US Taxes---Who pays what.

[BU RICK]

Wouldn't it be peachy keen to be an unelected official of the Federal Reserve, appointed and then reappointed by an astute elected official..and have a printing press in our basements running 24/7/365 printing 100 dollar bills, what a big shot we'd be...what fart smellers, what I mean..what smart fellas we'd be. And then we'll give the peons almost a zero percent interest rate and ruin the stock market to boot, WOW, we're so smart...what fart smellers we'd be...I meant smart fellas ya know. I remember my friends retired dad in the early 1980's telling us he was happy with the 10% he was getting on his 100,000$ CD.

http://www.pagetutor.com/trillion/index.html

Go Braves

[tornado]

new data today and even more coming tomorrow --
shows stagnant hiring, unimproved jobless claims, more housing slowdown, and suddenly the Dow plummets over 500 points -- one of the biggest single day crashes in history...

So wasn't solving the debt crisis supposed to have the exact opposite effect??
Not when the "crisis" was solved with a free reign for the administration to keep spending exhorbitantly and have an opening to raise taxes as well -- this is going to crush whatever chance there was of recovery...

[ChewaBrave]

LOL

Pretty sure no one honestly believed the debt ceiling raise was going to solve anything. All it did was upset markets while people sat there and waited for it to work its way out. If anything, the debate was a massive waste of time that could of been spent doing just about anything else and it would have been more productive.

[SFP]

LOL

Pretty sure no one honestly believed the debt ceiling raise was going to solve anything. All it did was upset markets while people sat there and waited for it to work its way out. If anything, the debate was a massive waste of time that could of been spent doing just about anything else and it would have been more productive.

Nancy Pelosi even said as much! Now that should just tell you what a joke the whole process was.

T - There are some families where both parents work at minimum wage jobs and cannot afford health care and are not the ones consuming beyond their means. They have enough from paycheck to paycheck to feed, cloth and put a roof over their kids, anything else would be pure luxury. There are those that abuse the system but there are also plenty of corporation that do the same. The easy answer to solve our problems are not answers that are politically savvy for most politicians. Cut all loopholes (Republicans believe that is like raising taxes), set a flat line tax code and lower corporate taxes (Democrats will yell that the policy is favoring the wealthy). I'm all for eliminating all forms of entitlement programs except for the young and very old. Arguing who is better the Republicans or Democrats is just a waste of time because both parties will do what it takes to stay in power regardless if it is the right thing or not. Oh and we could reduce the influence of special interest. The amount of money going into PACs from both parties will be astronomical this next election cycle.

[Beninator]

LOL

Pretty sure no one honestly believed the debt ceiling raise was going to solve anything. All it did was upset markets while people sat there and waited for it to work its way out. If anything, the debate was a massive waste of time that could of been spent doing just about anything else and it would have been more productive.

+1 Very well said.

[Beninator]

Nancy Pelosi even said as much! Now that should just tell you what a joke the whole process was.

T - There are some families where both parents work at minimum wage jobs and cannot afford health care and are not the ones consuming beyond their means. They have enough from paycheck to paycheck to feed, cloth and put a roof over their kids, anything else would be pure luxury. There are those that abuse the system but there are also plenty of corporation that do the same. The easy answer to solve our problems are not answers that are politically savvy for most politicians. Cut all loopholes (Republicans believe that is like raising taxes), set a flat line tax code and lower corporate taxes (Democrats will yell that the policy is favoring the wealthy). I'm all for eliminating all forms of entitlement programs except for the young and very old. Arguing who is better the Republicans or Democrats is just a waste of time because both parties will do what it takes to stay in power regardless if it is the right thing or not. Oh and we could reduce the influence of special interest. The amount of money going into PACs from both parties will be astronomical this next election cycle.

We can agree to disagree on some issues, but I pretty much agree with 95% of your post. I think that if anyone sat in my job for a month, they would have their eyes opened as to the things that happen to good people that IMO could be prevented or improved with some legislation. I know it opened my eyes!!!

[AE Braves Fan]

What is your job?

[Beninator]

What is your job?

Loan officer for a financial institution.

[SFP]

Here's an article that gives a little more clarity about who pays taxes and that notion that 50% of Americans do not pay taxes. When it is all said and done middle class Americans are the ones hit hardest. We do need tax reform IMO. Simplify the tax code, eliminate all loopholes and let the free market dictate how Americans spend their money not government policy.

http://www.sfgate.com/cgi-bin/article.cgi?f=%2Fc%2Fa%2F2011%2F08%2F07%2FMNC91KJIE4.DTL

[AZ BU Fan]

In all the discussions on the Hill about the budget and taxes, has anyone seen any mention about cutting Congressional salaries, their ridiculous pensions, their even more ridiculous health care insurance, and their shamefully outrageous perks paid for by the public?

Talk about "Golden Collar" jobs!

The Gov could also start with a 90% excise tax on any gross profits received by any Federal Gov politician/official from books, movies, songs, personal appearances they make cashing in on their political careers after they retire.

I am guessing these will only happen:

When Warren Buffett sends his first check to the Treasury for $1B from his personal wealth to help balance the budget

When President "Mr Open" Obama reveals where he is getting his record 2012 campaign funding from, or who he reveals who he entertains when he is not at the White House, but on non stop junkets/vacations around the world

When multi-millionaire entertainers/athletes who donate $$$ to Prez BO Campaign Fund send that money to the Treasury instead to lower the Federal Debt....

Funny how Obama torches the wealthy, but shakes down wealthy liberals around the world for multi multi millions in campaign funds which could be donated to the US Treasury to shore up the National Debt.