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View Poll Results: Will future tax rates be higher?
Yes - - future tax rates will be higher. 99 74.44%
No - - future tax rates will stay the same or will be lower 23 17.29%
Other - - it's complicated and I'll post about it below 11 8.27%
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Old 05-22-2016, 03:58 PM   #81
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I hope that was not a serious comment. Wasn't Mexico described as a failed state a few years ago? I'm not sure I want USA to be that advanced. Thanks but no thanks.
It is a serious comment. That is the direction I fear that the US is headed if they keep loading on tax breaks for the rich and screwing the middle class.

(As for the "failed state" comment, I find that has little credibility unless it is in the context of the government controlling its citizens. Yes they have failed to do that!)
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Old 05-22-2016, 05:33 PM   #82
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From a sheer demographic standpoint, there will be less taxpayers in the future. The richest generation is retiring, the next generation is not going to be near the same income.

Sure, there will be some STEM jobs, but with manufacturing being done in lower wage countries, there will be lower wages and lower taxes paid.

Robots will be doing a lot of work, bringing in lower page workers to replace higher paid workers will continue. Technology will continue to make many jobs obsolete. Not everyone can be a robot mechanic. We do not need that many, and many people do not have the aptitude necessary.

New college grads cannot get good jobs and they miss some prime years building a career. Most of the population growth is from lower skilled individuals. That is why a fast food server will eventually become a lifetime career, not a stepping stone to the workforce.

In the Baby Boom generation, back in the 60s, there was no such thing as getting paid to do nothing. You worked if you wanted to eat. There was a stigma to getting assistance. In today's world, it's no big deal.

So you have the highest paid people in the USA, paying the most in taxes, retiring. They are replaced by lower skilled and lower paid people.

Do the math. It's probably a exponential equation that tax collections, unless adjusted, will be a smaller and smaller amount than what is needed.
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Old 05-22-2016, 06:42 PM   #83
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....tax anarchy... In case the word is not understood, anarchy is illegal protest.
That's very generous of you. I might call it illegal protest if they gave the unpaid taxes to the poor (other poor). If they keep the unpaid taxes, I might call it something less noble.

I live in a country where it is estimated that about 8% of those who owe taxes actually pay them, and the other 92% "illegally protest." It hasn't lead to a more enlightened and honest government here.

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Old 05-22-2016, 07:13 PM   #84
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Originally Posted by kcowan View Post
It is a serious comment. That is the direction I fear that the US is headed if they keep loading on tax breaks for the rich and screwing the middle class.

(As for the "failed state" comment, I find that has little credibility unless it is in the context of the government controlling its citizens. Yes they have failed to do that!)
If you google "is Mexico a failed state", it's out there with lots of links. But I think the wsj back in 2008 is where I first read of it. It's probably to do with controlling of the drug problem, corruption, and violence from gangs.
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Old 05-22-2016, 08:29 PM   #85
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Just curious, since Hong Kong is now part of P.R.C., how does a city generate a tax surplus that doesn't just go into the national government's coffers? How does a city run a tax surplus?


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Under the Basic Law (HK's constitution), Hong Kong has a high degree of autonomy over its own internal affairs - including its finances. In effect, taxes raised in Hong Kong stay in Hong Kong. The PRC government has control over foreign affairs and is the final decision making authority when it comes to questions of interpretation of the Basic Law. All the political rhetoric and posturing aside, in practice, the PRC government has more or less let HK do its own thing since the 1997 handover.

The current arrangement lasts for 50 years from the handover (expires in 2047) at the moment there are no arrangements in place for what happens post 2047 but I would expect a lot of screaming and yelling and demands being made after which we will probably see something pretty similar to what we have now for the next 50 years.
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Old 05-23-2016, 08:38 AM   #86
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I live in a country where it is estimated that about 8% of those who owe taxes actually pay them, and the other 92% "illegally protest." It hasn't lead to a more enlightened and honest government here.
Well I never said that the government was more enlightened. Just different. They create no illusion of being for the people.
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If you google "is Mexico a failed state", it's out there with lots of links. But I think the wsj back in 2008 is where I first read of it. It's probably to do with controlling of the drug problem, corruption, and violence from gangs.
Yes I understand editorial opinions. They make good covers for the bottom of a bird cage.

But as for the quality of government, I could not judge that. They seem to stay out of the way more than NOTB. Is that good? Sometimes yes and other times no. We don't see widespread protests.

The drug cartels are mostly invisible to regular citizens, same as everywhere else.
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Old 05-23-2016, 10:07 AM   #87
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The labor force is growing and projected to continue @ 0.5% per year for the next decade.
But relatively speaking, more oldsters drawing SS and medical will either mean a cut in services, an increase to pay for it or both. My guess is both, but seeing USA medical costs compared to the rest of the world, there will be a lot of pressure to contain the costs too.
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Old 05-23-2016, 10:50 AM   #88
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Well I never said that the government was more enlightened. Just different. They create no illusion of being for the people.
Yes I understand editorial opinions. They make good covers for the bottom of a bird cage.

But as for the quality of government, I could not judge that. They seem to stay out of the way more than NOTB. Is that good? Sometimes yes and other times no. We don't see widespread protests.

The drug cartels are mostly invisible to regular citizens, same as everywhere else.
You mean the violence doesn't bother you even if it doesn't affect you? Then why would the income disparity bothers you then? It doesn't make sense what you wrote.
I visited Mexico in 1992, after that I stayed out because of warnings from state government.
As recently, my kid's employee knows of somebody in the movie industry went down there and was kidnapped and killed. So I'm sure it's not the same as everywhere else.
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Old 05-23-2016, 01:21 PM   #89
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So I'm sure it's not the same as everywhere else.
Then I hope you stay away. Life is too short to worry. We all have to feel good about our own decisions.

Income disparity does bother me because I see it every day but there is nothing I can do to change it. (We are generous in dealing with such people and contributing to charities.) And the people that are affected do not protest.
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Old 05-24-2016, 09:12 AM   #90
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There's always the wholesale tax on goods. Don't they already have a tax on lots of things at wholesale level? Consumer doesn't know his purchase price includes wholesale tax, doesn't get angry at politician.
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Old 05-24-2016, 07:19 PM   #91
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There's always the wholesale tax on goods. Don't they already have a tax on lots of things at wholesale level? Consumer doesn't know his purchase price includes wholesale tax, doesn't get angry at politician.
There is customs duty but no manufacturing taxes (NAFTA), and retail sales tax on all goods and services. But cash is king and avoids the sales tax regularly. Many workers refuse to work for anything but cash.
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