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Old 01-16-09, 12:40 PM   #11
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Re: Obama Proposing $1,000 Tax Cut For Most Families

When one does not pay taxes to begin with and gets $1000 tax check, that is welfare, not a tax cut.
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Old 01-16-09, 05:00 PM   #12
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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When one does not pay taxes to begin with and gets $1000 tax check, that is welfare, not a tax cut.
How many people do you know that don't pay sales taxes?

Clearly, you don't know that you can take your state sales taxes as a deduction on your federal taxes.
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Old 01-16-09, 10:12 PM   #13
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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How many people do you know that don't pay sales taxes?

Clearly, you don't know that you can take your state sales taxes as a deduction on your federal taxes.
Individuals don't pay sales taxes. Business owners do.
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Old 01-16-09, 11:20 PM   #14
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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Originally Posted by Goldenboy219 View Post
Great thought!

If the truly wealthy, those with ultra high incomes ($5 million or more) would stop hording their money and buy at low prices, it will also create a multiplier effect. The only issue is: will they (prices)go lower?

Once the high income earners feel more upbeat about the economy, they will again begin to spend and invest (to increase net assets). Maybe this is the subconscious goal of TARP and future stimulus?
The wife and I have a net worth of about 800K, and an annual retirement income of a bit over 100K, but no life insurance. We consider ourselves well off, if not wealthy, but still we don't buy big ticket items just because we WANT them. Our vehicles are old, the Impala is 9 years old, the Silverado is 7, but we will keep them til they drop.
For us wealth is measured by what we don't need, not how much money we have. Ever hear the expression, "the best things in life are not things"?
What we HAVE that we consider part of wealth are not things, but our children and grandchildren, and because they are TRUE wealth, we still continue to invest in them....
and no, we are not looking to adopt anybody.
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Old 01-17-09, 02:17 PM   #15
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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For us wealth is measured by what we don't need, not how much money we have. Ever hear the expression, "the best things in life are not things"?
Man, are those some refreshing sentiments! "Measuring wealth by what we don't need..." That's good stuff. Falls like poetry on my ears. Soooo much better than, "We're off to Wal-Mart to buy crap we don't need with money we don't have in order to impress people who don't care."

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Old 01-17-09, 02:25 PM   #16
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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Originally Posted by Abber Cadabber View Post
Individuals don't pay sales taxes. Business owners do.
Individuals do pay sales taxes. Business owners collect the sales taxes that individuals pay on goods and services and submit those funds to the government.

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Old 01-17-09, 03:01 PM   #17
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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Man, are those some refreshing sentiments! "Measuring wealth by what we don't need..." That's good stuff. Falls like poetry on my ears. Soooo much better than, "We're off to Wal-Mart to buy crap we don't need with money we don't have in order to impress people who don't care."

Regards,
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in new readers digest....paraphrased...
prosperity is when you can buy stuff you don't need and can't afford, recession is when you stop doing it....
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Old 01-17-09, 05:34 PM   #18
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Re: Obama Proposing $1,000 Tax Cut For Most Families

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Originally Posted by Abber Cadabber View Post
Individuals don't pay sales taxes. Business owners do.
Incorrect. Business owners charge individuals sales taxes which they effectively just accumulate to give to the government. Businesses are essentially acting as an agent for the government in collection of such taxes. Therefore, individuals do pay sales taxes. You are confusing collecting and handing them over with paying. Sales taxes are on top of the sale made by businesses, they are not part of the business owner's original price.
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