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View Poll Results: Yey or Nay on the Housing Bill?
Yey 8 13.79%
Nay 50 86.21%
Voters: 58. You may not vote on this poll

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Old 07-24-2008, 06:32 AM
 
238 posts, read 616,369 times
Reputation: 139

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Can someone PLEASE help me to understand........WHY do / should we / I care WHAT other countries are charging for taxes-gas - food or whatever.

I do not live in another country, I live here in America. I thought the whole point of creating America was to get away from European counties high taxes ect...


This is America , we are suppose to be better off and the country everyone wants to come to because we kept things reasonable for Americans. If I would want high taxes and gasoline i can always move to another country.

Okay I feel better now.......
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Old 07-24-2008, 07:00 AM
 
Location: Raleigh, NC
9,043 posts, read 11,829,498 times
Reputation: 1394
The housing bill was "so good" that 10YR T-bills sunk this morning and yields shot up 50 basis points, biggest jump in yields since who knows when. Can't wait to see what this does to overnight mortgage rates. 7% on a 30yr by tomorrow?
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Old 07-24-2008, 07:26 AM
 
2,153 posts, read 5,088,787 times
Reputation: 649
Is this the bill that has included something to the affect (effect?) of all Credit Card purchases will now be reported to a government agency?
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Old 07-24-2008, 08:50 AM
 
Location: NY
1,416 posts, read 5,120,876 times
Reputation: 592
Yes but as I understand it, it's not INDIVIDUALS' credit card purchases that will have to be reported. It's the large-scale MERCHANTS (not mom-and-pop stores... big retailers) who will have to regularly report the AMOUNT of credit-card income they receive. NOT any details on the individual consumers' credit card transactions that make up those amounts. In other words let's say Amazon.com will have to report that last quarter they took in $6,543,210 via credit-card-funded sales.... but NOT that $326 of them came from Joe Jones in Peoria, VISA card #123456789101112 specfically. IMO people are getting paranoid over nothing.
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Old 07-24-2008, 11:12 AM
 
19,114 posts, read 20,689,920 times
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Paranoid? Not really, give it time and it WILL eventually be like that.. there is no other reason for asking that kind of information... they are "steadily" trying to head down that path because people are eluding the "sales" tax revenue the government wants... I don't really care, sales tax is ONE tax that I can live with because it is applied to everyone equally albeit it is different according to cities and states but at least it applies to everyone within the city/state... they don't say, you dress nice so you pay more taxes... that kind of B.S. in income taxes is unbelievable... I don't favor one group over another because its one of those -isms.... If people don't like to be profiled then stop asking the government to do it...
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Old 07-24-2008, 12:29 PM
 
Location: NY
1,416 posts, read 5,120,876 times
Reputation: 592
Quote:
Originally Posted by evilnewbie View Post
they are steadily trying to head down that path because people are eluding the sales tax revenue the government wants.
But it's the merchant who is eluding the sales tax laws by failing to collect it, not the buyer (credit card user). Consumers go around saying "We have to pay sales tax" when in reality the onus is not on them to PAY it...the onus is on the merchant (seller) to COLLECT it and then remit it to the state or county or whatever entities are involved. If someone goes into a store and sees a whatchamacallit with a $599 pricetag and asks the owner "How much will you sell that for if I pay cash?" and the store owner says $450 (our sales tax is over 8% here) and the buyer counts out the $450 and hands it over.... after which the store owner never reports that sale/never collects or remits the $49 sales tax... Sorry, can't blame the buyer. The store owner could have said "Sorry, that's the price" and not played games. AFAIK, it's the merchants who get hit with liens for nonpayment (non-remittance) of sales taxes... not the consumer. It's not the consumer's responsiblility to keep the merchant honest.
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Old 07-24-2008, 01:17 PM
 
19,114 posts, read 20,689,920 times
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Not really, if you notice in your IRS forms it asks specifically what products you bought without paying tax on it and to list it so that you "have" to pay tax on it... The government knows not a lot of people are going to list it, so they are going after the internet companies credit card information then later go after credit card records and then later demand taxes that haven't been paid. Personally, I think that is okay. The government doesn't just "ask" questions for no reasons. They are trying to go down this path to collect more taxes, that is their "end" goal, it may not be the "current" goal as the "current" goals which is really a smoke screen so that nobody "notices" what they are doing. True, the merchant is the one aiding the consumer to not pay taxes but this law is trying to aim at "internet" companies instead of "brick and mortar" companies. Sure you can still cheat the system but that's not what this is about, the government is trying to close one loophole at a time and its easier to close the no sales tax loopholes in "internet" companies than the cheats at the "brick and mortar" companies... people should be paranoid, the government is not being entirely honest about it all and they are doing what the people "are" paranoid about...
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Old 07-24-2008, 04:24 PM
 
Location: NY
1,416 posts, read 5,120,876 times
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True, and that's why Amazon.com is now having to charge tax on all purchases shipped to my home state of NY ..... They are abiding by a law passed a few months ago stating that internet merchants cannot be considered an "out of state" vendor. So now when I buy from Amazon, they add tax to the bill, which I of course pay. The law in NY up till now has been that if a merchant has a "brick and mortar" store within the state of NY, they have to collect tax on all sales, whether by phone or catalog or internet; but if they don't have a PHYSICAL presence in NY, then they do NOT have to collect tax. By the way, Amazon is challenging the validity of the NY law, but in the meantime they ARE charging and collecting and remitting the sales tax while awaiting the outcome.
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Old 07-24-2008, 04:31 PM
 
19,114 posts, read 20,689,920 times
Reputation: 8400
Quote:
Originally Posted by totallyfrazzled View Post
True, and that's why Amazon.com is now having to charge tax on all purchases shipped to my home state of NY ..... They are abiding by a law passed a few months ago stating that internet merchants cannot be considered an "out of state" vendor. So now when I buy from Amazon, they add tax to the bill, which I of course pay. The law in NY up till now has been that if a merchant has a "brick and mortar" store within the state of NY, they have to collect tax on all sales, whether by phone or catalog or internet; but if they don't have a PHYSICAL presence in NY, then they do NOT have to collect tax. By the way, Amazon is challenging the validity of the NY law, but in the meantime they ARE charging and collecting and remitting the sales tax while awaiting the outcome.
You must of missed the long, LONG list of pending lawsuits against Amazon from other states wanting their taxes as well... They say because Amazon contracts with different "vendors" to sell their goods, that qualifies as a "physical" location for Amazon in their states. Apparently, it is predicted that they will lose this lawsuit and will have to pay taxes to every single state... they are already planning on implementing computer code to charge you tax based on your zip code...
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Old 07-24-2008, 07:52 PM
 
86 posts, read 224,547 times
Reputation: 21
Quote:
Originally Posted by chuck22b View Post
We actually pay some of the lowest taxes amongst the nations of the world. I guess there aren't really any options out there with a relative standard of living that pays as little taxes as we do. I guess you can move to Mexico, but I don't think the quality of life would be comparable.
-chuck22b
Yes, a lot of european countries have higher tax. But they do offer a lot of benefits too. Like France, you kids can go to college for free. Here in US, How much "after tax " money you need to help your kid get a degree?
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