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2009-05-27 Economy

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Posted by GolfBravoUSMC 2009-05-27 12:45|| || Front Page|| [2 views ] Top

#1 People are beginning to recognize that the mathematics of the current system are just unsustainable. You have to do something. Shoot yourself in the head, then.

Posted by Anguper Hupomosing9418 2009-05-27 13:27|| 2009-05-27 13:27|| Front Page Top

#2 So much for "95% of Americans won't see their taxes increase!" You don't get much more regressive than sales taxes, let alone punitive 10% rates. They'd subject us all to Chicago municipal sales tax rates if they can.

What the fuckers don't mention is that conservative would-be reformers want to replace the income and corporate income taxes with VATs, or income taxes with a revenue-neutral carbon tax. The fuckers-that-be *never* think that way. It's always *in addition to* the existing tax structure.

What these "the rest of the world pays VAT" assholes *don't* tell you is that they pay VAT instead of heavy taxes on corporations, which is the American model. The European corporation extracts heavy VAT rates from their customers in exchange for not paying heavy direct taxes on their net revenue, the way that American corporations do, in theory.

Posted by Mitch H.">Mitch H. 2009-05-27 13:31|| http://blogfonte.blogspot.com/]">[http://blogfonte.blogspot.com/] 2009-05-27 13:31|| Front Page Top

#3 If the present crop of congressional beauzeaux really want to get unelected quick, they should go ahead and try this.

Here's a novel idea: QUIT SPENDING MONEY WE DON'T HAVE!

Idiots.

Posted by Barbara Skolaut">Barbara Skolaut 2009-05-27 13:31|| 2009-05-27 13:31|| Front Page Top

#4 Lets see. VAT plus "Cap and Tax" plus Income Tax plus "State and Local". Yup, that should leave enough to eat on if you don't need a roof overhead.

Posted by tipover 2009-05-27 13:48|| 2009-05-27 13:48|| Front Page Top

#5 "Hey! I gots it! Let's tell the rubes that it will pay for healthcare! If they buy the idear that our deficits are because we don't have universal health care, they'll buy this idear, too!"

Posted by Cornsilk Blondie 2009-05-27 14:20|| 2009-05-27 14:20|| Front Page Top

#6 This administration is intentionally trying to impoverish the nation.

Posted by Iblis 2009-05-27 14:26|| 2009-05-27 14:26|| Front Page Top

#7 Enter the VAT, one of the world's most popular taxes, in use in more than 130 countries.

Yeah? These folks in Manila don't seem so crazy about it...

Posted by tu3031 2009-05-27 14:40|| 2009-05-27 14:40|| Front Page Top

#8 a couple of things will happen if this is implemented:
There will be a spike in large purchases (houses, cars...) as people race to avoid the penality.
The politicians will tell you the spike in economic activity validates their great decision.
The economy will then drop tremendously as prices of goods and sevices adjust to reality (will houses really cost 25% more? probably not because buyers will be hit with a tax induced inflation and prices will need to come down to match market forces).
Politicians will then say they need to borrow, spend and tax more to get the 'new' economy moving again.

Rinse and repeat.

Posted by airandee 2009-05-27 14:51|| 2009-05-27 14:51|| Front Page Top

#9 Retirees will see their fixed income from savings reduced by 25% so they can provide Universal Helthcare to Illegal Aliens and other people that cannot or choose not to have Healthcare coverage. 401Ks will become 301Ks overnight.

Posted by GolfBravoUSMC 2009-05-27 15:06|| 2009-05-27 15:06|| Front Page Top

#10 FYI, Australia introduced this (called GST here) 10 years ago.

2 things of note.

All revenues go to the states.

States were supposed to remove existing taxes to make it revenue neutral, which of course they didn't.

As taxes go, its a good tax. Easy and cheap to administer. My return took me about 5 minutes to do.

In the US it sounds like a federal government tax grab.

Posted by Phil_B 2009-05-27 15:17|| 2009-05-27 15:17|| Front Page Top

#11 NO! NO! NO!

Posted by 3dc 2009-05-27 15:22|| 2009-05-27 15:22|| Front Page Top

#12 "401Ks will become 301Ks overnight."

Hell, GB, mines already become a 201K.

I'm planning on working until I die....

Posted by Barbara Skolaut">Barbara Skolaut 2009-05-27 15:33|| 2009-05-27 15:33|| Front Page Top

#13 Barbara:

I your case it will become a 151K. My current 313K will become a 235K.

I'll be working the rest of my life with you to pay for this Obamadness.

Posted by GolfBravoUSMC 2009-05-27 15:43|| 2009-05-27 15:43|| Front Page Top

#14 Barbara and GB, you don't understand. Making you work until you die is a feature, not a bug. There is honor and nobility in ~~slaving~~ working until the end so you can support the masses, fellow oppressors!

(Yeah, I gots a 201k, myself....I sure hope that Walmart greeter smock doesn't make my butt look fat....)

Posted by Cornsilk Blondie 2009-05-27 15:51|| 2009-05-27 15:51|| Front Page Top

#15 Didn't Huckabee have a plan just like this?
Only it was a fools pursuit when a Republican thought of it.

I think it would be a good system if they eliminated the income tax and went solely with the VAT. Every person in the country would be bound to pay their fair share.
But you notice their isn't a single word in there about doing away with the income tax.

Posted by bigjim-ca 2009-05-27 16:00|| 2009-05-27 16:00|| Front Page Top

#16 Didn't Huckabee have a plan just like this?

Huckabee's was The FairTax not a VAT.

Posted by Beavis 2009-05-27 16:08|| 2009-05-27 16:08|| Front Page Top

#17 I make things for a living. I sold a bunch of things today. The buyer paid me CASH. I gave her a small discount since this sale will never show up on any books, and will not be taxed.

Y'all need to get used to working off the books as much as possible. Starve the bastards.

BTW, VATs are usually levied on sales up and down the wholesale side of things. They are not just a retail tax, someone pays a tax everytime something gets sold, including raw materials on their way to becoming a finished product, which is then taxed again at retail.

Posted by Parabellum 2009-05-27 16:21|| http://sidemeat.wordpress.com/]">[http://sidemeat.wordpress.com/] 2009-05-27 16:21|| Front Page Top

#18 Either way, the idiot VAT tax or monitization is a tax increase on 100% of Americans. Make that known far and wide. I want John Linders Peoples Resplution Fair Tax to replace the current system. We still have not addresed the AMT.

The only solice will be if the Country gets a reduced credit rating or Washington DC becomes gone over night.

This whole thing will be a disaster as no matter what move they make, it will be the opposite direction of really needs to be done.

Posted by newc">newc 2009-05-27 16:43|| 2009-05-27 16:43|| Front Page Top

#19 There is an upside to not retiring. KiloBravo and I won't have to buy those lawn chairs we were going use to watch the geese and ducks at the park.

We've got that going for us.

Blondie, get a job in the patio furniture department at Walmart. You'll have a lot of people to talk to about lawn chairs.

Note to myself: Buy lawn chair futures.

Posted by GolfBravoUSMC 2009-05-27 16:44|| 2009-05-27 16:44|| Front Page Top

#20 America, you DO NOT WANT VAT!

You are fools to even consider it. You are idiots if you allow it to pass. You should hang your political class from lamp posts and burn their homes if they force this upon you.

My God, what is going on in the USA?

Posted by Lagom 2009-05-27 17:57|| 2009-05-27 17:57|| Front Page Top

#21 401K ⇒ 404 Not Found

Posted by James">James 2009-05-27 18:17|| http://idontknowbut.blogspot.com]">[http://idontknowbut.blogspot.com] 2009-05-27 18:17|| Front Page Top

#22 My God, what is going on in the USA?

The citizens were scared and conned into electing a Marxist for president when a Marxist can't even get elected dog catcher in any town. Fun and scary isn't it when France and Japan are now considered more belligerent than the USA.

Posted by ed 2009-05-27 20:01|| 2009-05-27 20:01|| Front Page Top

#23 Actually I support a VAT. Now over half of households pay essentially no income tax. They only see the benefits of free government money. They don't see the labor of those who work long hours to pay for government. When the freeloaders see 25% disappear from the top of their purchases, maybe they will rethink their insatiable appetite for more government cheese.

Posted by ed 2009-05-27 20:07|| 2009-05-27 20:07|| Front Page Top

#24 One caveat. Don't implement a VAT now, since it would only result in massive tax increases to fund government deficits. Only when finances are more sound and net taxes collection can be neutral.

Posted by ed 2009-05-27 20:11|| 2009-05-27 20:11|| Front Page Top

#25 Is writing a check that your account can't cover a crime?

Posted by IRS Man 2009-05-27 20:15|| 2009-05-27 20:15|| Front Page Top

#26 I hate the idea of a new tax, however the vast majority of the voting public pay no income taxes. If they did, they might start to vote a leeeetle bit differently

Posted by Frank G">Frank G 2009-05-27 20:44|| 2009-05-27 20:44|| Front Page Top

#27 You can be absolutely sure that if Obama and the Dems get their way, you'll see a 25% national sales tax PLUS a 'progressive' income tax. Won't be surprised if they start taxing IRA's and 401K's too.

Posted by DMFD 2009-05-27 20:57|| 2009-05-27 20:57|| Front Page Top

#28 This will put the recession into a depression and the costs of everything will skyrocket

Posted by DarthVader 2009-05-27 21:40|| 2009-05-27 21:40|| Front Page Top

#29 DMFD - Wasn't there talk about confiscating everyone's IRA and 401K and putting it into a Government program like Social Security?

Because the likes of Obama, Barny Frank and Chris Dodd obviously know better then you do how you should invest your money.

Posted by CrazyFool 2009-05-27 23:06|| 2009-05-27 23:06|| Front Page Top

#30 CrazyFool: The gov is welcome to confiscating the Gov Student Loans for my kids.....
Damned education didn't do a whit for any invisible real jobs for the kids so I am stuck with both sides of the loans.... Parent+ and Kids+
Oh and the illegal aliens in Cal got free tuition while I paid out of state for my oldest. (and still pay...) Its not right, proper or acceptable - its worse then robbery.

Posted by 3dc 2009-05-27 23:46|| 2009-05-27 23:46|| Front Page Top

23:54 Albemarle Jese4554
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