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Should there be Reparations for slavery???
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Mar 4, 2019 15:36:31   #
acknowledgeurma
 
Larry the Legend wrote:
Sorry, but government collects neither rents, royalties nor grazing fees. Government collects taxes, that government sets arbitrarily, and the people are forced to pay at the point of a gun, if necessary. In reality, there are literally hundreds of taxes paid by all of us, every day. We just don't see it. Would you like an incomplete list? It's incomplete because it's impossible to find them all in the millions of pages of laws and statutes preserved in the Congressional archives.


Definition of tax:
https://www.investopedia.com/terms/t/taxes.asp
Taxes are involuntary fees levied on individuals or corporations and enforced by a government entity - whether local, regional or national - in order to finance government activities.

Any voluntary payment to a government would not be a tax.

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Mar 4, 2019 15:49:37   #
acknowledgeurma
 
Larry the Legend wrote:
How so? Are you saying that you didn't earn that money that was taken from you by force? Rents and mortgages are agreed to by mutual assent. They're contracts signed by both parties that have rights and obligations attached to them. Taxes are a one-way flow of assets from the productive to the non-productive among us.

Well actually, since I'm a capitalist who lives off the return of capital, I "didn't earn that money", my capital "earned" it. But that's beside the point. I voluntarily pay my applicable taxes for the privilege of living in this country, as every good citizen and resident should.

If you don't want to pay your applicable taxes, leave.

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Mar 4, 2019 15:55:45   #
acknowledgeurma
 
Larry the Legend wrote:
I'm very certain that all of the money you pony up to the IRS goes to pay the interest on the national debt to the Federal Reserve System. That's right, your 'hard earned tax payment' goes to support and encourage a system that not only charges you for the privilege of holding money, but systematically undermines the value of that money through currency inflation.

Did you ever stop to wonder why it is that a dollar today will buy the same things as three cents would buy in 1912? It ain't 'natural', let's put it that way.
I'm very certain that all of the money you pony up... (show quote)

Well if you want to think that the taxes you pay goes to paying the interest on the national debt, go right ahead. I like to think mine go to the efforts of the CDC and similar Federal agencies. And as for the interest on the national debt, I imagine that's paid with the money we borrow from the Chinese.

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Mar 4, 2019 17:40:04   #
Larry the Legend Loc: Not hiding in Milton
 
acknowledgeurma wrote:
See US Constitution, Article IV, Section 3, Clause 2:
https://en.wikipedia.org/wiki/Article_Four_of_the_United_States_Constitution#Clause_2:_Property_Clause

The Congress shall have Power to dispose of and make all needful Rules and Regulations respecting the Territory or other Property belonging to the United States; and nothing in this Constitution shall be so construed as to Prejudice any Claims of the United States, or of any particular State.

Regarding US owned patents:
https://www.uspto.gov/web/offices/ac/ido/oeip/taf/govt/govt_toc.htm
See US Constitution, Article IV, Section 3, Clause... (show quote)

Damn you're good!
I bow to your greater knowledge, oh wizened one!
Actually, I really am impressed. It's usually me doing this kind of research and the one on the other end flipping me off for the effort. Consider my hat tipped...



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Mar 4, 2019 18:01:43   #
Mikeyavelli
 
acknowledgeurma wrote:
Me or the play?

It's from Porgy and Bess (It Ain't Necessarily So).


Yer right, I loves you porgy
Little David, was small but oh my
He slew big Goliath
Who lay down and dyith
Little David
Was small
But oh my!

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Mar 4, 2019 20:08:57   #
JoyV
 
acknowledgeurma wrote:
Well if you want to think that the taxes you pay goes to paying the interest on the national debt, go right ahead. I like to think mine go to the efforts of the CDC and similar Federal agencies. And as for the interest on the national debt, I imagine that's paid with the money we borrow from the Chinese.


Here is where Federal income tax goes.
https://www.businessinsider.com/biggest-things-your-income-taxes-pay-for-2013-4#3-income-security-3

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Mar 4, 2019 21:35:34   #
Larry the Legend Loc: Not hiding in Milton
 

The most recent forecast from the Office of Management and Budget for October 1, 2018, through September 30, 2019 puts income tax receipts at $1.688 trillion. According to your link:

Nearly 25 percent of all income taxes go to pay for defense.

25% of $1.688 trillion amounts to $422 billion. The 2019 Defense budget calls for $950 billion, a shortfall of $528 billion.

About 22.5 percent of income tax revenue goes toward health care programs.

22.5% of $1.68 trillion is $378 billion. The 2019 healthcare budget calls for $1.23 trillion, a shortfall of $852 billion.

About 8 percent of income tax revenue goes toward paying annual interest on the Federal debt. Due to the current ultra low Federal Reserve interest rate, interest on Federal government debt only amounts to $360 billion. 8% of 1.68 trillion is $134 billion, a shortfall of $226 billion.

Just those three items amount to a shortfall of over $1.6 trillion, and social security hasn't raised its ugly head yet. So where's all the 'money' coming from?

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Mar 4, 2019 22:48:07   #
acknowledgeurma
 
Larry the Legend wrote:
The most recent forecast from the Office of Management and Budget for October 1, 2018, through September 30, 2019 puts income tax receipts at $1.688 trillion. According to your link:

Nearly 25 percent of all income taxes go to pay for defense.

25% of $1.688 trillion amounts to $422 billion. The 2019 Defense budget calls for $950 billion, a shortfall of $528 billion.

About 22.5 percent of income tax revenue goes toward health care programs.

22.5% of $1.68 trillion is $378 billion. The 2019 healthcare budget calls for $1.23 trillion, a shortfall of $852 billion.

About 8 percent of income tax revenue goes toward paying annual interest on the Federal debt. Due to the current ultra low Federal Reserve interest rate, interest on Federal government debt only amounts to $360 billion. 8% of 1.68 trillion is $134 billion, a shortfall of $226 billion.

Just those three items amount to a shortfall of over $1.6 trillion, and social security hasn't raised its ugly head yet. So where's all the 'money' coming from?
The most recent forecast from the Office of Manage... (show quote)

From:
https://www.thebalance.com/u-s-federal-budget-breakdown-3305789

The federal government estimated it would receive $3.422 trillion in revenue. Most of the taxes are paid by you, either through income or payroll taxes:

Income taxes contribute $1.622 trillion or 49 percent of total receipts.
Social Security, Medicare, and other payroll taxes add $1.238 trillion or 36 percent.
Corporate taxes supply $225 billion or 7 percent.
Excise taxes and tariffs contribute $152 billion or 4 percent.
Earnings from the Federal Reserve's holdings add $55 billion or 2 percent. Those are interest payments on the U.S. Treasury debt the Fed acquired through quantitative easing.
Estate taxes and other miscellaneous revenue supply the remaining 2 percent.

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Mar 4, 2019 22:52:24   #
acknowledgeurma
 

Perhaps I should have said, "I like to imagine that's paid with the money we borrow from the Chinese."

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Mar 4, 2019 23:43:31   #
Larry the Legend Loc: Not hiding in Milton
 
acknowledgeurma wrote:
From:
https://www.thebalance.com/u-s-federal-budget-breakdown-3305789

The federal government estimated it would receive $3.422 trillion in revenue. Most of the taxes are paid by you, either through income or payroll taxes:

Income taxes contribute $1.622 trillion or 49 percent of total receipts.
Social Security, Medicare, and other payroll taxes add $1.238 trillion or 36 percent.
Corporate taxes supply $225 billion or 7 percent.
Excise taxes and tariffs contribute $152 billion or 4 percent.
Earnings from the Federal Reserve's holdings add $55 billion or 2 percent. Those are interest payments on the U.S. Treasury debt the Fed acquired through quantitative easing.
Estate taxes and other miscellaneous revenue supply the remaining 2 percent.
From: br https://www.thebalance.com/u-s-federal-bu... (show quote)


That still only accounts for 90%.

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Mar 4, 2019 23:45:24   #
Larry the Legend Loc: Not hiding in Milton
 
acknowledgeurma wrote:
Perhaps I should have said, "I like to imagine that's paid with the money we borrow from the Chinese."

OK, let's try it this way. Who is the US government's biggest creditor, by far?

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Mar 4, 2019 23:57:06   #
proud republican Loc: RED CALIFORNIA
 
Larry the Legend wrote:
OK, let's try it this way. Who is the US government's biggest creditor, by far?


Who??

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Mar 5, 2019 11:10:31   #
acknowledgeurma
 
Larry the Legend wrote:
OK, let's try it this way. Who is the US government's biggest creditor, by far?

Off the top of my head, I would say, the Social Security Administration is the US government's biggest creditor.

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Mar 5, 2019 11:19:40   #
acknowledgeurma
 
Larry the Legend wrote:
That still only accounts for 90%.

Do you mean, this accounts for only 90% of the US governments spending? This condition is called "deficit spending".

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Mar 5, 2019 12:14:41   #
Larry the Legend Loc: Not hiding in Milton
 
acknowledgeurma wrote:
Off the top of my head, I would say, the Social Security Administration is the US government's biggest creditor.

Nope. Not even close. Wanna try again?

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