Chicago Barn to Wire
Home | News | Bloggers | Forums | Resources | Links | Marketplace | Gallery | Contact Us | Search


December 18, 2014, 07:32:22 PM *
Welcome, Guest. Please login or register.

Login with username, password and session length
News: If you don't remember your password, email me.

New  registration procedures -- Some ISPs have been bouncing the verification emails.  Please email me to be activated or if you have any problems.  Click Contact Us above.
 
   Home   Help Search Login Register  
Pages: 1 [2] 3 4 ... 6   Go Down
  Print  
Author Topic: Want to save $100 Billion a year in taxes?  (Read 8699 times)
Buffaloboy
Hero Member
*****
Posts: 5091




Ignore
« Reply #25 on: July 17, 2008, 07:41:25 PM »

Get rid of the loons!


When I heard we will save $100 billion a year, I thought Obama had dropped out of the race for the White House
Report to moderator   Logged

When will Barn To Wire finally do the right thing and ban Clockerterry & Edwarren for their continued lies, anti-American & anti-semetic statements and their general disrutpive stupidity? 

“The answer to a government that’s too big is to stop feeding its growth.” - President Ronald W. Reagan
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #26 on: July 17, 2008, 07:42:37 PM »


When I heard we will save $100 billion a year, I thought Obama had dropped out of the race for the White House

You obviously haven't seen McCain's economic plan! Hahahaha! NOBODY thinks it will work.
Report to moderator   Logged
Kenneth J. Chadwick
Hero Member
*****
Posts: 3047




Ignore
« Reply #27 on: July 17, 2008, 07:53:24 PM »


When I heard we will save $100 billion a year, I thought Obama had dropped out of the race for the White House

 thumbs up thumbs up thumbs up thumbs up thumbs up thumbs up thumbs up thumbs up
Report to moderator   Logged

It's a Wonderful Life, let's live every moment like its your last.
CLOCKERTERRY
Guest

« Reply #28 on: July 17, 2008, 09:45:48 PM »

A paragraph that Moon "inadvisedly" omitted.

"Citizens in these other countries are paying more money, but they are getting more back, in terms of social programs, said Christopher Heady, head of tax policy for the Paris-based think tank Organization for Economic Cooperation and Development, or OECD. Its a choice the electorate makes".

Thanks for including the paragraph, Ken. It's exactly what we're talking about. "The electorate" will decide if it wants increased social programs and the costs that go along with them. Not some lunatic fringe on the left or right that thinks they have some monopoly on what's right for everyone. "The electorate" will decide.

The reason I asked in the first place was because of your quote about high business taxes. Usually, if one tax is unnaturally low, some other has to be unnaturally high. Governments get the money to fund the programs the electorate demands one way or the other. In this case, it seems like the demand for low personal taxes has landed the burden on business. Can't have it both ways, and still expect all the same entitlements that are so vigorously defended.
Report to moderator   Logged
CLOCKERTERRY
Guest

« Reply #29 on: July 17, 2008, 09:49:21 PM »


When I heard we will save $100 billion a year, I thought Obama had dropped out of the race for the White House

Maybe he would double the product testing workforce at Consumer Product Safety by hiring another guy, so your kids don't have to eat lead paint off their Chinese toys. Maybe he would hire a few extra food inspectors, so you don't end up with poisoned meat. You just never know.
Report to moderator   Logged
Buffaloboy
Hero Member
*****
Posts: 5091




Ignore
« Reply #30 on: July 17, 2008, 11:55:24 PM »

Believe it or not, Americans enjoy some of the lowest income tax rates in the world.

http://moneycentral.msn.com/content/Taxes/P148855.asp

/I'm sure this will be attacked as a "Loony Liberal" website. It's MSN.com after all, which is run by those "Loony Liberals", Bill Gates and Steve Balmer.


We "enjoy" taxes?

Only a true Liberal Socialist would say we "ENJOY" taxes.

If that just doesnt describe your side, nothing does.
Report to moderator   Logged

When will Barn To Wire finally do the right thing and ban Clockerterry & Edwarren for their continued lies, anti-American & anti-semetic statements and their general disrutpive stupidity? 

“The answer to a government that’s too big is to stop feeding its growth.” - President Ronald W. Reagan
mel4600
Guest

« Reply #31 on: July 18, 2008, 07:03:33 AM »

I didn't omit anything. I didn't INCLUDE anything. I gave you the url and let you judge for yourself. I wish more of you would do that. I can't get any links from ANY of you!!!

Sheesh.

But you are BS-ing. That statement is only for a FEW countries. Here's the chart:
    
The Basics
Think your taxes are bad?

Every year, you grimace as you sign your return. Imagine what it's like in Belgium or Hungary, where taxes can take half your pay. Plus: the wackiest taxes on record.

 By Debora Vrana

Believe it or not, Americans enjoy some of the lowest income tax rates in the world. Today of all days, it might not seem so.

When you look at the overall tax burden, the U.S. is quite low," said Eric Toder, a senior fellow at the Urban Institute in Washington, D.C., and former director of the office of research for the Internal Revenue Service.

For a family with one wage-earner and two children, only Iceland and Ireland have a lower income tax burden than the U.S., according to the most recent data for 2005.


At the top, Sweden, Turkey, France and Poland impose the biggest tax burdens on families, but in most of those countries families get added social services, such as secure pensions and health care.

Citizens in these other countries are paying more money, but they are getting more back, in terms of social programs, said Christopher Heady, head of tax policy for the Paris-based think tank Organization for Economic Cooperation and Development, or OECD. Its a choice the electorate makes.


The OECD collects data on 30 member countries and annually calculates what it calls the tax "wedge" for each -- the combined effects of personal income tax, employee and employer social security contributions, payroll taxes and cash benefits.

 Tax burdens around the world
Country   Single, no kids   Married, 2 kids   
Australia   28.3%   16.0%   
Korea   17.3%   16.2%
Austria   47.4%   35.5%   
Luxembourg   35.3%   12.2%
Belgium   55.4%   40.3%   
Mexico   18.2%   18.2%
Canada   31.6%   21.5%   
Netherlands   38.6%   29.1%
Czech Republic   43.8%   27.1%   
New Zealand   20.5%   14.5%
Denmark   41.4%   29.6%   
Norway   37.3%   29.6%
Finland   44.6%   38.4%   
Poland   43.6%   42.1%
France   50.1%   41.7%   
Portugal   36.2%   26.6%
Germany   51.8%   35.7%   
Slovak Republic   38.3%   23.2%
Greece   38.8%   39.2%   
Spain           39.0%   33.4%
Hungary   50.5%   39.9%   
Sweden   47.9%   42.4%
Iceland   29.0%   11.0%   
Switzerland   29.5%   18.6%
Ireland   25.7%   8.1%   
Turkey   42.7%   42.7%
Italy           45.4%   35.2%   
United Kingdom   33.5%   27.1%
Japan    27.7%   24.9%   
United States   29.1%   11.9%

It looks like there are only a FEW countries who pay less than us: Ireland and Iceland only for married couples.

Moon,

By the way, Iceland was voted by the UN as the best country to live in. What you are not including in the U.S. percentages above is social security tax or medicare tax which is approximately an additional 13.85% (Ken can correct me if I'm wrong) total tax.

I also believe that a large corporation will pay more tax in the U.S. than any other major country in the world. Given that, and the demands of labor unions, you will understand why companies are leaving.
Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #32 on: July 18, 2008, 07:04:16 AM »


We "enjoy" taxes?

Only a true Liberal Socialist would say we "ENJOY" taxes.

If that just doesnt describe your side, nothing does.

Yeah, that's what it says. Nice try.

Hahahahha!
Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #33 on: July 18, 2008, 07:12:06 AM »

Moon,

By the way, Iceland was voted by the UN as the best country to live in. What you are not including in the U.S. percentages above is social security tax or medicare tax which is approximately an additional 13.85% (Ken can correct me if I'm wrong) total tax.

I also believe that a large corporation will pay more tax in the U.S. than any other major country in the world. Given that, and the demands of labor unions, you will understand why companies are leaving.

Sadly, the facts don't fit your theory. It says right in the article:

The OECD collects data on 30 member countries and annually calculates what it calls the tax "wedge" for each -- the combined effects of personal income tax, employee and employer social security contributions, payroll taxes and cash benefits.


They INCLUDE Social Security.

Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #34 on: July 18, 2008, 07:14:00 AM »

From my understanding, Iceland IS a GREAT place to live. Their energy needs are soon to be almost 100% supplied by geo-thermal water and they are using that energy to convert water to hydrogen to run their autos.

They also consider it crucial to educate their children and they have some of the best looking women in the world. Plus, bars. If it wasn't called "ICEland" everybody would move there.

Maybe if we get self-sustaining on renewable energy, we can do that.

I also believe they don't have a military. How could YOU possibly live in a country where you couldn't be all "macho-by-association"??
Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #35 on: July 18, 2008, 07:20:02 AM »

Unions are the cause? I don't think so.

No, it's the search for ever cheaper labor. Let's face it, if corporations could find somebody to do the work for 2 cents a week, that's where they'd go, even if it meant the complete downfall of the US.

Big business is good for America, but maybe NOT so good for Americans.
Report to moderator   Logged
mel4600
Guest

« Reply #36 on: July 18, 2008, 07:39:51 AM »

Sadly, the facts don't fit your theory. It says right in the article:

The OECD collects data on 30 member countries and annually calculates what it calls the tax "wedge" for each -- the combined effects of personal income tax, employee and employer social security contributions, payroll taxes and cash benefits.


They INCLUDE Social Security.



Moon,

You need to get back to reality! Do you live live in the U.S.? Why not check the tax tables for yourself instead of believing some article.
Report to moderator   Logged
Mel from Moline
Hero Member
*****
Posts: 3339




Ignore
« Reply #37 on: July 18, 2008, 09:41:24 AM »

KJC. nice reply to my questions. I do however disagree with Moon and you about the poor's much larger percentage in a sales tax situation. Look at a real life instance, I make roughly 500 a week and and get taxed roughly $100 for everything leaving the obvious 400 net.(20%)So I buy a gallon of milk for $4, and instead of the stae tax of 7% I pay an extra 40 cents. Doesnt effect my life the same. They might take 20% off the top or I can buy whatever needs I have and pay 10% and have a much better effect. Understand my point? If a family spends 200 a week in groceries, or $220 after a sales tax there's just not as much realistic effect. At least that's my opinion.
 I mean, wouldnt the rich with their naturally higher tastes spend much more on higher quality things? I mean they would drive a 50K vehicle to my 15K car? I truly believe that a sales tax, if done properly would be the best way to go, again, for the MOST amount of people.
Report to moderator   Logged

Horses make the humans...not the other way around.
Kenneth J. Chadwick
Hero Member
*****
Posts: 3047




Ignore
« Reply #38 on: July 18, 2008, 09:52:43 AM »

KJC. nice reply to my questions. I do however disagree with Moon and you about the poor's much larger percentage in a sales tax situation. Look at a real life instance, I make roughly 500 a week and and get taxed roughly $100 for everything leaving the obvious 400 net.(20%)So I buy a gallon of milk for $4, and instead of the stae tax of 7% I pay an extra 40 cents. Doesnt effect my life the same. They might take 20% off the top or I can buy whatever needs I have and pay 10% and have a much better effect. Understand my point? If a family spends 200 a week in groceries, or $220 after a sales tax there's just not as much realistic effect. At least that's my opinion.
 I mean, wouldnt the rich with their naturally higher tastes spend much more on higher quality things? I mean they would drive a 50K vehicle to my 15K car? I truly believe that a sales tax, if done properly would be the best way to go, again, for the MOST amount of people.

The rich have more discretionary income.  Individuals at the bottom end of the food chain pay a higher percent if we have a flat sales or consumption tax than say me. 
I make more money, I save more money.

As a percent of my total income, my sales tax , percentage wise, is lower.

Hard dollars yes, but percentage wise no.

Think of it as a titter toddler. 

Hope I help.

Kenneth J. Chadwick 
Report to moderator   Logged

It's a Wonderful Life, let's live every moment like its your last.
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #39 on: July 18, 2008, 09:56:48 AM »

Moon,

You need to get back to reality! Do you live live in the U.S.? Why not check the tax tables for yourself instead of believing some article.

What problem do you have with those numbers, specifically? I don't believe YOU know how the income tax  system works.
« Last Edit: July 18, 2008, 09:58:32 AM by Moon » Report to moderator   Logged
edwarren
Guest

« Reply #40 on: July 18, 2008, 10:11:21 AM »


You're right Moon. I heard about this. Using Switzerland for corporate camoflauge begins way back to the notorious Germans Merton and Schmitz after WWI.   It's a fascinating story.  The Bush Administration is the worst we've ever had.

Conservatism has become nothing more than a racket.

Report to moderator   Logged
mel4600
Guest

« Reply #41 on: July 18, 2008, 11:09:13 AM »

What problem do you have with those numbers, specifically? I don't believe YOU know how the income tax  system works.

Moon,

I am a married self employed schedule C employee. Say I earn $75,000 per year. What is the federal governments total take on my income? We won't even get into the state.
Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #42 on: July 18, 2008, 01:12:37 PM »

Moon,

I am a married self employed schedule C employee. Say I earn $75,000 per year. What is the federal governments total take on my income? We won't even get into the state.

Figure out your own tax return. I get PAID to do that.

If you think somehow somebody making $400,000 pays a $140,000 in income taxes on it, you are wrong.
Report to moderator   Logged
mel4600
Guest

« Reply #43 on: July 18, 2008, 02:32:36 PM »

Figure out your own tax return. I get PAID to do that.

If you think somehow somebody making $400,000 pays a $140,000 in income taxes on it, you are wrong.

Moon,

If I were Moon, single & living in an apartment, my net schedule C income was $400,000, I would owe the IRS $141,709. If I were married and had 2 children with the same circumstances I would owe $132,009.

If your earnings were $75,000 under the same circumstances you would owe $23,278 if you were single and $15,294 if you were married with 2 children. Even at this level you are paying 31% and 20%.

Now you have to pay your state tax depending on where you live.



Report to moderator   Logged
edwarren
Guest

« Reply #44 on: July 18, 2008, 02:34:54 PM »

sounds like you need a good accountant.
Report to moderator   Logged
edwarren
Guest

« Reply #45 on: July 18, 2008, 02:46:10 PM »


Universal Health Insurance is a good thing.

Moon it's official since as reported in 2007.

US ranks 42nd in life expectancy behind every country in Europe except one and behind Jordan.


After spending a whopping $230,000,000,000 on health care,
Health experts say its because 43,000,000 have no health insurance.


 When it comes to health care, conservatives have made BAD INVESTMENTS.

Polls show Middle Americas greatest fear show is NO HEALTH INSURANCE and rising medical bills.

With Universal health Care and sensible preventive medicine  Americans can be MORE PRODUCTIVE and lead healthier lives. It's  a narrow rank conservative constitutuency that keeps Americans sick poor and without health care.







Report to moderator   Logged
mel4600
Guest

« Reply #46 on: July 18, 2008, 02:47:53 PM »

sounds like you need a good accountant.

edwarren,

For once you might be right! I'm going to hire Kenneth J. Chadwick to do my taxes!

Don't worry though, you can continue to cut my grass! thumbs up
Report to moderator   Logged
edwarren
Guest

« Reply #47 on: July 18, 2008, 02:52:29 PM »



I thought your wife cut yours.
Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #48 on: July 18, 2008, 02:57:29 PM »

Moon,

If I were Moon, single & living in an apartment, my net schedule C income was $400,000, I would owe the IRS $141,709. If I were married and had 2 children with the same circumstances I would owe $132,009.

If your earnings were $75,000 under the same circumstances you would owe $23,278 if you were single and $15,294 if you were married with 2 children. Even at this level you are paying 31% and 20%.

Now you have to pay your state tax depending on where you live.





Sounds like you need a LOT better accountant. If you were single, you would pay $116,600. About 29% of your income. And that's assuming no other deductions at all.

I only did this because your numbers sounded like BS. Normally, I charge a lot of money for this type of thing, unless I'm doing it gratis for the needy.


For your $75,000 in Schedule C income, you would pay $12,993 if you were single.

/Don't do your own taxes, mel.
« Last Edit: July 18, 2008, 03:05:03 PM by Moon » Report to moderator   Logged
Moon
Hero Member
*****
Posts: 11005

My new motto: Remain Vertical!




Ignore
« Reply #49 on: July 18, 2008, 03:00:44 PM »

Universal Health Insurance is a good thing.

Moon it's official since as reported in 2007.

US ranks 42nd in life expectancy behind every country in Europe except one and behind Jordan.


After spending a whopping $230,000,000,000 on health care,
Health experts say its because 43,000,000 have no health insurance.


 When it comes to health care, conservatives have made BAD INVESTMENTS.

Polls show Middle Americas greatest fear show is NO HEALTH INSURANCE and rising medical bills.

With Universal health Care and sensible preventive medicine  Americans can be MORE PRODUCTIVE and lead healthier lives. It's  a narrow rank conservative constitutuency that keeps Americans sick poor and without health care.









And again, businesses, especially SMALL businesses are shooting themselves in the foot. The one thing all businesses complain about is the rising cost of health insurance. It's the NUMBER ONE COMPLAINT. And here's their chance to completely get out of it, but oooooooooh, that's scary socialism.

Tongue
Report to moderator   Logged
Pages: 1 [2] 3 4 ... 6   Go Up
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.20 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!
Page created in 0.129 seconds with 16 queries.

Home
Upcoming events
Breeders' Cup
Horse slaughter in IL
Racing TV schedule
News Updates
Legislation

Galloping Out

Previous stories

Arlington
Balmoral
Hawthorne
Maywood
Chicago Sun-Times
Chicago Tribune
Blood-Horse
Daily Racing Form
Thoroughbred Times
Harness Link
Illinois Racing Board

 

2014

Breeders' Cup
Arlington Million
Triple Crown
Illinois Derby

2013

Breeders' Cup
Hawthorne Gold Cup
Arlington Million
Triple Crown
Illinois Derby

2012

Breeders' Cup
Hawthorne Gold Cup
Arlington Million
Triple Crown
Illinois Derby

More ebay items

 

Home | News Updates | Bloggers | Forums | Search
Resources | Links | Marketplace | Gallery | Advertising | Contact Us

Copyright © 2000-2014 Chicago Barn to Wire. All rights reserved.
Privacy policy