Dave Ramsey on Debt

[UberTong]

I'm gonna derail my own thread here for a minute. I just spoke with my college roommate and he is currently in PA (physicians assitants) school. I asked him how he did on final exams. He said good in everything except "MEDICAL SPANISH". Just gonna go out on a limb and say screw that hard...have at it people, that's bullshit. So not only do illegals come here ILLEGALY, but we are now catering to them.

Second item, I thought this was cool because it would never happen today in our spineless, mangina ridden society.
Today in 1981: President Reagan fired 11k striking federal air-traffic controllers who ignored his order for them to return to work.


//rant over.

Man now we are on taxes, and I tried so hard to derail my own thread. Didn't even get a comment. No respect I tell ya...

[nynco]

Man now we are on taxes, and I tried so hard to derail my own thread. Didn't even get a comment. No respect I tell ya...

When Reagan broke the ATC union it set the tone for the destruction of most all unions and thus the downward slide of the middle class.

[Inconel710]

Today in America we have a REGRESSIVE tax rate. Any one who tells you different does not understand how taxes really work or how a hedge fund manager or investor earns income.

That's why you become an investor!

[UberTong]

When Reagan broke the ATC union it set the tone for the destruction of most all unions and thus the downward slide of the middle class.

Give me warning next time you post something like that, I couldn't get my trashcan close enough, just vomited all over.

Doing away with unions is the downward slide of the middle class? Unions?

[nynco]

I'll chime in I guess. Disclaimer: I know dick about economics. I think about it and my head hurts.

I do think a flat tax is a good idea. On investment income. That way all investments can be handled the same way. Same as business. the billion dollar company pays the same rate as joe blows bait shop.

Also I think that we need to give incentive for companies to bring manufacturing back to the states. I have been working in manufacturing for about 15 years now and let me tell you it's getting pretty difficult to find jobs. I don't know how to do this, import taxes? Penalties for having manufacturing facilities in other countries? I don't know how to go about that with "free trade".

I think a consumption tax would be a better idea than the income tax system. I go out and buy a $20k vehicle, I pay my (I'm guessing) 20% tax on that, the gov gets its $4k in taxes. Mr. Hedge fund manager goes out and buys a $200k bently, the gov gets its $40k in taxes. He paid more taxes, but same rate. In addition, illeagles make up MILLIONS of people that pay no taxes, yes they send most of the money back home, but while they are here they have to buy things like gas, food, vehicles, etc. Having a consumption tax instead of income tax closes the loop of people working under the table. Doesn't fix the ginormous immigration problem, but gets some money from them.

Like I said, I know just about nothing about economics, I'm a computer geek. Am I wrong to think that something like this would be a good Idea?

At this point a flat tax would be better than the regressive tax system we currently have. It looks like we have a progressive tax system till you realize that the mega earners earn all money through dividends and investing. Those people should not be paying less than a middle class person.

As to bringing back manufacture. I would suggest that people look to one of the founding fathers of this nation. I think we need to return to Alexander Hamilton's 11 point plan on economics and manufacture. http://www.commondreams.org/view/2008/12/17 Scroll down the page if you don't want to read it word for word from Hamilton.

A consumption tax is the largest form of regressive tax out there. Joe middle class spends all his earnings to survive. But it is impossible for a hedge fund manager to spend 1 billion a year on goods. So what happens is the "effective" tax rate for joe middle class his 100% of his earnings and it the billion dollar hedge fund manager is only subject to taxes on perhaps 1% alone.

For the first 100 years of this nation 90% of all tax revenue came in from import tariffs. We need to return to that model.

[nynco]

Give me warning next time you post something like that, I couldn't get my trashcan close enough, just vomited all over.

Doing away with unions is the downward slide of the middle class? Unions?

With the rise of unions in the 1940s, so do did the middle class rise out of the poor and working class. As unions have been broken the middle class has started to disappear like today. Historical fact.

[Ronin13]

Give me warning next time you post something like that, I couldn't get my trashcan close enough, just vomited all over.

Doing away with unions is the downward slide of the middle class? Unions?

Haha, I about fell over when I read that! I have a few friends I went to high school with and back then they worked at King Soopers. They were actually encouraged to join a union for KS employees... here's the best part, at $8.50/hr the unions were taking something to the effect of 7.5% of their earnings, and that goes in conjunction with all the other withholding like state and fed tax and SS... WTF? Remind me how unions contribute to the betterment of the middle class?

[tmleadr03]

With the rise of unions in the 1940s, so do did the middle class rise out of the poor and working class. As unions have been broken the middle class has started to disappear like today. Historical fact.

Just like the rest of the historic facts you pepper this board with.

[UberTong]

With the rise of unions in the 1940s, so do did the middle class rise out of the poor and working class. As unions have been broken the middle class has started to disappear like today. Historical fact.

Hmm quite a historical fact, where were you educated mr new york and company? So you think Unions are beneficial?

[Ranger]

For the first 100 years of this nation 90% of all tax revenue came in from import tariffs. We need to return to that model.

To what end Nynco? Would we increase taxes on all imports so that they would then do the same for our exports? This isn't the first 100 years where our imports/exports were nowhere near where they are now nor was our market the driving market of the world nor were we anything more than a small struggling country with just a couple million people. That model can no longer work in a global economy.

And the class warfare that you want to wage, who will that benefit in the end? Raises the taxes on the rich, that's what I keep hearing, yet those "rich" are the ones who create jobs and expand our economy. So we penalize them for what? For being better off than the rest of us, that's what it boils down to. The rich are easy targets, they are the haves and we are the have-nots.

Rubbish.