(08-08-2011 03:37 PM)Redwingtom Wrote:  Professor of what, tax or accounting?

I would like to know your specific calculation for the FICA portion. As I said, it's at most only 7.65% of your income and you have a figure of over $7,000 there on an average income of only $53,000+

Not to mention, that for the most part you will get your portion of it back...yeah...I believe Social Security will always be there for me

You're only counting the explicit employee portion of FICA. Your employer pays FICA, too. And there's only two places for those FICA taxes on your employer to be payed off at: by YOU again at the cash register, or by YOU again with a lower salary.

See, the government counts on you being too stupid to realize you're paying the whole thing.

(08-08-2011 03:37 PM)Redwingtom Wrote:  

(08-08-2011 03:20 PM)georgia_tech_swagger Wrote:  I eagerly await your refutation. My liberal professor couldn't debunk my work. And he begrudgingly told me he tried.

Professor of what, tax or accounting?

I would like to know your specific calculation for the FICA portion. As I said, it's at most only 7.65% of your income and you have a figure of over $7,000 there on an average income of only $53,000+

Not to mention, that for the most part you will get your portion of it back...yeah...I believe Social Security will always be there for me

Or maybe the Tooth Fairy will bring you a nest egg.

For goodness sake, can we just make Bowles-Simpson the law of the land the first week Congress is back, and spend the rest of the year getting the details worked out?
Or Rivlin-Domenici?
Or the Gang of Six?
Or just punt the "Bush tax cuts" for the "rich" in exchange for $100-200 billion more per year of real spending cuts?

Problem is, none of these is more than a start, and we need more. I've posted my idea of how to solve it. Anybody else got one?

No more foreign aid. A bit symbolic, but it would show the world we are serious about our own country.

We deserved the downgrade; we've deserved it for years. The Tea Party is not responsible, they put forth cut, cap, and balance. The Dems put forward nothing except gimmicks. I think the Tea Party is on the right path, it's a good start. Better than Dems or Repubs overall. Not perfect, but decent.

Personally, I'd like to see replacement of the income tax with a VAT or national sales tax, strong tariffs to encourage business here, removal of almost all other taxes, fair trade agreements (aka we have the same standards, if you cheat at free trade, we raise tariffs against you or ban your products), no foreign aid, and a balanced budget amendment. Reduce the the federal government, close most of our overseas military bases, cut the size of the military, end the wars, reform entitlements, and pay off the debt. That's what we have to do to get rid of the structural problems in the US.

Balanced budget amendments are a great idea until you're attacked and need to go to war.

/just saying

(08-08-2011 03:35 PM)Paul M Wrote:  

(08-08-2011 02:47 PM)Machiavelli Wrote:  YOU CAN'T GET there just with spending cuts.

Yes you can.

+1 .... I find it positively delusional to think you can't balance through spending cuts.

(08-08-2011 02:46 PM)Lord Stanley Wrote:  

(08-08-2011 02:28 PM)ImMoreAwesomeThanYou Wrote:  If and when Obama loses in 2012 look out for complete racial anarchy. This is irrelevant to this thread but...that doesn't seem to matter to most of the Libs on here either.

Utter nonsense.

Baseless optimism.

(08-08-2011 06:42 PM)DrTorch Wrote:  

(08-08-2011 02:46 PM)Lord Stanley Wrote:  

(08-08-2011 02:28 PM)ImMoreAwesomeThanYou Wrote:  If and when Obama loses in 2012 look out for complete racial anarchy. This is irrelevant to this thread but...that doesn't seem to matter to most of the Libs on here either.

Utter nonsense.

Baseless optimism.

I’d be more optimistic if I thought it would help.

Speaking of FICA, remember that it reverts from 5.65% back to 7.65% on January 1, 2012. Enjoy that 2% cut to your gross pay next year!

(08-08-2011 03:40 PM)georgia_tech_swagger Wrote:  

(08-08-2011 03:37 PM)Redwingtom Wrote:  Professor of what, tax or accounting?

I would like to know your specific calculation for the FICA portion. As I said, it's at most only 7.65% of your income and you have a figure of over $7,000 there on an average income of only $53,000+

Not to mention, that for the most part you will get your portion of it back...yeah...I believe Social Security will always be there for me

You're only counting the explicit employee portion of FICA. Your employer pays FICA, too. And there's only two places for those FICA taxes on your employer to be payed off at: by YOU again at the cash register, or by YOU again with a lower salary.

See, the government counts on you being too stupid to realize you're paying the whole thing.

Obviously it must have been Professor Plum!

Dude, with all due respect, your nuts.

(08-08-2011 10:55 PM)Redwingtom Wrote:  Obviously it must have been Professor Plum!

Dude, with all due respect, your nuts.

The irony of these two sentences is overwhelming.

After you brush up on grammar (important if you're going to imply stupidity, you know...), I await your refutation.

Yeah, go with that!! Meanwhile I'll go reprogram my swype just for you're pleasure

And I suppose you have someone besides yourself who backs up your cooked numbers?

(08-08-2011 11:25 PM)georgia_tech_swagger Wrote:  

(08-08-2011 10:55 PM)Redwingtom Wrote:  Obviously it must have been Professor Plum!

Dude, with all due respect, your nuts.

The irony of these two sentences is overwhelming.

After you brush up on grammar (important if you're going to imply stupidity, you know...), I await your refutation.

Exactly. He supports what's going on now. The Tea Party had NOTHING to do with this as they didn't get a Gdamn thing they wanted because they were screwed by RINOs. What we're seeing is liberal policies continued. ...and you're the nut? Consider the source, GTS.

Rebel, shut the **** up you partisan hack! We're talking about his "scientific" calculation of the average tax burden.

Not your ridiculous tea party nonsense!

P.S.: How's Herman's Muslim apology tour going? LMFAO!!

(08-08-2011 11:37 PM)Redwingtom Wrote:  Rebel, shut the **** up you partisan hack! We're talking about his "scientific" calculation of the average tax burden.

And speaking of which ... riddle me this:

Just who do you think pays corporate taxes (assuming they can't get an Obama GE-style greenwashing handjob on their corporate taxes)?

Just who do you think pays the corporate side of the FICA taxes?

And in case you're going to be short sided and say "the company" ... where does the company get that money from??

(08-08-2011 11:41 PM)georgia_tech_swagger Wrote:  short sided

BRILLIANT...LOL

(08-08-2011 11:37 PM)Redwingtom Wrote:  Rebel, shut the **** up you partisan hack! We're talking about his "scientific" calculation of the average tax burden.

Partisan? Which party am I being partisan to, fool?

(08-09-2011 08:35 AM)Redwingtom Wrote:  

(08-08-2011 11:41 PM)georgia_tech_swagger Wrote:  short sided

BRILLIANT...LOL

(08-08-2011 11:29 PM)Redwingtom Wrote:  Yeah, go with that!! Meanwhile I'll go reprogram my swype just for you're pleasure

BRILLIANT.

But seriously, what scientific study can you sight (pun intented ) that quantifies what goods and services would cost if there were no taxes compared to what they cost with the current tax rates?

Other than your own of course!

I guess my feeling is that you can in no way know this.

And yes, I understand the "no free lunch" and that costs of goods have a production cost tax component. I just would like to see another source...that's all.