Jump to content


Photo
- - - - -

9 Things The Rich Do Not Want You To Know About Taxes


  • Please log in to reply
24 replies to this topic

#1 Delhommey

Delhommey

    Moderator

  • Moderators
  • 12,403 posts

Posted 18 April 2011 - 07:55 PM

At first blush the German tax burden seems horrendous. But in Germany (as well as in Britain, France, Scandinavia, Canada, Australia and Japan), tax-supported institutions provide many of the things Americans pay for with after-tax dollars. Buying wholesale rather than retail saves money.

A proper comparison would take the 30 percent average tax on American workers and add their out-of-pocket spending on health care, college tuition and fees for services, and compare that with taxes that the average German pays. Add it all up and the combination of tax and personal spending is roughly equal in both countries, but with a large risk of catastrophic loss in America, and a tiny risk in Germany.

Americans take on $85 billion of debt each year for higher education, while college is financed by taxes in Germany and tuition is cheap to free in other modern countries. While soaring medical costs are a key reason that since 1980 bankruptcy in America has increased 15 times faster than population growth, no one in Germany or the rest of the modern world goes broke because of accident or illness. And child poverty in America is the highest among modern countries—almost twice the rate in Germany, which is close to the average of modern countries.


http://www.wweek.com...bout_taxes.html

#2 Catalyst

Catalyst

    Senior Member

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,107 posts
  • LocationMorehead City

Posted 18 April 2011 - 10:00 PM

OMG SOCIALISM! HOW DARE YOU?! Posted Image

#3 Panthers128

Panthers128

    SENIOR HUDDLER

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 5,283 posts

Posted 18 April 2011 - 10:12 PM

America has failed its people.

The first Chancellor of Germany was able to accomplish universal healthcare. In contrast the 44th President of the United States is in the process of accomplishing it.

#4 ChucktownK

ChucktownK

    Gitmo Nation Detainee

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 12,043 posts

Posted 18 April 2011 - 10:23 PM

45% of Americans pay no income tax (federal)

:lol:

Astros fan learns there’s no such thing as 315 free donuts


Everyone knows you're going to get hit with a hefty tax bill when you go on "The Price Is Right" and win a Corvette, a living room set and a trip to Aruba. Same goes for the cash you take home after playing hangman with Pat Sajak and Vanna White on "Wheel of Fortune."
But getting issued a 1099 form and taking a $237 tax hit after winning over 300 coupons for free donuts and coffee on fan appreciation day at a Houston Astros game?
Well, that's about as unpleasant of a surprise as tasting a chocolate creme filling when you were expecting Bavarian:
Yet that — and presumably thousands of empty hidden calories — were the hidden costs for Bob Choate. As the Houston Chronicle reports, the Astros fan thought he had hit a jelly-filled jackpot when he won 315 coupons for a free coffee and doughnut at Shipley Do-Nuts last season. But the prize was estimated by the team and chain to be worth $927.61 — or about $3 a coupon. And that led to them requiring a 1099 tax form to be issued because it was above the $600 threshold.
Choate thought the doughnuts and coffee were not worth that much. In fact, he only used eight coupons because — let's face it — there's no way anyone could ever cash in 315 coupons and live to tell about it. He brought this up with both the team and doughnut chain and after getting no relief from the Astros, doughnut baron Lawrence Shipley agreed to cover the tax on his goods.
From the Houston Chronicle:

Choate said he's made the exchange with the Astros and Shipley a lesson for his kids.
"I told them that if you think something isn't the way it should be, speak up and be professional and reasonable and diplomatic," he said. "And, if you're on the other side of the table, you should listen."

But before you start thinking that Choate is a chronic complainer who's only looking for a free ride — or 26 free dozen doughnuts — know this: He was so impressed by the doughnut chain's gesture that he says he's going to donate $237 to Shipley's favorite charity. I'll dunk a cruller to that.


Edited by ChucktownK, 18 April 2011 - 10:41 PM.


#5 pstall

pstall

    Gazebo Effect

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 19,211 posts
  • LocationMontford

Posted 18 April 2011 - 10:43 PM

i always find these "studies" funny because they will quickly trot out Warren Buffet's tax bills being the same as a janitor, but never seem to want to tackle how Warren's food tax is also the same.

i also doubt the Dept of Treasury would turn down any extra payments from those who think this system is currently unfair and want to pay more. Right Warren? You could give your secretary a raise and then she would pay more in taxes.

yes, the code needs to be modified. the 30 yr window of supply side is teh evil. haha

whats next, a John Hughes to income of movie goer index from 84-90 is supposed to explain away ALL econ ills?

let me guess. raising taxes will solve it all? and Lady Gaga doesn't have attention DEFICENT disorder

#6 Matt Moore

Matt Moore

    Senior Member

  • HUDDLER
  • PipPipPipPipPipPip
  • 1,423 posts

Posted 18 April 2011 - 10:44 PM

too late; was already aware of all of that stuff

#7 pstall

pstall

    Gazebo Effect

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 19,211 posts
  • LocationMontford

Posted 18 April 2011 - 10:51 PM

the concept is simple. when i was in wealth mgt, the big money folks, would pay virturally no fees on their accts. they call and everybody would jump.

but a dude with $19.34 in his acct wants to get an ATM fee of 1.50 waived is laughed at. while on mute of course.

#8 Dpantherman

Dpantherman

    certified pee-on

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 26,439 posts

Posted 18 April 2011 - 10:56 PM

Marxists

#9 Delhommey

Delhommey

    Moderator

  • Moderators
  • 12,403 posts

Posted 18 April 2011 - 11:22 PM

the concept is simple. when i was in wealth mgt, the big money folks, would pay virturally no fees on their accts. they call and everybody would jump.

but a dude with $19.34 in his acct wants to get an ATM fee of 1.50 waived is laughed at. while on mute of course.


At least that makes sense. The hidden charges y'all collected from the fat cats on their trades and funds would cover a thousand ATM fees.

The tax breaks just come from simple bribery.

#10 googoodan

googoodan

    Memberest

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 10,359 posts
  • LocationBayside

Posted 18 April 2011 - 11:28 PM

....wondering how many of you have lived in Germany

#11 bredy087

bredy087

    The Comeback Kid

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 2,002 posts

Posted 18 April 2011 - 11:54 PM

Got meningitis in Berlin. At first they simply asked for my SS #, said everything would be taken care of. They soon realized that I was American but said it didn't matter I could pay cash whenever. I probably could have walked outta that hospital without paying a dime.

#12 BBQ&Beer

BBQ&Beer

    The good actor

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 3,965 posts
  • LocationMissouri

Posted 19 April 2011 - 12:08 AM

....wondering how many of you have lived in Germany


I did for 6 months, student exchange at the Univ. of Munich. Don't remember much, what they say about American beer is true for the most part.

(sigh... ok, I admit it I remember everything. Its just that long periods of drunken whoring sounds cooler than in depth study of Brecht.)

Edited by BBQ&Beer, 19 April 2011 - 12:16 AM.


#13 bredy087

bredy087

    The Comeback Kid

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 2,002 posts

Posted 19 April 2011 - 01:09 AM

Glad someone got to enjoy Germany.

#14 Catalyst

Catalyst

    Senior Member

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 4,107 posts
  • LocationMorehead City

Posted 19 April 2011 - 03:31 AM

I've always felt the rich should be taxed at a higher rate. No matter what, there will always be elderly people in need of medicare and social security, poor people in need of wellfare assistance, military budgets that need funding, public works programs, etc. I do feel like the wellfare system needs major reforms as it works backwards, rewarding people for not working with more benefits while taking them away from those who try to help themselves. Not to mention all the benefits given to illegals who come here just to have kids and take advantage of our social safety net.

But with taxes, I really think we took a wrong turn during the Reagan years, TBH. I realize to most conservatives Ronald Reagan is a bit of an icon, but I've never understood why. He cut taxes and - just like Bush - never cut spending. The results were the same in both cases (recession) and in both cases the two were near the end of their 2nd term before the effects really began to become apparent.

You simply can't cut taxes if you're not going to also cut spending. It just doesn't work that way. I agree 100% we need to take a serious look at where our money is going and cut spending, but right now we also have to raise taxes on the rich to help get this deficit paid down. It was cutting taxes while spending out of control that got us to this point; now it's going to take cutting spending and raising taxes to get us out. Had Bush done the responsible thing and cut spending at the same level he cut taxes we may very well not be in this mess; at least not at the level that we are.

I'm no huge Obama fan, but this idea that he's responsible for the deficit is laughable. It was at record levels when he took office. He's certainly added his share to it, but it was the irresponsible economic policy of the Bush years that really drove it so high. Now Bush is out on some ranch somewhere while the taxpayers foot the bill for 8 years worth of some of the most reckless and short-sighted economic policy I have ever seen.

I go back to the 60's when tax rates on the rich were MUCH higher. The minimum wage of $1.60 per hour had its highest purchasing power ever ($9.86 per hour in today's dollars) and the middle class was what America was all about. Over the decades, the tax rates on the rich have gone down, profits gone up, and middle class wages have stagnated. The minimum wage was stuck at $3.35 from 1981-1990 and at $5.15 from 1997-2007.

Think about that: it went from $1.60 per hour to $3.35 from '68 - '81. That means it more than doubled in 13 years and yet in the next 9 it didn't go up a single dime? Meanwhile, the rich have gotten tax break after tax break, richer & richer all while the middle class is under siege from corporate America, wall street, and their bought & paid for puppets in Washington.

#15 mmmbeans

mmmbeans

    FBI SURVEILLANCE VAN

  • HUDDLER
  • PipPipPipPipPipPipPipPipPip
  • 14,000 posts

Posted 19 April 2011 - 08:04 AM

i always find these "studies" funny because they will quickly trot out Warren Buffet's tax bills being the same as a janitor, but never seem to want to tackle how Warren's food tax is also the same.

i also doubt the Dept of Treasury would turn down any extra payments from those who think this system is currently unfair and want to pay more. Right Warren? You could give your secretary a raise and then she would pay more in taxes.

yes, the code needs to be modified. the 30 yr window of supply side is teh evil. haha

whats next, a John Hughes to income of movie goer index from 84-90 is supposed to explain away ALL econ ills?

let me guess. raising taxes will solve it all? and Lady Gaga doesn't have attention DEFICENT disorder


what is going on in this post?


0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users

Contact Us: info@carolinahuddle.com - IP Content Design by Joshua Tree / TitansReport.