tag:blogger.com,1999:blog-1522121129844880066.post3915885144122616266..comments2023-10-24T11:23:31.580-04:00Comments on Le·gal In·sur·rec·tion: 100% Plus Taxation Key To Permanent Dem MajorityWilliam A. Jacobsonhttp://www.blogger.com/profile/16433685588536441422noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1522121129844880066.post-73939600368586365902009-11-12T00:26:22.952-05:002009-11-12T00:26:22.952-05:00Great post. Will fit in nicely with some ideas I&#...Great post. Will fit in nicely with some ideas I'm working on. Thanks.RightKlikhttps://www.blogger.com/profile/04475874038428195332noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-21766335251132416122009-11-11T22:05:20.501-05:002009-11-11T22:05:20.501-05:00@Kimberly - No I don't think it is necessary t...@Kimberly - No I don't think it is necessary to break out the data by age group. The thesis is that the implicit marginal rate is a deterrent to working to earn extra dollars, which presumes a working age population. And I would be curious to see the source for your assertion that "the largest segment of low income houses is with retirees," not that it matters to the analysis.William A. Jacobsonhttps://www.blogger.com/profile/16433685588536441422noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-40368868499118423102009-11-11T18:20:09.922-05:002009-11-11T18:20:09.922-05:00I don't think it matters much. The federal bu...I don't think it matters much. The federal budget deficits will be structural if this goes through. They'll try to tax us to death to try to close the gap, but that will only drive more small businesses out of business, creating more job losses, and drive tax revenues down in a death spiral. <br /><br />As foreigners lose confidence in the U.S., the dollar will continue to collapse. Eventually investors are going to start demanding much higher interest rates to lend to the government, which will push market based interest rates up, which will cause another wave of business failures and layoffs. With the tax base continuing to shrink, and interest rates rising, evenutally the burden of making interest payments and honoring entitlements will be too much. Eventually, the government will default on the debt. <br /><br />Far left radical and multi-billionaire George Soros is on record saying the system has already failed, we just refuse to acknowledge it. He is reportedly massively shorting the dollar in anticipation of the ultimate collapse. We learned recently he has made at least 4 visits to the White House in 10 short months. I wonder what they're talking about?<br /><br />The powers that be will be able to hold it all together for a while. But this massive out of control government borrowing and spending practically guarantees it all comes unglued sometime in the future. I don't see a way out. They've dug the hole and they just keep digging it deeper. And because U.S. government debt is so widely distributed around the world, when the U.S. government defaults, the entire global system will come down. The only question is when it will happen, and what the New World Order George Soros is planning with the global elites will look like.<br /><br />Enjoy your socialist utopia, and your health insurance, while it lasts.MaggotAtBroad&Wallhttps://www.blogger.com/profile/04493406951892285654noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-8872400242854551712009-11-11T15:55:22.824-05:002009-11-11T15:55:22.824-05:00Important post, Professor. I think the big and la...Important post, Professor. I think the big and largely hidden component of this is cash payment through the underground economy. When a landscaper hires Mexican day laborers, there is a lot of cash under the table. Ditto domestic workers -- i.e., the nannies and housekeepers whose wages are rarely reported. And what waiter or other tip-earner isn't savvy enough to report just enough income to satisfy the IRS but not enough to lose generous benefits.<br /><br />The health care costs proposed on most small business clearly will encourage more of this, as well as more use of independent contractors. As it is, advertising, PR, accounting and other kinds of professional firms rely heavily on such outsourcing. All the more if they take on a responsibility to pay health insurance or a big fine.J. E. Burkehttps://www.blogger.com/profile/08682657792334163396noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-20056014239628884712009-11-11T11:39:57.769-05:002009-11-11T11:39:57.769-05:00I am seeing more small businesses in my area activ...I am seeing more small businesses in my area actively avoid taxes through cash payments. No taxes for the state, no federal taxes paid. The other strategy many have taken is to pay consults and temporary help in cash. Again, no taxes for either individual. Plan on seeing much more of that in the years to come.<br /><br />My wife grew up in the now-defunct USSR. She and our Russian friends tell me that this kind of active circumventing of intrusive (and outrageous) government policy was (and is) typical in Russia. When a government oppresses its people it looses the critical legitimacy needed to operate.Unknownhttps://www.blogger.com/profile/17811151015927634363noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-57832706453839347592009-11-11T11:21:34.590-05:002009-11-11T11:21:34.590-05:00A war for freedom and liberty was sparked by "...A war for freedom and liberty was sparked by "taxation without representation." <br /><br />Now we are watching the flame being slowly extinguished by "representation without taxation."Sallyvenhttps://www.blogger.com/profile/09907616488562792531noreply@blogger.comtag:blogger.com,1999:blog-1522121129844880066.post-8542650861905230672009-11-11T09:12:38.022-05:002009-11-11T09:12:38.022-05:00Thank you for technically explaining what we all f...Thank you for technically explaining what we all feel intuitively is true!Lori Carlsonhttps://www.blogger.com/profile/16685933371918095701noreply@blogger.com