Obama Literary Agent 1991 Booklet: "Obama born in Kenya"

[Christians4LessGvt]

In the middle of your retirement will you be happy to see taxes on capitol gains and intrest income rise a lot?

In the middle of your retirement if you get sick and are told there is a waiting list to see
a specialist or get a procedure done because the system is overwhelmed in part due to
taking care of illegal aliens will you be happy?

[sirs]

Just look at England for that answer.....waiting periods of months, to even years.  Folks doing whatever they can to come HERE for their treatments & procedures, knowing both the quality and the far quicker access is paramount

[Xavier_Onassis]

My money is invested in IRAs.
Therefore I do not pay taxes at the capital gains rate.

Any interest income I receive would be paid on the amount withdrawn from my IRA at the usual rate that everyone pays.

I expect taxes will go up, because there is no possibility that the deficit can be paid off by spending cuts alone.

[Plane]

I expect taxes will go up, because there is no possibility that the deficit can be paid off by spending cuts alone.

Why not?

What makes it more powerfull to make the government drain the economy more , than it is to make the expenses of the government less?

[Xavier_Onassis]

Perhaps if they simply abolished something large, like the Navy, they could balance the budget with no tax increases.

But they need to go beyond a balanced budget, they need to pay out more than they are taking in.

The only solution is to take in more.

[Plane]

When you take in more, you dimish the sorce.

The scorce is most of us and the limits to which we CAN be diminished are in sight.

[Xavier_Onassis]

If what you say is true, then there should be no taxes at all.

That would mean no service.

The debt cannot be paid off without raising taxes.

[Plane]

If what you say is true, then there should be no taxes at all.

That would mean no service.

The debt cannot be paid off without raising taxes.

If what you say is true then , all moneys,earnings and savings,... should be taxed at 100% resulting in lots of service ?

There is a minimum and a maximum rate of taxes that the economy can possibly stand and the govbernment can use to operate, moveing beyond the max collapses the economy just as surely as moving below the minimum would collapse the government.

Persistant high unemployment  , while a large government is maintained , strikes me as a sign that the Maximum is being approached.

[Xavier_Onassis]

You have guys like Romney making $22 million a year and paying under 15% to the IRS.

That is NOT overtaxation.

[Plane]

You have guys like Romney making $22 million a year and paying under 15% to the IRS.

That is NOT overtaxation.

Why is it not?

What would be the level of taxation that would be reasonable and sustainable?

[Xavier_Onassis]

A top bracket of around 35% (which would not mean that anyone would pay a total of 35%) would seem to me to be optimal.

There are too many expenses to set the rate at 15% for guys like Romney and 30% for someone who actually has to get their hands dirty doing real labor.

[Plane]

What about 15% for interest income, same for capitol gains, and less for income tax, perhaps zero?
?

The economy is struggleing under its load, making it carry more can't be the answer.

[Xavier_Onassis]

Of course it is the answer. If the "Job creators" who are rolling in money use that money to hire and pay employees, then the money they spend is deductible.

"Use it or lose it."

Interest income is no big deal unless you are loansharking. Interest rates are 2% or less.

Tax the fatcats on 35% of everything over $250K and see what happens.

It is not like they are spending it.

[Plane]

More than half of the money we are talking about is pension plans.

Retirement is tough enough to plan , should the government take a mor eactive interest in keeping us all working longer?

[Christians4LessGvt]

It is not like they are spending it.

they are spending it, they are putting it in banks that loan people and companies money, they are investing it capital markets that fund companies, company start-ups, company expansions, research and development....as opposed to sending it to Washington so they can give it away to people that hate us in Pakistan. I would prefer not stealing the money from the people that made it and let them choose how to spend it instead of giving more loot to the morons in Washington that didnt make the money and are on record of wasting billions in taxpayer funds.