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An Indian (as born & raised in India) friend of mine once told me that...
his father taught him this lesson from the very beginning, "Of every three dollars you earn, give one for taxes, save one for the future, and live on one." This friend is now a successful small business owner in America and a multi-milionaire.
Most of us Americans, when we earn one dollar, borrow two, and spend three. With this kind of thinking there is no chance of ever becoming debt-free. Fundamental change in our thinking, saving & spending habits is absolutely essential at every economic / social level. This land still gives everyone plenty of opportunities, but we must stop the ridiculous blame games, and pull ourselves up by the boot-straps from individuals to businesses to governments all alike.
posted by
ash_pradhan
on September 20, 2009 at 6:04 PM
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What's the difference...we're all paying our way to the grave anyway. In many cases it's our children that will pay long after our passing! But it doesn't matter, because a better place is waiting for us, right?
posted by
Ryan_Morrow
on September 20, 2009 at 2:45 PM
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So the poor are not affected by taxes?
When business are hit by increased taxes what do we do? We attempt to reduce expenses or we raise prices. The greatest expense of most businesses is payroll, so people are laid off.
To singularly raise prices will harm your sales. But...when huge tax increases are applied to every business.....the prices go up. So the poor end up paying more for their goods and services...or they do without. So there is an impact.
I'm not positive about this...but can you give me an example of a single time that cutting taxes did not increase revenue to a government entity? The problem comes with not applying the increased revenue to the expense end of government.
The problem comes with the crazed increases in spending that results from the increase revenues.
Both sides are very guilty of the drunkenness accompanying increased revenues......more money=more spending.
You could tax every millionaire 100% and would not come up with the money needed to meet projected losses......
posted by
Corbin_Dallas
on September 19, 2009 at 6:18 AM
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You're probably right, BC-A
And if that is what it takes, I'm in favor of it. I've been paying taxes for more than forty years as both a wage-earner and, for more than twenty years, as a small business owner. During that time I've paid a great deal of money for health insurance to cover medical expenses that most of the time I ended up having to pay out of my own pocket. We need healthcare reform and if the only way to get it is to pay higher taxes, I say, "so be it." Just because I've been screwed by insurance companies most of my life is no reason for me to wish it to continue happening for other people if paying higher taxes could prevent it.
posted by
notapoet
on September 18, 2009 at 10:34 PM
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I’m afraid that’d be the way for healthcare reform to succeed. I pay taxes on my income. BC-A, Bill’s Roost
posted by
BC-A
on September 18, 2009 at 9:38 PM
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