[phaster]

was just listening to this weeks pod cast of Jim Puplava

http://www.netcastdaily.com/broadcast/f ... 308-3a.mp3

and I have a question if anyone one else thinks some aspect of your respective tax system make NO FINANCIAL SENSE!

My pet peeve, is two fold, first involves taxing interest on savings. WTF is up with that? Here in the US with the subprime mess I think they should encourage savings in banks, instead the government taxes interest earned on savings, IMHO that is pretty dumb cause savings in banks could be used to lend to people in a local community. Just did my own taxes and I'm kinda P.O. that some money I put in a bank CD is being taxed...

My second pet peeve is I'm just kinda mad
that I get a $0.00 rebate, cause of my Adjusted Gross Income, exceeds what politicicans consider middle class

http://www.bankrate.com/brm/itax/news/t ... p?caret=2m

with the US national debt exceeding 9.4 trillion

http://zfacts.com/p/461.html

I think the financially prudent thing to do would be to pay down the debt, which IMHO is a better management decision!

So is the moral of the story, get a sub prime loan, live large and then claim to be bankrupt, so ya can get a tax refund?

What happened to the puritan savings ethic?

[steam_cannon]

I think the real question is, are there any aspects of the tax code that
make sense for people other then the top 1%?


http://www.pastpeak.com/archives/politics/index.htm

[Kingcoal]

Sounds like you're a "spending evader" and guilty of "willful failure to spend." I think they can put you in jail for that these days - watch out.

[Tyler_JC]

The first two posters, although they believe they are in agreement with each other, have actually contracted each other.

$this->bbcode_second_pass_quote('', 'M')y pet peeve, is two fold, first involves taxing interest on savings. WTF is up with that? Here in the US with the subprime mess I think they should encourage savings in banks, instead the government taxes interest earned on savings, IMHO that is pretty dumb cause savings in banks could be used to lend to people in a local community. Just did my own taxes and I'm kinda P.O. that some money I put in a bank CD is being taxed...

[Gandalf_the_White]

The part that really makes no sense is that what is done with our tax money is largely out of our control once the check leaves our mailbox. Some smart men once called it taxation without representation, I've heard it put more bluntly as plutocracy. In the service model of government we feel like as long as the bridges are'nt crumbling and the professional sports events keep coming and the malls have our favorite food court restaurants all is well. Many of us actually do. Few of us want to think that any portion of our taxes went to funding the trip of a CIA operative to Morocco who electrocuted and beat a man to death because someone who did not like him told the authorities he had links to Al Qaeda. We don't need to care as long as the beers keep coming and the Super Bowl goes off without a hitch. This is the year that Americans will start to wake up again, this is the year when they will finally start to question, and perhaps the only reason for it will be that a recession that will turn into a deep economic crisis is about to come to America. At the depth of the pain our enemies, who hate us cruelly and have strengthened their hatred with each cruise missile that drops on a non-combatant country will see that their time has come. If you are under 30 you will see in your lifetime the fall of the Union.

This is a public service announcement by your local mad prophet. Don't say you were'nt warned.

[Fishman]

with the US national debt exceeding 9.4 trillion is the key to the crash.
Oh boo hoo Gandalf! When the crash comes it will be the liberals whining the most, how can we fund all these entitlements, how can we provide for the rights of all the criminals in jail? Oh boo hoo how will our economy provide for the nanny state when Al quida pops a nuke or those nice put upon countries ...... don't get their aid from us?

[Gandalf_the_White]

$this->bbcode_second_pass_quote('Fishman', 'w')ith the US national debt exceeding 9.4 trillion is the key to the crash.
Oh boo hoo Gandalf! When the crash comes it will be the liberals whining the most, how can we fund all these entitlements, how can we provide for the rights of all the criminals in jail? Oh boo hoo how will our economy provide for the nanny state when Al quida pops a nuke or those nice put upon countries ...... don't get their aid from us?

[frankthetank]

Don't the "rich" then just donate millions to some stupid stadium (thats what is happening locally) and then they can just "write it off"???

The whole system is set up to implode... Give it some more time...

[Gandalf_the_White]

$this->bbcode_second_pass_quote('frankthetank', 'D')on't the "rich" then just donate millions to some stupid stadium (thats what is happening locally) and then they can just "write it off"???

The whole system is set up to implode... Give it some more time...

[Gandalf_the_White]

Double Post Deleted

[cube]

$this->bbcode_second_pass_quote('phaster', '.')..
My pet peeve, is two fold, first involves taxing interest on savings. ...

[dsula]

$this->bbcode_second_pass_quote('Gandalf_the_White', 'I')f it benefits the elite and their masters I don;t see what joe sixpack can do about it.

[vision-master]

$this->bbcode_second_pass_quote('', 'M')y second pet peeve is I'm just kinda mad
that I get a $0.00 rebate, cause of my Adjusted Gross Income, exceeds what politicicans consider middle class

[FoolYap]

$this->bbcode_second_pass_quote('phaster', 'M')y second pet peeve is I'm just kinda mad
that I get a $0.00 rebate, cause of my Adjusted Gross Income, exceeds what politicicans consider middle class

[MarkJames]

I won't be getting a rebate, but I benefit from borrow & spend rebates since some of our customers will use them to help with the expenses of service, equipment installations, heating oil, kerosene and propane. Many of my tenants will use the rebates to catch up on utility bills, cable bills, phone bills and to help offset increasing rents and overall real inflation.

Since low income people are generally undisciplined at saving and investing, much of their income eventually ends up in the hands of the wealthy.

[vision-master]

$this->bbcode_second_pass_quote('MarkJames', 'I') won't be getting a rebate, but I benefit from borrow & spend rebates since some of our customers will use them to help with the expenses of service, equipment installations, heating oil, kerosene and propane. Many of my tenants will use the rebates to catch up on utility bills, cable bills, phone bills and to help offset increasing rents and overall real inflation.

Since low income people are generally undisciplined at saving and investing, much of their income eventually ends up in the hands of the wealthy.

[MarkJames]

$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('MarkJames', 'I') won't be getting a rebate, but I benefit from borrow & spend rebates since some of our customers will use them to help with the expenses of service, equipment installations, heating oil, kerosene and propane. Many of my tenants will use the rebates to catch up on utility bills, cable bills, phone bills and to help offset increasing rents and overall real inflation.

Since low income people are generally undisciplined at saving and investing, much of their income eventually ends up in the hands of the wealthy.

[vision-master]

$this->bbcode_second_pass_quote('MarkJames', '')$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('MarkJames', 'I') won't be getting a rebate, but I benefit from borrow & spend rebates since some of our customers will use them to help with the expenses of service, equipment installations, heating oil, kerosene and propane. Many of my tenants will use the rebates to catch up on utility bills, cable bills, phone bills and to help offset increasing rents and overall real inflation.

Since low income people are generally undisciplined at saving and investing, much of their income eventually ends up in the hands of the wealthy.

[phaster]

$this->bbcode_second_pass_quote('Kingcoal', 'S')ounds like you're a "spending evader" and guilty of "willful failure to spend." I think they can put you in jail for that these days - watch out.

[Fishman]

phaster,
Your logic is perfect,

Paying down the debt would be the only way, but that's hard work, fewer entitlements, and hard decisions on individual's parts, won't happen until it's forced upon us