The Rabbit Hole | Page 143 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Peering down the algorithmic trading rabbit hole 11 replies

Badgers Bolt hole 39 replies

Different Charting software: Hole in charts? 0 replies

Pipbuilder's hole 2 replies

Black Hole Trading 0 replies

Attachments: The Rabbit Hole
Exit Attachments

The Rabbit Hole

  • #2,841
  • Mar 21, 2017 6:01am Mar 21, 2017 6:01am
Hey I recently learnt a new word - it's a millennial thing. Sick means cool, great, fantastic. My 8 year old confirmed it. So, our friend SOS really means Cool.
  • #2,842
  • Mar 21, 2017 6:08am Mar 21, 2017 6:08am
The top 1% of earners in the UK pay 27% of all income tax.
http://www.dailymail.co.uk/news/article-4331350/Tax-paid-1-TREBLED-1970s.html
Attached Image (click to enlarge)
Click to Enlarge Name: 3E74F44500000578-0-image-a-1_1490012382452.jpg Size: 77 KB
  • #2,843
  • Mar 21, 2017 6:25am Mar 21, 2017 6:25am
Quoting jen101
The top 1% of earners in the UK pay 27% of all income tax. http://www.dailymail.co.uk/news/article-4331350/Tax-paid-1-TREBLED-1970s.html {image}
I think fair way is to scrap all taxation on income and just a single consumption tax. You then have choice if you want it, you going to pay for it. There will be people who just can't do without stuff and for some it will make them think do I really need this to store in a garage/ shed/ spare room etc and hardly use.

Don't press me on the finer details just an idea.
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #2,844
  • Mar 21, 2017 6:32am Mar 21, 2017 6:32am
Quoting jen101
The top 1% of earners in the UK pay 27% of all income tax. http://www.dailymail.co.uk/news/article-4331350/Tax-paid-1-TREBLED-1970s.html {image}
Close to same here. On income taxes top 1% pays more than the bottom 90%. Bottom 50% pays almost nothing -- even though all use and benefit from infrastructures. Why its so difficult to institute tax reforms. Word "fair" is one of the most important words in the democrat basket. Always fair share though you can almost never get them to give a figure on what is fair
Defending Truth, Capitalism and the US Constitution
  • #2,845
  • Mar 21, 2017 6:44am Mar 21, 2017 6:44am
Quoting Stu Effex
{quote} I think fair way is to scrap all taxation on income and just a single consumption tax.
Absolutely!! There is a book written by by Neal Boortz and Georgia congressman John Linder (Reaganbooks, 2005) that outlines perfectly how one would work across all income ranges. I think it would take two things to completely turn the US around and keep it pretty much on track. Abolish most of the IRS, institute a consumption tax (fair tax) and institute congressional term limits. That would completely de-fang politicians power and the ability to bestow most political favors. Trump administration supports both issues. That is the REAL reason establishment types from both parties are violently opposed to him.
Defending Truth, Capitalism and the US Constitution
  • #2,846
  • Mar 21, 2017 7:08am Mar 21, 2017 7:08am
Quoting jarhead
{quote} Absolutely!! There is a book written by by Neal Boortz and Georgia congressman John Linder (Reaganbooks, 2005) that outlines perfectly how one would work across all income ranges. I think it would take two things to completely turn the US around and keep it pretty much on track. Abolish most of the IRS, institute a consumption tax (fair tax) and institute congressional term limits. That would completely de-fang politicians power and the ability to bestow most political favors. Trump administration supports both issues. That is the REAL reason...
Hey Jim I was Court Martialed over night
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #2,847
  • Mar 21, 2017 7:11am Mar 21, 2017 7:11am
Quoting Stu Effex
{quote} Hey Jim I was Court Martialed over night
Dog-gonnit, Stu Boy -- I told you to behave yo-self!
Defending Truth, Capitalism and the US Constitution
  • #2,848
  • Mar 21, 2017 7:29am Mar 21, 2017 7:29am
Quoting Stu Effex
{quote} I think fair way is to scrap all taxation on income and just a single consumption tax. You then have choice if you want it, you going to pay for it. There will be people who just can't do without stuff and for some it will make them think do I really need this to store in a garage/ shed/ spare room etc and hardly use. Don't press me on the finer details just an idea.
Yup, it's called VAT. So maybe you are suggesting that we have much higher rates of VAT instead and apply it to food and children's clothes as well. So, eat more, pay more tax................... that would go down well! How would a family of 10 kids on benefits with fat parents smoking and drinking, eating takeaways, buying PS4s and 4K TVs cope? I wonder what fuel duty would be?!
  • #2,849
  • Mar 21, 2017 7:36am Mar 21, 2017 7:36am
Quoting jen101
{quote} Yup, it's called VAT. So maybe you are suggesting that we have much higher rates of VAT instead and apply it to food and children's clothes as well. So, eat more, pay more tax................... that would go down well! How would a family of 10 kids on benefits with fat parents smoking and drinking, eating takeaways, buying PS4s and 4K TVs cope? I wonder what fuel duty would be?!
Er yes sort of. The benefits side of things in my world would look nothing like the existing tho'.

Not much higher than existing. A consumption tax is probably one of the few things you can't dodge. So increase in that and no income tax would catch the dodgers out too. So the tax will automatically regulate inline with income. Think this way a big earner won't feel they are paying for some arsehole to sit on the couch smoking. And with a benefits shake-up that side can be sorted in a non weak government. So you can still be big earner but choose to buy less stuff and consequently save on tax.

Anyway I said don't press me on the finer details !! Could work it out properly if you put me in as chancellor
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #2,850
  • Mar 21, 2017 7:41am Mar 21, 2017 7:41am
Quoting jarhead
{quote} Close to same here. On income taxes top 1% pays more than the bottom 90%. Bottom 50% pays almost nothing -- even though all use and benefit from infrastructures. Why its so difficult to institute tax reforms. Word "fair" is one of the most important words in the democrat basket. Always fair share though you can almost never get them to give a figure on what is fair
What would that be as a percentage of income?
If you are good at something, never do it for free--Joker
  • #2,851
  • Mar 21, 2017 7:46am Mar 21, 2017 7:46am
Quoting jmn5611
{quote} What would that be as a percentage of income?
What difference does it make?
Defending Truth, Capitalism and the US Constitution
  • #2,852
  • Mar 21, 2017 7:49am Mar 21, 2017 7:49am
Quoting Stu Effex
{quote} Er yes sort of. The benefits side of things in my world would look nothing like the existing tho'. Not much higher than existing. A consumption tax is probably one of the few things you can't dodge. So increase in that and no income tax would catch the dodgers out too. So the tax will automatically regulate inline with income. Think this way a big earner won't feel they are paying for some arsehole to sit on the couch smoking. And with a benefits shake-up that side can be sorted in a non weak government. So you can still be big earner but...
OK, Chancellor Stu, what about people on benefits (the ones with lots of kids) who currently pay no tax? All of a sudden they will have to pay more than most. This would be the poor getting poorer and rich richer.... the left would have a field day with this!

And foreign visitors? What will happen to the tourist industry?

And what if I decide to (regularly) hop over to the Continent and buy my stuff from the EU?
  • #2,853
  • Mar 21, 2017 7:57am Mar 21, 2017 7:57am
Quoting jen101
{quote} OK, Chancellor Stu, what about people on benefits who currently pay no tax? All of a sudden they will have to pay more than most. This would be the poor getting poorer and rich richer.... the left would have a field day with this! And foreign visitors? What will happen to the tourist industry?
The Boortz book one of the best in my library. The lower income families actually get a check every month to balance out the cost for food, fuel and essentials. It is really a very balanced system that promotes responsibility, initiative to improve ones self and makes sure everyone pays - from drug dealers and pimps to the political class. Book is under $15. and a very good education on how a good tax system would raise everybody's boat at the same time.
Defending Truth, Capitalism and the US Constitution
  • #2,854
  • Mar 21, 2017 7:58am Mar 21, 2017 7:58am
Quoting jen101
{quote} OK, Chancellor Stu, what about people on benefits who currently pay no tax? All of a sudden they will have to pay more than most. This would be the poor getting poorer and rich richer.... the left would have a field day with this! And foreign visitors? What will happen to the tourist industry?
No it just means they buy within their means. Want more stuff go out and earn the dosh to buy it. This catches foreign visitors too, only they get special treatment like a bill when they turn up at hospital or doctors !!

It is equitable in all areas if you afford it you buy it and pay the tax if you can't you don't. That can be holidays, hats, 50"tv the lot.

Come on we can iron out the creases !!

EDIT; Be interesting to hear other ideas of what could be a fair system?
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #2,855
  • Mar 21, 2017 8:13am Mar 21, 2017 8:13am
Quoting Stu Effex
{quote} No it just means they buy within their means. Want more stuff go out and earn the dosh to buy it. This catches foreign visitors too, only they get special treatment like a bill when they turn up at hospital or doctors !! It is equitable in all areas if you afford it you buy it and pay the tax if you can't you don't. That can be holidays, hats, 50"tv the lot. Come on we can iron out the creases !! EDIT; Be interesting to hear other ideas of what could be a fair system?
This is what I would do...

Beyond a personal allowance of say 10-12k, everyone to be taxed at a flat rate of say 20%. That way, higher earners do pay more. (I don't think lefties understand simple percentages). Then I would have a band of say 200k+ that would be subject to just 10%. I would want to attract all the top people, who in turn will employ many others, and provides an incentive for workers to strive and earn more.

I would also sack half the Civil Service, mostly the old dinosaurs shuffling bits of paper, thinking they're all important and unsackable. Or re-employ them on front lines like picking up rubbish and cleaning streets. Also, I would pay Civil Servants net of tax as that is just extra admin costing money.
  • #2,856
  • Mar 21, 2017 8:20am Mar 21, 2017 8:20am
Quoting jen101
{quote} This is what I would do... Beyond a personal allowance of say 10-12k, everyone to be taxed at a flat rate of say 20%. That way, higher earners do pay more. (I don't think lefties understand simple percentages). Then I would have a band of say 200k+ that would be subject to just 10%. I would want to attract all the top people, who in turn will employ many others, and provides an incentive for workers to strive and earn more. I would also sack half the Civil Service, mostly the old dinosaurs shuffling bits of...
I would much rather have this type system than what we have. The main benefit of a consumption tax is that you get virtually everyone that buys things. Any other system misses the black market, exchange systems, and your normal tax cheats. Some figures show the tax income from the aforementioned would greatly lower the overall tax rate.
Defending Truth, Capitalism and the US Constitution
  • #2,857
  • Mar 21, 2017 8:20am Mar 21, 2017 8:20am
Quoting jen101
{quote} This is what I would do... Beyond a personal allowance of say 10-12k, everyone to be taxed at a flat rate of say 20%. That way, higher earners do pay more. (I don't think lefties understand simple percentages). Then I would have a band of say 200k+ that would be subject to just 10%. I would want to attract all the top people, who in turn will employ many others, and provides an incentive for workers to strive and earn more. I would also sack half the Civil Service, mostly the old dinosaurs shuffling bits of...
So now my turn to interrogate ! What about the self employed ? How glorious would it be to not need accountants to dodge taxes ? How we deal with tax right offs ?
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #2,858
  • Mar 21, 2017 8:22am Mar 21, 2017 8:22am
Boy, we good! We answering each others questions fo tha asked!!
Defending Truth, Capitalism and the US Constitution
  • #2,859
  • Mar 21, 2017 8:23am Mar 21, 2017 8:23am
Quoting Stu Effex
{quote} So now my turn to interrogate ! What about the self employed ? How glorious would it be to not need accountants to dodge taxes ? How we deal with tax right offs ?
Same system, just different numbers... Self employed same rates...

Ok, edit, why don't we do a bit of each? Low taxes and a bit more consumption tax?
  • #2,860
  • Mar 21, 2017 8:27am Mar 21, 2017 8:27am
Quoting jen101
{quote} Or hit reply in a new tab, copy that then go back to your original tab and paste. All these ctrls are confusing.
.....showing my age


Quoting jen101
{quote} No, preserves them. Tinctures are good for 3-4 years. Plus gets into your bloodstream quicker.
Aaah ... just the excuse I was looking for. Pass the gin
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
0 traders viewing now