Corporate Banks and politicians believe Credit Unions shouldn't be tax-exempt

[God8010]

If the law was written in such a way as to make all loop-holes illegal then of course it would be true. Ideally, the tax code would be set and frozen in stone by a constitutional amendment, and could only be altered by a 75% majority vote of the House and Senate AND a 75% majority vote referendum of all citizens. Otherwise, it stays 12.5% forever. No increase. No decrease. No change - not for anything. Pass a balanced budget amendment at the same time that bans the Federal government from deficit spending and baseline budgeting, and throw any politician in JAIL for for using insider trading, or trying to give a tax break to a 'buddy'.

The system is corrupt not because there are businesses that want to gain an advantage. The system is corrupt because of politicians who abuse their power. Remove THAT corruption by making a system that the politicians cannot abuse, and the problem solves itself.

You're a match.

[Skarssen]

The main difference is that you don't have poor people paying disproportionately higher amounts of their income than wealthier people.

So, you do want a flat tax then? That ensures that everyone pays.....PROPORTIONATELY......the exact same amount of taxes. Of course the "privileged" would pay far more in absolute terms, so you should find that agreeable, no?

[Wells]

Oh Christ riddler its like you don't want the government to function

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So, you do want a flat tax then? That ensures that everyone pays.....PROPORTIONATELY......the exact same amount of taxes. Of course the "privileged" would pay far more in absolute terms, so you should find that agreeable, no?

12.5% of my income at 20k a year hurts me far far more than 12.5% of my income at 80m a year.

[Reeve]

So, you do want a flat tax then? That ensures that everyone pays.....PROPORTIONATELY......the exact same amount of taxes. Of course the "privileged" would pay far more in absolute terms, so you should find that agreeable, no?

A proportionate amount of their income. Not a proportionate amount of their disposable income. So yea 12.5% is 12.5% regardless of how much you make, but when you have negative $300 at the end of every month that's only covered by Section 8 Housing Assistance and SNAP programs, 12.5% is more than you have. When you're earning $200,000 per year, 12.5% is a drop in the bucket of your disposable income. That's extremely disproportionate.

So no, I don't support a flat tax. At all.

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Oh Christ riddler its like you don't want the government to function

A functioning government would be contrary to the basic philosophical premise that government is bad. Anything that you can do to make government function worse helps prove the idea that government is bad and should be done away with. It's a pretty effective strategy.

[Wells]

Honestly I think you either have to be born with a silver spoon in your mouth or not supporting yourself yet to actually think a flat tax is a good idea.

[Gheld]

Honestly I think you either have to be born with a silver spoon in your mouth or not supporting yourself yet to actually think a flat tax is a good idea.

I was neither born with a silver spoon, and I bust my ass off to provide myself with a middle class income and I support a flat tax.

Myth busted.

[Wells]

I was neither born with a silver spoon, and I bust my ass off to provide myself with a middle class income and I support a flat tax.

Myth busted.

That's embarrassing then that you have no excuse for thinking a flat tax on the poor is a good idea.

Ever been poor?

[AmilAsphoron]

I was neither born with a silver spoon, and I bust my ass off to provide myself with a middle class income and I support a flat tax.

Myth busted.

So, just to make sure, you believe people who don't make enough to support themselves, maybe through no fault of their own, should have money taken away from them rather than be supported by those taxes?

[Kujako]

So, just to make sure, you believe people who don't make enough to support themselves, maybe through no fault of their own, should have money taken away from them rather than be supported by those taxes?

No, I think he thinks that it is 100% their fault for not making enough. Poor people are just lazy.

[Wells]

So, just to make sure, you believe people who don't make enough to support themselves, maybe through no fault of their own, should have money taken away from them rather than be supported by those taxes?

Taxes aren't for helping people. They're for bombing foreigners.

[Skarssen]

Honestly I think you either have to be born with a silver spoon in your mouth or not supporting yourself yet to actually think a flat tax is a good idea.

- graduated high school
- took out student loans for 4 years of undergrad
- worked during undergrad
- went to graduate school for MS, took out more loans to pay for that
- joined the military with program that paid off undergraduate loans
- accepted into military program that continued to pay salary while getting PHD, in enchange for more military service
- paid off remaining student loans, and with high level special duty pay have been able to put aside a lot of income into investments

So, because I was smart and had self control and discipline my reward is sitting in the 35% tax bracket. I wasn't born with a silver spoon in my mouth and I support myself....and I completely agree with the concept of the flat tax. I think everyone should be treated equally, and part of that is having to pay for the bad decisions one makes in life.

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No, I think he thinks that it is 100% their fault for not making enough. Poor people are just lazy.

It isn't someones fault if they are born with lower than average intelligence. It is their fault if they continue to make poor decisions that keep them in poverty.

[skrump]

But they are NOT 'non-profit'. These credit unions are using their advantages to aggressively expand, advertise, purchase properties, and paying themselves handsomely. You're talking like every Credit Union is being run by George Bailey and running on fumes so as to give every penny back to its customers. That's simply not true. They're businesses that use their profits to expand, undercut, and push other options out of the marketplace - and they're subsidized by taxes. That's bogus, and Credit Unions that behave that way deserve to have TE status removed.

But I agree - ALL businesses should have ALL tax breaks and loopholes removed. Period. And replace the progressive tax with a 12.5% flat tax while we're at it and remove ALL tax loopholes for EVERYONE. And repeal withholding and make everyone write the check every week. And abolish SS, Medicare & Medicaid too.

Such A thing would never happen, due to the large percentage of tax evasion that would be going on, especially during times of recession.
I myself am for socialized medicare because it has a rather large potential to reduce the cost of Medical care simply because it wasn't designed to be profitable for those operating it (of course it does need to be profitable enough to maintain itself unlike current Medicare/medicaid

Though I would assume if the Government offers the cheaper insurance option they would undoubtedly put many of the privatized insurance companies with mediocre/overpriced coverage out of business



Personally I think the government just needs to take full control of Health insurance (not just medical) Everybody should be taxed without exemption for the coverage.
The tax should give access to government funded medical/dental/optometry for an amount not exceeding what the individual contributed as a taxpayer.
(yep personal government controlled savings accounts for everyone) thus social security and mandatory medical could be merged into a single tax.)

I like that idea because you cannot use more than what you contribute while also removing the age barrier on social security.
Lets face it I wont need social security if I die due to lack of medical treatment caused by a rotten tooth that needed to be surgically removed.

I mean don't get me wrong I don't trust the government but I trust banks and insurance companies even less.

[sizzlinsauce]

you understand we are 14trillion into debt? making 2 billion from taxing just the union banks means near nothing...
thats like saying you spend $1,400 a year and want to make an extra $2 a year.

seriously do the math. thats nothing compared to spending

[AmilAsphoron]

It isn't someones fault if they are born with lower than average intelligence. It is their fault if they continue to make poor decisions that keep them in poverty.

And how does one who has less than average intelligence make smart decisions? Also, how does a person with lower than average intelligence go about making more money?

[Wells]

you understand we are 14trillion into debt? making 2 billion from taxing just the union banks means near nothing...
thats like saying you spend $1,400 a year and want to make an extra $2 a year.

seriously do the math. thats nothing compared to spending

Debt and deficit aren't the same thing.

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And how does one who has less than average intelligence make smart decisions? Also, how does a person with lower than average intelligence go about making more money?

Its a stupid red herring anyway. He wants to make life harder for the poor for no reason.

You'll get almost no tax revenue and just take money from people who have almost none to begin with.

[Elegiac]

So, you do want a flat tax then? That ensures that everyone pays.....PROPORTIONATELY......the exact same amount of taxes. Of course the "privileged" would pay far more in absolute terms, so you should find that agreeable, no?

Poor people pay a much higher proportion of their income under a flat tax than the rich.

[Reeve]

Poor people pay a much higher proportion of their income under a flat tax than the rich.

Not exactly. Their income proportion is the same. Their income proportion after living expenses is what's significantly different, and unfair to the poor.

[Elegiac]

- graduated high school
- took out student loans for 4 years of undergrad
- worked during undergrad
- went to graduate school for MS, took out more loans to pay for that
- joined the military with program that paid off undergraduate loans
- accepted into military program that continued to pay salary while getting PHD, in enchange for more military service
- paid off remaining student loans, and with high level special duty pay have been able to put aside a lot of income into investments

So, because I was smart and had self control and discipline my reward is sitting in the 35% tax bracket. I wasn't born with a silver spoon in my mouth and I support myself....and I completely agree with the concept of the flat tax. I think everyone should be treated equally, and part of that is having to pay for the bad decisions one makes in life.

You're contradicting yourself; on the one hand, you say you want tax equality, on the other you say that you want poor people to pay for their bad decisions (implying that flat taxes are punitive). Which is it.

It isn't someones fault if they are born with lower than average intelligence. It is their fault if they continue to make poor decisions that keep them in poverty.

Hmm...No. That's actually false; much of the reason why poverty is cyclical and intergenerational is precisely because when you are born into poverty you are far less likely to have access to the good education and resources that would permit you to move up in the world.

Fun Fact: Nations with more progressive tax systems and more comprehensive public assistance systems have higher rates of poverty breakaway and social mobility.

[Wells]

Not exactly. Their income proportion is the same. Their income proportion after living expenses is what's significantly different, and unfair to the poor.

Turns out when cost of living is nearly everything you make the value of each dollar you make is much higher than for the rich.

[Elegiac]

Not exactly. Their income proportion is the same. Their income proportion after living expenses is what's significantly different, and unfair to the poor.

Fine. NET income proportion.