Can_I_just_be_Jo is offline Can_I_just_be_Jo Post #21  July 11,2010, 2:48pm

blames self-help books

Power Poster

Joined: Oct 2009

STL

Posts: 4,879

See profile

TallGuy65 wrote :
That's why they instituted the payroll tax. If it didn't come out of your paycheck (where sadly MOST people really have no idea how much they actually earn versus pay to the government) then you would never be caught near a tax office WILLINGLY paying your tax.

I know this is drifitng slightly o/t but our entire tax system has become so muddled where the actual people that write it don't understand it (just look up Charlie Rangel). I personally despise being punished for my hard work. I would be very happy to pay a consumption tax while being able to decide what to do on my own with everything that I earn...but that is a completely different discussion.

While we are talking about businesses and repatriation, does anyone here actually believe that businesses pay taxes, instead of them being passed through to consumers who buy their goods and services?
I can't remember his name but the guy who runs the IRS has his taxes prepared by an accountant. He said well who can understand this stuff.

Payroll tax does not refer to withholding which is what you speak of, payroll taxes are the unseen taxes your employer pays on your behalf. For instance everything you pay into FICA your employer matches behind the scenes so to speak. Most people don't realize that there is a substantial amount of taxes paid to employ one worker and this factors into what they will offer someone in wages.

So far as taxes passed onto consumers it depends on the industry. Most industries have around the same pricing structure so as a tax is added it becomes a part of the cost of goods sold. Industries like oil, tobacco and your utilities will pass any and all taxes on to the consumer as you are dependent on the product and pay whatever it takes to get it.

Does this help?
 
  Reply With Quote
TallGuy65 is offline TallGuy65 Post #22  July 11,2010, 3:08pm
TallGuy65's Avatar

No Longer Here...Very Happy In Life. Peace To All.

Pacesetter

Joined: Jun 2008

Posts: 377

See profile

Sorry for misappropriately using the word "payroll" instead of "income" tax. What I was referring to was the federal income tax withholding that was instituted as mandatory in 1943. I was replying to a previous poster about not willingly paying taxes, and what I meant to convery was the notion that if the mandatory withholding was ever abolished, you would hear an outcry in this country that would be deafening, because so many people have no idea what they actually pay.

I was not speaking about FICA which is a different creature in itself and should be done away with (yes, I would much prefer to manage my own instead of the "rob-Peter-to-pay-Paul" nightmare that social security is now). In that regard, my employer could pay me a higher wage instead of having to match that to the government, if they so desired.

Uhm, didn't you just pretty much say the same thing I did about companies and taxes? Or did you not realize my tongue-in-cheek way of saying "companies don't pay taxes...they just pass them down the line in raised costs"?
 
  Reply With Quote
Can_I_just_be_Jo is offline Can_I_just_be_Jo Post #23  July 11,2010, 3:25pm

blames self-help books

Power Poster

Joined: Oct 2009

STL

Posts: 4,879

See profile

TallGuy65 wrote :
Sorry for misappropriately using the word "payroll" instead of "income" tax. What I was referring to was the federal income tax withholding that was instituted as mandatory in 1943. I was replying to a previous poster about not willingly paying taxes, and what I meant to convery was the notion that if the mandatory withholding was ever abolished, you would hear an outcry in this country that would be deafening, because so many people have no idea what they actually pay.

I was not speaking about FICA which is a different creature in itself and should be done away with (yes, I would much prefer to manage my own instead of the "rob-Peter-to-pay-Paul" nightmare that social security is now). In that regard, my employer could pay me a higher wage instead of having to match that to the government, if they so desired.

Uhm, didn't you just pretty much say the same thing I did about companies and taxes? Or did you not realize my tongue-in-cheek way of saying "companies don't pay taxes...they just pass them down the line in raised costs"?
I was completely agreeing with you, just cleaning up the terms a bit.

There is actually a school of thought that wants to abolish withholding so that people become more aware of how much they are actually paying in taxes. When you file you see the amount but it isn't real since you never hold it. People actually look at their refunds as money they got back from the government instead of how much extra they loaned, interest free, to the government. Really if people had been smarter all along there is a chance things wouldn't have got as bad as it is now.
 
  Reply With Quote
Can_I_just_be_Jo is offline Can_I_just_be_Jo Post #24  September 24,2010, 10:13am

blames self-help books

Power Poster

Joined: Oct 2009

STL

Posts: 4,879

See profile

Apparently the unions agree with me. Okay one union, one guy but it is the SEIU.

James S. Tisch: Andy Stern Sees the Light on Overseas Profits - WSJ.com
 
  Reply With Quote
waltercl is offline waltercl Post #25  September 25,2010, 2:09pm
waltercl's Avatar

is Feeling good about life ............................

Veteran

Joined: Nov 2008

The South

Posts: 1,710

See profile

The one thing that solves all of this is the FAIR TAX. You'll have to read up on it, but it is very different then the VAT which is used in Europe. The FAIR TAX is the only tax you would pay, and this would be for any business or individual. Neil Boortz (spelling?) and some others have some great books out which answers all the common questions. I was really skeptical of it myself until I read through and seen every one of my potential objections answered.

And as far as the Reagan deficit that is one of the long-standing myths that is out there that can easily be disproven by about 5 minutes of research. Yes the deficit went up but it is because spending went way up. The Reagan tax cuts caused more tax revenues to come in, but for every $2 extra that came in another $3 extra was spent (Thank Mr. Tip Oneil). It doesn't take a mathematician to figure out you're going to run up more debt. I did an economic paper on the effect of tax cuts on collected revenues and going all the way back to Coolidge and his Treasury Secretary Mellon it was clear that each time you lowered rates you actually got more tax revenues. It's actually common sense. If you leave more money out in the private sector where it can work it will produce more income and thus more tax revenue then if you take it out of the economy and try to redistribute it.
Last edited by waltercl; September 25,2010 at 2:12pm.
 
  Reply With Quote
Reply
  • Page 3 of 3
  • 1
  • 2
  • 3


« Economic Reality | Politics | What's more important? »
Topic Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new topics
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off

Looking for a Great Relationship?

Get started now. Fill out this form and take the questionnaire to receive your matches.

First Name:

I'm a:
seeking

Postal Code:

Country:

Email:

Confirm Email:

Password:


How did you hear about us?


Latest on our Dating Advice Discussion Boards

“The tennis ball story is a good analogy, RD, and that's how I interpret "gut feeling" -- a conclusion/sense of something that's a thought, not a feeling; though it will have feelings associated with ... ” –  Sassafras54

Join the “Is Your Gut Leading - or Misleading You?” discussion

“Agree. Given where you are emotionally, I would cease all communication with Mr. Trade Show. You're vulnerable. He's up for a challenge. It's playing with fire. You'll be in a bad place in the ... ” –  emma_hazards

Join the “Received lovely email from former poofer” discussion

“How about phone calls, then?” –  barbarella_42

Join the “Advice on Response time” discussion

“I have never spoken to a woman like he has. Yeah, I have never spoken to a woman like that either. It is a hard call to whether he is just as jerk, or whether he is a player. Both are feasible ... ” –  ScottK

Join the “So, men. Explain this to me, please!” discussion

“I have come to this same conclusion. Thank you.” –  bibittyboo

Join the “Confused about date #2” discussion

“Harmonygirl, I do not usually make up my mind on blanket situations but instead would examine each one on it's own merits, so I cannot answer your question. However, just in the going about of daily ... ” –  Ephemera

Join the “Atheism, Religion and Tolerance” discussion

“I was ok until the kiss on the cheek part....That doesn't sound like your defenses were up at all... It's one thing for a guy to walk up and start with the cheesy lines....But as soon as I say, "no ... ” –  Ingytravel

Join the “So this guy walks into a bar . . .” discussion

“ No. It is not wise. You have to throw all your eggs into one basket for love to work at all. Relationships are inherently riskier than careers. You can't use the same rules. You might lose ... ” –  harnomygirl

Join the “Becoming Exclusive” discussion



All times are GMT -8. The time now is 11:31am.

Discussion Boards Archive

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2012, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO 3.6.0