U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-05-2013, 04:15 PM
 
23,871 posts, read 14,293,136 times
Reputation: 14613

Advertisements

Quote:
Originally Posted by artisan4 View Post
Tax reform involving raising taxes on the upper class and wealthy corporations, getting rid of flat/regressive tax rates, and working together as a nation will solve our fiscal problems, not the me-first, screw everyone else mentality of the Republican Party. The right is trying to destroy the lives of public employees in the same manner as they attack the poor. Domestic enemies.
Typical lib- class warfare and eat the productive to help the non-productive.

The wealthy already pay all the taxes. How about a constitutional balanced budget amendment and restoring fiscal sanity for those RECORD LEVELS OF FEDERAL REVENUES WE ALREADY HAVE!
Rate this post positively Reply With Quote Quick reply to this message

 
Old 08-05-2013, 04:17 PM
 
Location: Long Island, NY
19,776 posts, read 12,460,638 times
Reputation: 5645
Quote:
Originally Posted by BoomBen View Post
the poster wants their life subsidized by someone else's wealth. Its pathetic.
So that's why we have capital gains and dividends taxed at a lower rate than ordinary income?

It's pathetic that more and more income is concentrated in fewer hands.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 04:22 PM
 
Location: Annandale, VA
5,094 posts, read 4,621,448 times
Reputation: 4217
Quote:
Originally Posted by Ponderosa View Post
The reason they are underfunded is that the people who promised them did not make contributions required over the years that were required to keep those promises. They reneged. They failed in their responsibility as public officials. That is what I meant.
A "promise" has no basis in law.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 04:38 PM
 
Location: Sonoran Desert
33,973 posts, read 43,680,730 times
Reputation: 22979
Quote:
Originally Posted by Spaten_Drinker View Post
A "promise" has no basis in law.
Yeah, yeah. Ever hear of a "Promissory Note"? The thing is/was not a promise but a contract. In Michigan, the "promise" is a constitutional provision from what I have read. Sounds like Michigan's Constitution is not even good enough to wipe one's butt with. What's next, the US Constitution? When governments can just toss their constitutions out the window, then we are in for anarchy.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 05:07 PM
 
Location: Central Texas
13,719 posts, read 27,242,589 times
Reputation: 9241
Quote:
Originally Posted by MTAtech View Post
So that's why we have capital gains and dividends taxed at a lower rate than ordinary income?

It's pathetic that more and more income is concentrated in fewer hands.
Regardless of the specific rates for taxes on capital gains and dividends the public pension problems are state problems, not federal. So the states can choose to change their taxation if they wish.

Illinois, a state in terrible shape for pensions, already taxes the crap out of its residents. Should they just go for more?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 05:07 PM
 
Location: Barrington
56,629 posts, read 39,024,313 times
Reputation: 18314
Illinois currently has about 7000 governments and all employees are public with pensions. We are talking county, municipal, township, school districts and special district governments. The redundancy is obvious to the most casual observer.

In the 1940's there were almost 16,000 governments within the state, ironically created to avoid big government.

Illinois had the distinction of having its two most recent former governors in prison at the same time. One was Republican ( Ryan) and the other a Democrat ( Blagojevich). I believe Illinois has had more governors in prison than any other state, over time. Party does not seem to matter.

The current governor has withheld the paychecks of state lawmakers because they failed to reach a deal on state pension plans. The lawmakers are now suing the state.

Only in Illinois....
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 05:09 PM
 
Location: Whoville....
25,387 posts, read 32,394,054 times
Reputation: 14639
Quote:
Originally Posted by artisan4 View Post
Tax reform involving raising taxes on the upper class and wealthy corporations, getting rid of flat/regressive tax rates, and working together as a nation will solve our fiscal problems, not the me-first, screw everyone else mentality of the Republican Party. The right is trying to destroy the lives of public employees in the same manner as they attack the poor. Domestic enemies.
If you tax people more for earning more, why should they try to earn more?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 05:15 PM
 
Location: Whoville....
25,387 posts, read 32,394,054 times
Reputation: 14639
Quote:
Originally Posted by JimRom View Post
I agree with getting rid of the regressive tax rate. It makes zero sense to tax one income bracket at a higher rate than you tax others. Having everyone pay a flat percentage of their income as a tax would be a much more balanced way of approaching the issue.

Taxing the upper class more order to pay for the pensions of the middle class? Why? How about having the middle class contribute to their own pensions, as anyone with a bit of common sense would call for?
I agree. A flat tax encourages people to better their skills and earn more because they don't lose more by earning more. I remember being shocked when I saw my first pay checks after I got out of college. I tripled my income but didn't even double my take home. All that work and I got a huge slap in the face.

Needless to say, it was much harder to pay off my school debt than I'd anticipated. Cost wise, it wasn't worth it. With the increased taxes after I graduated and income lost because I went to school, had I paid for my own education, the pay back period on my education would have been 25 years. My engineering career ended in a downsizing after 17 years. Seems all I accomplished was paying a lot more taxes. Fortunately, I went to college on scholarships and didn't incur massive student loans (I did run up charge cards for living expenses that took me several years to pay off).

A flat tax is fair. If you earn triple, you pay triple the taxes. I don't get why anyone thinks triple your income and pay ten times the taxes is fair to anyone. It's not. Especially when getting to the point you earn that income involves years of doing without and going into debt.

My dd was calculating her expected take home as a pediatrician the other day. She was stunned at how much she'll have to pay in taxes. From a financial perspective, why should she go into debt, spend 8 years in school and 3 years in a residency/internship just to be raped in taxes. She should, at least, get to income average for the years she was in school and pay the lower rate. Sure doctors can make a lot but it's after years of doing without and earning nothing/peanuts. Why do we "reward" our hardest working people this way? You'd think we'd encourage them.

Last edited by Ivorytickler; 08-05-2013 at 05:24 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 05:23 PM
 
Location: Barrington
56,629 posts, read 39,024,313 times
Reputation: 18314
Quote:
Originally Posted by hoffdano View Post

Illinois, a state in terrible shape for pensions, already taxes the crap out of its residents. Should they just go for more?
Illinois is one of a handful of states with a flat income tax rate. At 5%, it's high but not the highest in the land. I am taxed less than I would be if I lived in most other states, except for those without a state income tax.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-05-2013, 05:25 PM
 
Location: Barrington
56,629 posts, read 39,024,313 times
Reputation: 18314
Quote:
Originally Posted by Ponderosa View Post
The reason they are underfunded is that the people who promised them did not make contributions required over the years that were required to keep those promises. They reneged. They failed in their responsibility as public officials. That is what I meant.
AKA kicking the can.

When the buck stops, the guy or gal left standing takes the heat.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top