My brain hurts.
This is a discussion on Just in the nick of time! within the Off Topic & Humor Discussion forums, part of the The Back Porch category; We are gonna save the economy with voluntary contributions to pay down the debt with payroll deduction! (By the way, your contributions in this case, ...
We are gonna save the economy with voluntary contributions to pay down the debt with payroll deduction! (By the way, your contributions in this case, are NOT tax deductible.)
Whew, and here I was worried the government might shut down as a result of debt default.
Don't take my word for it, your congressmen (Mr. CRAWFORD (for himself, Mr. TIBERI, Mr. FINCHER, Mr. LANDRY, Mr. DENHAM, Mr. DOLD, Mr. FLORES, Mr. GRIFFIN of Arkansas, Mr. AUSTIN SCOTT of Georgia, Mr. HUIZENGA of Michigan, Mr. PALAZZO, and Mr. GUINTA) introduced the following bill; which was referred to the Committee on Ways and Means.
It's called "Reduce America's Debt Now Act of 2011."
The full details can be seen here:Bill Text - 112th Congress (2011-2012) - THOMAS (Library of Congress)
Does anybody wonder why I will always vote out the incumbents?
It could be worse!
My brain hurts.
"For the Lord your God will bless you in all your harvest and in all the work of your hands." Deuteronomy 16:15
I think those mega-wealthy members of Congress who are the ones who ran up the debt should be the first to enroll. Very generously.
I watched on MSNBC, a video of a Congressman speaking about tax breaks for the rich and stating that the poor and working class need to step up and pay a greater share as they've had it too easy for too long. Even the reporter had to comment on how disconnected this wealthy, elitist political leach was. When the economy tanks those who are responsible for spending our tax money should be responsible for making up the deficit!
Its just time to clean house. By the pen or by the sword, it doesnt matter at this point. It needs to be done.
"Just blame Sixto"
Here's a tax fable - apocryphal, but it's pretty close to how the US income tax is applied:
Suppose that everyday 10 men go to the same place for lunch every day. The bill for all ten comes to $100. If it were paid the way we pay our taxes, the first four men would pay nothing; the fifth would pay $1; the sixth would pay $3; the seventh $7; the eighth $12; the ninth $18. The tenth man (the richest) would pay $59. The 10 men ate lunch in the restaurant every day and seemed quite happy with the arrangement until the owner threw them a curve.
"Since you are all such good customers," he said, "I'm going to reduce the cost of your daily meal by $20." Now lunch for the 10 would costs only $80. The first four are unaffected. They still eat for free. Can you figure out how to divvy up the $20 savings between the remaining six so that everyone gets his fair share?
The men realize that $20 divided by 6 is $3.33, but if they subtract that from everybody's share, then the fifth and the sixth man would end up being paid to eat their meal. The restaurant owner suggested that it would be only fair to reduce each man's bill by roughly the same amount that each paid and he started to work out the amounts each should pay.
And so the fifth man paid nothing, the sixth pitched in $2, the seventh paid $5, the eighth paid $9, the ninth paid $12, leaving the tenth man with a bill of $52 instead of $59. Outside the restaurant, the men began to compare their savings.
"I only got a dollar out of the $20," declared the sixth man pointing to the tenth, "and he got $7!"
"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got seven times more than me!"
"That's true," shouted the seventh man. "Why should he get $7 back when I got only $2? The wealthy get all the breaks."
"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor."
The nine men surrounded the tenth man and beat him up. The next day he didn't show up for lunch, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important: They were $52 short!
OK, so much for illustrative fables. Here are some facts.
Americans whose income level is in the lower 50% of all American taxpayers pay only 3% of all the income taxes collected. These workers account for 13% of all the income in the US.
But Americans in the top 10% income level, who account for 66% of American income, pay 68% of all the income taxes collected. So if you arbritrarily define Americans in the top 10% income level as "the wealthy," then it's the wealthy who are already paying a disproportionate share of American taxes. When I see numbers like that, I get real interested in a flat tax - everyone pays the same rate.
While on paper “tax cuts for the rich” seems unfair, the truth of the matter is that when the marginal tax rates for the wealthiest Americans are cut, and capital gains taxes are cut, there is more investment by American businesses and a stronger stock market. This is where wealth is created – and that increased wealth is taxed . From 2003 to 2005, the number of Americans reporting income greater than $1 million increased from 180,000 to over 300,000, and their total tax bite paid into the US Treasury increased from $132 billion to $236 billion.
Guess Who Really Pays the Taxes — The American Magazine
NRA Endowment Member
NROI Chief Range Officer
I'm so glad I'm not rich or I would be as poor as I am now
"Outside of the killings, Washington has one of the lowest crime rates in the country,"
--Mayor Marion Barry, Washington , DC .
So please tell me why the wealthy shouldn't be paying that much? If you don't want to pay 68% of the taxes, stop making 66% of the income.
64,999,987 firearms owners killed no one yesterday.
Trust in God and keep your powder dry
"A heavily armed citizenry is not about overthrowing the government; it is about preventing the government from overthrowing liberty. A people stripped of their right of self defense is defenseless against their own government." -source
Nah. Not as long as its still legal to speak the truth.Strong words friend. I hope big brother isn't watching. If you see black helicopters following you tomorrow you'll know why.
...Although some hangings would go a long way to making sure that things got corrected in a nice quick manner.
Dang Sixto...if I keep giving you "likes" you'll soon have more than me...