Will Obama help or hurt Fractionals

[Sparse]

The real question is "Will Obama hurt you ?"

Are our 401ks at risk of governent takeover? No one in the media talked about this.

http://www.workforce.com/section/00/article/25/83/58.php

 

[gunfyter]

Are our 401ks at risk of governent takeover? No one in the media talked about this.

http://www.workforce.com/section/00/article/25/83/58.php

I saw this coming at least 10 years ago. SS will collapse and the people who saved will have these accounts raided.

 

[AeroBoy]

Sparse said: "No one in the media talked about this."

And you link to a story <wait for it> from a publication -- i.e. the media. Anyway, the story says that the committee is merely looking at ways to overhaul the system. Nothing has been proposed at this time. Let's leave it at that and stop the rampant speculation.

Gunfyter: The last sentence above applies to you, too.

 

[Sparse]

Sparse said: "No one in the media talked about this."

And you link to a story <wait for it> from a publication -- i.e. the media. Anyway, the story says that the committee is merely looking at ways to overhaul the system. Nothing has been proposed at this time. Let's leave it at that and stop the rampant speculation.

Gunfyter: The last sentence above applies to you, too.

Correction; The mainstream media. Stick your head in the sand if you like, but if they are holding hearings, they are thinking about it. Do you want them tinkering with the 401K system at all, let alone overhauling it? The professor refers to the government as subsidizing the system. Maybe the interest on the deferred tax, but in the end the tax gets paid.

 

[rettofly]

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 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, 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

Can you say "Atlas Shrugged"? Dr. Kamerschen is dead on.

The best solution is a tax on consumption. It rewards thrift. I believe it's called "THE FAIR TAX". Unfortunately, it's not going to happen as long as the non-producers can subsist by voting to drain the pockets of the producers.

 

[rettofly]

The Bush Labor Dept. has arguably been the most anti-union is history. It has instituted rules designed to undermine union's abilities to exist, let alone thrive.

And this is bad because........?

 

[AeroBoy]

Rettofly,

"The Fair Tax" is fair in name only. It's actually a regressive tax because the poor would actually be in a higher tax bracket (by tax paid in relation to what they earn) than the middle or upper class. A progressive tax system lowers the tax burden for the poor and places more on the rich.

Question for the Christian right: if Jesus were with us today, which system would he be promoting? If the moral majority wants to talk the talk, then they better be prepared to walk the walk, too.

 

[G100driver]

Question for the Christian right: if Jesus were with us today, which system would he be promoting? If the moral majority wants to talk the talk, then they better be prepared to walk the walk, too.

Haven't you heard the good news?

The more you talk about Jesus, the less you have to act like him!

 

[gunfyter]

Rettofly,

"The Fair Tax" is fair in name only. It's actually a regressive tax because the poor would actually be in a higher tax bracket (by tax paid in relation to what they earn) than the middle or upper class. A progressive tax system lowers the tax burden for the poor and places more on the rich.

Question for the Christian right: if Jesus were with us today, which system would he be promoting? If the moral majority wants to talk the talk, then they better be prepared to walk the walk, too.

Robin Hood would be for the Income Tax... since it is stealing.

Now the poor would effectively not pay tax as they would receive a Prebate up to the poverty level. Right now, although the poor may not pay ANY income tax out of their paychecks ... They are paying the passed along cost of corporate tax, payroll taxes, compliance costs ... embedded in the cost of the things they buy.

Right now we (middle class) are already paying the 23% cost of the Fair Tax. It is already embedded in the cost of all the products and services you buy. It is the cost of all the corporate taxes and payroll taxes and tax-code compliance costs that are added into the cost of doing business.

IOW the cost of products you buy ... a certain percentage of the price represents the costs of paying all those taxes and complying with income tax code. So though you may be in a 15% marginal tax bracket today ... that is NOT the total cost to you of the tax code. You are paying, embedded in the price of products you purchase, the passed along cost of corporate taxes and taxes the rich owners of corporations pay.

Stuff rolls downhill ... and you live in the valley.

 

[blueridge71]

Rettofly,

"The Fair Tax" is fair in name only. It's actually a regressive tax because the poor would actually be in a higher tax bracket (by tax paid in relation to what they earn) than the middle or upper class. A progressive tax system lowers the tax burden for the poor and places more on the rich.

Question for the Christian right: if Jesus were with us today, which system would he be promoting? If the moral majority wants to talk the talk, then they better be prepared to walk the walk, too.

The poor would get a prebate up to the amount of the poverty level. The Fair Tax is levied only on new products, so if people bought only used items, they would not pay any taxes.

The current tax code punishes production. The Fair Tax is consumption driven and would encourage savings.

The only time that I can remember Jesus discussing tax policy is when He said, "render under to caesar that which is caesar's" (Matthew 22:21).

Jesus would most likely promote a system that encourages people to be productive. In the same breath He said to "render under God that which is God's." Christians are told to support the church and the church is told to help the poor.

Jesus would not like a system that saps people of the will to be productive and support themselves if they are able. 2 Thessalonians 3:10 says "For even when we were with you, this we commanded you, that if any would not work, neither should he eat. "

Note that this does not address people who cannot work, but only those who will not.