« First « Previous Comments 108 - 147 of 206 Next » Last » Search these comments
the Dept. of Defense today is needed
clambo says
the Dept. of Defense today is needed
Wasn't needed in the late 1700's when we handed the greatest Army in the world their asses.
It's not, they are losing
They need people to man their side,
clambo says
the Dept. of Defense today is needed
Wasn't needed in the late 1700's when we handed the greatest Army in the world their asses.
AD says
that one Patnet poster who I think is a Naval Academy alum
We have a Canoe U poster here?
You don't need a 2 million standing army (i..e, active duty , not reserve and national guard). You don't need that with the technology of war today.
Its about about the Pentagon wisely spending taxpayer dollars to ensure the adequate readiness level.
With quite a spot of help from the French. I 1812 we could not stop the British from landing near Yorktown and marching around 100 miles to sack Washinton.
I have an inherited IRA worth about $200K and I take about $10K out which is going up each year (RMD is based on my age).
Headset, I believe the RMD rules that applied when I inherited in 2017 it still apply.
Submarines, not Carriers, are the wave of the future.
No one conquers a people without a ground invasion.
US Citizens and legal residents must file a 1040 regardless of where they reside.
Simply moving doesn't save Federal taxes, just state taxes.
So If I go to, say, Portugal, won't my Social Security Income still be taxed before I receive my check?
clambo says
US Citizens and legal residents must file a 1040 regardless of where they reside.
Simply moving doesn't save Federal taxes, just state taxes.
False if you become a citizen of the country you move to. Most want your money and bam, you're a citizen at that point. Either way this is why Puerto Rico and the USVI is a good move as territories. Nothing you need to do and tax advantaged. Hurricanes suck, but the Caribbean is one of the best places on the planet. That's where my snow bird condo will be and I can erase taxes.
rocketjoe79 says
So If I go to, say, Portugal, won't my Social Security Income still be taxed before I receive my check?
If you stay a US citizen, than yes. And if you renounce your citizenship then no SS check will be coming your way, per my understanding.
Moving isn't necessary, renouncing citizenship is. Although even that seems questionable as they just arrested Crypto Jesus despite him living in Spain, and no longer being a US citizen.
« First « Previous Comments 108 - 147 of 206 Next » Last » Search these comments
Until the 16th ammendment was passed in the early 1900's, we got by without fedetal income taxes. Tariffs did the trick. Of course, we were not yet the superpower we became, huge millitary and all, and there were not nearly the federally funded social programs we have today.
Frankly, I don't think your average American realizes how heavily they are taxed. Federal. State (with some excaptions) Property. School. Gas. Sales. Etc.
For most in the middle and upper middle class, federal income tax is the biggest share of taxes paid on a percentage basis.
In a modern captalist economy, it makes more sense to me to tax consumption rather than income.
So why not abolish the federal income tax, and instead have a federal tax on goods and services rendered. Better yet, couple it with a balanced budget amment so that the government can't spend money they don't have.
Taxing goods should be straightforward to implement. Buy a bag of rice, clothes, a house, a car, stock, etc. tax it at a nominal rate to raise sufficent revenue to keep the government running. Tax should apply to individuals and corporations alike. I have no idea what the rate would need to be to replace the lost income income revenue, but there must be a way for the been counters to figure that out.
Same holds for services. From your lawyer to your plumber to your accountant.. services rendered should also be taxed... possibly at a different rate than physical goods, since we are a "service based economy".
Just thinking out loud here.. In the 21st century there MUST be a better way to raise revenue than income tax and the various loopholes used to reduce or even avoid ones tax burden.