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jayterrier
Qualified Rookie
offline
Registered: Feb 2003
Local time: 11:17 AM
Location:
Posts: 26
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How is it that almost every time a dollar changes hands (legally) the government can make anywhere from 4 cents to 35 cents? As that dollar continues to change hands, the duration of its life, the government continues to make money off of it. By the end of its circulation the government could make, conceivably, up to 10 dollars or more. Imagine that. Stagnant money is worthless, not only to our government, but to us and our economy. Now here's the weird part. As far as money and economy goes, debt is good. If all the debt were paid off, our banking system and likewise our economy would no longer be based on money. Without debt, there is no need for money. Without money, our present system of exchanging goods (Wal-Mart) would not exist. I cannot imagine trading a bushel of beans for electronics. What would we do without money?
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07-05-2004 01:35 AM
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Ken NJ
INReview Maven
offline
Registered: Dec 2003
Local time: 06:17 AM
Location: NJ
Posts: 4930
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Our present level of taxation imposes penalty for working hard and gives more incentives to be a credit junkie and deadbeat.
Actually, taxes are paid not just when you make income. They get you coming, going and unemployed for breathing the air too. The same dollar gets taxed repeated and more invisibly that it gets scarey.1. If you get paid, the government wants to get paid.... so goes income taxes for the State and Federal Government.... say Federal up to 10% to 35% IRS plus State, a couple more percent up to 11% Montana, Oregon 9%, California 9.3%, NY 7.7% and NJ 6.37% and others. (< -- Just Click Here)
7 States with NO INCOME TAX are Alaska, Florida, Nevada, S Dakota, Texa, Washington and Wyoming.
2. If you spend that AFTER-taxed dollar.... it gets taxed at the State tax level again for Sales taxes... say 6 to 8 (NYC) percent once more. (< -- Click Here)
3. If you own, rent or inhabitate anywhere in civilization other than a cave, you have to pay real estate taxes on the property... and sometimes they go up more than the normal cost of living index. A larger percentage of U.S. population each year pay more local property and nuisance taxes then what they pay in income taxes to the State and to the Federal Government. Income tax rates are coming down but local property taxes are going up. When you pay more to stay under the roof than income taxes, something is definitely WRONG because you don't get much in return for local services whom are subsidized by both the State and Federal Government anyway. Don't take it sitting down and being silent...
http://www.bendover.com/2004taxes.asp
So if you are self-employed, live in house and have phone etc, you can be taxed at rate 70% of income before paying for property taxes (social security tax, medicare tax, sales tax.) And if you are paying your property taxes almost half of your income taxes, you in effect are paying over 100% of your income to the government in some form or other. So debt rather than income pays the lowest rate of taxes.
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02-20-2005 07:15 PM
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