On Jan 30, 2009, at 2:43 PM, Tom Piwowar wrote:
Sending money to someone who pays no taxes is not a cut. You can't
cut less than 0. That is a handout, pure and simple.
False. The poor pay a disproportionate percentage of their income to
taxes. You conveniently forget that income tax is just one of many
taxes
paid.
Disproportionate to what? Take sales tax - the poor tend to pay less
sales tax, as more of their expenditures are on non-tax items such as
food. With the earned income tax credit, their income tax can go
negative, offsetting their payroll tax in whole or in part (usually in
part as far as I know). Add in various forms of means tested
assistance, and there are indeed some who on balance are net
recipients rather than tax payers.
I have to admire, however, the assumption that tax cuts are spending.
This would mean that it is already presumed that your income belongs
to the state to spend as it sees fit. Only by the good graces do
they
let us keep some for ourselves.
False. You live in a world of hyperunreality. When you increase your
assets that is income.
It is only income if you can realize it. That is basic accounting.
When you decrease your assets that is an expenditure.
No, that is a loss, which can be brought about through expenditures or
through other events.
You are doing one or the other. When somebody owes you money
and you tell them to forget about paying it you have reduced your
assets,
Ding! - You presume that all income is owed to the government, making
reducing the tax rate an expenditure.
that is an expenditure. Do the neocons have some special Enron-style
accounting principle that turns expenditures into income? Get real!
When I was a financial analyst I just used debits and credits. What
do you use?
Matthew
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