patrick.net

Peter P says

Merit is a subjective concept.

Everything is a subjective concept

Bellingham Bill says

No, not even "wealth". People should be rewarded for saving and not consuming their income, LOL.

That is your opinion. There is no good or bad ways to spend or save money. You just need to be responsible for your own finances.

Bellingham Bill says

It's all about the flows, keeping them symmetric and preventing money from piling up with the most successful earners.

Flows are good. Rent-seeking is bad only because it is more like a black hole.

Bellingham Bill says

Everything is a subjective concept

Only to subjectivists like me.

Amazing.

Here's the link if you want to vote:
http://wh.gov/Nksv

Other ideas espoused in this thread don't seem like a solution. I think the opinions expressed by most in this thread do not prefer the working people. The working people actually do make up a majority of America and are actually what makes America great.

The obvious preference of the news articles on the current high profile "tax cliff" seems to be the same as most of the persons posting here: protect the wealthy in disfavor to the workers. Reminds me of ancient Egypt so I guess its the default human system; but, ironically, its not the one on which this country was founded nor which made America the greatest country in the world.

Bellingham Bill says

maxweber21 says

I guess internet retailers would hate the fair tax idea! Solution doesn't have to be "fair tax" but do need to move from a payroll tax system as it punishes workers.

payroll taxes do not "punish" workers.

Untax workers and landlords will take every penny of the increased disposable income.

We simply need to raise taxes to match what we're spending. This basically means double the tax burden across the board, from people who don't have a pot to piss in to Buffett.

Germany, Denmark, and Sweden have a tax-to-GDP in the 45% to 55% range. Ours is around 25%.

Oh, and fuck China. American labor rates can't compete with Chinese labor and working conditions, nor should we try.

payroll taxes do "punish" workers.

Bill, that's small business 101. Get a copy of the IRS Tax Guide for Small Business. Its clear you have absolutely no knowledge of how the income tax system actually works. Why do you think the IRS wrote out independent contractors for tech consulting decades ago? You really should learn something about how the tax system works before making arguments.

1. Did you see all those mega SUV's on the road a decade or so back? Why do you think those were bought?
2. One can write off a trip to somewhere by A. having one's own corp, or B. being on a W-2?
3. FICA, SS, Medicare et al is deducted from A. payroll, or B. distributions/dividends?
4. Dividends are the same as income for most purposes but are taxed at A. Same rate as income, or B. rate favoring the wealthy?
et nearly ad infinitum.

Cheers

BTW, Bill, I agree with your statements on rents. USA starting to remind one of a moundbuilder society.