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Old 08-24-2017, 04:41 AM
 
62 posts, read 20,612 times
Reputation: 86

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Quote:
Originally Posted by TaxPhd View Post
Do you think that people don't behave consistently with how they are motivated?
If it were a simple thing like an electrical shock or a cookie as negative or positive immediate reinforcement then it might be causative.

But to think that (most) people connect their vacations, new cars every 4 years, new cellphone every two years, smoking habits, drinking habits, eating out everyday, etc with the fact that their kids have to take out student loans to go to college 18 years later is quite a stretch. And even if they make some vague intellectual connection, they just brush it aside, rationalize and their behavior never changes.

I cannot imagine that people who draw on home equity care about ROI either.

So, to imagine that people are failing to save money or invest because instead of keeping 90% of the ROI, they can only keep 85% of ROI seems unlikely to me. Or even 80% of ROI. And the idea that most people will delay gratification to save an extra 10% every month has been shown to be statistically unlikely. It is much easier to blame Wall Street, the FED, "globalists", than to hold oneself personally responsible.

Point being, no I do not think that people fail to save because "because our current income tax system penalizes savings". Though I think it makes a convenient excuse and a dandy piece of rhetoric.
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Old 08-24-2017, 08:30 AM
 
1,029 posts, read 560,926 times
Reputation: 300
Quote:
Originally Posted by jetgraphics View Post
There is no law compelling participation in FICA (and being liable to pay the tax) nor punishing anyone who does not participate.
“The Social Security Act does not require an individual to have a Social Security Number (SSN) to live and work within the United States, nor does it require an SSN simply for the purpose of having one...”
- - - The Social Security Administration
...

http://home.hiwaay.net/~becraft/ScottSSNLetter.pdf

Pursuant to the Declaration of Independence we have creator endowed rights to life, liberty, absolute ownership, and so forth.
Of course, you do know that no government instituted to secure endowed rights can tax those endowed rights.
Taxes can only be levied on government privileges.
You were informed which privileges are subject to taxation, right?
Quote:
Originally Posted by Supposn View Post
Craigiri, you’re correct, I’m wrong. I again sit corrected, (because I’m not standing before my keyboard).

There’s an alternative to paying FICA and participating in Medicare and Social Security; but there are exacting requirements to be enabled not to participate.

Refer to:
https://faq.ssa.gov/link/portal/3401...Security-taxes
JetGraphics, the last portion of your post is interesting, but it has little standing within federal courts.
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Old 08-24-2017, 09:58 AM
 
5,221 posts, read 2,381,873 times
Reputation: 5111
Quote:
Originally Posted by Bronn View Post
If it were a simple thing like an electrical shock or a cookie as negative or positive immediate reinforcement then it might be causative.

But to think that (most) people connect their vacations, new cars every 4 years, new cellphone every two years, smoking habits, drinking habits, eating out everyday, etc with the fact that their kids have to take out student loans to go to college 18 years later is quite a stretch. And even if they make some vague intellectual connection, they just brush it aside, rationalize and their behavior never changes.

I cannot imagine that people who draw on home equity care about ROI either.

So, to imagine that people are failing to save money or invest because instead of keeping 90% of the ROI, they can only keep 85% of ROI seems unlikely to me. Or even 80% of ROI. And the idea that most people will delay gratification to save an extra 10% every month has been shown to be statistically unlikely. It is much easier to blame Wall Street, the FED, "globalists", than to hold oneself personally responsible.

Point being, no I do not think that people fail to save because "because our current income tax system penalizes savings". Though I think it makes a convenient excuse and a dandy piece of rhetoric.
Strange, you agree with the idea initially, and then spend four paragraphs trying to refute it.
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Old 08-26-2017, 06:17 AM
 
1,029 posts, read 560,926 times
Reputation: 300
Quote:
Originally Posted by Elliott_CA View Post
Replace FICA with a federal VAT on raw material sales, futures contracts and professional services. That would be a lot less regressive.
Elliott_CA, it wouldn’t produce sufficient revenue for our purposes.

I’m for a general VAT with tax waivers for food not provided by restaurants or caterers, and for capped amounts of rents and specific utilities that are linked to a specific primary residence. The capped amounts for each types of items are annually cost-of-living adjusted.
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