The Fed Shutdown Poll and Megathread

[DontSayBanana]

A nation that keeps '58 Studebakers and Edsels running is doing something right.  How many of them do you see on America's highways?
I rest my case.

Well, there seem to be quite a few Studebakers hanging around Bridgeto- OH RIGHT.

[Tonitrus]

Well http://www.youtube.com/watch?v=661pi6K-8WQ this is a graphic illustration how this is of course utter nonsense.

Amusing. But we already know this. Also, his halting speech is annoying.

That "we" apparently doesn't include CdM. Or the Obamateur.

Being that Captain Kirk is a CdM hero, of course not.

[KRonn]

Needs more Bill Clinton.





Actually, let's just pass his 2000 budget again. Who needs homeland security anyway.

After seeing that 6 year old girl getting a TSA patdown, might as well. This country is fucked.

I saw that; it was absolutely ridiculous!

[dps]

I think CdM has amply demonstrated now why is is such a fan of Fidel Castro.  That approach has worked wonders for Cuba, after all. 

A nation that keeps '58 Studebakers and Edsels running is doing something right.  How many of them do you see on America's highways?
I rest my case.

If we had no choice but to keep '58 Edsels and Studebakers running, I'd say we were really fucked up.

[DGuller]

   Studebakers from 1950ies go for $50k+ on average in the auctions.  I'd say the Cubans are doing very well if that's all everyone is driving.

[dps]

  Studebakers from 1950ies go for $50k+ on average in the auctions.  I'd say the Cubans are doing very well if that's all everyone is driving.

That's 'cause all we have are those that someone has chosen to preserve. 

[MadImmortalMan]

Well I did my part for the cause today. Finished my tax return and paid the feds a bit over six grand. 

[DGuller]

Oh, shit.

[ulmont]

Oh, shit.

You have until Monday.

[Sheilbh]

Would the impact of simply canceling all deductions be significant enough?

Bigger than eliminating Medicare. 

On tax I agree with Hans.  Get rid of most deductions and get a low, broad income tax system for individuals and companies.  Of course I'd then try and align it with capital gains, establish a VAT and a carbon tax.

[KRonn]

Would the impact of simply canceling all deductions be significant enough?

Bigger than eliminating Medicare. 

On tax I agree with Hans.  Get rid of most deductions and get a low, broad income tax system for individuals and companies.  Of course I'd then try and align it with capital gains, establish a VAT and a carbon tax.

Fortunately it seems both parties and the President are at least adressing that. For instance, cutting out some of the tax loopholes for corps but lowering the tax rate. It was kind of a scandalous news item  GE made billions last year but paid no taxes; but not GE's fault. They just followed the tax code and took advantage of the Byzantine stuff there. At least the politicians paying lip service - who knows if they'll do even much of a limited change.

[Neil]

Carbon taxes are inherently immoral.

[Fate]

Is a gasoline tax inherently immoral too?

[Neil]

Is a gasoline tax inherently immoral too?

No, because it is used for good things, like building roads.  Carbon taxes are used to attempt to curb progress.

[mosschops]

The problem is that we currently have an extremely progressive tax system which will always lead to wild swings in revenue.  We need a broader, lower tax base instead of the high marginal rate tax system we have now, which would ensure a more stable tax income than the current feast or famine system.  Curiously, changes in income tax rates over the last few decades have had almost no impact on federal revenue on the aggregate, except for the increasingly wild swings in revenue during the economic cycle.

Extremely progressive?  You have got to be kidding.  Think of all the taxes people pay:  income tax, SS/Medicare, investment income, sales taxes, or property taxes.  Not all of those are federal taxes, but at the end of the day those taxes have to be paid.  Only the income tax is progressive of the bunch.  The rest are flat or regressive.  The totality of them is hardly "extremely progressive".  Think before you plagiarize some groupthink tank talking point.

If you look at only federal income tax I guess.

Nope, all taxes including Social Security.


The top quintile pays %52.8 of all taxes, the bottom quintile a whopping %2.6.

http://en.wikipedia.org/wiki/Progressivity_in_United_States_income_tax


That the rich are somehow not paying their fair share of taxes is pure democrat demagoguery.

The top 1% get almost 25% of the income in the US, if you expand that to the top quintile then that increases massively as well. You need to look at that to get a concept of a "fair share" rather than the tax take.