Yes, we can.

[Morrigoon]

If he was smart he'd use his annual gifting allowance to pay into a permanent life insurance policy. They wouldn't be taxed on that. Hold the insurance under a trust and name the kids as the beneficiaries.

[innerSpaceman]

well, of course there are tons of ways for rich individuals and wealthy entities to avoid taxes.

But those hoops shouldn't have to be jumped thru. Of course, then, the economy of accountants, tax advisors and attorneys would suffer. So everything remains in place to grease the wheels of greasing the palms.

[scaeagles]

The man isn't stupid. He's a tax lawyer. Like ISM said, it's just wrong that he has to even consider those things.

[Ghoulish Delight]

I definitely won't argue re: inheritance tax (although I would point out that the more money you have the easier it is to shelter it from the inheritance tax as you can actually afford things like permanent life insurance and creating trusts).

[scaeagles]

Exactly, GD. This is another huge problem - the fact is that the wealthier you are the easier it is to pay less taxes. I'm all for closing loopholes. When Perot ran in 1992, I think it was revealed that his overall tax rate was something ridiculous around 6%. That is wrong. I will admit that I do like what Obama has said about off shore tax shelters.

I suppose the buggest problem I have with taxation - understanding fully that taxation is a necessary evil - is that it is always put into terms of "what will this cost the government" or "how will we replace the money lost in taxes". I have an idea - stop spending so much. It is never put in terms of "what will this cost the taxpayer" or "how will the taxpayer replace the money in increased taxation".

Consumers are expected to spend less when they have a reduction in income. I see no problem with the same expectation of the government. Everyone is amazed at the wasteful spending of the government and earmarks and whatever else. Public schools being built in the Phoenix area are simply palacial. Weight rooms that would embarrass small Universities. Two or sometimes even three gymasiums. The excesses are immense.

How is it even possible to look at a 3 TRILLION dollar budget that was just submitted and think it isn't enough? It's sickening, and GWB has completely dropped the ball in the area of controlling spending. I see Obama and Clinton propose even more - not that Republicans don't - and worry about that number going up and up and up. Sadly, it most likely will continue at an exponential rate no matter who is elected and no matter who controls congress.

REVOLUTION!!!!!!!!!!

[sleepyjeff]

Originally Posted by €uroMeinke

I don't see why there needs to be taxes at all, the government can just print more dollars and we all win

Exactly.....the reduced value of our dollar would in essence be our "tax". Simple, no forms to fill out and no way for the rich to avoid paying taxes

[Moonliner]

Originally Posted by scaeagles

Exactly, GD. This is another huge problem - the fact is that the wealthier you are the easier it is to pay less taxes. I'm all for closing loopholes. When Perot ran in 1992, I think it was revealed that his overall tax rate was something ridiculous around 6%. That is wrong. I will admit that I do like what Obama has said about off shore tax shelters.

I suppose the buggest problem I have with taxation - understanding fully that taxation is a necessary evil - is that it is always put into terms of "what will this cost the government" or "how will we replace the money lost in taxes". I have an idea - stop spending so much. It is never put in terms of "what will this cost the taxpayer" or "how will the taxpayer replace the money in increased taxation".

Consumers are expected to spend less when they have a reduction in income. I see no problem with the same expectation of the government. Everyone is amazed at the wasteful spending of the government and earmarks and whatever else. Public schools being built in the Phoenix area are simply palacial. Weight rooms that would embarrass small Universities. Two or sometimes even three gymasiums. The excesses are immense.

How is it even possible to look at a 3 TRILLION dollar budget that was just submitted and think it isn't enough? It's sickening, and GWB has completely dropped the ball in the area of controlling spending. I see Obama and Clinton propose even more - not that Republicans don't - and worry about that number going up and up and up. Sadly, it most likely will continue at an exponential rate no matter who is elected and no matter who controls congress.

REVOLUTION!!!!!!!!!!

And that's just the Feds. Now you need to add in all 50 State budgets. The excesses you mention primarily come from state budgets/taxes.

[Scrooge McSam]

Originally Posted by scaeagles

I have an idea - stop spending so much.

Visible mojo for Leo

[lashbear]

Originally Posted by scaeagles

Consumers are expected to spend less when they have a reduction in income. I see no problem with the same expectation of the government. Everyone is amazed at the wasteful spending of the government and earmarks and whatever else.

Just so you know, our newly elected Prime Minister has frozen all parliamentary incomes for a year, much to the horror of all his party and the opposition.

He's walking the talk. I love it.

[dlrp_bopazot]

hey hey i'm not complaining about the value of the Dollar because i enjoy being here and spending my High Value Euros .

But true when it is the reverse and you go to Europe Spend your Dollars . hum hum i understand .

Hey you guys have a very cheap Gas Compare to ours . Think about it we pay hum hum $10 a gallon compare to $2,9 here in Central Florida .

I dont have any preferences for any politician but i hope it ll reduce your gas prices and increase the minimum wage .