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Post by aztec70 on Apr 22, 2011 15:39:43 GMT -8
LOL My client is neither stupid nor lazy. No one in his peer group does their own taxes. Their time is too valuable. I can't imagine that is the case for you. Besides, he does not pay for it himself. My fee is an executive benefit for him. His employer knows his time is too valuable to use preparing his own return.  That may be close to true, but avoids the issue. I also have to wonder why a man so important and successful would have his tax status put in jeopardy by having that function handled by a person obviously much less capable than himself. I think I would consider doing it myself for peace of mind.  LOL |
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Post by AztecBill on Apr 26, 2011 14:41:21 GMT -8
You are right. I misread your post. You are talking about raising the marginal tax rates on those earning over 100K by 14%. That would be a very bad thing for the economy and would probably reduce economic activity enough to actually have a negative effect on the income to the government. Not only is it a 14% tax but it is a 14% tax that can not be reduced by deductions. Bad idea that wouldn't work. Absolute killer for small business. Why would you be for having the "rich" pay more but not for having the "rich" get less? Don't worry, Bill. The tax increase will just be built into the cost of doing business. ;D To be more serious, you will note that I call for a three pronged approach. Tax increases were only one part. Absulute killer for small business? Twaddle. Most small businesses would not even be effected. Yes, we pass it on as a cost of doing business but other countries don't. That is a huge sledge hammer you hold over corporations heads telling them it will hit them if they don't hire foreigners to do the work of tax paying Americans. I find it amazing how many people think raising tax rates will automatically lead to raised revenues. The job loses, economy lessening, and changes in peoples behavior will offset gains that you expect from that change. |
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Post by aztec70 on Apr 26, 2011 15:46:18 GMT -8
Don't worry, Bill. The tax increase will just be built into the cost of doing business. ;D To be more serious, you will note that I call for a three pronged approach. Tax increases were only one part. Absulute killer for small business? Twaddle. Most small businesses would not even be effected. Yes, we pass it on as a cost of doing business but other countries don't. That is a huge sledge hammer you hold over corporations heads telling them it will hit them if they don't hire foreigners to do the work of tax paying Americans. I find it amazing how many people think raising tax rates will automatically lead to raised revenues. The job loses, economy lessening, and changes in peoples behavior will offset gains that you expect from that change. I am talking about reforming Social Security. What are you talking about? |
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Post by AztecBill on Apr 27, 2011 11:32:04 GMT -8
Yes, we pass it on as a cost of doing business but other countries don't. That is a huge sledge hammer you hold over corporations heads telling them it will hit them if they don't hire foreigners to do the work of tax paying Americans. I find it amazing how many people think raising tax rates will automatically lead to raised revenues. The job loses, economy lessening, and changes in peoples behavior will offset gains that you expect from that change. I am talking about reforming Social Security. What are you talking about? I am talking about your proposed tax increase and its consequences. Just read what I quoted and you will see what I am talking about. |
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Post by aztec70 on Apr 27, 2011 12:10:56 GMT -8
I am talking about reforming Social Security. What are you talking about? I am talking about your proposed tax increase and its consequences. Just read what I quoted and you will see what I am talking about. You complaint seems to be that our country pays for old age pensions though a tax on earned income and other countrys don't. Is that what you are saying? |
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Post by AztecBill on Apr 27, 2011 12:33:57 GMT -8
I am talking about your proposed tax increase and its consequences. Just read what I quoted and you will see what I am talking about. You complaint seems to be that our country pays for old age pensions though a tax on earned income and other countrys don't. Is that what you are saying? I am talking about the effects of the tax increase you propose. You stated companies can just pass the increases along. That is naive about how the free market works. |
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Post by aztec70 on Apr 27, 2011 15:34:38 GMT -8
You complaint seems to be that our country pays for old age pensions though a tax on earned income and other countrys don't. Is that what you are saying? I am talking about the effects of the tax increase you propose. You stated companies can just pass the increases along. That is naive about how the free market works. You missed the big grin ;D after that sentence?  Those things are called emoticons. I think you can look them up on the intertubes. 
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Post by AztecBill on May 24, 2011 13:07:36 GMT -8
I am talking about the effects of the tax increase you propose. You stated companies can just pass the increases along. That is naive about how the free market works. You missed the big grin ;D after that sentence? Those things are called emoticons. I think you can look them up on the intertubes. So in other words, you have no response other than a joke about the negative effects of a 14% payroll tax increase on small business that you propose? You think the government can just raise taxes to any level it likes and the money will flow in proportional to the increase? What if the city charged $40 an hour in their parking meters? Would that fix all the city's money problems? |
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Post by aztec70 on May 24, 2011 13:52:41 GMT -8
You missed the big grin ;D after that sentence? Those things are called emoticons. I think you can look them up on the intertubes. So in other words, you have no response other than a joke about the negative effects of a 14% payroll tax increase on small business that you propose? You think the government can just raise taxes to any level it likes and the money will flow in proportional to the increase? What if the city charged $40 an hour in their parking meters? Would that fix all the city's money problems? Been out of town, Bill? Rather a late response, don't you think? Now let me explain the joke to you, Bill. Whenever I bring up corporate income tax, conservatives tell me that corporations don't pay taxes their custumers pay it. The corporations just pass it down the line. I think it would be fun to say the same this about this tax. I wanted to see if conservatives would say that businesses don't pay taxes, their custumers do. It was sort of a troll. Your response is classic. Thanks. (Insert smiley here.) Bill, how about getting back on topic? |
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Post by AztecBill on May 24, 2011 15:07:59 GMT -8
So in other words, you have no response other than a joke about the negative effects of a 14% payroll tax increase on small business that you propose? You think the government can just raise taxes to any level it likes and the money will flow in proportional to the increase? What if the city charged $40 an hour in their parking meters? Would that fix all the city's money problems? Been out of town, Bill? Rather a late response, don't you think? Now let me explain the joke to you, Bill. Whenever I bring up corporate income tax, conservatives tell me that corporations don't pay taxes their customers pay it. The corporations just pass it down the line. I think it would be fun to say the same this about this tax. I wanted to see if conservatives would say that businesses don't pay taxes, their customers do. It was sort of a troll. Your response is classic. Thanks. (Insert smiley here.) Bill, how about getting back on topic? Corporations pass it down the line except for one problem that they can not overcome. That problem is the free market. You can't pass costs along that customers are not willing to pay. When that is the case the corporations can only: 1. Absorb the costs. 2. Cut other costs (cut payroll, outsource, offshore) 3. Go out of business. When we say they pass along the costs, we mean to their customers, employees, or investors. One of those absorb the costs. If the customers can and will absorb the costs is the only time the increase in taxes guarantees a return to the government. When the other two must absorb the extra costs the government often gets less money even though the rates are higher and the overall economy suffers.
Back on topic. Fixing SS by raising taxes is stupid and won't work. |
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Post by aztec70 on May 24, 2011 17:40:31 GMT -8
I'll get back to you the end of next month.
;D
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Those things are called emoticons. 