Just saw this on FoxNews. The criminals have taken over and they are stealing your money every way they can think of. Seriously people need to wake the f**k up. And don’t fall into the trap of blaming the left or the right, when someone is stealing from you it doesn’t matter who they are. The Federal government need to spend trillions of dollars? Seriously how stupid do they think people are? Ohhh wait they are that stupid because it is happening. It is like taking candy from a baby.
Love him or hate him his data here is dead on. Taxation only speeds up the wealth re-distribution to the top. I don’t know how much more than can sweep up top before civil unrest or a full blown depression takes place. Inflation and taxes are a simple game to give the elite few the spending power and enslave the working class to debt. The money doesn’t evaporate, it goes somewhere…how people don’t understand this concept blows my mind.
EDIT—
Never mind…I understand where our wires got crossed now. Elites to me aren’t Gates & Buffett, in fact those guys are small time in the big picture. There is wealth beyond that which the media shows us or tells us is “wealth” basically. Sorry for the confusion if my term “up top” insinuated the “rich” that the video was talking about.
So…who are you talking about specifically? This is all for a few people with more wealth then Buffett and Gates that the media won’t tell us about? If these people have the power and intel to really manipulate the world like that then id say they earned it. I get paid fairly well to manage much smaller projects. Economies of scale AMIRITE! lol
BED is there a link to more infor I am missing? Are they trying to tax money on the way in and out I would assume is the issue? As it is taxed coming out already.
I thought they were trying to tax it on the way in instead of out, like a Roth, so they can get the money now. They can’t double tax it or no one will ever contribute. I think this was one of those scare tactics that one side proposes as an amendment so they can make campaign commercials that the other side voted for/against it.
401k’s are not tax free. They are just pre-tax contributions with stipulations that you can not take the money out as income until a certain age at which point is considered income.
Are you guys saying his video is incorrect? If so I’d like to know what parts and how they are wrong. Please enlighten me.
Arrogance doesn’t negate everything others say, in case you didn’t get the memo.
Added—
Where do you guys think the money is going? Do you honestly think it’s about money and not about control? I’m speaking of inflation most specifically.
Honestly I am not sure. The little bit I caught did not explain exactly what they had in mind. If I were to assume I would say like others have, tax the money on the way in to get more money today. I would think this would hurt the current market, a big reason for investing in a 401k is to avoid taxes. Current taxes that is.
Edit: I just watched the video. Math does not lie, end of story.
Come on now BED! As long as people making $13.00 bucks an hour can get approved loans for $35000 trucks and suv’s as well as $150000 houses no one will say shit! Ya it might take them forever to pay them off but who cares?! Being in debt is the American way these days right? Im not even going to start ranting here and I said the above in a light hearted way but most people are tools and can’t look past their posessions, even though in a sense they are enslaved by them. Oh; and speaking of taxes… how many of you guys got ripped of by nys this year on your tax return?
Great post. The game shall continue as long as people (and our go-mint) are offered and willing to sign up for bigger & bigger debt.
The rich own the assets, the working class own the debt and the poor own nothing. That pretty much sums the game up IMO.
“It is the last lesson of modern science, that the highest simplicity of structure is produced, not by few elements, but by the highest complexity.” Ralph Waldo Emerson (1850)
i was just saying that the video doesn’t indicate that the tax money is going anywhere other than to support pre-existing commitments to various government programs and whatnot… you may believe there is some higher level of control going on…but the video doesn’t really support that assertion.
That was kind of a sidebar comment, sorry if it didn’t come across as such. I can see how it was confusing, my fault.
More on point, what I’m trying to say is the government spending aka commitments/programs by design take our spending power and transfer it to the elites. Removing almost all our tangible wealth and job opportunities only buys us one year at current go-mint spending levels! I would think this would be a wake-up call to anyone with half a brain. And beyond that, the video only touches on the 2012 budget requirements and what it would take to shore things up for one measly year. What about looking into the expanded 2013 budget or heaven forbid the full deficit? The deficit exists, whether people want to face fundamental reality or not. All that money went SOMEWHERE, no? And if the money is somewhere, yet destroying the visible wealth only grants us a year…someone should have some explaining to do to the tax payers. No? Maybe I’m being unreasonable or too “tin foil” for those that believe they can control the business cycle.
i think the point of the video is that no ‘tax the rich’ solution will ever be enough to start to tackle the problem the US faces. it needs to be a broad solution including increased taxes on probably just about everyone and the elimination of programs that are simply blackholes for tax dollars.
as for where all the money has gone i think it is helpful to look at greece as an example. they have a huge debt burden- although almost laughable by US standards- yet walking around greece you would not get the impression that this a poor and destitute county…there are plenty of people living a comfortable middle class lifestyle…one paid for almost entirely by borrowed money. the government borrows money and heaps it onto various government run operations and projects and that money finds its way to joe greek who have themselves created a good deal of personal debt.
their modern rail system is so bloated and inefficient that it would have actually been cheaper to send each individual rider over the past year to their destinations in a taxi instead of riding the train…you have an average employee salary equivalent to $90k…for a rail system. now what kind of redistribution of wealth is that?
a similar process happens in the US although the path is not quite as direct because there aren’t quite so many industries and institutions tied directly to the state as we see in greece. all the same their are enormous amounts of money- borrowed money- that is funneled through the government and its entities and eventually finds its way into our pockets…we are both liable for and the benefactors of the national debt.
people are certainly being enriched by this system but it is hardly limited to the wealthy elites.
as for taxes in general i have never been too concerned about them up until the last few years. my wife and i have been paying over a 30% effective rate for the past couple of years…we basically just finished working to pay for our 2012 taxes last week (approximately 1/3 through the year) the rest of the year we thankfully get to keep for ourselves. that really tires me out. i enjoy making the money but i do not enjoy watching what is done with the nearly 1/3 of it that uncle sam/state takes and just throws down the trash shoot of failed programs…then has the gall to come back and say that we aren’t ‘paying our fair share’. it is absolutely ridiculous. i am not a slave to debt and i do not feel pigeon holed by any government policies to any great extent, but i’m sick of politicians telling me i owe something to everyone else while at the same time they just keep expanding government and government spending.
I don’t think anyone is saying you aren’t paying your fair share, i think they are talking about the people who make 100x more then you who are paying 10% on their taxes because they can afford lawyers to find them loopholes. If they payed the same tax rate as you i don’t think anyone could complain about them not paying enough taxes.
I never thought id say this but i think it time for the dems to give the republicans what they want “flat tax.” I mean that would actually equate to a huge tax increase on the super rich, a decrease to the taxes of the middle class (the ones who need it), and the poor would stay exactally where they are, paying nothing in income tax and supplementing the coffers through sales and other taxes. I mean all the bickering about how 40% of Americans dont pay taxes, well my math might be wrong but 30% of 0 is still 0.
The fact that on the senate floor they were talking about how raising taxes on the wealthy would only raise a few billion a year in revenue so its not worth it. While at the same time arguing how planned parenthood should be cut to save 100million a year shows just how clueless they are. If you cut programs like planned parenthood and the ability of poor women to get contraceptive’s you only further the problem. Do you want the people who cant afford things like medical care and contraceptives reproducing and sucking on Americas tit even more. Hell they should give out birth control on the corners for free, so those people might have a chance to finish their education and become functioning members of society.
Remember individuals of wealth and corporation who are viewed as cheating the system are simply using the available means to do so ie. corporate incevtives, capital gains, etc.
To make a flat tax with even in the remote world of possibilities there would need to be zero ways to get out of your tax % No EIC, charitable donations, depreciation expense, subsidies, mortgage or student loan interest deductions, etc etc.
While in theory this sounds nice and many feel the upper wealth don’t contribute enough the truth is many do and there are also some that indeed have worked over the system quite well. A bracket system is still the way to go and the anwer is restriction and revision of the deals and situations that allow many to “take advantage” of the system in place.
Since we have gone this direction if it were me calling the shots (since we all get to armchair problem solve here) I would go after spending and government footprint…but this is a gradual process. Why gradual? Well that is because if you pull too much cash out of the system that has been propped up for so long on spending you will have jobs lost on the front end and panic creating the downward sprial that manny economists today are trying to navigate from.
