#18637 - 11/01/08 01:57 PM
Bar Stool Economics -Anman better read b4 the ban!
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Junglist
Frosted Flakes
Registered: 12/25/02
Posts: 643
Loc: Illadel, PA
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Had to take a shot at this new censorship shit getting ready to go down. Don't buy that line. Anyway, check this review of Obama's tax plan:
Suppose that every day, TEN men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do . The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. 'Since you are all such good customers,' he said, 'I'm going to reduce the cost of your daily beer by $20. 'Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his fair share?' They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings) .
The seventh now pay $5 instead of $7 (28%avings) .
The eighth now paid $9 instead of $12 (25%savings).
The ninth now paid $14 instead of $18 (22% avings).
The tenth now paid $49 instead of $59 (16% avings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.
'I only got a dollar out of the $20,'declared the sixth man. He pointed to the tenth man,' but he got $10!'
Yeah, that's right,' exclaimed the fifth man. 'I only saved a dollar, too. It's unfair that he got ten times more than I did!'
'That's true!!' shouted the seventh man. 'Why should he get $10 back when I got only two? The wealthy get all the breaks!'
'Wait a minute,' yelled the first four men in unison. 'We didn't get anything at all. The system exploits the poor!'
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
And that, boys and girls, journalists, liberals, and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, or attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
Professor of Economics
University of Georgia
For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible.
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#18639 - 11/02/08 06:01 PM
Re: Bar Stool Economics -Anman better read b4 the ban!
[Re: Fayt]
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AnmanIndustries
Cookie Crisp
Registered: 03/21/05
Posts: 2876
Loc: Planet Stupid, AKA Earth
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I think weve gone through this before.
Our tax system, is better.
Taxable income. For each tax bracket of your income, you pay tax accordingly. Essentially, no matter who you were, your first 6000 is tax free. Then your next 28000 is 15% and so on.
$1 - $6,000
Nil
$6,001 - $34,000
15% for each dollar over $6,000 (maximum tax in this bracket is 15% of $28,000= $4,200)
$34,001- $80,000
$4,200 + 30% for each dollar over $34,000 (maximum tax in this bracket is $4,200+ $13,800= $18,000
$80,001 - $180,000
$18,000 + 40% for each dollar over $80,000 (maximum tax in this bracket is $18,000, + $40,000 = $58,000)
$180,000+
$58,000 + 45% for each dollar over $180,000
Our taxes have gone down substantially. This is the chart as of 2000.
$1–$5,400
Nil
$5,401–$20,700
20 cents for each $1 over $5,400
$20,701–$38,000
$3,060 + 34 cents for each $1 over $20,700
$38,001–$50,000
$8,942 + 43 cents for each $1 over $38,000
$50,001 and over
$14,102 + 47 cents for each $1 over $50,000
And no one has ever complained about this system. Yet every one continuously complains about the american system. There is a PERFECT tax structure right here. Theres the example. I have nothing more to say other than this example.
The average person is an idiot and half the world is blow average. Most of these people run america.
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#18666 - 11/06/08 08:35 PM
Re: Bar Stool Economics -Anman better read b4 the ban!
[Re: AnmanIndustries]
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Junglist
Frosted Flakes
Registered: 12/25/02
Posts: 643
Loc: Illadel, PA
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Anman, that means if you make 51,000 Dollars per year, over half of your wealth goes directly to taxes BEFORE YOU EVEN GET PAID.
That is poverty, my friend.
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#18678 - 11/08/08 03:41 AM
Re: Bar Stool Economics -Anman better read b4 the
[Re: Junglist]
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AnmanIndustries
Cookie Crisp
Registered: 03/21/05
Posts: 2876
Loc: Planet Stupid, AKA Earth
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No.
It doesnt. I assume you're referring to the 2000 tax rate. If I earned 51000 I would pay:
0 tax on the first $5,400. Leaving me with 45600 untaxed dollars.
Id then pay $3060 on the next $15300, leaving me with 30300 untaxed dollars.
Id then pay $5882 for the next $12000. Leaving me with 1000 untaxed dollars.
Id then pay $470 on that last $1000.
So in total, I only paid $9412 in tax on my $51,000. Which is only 18.5% of my total income. Not 47%.
It clearly favours the poor.
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#18680 - 11/08/08 04:58 PM
Re: Bar Stool Economics -Anman better read b4 the
[Re: AnmanIndustries]
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Junglist
Frosted Flakes
Registered: 12/25/02
Posts: 643
Loc: Illadel, PA
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If you make over 50k, 47 cents of every dollar goes to taxes. That is stealing man.
And tax policies aren't supposed to favor the poor, nor are they supposed to favor the rich. They are supposed to be low, and non existent in most cases.
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#18681 - 11/09/08 07:39 AM
Re: Bar Stool Economics -Anman better read b4 the
[Re: Junglist]
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AnmanIndustries
Cookie Crisp
Registered: 03/21/05
Posts: 2876
Loc: Planet Stupid, AKA Earth
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Ehem. Those rates are for the year 2000. If you take a look at the current tax rates, you dont hit 45 cents per dollar till you earn 180k.
The tax system works. Tax in general is stealing regardless. Our tax economy is stable and no one complains on the scale that you guys complain. The poor dont get taxed, the rich still make more money than the poor and the government still gets plenty of revenue to run the country. There is no other tax system, other than NO tax system, which can really beat this.
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#18682 - 11/10/08 01:49 AM
Re: Bar Stool Economics -Anman better read b4 the
[Re: AnmanIndustries]
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Junglist
Frosted Flakes
Registered: 12/25/02
Posts: 643
Loc: Illadel, PA
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Actually, we have roughly the same system of taxation. It's a progressive tax, except the taxes trickle down to the poor anyway, through higher prices and inflation. So the government will have their money, so they'll give away healthcare to whomever... then those who are JUST above the line that is allowed to get that care will pay whatever the doctors charge, which is a lot because the government subsidized the process.
Since Medicare, our health costs have risen, since government grants for college, education prices have risen...
if you give everyone 1 Million Dollars, Cars will start to cost 50 Million dollars. Simple economics. Let people keep their own money and invest it. It gives people a reason to do well. As it stands, I might be inclined to take a job that pays less if I know I won't pay half of my money each year.
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