What would you change about tax and the dollar
Posted in the Scottsville Forum
Since: Jan 13
#1 Jan 5, 2013
The way I understand it, the dollar in your pocket is borrowed, not owned. The government owns the dollar, has to maintain it, and gives a measure of value for it. The dollar has to keep moving in order to hopefully gain value and not lose value (buying, selling, savings, etc.)Tax is a part of maintaining the dollar.
1 - Who should pay tax and why?
2 - What should be taxed?
3 - How would you change the way the dollar works?
#2 Jan 6, 2013
I'll take a stab at the question.
The government needs revenue to accomplish it's 2 fundamental roles.
#1 Protect us from force and fraud both from overseas and domestic (we need police and an Army).
#2 Make sure we are able to have interstate travel so goods can be shipped from place to place.
If they focused on these two things and left the other stuff to the people they wouldn't need much money. But they don't so they need Trillions of dollars.
Who- anyone buying a product or paying for a service should pay a tax.
What- If you kept track of all the taxes you pay in a months time I'm sure you would be surprised. I wouldn't want to do it because I'm sure my head would explode. We pay taxes on our phone bill, light bill, our house, our car, the gas in our car (state and federal). We pay taxes on the goods we buy and sell. We pay fees for permission to do just about everything. We buy permits to hunt and fish. Tags for our cars. Permits to improve our homes. Fees for inspections required by the government. Taxes on the rental cars we rent and hotels we stay in..........You see why I argue so much about taxes? We are taxed enough already. All these taxes I can live with but I don't think that there should be an income tax. The income tax is a tax on productivity. The more productive of a person I am the more I am taxed. I can sit and be a slug and not pay a dime or I can work 60 hours a week and pay through the nose. I have seen people turn down overtime becasue the tax man will get most of the extra money earned and it isn't worth the person's time. I pay taxes to the Federal Goverment, the State Government, and the City Government. All of these entities have their hand out each week waiting for their cut from my hard work. What have they done to earn any of it? Zip!
At one time the dollar was backed by gold and silver. You can't print either of these so people knew that if things went bad they could aways have gold as a back-up. Now we print money. There is no backing of the money other than the politicians who say its worth something.
The Federal Reserve has been printing money and using it to by bonds from the treasury department. We are actually loaning money to ourselves at an extremely low rate. The Fed is keeping rates low so we wont have to pay ourselves back so much interest. Sounds like a sweet deal right? Seems to be working well until the Chinese decide that the rate on their loan isn't high enough. The risk is while we have been keeping rates very low we are also racking up record debt. There will come a time when the rates will need to be adjusted up to the point that they really should be. When this happens people will not be able to afford a car, house, or anything else that they will need a loan for. History points us to the Weimar Republic. They practiced quanitative easing as we are and it lead to hyperinflation and ulimately opened the door for Hitler to come in and "help" the people of Germany in their time of economic woes. The Federal Reserve people know this and still continue to keep rates low.
That's all I got Fat bottom Girl. Not sure what we could do but sure don't think Borrowing money from ourselves and then throwing it to the wind is the answer. I'm not saying the the policies of this government will lead to a Hilter like uprise but it will lead to high interest rates and that is never a good thing.
#3 Jan 6, 2013
Make the lazy go to work and actually get a J O B! People that are on welfare that should not be, let them find a job or starve and three, give the working stiff a huge break!!
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