TAX TAX TAX and more TAX

[SK in CV]

[quote=Aecetia]I think it is going to be difficult to define speculative trading from trading and anything that decreases money invested should work as a brake on what I still consider a fragile recovery. If you can show otherwise, then I would like to see how more transaction tax will stimulate Wall Street.[/quote]

I think the mistake here is the assumption that any stock trading increases the output of the economy. Other than when corporations go to market to raise capital (IPO’s or secondary offerings), it doesn’t. To bring it closer to this blog’s topic, it’s like looking at increased resale activity in the residential real estate market and saying the economy is growing. Other than brokerage commissions, it’s not. When I sell my 1,000 shares of Ford and you buy it, the economy hasn’t gotten any better. If I pay a 1/4 of a point to sell and/or you pay 1/4 of a point to buy, it probably won’t dissuade us from making the trade.

Probably different for day traders. But I think you’d be hard pressed to come up with an argument that that industry improves the economy as a whole.

[sdduuuude]

[quote=briansd1]Progressive means that you pay back to society in the same proportion that you get out of society.

If a group earns 50% of GPD, it should pay 50% of the taxes.

A progressive tax system should also consider wealth. Taxes should also be proportional to wealth because society protects that wealth and gives it value.[/quote]

You are using a term with a specific meaning – i.e. “progressive tax” to mean something that you want it to mean. It has nothing to do with what you give or get from society.

It means a tax that increases in percentage as the taxable base value grows.

You and the other guy are trying to make it sound like “progressive tax” means “tax I like” and “regressive tax” as “tax I don’t like” which is unacceptable.

Know what a term means and use it properly or don’t bring it up.

[sdduuuude]

[quote=briansd1]Progressive means that you pay back to society in the same proportion that you get out of society.

If a group earns 50% of GPD, it should pay 50% of the taxes.

A progressive tax system should also consider wealth. Taxes should also be proportional to wealth because society protects that wealth and gives it value.[/quote]

You are using a term with a specific meaning – i.e. “progressive tax” to mean something that you want it to mean. It has nothing to do with what you give or get from society.

It means a tax that increases in percentage as the taxable base value grows.

You and the other guy are trying to make it sound like “progressive tax” means “tax I like” and “regressive tax” as “tax I don’t like” which is unacceptable.

Know what a term means and use it properly or don’t bring it up.

[sdduuuude]

[quote=briansd1]Progressive means that you pay back to society in the same proportion that you get out of society.

If a group earns 50% of GPD, it should pay 50% of the taxes.

A progressive tax system should also consider wealth. Taxes should also be proportional to wealth because society protects that wealth and gives it value.[/quote]

You are using a term with a specific meaning – i.e. “progressive tax” to mean something that you want it to mean. It has nothing to do with what you give or get from society.

It means a tax that increases in percentage as the taxable base value grows.

You and the other guy are trying to make it sound like “progressive tax” means “tax I like” and “regressive tax” as “tax I don’t like” which is unacceptable.

Know what a term means and use it properly or don’t bring it up.

[sdduuuude]

[quote=briansd1]Progressive means that you pay back to society in the same proportion that you get out of society.

If a group earns 50% of GPD, it should pay 50% of the taxes.

A progressive tax system should also consider wealth. Taxes should also be proportional to wealth because society protects that wealth and gives it value.[/quote]

You are using a term with a specific meaning – i.e. “progressive tax” to mean something that you want it to mean. It has nothing to do with what you give or get from society.

It means a tax that increases in percentage as the taxable base value grows.

You and the other guy are trying to make it sound like “progressive tax” means “tax I like” and “regressive tax” as “tax I don’t like” which is unacceptable.

Know what a term means and use it properly or don’t bring it up.

[sdduuuude]

[quote=briansd1]Progressive means that you pay back to society in the same proportion that you get out of society.

If a group earns 50% of GPD, it should pay 50% of the taxes.

A progressive tax system should also consider wealth. Taxes should also be proportional to wealth because society protects that wealth and gives it value.[/quote]

You are using a term with a specific meaning – i.e. “progressive tax” to mean something that you want it to mean. It has nothing to do with what you give or get from society.

It means a tax that increases in percentage as the taxable base value grows.

You and the other guy are trying to make it sound like “progressive tax” means “tax I like” and “regressive tax” as “tax I don’t like” which is unacceptable.

Know what a term means and use it properly or don’t bring it up.

[all]

[quote=Aecetia]I think it is going to be difficult to define speculative trading from trading and anything that decreases money invested should work as a brake on what I still consider a fragile recovery. If you can show otherwise, then I would like to see how more transaction tax will stimulate Wall Street.[/quote]

Fraction of a penny tax on buying and selling double-inverse REIT ETF three times/day does not sound that cataclysmic to me.

Canceling school buses in Poway or Oceanside will certainly hurt more.

I’d make every effort not to stimulate Wall Street. Au contraire.

[all]

[quote=Aecetia]I think it is going to be difficult to define speculative trading from trading and anything that decreases money invested should work as a brake on what I still consider a fragile recovery. If you can show otherwise, then I would like to see how more transaction tax will stimulate Wall Street.[/quote]

Fraction of a penny tax on buying and selling double-inverse REIT ETF three times/day does not sound that cataclysmic to me.

Canceling school buses in Poway or Oceanside will certainly hurt more.

I’d make every effort not to stimulate Wall Street. Au contraire.

[all]

[quote=Aecetia]I think it is going to be difficult to define speculative trading from trading and anything that decreases money invested should work as a brake on what I still consider a fragile recovery. If you can show otherwise, then I would like to see how more transaction tax will stimulate Wall Street.[/quote]

Fraction of a penny tax on buying and selling double-inverse REIT ETF three times/day does not sound that cataclysmic to me.

Canceling school buses in Poway or Oceanside will certainly hurt more.

I’d make every effort not to stimulate Wall Street. Au contraire.

[all]

[quote=Aecetia]I think it is going to be difficult to define speculative trading from trading and anything that decreases money invested should work as a brake on what I still consider a fragile recovery. If you can show otherwise, then I would like to see how more transaction tax will stimulate Wall Street.[/quote]

Fraction of a penny tax on buying and selling double-inverse REIT ETF three times/day does not sound that cataclysmic to me.

Canceling school buses in Poway or Oceanside will certainly hurt more.

I’d make every effort not to stimulate Wall Street. Au contraire.

[all]

[quote=Aecetia]I think it is going to be difficult to define speculative trading from trading and anything that decreases money invested should work as a brake on what I still consider a fragile recovery. If you can show otherwise, then I would like to see how more transaction tax will stimulate Wall Street.[/quote]

Fraction of a penny tax on buying and selling double-inverse REIT ETF three times/day does not sound that cataclysmic to me.

Canceling school buses in Poway or Oceanside will certainly hurt more.

I’d make every effort not to stimulate Wall Street. Au contraire.

[UCGal]

[quote=flu]
Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.
[/quote]

When I was a kid my dad used to get auto body work, and car paint jobs down in TJ. He got busted and had to pay taxes once, when crossing the border – the border patrol agent smelled the fresh paint on the beat old Ford Cortina.

I lived in Bellingham for 3 years. (US side, just south of Vancouver, BC). The mall there, Bellis Fair, used to ask customers if they needed/wanted the bags/shoe boxes, etc… It was a policy developed after realizing all the Canadian shoppers were dumping the tags/bags/boxes in the parking lot.

I was there 2 weeks ago visiting friends. I asked if the malls were still overrun with Canadians shopping – the answer was no – the exchange rate precludes it. (I lived there in the early 90’s). They still come into Blaine for cheap gas though.

People will go to measures to save sales taxes – but there’s always a risk of being caught. My dad learned that the hard way. I’ve had to pay duty when bringing wine back from Italy… The government will try to collect. (This was pre-9/11 when you could carry liquids on a plane as carry on.)

[UCGal]

[quote=flu]
Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.
[/quote]

When I was a kid my dad used to get auto body work, and car paint jobs down in TJ. He got busted and had to pay taxes once, when crossing the border – the border patrol agent smelled the fresh paint on the beat old Ford Cortina.

I lived in Bellingham for 3 years. (US side, just south of Vancouver, BC). The mall there, Bellis Fair, used to ask customers if they needed/wanted the bags/shoe boxes, etc… It was a policy developed after realizing all the Canadian shoppers were dumping the tags/bags/boxes in the parking lot.

I was there 2 weeks ago visiting friends. I asked if the malls were still overrun with Canadians shopping – the answer was no – the exchange rate precludes it. (I lived there in the early 90’s). They still come into Blaine for cheap gas though.

People will go to measures to save sales taxes – but there’s always a risk of being caught. My dad learned that the hard way. I’ve had to pay duty when bringing wine back from Italy… The government will try to collect. (This was pre-9/11 when you could carry liquids on a plane as carry on.)

[UCGal]

[quote=flu]
Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.
[/quote]

When I was a kid my dad used to get auto body work, and car paint jobs down in TJ. He got busted and had to pay taxes once, when crossing the border – the border patrol agent smelled the fresh paint on the beat old Ford Cortina.

I lived in Bellingham for 3 years. (US side, just south of Vancouver, BC). The mall there, Bellis Fair, used to ask customers if they needed/wanted the bags/shoe boxes, etc… It was a policy developed after realizing all the Canadian shoppers were dumping the tags/bags/boxes in the parking lot.

I was there 2 weeks ago visiting friends. I asked if the malls were still overrun with Canadians shopping – the answer was no – the exchange rate precludes it. (I lived there in the early 90’s). They still come into Blaine for cheap gas though.

People will go to measures to save sales taxes – but there’s always a risk of being caught. My dad learned that the hard way. I’ve had to pay duty when bringing wine back from Italy… The government will try to collect. (This was pre-9/11 when you could carry liquids on a plane as carry on.)

[UCGal]

[quote=flu]
Actually, many canadians at the border do just this. They get all their auto repair, big purchases done in the States to escape all the VAT/provicial taxes. Of course, they have to be careful about re-entry into canada, because if it’s so obvious, they end up paying customs at the border.
[/quote]

When I was a kid my dad used to get auto body work, and car paint jobs down in TJ. He got busted and had to pay taxes once, when crossing the border – the border patrol agent smelled the fresh paint on the beat old Ford Cortina.

I lived in Bellingham for 3 years. (US side, just south of Vancouver, BC). The mall there, Bellis Fair, used to ask customers if they needed/wanted the bags/shoe boxes, etc… It was a policy developed after realizing all the Canadian shoppers were dumping the tags/bags/boxes in the parking lot.

I was there 2 weeks ago visiting friends. I asked if the malls were still overrun with Canadians shopping – the answer was no – the exchange rate precludes it. (I lived there in the early 90’s). They still come into Blaine for cheap gas though.

People will go to measures to save sales taxes – but there’s always a risk of being caught. My dad learned that the hard way. I’ve had to pay duty when bringing wine back from Italy… The government will try to collect. (This was pre-9/11 when you could carry liquids on a plane as carry on.)

[Author]

Posts