A Forum for Grinches and Ho-Ho-Hoes

[Sidd Finch]

Originally posted by Mmmm, Burger (C.J.)
Are you reading my answers? You get a statement from your checking adn savings account each month, right? If you have a line for withdrawals, that's a pretty good way to figure out what your tax is, when withdrawals are taxed.

Yes, I have a line for withdrawals.

Many of those are for investments. Others are for food, mortgage, etc. -- are we taxing all of that stuff?

And waiting to the end of the month is an absolutely brilliant plan. Because we can safely assume that people will have enough money in their checking accounts each and every month to cover the tax withholding, right?

When the gov't withholds on paychecks, they are withholding before money is spent -- you never see the withheld amount. The system you suggest turns this, and logic, onits head.

As I said to fringe -- the banks will love this. More bounced checks, more fees.

[ltl/fb]

Originally posted by Sidd Finch
So every time someone writes a check the bank has to withhold an additional amount from their account for taxes? Unless, of course, the bank deems that the check, or some portion thereof, is for a contribution to an investment account, or for non-taxable spending like food, or rent, or...... (Or are you dispensing with th theory that spending on necessities will not be taxed?) Sorting out which portion of a credit card bill is for taxable or non-taxable items will be a joy. So will sorting out whether someone is withdrawing money just to hvae some "just-in-case" cash around -- and getting taxed for doing that.

The banks, for one, will love the system, however -- just imagine how many people will bounce checks because they fail to calculate correctly the amounts that will be withheld on each one.

Perhaps I am missing the point of your plan completely -- are you really suggesting a tax system that says your taxes are x% times (income minus savings)?

I am really suggestingt a tax system of x% times (income minus savings). "Savings" would be in defined vehicles, similar to an IRA. So money in your checking account would not count as savings. Since it is income MINUS savings, and savings is the net of the amount added to and the amount taken from, these special, defined, identifiable kinds of accounts, it would not be difficult to determine what "savings" is.

Do you do your own taxes? God, I hope not.

[Sidd Finch]

Originally posted by Mmmm, Burger (C.J.)
y'all just don't get that the money's not going to sit under someone's matress, untaxed. No, it's going to go into investment, and investment will employ people, and employed people will probably consume something. and pay taxes.

So long as the investments aren't overseas, of course.

But nah, why introduce reality into this discussion?

[Sidd Finch]

Originally posted by blue_Triangle
Caption please requires Funny or just shut up- please?

I thought that was the rule for flames.

[Sidd Finch]

Originally posted by ltl/fb
Do you do your own taxes? God, I hope not.

Ooooh, good one. Because you have come up with a system so utterly fucking stupid, complicated, regressive, and potentially injurious to the comsumer spending that drives this economy, and I have criticized it, I must be too stupid to do my own taxes.


eta: The answer is no, because I can make a lot more money doing legal work in the time it would take me then it costs to pay my accountant, and doing taxes is almost as boring and annoying as discussing them with you.

[bilmore]

Originally posted by blue_Triangle
this ain't none of your business old man.

It's all my business, boy.

[bilmore]

Originally posted by Sidd Finch
Ooooh, good one. Because you have come up with a system so utterly fucking stupid, complicated, regressive, and potentially injurious to the comsumer spending that drives this economy, and I have criticized it, I must be too stupid to do my own taxes.


eta: The answer is no, because I can make a lot more money doing legal work in the time it would take me then it costs to pay my accountant, and doing taxes is almost as boring and annoying as discussing them with you.

I think what she's suggesting is our exact same system, with a savings deduction added.

[Say_hello_for_me]

Let's see...

Appeals court says reporters can go to jail for exposing spies (or not answering legitimate questions in an investigation related to the same). Check.

Unemployment claims at the lowest in 4 years (Hi Club!). Check.

Class action reform passed today. Most class actions now get removed to Federal Court. Check.

And did anyone read the article in yesterday's NYT about Buffalo NY (Erie, CO) slashing discretionary spending drastically... and noting that a great part of their spending is the result of unfunded state and federal mandates? Great article. My guess is that the unfunded mandates help accelerate the decline in places like Buffalo and Chicago, as college grads and companies (read: tax base) move to greener pastures and the stagnant or declining tax base has less funds to subsidize services for poor people, the number of whom may increase as college grads and companies move to greener pastures. Unlike Chicago, the people of Erie County balked, actually it sounds like they rioted civilly, at the prospect of higher local sales taxes etc. God Bless Buffalo, I guess.

and if nothing else, at least one Philadelphia lawyer can tell great stories.

Originally posted by Sidd Finch
I thought that was the rule for flames.

Flames ain't suposed to be funny- they're just supposed to be desparate and stupid and cruel. Hope that helps, but for now you need to step back away from this........

[Adder]

Anyone else really bored with discussing SS?

Any bets on how long before we invade Iran or Syria?

[bilmore]

Originally posted by Adder
Any bets on how long before we invade Iran or Syria?

What time is it?

[Say_hello_for_me]

Originally posted by Adder
Anyone else really bored with discussing SS?

Any bets on how long before we invade Iran or Syria?

I'll take your snooze and raise you a yawwwn (see above). I've been trying to keep up on the reading here, but that was too many words to keep track of.

I think Syria is within 2 years. Iran, hopefully never (and hopefully never need to).

[Adder]

Originally posted by bilmore
What time is it?

11:00

[Mmmm, Burger (C.J.)]

Originally posted by Sidd Finch
So long as the investments aren't overseas, of course.

But nah, why introduce reality into this discussion?

Yeah. We don't export much, do we.

[bilmore]

Originally posted by Adder
11:00

Okay, then, Syria in 47 days. Sort of. Because we'll be going in through their Lebanon portal.