Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

I would like discussion on taxes

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU
 
OxQQme Donating Member (694 posts) Send PM | Profile | Ignore Tue Feb-01-05 07:41 PM
Original message
I would like discussion on taxes
From what I understand, there is a 'pool' of money that arrives somewhere after being collected by the IRS that is used by the various governmental departments.
This pool is predominatly collected from the labors of individuals and samll businesses in the form of income tax.
Federal employees and elected representatives are paid out of this fund.

Now what I don't understand is that it seems that the people in the 'private' sector are paying into that pool twice. Once for their own 'obligation' and again when the 'public' sector employee pays the tax on their obligation which came out of the common pool to begin with.

Help me out here please. Is this accurate?
Printer Friendly | Permalink |  | Top
papau Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Feb-01-05 08:07 PM
Response to Original message
1. no - the payroll tax is the other income tax only a little smaller than
Edited on Tue Feb-01-05 08:09 PM by papau
FIT (see IRS.GOV)

There are other taxes that collect fairly large amounts

and with Bush our grandkids pay for todays expenses as he cuts taxes for the rich - leaving us with too little FIT TO PAY TODAY'S BILLS - and forcing us to borrow from the capital markets via bonds - those bonds just being promises to raise taxes on our grandkids. You might say Bush is increasing the birth tax.

As to paying folks who then pay taxes, every dollar spent in the economy is re-spent by the fellow that recieves it. Indeed their are studies in economics that show the worse kind of spending for general economic growth and happiness is the money spent on bombs. You really can not resell a used bomb.

In any case, as that dollar is re-spent it is also retaxed.

various folks will earn an income on it and pay an income tax. Items will be bought and a sales tax will be paid.

Your very simplified example of spending money on a government service, with those that provide that service paying a income tax on the income they get from our spending money on a government service, is true for a government service provided by a person - or a government service provided by a corporation.

So the count of how many times "your dollar" is taxed is cute - but meaningless!
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed May 01st 2024, 04:02 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC