Posted by Have Wheels Will Travel - ΑΩ on Wed, Dec 3, 2014, at 12:59 PM:
I would like to make a prediction.... Common ain't gonna like this.
Replies (47)
I'll second that Wheels...
-- Posted by BonScott on Wed, Dec 3, 2014, at 1:08 PM
"...to make a prediction..."
How so? Republicans increasing taxes on the middle class, what else is new?
I have always been for tax reform.
-- Posted by commonsensematters on Wed, Dec 3, 2014, at 4:46 PM
Common defending taxes, what else is new?
-- Posted by Old John on Wed, Dec 3, 2014, at 8:27 PM
Why should there even be a question about the necessity of taxes. If you want no taxes, move to Somalia.
My position has been and remains to totally reform the tax code, to remove loopholes, rationalize deductions, treat all sources of income the same and lower rates.
-- Posted by commonsensematters on Thu, Dec 4, 2014, at 8:14 AM
I think everyone should pay the same rate on income taxes and quit trying to gouge others because they work harder/smarter? Would that please you Common?
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 8:29 AM
Common must mean loopholes like if you have a family of four and make $26 an hour, dropping to part time can qualify you for $1,000 month in subsidies through the exchanges. ACA is a tax on labor and drives down GDP and revenues collected.
[from Casey Mulligan speech Oct. Free Market Forum in Indianapolis]
-- Posted by Old John on Thu, Dec 4, 2014, at 9:33 AM
Our Federal tax system won't be fair to all until a Flat Tax is passed into law by Congress and signed by the President. This will ensure no loopholes and everyone who files a return pays the same percentage of income to the Treasury dept.
-- Posted by Truth Slinger on Thu, Dec 4, 2014, at 9:38 AM
Along with tax reform we need welfare reform. Obama has managed to "skirt" so many existing laws that with help from Congress who does not have the gonads to stand up for what is their job, that the Clinton and Republican Congress's "bipartisan" welfare reform has been totally neutered.
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 9:44 AM
Nothin' fair about a flat tax!
But I agree Wheels, welfare reform is needed. I think it needs to start at the bottom, with assessment and qualifying.
-- Posted by Reasoning on Thu, Dec 4, 2014, at 10:08 AM
-- Posted by Reasoning on Thu, Dec 4, 2014, at 10:08 AM
Why isn't a flat tax fair?
-- Posted by BonScott on Thu, Dec 4, 2014, at 10:10 AM
The only way a flat tax could work fairly is if everyone was starting from scrach. Like in Monopoly. No tax system can be completely fair until the web of loopholes is closed.
-- Posted by Reasoning on Thu, Dec 4, 2014, at 10:25 AM
"Nothin' fair about a flat tax!"
Reasoning, I certainly would like to see a little detail on your thinking there. What is fair about one class of taxpayer being assessed at 30% for example and another at 12% and another at less than 0%.... which is what the EITC is all about?
We are not talking about running a charity organization here we are talking about running a government for all of the citizens.
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 10:27 AM
-- Posted by Reasoning on Thu, Dec 4, 2014, at 10:25 AM
Reason: Guess if "Common" brought up the Flat Tax proposal then if would have been OK.
A Flat Tax has no deductions no loopholes and everyone is equal in paying a percentage (whatever is enacted) of their gross income. Now what's unfair about that.
-- Posted by Truth Slinger on Thu, Dec 4, 2014, at 10:37 AM
Common is consistent on his rant that Capital Gains should be taxed like ordinary income.
I think he is dead wrong. There should even be an inflationary factor built into Capital Gains. A brief understandable example.
In 1964 I paid just under $4000 for a very well equipped Ford. Fifty years later in 2014 if I purchase a well equipped Ford, what am I talking about maybe the $40,000 price range? These would be sticker prices.
So if in 1964 I paid $10,000 for an investment and in 2014 I sell that investment for $100,000.... should I, or should I not, have to pay any kind of tax on the $90,000 increase. I really have not made any money, I have just broke even with inflation as I see it.
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 10:38 AM
-- Posted by Have Wheels Will Travel - ÁÙ on Thu, Dec 4, 2014, at 10:38 AM
Wheels: All income from all sources will be the gross income on a person's income tax return under a Flat Tax system and subject to the fix percentage of taxing. The only persons hurt by this method will be the thousands of tax consultations and tax preparers who would be out of a job.
-- Posted by Truth Slinger on Thu, Dec 4, 2014, at 10:45 AM
Have to run sorry I cannot stay to help solve the "Fair Tax" issue.
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 10:47 AM
-- Posted by semo471 on Thu, Dec 4, 2014, at 10:45 AM
Semo471, my question what is really income on long term investments.
With my example, with my 1964 $10,000 dollars I could have bought 2 1/2 Fords and in 2014, I could still buy 2 1/2 Fords with my $100,000. Why should I have to pay taxes of any kind on the $90,000? If I paid taxes then maybe I could only by 2 1/4 Fords. Why should I be punished in this way?
Gotta go!
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 10:52 AM
-- Posted by semo471 on Thu, Dec 4, 2014, at 10:37 AM
Not at all. I am against it. You sure seem to have a chip on the shoulder when it concerns a certain poster.
scrach was supposed to be scratch
-- Posted by Reasoning on Thu, Dec 4, 2014, at 11:06 AM
-- Posted by Have Wheels Will Travel - ÁÙ on Thu, Dec 4, 2014, at 10:52 AM
Wheels: Income is income no matter how it was earned, as always those who "own it" to make a better life ends up paying more by making more.
-- Posted by Truth Slinger on Thu, Dec 4, 2014, at 11:09 AM
-- Posted by Reasoning on Thu, Dec 4, 2014, at 11:06 AM
Reason: No chip just the truth....think about it.
-- Posted by Truth Slinger on Thu, Dec 4, 2014, at 11:11 AM
Semo471
I think you are missing my point. The inflation factor works for the government in the example and the so called income once taxed leaves the taxpayer poorer in buying power. It is wealth transfer via the government who gives it away as welfare.
And Common wants an even larger share of it. A d here comes my lunch ticket.
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 11:48 AM
-- Posted by Have Wheels Will Travel - ÁÙ on Thu, Dec 4, 2014, at 11:48 AM
Wheels: I know what you are saying and I agree with you, what I am talking about is if and when we have a flat tax then all income is taxable by the same percentage.
-- Posted by Truth Slinger on Thu, Dec 4, 2014, at 12:49 PM
-- Posted by semo471 on Thu, Dec 4, 2014, at 12:49 PM
Semo471,
Yes on the taxing all regular income the same, but if you tax capital gains at that same rate I think you will kill investing to a degree because there is almost always a risk factor. Perhaps not though, if the regular rate is low enough, but it cannot get into the 30% range and have happy investors.
-- Posted by Have Wheels Will Travel - ΑΩ on Thu, Dec 4, 2014, at 4:11 PM
Wheels, I figure the money invested was already taxed when it was earned. Taxing it again only takes away incentive to invest in business that creates jobs.
-- Posted by Old John on Thu, Dec 4, 2014, at 6:50 PM
Here ya go Reason. The best $7.45 you've spent in a while.
-- Posted by We Regret To Inform U on Thu, Dec 4, 2014, at 9:18 PM
Neal Boortz is awesome. His radio show was great, but I think he's retired now. Is that correct Regret?
-- Posted by BonScott on Sat, Dec 6, 2014, at 8:45 AM
Neal retired but has a daily thing on the net each day and takes Cains place 3 or 4 times a year. The reason no one else uses him is he a tough act to follow.
-- Posted by We Regret To Inform U on Sun, Dec 7, 2014, at 6:16 PM
One guy I do like is Jammie Dupree. If he had a show I would be a daily listener. He like Boortz would call it the way it is.
-- Posted by We Regret To Inform U on Sun, Dec 7, 2014, at 6:27 PM
Dupree has expanded his reporting. He will stand up and correct both sides when the BS starts. Boortz got him his fame but he never let Boortz sway his reporting into biased opinion.
-- Posted by Old John on Sun, Dec 7, 2014, at 6:51 PM
Regret and OJ, if you ever get the chance, check out the Wilkow Majority on satellite radio channel 125. Andrew Wilkow is the host. He is spot on with his analysis and he's a constitutional conservative. He's pretty impressive.
-- Posted by BonScott on Sun, Dec 7, 2014, at 7:32 PM
BonScott, Before I ever found anything to listen to on satellite radio, I was already there, thus I let it expire.
When my business had me on the road 12 hours per day, that would have been a good option. It came a bit late.
I have been trying to keep up with what's coming down the pike regarding technology in communication and it's enough to make an old man's head pop. The old saying that it only takes seven people to connect to anyone in the world becomes anybody anywhere anytime.
My take on all that is to worry about the potential of a world wide propaganda of control that will not be good. Then that would just be me projecting from the grave.:)
-- Posted by Old John on Sun, Dec 7, 2014, at 7:53 PM
-- Posted by ✴Rick on Mon, Dec 8, 2014, at 3:36 AM
Rick: That would be true as long as governments don't control the Internet.
-- Posted by Truth Slinger on Mon, Dec 8, 2014, at 9:27 AM
-- Posted by ✴Rick on Mon, Dec 8, 2014, at 10:31 AM
Rick: Hopefully the hackers won't get into the speakout columns and cause havoc.
-- Posted by Truth Slinger on Mon, Dec 8, 2014, at 11:10 AM
Hopefully the hackers won't get into the speakout columns and cause havoc. -- Posted by semo471 on Mon, Dec 8, 2014, at 11:10 AM
Some have tried and been successful. Liberals... or as Rick says "Obamerals". I have personally had my personal information taken and used from a couple of posters on here. Disgusting.
-- Posted by not_sorry on Mon, Dec 8, 2014, at 11:33 AM
"He will stand up and correct both sides when the BS starts."
That I agree with. I recall Jammie Dupree calming Boortz down when NB got into one of his Limbaugh-like rants.
Jammie is now on Hannity sometimes, but from what I've heard, it seems that Hannity must have established a ground rule saying the Hannity would not be corrected.
-- Posted by commonsensematters on Mon, Dec 8, 2014, at 3:37 PM
Common, You forgot to mention
Ted Cruz. :)
Seriously, I agree with most of Boortz' rants but he is sometimes a bit intolerant to other opinions.
I find Hannity too interested in being right all the time.
-- Posted by Old John on Mon, Dec 8, 2014, at 3:54 PM
I'm hoping that the "being right" refers to the political "right" rather than "being correct."
-- Posted by commonsensematters on Tue, Dec 9, 2014, at 9:35 AM
"Hard work pays off."
Rick,
Indeed it does. I was thinking much the same thing this morning. I never inherited enough money to buy a dependable used car, but my parents who were the best two people God ever put on earth taught me the value of work along with moral values.
I think I can hear you saying... you can live with yourself and who you are. I feel the same, and it is a good feeling.
I hope that does not come off as pontificating, it is not meant to be. One does not have to accumulate great wealth to feel rich.
-- Posted by Have Wheels Will Travel - ΑΩ on Tue, Dec 9, 2014, at 11:33 AM
Just so we don't all start feeling complacent in our own little universe, you might want to consider this. You may have already seen it. Someone sent it to me today, but I have seen it before.
-- Posted by Have Wheels Will Travel - ΑΩ on Tue, Dec 9, 2014, at 11:45 AM
I hope that does not come off as pontificating, it is not meant to be. One does not have to accumulate great wealth to feel rich.
-- Posted by Have Wheels Will Travel - ÁÙ on Tue, Dec 9, 2014, at 11:33 AM
Well, it's been a while, but we agree.
-- Posted by Reasoning on Tue, Dec 9, 2014, at 11:59 AM
-- Posted by ✴Rick on Tue, Dec 9, 2014, at 3:56 PM
Rick: Getting to look more and more like "1984"....Big Brother is watching you.
-- Posted by Truth Slinger on Tue, Dec 9, 2014, at 6:49 PM
Rick, is this the tax credits I've seen you post about? This is just for 2013. Wonder about past years. How many bogus claims will be paid for 2014 tax year?
The IRS paid at least $6 billion in child tax credits in 2013 to people who weren't eligible to receive them, a government investigator said Tuesday.
Payments went to families that mistakenly claimed the tax credit or claimed the wrong amount, as well as taxpayers who committed fraud, according to an audit by J. Russell George, the Treasury inspector general for tax administration.
The audit highlights problems with a tax credit that President Barack Obama has championed as a way to help low-income working families.
Obama's 2009 economic stimulus package temporarily expanded the credit to more families that don't make enough money to pay federal income tax. The expanded credit expires at the end of 2017.
These families receive the $1,000-per-child credit in the form of a tax refund. The report released Tuesday focused on payments to these families.
For years the IRS has said the risk is low for improper payments related to the child tax credit. The report says that assessment is incorrect.
"It is imperative that the IRS take action to identify and address all of its programs that are at high risk for improper payments," George said in a statement.
In a statement, the IRS aid it "continues to aggressively explore new ways to detect and stop potentially fraudulent claims while maximizing the use of limited compliance resources."
However, the agency said budget cuts are hurting compliance efforts.
"IRS funding limitations severely hamper our efforts on these and other compliance areas," the agency statement said. "Since 2010, the IRS budget has been reduced by $850 million and we have 13,000 fewer employees."
Earlier this year, the IRS said fewer agents are auditing tax returns than at any time since at least the 1980s.
More than 36 million families claimed about $57 billion in child tax credits in 2013, according to the nonpartisan Joint Committee on Taxation.
The inspector general's report estimates that taxpayers improperly claimed between $5.9 billion and $7.1 billion in child tax credits that year. The report, however, does distinguish between fraud and credits that were claimed by mistake.
Read Latest Breaking News from Newsmax.com
-- Posted by FreedomFadingFast on Tue, Dec 9, 2014, at 7:42 PM
FFF. I'm confused again. Does this mean we need to give the government more tax money so they can reduce the amount of tax money they are wasting?
-- Posted by Old John on Tue, Dec 9, 2014, at 9:27 PM
FFF. I'm confused again. Does this mean we need to give the government more tax money so they can reduce the amount of tax money they are wasting?
-- Posted by Old John on Tue, Dec 9, 2014, at 9:27 PM
Old John, I don't think you are as confused as our government is.
-- Posted by FreedomFadingFast on Fri, Dec 12, 2014, at 5:15 PM
The Federal government is a "money pit". Also, in astronomy terms a "black hole" where all tax payer's money is sucked into.
-- Posted by Truth Slinger on Fri, Dec 12, 2014, at 6:12 PM
FFF, Your post of Tue, Dec 9, 2014, at 7:42 PM says a lot. Notice the standard excuse that funding has been cut, the fault of that rascally do nothing house that caused the sequestration that Obama was for. I can't wait for this to be Bush's fault as Nancy explained to the house in her appeal to get the dems to oppose the bill that left out her pork. :)
-- Posted by Old John on Fri, Dec 12, 2014, at 8:19 PM
..btw , is that a pic of Barbara Bush on the front of a dollar bill ?
-- Posted by ✴Rick on Sat, Dec 13, 2014, at 5:50 AM
Careful there Rick, you're talking about a Lady that still had some of the spunk left in her that some of our Grannies had. :-)
-- Posted by Have Wheels Will Travel - ΑΩ on Sat, Dec 13, 2014, at 8:09 AM
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I would like to make a prediction.... Common ain't gonna like this.
Replies (47)