How Much of Your Money Should You Be Allowed To Keep?

[Dravenhawk]

An interesting thing I have been hearing on the news these days on conservative talk radio in reference to taxation. The question is How much of your money should you be allowed to keep? In light of all the reckless spending, waste and all out fraud I have to answer ALL OF IT. Whats your opinion? How much of your money should government allow you to keep? - - - - Dravenhawk

[Boo]

I should be allowed to keep away from the government the same percentage of my income that everyone else gets to retain.

We all should have to pay in the same about of our income - no exceptions.

That'll never fly when our government prefers to legally rob the minority in order to get the votes of the majority.

[Bandit]

We definitely need tax reform, but more than that, we need spending controls. Let's see, I get taxed roughly 20% on my income, then a 6% sales tax on most of the 80% I have to spend, plus other smaller taxes (like property taxes) thrown in along the way. So my real tax rate is probably around 30%. So that means I have to live off the roughly 70% that is left - which is what I do.

The problem is that the US goverment refuses to live off what they take in. Those in office have created so many more entitlements (so as to buy votes to get/stay in office) than they could ever hope to fulfill. (Yea, they are redistributing the wealth.) But they created the entitlement programs in such a way (Ponzi schemes) that the effects of their sinful ways are passed to subsequent generations (that be us y'all). I think Govenor Perry needs to call the Social Security and Medicare/Medicaid programs what they are - Ponzi schemes - and come up with a plan to eliminate them. But this means someone will get the shaft - there is no escaping this. There is going to be at least one whole generation which is going to get far less from these plans than they paid in. Right now it seems that no politician wants to openly admit this - even Perry has started using the politically correct phrase of "fixing" social security and medicare.

Let's see, I'm in an airplane halfway between Britain and the US, and the plane only has enough fuel to make it one forth of the way across the pond. (The plane is low on fuel because of the wasteful and erratic flying during the first portion of the flight.) Now all the "pilots" want to do is talk about how they are going to "fix" the situation. They need to accept reality and realize that there is going to be a ditching (water landing) at some point, and they need to make this a controlled ditching (like the pilot who landed on the Hudson). He accepted the reality that he was not going to make it to any airfield or otherwise "fix" the situation, so he made the very right and timely decision to ditch the plane.

Sorry... I needed to rant a bit.

Bandit

[jpoole21]

There is no question we need tax reform. I pay Fed income tax, state income tax, sales tax, personal property tax ( in Va they charge you to own a car every year ). I pay into SS, medicare and other things I'm sure I'm forgetting.

I fully understand that keeping roads together takes money. Snow plows in the winter cost money. A lot of things cost money and that money has to come from somewhere which is us, BUT there is so much money "taken" out every pay check for so many things it's beyond ridiculous.

[warfrog]

I think it should be an equal fixed amount for all people, if your rich you give the same as someone who is poor and vice versa, it should be an affordable amount for the lesser amount makers.
Why should those who do make alot of money be forced to give ludicrous amounts for the exact same things people who dont make alot recieve, both are using the exact same structures (ie roads, snowplows ext) yet those who make more pay massive amount more to use them.

Just make it even and fair.

I'm taxed 5-6k a paycheck for 2 weeks work and some are taxed 200-300 a paycheck for 2 weeks work, yet both of us are paying for and recieve the exact same services. That even and fair?

[nimblewillsgrace]

I love Herman Cain's 9-9-9 plan.

[Dravenhawk]

In so far as taxation goes I do believe that a flat tax is needed for this country. The rate must not excede 10% as God only asks for 10% who is man to ask of his brothers more than the Lord? Radical cuts on government spending need to occur 93% of federal government spending is total waste. A good example is the squandering of Trillions of dollars on green energy junk, lavish vacations taken by the president and other public officials elected to high office on the backs of the tax payer. public works such as roads, bridges and snow removal could be done with cheaper non union labor and contracts awarded to the lowest bidder as opposed to the highest political contributer. Even the militaty could be trimmed down. Do we REALLY need to hand out all those hundreds upon hundreds of billions in forigen aid even to countries that hate us? Why do the states and the feds heap lavish rewards upon the lawless ones who break into our country with free / subisdised tuition at the taxpayers expense? Countries that are benifitting from the liberation from tyrany as a direct result of US intervention should have to pony up the cost in the form of resources such as oil in the case of Kuait and Iraq to cover the costs of caring for the soldiers who got his limbs blown off. Trading partners should have to abide by anti dumping quotas, anti piracy and have to pay a trade tarrif to fund the operations of federal government. In cases like South Korea and Tiwan they should have to pony up additional monies to cover the costs of our troops that protect them. Unionized labor in the public sector should be eliminated entirely as the taxpayer who is footing the bill doesn't get a seat at the negotiating table. This is especially true when the demacrats are running the show. - - - - Dravenhawk

[jpoole21]

I love Herman Cain's 9-9-9 plan.

So do I. It's an outstanding plan......which is why it would never pass.

[tango]

I love Herman Cain's 9-9-9 plan.

9-9-9? Fancy summarising it to save this lazy guy from Googling it and finding hundreds of hits?

[bob]

9-9-9? Fancy summarising it to save this lazy guy from Googling it and finding hundreds of hits?

I believe it is a 9% flat national sales tax, 9% flat corporate tax, and 9% flat personal income tax. Thats a pretty simple summarization, you could Google it to see his in-depth explanation of everything.

[Reynolds357]

An interesting thing I have been hearing on the news these days on conservative talk radio in reference to taxation. The question is How much of your money should you be allowed to keep? In light of all the reckless spending, waste and all out fraud I have to answer ALL OF IT. Whats your opinion? How much of your money should government allow you to keep? - - - - Dravenhawk

I think that the total of Federal, State, and local taxes should be 20% maximum.

[tango]

I think that the total of Federal, State, and local taxes should be 20% maximum.

Just out of interest, is there a reason why 20% and not, say, 19% or 21%?

[tango]

I believe it is a 9% flat national sales tax, 9% flat corporate tax, and 9% flat personal income tax. Thats a pretty simple summarization, you could Google it to see his in-depth explanation of everything.

OK, that's enough detail for me. I don't live in the US so it's of academic interest only.

[nimblewillsgrace]

9-9-9? Fancy summarising it to save this lazy guy from Googling it and finding hundreds of hits?

OK, that's enough detail for me. I don't live in the US so it's of academic interest only.

Huh????????????????????????????

[Reynolds357]

Just out of interest, is there a reason why 20% and not, say, 19% or 21%?

Just had to come up with a number.