US of A Presidential Elections 2012

Cellos88GT

Well-Known Member
DONOR
Joined
Jan 20, 2008
Messages
3,991
Location
Santa Cruz, CA
Car(s)
2 Fox Mustangs and a '00 VFR
Do we have a thread regarding taxes in the US? I think it would be an interesting one to have...
 

Cobol74

Forum Addict
Joined
Mar 21, 2006
Messages
17,508
Location
The banana republic of Ukania
Car(s)
Honda Accord 2.2 i-Dtec Sport Estate.Hyundai Ix20
Government spends X gets tax revenue of Y has to borrow Y - X to fund the gap but the interest payments go into next years X. ? So the X gets bigger. Result misery, or 2008 and onward. Something has to be done world wide I think, the South Americans have a good way of dealing with the problem, they renege on the obligations and start again.
 

_HighVoltage_

Captain Volvo
Joined
Aug 5, 2006
Messages
9,961
Car(s)
1998 Volvo S70 T5M
Government spends X gets tax revenue of Y has to borrow Y - X to fund the gap but the interest payments go into next years X. ? So the X gets bigger. Result misery, or 2008 and onward. Something has to be done world wide I think, the South Americans have a good way of dealing with the problem, they renege on the obligations and start again.
Except, here in some states we have the so-called Tax-Payers' Bill of Rights (TABOR), which does more harm than good. As member of the graduate student government here at the University of Colorado we are working toward repealing TABOR.

What does TABOR do? It was introduced about 20 years from neo-liberal and libertarian desires. It dictates that if there is surplus in the budget from tax revenue, that surplus can't be used for public use (gardens, transport, education, roads etc...) but needs to be returned to the People! (everytime someone in America uses the phrase "the People" everyone gets giggly and mesmerized by fantasies of individualism)

Doesn't sound too bad, now does it? Except that it technically froze funding for education at a certain level. Over the years, due to inflation, that funding has been dwindling. The University of Colorado - the largest public school in the state, is now down to being only 8% publicly funded, and projections are that in the next 5 years it will go down to 0%.

But here is the kicker - in-state tuition in the last 5-6 years has gone up from $2,200 to $8,000, not primarily because of TABOR, but TABOR has prevented increases in public funding so it is one of the culprits.

So on the one hand you are happy - you get $2-3 more on your tax return every year, but on the other your kid's college tuition has tripled.

(TABOR itself is much more complicated, and I don't want to get into details here. Just wanted to illustrate some of the idiosyncrasies when it comes to taxes in the states)
 

British_Rover

Well-Known Member
Joined
Sep 4, 2006
Messages
4,290
Location
Torrington, CT United States
Car(s)
2005 Gr Cherokee, dealer demo
I have written a fair bit on taxes in this thread and the general politics thread but no I do not think we have one just for taxes.

On a slightly related to the election note if you want to break your brain go read any comments on the photos released of Obama shooting a shotgun.

Man the stupid is so high that I just cannot even try to correct it.
 

Cellos88GT

Well-Known Member
DONOR
Joined
Jan 20, 2008
Messages
3,991
Location
Santa Cruz, CA
Car(s)
2 Fox Mustangs and a '00 VFR
Wouldn't that just be 200 pages of people saying "Introducing higher taxes = Communism"?
Maybe. I know a few members disagree with a flat-tax on everybody and I just can't fathom why. A sales-only flat-tax, IMO, would be a dream.
 

CraigB

Ich bin ein Kartoffel
DONOR
Joined
Feb 14, 2007
Messages
12,520
Location
SWMO
Car(s)
Infiniti M30 - Nissan Frontier Pro-4X & Altima
A VAT like tax makes quite a bit of sense. I mean everyone buys things from stores. Especially people who under-report their income or are cash only.
 

sonza68

Well-Known Member
Joined
Feb 26, 2007
Messages
1,087
Location
Florissant, MO, US
Car(s)
'00 Cougar/'07 Explorer
The argument against a flat tax is usually that it is unfair to low income people who currently pay no (or very little) federal tax. A VAT type tax or flat would result in a large tax increase for these people, who are the ones who can afford it least.
 

Cellos88GT

Well-Known Member
DONOR
Joined
Jan 20, 2008
Messages
3,991
Location
Santa Cruz, CA
Car(s)
2 Fox Mustangs and a '00 VFR
The argument against a flat tax is usually that it is unfair to low income people who currently pay no (or very little) federal tax. A VAT type tax or flat would result in a large tax increase for these people, who are the ones who can afford it least.
They pay excise taxes already, what would be the difference? Low income people need to pay taxes out of principle so that it is understood where their benefits come from.
 

Hidden_Hunter

Needs more IceBone
Joined
Oct 7, 2006
Messages
8,615
Location
Melbourne, Australia
Car(s)
'13 BMW 125i, '26 Buick Standard Six
a GST that was consistent across the U.S (hell even states) would be a good start, one thing I can't stand when I go to the U.S is that prices are advertised without the tax applied, here I know exactly what I"m going to pay when I pick up the item
 

nomix

True Viking
Joined
May 26, 2005
Messages
7,293
Location
Norway
Car(s)
Tend do walk the 40 meters from my bed to lecture.
Wouldn't that just be 200 pages of people saying "Introducing higher taxes = Communism"?
No. Half of it would probably be me and British_Rover contradicting it and one third would be me questioning the intellect of anyone who call Eisenhover era tax levels 'communism'.

Doesn't sound too bad, now does it?
It sounds immensly imbisilic and like one of the worst ideas I've heard since that clown who wanted me and my colleques charged for evicting him last night. It ranks up there with the House of Lords voting against a budget in 1909.

In other words, it's very stupid.
 
Top