Major Mike's Musings » taxes

Cost of Education

Mike — Wed, 13 Apr 2011 22:45:59 +0000

Read in the paper this morning that a school district in Maine is giving iPads to each enrolling kindergartner. Yes, that’s kindergartner. They’re getting the $700 models. I think I’ll go back to school.

No wonder the cost per student in the US is around 10 grand each.

As The Curtain Lifts

Mike — Sat, 31 Jul 2010 19:37:40 +0000

I read in this morning’s The Villages Daily Sun that there is a move afoot in Congress to repeal the part of the health care law that requires all businesses to file paperwork on all of their vendors from whom they buy $600.00 goods or services in a year. Small businesses are up in arms because of the expense and massive amount of paperwork required to accomplish this. Democrats and Republicans are both in favor of repealing this section of the health care law.

It was allegedly incorporated originally to collect $19 billion of estimated unpaid taxes. $19 billion to help “pay” for the bill. That the health care bill would pay for itself was just plain incorrect. Now the curtain is being lifted.

Oh, Good. Another Bailout

Mike — Wed, 09 Dec 2009 19:12:05 +0000

President Obama announced another bailout. It’s not likely to work, but he has to do something besides blame the “previous administration” for the economy.

Here’s why government spending won’t fix the economy: Government money has to come from somewhere.

Taxes. Taxes come from the economy in the first place, so the net effect of government spending from taxes is zero.
Borrowing. Sure that puts extra money in the economy, but because of the interest, each dollar spent is worth less than a dollar.
Printing. Each extra dollar printed reduces the value of all the dollars already in circulation. Thus, each dollar spent is worth less than a dollar.

Government spending doesn’t create new wealth or extra jobs, it just redistributes money from those who pay taxes (or loan the government money) to those who help politicians get elected.¹

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I had a little help here from Glenn Beck’s Arguing With Idiots.

The Reason for Taxes

Mike — Mon, 08 Jun 2009 20:11:37 +0000

“Remember, the reason government is funded by taxes is because it produces almost nothing that people will pay for willingly.” — Mark Hillman

Federal Income Taxes and You

Mike — Thu, 17 Apr 2008 13:58:12 +0000

The Congressional Budget Office released the following figures:¹

% of Population	Approx Annual Income	% of Tax Burden Paid
Top 1%	$1.3 M or more	38.8%
Top 20%	$512 K or more	86.3%
Top 40%	$58 K or more	99.4%
Bottom 60%	Less than $58 K	0.06%
Bottom 40%	Less than $37 K	0.00%²

Of course these figures do not include Social Security and Medicare taxes nor are state income or sales taxes included, all of which (except the income taxes) will skew the figures toward the lower income folks.

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Historical Effective Tax Rates: 1979-2005. Released December 2007
Many in the category will get money “back” even though they paid no taxes.

Pay It With Pork

Mike — Thu, 09 Aug 2007 23:31:06 +0000

Congressional leaders are recommending a 5 cent tax hike per gallon of gasoline at the pump to pay for repairs for the nations bridges. I say, “Pay it with pork.” Gas tax per gallon is already almost twice the price we used to pay for an entire gallon of gas when I began driving…that’s not even counting the price during gas wars.Let’s get real, folks.

Gas Companies Report Record Profits

Mike — Sun, 03 Jun 2007 01:27:09 +0000

Do you think you’re getting hosed at the gas pump? In 2005, gas companies reported record profits of $62 billion. Of course, over the same period, gas taxes totaled $71 billion.”Who’s the big gouger, now?” I ask.

Taxes

Mike — Wed, 25 Apr 2007 14:33:28 +0000

Has anyone else noticed that when the government raises taxes, it’s on the “rich” but when the government reduces taxes it’s on everybody who pays them? Then when the government gives everyone the same-percentage tax cut, the folks who pay little taxes complain that the “rich” got a bigger tax cut.

A Defeat of Purpose

Mike — Sat, 22 Jul 2006 15:45:52 +0000

An article in yesterday’s The Villages Daily Sun reported that the Florida Citrus Commission raised the tax on orange growers 19%¹ to pay for a more aggressive advertising campaign. The commissioners cited rising supermarket prices for the cause of decreased consumption of Florida oranges and orange juice. “If you basically don’t hammer home the message to the consumer that as prices increase you still have to buy this, the consumer won’t,” said commission chairman Stephen Ryan.

So, Steve, let’s see…raise the tax (price)² on a product that is losing market share because the price is too high . Then advertise to overcome the rise in price the tax brings. Hmmmm.

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From 18.5 cents per 90-pound box to 22 cents per 90-pound box
The tax that will obviously be passed on to the consumer