Gohmert proposes zero income taxes

Discussion in 'Politics' started by B_starinvestor, Nov 28, 2008.

  1. B_starinvestor

    B_starinvestor New Member

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    Louie Gohmert (R - Texas) is proposing zero income tax for a short period of time instead of committing another $350 billion to additional bailouts.

    The government currently collects approximately $200 billion per month in income taxes.

    Interesting idea. Those that actually pay income taxes may be excited about this.
     
  2. houtx48

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    just remember the last good idea a guy from texas had is what caused this financial drain in the first place.
     
  3. trentster

    trentster New Member

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    The main problem with that is they think that people are fiscally responsible. If people get the extra couple hundred a month, the chances of them spending it on consumer goods aren't that high. Most people would use it to pay bills, not go out and buy something. Only about 1 out of every 3 dollars would actually go to a company that sells something, and maybe 1 out of 10 to a company that needs a bailout. And since it is 200b a month that means only 20b goes to those companies. So it would have to go on for 18 months to offset the bailout. While that is going on, the government is taking out huge loans to pay for their services.
     
  4. HyperHulk

    HyperHulk New Member

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    I'm not sure how the proposal is a beneficial one, would you mind elaborating?

    From what I understand, the government intends on using the 350 billion to help companies become stronger again so they don't collapse and cause more people to lose jobs or bring down the economy further.

    So, this proposal takes away that money to help the businesses, while also removing 200 billion monthly from the government? When there is a trillion plus deficit and the war is costing billions a month until at least 2011.

    So what do people do with their extra money--they shop? pay mortgages?

    I'm confused.
     
  5. B_Nick4444

    B_Nick4444 New Member

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    those that rely on the government handout probably won't like the idea
     
  6. sparky11point5

    sparky11point5 New Member

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    Handouts, such as roads, schools, police, fire and other aspects of our socialist state ...
     
  7. D_Tintagel_Demondong

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    I don't understand how this will help the current problem. People won't be paying their income taxes until well into next year. Meanwhile the Big 3 can all go under and more S&Ls. This 'solution' makes no sense.

    How about the government issuing bonds, buying at least one of the big automaker and at least one of the banks.

    We have "crown corporations" in Canada. Some of our biggest companies are owned by the government. You know what? They are all profitable--even the airline! Try it, you might like it :wink:
     
  8. curious n str8

    curious n str8 New Member

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    Can you give names and how long your government has had control of them?
     
  9. B_starinvestor

    B_starinvestor New Member

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    Please indulge me here. Acorn headquarters were in Texas? The Clinton Admin, which created the free-for-all mortgage programs were domiciled in Texas?

    Houtx48. You don't know much about anything. Good luck coming up with something substantial.
     
  10. B_starinvestor

    B_starinvestor New Member

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    I don't think its a good idea. Its politics in extreme times at its worst. We are assimilating a debt that will transcend our grandchildren. It's woeful.
     
  11. TurkeyWithaSunburn

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    I pay income tax, I pay Soc Sec and Medicare taxes. Nearly half of the total taxes that are taken out of my paycheck goes for Soc. Sec. and Medicare taxes.

    I'm not excited about this....
     
  12. B_starinvestor

    B_starinvestor New Member

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    Its obvious that you are a troll that offers nothing but ignorant fragments of sentences. You have no knowledge in anything and are nothing more than an annoying cheerleader for the left wing.

    Introduce something of substance, and you may garner a response from somebody. Otherwise, go away. You offer nothing but ignorance. At least most liberals offer thoughts and research. You offer nothing. Sargon20 is repulsive but at least cites sources and backs up his foolishness with details.
     
  13. Zeuhl34

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    I'll take that over a troll who posts a seemingly endless amount of verbose non-policy-related semi-pseudo-political threads (i.e. Obama wasn't born in Hawaii) any day.



    *cough*1bigg1*cough*

    Starinvestor, at least you stick mostly to policy. I'm fine with your types of posts.
     
  14. uniqueusername

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    The difference between this and the "stimulus packages" Democrats propose is that this will benefit the middle class and rich people; the "stimulus package" will simply give money to the poor and lower middle class.

    Which group do you think is more likely to be fiscally responsible?

    If people are paying bills with the tax savings, it means that without the savings, they would NOT be paying bills. It would be worse for the economy if those bills went unpaid (remember, unpaid bills is what led to all of the home foreclosures).

    Finally, nothing says the government has to keep spending the same amount of money. Can't they just, you know, stop spending so much?
     
  15. Drifterwood

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    You would solve the problems if people with money were given a deal to prepay their future taxes.

    Might piss off a few financial sales people, but who gives a fuck about them.
     
  16. B_starinvestor

    B_starinvestor New Member

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    You might be on to something here.
     
  17. Drifterwood

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    Think about it. I can be sure that I will be paying tax. The Gov's need money. They raise it in the market, they pay a lot for it and when I say they pay, of course I mean we pay.

    In the meantime we might have interest bearing accounts. But what is the worth of them? Diddlysquat. After factoring back inflation and tax, you are losing money even though the banks are making their fortunes again on the back of it.

    So, fuck them. I'll use my cash to pay five year's tax for the price of four. That's a compound rate of about five percent and the gov can have free money, get out of the debt cycle and reduce my future tax burden. We can free ourselves of the money lenders.
     
  18. B_starinvestor

    B_starinvestor New Member

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    I would double down on that system. I like it, and the gov't - Euro or USA would gladly mortgage future tax dollars for today's balance sheet. Nice call, Drifter.
     
  19. Drifterwood

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    It's just a case of cutting out the middlemen which is always a good place to start in business.

    When the Gov raises money in the markets through bonds etc, all it is doing is mortgaging our future tax. Eventually it is like a credit card bill or other debt and the cost of servicing it is as much as your income. Rothschild probably has me marked by now, but their system is unsustainable unless you have constant growth, hence the shit we are in at the moment.
     
  20. uniqueusername

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    No, then all you'd be doing is loaning money to the government. People can already do this; it's called a Treasury Bond.
     
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