Dave Ramsey on Debt

[nynco]

Reform unions is the answer, not elimination. There needs to be balance. I agree that Unions have caused issues esp in Detroit. But the main reason Detroit has a problem has to do with the eliminations of tariffs. No American can compete in a nation where the cost of living is 5000 dollars a year when the Americans cost is 50K. Unions did not do that to us, corporations and the politicians they own outsourced the middle class.

[Ranger]

They are getting away with lowering wages and eliminating healthcare benefits today. Right now, today... your premise that it will not happen is proving wrong right now.

Sorry, I cannot agree. I own several businesses and I eliminated health care in lieu of granting pay raises to all my employees so they can purchase their own health care since it's far less expensive than a company plan.

[jscwerve]

Reform unions is the answer, not elimination. There needs to be balance. I agree that Unions have caused issues esp in Detroit. But the main reason Detroit has a problem has to do with the eliminations of tariffs. No American can compete in a nation where the cost of living is 5000 dollars a year when the Americans cost is 50K. Unions did not do that to us, corporations and the politicians they own outsourced the middle class.

I think we differ on that one. I do think we need to do something about bringing back manufacturing to the states, I don't know if tariffs can be the answer. As for Detroit, the unions have the biggest hand in destroying the industry in that city. Example: All manufacturing facilities have machine operators and assemblers, lets say a typical wage for an assembler at a non-union plant is $12/hr. Not great pay, but not bad for unskilled labor. Same type of unskilled labor at a UAW infested plant in Dertoit/Flint/wherever is forced by unions to pay the worker $25/hr, plus another $5/hr into the union pension fund. That's great for the worker to make that kind of money for putting a bolt into a door. Not so great for the company having to pay its employees that much and not being able to develop new product for lack of R&D funds.

[Drilldov2.0]

So close tax loop holes and make all investment income taxed the same as regular income.

Raise revenue.

Taxes currently are at the lowest level in over 50 years. Your own numbers show that no matter what we do, we can't cut our way out of this. So you have to raise revenue.

Your own logic is laughably off base. We could tax 100% of every taxpayer's income and we would not even make a dent in the debt we have right now.

Higher taxes are never the answer.


And on the topic, I am still on Baby Step #2. Should be debt-free by this time next year.

[TFOGGER]

Does anyone have a good source for the actual percentage of the citizenry that actually pays any net federal payroll taxes?

The top 1% of earners pay about 38% of all federal income tax.

48% of Americans pay zero or negative net income taxes (due to earned income credits).

I'll have to find the documentation, but the numbers are pretty solid.

Edit: Info comes from the IRS

http://www.taxfoundation.org/files/f...s-20101005.pdf

The top 5% of earners account for almost 59% of federal income tax. This is for people making more than $159,614 in 2009.

[nynco]

Your own logic is laughably off base. We could tax 100% of every taxpayer's income and we would not even make a dent in the debt we have right now.

Higher taxes are never the answer.


And on the topic, I am still on Baby Step #2. Should be debt-free by this time next year.

The vast amount of wealth earned in this nation comes from investments... there is no logical reason why a working man should be taxed more than an investor. We have a budget shortfall. The only way to fix this is to cut and tax more. Tax those who have the most and already don't pay enough.

I hear a great deal about flat tax for all....... why are you afraid of a flat tax for investment income? Income is income is income...

[nynco]

Todays current economic reality and why the top 10% pay so much..... because the rest of us are not getting paid period.



todays reality post 2007 is even worse for the middle class.

[sniper7]

So close tax loop holes and make all investment income taxed the same as regular income.

Raise revenue.

Taxes currently are at the lowest level in over 50 years. Your own numbers show that no matter what we do, we can't cut our way out of this. So you have to raise revenue.

That is where you are wrong. Cut all the entitlement programs. Defense cuts meed yo be made. More power given back to the people and responsibility with it. If you want taxes raised then you can personally donate to whatever program or organization you choose but I am tired of the government spending my money for me.

You are just chalk full or horrible ideas.

[sniper7]

time and time again......... really?

Because all the data shows that we had were paying off our debt during the 60s and our debt exploded during the time of lower taxes. As to the small uptick in revenue. Well that is because we borrowed to cover our costs. This thread is about our debt problem. So unless you figure out a way to cut taxes and spending and show how we can do that well......... that won't happen.

Voodoo economics failed........ look at our debt.

No a .gov spending what money it has coming in, not a metric shit ton more. You fail.

[nynco]

Sniper, You are just chalk full or horrible ideas too