalty tax" (which is all it amounts to). If you could please find a study that explains how this is beneficial to the economy I would love to read it.
Taxes are not the answer, controlling spending is. Eliminating Congress ability to vote their own pay raises, take the limos and private jets away, make the military reward coming in under budget rather than punishing (if a department does not spend all money allocated for the year they loose some of their budget the following year), simplify things with the Fair Tax proposal and get rid of the IRS and all the bureaucracy involved, demand transparency and simplicity in legislation, get rid of lobbyists and demand accountability in all areas. This is just a short list, but these are some of the things that will get the country and economy back on the right track.
OutofDate1980
Android Expert
As previously posted: http://androidforums.com/politics-c...w-would-you-fix-us-economy-2.html#post4967003
Tax Cuts For The Rich Linked To Income Inequality, Not Economic Growth, Study Finds
A new study by the nonpartisan Congressional Research Service has found that over the past 65 years, tax cuts for the rich have not led to economic growth and instead are linked to greater income inequality in the United States.
The study found that cutting taxes for the rich does not increase saving, investment, or productivity growth. "The top tax rates appear to have little or no relation to the size of the economic pie," the study said.
Two graphs show the lack of connection between tax rates for the rich and economic growth:
Tax Cuts For The Rich Linked To Income Inequality, Not Economic Growth, Study Finds
A new study by the nonpartisan Congressional Research Service has found that over the past 65 years, tax cuts for the rich have not led to economic growth and instead are linked to greater income inequality in the United States.
The study found that cutting taxes for the rich does not increase saving, investment, or productivity growth. "The top tax rates appear to have little or no relation to the size of the economic pie," the study said.
Two graphs show the lack of connection between tax rates for the rich and economic growth:
SamuraiBigEd
Under paid Sasquatch!
And as I said, capital gains taxes are not exclusively the realm of the rich. You are punishing everybody subject to capital gains tax, if you sell your home you can be subject to capital gains. Have any investments? Real estate other than your "homestead"? Did you make money selling anything you own? All of these can be hit with capital gains tax.
I don't care what that study says the income inequality has nothing to do with taxes, if you want to stop that you will have to figure out how to eliminate greed. Taxing the wealthy more is not going to change that in any way shape or form, the people who conducted this study are positing a theory of their own concoction to achieve the goals they want.
If you want to make things fair put a 15% flat tax on everyone, no deductions or loopholes, everybody pays the same. I have news for you, this will be unfair in the eyes of people who support more tax on the wealthy because guess what, they will pay less than they do now and a large portion of the population will pay more. But it will be fair.
The real problem lies with companies where the CEO makes as much or more than all other employees combined. If you own a company you are entitled to make as much as you can, but to pay salaries of that magnitude for any position while many of the employees are scratching to make a living is pure greed and wrong. Get rid of that and you will see the inequality shrink.
I don't care what that study says the income inequality has nothing to do with taxes, if you want to stop that you will have to figure out how to eliminate greed. Taxing the wealthy more is not going to change that in any way shape or form, the people who conducted this study are positing a theory of their own concoction to achieve the goals they want.
If you want to make things fair put a 15% flat tax on everyone, no deductions or loopholes, everybody pays the same. I have news for you, this will be unfair in the eyes of people who support more tax on the wealthy because guess what, they will pay less than they do now and a large portion of the population will pay more. But it will be fair.
The real problem lies with companies where the CEO makes as much or more than all other employees combined. If you own a company you are entitled to make as much as you can, but to pay salaries of that magnitude for any position while many of the employees are scratching to make a living is pure greed and wrong. Get rid of that and you will see the inequality shrink.
OutofDate1980
Android Expert
Until the current bribery/extortion method of winning elections are changed, then nothing will be changed. The politicians are also people, this is the world that is and they act accordingly.
As previously posted: http://androidforums.com/politics-c...w-would-you-fix-us-economy-3.html#post5042510
"Get rid of the differential tax rate between earned income and capital income, it just causes gaming the system.
Progressive taxes evens up the playing field as the wealthy have undue influence in government. Progressive taxes also incentivizes the wealthy to support good governance as they have more to lose.
The main reason to support progressive taxation is reality, as voodoo economics doesn't work, progressive taxation does as our economy grows due to public investments and deficits remain manageable.
The externality of the "gas shocks" in the 70's was just a wake-up call that we were dependent on nonrenewal fuels, not that the economic system that got us out of the great depression didn't work.
Prosecute all members, including the CEOs of corporate members of ALEX (American Legislature Exchange) under RICO for conspiracy to pay and/or accept bribes, tax evasion and failure to register as a lobbyist.
Fixing the economy can't be done without first reforming political financing as this is the necessary first step to clean up the current extortion/bribery system."
As previously posted: http://androidforums.com/politics-c...w-would-you-fix-us-economy-3.html#post5042510
"Get rid of the differential tax rate between earned income and capital income, it just causes gaming the system.
Progressive taxes evens up the playing field as the wealthy have undue influence in government. Progressive taxes also incentivizes the wealthy to support good governance as they have more to lose.
The main reason to support progressive taxation is reality, as voodoo economics doesn't work, progressive taxation does as our economy grows due to public investments and deficits remain manageable.
The externality of the "gas shocks" in the 70's was just a wake-up call that we were dependent on nonrenewal fuels, not that the economic system that got us out of the great depression didn't work.
Prosecute all members, including the CEOs of corporate members of ALEX (American Legislature Exchange) under RICO for conspiracy to pay and/or accept bribes, tax evasion and failure to register as a lobbyist.
Fixing the economy can't be done without first reforming political financing as this is the necessary first step to clean up the current extortion/bribery system."
SamuraiBigEd
Under paid Sasquatch!
In short, get rid of greed.
Reigning in the government is the biggest step, it should be a lean operation that is involved in the most basic of capacities, not the juggernaut it has become.
Raising taxes is still not the answer, making taxes fair is. Eliminate loopholes and bogus deductions like Dr.'s and Lawyers using the "equipment" deduction for vehicles over 6000lbs, the one that was meant for people like myself who have to have a large truck for work, farmers or companies purchasing heavy equipment or tractors, not so some elite snob can write off the full cost of his Hummer in the first year thereby getting a free vehicle on the taxpayers dime.
And as I said earlier, get rid of lobbyists and make politicians accountable for their actions. If they continue with the slap on the wrist mentality (like our current AG) then we the people are screwed. I will add at this point since I omitted earlier that we do need to get rid of financial interests in politics, but this does somewhat fall under eliminating lobbyists/lobbying.
The mentality that the wealthy should pay more than their fair share because, well, they're wealthy is a Robin Hood principle and completely unfair. No one will ever convince me that if I work hard to make money I should have to give up more of it in an un-proportional scale, in fact push comes to shove I will defend my rights with the promise of violence.
If you want fair taxation look in to the Fair Tax Proposal, while still not 100% perfect it is a far cry better than what we have now.
A.Nonymous
Extreme Android User
Do the wealthy really have undue influence in the government? I've heard this alleged over and over, but remain on the fence as to it's truthiness.
OutofDate1980
Android Expert
At best it's called cognitive capture, i.e., listening to only one side. These lobbyist pay for a lot of cognitive capture. Lobbying Database | OpenSecrets
These groups also pay for the bulk of campaign spending, which now need not be publicly reported.
These groups also pay for the bulk of campaign spending, which now need not be publicly reported.
bberryhill0
Android Expert
Well they do own the politicians... It's not clear if the politicians have any influence over the government...
OutofDate1980
Android Expert
Look up ALEX for a start.
OutofDate1980
Android Expert
Well, since in theory, the government is the government of the people, which needs to be reigned in, what replaces it, say ALEX ?
bberryhill0
Android Expert
What does the Alabama Learning Exchange have to do with this?
OutofDate1980
Android Expert
ALEX=American Legislature Exchange. http://androidforums.com/politics-current-affairs/552909-domestic-propaganda-2.html#post5015147