The illegals and the anchor babies will love this

[sprinter]

LA unveils $578M school, costliest in the nation

[JW]

I am SO glad I don't live within L.A. city limits...

[goinbroke2]

Ah it's easy, just raise taxes on the top 1% to pay for it...oh wait......

[Ford Jellymoulds]

Alcatraz looks much more warmer and inviting than that ugly monstrosity of a skool, California must hate their kids.

 

No doubt Helicopter Ben will be on news soon with his printing presses announcing some more QE to fix the problem short term, long term the grandchildren of kids attending this skool today will still be paying down the debt.

[jpd80]

Ah it's easy, just raise taxes on the top 1% to pay for it...oh wait......

 

The best solution is to eliminate income tax completely and introduce a strong consumption tax

People hiding in a cash society cannot avoid paying tax when it applies to everything they buy.

 

I think people would view illegal workers in a different light if they were compelled to pay tax,

one objection resolved but pressure on medical and education still need to be addressed.

[Ford Jellymoulds]

The best solution is to eliminate income tax completely and introduce a strong consumption tax

People hiding in a cash society cannot avoid paying tax when it applies to everything they buy.

 

I think people would view illegal workers in a different light if they were compelled to pay tax,

one objection resolved but pressure on medical and education still need to be addressed.

 

Ford of Europe sales have already tanked JPD, and we are going to get 20% VAT tax on new cars as from 1st January 2011 as a part of the UK governments austerity package, l wonder what that will do to FOE sales that are already falling 25% a month now due to end of C4C programs, and the October austerity cuts have not even started to kick in yet.

 

We are not all like you in Australia JPD on a 20 year continuous boom cycle paid for by raping the land of all its natural resources like you are doing at the moment. Britain's been there done that brought the tee-shirt it got squandered under Thatcher who sold off all the family silver & created fake yuppie boom of the late 80's by selling off the land UK factories were once built on for new houses, the North Sea oil fueled piss-up party is over for us in the UK and long gone now.

Edited August 23, 2010 by Ford Jellymoulds

[silvrsvt]

The best solution is to eliminate income tax completely and introduce a strong consumption tax

 

 

I know what your saying, but um I think that would put the US economy even in worse shape then it is now..since its mostly consumption driven

 

 

 

 

[jpd80]

I know what your saying, but um I think that would put the US economy even in worse shape then it is now..since its mostly consumption driven

 

Agreed tax solution is over simplistic but has a lot of merit in destroying the cash society.

 

What I suggest is an equitable tax that applies to sales instead of income tax,

a more efficient way for government to collect its tax that's difficult to avoid.

Edited August 23, 2010 by jpd80

[jpd80]

 

We are not all like you in Australia JPD

 

That is so true......

[akirby]

Agreed tax solution is over simplistic but has a lot of merit in destroying the cash society.

 

What I suggest is an equitable tax that applies to sales instead of income tax,

a more efficient way for government to collect its tax that's difficult to avoid.

 

The only problem I can see is that there will be big fluctations in tax revenue which could result in budget overruns if we have sudden economic problems. Of course the solution to that is to reduce spending and also to build up a surplus - much like sales people who are paid strictly on commission.

[Ford Jellymoulds]

That is so true......

 

Just watch Ford UK sales plummet when the 20% VAT CONSUMPTION tax gets introduced 1st January 2011.

 

It started off in 1973 at a 10% tax added to cars, but its like a drug to government junkies it just keeps on going up and up over time its a milk the motorist machine. I still pay the UK government 40% in income tax as well JPD.

Edited August 23, 2010 by Ford Jellymoulds

[goinbroke2]

I like the idea of a flat tax but know it would never be implemented.

 

Income tax on the rich would come down, but they won't endorse it because they would lose all the "hiding places"

Income tax on the poor would probably go up so they won't endorse it.

 

But it would be fair, 10-15% income tax on everybody.

 

Strictly consumer based taxation would be too volatile for the governemnt. They project a decade in advance on current funding allocations etc. To find that the source of their money dried up because gas went to $5.00 a gallon and everybody is cutting back would be too much to bear.

 

I don't mind paying income tax, I just don't like having to pay too much because it is squandered by the government. I should add the caveat, "I don't mind paying my fair share" of income tax.

[jpd80]

Just watch Ford UK sales plummet when the 20% VAT CONSUMPTION tax gets introduced 1st January 2011.

 

It started off in 1973 at a 10% tax added to cars, but its like a drug to government junkies it just keeps on going up and up over time its a milk the motorist machine. I still pay the UK government 40% in income tax as well JPD.

The reason your VAT is so high is Government debt and since that 20% VAT

applies to nearly everything, Ford won't be the only car company suffering.

[Imawhosure]

The best solution is to eliminate income tax completely and introduce a strong consumption tax

People hiding in a cash society cannot avoid paying tax when it applies to everything they buy.

 

I think people would view illegal workers in a different light if they were compelled to pay tax,

one objection resolved but pressure on medical and education still need to be addressed.

 

 

I respectfully disagree, and for obvious reasons. Taxes are supposed to be fair to all. I don't appreciate the government taking money from 1 person, and transferring it to another. But, I also do not appreciate if I buy the equivalent of 200 bucks worth of groceries, fuel, etc per month, that the person who makes a million bucks a year if he mirrors me, will pay only what I do.

 

That being said, money is useless if it is not invested to make more, or you are spending it. But let us be reminded that many guys like Mr Buffet actually live kinda like we do. This means under soley a consumption tax, he would pay not much more than you.

 

And what about those who would then be able to take that money, and invest it over seas? We are now financing businesses there? I thought our objective was that if we had to finance, we would insure the money stayed here for the jobs scenario.

 

A consumption tax is fine, but after a certain amount of income is realized, there should also be a tax rate to pay; although much lower of a percentage for high income people then now exists. Since what is left of the middle class uses most of its money to survive, they should pay no income tax at all, just the consumption tax.

 

Realistically----->this will never happen. Since the middle class (although shrinking) is where all the money really is, and add to that the fact that the government will still want to somehow REFUND EXTRA money to the poor, I can't see anything like this seeing the light of day in my lifetime.

 

Remember, if everyone worth over 5 million dollars was lumped together, and everyone who is considered middle class was put in another group, the middle class money would dwarf theirs. This is why the government is coming for YOU, lol. The middle class is where the vast mojority of money resides in this country. They just put forth the notion about screwing the rich to distract you from the truth while trying to convince you that you should feel good cause they got them for you.

 

Feeling good cause someone else got hammered more than you in taxes, eventhough your taxes went up is thinking bassackwards!!!!!!!! Even you liberals will have to admit that.

[RangerM]

I respectfully disagree, and for obvious reasons. Taxes are supposed to be fair to all. I don't appreciate the government taking money from 1 person, and transferring it to another. But, I also do not appreciate if I buy the equivalent of 200 bucks worth of groceries, fuel, etc per month, that the person who makes a million bucks a year if he mirrors me, will pay only what I do.

Of course you're assuming his consumption would mirror yours. I'd say that's unlikely. Even if most millionares drive Buicks and F-150s, I'd bet they're nicer Buicks and F-150s.

 

But then what happens.......

That being said, money is useless if it is not invested to make more, or you are spending it. But let us be reminded that many guys like Mr Buffet actually live kinda like we do. This means under soley a consumption tax, he would pay not much more than you.

....to his money once he's finished his weekly Walmart trip? Mr. Buffet is going to put his money either in the bank or in stocks, where it will be used by entrepenuers to generate wealth. You can bet Mr. Buffet won't stuff the money in his mattress.

 

Banks don't make money holding onto yours in a safe. They make money lending that money to others for new businesses, new homes, new cars, and a whole host of other items where they have a reasonable expectation of return on investment.

 

That said, what IF that money is......

And what about those who would then be able to take that money, and invest it over seas? We are now financing businesses there? I thought our objective was that if we had to finance, we would insure the money stayed here for the jobs scenario.

...invested overseas? If you face no capital gains or income tax liability in this country why would you?

[xr7g428]

Ima, remember when we were kids and fair meant being treated equally, no favoritism, the same rules applied to everyone. How did that word come to mean unequal treatment? When did fair come to mean that two from me and three from you is equal?

[jpd80]

I respectfully disagree, and for obvious reasons. Taxes are supposed to be fair to all. I don't appreciate the government taking money from 1 person, and transferring it to another. But, I also do not appreciate if I buy the equivalent of 200 bucks worth of groceries, fuel, etc per month, that the person who makes a million bucks a year if he mirrors me, will pay only what I do.

 

I meant personal income tax to be replaced by a consumption tax, company tax and deductions would still remain.

In that instance there could be a ceiling placed on personal income where above that people must register

as a business and be taxed accordingly. I don't have all the answers, don't even intend to pretend that I do.

I just believe there's gotta be a better system for collecting tax from people and businesses than the

current inefficient and outdated system.

Edited August 24, 2010 by jpd80

[Ford Jellymoulds]

I meant personal income tax to be replaced by a consumption tax, company tax and deductions would still remain.

In that instance there could be a ceiling placed on personal income where above that people must register

as a business and be taxed accordingly. I don't have all the answers, don't even intend to pretend that I do.

I just believe there's gotta be a better system for collecting tax from people and businesses than the

current inefficient and outdated system.

 

Ford & GM would be hurt the most by the 20% VAT CONSUMPTION tax rise in the UK as the UK is Ford UK & GM Vauxhall UK No1 biggest market & source of most of their sales by miles in Europe come 1st January 2011.

 

VAT is added to nearly everything you buy in Europe the British Government think they will make a killing from the consumer by upping VAT to 20% on everything we buy, but in reality JPD it will make things worse cash strapped folk will just stop spending even more which will mean things will get become worser than they already are.

 

Only thing that will start making me spend money on new cars again break the spell, will be if l see exciting cars being sold again that have a strong on personality & character again preferably RWD & Ford, rather than weak wimpy no character zero personality dull low drag coefficient that are bland offer no excitement what so ever and are more boring to own than a fridge or toaster.

 

Ball is in the manufacturers court to design products folk want to buy, which will get folk spending again, putting a 20% VAT CONSUMPTION tax on the consumer is just like adding more oxygen to the recessions bush fire the consumer will just stop spending altogether and tip the worlds economy into something worse that the 1930's depression. Only way to get out of this recession is to make attractive reliable products folk want to buy a typical company that already do this is Apple and they are sitting on one of the biggest cash mountains in their bank account $40 billions to be precise and folk still want to buy their products unabated by the the economic downturn their sales are bombproof.

 

 

 

[jpd80]

Ford & GM would be hurt the most by the 20% VAT CONSUMPTION tax rise in the UK as the UK is Ford UK & GM Vauxhall UK No1 biggest market & source of most of their sales by miles in Europe come 1st January 2011.

 

 

We'll see,

the UK needs to stop spending money and if new vehicle sales have to suffer to repair years of damage, so be it.

Anyway, Brits love VAT and high income tax, it pays for NHS, unemployment payments and old age pensions.

 

 

Edited August 24, 2010 by jpd80

[RangerM]

I meant personal income tax to be replaced by a consumption tax, company tax and deductions would still remain.

In that instance there could be a ceiling placed on personal income where above that people must register

as a business and be taxed accordingly. I don't have all the answers, don't even intend to pretend that I do.

I just believe there's gotta be a better system for collecting tax from people and businesses than the

current inefficient and outdated system.

Under the FairTax (a proposed consumption tax), all income taxes (corporate and personal) are eliminated.

 

The goal is to eliminate all taxes on achievement.

[jpd80]

Under the FairTax (a proposed consumption tax), all income taxes (corporate and personal) are eliminated.

 

The goal is to eliminate all taxes on achievement.

A very interesting plan, although the wealthy and businesses get taxed much less,

the government loses the need review and approve tax deductions and write downs.

[RangerM]

A very interesting plan, although the wealthy and businesses get taxed much less,

the government loses the need review and approve tax deductions and write downs.

Businesses pay the the same consumption tax as individuals....on retail purchases. You think businesses will consume less?

 

The "wealthy" only pay taxes on their income. If I earn nothing, yet I'm a millionare, I pay nothing. A consumption tax is on their wealth, regardless of their income.

 

You're right that the government loses the need to review. More importantly, businesses can ditch the cost of tax compliance, and if you own a business, you know how costly that can be.

[jpd80]

Businesses pay the the same consumption tax as individuals....on retail purchases. You think businesses will consume less?

 

The "wealthy" only pay taxes on their income. If I earn nothing, yet I'm a millionare, I pay nothing. A consumption tax is on their wealth, regardless of their income.

 

You're right that the government loses the need to review. More importantly, businesses can ditch the cost of tax compliance, and if you own a business, you know how costly that can be.

 

Ah, that's slightly different to our Aussie goods and service tax, business pay GST but

they also claim a deduction on GST they pay on items they use to earn a living.

 

Business pays GST to upstream suppliers and then charges GST for its products, on the 3-monthly

Business activity statement, the two figures are submitted and the difference remitted.

 

Sounds like under "Fair tax", everyone pays consumption tax that can't be passed on.

Interesting take on tax...

Edited August 24, 2010 by jpd80

[suv_guy_19]

Ah, that's slightly different to our Aussie goods and service tax, business pay GST but

they also claim a deduction on GST they pay on items they use to earn a living.

 

It's the same here. If businesses paid GST all the way up the chain, the prices would go through the roof.

[RangerM]

Sounds like under "Fair tax", everyone pays consumption tax that can't be passed on.

Interesting take on tax...

ONLY at the retail level.

 

If you are purchasing something for resale (like a raw material) or other intermediate, you aren't purchasing it at the retail level, and you pay no tax.

 

If you are purchasing something used, you aren't purchasing it at the retail level, and you pay no tax.

 

According to the FairTax, the only person/business who pays the consumption tax is the end user of the product (whatever it is).

 

Yes, if a business purchases toilet paper for its employees' use, the FairTax would need to be included in the calculated overhead costs. If he purchases steel to make cars, he doesn't pay the FairTax (on the steel), and it would not be included in the overhead costs.