Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe Community Center
Current Events
Now This Could Open A Pandora's Box!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="wkmac" data-source="post: 87569" data-attributes="member: 2189"><p>Tie,</p><p>They don't specifically work to pay taxes but in some sense they in fact do. That comment is based that when you consider all forms of taxation whether direct such as the federal or state income taxes most of us pay and social security, medicare. Then add on various property taxes, state and local sales taxes and some state's charge taxes on cars annually when tags are purchased (mine does) and then on top of all of this you have embedded taxes in all products that you have no real knowledge of. For example, in my state we have a $.45 cent per gallon of tax on every gallon of gas sold. $.18 is the federal excise tax and the rest goes to the State. I saw this morning where a Senator from New Jersey is susggesting a 60 day suspension of the $.18 federal gas tax in order to help relieve the economic impact the high gas prices is having right now. </p><p> </p><p>When you begin to add up all these different taxes both seen and unseen, many quarters such on average the percentage of total income to pay all taxes is right at 40%. Now it's a given all taxes can't be cancelled because there are functions of gov't that are legit. You may see thses functions better served at the federal level whereas I happen to believe most of this is best served for the people at the State and local level. A couple of weeks ago I posted up the latest Pigbook from Citizen's Against Gov't Waste which documents all the unneeded porkbarrel that goes on in Washington. If you start cutting out this type of waste along with much of the other unneeded especially at the federal level and let's just say for example this happens and now the total % of income for taxes is down to say 25% so all American households just had their net income go up by 15%. Also 2nd incomes tend to throw people into higher tax brackets so there is also that factor.</p><p> </p><p>Now looking at some households, there is a cost with having 2 incomes. In many cases childcare which can be quite expensive is a needed expense. Add to that a 2nd vehicle that get's used more along with more fuel burned and with the higher gas prices the burden has really gone up. A 2nd income could also require more wardrobe to dress for the job and there'll also be costs like food for lunch and other associated job costs to earn the 2nd income. </p><p> </p><p>In the current climate as we have it now, when you take into account all these factors, all these embedded taxes along with the direct, etc. it's is possible some families could cut back to one income. Now whether they would choose to do so is another story because the lessen tax burden with 2 incomes would mean a nice economic windfall for the family. Mom of course would want to do something wise with that money and us guys would want to blow it on that bass boat we see every month in the Bass Pro Shop mailer!</p><p><img src="/community/styles/default/xenforo/smilies/group1/lol.gif" class="smilie" loading="lazy" alt=":lol:" title="Lol :lol:" data-shortname=":lol:" /> </p><p> </p><p>I say again, IMO I do believe it is possible that there are many families (not all mind you) out there that if the tax burden was reduced that some of these families would choose to fall back to a single income household when they factored in all the associated non tax costs of a 2nd income. I've already heard of people now, even with the current tax stucture, who decided the 2nd income really didn't add enough to really make it worth it so they've dropped back to a single income and do alright for themselves. In otehr words, take and reduce the tax burden and it possible the lifestyle the family lives could be done on a single income instead of the 2 incomes it now requires. Since for example, direct taxation comes out first before you even get your money it is somewhat valid to suggest a 2nd income is needed to pay taxes but I'm cool with the opposite point of view on that. The major point is for people to recognize the massive amount of waste by gov't and it's direct and indirect cost to you as a taxpayer. </p><p> </p><p>Consider this point. If UPS ran it's company like the gov't does how long would we remain in business? Now remember, UPS doesn't have the power to tax or create money so factor that out and consider how long UPS would last? This is an assumption on my part and I could be wrong but I'm thinking we're on the same page on that point and that UPS probably wouldn't last to long. If that's the case then when are we willing to sit back and let our gov't do it? The principles of proper accounting and good stewardship apply whether in the private or public sector and as I've said before, the political parties running the show have done a terrible disservice to the American people but in defense of these parties we continue to vote and send them back so in reality what message are we sending them in the first place?</p><p> </p><p>Hope that explained my thinking on this.</p><p> </p><p>C Ya!</p></blockquote><p></p>
[QUOTE="wkmac, post: 87569, member: 2189"] Tie, They don't specifically work to pay taxes but in some sense they in fact do. That comment is based that when you consider all forms of taxation whether direct such as the federal or state income taxes most of us pay and social security, medicare. Then add on various property taxes, state and local sales taxes and some state's charge taxes on cars annually when tags are purchased (mine does) and then on top of all of this you have embedded taxes in all products that you have no real knowledge of. For example, in my state we have a $.45 cent per gallon of tax on every gallon of gas sold. $.18 is the federal excise tax and the rest goes to the State. I saw this morning where a Senator from New Jersey is susggesting a 60 day suspension of the $.18 federal gas tax in order to help relieve the economic impact the high gas prices is having right now. When you begin to add up all these different taxes both seen and unseen, many quarters such on average the percentage of total income to pay all taxes is right at 40%. Now it's a given all taxes can't be cancelled because there are functions of gov't that are legit. You may see thses functions better served at the federal level whereas I happen to believe most of this is best served for the people at the State and local level. A couple of weeks ago I posted up the latest Pigbook from Citizen's Against Gov't Waste which documents all the unneeded porkbarrel that goes on in Washington. If you start cutting out this type of waste along with much of the other unneeded especially at the federal level and let's just say for example this happens and now the total % of income for taxes is down to say 25% so all American households just had their net income go up by 15%. Also 2nd incomes tend to throw people into higher tax brackets so there is also that factor. Now looking at some households, there is a cost with having 2 incomes. In many cases childcare which can be quite expensive is a needed expense. Add to that a 2nd vehicle that get's used more along with more fuel burned and with the higher gas prices the burden has really gone up. A 2nd income could also require more wardrobe to dress for the job and there'll also be costs like food for lunch and other associated job costs to earn the 2nd income. In the current climate as we have it now, when you take into account all these factors, all these embedded taxes along with the direct, etc. it's is possible some families could cut back to one income. Now whether they would choose to do so is another story because the lessen tax burden with 2 incomes would mean a nice economic windfall for the family. Mom of course would want to do something wise with that money and us guys would want to blow it on that bass boat we see every month in the Bass Pro Shop mailer! :lol: I say again, IMO I do believe it is possible that there are many families (not all mind you) out there that if the tax burden was reduced that some of these families would choose to fall back to a single income household when they factored in all the associated non tax costs of a 2nd income. I've already heard of people now, even with the current tax stucture, who decided the 2nd income really didn't add enough to really make it worth it so they've dropped back to a single income and do alright for themselves. In otehr words, take and reduce the tax burden and it possible the lifestyle the family lives could be done on a single income instead of the 2 incomes it now requires. Since for example, direct taxation comes out first before you even get your money it is somewhat valid to suggest a 2nd income is needed to pay taxes but I'm cool with the opposite point of view on that. The major point is for people to recognize the massive amount of waste by gov't and it's direct and indirect cost to you as a taxpayer. Consider this point. If UPS ran it's company like the gov't does how long would we remain in business? Now remember, UPS doesn't have the power to tax or create money so factor that out and consider how long UPS would last? This is an assumption on my part and I could be wrong but I'm thinking we're on the same page on that point and that UPS probably wouldn't last to long. If that's the case then when are we willing to sit back and let our gov't do it? The principles of proper accounting and good stewardship apply whether in the private or public sector and as I've said before, the political parties running the show have done a terrible disservice to the American people but in defense of these parties we continue to vote and send them back so in reality what message are we sending them in the first place? Hope that explained my thinking on this. C Ya! [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe Community Center
Current Events
Now This Could Open A Pandora's Box!
Top