Is The Occupy Wall Street Movement an Answer to The Tea Party Movement?

[heironymouspasparagus]

Sounds essentially like a consumption tax which is what the "fair tax" is.  Unless you come up with a rebate for lower earners though it's incredibly regressive which will really piss off the libs.  There's plenty of dispensation now for special people as you say.  Like the 47% who pay no Federal income tax now.

No.  No wage earner pays any regular income tax on wages at all.  It all goes through corporations.  And the going rate now appears to be about 36% based on our level of spending.

I guess it could be thought of as a fair tax, just different path for money flow.  People doing business would still be paying the tax, just like they do now.  They just wouldn't have to deal with the bookkeeping (except for capital gains and inheritance tax).  The tax form for individuals would be very simple.

1.  Amount of sale     xxx.xx
2.  Cost of sale          yyy.yy
3.  Gain                  xxx.xx - yyy.yy
4.  Multiply gain by .25  == tax due.

5. Enter value of inheritance over $5 million.
6. Multiply by .5  == tax due.

7. Add 4 + 6.  Send it.

Simple.

[guido911]

Carolla, round II.

http://hotair.com/archives/2011/12/01/adam-carollas-r-rated-but-right-on-rant/

And please, refute this video.

[Red Arrow]

No.  No wage earner pays any regular income tax on wages at all.  It all goes through corporations.  And the going rate now appears to be about 36% based on our level of spending.

Of course those corporations will gladly absorb the additional taxes without increasing sales prices. Well, maybe not.  The increased prices won't hurt people presently paying income tax since they will have more spendable money approximately equal to the income tax they are now paying.  People not presently paying income tax will now be paying tax through increased product prices.  We all know that some notable corporations get some big tax breaks but the official rate is already 35%.  If you eliminate the personal income tax you will need to move it to the corporate rate.  I think that even closing loopholes, your 36% will be too low for present spending levels.

I guess it could be thought of as a fair tax, just different path for money flow.  People doing business would still be paying the tax, just like they do now.  They just wouldn't have to deal with the bookkeeping (except for capital gains and inheritance tax).  The tax form for individuals would be very simple.

1.  Amount of sale     xxx.xx
2.  Cost of sale          yyy.yy
3.  Gain                  xxx.xx - yyy.yy
4.  Multiply gain by .25  == tax due.

5. Enter value of inheritance over $5 million.
6. Multiply by .5  == tax due.

7. Add 4 + 6.  Send it.

Simple.

Define "cost of sale" please.  Does it include advertising, salaries, worker benefits, cost of having a place to do business.....   Simple concept.  No so simple in the details.  I am thinking of a 2 or 3 employee type of person doing business. 

[heironymouspasparagus]

Of course those corporations will gladly absorb the additional taxes without increasing sales prices. Well, maybe not.  The increased prices won't hurt people presently paying income tax since they will have more spendable money approximately equal to the income tax they are now paying.  People not presently paying income tax will now be paying tax through increased product prices.  We all know that some notable corporations get some big tax breaks but the official rate is already 35%.  If you eliminate the personal income tax you will need to move it to the corporate rate.  I think that even closing loopholes, your 36% will be too low for present spending levels.

Define "cost of sale" please.  Does it include advertising, salaries, worker benefits, cost of having a place to do business.....   Simple concept.  No so simple in the details.  I am thinking of a 2 or 3 employee type of person doing business.  

May be too low.  Whatever the rates are, we have chosen as a society to fund massive military excursions as well as research into frog breeding, and everything else.  (Frog breeding research is WAY more valuable than the other.)


Cost of sale;  buy stock, house, car, small furry animals, food for animals, new paint for house, etc.  
Price increases.  
Sell.  Difference between buy and sell.

Very complicated process.  As we see with the current tax system.  Huge mess.

[Red Arrow]

Cost of sale;  buy stock, house, car, small furry animals, food for animals, new paint for house, etc.  
Price increases.  
Sell.  Difference between buy and sell.
Very complicated process.  As we see with the current tax system.  Huge mess.

Buy house, immediately paint.  Increased cost?
Buy house, live in for 5 years. Paint.  Maintenance or increased cost?
Buy car.  Transmission craps out a)immediately b)after you drive 10,000 miles.  Put in rebuilt tranny of same type.  Increased cost or maintenance?

I have opinions on the above but don't know the tax law on them.  I don't remember ever selling anything for a profit.  I am not a wheeler dealer.  When I am done with my stuff, it too is done.

[Teatownclown]

Carolla, round II.

http://hotair.com/archives/2011/12/01/adam-carollas-r-rated-but-right-on-rant/

And please, refute this video.

Had to stop at 3 1/2 minute mark because the lies started to compound...but early on it was good....

"People who really have so much money lose how serious a game this is to people who are slipping below the poverty line and whose children's futures are beginning to evaporate." Jackson Browne

[guido911]

Had to stop at 3 1/2 minute mark because the lies started to compound...but early on it was good....

"People who really have so much money lose how serious a game this is to people who are slipping below the poverty line and whose children's futures are beginning to evaporate." Jackson Browne

Jackson Browne hasn't been relevant since the 1980s.

[Conan71]

Jackson Browne hasn't been relevant since the 1980s.

Poor guy looks like Joan Rivers gave him a gift card to her plastic surgeon's office.

[guido911]

Poor guy looks like Joan Rivers gave him a gift card to her plastic surgeon's office.

[Conan71]

Saw a newsreel with him on Olberdoosh's show the other day, he's had some botox since then and a lift around the eyes, or at least it appeared so.  Brings a whole new meaning to "Doctor my eyes..."

[guido911]

Saw a newsreel with him on Olberdoosh's show the other day, he's had some botox since then and a lift around the eyes, or at least it appeared so.  Brings a whole new meaning to "Doctor my eyes..."

You know you have officially reached rock bottom on the relevance chart if all you have left is Olberdoosh. Speaking of least influential, his old butt buddy Ed Schultz made No. 3. Here's Beck mocking Ed's justification.

[Red Arrow]

Saw a newsreel with him on Olberdoosh's show the other day, he's had some botox since then and a lift around the eyes, or at least it appeared so.  Brings a whole new meaning to "Doctor my eyes..."

Doctor now being a verb rather than a noun.

I hate verbification.

[nathanm]

Wow. Ally/GMAC has apparently decided that they are incapable of legally originating and securitizing mortgages in Massachusetts going forward, so they've stopped writing mortgage business there after the AG sued them for their past inability to do things on the up and up.

[nathanm]

And in more directly OWS-related "news" (more like recent history):

http://www.aljazeera.com/indepth/opinion/2011/11/2011112872835904508.html

[guido911]

Some L.A. pee partiers are apparently so traumatized by their arrest and/or eviction that they may seek therapy. Wow, what tough, bad@ss revolutionaries these people turned out to be.

http://latimesblogs.latimes.com/lanow/2011/12/some-occupy-la-arrestees-feel-traumatized-might-need-therapy.html