Value-added: the tax increase that may fly

[DEDixon 39]

How would I be advocating for myself? I am ineligible for any of the shitty benefits available here. I have now used and seen two types of systems and approaches and I call it as it is.

PS You don't want me to start talking about personal and family wealth.

right, because on the net, anyone can claim anything. all of us in OT are highly educated, manage our finances like none other, have no CC debt, live a perfect life.

sorry, it seems like you know how the "poor" feels so i couldn't help but wonder.

[Ali G. 37]

I work hard for my money. I work days, nights and weekends with very little

down time. I'm not some senile Warren Buffett type who spends his time

twiddling his thumbs and collecting capital gains. Yet with all the taxes

(FICA, federal, state, and city), I have to work into the month of May (or even

June) to make my first dime. Now THAT's horseshit, my friend.

Might as well tell me entertainers and the 10% of families that control a majority of America's wealth 'work hard'. Yet conveniently pay a lower tax rate than their secretaries.

Hard work is someone having to collect our trash or do the range of hands-on jobs that make society civilized for the rest of us. What do those sorts of workers get paid in the US? Jack sh-t. It's laughable to me that any pencil-pusher from NYC thinks they actually work hard; especially considering the salaries clowns earn there. Hard workers are social workers, police officers and teachers that are dealing with the societies perils for peanuts.

Spare me the tax BS, as you are a sole contractor here. As such, you get to claim a shitload of things that most others do not.

[Ali G. 37]

right, because on the net, anyone can claim anything. all of us in OT are highly educated, manage our finances like none other, have no CC debt, live a perfect life.

sorry, it seems like you know how the "poor" feels so i couldn't help but wonder.

Are you related to Marc up in WA? As you both seem to be ultra-repubs living in uber liberal areas. Bizarre.

Never said I knew "how the poor feel" but it doesn't take a genius to realize they are being short-changed here, with unlivable salaries. For example, the minimum wage in AUS is almost double that here.

You are right about the net. However, it's unrealistic to expect everyone to post their financial records and education transcripts on the net and to a bunch of strangers. Furthermore, it's you who is assuming and implying that by me speaking up against the BS being thrown out here, I must be a poor yank too.

[mawilson 2,133]

It's laughable to me that any pencil-pusher from NYC thinks they actually work hard; especially considering the salaries clowns earn there. Hard workers are social workers, police officers and teachers that are dealing with the societies perils for peanuts.

Of course, only government workers work hard. The rest of us are useless pencil pushers.

[Ali G. 37]

Of course, only government workers work hard. The rest of us are useless pencil pushers.

Quite the contrary, as the mindset of various clowns in NYC is that only they work hard shuffling money, while the rest of the country and other workers do squat. Realistically, ####### comes out of that run-down shithole city in terms of science, engineering, research etc anyway. It certainly explains why 10 years later and you guys still cannot erect a single building toppled by terrorists.

Edited April 19, 2010 by Ali G.

[mawilson 2,133]

Quite the contrary, as the mindset of various clowns in NYC is that only they work hard shuffling money, while the rest of the country and other workers do squat. Realistically, ####### comes out of that run-down shithole city in terms of science, engineering, research etc anyway. It certainly explains why 10 years later and you guys still cannot erect a single building toppled by terrorists.

Ouch, that hurts. For your information, New York City's GDP ($1.4 trillion in 2008)

exceeds that of the entire country of Australia ($1.02 trillion in 2008).

[Ali G. 37]

Ouch, that hurts. For your information, New York City's GDP ($1.4 trillion in 2008)

exceeds that of the entire country of Australia ($1.02 trillion in 2008).

Yet it's still a total craphole. Hence, the overwhelming choice of residence for the smart Brits.

No offense dudette but the majority of Manhattan would have a hard time affording the deposit for the equivalent property in Melbourne or Sydney. Sorry, we don't do zero percent down or ARMS.

Edited April 19, 2010 by Ali G.

[mawilson 2,133]

Yet it's still a total craphole. Hence, the overwhelming choice of residence for the smart Brits.

No offense dudette but the majority of Manhattan would have a hard time affording the deposit for the equivalent property in Melbourne or Sydney. Sorry, we don't do zero percent down or ARMS.

I doubt it. The era of zero-percent-down is over - most banks here now require

20 percent down. As for real estate prices in Sydney vs NYC, they are quite

similar - 10,000 AUD per square metre in Sydney vs 1000 USD per square foot in NYC.

[Ali G. 37]

On topic, a federal GST / VAT would be great for the country. It would eliminate a number of the present loopholes and even ensure illegal aliens paid their 'fair share' of tax. Much like it's implementation in AUS, as the government's debt starts to go down, they could then start to lower income tax. Interestingly enough, it's the conservatives that implemented the GST in AUS, while the left wing opposed it and preferred the US style sales tax they previously used. A 5% rate would be more than enough to begin with here.

[mawilson 2,133]

No offense dudette but the majority of Manhattan would have a hard time affording the deposit for the equivalent property in Melbourne or Sydney. Sorry, we don't do zero percent down or ARMS.

Don't know how I missed that the first time, but almost ALL Australian homeowners carry adjustable- or variable-rate mortgages.

[DEDixon 39]

Don't know how I missed that the first time, but almost ALL Australian homeowners carry adjustable- or variable-rate mortgages.

you are right and there is nothing wrong with ARMS or interest-only loans. if an ARM is cheaper, is it smarter, because americans often move within 5 years so they would never use the more expensive 30 year fixed rate. an interest-only is okay, but the purchaser only needs to have a game plan like pay his principal when cash flow is better (some people make more $$$ at certain times of the year). just because some who sign up for interest-only don't have a game plan doesn't mean the product is bad.

[DEDixon 39]

Are you related to Marc up in WA? As you both seem to be ultra-repubs living in uber liberal areas. Bizarre.

i'd say ultra from a fiscal POV (go Tea Party!!!), but not from a social POV. i'm here for the weather, but the politics. do people really locate based on politics? if they do, that is really whacked.

[Ali G. 37]

Don't know how I missed that the first time, but almost ALL Australian homeowners carry adjustable- or variable-rate mortgages.

They are not US-style ARMS. The closest thing to an ARMS is a one year "introductory" rate. Variable is a whole other story, as it depends on the current national interest rates.

Don't know where you got the idea that almost all carry that sort of an adjustable or variable-rate.

[Ali G. 37]

i'd say ultra from a fiscal POV (go Tea Party!!!), but not from a social POV. i'm here for the weather, but the politics. do people really locate based on politics? if they do, that is really whacked.

No wonder you and I don't get along, as we have polar opposite views. Ah the tea-party. Australia's ongoing success doing the total opposite, while wining international award after award, is a testament of the FAIL in logic of the tea-party.

Edited April 19, 2010 by Ali G.

[Nikita2Charles 32]

It's a great idea for a flat tax

Ask Warrent Buffet, and he will explain you how he finds it unfair that His secretary is paying more taxes as a percentage of Income than he does.

A flat tax would mean everybody are on the same level.

Nothing in this worls comes for fREE, SOMEBODY HAS TO PAY FOR IT.

WHO WILL PAY FOR THE SERVICES WE ALL ENJOY!!!

everyone should pay their "fair share" - i.e. a flat tax.

Edited April 19, 2010 by Nikita2Charles