Recession coming

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I just am sick of excuses. I think taxing someone more because they make more money is ludacris. Fosco hit the nail on the head with his post several months back.

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A progressive tax system has been the foundation of America's tax system. They make more money, therefore they pay more taxes.

What stymies me is the President's tax position is that the best way to economically help the middle class, the working class and the poor is to provide more tax breaks for the very wealthy.

It is just a recycled version of Ronald Reagan's "Trickle Down" theory. As long as America takes care of the wealthy, the financial benefits will "Trickle Down" to the rest of American Society.

That's why we should have fair tax. It is fair to all parties as the amount you spend dictates the amount you're taxed. Not only that, but it also taxes all the people who don't fill out the paper work currently, and all the illegal immigrants as well.

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The social security tax is anal penetrator numero uno for the lower/middle class earner.

So abolish it altogether. Good riddance.

See now that I don't know about. There are plenty of older people who are handicapped from the lack of quality health care back then who gave their good health for our freedom in the form of WW2, Vietnam, etc.

Since the baby boomers are going to take all the money anyway, I think they should start phasing it out so that by the time the baby boomers are dying off no one in paying into it anymore.

It kind of sucks for my generation that will have paid into it and won't get anything back, but it would be a disservice for those that need it currently.

My generation is young enough that we can fund our retirements ourselves if we start today.

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I think Scott is an elitist jerk...unless I win the Powerball this weekend. Then I'll be pissed that most of my winnings will be taxed to fuel Harlan's socialist agenda.

Why?

Because he doesn't think he should have to more in taxes that you? He doesn't use the roads, use the water, send his kids to school on any more buses, or require extra teachers than your kids.

Why should someone that makes 150,000 pay a higher pecentage of taxes when a flat tax percentage would already be more money than someone that makes 50,000?

Why should they even pay the same percentage? That is dumb. He doesn't use the services any more than anyone else yet is penalized for probably working twice as many hours, having twice as much higher education, and working twice as hard. I think its bullshit.

If people don't have enough money to get by, then perhaps they should consider going back to school and working a little bit harder to make more money. My belief is there is plenty of money to be made in the world, but people aren't willing to do what it takes to make it.

When I look at my friends parents who do very well for themselves, I see people that dedicate more time to their families, more time to their work, and more time to themselves than your average 50k worker. They accomplish this because they are not lazy and work hard in everything that they do. I don't see them wasting 6 hours a day watching TV or surfing the internet, I see them living very full, busy lives.

Also, I think they're quite a bit more responsible with money. My grandpa has always told me that being well off has nothing to do with how much money you make, its how you live your life. He is 100% accurate.

[GrnBay007]

Or better yet, if you're not in a committed, healthy marriage with someone you can trust long term, you shouldn't have kids.

I sure hope you have that perfect life you have planned out for yourself because I certainly don't think you will be able to handle adversity with your tunnel vision.

[Harlan Huckleby]

Why should someone that makes 150,000 pay a higher pecentage of taxes when a flat tax percentage would already be more money than someone that makes 50,000?

Why should they even pay the same percentage? That is dumb. He doesn't use the services any more than anyone else yet is penalized for probably working twice as many hours, having twice as much higher education, and working twice as hard. I think its bullshit.

Mailman was just joking.

But I will try to answer your questions, grasshopper. The concept is that we will all help each other to some extent to improve society, and because we can accomplish things working together (like raise an army to defend the country) that couldn't be done as individuals. You may not agree with this value of contributing to the social good, but that's the explanation.

Most people believe that the social burden should be shared relatively equally. That's why taxes are done as a percentage. A $10,000 tax bill for you is a far greater burden than a $10,000 tax bill for Bill Gates. Again, I understand that you oppose this on philosophical grounds, but that is how most people think.

In actuality rich people pay a significantly lower percentage of their income in taxes than working people, so the system does not meet the standards of fairness that people have generally agreed upon. Perhaps this has something to do with wealthy people having greater influence in government? I don't know, just a thought.

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Or better yet, if you're not in a committed, healthy marriage with someone you can trust long term, you shouldn't have kids.

I sure hope you have that perfect life you have planned out for yourself because I certainly don't think you will be able to handle adversity with your tunnel vision.

I handle adversity just fine. I do what it takes to get by. I bet if you'd look at statistics of people who don't make enough money to support a family, most of them had their kids too young, and as a result weren't mature enough for their marriage to be a success, and they probably don't have a college degree let alone a masters or better degree.

My philosophy is if you're not winning, you're losing. I have no sympathy for losers because they have every opportunity to get on top of the world and hump it into submission, but they choose not to. Higher education is practically free if you don't make 30 grand a year and aren't a dependent. Why anyone wouldn't pursue this is beyond me.

[Harlan Huckleby]

Higher education is practically free if you don't make 30 grand a year and aren't a dependent. Why anyone wouldn't pursue this is beyond me.

You mean because grants are widely available? I think not.

[Partial]

Why should someone that makes 150,000 pay a higher pecentage of taxes when a flat tax percentage would already be more money than someone that makes 50,000?

Why should they even pay the same percentage? That is dumb. He doesn't use the services any more than anyone else yet is penalized for probably working twice as many hours, having twice as much higher education, and working twice as hard. I think its bullshit.

Mailman was just joking.

But I will try to answer your questions, grasshopper. The concept is that we will all help each other to some extent to improve society, and because we can accomplish things working together (like raise an army to defend the country) that couldn't be done as individuals. You may not agree with this value of contributing to the social good, but that's the explanation.

Most people believe that the social burden should be shared relatively equally. That's why taxes are done as a percentage. A $10,000 tax bill for you is a far greater burden than a $10,000 tax bill for Bill Gates. Again, I understand that you oppose this on philosophical grounds, but that is how most people think.

In actuality rich people pay a significantly lower percentage of their income in taxes than working people, so the system does not meet the standards of fairness that people have generally agreed upon. Perhaps this has something to do with wealthy people having greater influence in government? I don't know, just a thought.

Except it shouldn't be a percentage. That isn't fair. Thus the need for fair tax, a tax system that IS fair.

[Harlan Huckleby]

There was an amazing story in paper today. I guess they can pull it off because they are so generously endowed. (here come the wise guys) :

MIT OKs Plan to Offer Tuition-Free Break

CAMBRIDGE, Mass. (AP) — The Massachusetts Institute of Technology says undergraduates whose families earn less than $75,000 a year will not have to pay tuition.

The school says in its plan approved Friday that students will also not be expected take out loans beginning next academic year.

The plan is the latest move by elite U.S. universities to cut costs for middle class families. It is expected to cover about 30 percent of MIT's 4,000 undergraduates.

The university is increasing its financial aid budget by $7 million to $74 million a year and students who have work-study jobs as part of their aid will work fewer hours.

The school says tuition and fees will go up next year by 4 percent to $36,390.

[GrnBay007]

I handle adversity just fine. I do what it takes to get by. I bet if you'd look at statistics of people who don't make enough money to support a family, most of them had their kids too young, and as a result weren't mature enough for their marriage to be a success, and they probably don't have a college degree let alone a masters or better degree.

I support my family just fine on my own. I did not have kids at a young age and I was most definitely mature enough to get married (not that maturity by any means defines a successful marriage) and I do have a college degree. My whole point in adding my two cents to this is that you don't seem to be able to look outside the box. Just curious, you handle adversity just fine....or haven't yet been faced with it? Huge difference.

[Scott Campbell]

He's a powerful man who sponsors people in high places, and he's out to destroy our way of life.

I thought your life sucked, and that destroying it would be doing you a favor.

[Scott Campbell]

I think Scott is an elitist jerk...unless I win the Powerball this weekend. Then I'll be pissed that most of my winnings will be taxed to fuel Harlan's socialist agenda.

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Higher education is practically free if you don't make 30 grand a year and aren't a dependent. Why anyone wouldn't pursue this is beyond me.

You mean because grants are widely available? I think not.

Are you kidding me? Someone I lived with in college went to school for about a grand a semester.

[Scott Campbell]

A progressive tax system has been the foundation of America's tax system. They make more money, therefore they pay more taxes.

That's not my understanding of progressive taxes. People earning more pay more taxes even with a flat tax. I believe the wealthy should pay more than the poor. But I don't believe in a 35% tax bracket. That's insane.

A progressive tax is where tax percentage rates rise as you earn more. Not only do you pay more, you actually pay a higher percentage. I believe this type of progressive tax scheme to be a disincentive to working hard and earning more.

I also believe that trickle down economics set the table for the unprecedented economic growth of the 90's. It wasn't a matter of taking care of the rich. There were additional tax incentives offered for them to invest in their businesses. Which grew the economy. Which helped out everybody.

Lastly, if MIT is $40K a year, and I make $125 a year - guess what? I'll take the last 5 months off work - quitting at $75K. After taxes, it'd be a wash.

[Partial]

I handle adversity just fine. I do what it takes to get by. I bet if you'd look at statistics of people who don't make enough money to support a family, most of them had their kids too young, and as a result weren't mature enough for their marriage to be a success, and they probably don't have a college degree let alone a masters or better degree.

I support my family just fine on my own. I did not have kids at a young age and I was most definitely mature enough to get married (not that maturity by any means defines a successful marriage) and I do have a college degree. My whole point in adding my two cents to this is that you don't seem to be able to look outside the box. Just curious, you handle adversity just fine....or haven't yet been faced with it? Huge difference.

The difference between me and those who don't earn enough money is they aren't willing to do what it takes. If I have to flip burgers to make ends meet, I'll do it. If I have to wear walmart brand clothing, than so be it. If I can't go out to eat and tip 20%, than I'll eat some ramen noodles at home.

You make enough money to get by and pay your fair share of taxes. You're a success story, not a detriment to society.