Racism - It's a real thing.

[Moiraine]

9 minutes ago, B.B. Hemingway said:

 

 

Yep. The 22% number is where I've always read that it would have to be. So where are you getting 30%? 

 

 

Yeah, it would be bad for those that are currently not paying anything in income tax, but they'd have tax credits there to save them at the end of the year like they depend on now.

 

 

 

30% is what I calculated as the percentage of income they would be spending on sales tax if sales tax increased from 8.25% to 22%.

 

Currently, people in the 50th percentile pay sales taxes of 11.3% of their income. Pushing sales tax to 22% would increase it from 11.3% to 30% for someone making $40k.

 

People in the bottom 20% spend 12.3% of their income on sales tax, so it would increase to more than 30%. Without calculating I would guess someone getting paid $10/hr, $20,800 per year would be spending around $6,700 on sales tax.

 

It’s possible these are post tax % (12.3% might be the percentage of income after taxes spent on sales taxes) since the $ amounts for expenditures seem high compared to the income amounts, but the same trends would occur.

[ZRod]

17 minutes ago, B.B. Hemingway said:

 

 

Yep. The 22% number is where I've always read that it would have to be. So where are you getting 30%? 

 

 

Yeah, it would be bad for those that are currently not paying anything in income tax, but they'd have tax credits there to save them at the end of the year like they depend on now.

If they are going to have tax credits still then what's the point?

[B.B. Hemingway]

17 minutes ago, ZRod said:

If they are going to have tax credits still then what's the point?

 

It's a fair tax system, or at least as fair as one is going to get.

[ZRod]

4 minutes ago, B.B. Hemingway said:

 

It's a fair tax system, or at least as fair as one is going to get.

But you've essentially created the same tax system but reduce the revenue generated by the government by reducing the burden on those who can afford it... What the hell is the point of making it "fair" if it doesn't work?

[NM11046]

11 hours ago, NM11046 said:

Did I miss something?  Tax returns are because someone paid TOO MUCH income tax, not because they didn't pay.

To the eye roller's and laughers ... forgive me for reading the title of the thread (Racism) and then having missed a day of being on the board.  

[B.B. Hemingway]

8 minutes ago, ZRod said:

But you've essentially created the same tax system but reduce the revenue generated by the government by reducing the burden on those who can afford it... What the hell is the point of making it "fair" if it doesn't work?

 

 

The consumption tax would not, from what I have read on it, reduce the revenue collected by the government, and would provide a boon to the economy. Even if it did, government spending is a much greater problem than how much the rich are paying in taxes.

 

Edit: It doesn't really matter, nothing is going to change anyhow.... So back to racism! 

 

[BigRedBuster]

4 hours ago, B.B. Hemingway said:

 

 

Again, it's still 47% of the population that isn't paying them.The details involved don't lessen the burden.

 

Who are the elderly that aren't paying taxes? Assuming they have a social security check coming in, and/or they're making 401K withdrawals, they are paying taxes.

So, it doesn’t matter if someone can actually earn an income....pay your f***ing taxes. 

[B.B. Hemingway]

Just now, BigRedBuster said:

So, it doesn’t matter if someone can actually earn an income....pay your f***ing taxes. 

 

Who we talking about? The elderly?  If you can't make a living once retired off of your 401K/Pension and Social Security, well that's on you.

[B.B. Hemingway]

 

[Moiraine]

56 minutes ago, B.B. Hemingway said:

 

 

 

 

No one should be watching Prager U, and that was such a bulls#!t argument with a misleading title. The main way the Black vote is supressed is through gerrymandering and it’s irrefutable. But if we just focus on the smaller issue of voter IDs, the issue is they’re not free, so poor people are less likely to have them. And a larger % of the Black population is poor. Blacks and the poor are also more likely to be underbanked than Whites, just to address that small part of one area of voter suppression.

 

None of it has anything to do with being “too stupid” we she repeated over and over on top of him.

[Moiraine]

56 minutes ago, B.B. Hemingway said:

 

Who we talking about? The elderly?  If you can't make a living once retired off of your 401K/Pension and Social Security, well that's on you.

 

 

You’re wrong in this. 

 

75-80% of the U.S. population lives paycheck to paycheck. A lot of people don’t have a 401k through their employer. If it’s on them, what is wrong with them? Are they stupid? Lazy? I think that’s a bunch of bulls#!t but I don’t know what else your explanation is for why it’s completely their fault.

 

[B.B. Hemingway]

23 minutes ago, Moiraine said:

 

 

You’re wrong in this. 

 

75-80% of the U.S. population lives paycheck to paycheck. A lot of people don’t have a 401k through their employer. If it’s on them, what is wrong with them? Are they stupid? Lazy? I think that’s a bunch of bulls#!t but I don’t know what else your explanation is for why it’s completely their fault.

 

 

There are endless, low-skilled job opportunities available to everyone, that provide 401Ks. So yeah, if you don't have a 401K/pension at retirement age than it's on you. If not, you'll have to keep working or live off your social security. If you don't have that? You may be stupid or lazy (unless you're disabled and can't actually work).

 

Also, it's the least surprising thing ever that you don't think people should watch PragerU. Just because you disagree with what they're saying doesn't mean it's unwatchable.

[Moiraine]

2 minutes ago, B.B. Hemingway said:

 

There are endless, low-skilled job opportunities available to everyone, that provide 401Ks. So yeah, if you don't have a 401K/pension at retirement age than it's on you. If not, you'll have to keep working or live off your social security. If you don't have that? You may be stupid or lazy.

 

 

There aren’t “endless” unfilled jobs out there period, let alone with 401k’s - that’s ridiculous and mathematically completely wrong.

 

Only 40% of small businesses offer a retirement plan and small businesses employ by far the most people. There aren’t millions of hidden jobs out there that offer it that are just waiting to be taken. That’s ludicrous.

 

https://www.limra.com/Posts/PR/Industry_Trends_Blog/LIMRA_Research_Finds_4_in_10_Small_Businesses_Currently_Offer_Retirement_Benefits.aspx

 

 

I mean this in the least a$$h@!e way possible, but I don’t know how you can get that idea in your head without being sheltered as far as what jobs you’ve had and your willingness to look at the actual data and not just come up with it on the fly. It sounds to me like an anecdote you’re just running with. Like maybe you know of multiple open jobs with 401k’s, so it must be the case they are “endless.”

[Moiraine]

17 minutes ago, B.B. Hemingway said:

 

Also, it's the least surprising thing ever that you don't think people should watch PragerU. Just because you disagree with what they're saying doesn't mean it's unwatchable.

 

 

Most of what I’ve seen from them is not fact based or data driven. Kind of like Breitbart. If you fall for their utter bulls#!t, that’s on you.

 

I will never understand why anyone rational would waste their time watching political opinion shows. What about these people makes you respect their opinions?

[B.B. Hemingway]

7 minutes ago, Moiraine said:

 

 

There aren’t “endless” unfilled jobs out there period, let alone with 401k’s - that’s ridiculous and mathematically completely wrong.

 

Only 40% of small businesses offer a retirement plan and small businesses employ by far the most people. There aren’t millions of hidden jobs out there that offer it that are just waiting to be taken. That’s ludicrous.

 

https://www.limra.com/Posts/PR/Industry_Trends_Blog/LIMRA_Research_Finds_4_in_10_Small_Businesses_Currently_Offer_Retirement_Benefits.aspx

 

 

I mean this in the least a$$h@!e way possible, but I don’t know how you can get that idea in your head without being sheltered as far as what jobs you’ve had and your willingness to look at the actual data and not just come up with it on the fly. It sounds to me like an anecdote you’re just running with. Like maybe you know of multiple open jobs with 401k’s, so it must be the case they are “endless.”

 

Sheltered lol....Manufacturing companies (I worked in one for 10 years) do have endless rotation. They just do. And if you work for a small business, and they don't offer a 401K, go to your local Schwab or Edward Jones agent, they'll set you up! I own my own small business now, it's what I have to do if I want a 401k! What's ludicrous is pretending that people don't have job opportunities available too them....pretending they're relegated to Wendy's drive-thru window for the rest of their life.