"We'll need to raise taxes soon" (Full Version)

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EStan -> "We'll need to raise taxes soon" (7/1/2009 12:00:55 AM)

Opinion piece here.

What exactly is a 'value-added tax'? Does this mean middle America will be paying [sm=icon_smile_yikes.gif] higher taxes?



_jjp_ -> RE: "We'll need to raise taxes soon" (7/1/2009 6:00:13 AM)

No silly, Obama promised us that no one making under $250,000 would see any tax increase.



SonInMe1 -> RE: "We'll need to raise taxes soon" (7/1/2009 7:52:31 AM)

Obama needs more tax dollars.

The best way to do that is to lower taxes....esspecially on the rich/business owners.



LizzieJ. -> RE: "We'll need to raise taxes soon" (7/1/2009 8:20:44 AM)

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


My husband is concerned that if taxes are rasied on Mr. R to much his commission will be cut down or worse yet they will give him a pink slip and hire two people to do his job paying them less them less than it cost Mr R to keep him on the payroll. My husband is fearful of being more productive!



EStan -> RE: "We'll need to raise taxes soon" (7/1/2009 8:57:53 AM)

quote:

ORIGINAL: LizzieJ.

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


My husband is concerned that if taxes are rasied on Mr. R to much his commission will be cut down or worse yet they will give him a pink slip and hire two people to do his job paying them less them less than it cost Mr R to keep him on the payroll. My husband is fearful of being more productive!


Perhaps Mr. Obama's goal is even wages for all, regardless of productivity. If everybody earns the same, nobody feels compelled to try harder.



earthless -> RE: "We'll need to raise taxes soon" (7/1/2009 9:02:05 AM)

quote:

ORIGINAL: EStan

Perhaps Mr. Obama's goal is even wages for all, regardless of productivity. If everybody earns the same, nobody feels compelled to try harder.


Yes



phreddy -> RE: "We'll need to raise taxes soon" (7/1/2009 9:14:49 AM)

A value added tax(VAT) is kind of like our sales taxes except the taxes are added at every stage of production that "adds" value. For a piece of clothing, it could be taxed when the cloth is weaved, when the cloth is treated and dyed and also when the garment is cut and sewed. It is basically a more expansive take on the sales tax.

I don't think a VAT would be bad if it replaced our income tax, but the article in questions seems to be suggesting this as an additional tax.



EStan -> RE: "We'll need to raise taxes soon" (7/1/2009 9:23:43 AM)

quote:

ORIGINAL: phreddy

A value added tax(VAT) is kind of like our sales taxes except the taxes are added at every stage of production that "adds" value. For a piece of clothing, it could be taxed when the cloth is weaved, when the cloth is treated and dyed and also when the garment is cut and sewed. It is basically a more expansive take on the sales tax.

I don't think a VAT would be bad if it replaced our income tax, but the article in questions seems to be suggesting this as an additional tax.


Therefore, consumers pay more for that same piece of cloth - in the form of, let's say, a pair of denim jeans - and the additional revenue that has been added along the way from cotton thread to Levi 501s is collected by the federal government. Since I'm still making the same amount of money, a greater percentage of my take-home pay goes into the public coffers.



LizzieJ. -> RE: "We'll need to raise taxes soon" (7/1/2009 9:28:54 AM)

The less money you earn the greater the percentage of your income is going in taxes?[:o]

My dollar will have less buying power? My lifestyle is going to be reduced even more?

(I guess that means rice with NO BEANS)



phreddy -> RE: "We'll need to raise taxes soon" (7/1/2009 9:48:33 AM)

The VAT is a comsumption tax, and yes, it will make goods and services cost more for the consumer. It is better than an income based tax that taxes savings and investment. Consumption taxes can be more regressive in nature if they tax necessities. However, you can control how much tax you pay by controlling your personal spending. Adding a VAT on top of our income taxes would not be good for the economy and it would just feed the spending junkies in Washington. It would not be that bad of an idea if it replaced our income taxes.



Lapidoth -> RE: "We'll need to raise taxes soon" (7/1/2009 10:01:27 AM)

quote:

ORIGINAL: earthless

quote:

ORIGINAL: EStan

Perhaps Mr. Obama's goal is even wages for all, regardless of productivity. If everybody earns the same, nobody feels compelled to try harder.


Yes


Little Red Hen syndrome.



LizzieJ. -> RE: "We'll need to raise taxes soon" (7/1/2009 10:16:45 AM)

quote:

However, you can control how much tax you pay by controlling your personal spending.


I can work as hard as I want. They only "zap me" if I try to enjoy the fruits of my labor?

If they add this to the income tax they zap me when I work hard and zap me when I try to enjoy the little left over?[:@]

Don't we just LOVE this new President!



Lapidoth -> RE: "We'll need to raise taxes soon" (7/1/2009 10:19:04 AM)

quote:

ORIGINAL: EStan

quote:

ORIGINAL: phreddy

A value added tax(VAT) is kind of like our sales taxes except the taxes are added at every stage of production that "adds" value. For a piece of clothing, it could be taxed when the cloth is weaved, when the cloth is treated and dyed and also when the garment is cut and sewed. It is basically a more expansive take on the sales tax.

I don't think a VAT would be bad if it replaced our income tax, but the article in questions seems to be suggesting this as an additional tax.


Therefore, consumers pay more for that same piece of cloth - in the form of, let's say, a pair of denim jeans - and the additional revenue that has been added along the way from cotton thread to Levi 501s is collected by the federal government. Since I'm still making the same amount of money, a greater percentage of my take-home pay goes into the public coffers.


If we simply analyze it, it's taking away the "for resale" tax exemption.

I buy something and pay taxes on it.
I build something out of that and charge taxes on it.
My customer buys my product and pays taxes on it.
His customer buys from him and pays taxes on it.
So public Joe is paying taxes on taxes.

So, it's just more "hidden" taxes added to the hidden taxes
already in place. The government is always disguising the
ways they just dip into our pockets.

At least the sheriff of Knottingham just sent his thugs out
to take the peasants money away from them. He didn't
call it by fancy names to steal from the public.



todd_t -> RE: "We'll need to raise taxes soon" (7/1/2009 11:43:14 AM)

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


Bush did this twice (to my recollection) during his time in office, and the economy still tanked.

Contrary to what many righties think, tax cuts are not the magic bullet to cure all economic ills that they claim it is.



EStan -> RE: "We'll need to raise taxes soon" (7/1/2009 11:59:12 AM)

quote:

ORIGINAL: todd_t

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


Bush did this twice (to my recollection) during his time in office, and the economy still tanked.

Contrary to what many righties think, tax cuts are not the magic bullet to cure all economic ills that they claim it is.


Todd, do you think Americans (some or all) should pay more taxes? Do you really believe this will help our economy?

As Phreddy stated, if this VAT is implemented, and I don't want to pay it, all I have to do is not buy anything. What does that do for our economy?



_jjp_ -> RE: "We'll need to raise taxes soon" (7/1/2009 12:20:33 PM)

quote:

ORIGINAL: todd_t

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


Bush did this twice (to my recollection) during his time in office, and the economy still tanked.

Contrary to what many righties think, tax cuts are not the magic bullet to cure all economic ills that they claim it is.


But after the tax cuts the federal governments income increased to some of the largest in history. If just couldn't keep up with Bush's spending habits. How exactly is adding more taxes to an already failing economy going to make things better?



_jjp_ -> RE: "We'll need to raise taxes soon" (7/1/2009 12:22:41 PM)

quote:

ORIGINAL: EStan

As Phreddy stated, if this VAT is implemented, and I don't want to pay it, all I have to do is not buy anything. What does that do for our economy?


It will not only decrease the buying power of the dollar but cause people to want to buy less since they would be penalized for it. So you will have people spending less which would hurt businesses worse and destroy the economy even worse.



EStan -> RE: "We'll need to raise taxes soon" (7/1/2009 12:44:50 PM)

quote:

ORIGINAL: _jjp_

quote:

ORIGINAL: EStan

As Phreddy stated, if this VAT is implemented, and I don't want to pay it, all I have to do is not buy anything. What does that do for our economy?


It will not only decrease the buying power of the dollar but cause people to want to buy less since they would be penalized for it. So you will have people spending less which would hurt businesses worse and destroy the economy even worse.


Hmmmmm, sounds suspiciously like the situation we're in now, doesn't it? [;)]



LizzieJ. -> RE: "We'll need to raise taxes soon" (7/1/2009 12:51:45 PM)

Just go ahead and hit me with it now!

I am never going to be able to eat out again! I am going to be a slave to my kitchen.[:@]

Vacations are a thing of my past. Never to be enjoyed again other than in my memories![:(]

I can never keep my home as cools as it is now![&:]

My car is the best one I will ever own![>:]

My dreams of a better future will not come into existance![X(]

__________

On the bright side. Obama and his wife still get to have $50K date nights, million dollar personal home, private schools for their children and private medical care that is much better than what some of us are going to be dumped into when our employer does the math![:D]



_jjp_ -> RE: "We'll need to raise taxes soon" (7/1/2009 12:57:29 PM)

quote:

ORIGINAL: LizzieJ.

Just go ahead and hit me with it now!


careful what you wish for.

quote:

Vacations are a thing of my past. Never to be enjoyed again other than in my memories![:(]


Why do you need vacation, you will be in a workers paradise where everyone is happy to work for the same wage.

quote:

I can never keep my home as cools as it is now![&:]


Air Conditioning will be limited to government offices

quote:

My car is the best one I will ever own![>:]


Don't worry a portion of your income will be witheld to pay for the mandatory plug in hybrid you will be driving.

quote:

My dreams of a better future will not come into existance![X(]


Don't you see, daddy gummit is coming to give you a better future.



aslouie -> RE: "We'll need to raise taxes soon" (7/1/2009 1:04:53 PM)

quote:

ORIGINAL: todd_t

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


Bush did this twice (to my recollection) during his time in office, and the economy still tanked.

Contrary to what many righties think, tax cuts are not the magic bullet to cure all economic ills that they claim it is.

'sounds like a prior thread I posted not too long ago--though I will only, ONLY go with higher taxes, PROVIDED they cut down on government spending; only then would it be possible to raise the dollar's value, and maybe--just maybe then, will lower taxes will work in the economy's favor... but then again, as I said before, I never had an econ class in all my academic life; go figure--as a product of the Los Angeles public school system![8D]



aslouie -> RE: "We'll need to raise taxes soon" (7/1/2009 1:06:21 PM)

BTW: could this already be the beginning of Obama's first and last term in office (as some, if not many friends, pundits have been saying all along)?[sm=crazy.gif]



EStan -> RE: "We'll need to raise taxes soon" (7/1/2009 2:24:51 PM)

quote:

ORIGINAL: EStan

quote:

ORIGINAL: todd_t

quote:

The best way to do that is to lower taxes....esspecially on the rich/business owners.


Bush did this twice (to my recollection) during his time in office, and the economy still tanked.

Contrary to what many righties think, tax cuts are not the magic bullet to cure all economic ills that they claim it is.


Todd, do you think Americans (some or all) should pay more taxes? Do you really believe this will help our economy?

As Phreddy stated, if this VAT is implemented, and I don't want to pay it, all I have to do is not buy anything. What does that do for our economy?


Oh well, I guess our liberal friend Todd has no more to say on the subject. [8D]



LizzieJ. -> RE: "We'll need to raise taxes soon" (7/1/2009 2:29:44 PM)

He is trying to figure out what a comic book will cost if we have a VAT tax imposed on us.

I have a feeling fewer people will be able to afford one.



earthless -> RE: "We'll need to raise taxes soon" (7/1/2009 3:21:16 PM)

Hiyoh!



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