Tommy Callahan Posted August 23, 2023 Posted August 23, 2023 1 hour ago, ALF said: Taxing excessive wealth not to redistribute but to re-enforce the safety net and start reducing the budget deficit. If that does not go over with the very rich it proves they are greedy and want the country to fail. Excessive wealth sounds very debatable. Maybe cut the hair insane spending a little? 2
ALF Posted August 23, 2023 Posted August 23, 2023 6 minutes ago, Chris farley said: Excessive wealth sounds very debatable. Maybe cut the hair insane spending a little? How about removing most tax loopholes . You aren't required to pay the Social Security tax on any income beyond the Social Security wage base limit in 2023. Wonder why SS is in trouble ?
Tommy Callahan Posted August 23, 2023 Posted August 23, 2023 Just now, ALF said: How about removing most tax loopholes . You aren't required to pay the Social Security tax on any income beyond the Social Security wage base limit in 2023. Wonder why SS is in trouble ? Because there is a cap on ss payments.
All_Pro_Bills Posted August 23, 2023 Posted August 23, 2023 3 hours ago, ALF said: Taxing excessive wealth not to redistribute but to re-enforce the safety net and start reducing the budget deficit. If that does not go over with the very rich it proves they are greedy and want the country to fail. Perhaps if it was you or I that was provided additional income that could be used to pay down debt or cut our borrowing level it would make sense but if you give the government more funds in an effort to reduce the deficit they will instead just spend more money and not reduce the debt. 1
Tommy Callahan Posted August 23, 2023 Posted August 23, 2023 Just now, Tiberius said: Economic crisis? 🤣 Do you even grasp the results of the dollar not being the reserve currency? What's going on with the Bricks? The bright spot is the history books will call this crap economy, Biden omics. 1
All_Pro_Bills Posted August 23, 2023 Posted August 23, 2023 (edited) 37 minutes ago, Chris farley said: Do you even grasp the results of the dollar not being the reserve currency? What's going on with the Bricks? The bright spot is the history books will call this crap economy, Biden omics. I think the long and short of it is the dollar reserve and trade settlement system has run its course and slowly, and then all at once, other countries are looking to, and migrating to, other systems of settlement and reserves. Like gold and other currencies. One reason cited for the urgency to utilize alternatives is the recent enthusiasm in Washington to use the dollar's reserve and trade settlement status as a policy tool of extortion via sanctions and asset seizures. The idea is get out of the dollar lest you someday piss off or disobey Washington and they steal your money because its in dollars (their money). Edited August 23, 2023 by All_Pro_Bills 1 1
Tommy Callahan Posted August 23, 2023 Posted August 23, 2023 2 minutes ago, All_Pro_Bills said: I think the long and short of it is the dollar reserve and trade settlement system has run its course and slowly, and then all at once, other countries are looking to, and migrating to, other systems of settlement and reserves. Like gold and other currencies. One reason cited for the urgency to utilize alternatives is the recent enthusiasm in Washington to use the dollar's reserve and trade settlement status as a policy tool of extortion via sanctions and asset seizures. No argument. just seems like its moving fast now. De-dollarization "Irreversible" - Putin Tells BRICS Summit In Remote Address | ZeroHedge https://www.lemonde.fr/en/economy/article/2023/08/22/the-brics-countries-aim-to-knock-the-dollar-off-its-throne_6102645_19.html https://www.bloomberg.com/news/articles/2023-08-22/brics-latest-reducing-dollar-reliance-tops-summit-agenda One reason cited for the urgency to utilize alternatives is the recent enthusiasm in Washington to use the dollar's reserve and trade settlement status as a policy tool of extortion via sanctions and asset seizures. The idea is get out of the dollar lest you someday piss off or disobey Washington and they steal your money because its in dollars (their money). no argument. but would add that's exactly how China has been gaining strategic assets around the world. one example would be Hambantota International Port
SoCal Deek Posted August 23, 2023 Posted August 23, 2023 3 hours ago, ALF said: How about removing most tax loopholes . You aren't required to pay the Social Security tax on any income beyond the Social Security wage base limit in 2023. Wonder why SS is in trouble ? There are no tax loopholes. What you mean are parts of the tax code that benefit other people than yourself. But be careful, because I’d imagine there are parts of the code that benefit you and not others. 1
All_Pro_Bills Posted August 23, 2023 Posted August 23, 2023 (edited) 36 minutes ago, Chris farley said: No argument. just seems like its moving fast now. De-dollarization "Irreversible" - Putin Tells BRICS Summit In Remote Address | ZeroHedge https://www.lemonde.fr/en/economy/article/2023/08/22/the-brics-countries-aim-to-knock-the-dollar-off-its-throne_6102645_19.html https://www.bloomberg.com/news/articles/2023-08-22/brics-latest-reducing-dollar-reliance-tops-summit-agenda One reason cited for the urgency to utilize alternatives is the recent enthusiasm in Washington to use the dollar's reserve and trade settlement status as a policy tool of extortion via sanctions and asset seizures. The idea is get out of the dollar lest you someday piss off or disobey Washington and they steal your money because its in dollars (their money). no argument. but would add that's exactly how China has been gaining strategic assets around the world. one example would be Hambantota International Port That's true. China makes loans with onerous teams and then when the borrower can't pay, collects real assets in exchange. That's one reason I'm not really buying a lot of talk about the BRICS launching some gold backed currency. To be that it would have to be redeemable in gold. And China is not going to trade gold for paper. In our system we exchange paper IOU's for real goods and then the holder of those dollars is obligated to return those dollars in exchange for treasury bonds in a scheme so the government can spend more money. When you get down to it all the entire global system of finance is a huge racket. People that do no real work flip and transfer money all over the place, and "earn" a tremendous amount to support a very nice lifestyle while saddling the rest of the population with debt. if they default, the government bails out the fat cats. You or me make a bad investment and lose, its free market capitalism at work. Its a great system, for them. In the reincarnation of my next life I plan to come back as an investment banker! Edited August 23, 2023 by All_Pro_Bills 1
ALF Posted August 23, 2023 Posted August 23, 2023 25 minutes ago, SoCal Deek said: There are no tax loopholes. What you mean are parts of the tax code that benefit other people than yourself. But be careful, because I’d imagine there are parts of the code that benefit you and not others. You have Trump rolling on the floor laughing till he cries. 1
Tiberius Posted August 23, 2023 Posted August 23, 2023 How long will America put up with this low unemployment?? 🤣 1
Tommy Callahan Posted August 23, 2023 Posted August 23, 2023 8 minutes ago, Tiberius said: How long will America put up with this low unemployment?? 🤣 Lol, low unemployment. How long will we put up with our pay constantly being driven down by inflation.
The Frankish Reich Posted August 23, 2023 Posted August 23, 2023 4 hours ago, Chris farley said: Excessive wealth sounds very debatable. Maybe cut the hair insane spending a little? See what I just did? I "liked" a comment you made!
SoCal Deek Posted August 23, 2023 Posted August 23, 2023 38 minutes ago, ALF said: You have Trump rolling on the floor laughing till he cries. You do realize that Trump doesn’t write the tax code….right? 1
The Frankish Reich Posted August 23, 2023 Posted August 23, 2023 15 minutes ago, SoCal Deek said: You do realize that Trump doesn’t write the tax code….right? You mean he doesn't write the tax code anymore. Because he was all-in on Paul Ryan's tax bill when Republicans held the House, the Senate, and the White House. So yeah, it's like how Biden didn't "write" the so-called Inflation Reduction Act. (The jury's still out on the Ryan-Trump legislation. Believe it or not, I believe it was more good than bad. But it needed to be countered with spending reductions. It wasn't, not even under Trump. And obviously exacerbated under Biden) 1
SoCal Deek Posted August 23, 2023 Posted August 23, 2023 Just now, The Frankish Reich said: You mean he doesn't write the tax code anymore. Because he was all-in on Paul Ryan's tax bill when Republicans held the House, the Senate, and the White House. So yeah, it's like how Biden didn't "write" the so-called Inflation Reduction Act. (The jury's still out on the Ryan-Trump legislation. Believe it or not, I believe it was more good than bad. But it needed to be countered with spending reductions. It wasn't, not even under Trump. And obviously exacerbated under Biden) So you agree! Congress writes the tax code. Glad we have that settled. Now…to the bigger question: Why does anyone care what anyone else pays in federal income tax? It has zero impact on your life. My tax rate is the highest in the nation and you don’t see me posting any of this pitchfork laced nonsense. 1
The Frankish Reich Posted August 23, 2023 Posted August 23, 2023 3 minutes ago, SoCal Deek said: So you agree! Congress writes the tax code. Glad we have that settled So now more talking about the tax and spend provisions of the Inflation Reduction Act. Biden was just a cheerleader with a pen! 4 minutes ago, SoCal Deek said: Now…to the bigger question: Why does anyone care what anyone else pays in federal income tax? It has zero impact on your life. My tax rate is the highest in the nation and you don’t see me posting any of this pitchfork laced nonsense. I just said I thought Ryan-Trump was more good than bad. And that the "bad" had more to do with no related component reducing federal spending. Good for you on your tax bracket. Now please send that EV tax credit back to the Treasury.
SoCal Deek Posted August 23, 2023 Posted August 23, 2023 Just now, The Frankish Reich said: So now more talking about the tax and spend provisions of the Inflation Reduction Act. Biden was just a cheerleader with a pen! I just said I thought Ryan-Trump was more good than bad. And that the "bad" had more to do with no related component reducing federal spending. Good for you on your tax bracket. Now please send that EV tax credit back to the Treasury. That’s correct. The President, no matter which party, doesn’t write the bill. He may set the tone, but like Nancy said “you have to read it to know what’s in it”. And I’m not attacking you Frank. But there are those on here that somehow think that their life will be improved or perfected if the top tax payers would just pay even more. It’s ridiculous! We’re swimming in debt. That isn’t caused by taxes. It’s because no matter how much this bloated government takes in, they somehow manage to spend even more. Year after year after year. 1
The Frankish Reich Posted August 23, 2023 Posted August 23, 2023 1 minute ago, SoCal Deek said: That’s correct. The President, no matter which party, doesn’t write the bill. He may set the tone, but like Nancy said “you have to read it to know what’s in it”. And I’m not attacking you Frank. But there are those on here that somehow think that their life will be improved or perfected if the top tax payers would just pay even more. It’s ridiculous! We’re swimming in debt. That isn’t caused by taxes. It’s because no matter how much this bloated government takes in, they somehow manage to spend even more. Year after year after year. I agree. That's why (until the new Trump Tariff proposal) I hated Elizabeth Warren's idea of adding some kind of "wealth tax" to the income tax and the death tax. I thought that was the low point of of tax policy proposals from nominally legitimate candidates. But now we have a new winner!
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