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My ideal for helping the economy........What do You think.

Discussion in 'The Lounge' started by Corey 78K5, Jul 25, 2006.

  1. Corey 78K5

    Corey 78K5 1 ton status

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    So Me and a couple guy's a work were discussing the economy today and I had a ideal hit Me. No tax on anything over 40 hours a week. Would be good for employers, less they would have to pay in to state funds. Would be great for the work force. Most of all good for the government cause more people would spend more and they would make a killing on sales tax.
     
  2. Cricket

    Cricket 3/4 ton status

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    I think you should send me your paycheck for safe keeping.
     
  3. Corey 78K5

    Corey 78K5 1 ton status

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    Also it would help those who actually help drive the economy.
     
  4. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    not a bad idea. If you really want the economy to boom though, lower the capital gains tax and eliminate it completely on any kind of retirement investment. Now that would get some $ into the market. :thumb:

    j
     
  5. Corey 78K5

    Corey 78K5 1 ton status

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    Pry it from MY Wifes cold steely hands:D
     
  6. mikey_d05

    mikey_d05 1 ton status GMOTM Winner

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    I wish, that'd give my paycheck a significant bump each week. Nice idea though.
     
  7. hack500

    hack500 1/2 ton status

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    what about salaried employees?

    did you actually mean 'idea'?


    i·de·a (-d)
    n.
    1. Something, such as a thought or conception, that potentially or actually exists in the mind as a product of mental activity.
    2. An opinion, conviction, or principle: has some strange political ideas.
    3. A plan, scheme, or method.
    4. The gist of a specific situation; significance: The idea is to finish the project under budget.
    5. A notion; a fancy.
    6. Music A theme or motif.
    7. Philosophy
    a. In the philosophy of Plato, an archetype of which a corresponding being in phenomenal reality is an imperfect replica.
    b. In the philosophy of Kant, a concept of reason that is transcendent but nonempirical.
    c. In the philosophy of Hegel, absolute truth; the complete and ultimate product of reason.
    8. Obsolete A mental image of something remembered.

    or was is really supposed to be 'ideal'?

    i·de·al (-dl, -dl)
    n.
    1. A conception of something in its absolute perfection.
    2. One that is regarded as a standard or model of perfection or excellence.
    3. An ultimate object of endeavor; a goal.
    4. An honorable or worthy principle or aim.
    adj.
    1.
    a. Of, relating to, or embodying an ideal.
    b. Conforming to an ultimate form or standard of perfection or excellence.
    2. Considered the best of its kind.
    3. Completely or highly satisfactory: The location of the new house is ideal.
    4.
    a. Existing only in the mind; imaginary.
    b. Lacking practicality or the possibility of realization.
    5. Of, relating to, or consisting of ideas or mental images.
    6. Philosophy
    a. Existing as an archetype or pattern, especially as a Platonic idea or perception.
    b. Of or relating to idealism.
     
  8. 4by4bygod

    4by4bygod 1/2 ton status

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    I'd like to see all state and federal estate taxes be repealed, as well as all taxes on any investment income also eliminated..

    the mony was already taxed once when it was made, anything else amounts to double taxation.


    for that matter, let's just eliminate the IRS, and go to a 10% flat tax on w2 & self employment income.

    If the IRS isn't willing to do that, they ought to at least eliminate witholding, so everyone has to write their own checks to the gov't.. maybe then some eyes will be opened, and people will figure out they've been screwing themselves letting the gov't give them a 'refund' every year.. people can fund their own retirement too, while they're at it, and we can put social security to sleep once and for all.

    Tom
     
  9. 78Suburban

    78Suburban 1/2 ton status

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    the less taxes we have, and the less socail programs, the better. We are currently headed closer and closer to communism, that's why I'm beginning to lean more and more libertarian on economic issues. I know it'll be pissing my vote away, but some presedential election, I may vote libertarian, just for the principle of the matter :p:
     
  10. neverendingproject

    neverendingproject 1/2 ton status

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    Families would go down the drain as everyone would be working overtime.
     
  11. 89GMCSuburban

    89GMCSuburban 1/2 ton status

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    That's why I vote republican....they're for less government than the democraps and, unlike the libertarians, have a chance at winning...and that definitely matters in a close race.
     
  12. Avery4jc

    Avery4jc 1 ton status Premium Member GMOTM Winner

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    BINGO! My dad was telling me about an article he had read that said if rich people quit finding ways to move their money around and middle/lower class all paid too that a flat tax rate for everyone would not only improve the current standings but would take care of the nations debt in a matter of years. Simple but effective.

    -Avery
     
  13. Corey 78K5

    Corey 78K5 1 ton status

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    STFU nOOb:rolleyes:
     
  14. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    Rich people already pay almost all of the tax burden... in spite of "moving their money around". Problem with trying to steal all the $ away from a rich guy is that he gets richer by investing in our economy (not like Bill Clinton talked about in campaign speeches, but REAL investing). Rich guy doing that does a tremendous amount of good for the rest of us. If you tax him to much, he will simply invest less, which is bad. If you go England on his ass and charge the guy 90% interest.. then he just moves to a different country and renounces his UK citizenship etc.

    Rich people have the capability to either a) grow your economy or b) leave your economy for greener pastures. The later is devestating to an economy (good for where ever he moves though!). Upper middle class guy doesn't have quite so many options. Picking up and moving to Singapore probably isn't going to happen... so those are the people that the government really likes to sink their teeth into.

    j

    ps: I wonder how much money the author of the Harry Potter books has made for the government. Their top rate is something like 90%... so if shes a billionaire in spite of all those taxes... yikes!
     
  15. 78Suburban

    78Suburban 1/2 ton status

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    wow, the top tax bracket is 90% in the UK!!! I'm gonna venture to say that's even worse than communism.. :doah:
     
  16. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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    hmmm.. it seems my figures are out of date. It was the late 70s when the UK had an 83% top rate. I was reading one web site that said that the top now is at 40%.... where is that guy from Surrey when we need him! I'd like to know what the rate is now.

    j
     
  17. jekbrown

    jekbrown I am CK5 Premium Member GMOTM Winner Author

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  18. ryan22re

    ryan22re 1/2 ton status

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    That is if you get over time. I have to get my overtime approved by a manager, sometimes several days in advance. I know some guys that work for International Trucks in Chicago that on a regular basis work 20-40 hours of overtime a week. They would make a killing. But what about the guys that can't get overtime?
     
  19. Skigirl

    Skigirl 1/2 ton status

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    How about no tax on income at all? Tax spending, not income. Then people will produce more and save more.
     
  20. jekquistk5

    jekquistk5 Weld nekid Premium Member GMOTM Winner

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    Def a good idea to bad even though a lot of Americans would love this, and it would solve a lot of immigration problems, it would never pass in the house or the senate.

    What ever happened to Democracy
     

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