April 15th - Tax day
Dirt bags like Hondo's "friend" who pays no income taxes and is pissed because he isn't receiving his "free" money from the government anymore have absolutely zero incentive to cut spending or to keep income taxes low, because they don't pay any income taxes.
Comments
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You're welcome.
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Yeah, where is my thanks? But instead of gratitude all we get is a demand that we pay even more.HHusky said:You're welcome.
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I'm fine with low income workers with families to support not paying income tax and even getting some wage subsidy (i.e., earned income tax credit). This is lot better way to ensure that pours have enough income for food and housing than trying to raise standard of living through counter-productive means like artificially high minimum wages. And again, everyone still pays payroll taxes, sales taxes and property taxes (though rents or ownership).
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Everyone should have some skin in the game. It doesn't have to be a lot but if you work you should face some level of income tax. Otherwise you have the situation that we have now where nearly half the population has no incentive to keep income taxes low. I'd also do away withholding and make everyone write a check to the government every quarter.YellowSnow said:I'm fine with low income workers with families to support not paying income tax and even getting some wage subsidy (i.e., earned income tax credit). This is lot better way to ensure that pours have enough income for food and housing than trying to raise standard of living through counter-productive means like artificially high minimum wages. And again, everyone still pays payroll taxes, sales taxes and property taxes (though rents or ownership).
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I fully appreciate the skin in the game logic. But I also think we need to take away disincentives towards work. Lot of pours these days who can't get anything better than a low wage jerb are choosing idle poverty (e.g., collecting disability) over working poverty (e.g., greeting people at Walmart) because at the end of the day there's not much difference in their standard of living at the end of day. Even if someone has made poor life choices (e.g., got pregnant w/o a dad around) we still should reward them for showing up and working a job and if part of the way in helping them get by is an effective negative income tax (EITC) then so be it. They have skin in the game with FICA and sales tax.SFGbob said:
Everyone should have some skin in the game. It doesn't have to be a lot but if you work you should face some level of income tax. Otherwise you have the situation that we have now where nearly half the population has no incentive to keep income taxes low. I'd also do away withholding and make everyone write a check to the government every quarter.YellowSnow said:I'm fine with low income workers with families to support not paying income tax and even getting some wage subsidy (i.e., earned income tax credit). This is lot better way to ensure that pours have enough income for food and housing than trying to raise standard of living through counter-productive means like artificially high minimum wages. And again, everyone still pays payroll taxes, sales taxes and property taxes (though rents or ownership).
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One way to make work more rewarding would be to halt the importation of millions of low skilled, low education foreigners who depress the wages of low American income workers.YellowSnow said:
I fully appreciate the skin in the game logic. But I also think we need to take away disincentives towards work. Lot of pours these days who can't get anything better than a low wage jerb are choosing idle poverty (e.g., collecting disability) over working poverty (e.g., greeting people at Walmart) because at the end of the day there's not much difference in their standard of living at the end of day. Even if someone has made poor life choices (e.g., got pregnant w/o a dad around) we still should reward them for showing up and working a job and if part of the way in helping them get by is an effective negative income tax (EITC) then so be it. They have skin in the game with FICA and sales tax.SFGbob said:
Everyone should have some skin in the game. It doesn't have to be a lot but if you work you should face some level of income tax. Otherwise you have the situation that we have now where nearly half the population has no incentive to keep income taxes low. I'd also do away withholding and make everyone write a check to the government every quarter.YellowSnow said:I'm fine with low income workers with families to support not paying income tax and even getting some wage subsidy (i.e., earned income tax credit). This is lot better way to ensure that pours have enough income for food and housing than trying to raise standard of living through counter-productive means like artificially high minimum wages. And again, everyone still pays payroll taxes, sales taxes and property taxes (though rents or ownership).
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Are you getting by on your million a year? About 40k a month after taxes.HHusky said:You're welcome.
I'm concerned for your well being.
Maybe if you cut cut back on life of luxury you could figure out to turn 200k a year into a passive income stream then you could be rich! Or even better, wealthy. -
And I'm record in this space saying we probably need to take a break on high levels of low skill immigration until we get labor force participation rates back up. But in conjunction with that you've got to change policy to get people off the dole and back into the work force.SFGbob said:
One way to make work more rewarding would be to halt the importation of millions of low skilled, low education foreigners who depress the wages of low American income workers.YellowSnow said:
I fully appreciate the skin in the game logic. But I also think we need to take away disincentives towards work. Lot of pours these days who can't get anything better than a low wage jerb are choosing idle poverty (e.g., collecting disability) over working poverty (e.g., greeting people at Walmart) because at the end of the day there's not much difference in their standard of living at the end of day. Even if someone has made poor life choices (e.g., got pregnant w/o a dad around) we still should reward them for showing up and working a job and if part of the way in helping them get by is an effective negative income tax (EITC) then so be it. They have skin in the game with FICA and sales tax.SFGbob said:
Everyone should have some skin in the game. It doesn't have to be a lot but if you work you should face some level of income tax. Otherwise you have the situation that we have now where nearly half the population has no incentive to keep income taxes low. I'd also do away withholding and make everyone write a check to the government every quarter.YellowSnow said:I'm fine with low income workers with families to support not paying income tax and even getting some wage subsidy (i.e., earned income tax credit). This is lot better way to ensure that pours have enough income for food and housing than trying to raise standard of living through counter-productive means like artificially high minimum wages. And again, everyone still pays payroll taxes, sales taxes and property taxes (though rents or ownership).
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A million/year isn’t $480,000 after taxes. I think your bookkeeper may be stealing from you.jecornel said:
Are you getting by on your million a year? About 40k a month after taxes.HHusky said:You're welcome.
I'm concerned for your well being.
Maybe if you cut cut back on life of luxury you could figure out to turn 200k a year into a passive income stream then you could be rich! Or even better, wealthy. -
I said "about" 40k. What is 40x12?HHusky said:
A million/year isn’t $480,000 after taxes. I think your bookkeeper may be stealing from you.jecornel said:
Are you getting by on your million a year? About 40k a month after taxes.HHusky said:You're welcome.
I'm concerned for your well being.
Maybe if you cut cut back on life of luxury you could figure out to turn 200k a year into a passive income stream then you could be rich! Or even better, wealthy.
