Budget headers

[Hipster]

Oh,I'm not jelous. A man that works hard should be able to have more money and a nicer lifestyle. But that man should also pay the same tax for his $200 lobster as I'm paying for my $2 mullet and beans.

wasn't saying you in particular , or was it really directed at anybody in particular. just in general there are people that seem to harbor some feelings towards successful individuals or entities not realizing everything is not what it seems or what they had been fed as truths aren't. What you're saying is contrary to how we currently do things. Currently the more you make the more you get penalized. $2+M of this man's money after capex, deductions etc. went for taxes. I think it's insane and others think it isn't enough.

 

[62barsoom]

Good golly but this thread went sideways. For what it's worth my opinion is follow the money. From corporations to politicians of every stipe it's greed. Everything you look at is flooded with somebody trying to get in our pockets. I was hoping for a tip on inexpensive headers. There's no muffler shop within 2 hours for our farm to hook up the pipes for me. I've been searching for some with air hookups and dang but they are pricey. Last set I bought was Doug Thorly's ceramic coated for my old Toyata pickup with a 22 RE. Years ago and I think they were less than $200. Ha I put a mild cam in it as well, bet I got all the way to 97HP.

 

[Hipster]

I was not figuring this based on individual purchase/individual tax returns.

I was expecting this to be based on USA combined import tax generation of one year, being offset by reduced or non-existent personal income tax rates the next year. I'd expect the first couple of years to generate enough income from the import tax so that the personal income tax would be outright cancelled; the Government might actually have MORE money to waste AND We the People wouldn't even have to file a personal tax return. (H&R Block and the rest of those criminals will scream bloody murder when they're no longer "needed" to fleece the population. I'd be HAPPY to put those workers and corporate criminals out-of-business.)

As imports reduce due to higher costs, there's more incentive to manufacture in the USA, to avoid the import tax. The import tax offsets the lower wage scale and reduced expense due to ignoring environmental and safety laws in foreign countries. USA companies don't have to compete against countries that pros_titute their workforce or their land/water/air. It's no longer a race-to-the-bottom.

Ideally, the import tax would be on a variable scale, with our border neighbors (Canada and Mexico) receiving the lowest tax rate (but some) and hostile or Communist countries receiving the highest tax rate.

Coupled to a refusal to allow trade deficits, enormously more money stays in the USA instead of being exported. Why are we exporting money?

A ridiculous example , but what kind of import tax would you have to put on a chinese toaster to make it worthwhile to build a union shop that's full of people that think it's worth $40/hr to assemble toasters in this country to make the proposition viable. Either way it's the consumer that pays the price.

I don't disagree on trade deficits and the bloodletting. Worst is the sale of natural resources and buying back through global markets.

 

[Hipster]

Good golly but this thread went sideways. For what it's worth my opinion is follow the money. From corporations to politicians of every stipe it's greed. Everything you look at is flooded with somebody trying to get in our pockets. I was hoping for a tip on inexpensive headers. There's no muffler shop within 2 hours for our farm to hook up the pipes for me. I've been searching for some with air hookups and dang but they are pricey. Last set I bought was Doug Thorly's ceramic coated for my old Toyata pickup with a 22 RE. Years ago and I think they were less than $200. Ha I put a mild cam in it as well, bet I got all the way to 97HP.

lol, I got Dougs for my Plymouth and twice $200 would have been a smoking deal.

 

[Erik the Awful]

Currently the more you make the more you get penalized.

Only on paper, and that's the problem. If you're rich you can afford tax accountants and you can dodge most of your taxes. It's like a couple years ago when people decried that we had the second highest corporate taxes in the world. They were right that on paper we had the highest tax rates, but then you had plenty of companies dodging taxes entirely. The tax code has been purposely complicated to make it easier for cheats to get out of paying taxes outright. I don't have any discontent with successful people, I just want everyone to pay their fair share.

 

[Scooterwrench]

Good golly but this thread went sideways. For what it's worth my opinion is follow the money. From corporations to politicians of every stipe it's greed. Everything you look at is flooded with somebody trying to get in our pockets. I was hoping for a tip on inexpensive headers.

Now you know why you can't find them.

 

[Scooterwrench]

I'll probably catch hell for this but I think they should drop the minimum wage. A higher MW doesn't do the American worker any good. Wages go up,prices go up and your still as poor as before,you're just pushing around bigger numbers. Who does make out with a wage increase is the revenuer. Now your showing that you're making more money so he wants that bigger piece. Remember,you're taxed on gross salary,not net.

 

[0xDEADBEEF]

Inflation is to some extent the result of policy and energy prices. These days energy prices are a result of policy too.

I can assure you that 100k of earned income is taxed the same no matter who you are or what you are worth, and this is true for any amount of income. Rich people tend to own things that are hard to assess taxes on. The business pays taxes, but there is no tax on the value of the business until it is realized (sold). This is why some want to make the taxes on capital the same as income, and I think that kills the incentive to build/design/develop. I think it ultimately makes everyone poorer.

Personally, I think income taxes should be abolished. They were sold to the American people as something only the super wealthy would pay and it's really only the middle class that feels the pain of them now.

 

[GrimsterGMC]

I'll probably catch hell for this but I think they should drop the minimum wage. A higher MW doesn't do the American worker any good. Wages go up,prices go up and your still as poor as before,you're just pushing around bigger numbers. Who does make out with a wage increase is the revenuer. Now your showing that you're making more money so he wants that bigger piece. Remember,you're taxed on gross salary,not net.

You are exactly right, we have been through this down here in NZ, it has been pushed up many times over the last 6 years our current leaders have been in charge and it worked out exactly as you say. Only the tax man wins and that's why the government did it, it raises their revenue collection.

 

[Hipster]

Only on paper, and that's the problem. If you're rich you can afford tax accountants and you can dodge most of your taxes. It's like a couple years ago when people decried that we had the second highest corporate taxes in the world. They were right that on paper we had the highest tax rates, but then you had plenty of companies dodging taxes entirely. The tax code has been purposely complicated to make it easier for cheats to get out of paying taxes outright. I don't have any discontent with successful people, I just want everyone to pay their fair share.

There's fraudsters at all levels. I don't think most are looking to trigger an audit for themselves. As a mechanic you never did a brake job or something in your driveway for cash and put the money directly in your pocket? But that's different, doesn't justify it. I would find it hard to believe you didn't hustle some cash jobs in your lifetime.

I know the tax laws are overly complex and when I have had my own corp I sat down with a family member who was a CPA. Here is where most that don't have any business sense get lost, I could post record earnings, this is not a net profit number. There's capex, r&d the rest of the bills, matching FICA, health insurance if that's the case, employee theft and losses, etc. that get paid out of that. All the crap the employee forgets about when only thinking of themselves, Need to read the 10-k's, not the media headlines. Most publicly traded large corp's are working on 4-5% margins. If they invest it back in or give a bit for goodwill purposes it's not dodging taxes.

Here's another brilliant business plan, let's go on strike and disrupt supply chains to the point customer cars are hung up at the local level waiting on parts for mechanical and/or crash repairs because biting the hands that feed us is always great for business.