Originally posted by gambit3you are forgetting the biggies like tobacco,alcohol,etc
Federal income tax + FICA tax + state income tax + pluss property tax+ pluss sales tax+ taxes for things such as gasoline, ect + things that are a tax in my opinion such as a fishing license, a license for a motor vehicle. Federal income is not the only tax Americans have forced on them.
Originally posted by no1marauderAgreed, too bad the right wing has brainwashed so many into thinking we're being taxed to death😞
Contrary to right wing screechers, our taxes are just too damn low. Here's a provocative article with the eye-opening facts:
Taxes too high?
Actually, as a share of the nation's economy, Uncle Sam's take this year will be the lowest since 1950, when the Korean War was just getting under way.
And for the third straight year, America ...[text shortened]... en the biggest tax breaks over the last 30 years (you know who they are)?
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Originally posted by CliffLandinI mentioned everthing that I had to pay. I did forget about the self employment tax. P.S. I am not resident of Oregon, Florida, or Califirnia. All states require a motor vehicle to have a license. It is called a license plate. Taxes are taxes no matter what they call it or which part of the government mandates it.
There is no sales tax in Oregon. There is no state income tax in Florida or California or many other states. And many states don't have taxes for hunting or fishing licenses, nor for licenses for motor vehicles. And state taxes shouldn't even factor into this discussion.
Taxes are not a bad thing. They pay for most of the things that you take for gran cop on the beat or a fire truck speeding down the road remember that you helped finance that.
Originally posted by CliffLandinI remember years ago I heard Montana had no property tax. Taxes are usually shifted somewhere else as a result. This does not prove taxes are lower. Here in Michigan we have state income tax, property tax, 6% sales tax (it used to be lower years ago) and our drivers license registration was raised a lot recently.
There is no sales tax in Oregon. There is no state income tax in Florida or California or many other states. And many states don't have taxes for hunting or fishing licenses, nor for licenses for motor vehicles. And state taxes shouldn't even factor into this discussion.
Taxes are not a bad thing. They pay for most of the things that you take for gran ...[text shortened]... cop on the beat or a fire truck speeding down the road remember that you helped finance that.
Inflation is also a tax (QE1 and QE2 should raise that tax down the road)) that should not be ignored. Income taxes may be lower but taxes in general are higher in Michigan.
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Originally posted by gambit3Well, at least as far as the OP points to Obama and the (until recently) Democrat-controlled Congress, I think the broadening consideration for other taxes doesn't really undermine the articles point.
Federal income tax + FICA tax + state income tax + pluss property tax+ pluss sales tax+ taxes for things such as gasoline, ect + things that are a tax in my opinion such as a fishing license, a license for a motor vehicle. Federal income is not the only tax Americans have forced on them.
For instance, FICA taxes have been reduced by 2%.
Federal income taxes are lower.
State and local taxes (like property tax and sales taxes) are out of Obama's and Congress' hands (and you can still deduct them).
Gasoline taxes are much lower than mainstream economist's measure of the optimal tax (see Pigovian tax).
Finally things like federal excise taxes make up an insignificant fraction of government revenues (they could double and it wouldn't offset the reductions in income and payroll taxes).
Look. It's fair to ask whether all this tax cutting is even a good idea given the dire fiscal path we are on, but let's call a spade a spade. Taxes are lower (at least at the federal level).
Originally posted by gambit3So, you equate any fee levied as a tax? Interesting.
I mentioned everthing that I had to pay. I did forget about the self employment tax. P.S. I am not resident of Oregon, Florida, or Califirnia. All states require a motor vehicle to have a license. It is called a license plate. Taxes are taxes no matter what they call it or which part of the government mandates it.
You're right taxes are taxes, but what you speak of are not taxes. They are fees. Is it a tax when you pay to go into a state park? No. It is a fee. There is a difference.
Originally posted by telerionTax cutting is always a good idea, especially for small businesses which provide most of the new jobs that this economy needs right now.
Well, at least as far as the OP points to Obama and the (until recently) Democrat-controlled Congress, I think the broadening consideration for other taxes doesn't really undermine the articles point.
For instance, FICA taxes have been reduced by 2%.
Federal income taxes are lower.
State and local taxes (like property tax and sales taxes) are out ...[text shortened]... are on, but let's call a spade a spade. Taxes are lower (at least at the federal level).
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Originally posted by Scotty70Small businesses also need capital and cheap credit.
Tax cutting is always a good idea, especially for small businesses which provide most of the new jobs that this economy needs right now.
If we decide that a tax cut is always good, how does the government pay down its debt? Forget about any future government spending. Let's assume that the government could completely stop doing all its primary services without a single hiccup in the market. It would still have to repay its debt (+ interest). How is the government going to do that without taxes?
When the Federal Reserve decides that the time is right to tighten monetary policy, the only thing that will keep interest rates on government securities low is confidence that the US government will repay its obligations on time. If the market decides that the government will adopt the "a tax cut is always good" policy, it will price the default risk in in a heartbeat and small businesses will get crushed.
IMO, we need to broaden the tax. Cut out a lot of unfair "tax expenditures" and bring our revenue stream in line with our expectations of government services. Conditional on raising the necessary revenue, the code should be simplified and marginal tax rates should be brought as low as possible. And, personally, I favor a modest amount of progressivity (mostly at the very low end though). But all that is just my view.
Originally posted by no1marauderwhereas spending is now highest it's ever been except for during WWII:
Contrary to right wing screechers, our taxes are just too damn low. Here's a provocative article with the eye-opening facts:
Taxes too high?
Actually, as a share of the nation's economy, Uncle Sam's take this year will be the lowest since 1950, when the Korean War was just getting under way.
And for the third straight year, America ...[text shortened]... en the biggest tax breaks over the last 30 years (you know who they are)?
http://www.usgovernmentspending.com/us_20th_century_chart.html
US Government Spending As Percent Of GDP
(chart)
US Government Spending As Percent Of GDP
Fiscal Years 1903 to 2010YearGDP-US
$ billionTotal Spending -total
pct GDP
190325.96.80i
190425.77.28i
190528.86.89i
1906316.81i
190733.96.61i
190830.17.90i
190932.27.84i
191033.48.03i
191134.38.31i
191237.48.09i
191339.18.22a
191436.59.55i
191538.79.80i
191649.68.22i
191759.79.49i
191875.822.12i
191978.329.38i
192088.412.81i
192173.614.31i
192273.412.67a
...
19864460.135.71i
19874736.435.09i
19885100.434.73i
19895482.134.94i
19905800.536.01i
19915992.137.22i
19926342.337.04a
19936667.436.31a
19947085.235.38a
19957414.735.54a
19967838.534.69a
19978332.433.77a
19988793.533.24a
19999353.532.65a
20009951.532.56a
200110286.233.38a
200210642.334.75a
200311142.135.28a
200411867.834.78a
200512638.434.79a
200613398.935.06a
200714077.634.98a
200814441.436.94a
200914258.241.97e
201014623.943.09g
Originally posted by zeeblebotOnly a few more percentage points and you'll be as "socialist" as Denmark. 😉
whereas spending is now highest it's ever been except for during WWII:
http://www.usgovernmentspending.com/us_20th_century_chart.html
US Government Spending As Percent Of GDP
(chart)
US Government Spending As Percent Of GDP
Fiscal Years 1903 to 2010YearGDP-US
$ billionTotal Spending -total
pct GDP
190325.96.80i
190425.77.28i
1905 ...[text shortened]... 35.06a
200714077.634.98a
200814441.436.94a
200914258.241.97e
201014623.943.09g
Originally posted by zeeblebotApples and oranges; Federal government spending was $3.5 trillion in 2010 or about 24% of GDP. The chart must be including every bit of government spending down to local school districts so it's not strictly comparable to the figures in the OP.
whereas spending is now highest it's ever been except for during WWII:
http://www.usgovernmentspending.com/us_20th_century_chart.html
US Government Spending As Percent Of GDP
(chart)
US Government Spending As Percent Of GDP
Fiscal Years 1903 to 2010YearGDP-US
$ billionTotal Spending -total
pct GDP
190325.96.80i
190425.77.28i
1905 ...[text shortened]... 35.06a
200714077.634.98a
200814441.436.94a
200914258.241.97e
201014623.943.09g