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Personal income tax rates going up soon!

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Personal income tax rates going up soon!

Unread postby lowem » Mon 24 Aug 2009, 10:06:38

Goes to show that there is more than one way to write a headline, here's the original :)

Global decline in personal income tax rates may be ending soon

The global decline in personal income tax rates over the past seven years may be coming to an end. According to a new survey by KPMG, such an end could be due to the need for new sources of budgetary and stimulus funding among governments.

Many countries worldwide are facing increasing budget deficits in the current economic environment. And with many economies still in need of funding for various economic stimulus packages, KPMG said some governments are turning to top earners for additional tax revenue ...


Something to watch out for. With governments the world over going into deficits and increasing stimulus spending in many areas, they are going to look for ways to replenish the coffers. Can't say I'd blame them, but it'd be good to be on the lookout.
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Re: Personal income tax rates going up soon!

Unread postby jlw61 » Mon 24 Aug 2009, 12:17:03

Unfortunately very few people realize that it's not a tax problem, but a spending problem.
When somebody makes a statement you don't understand, don't tell him he's crazy. Ask him what he means. -- Otto Harkaman, Space Viking
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Re: Personal income tax rates going up soon!

Unread postby Plantagenet » Mon 24 Aug 2009, 12:50:53

Thats because our politicans are lying dogs and most people aren't smart enough to see through it. Right now our politicians are promising us that the US government can supply medical care to 46 million people but it won't cause our taxes to go up or the deficit to increase.

Sounds really good....sure.....give us some of that.
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Re: Personal income tax rates going up soon!

Unread postby ian807 » Mon 24 Aug 2009, 14:01:06

Plantagenet wrote:..politicians are promising us that the US government can supply medical care to 46 million people but it won't cause our taxes to go up or the deficit to increase.

So, tell me again how this has been in place in Europe since WWII, but it's impossible for us in the USA? We're what? Too lame? Too stupid? Too poor to do what Brits, the French or Canadians pull off? Really, clue me in. How are we so inadequate that we can't do what they did?

FYI, before you come back with the standard "Their system is horrible," would you at least please *check* the blogs, newspapers and comments of people in other countries and what they think of their health care? It will really save us all some time.
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Re: Personal income tax rates going up soon!

Unread postby EnergyUnlimited » Mon 24 Aug 2009, 14:46:51

ian807 wrote:
Plantagenet wrote:..politicians are promising us that the US government can supply medical care to 46 million people but it won't cause our taxes to go up or the deficit to increase.

So, tell me again how this has been in place in Europe since WWII, but it's impossible for us in the USA? We're what? Too lame? Too stupid? Too poor to do what Brits, the French or Canadians pull off? Really, clue me in. How are we so inadequate that we can't do what they did?

FYI, before you come back with the standard "Their system is horrible," would you at least please *check* the blogs, newspapers and comments of people in other countries and what they think of their health care? It will really save us all some time.

Differences between American and British health care systems are such as:

1. In US you don't have to wait for long before treatment is delivered, but if you are uninsured and don't have sufficient funds you will:
a) get well by forces of Nature or:
b) remain sick/debilitated for good or:
c) die or:
d) get cured but end up with life long debt.

2. In the UK you have to wait to get "free" treatment, however you will either die or end up debilitated for life or get well by forces of Nature if that waiting list is long enough to prevent you from getting timely treatment.
Unfortunately it is often the case.
Length of this infamous NHS waiting list and the very access to large number of high tech, state of the art therapies is also determined by your postal code, eg address of your residence.
Certainly it is far better to live in Essex than in Cornwall in this context and Midlands are also better than Yorkshire.
You can also use private alternative if appropriately insured or wealthy enough.

So take your pick...
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Re: Personal income tax rates going up soon!

Unread postby Tyler_JC » Mon 24 Aug 2009, 17:15:55

Maybe if we didn't have to pay for Europe's defense for the past sixty years we could have used that money to provide health care for the American public?

The EU has been under-investing in its own defense for decades. If that burden were to shift from US taxpayers to European (and Japanese, South Korean, Israeli, etc. etc.) taxpayers, I wonder what the effect would be on social spending.

I know it sounds like a tired old argument but think about it in a historical context. The UK created its NHS in 1948. Would they have been able to afford that program were it not for America's security blanket?

Would Germany have been able to afford its Post WW2 health care were it not for American development aid and the tens of thousands of Americans soldiers standing guard against Soviet invasion?

America's defensive largess freed up money for other countries to invest in health care.

Obviously there was a strategic component to America's overseas military obligations and the primary benefactor of this was always the USA. But the positive spillover effect allowed the rest of the industrialized world to spend money on butter, knowing that the guns were being provided by the Yankees.

Now we've reached the point where Americans want tax cuts, guns, AND butter. We obviously can't afford all three. We couldn't even afford the first two (2001-2009...). If Obama is serious about providing decent health care to every American he is going to have to give something up. Based on the absurdly bloated cost-structure we're dealing with in health care, we'll likely have to raise taxes substantially AND cut defense spending.
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Re: Personal income tax rates going up soon!

Unread postby PrestonSturges » Mon 24 Aug 2009, 21:05:19

EnergyUnlimited wrote:
ian807 wrote:2. In the UK you have to wait to get "free" treatment, however you will either die or end up debilitated for life or get well by forces of Nature if that waiting list is long enough to prevent you from getting timely treatment.
Unfortunately it is often the case.
Length of this infamous NHS waiting list and the very access to large number of high tech, state of the art therapies is also determined by your postal code, eg address of your residence.
Certainly it is far better to live in Essex than in Cornwall in this context and Midlands are also better than Yorkshire.
You can also use private alternative if appropriately insured or wealthy enough.

So take your pick...


Care also depends on where people live in the US, In rural areas, many anonymous people die from cancer without ever getting chemotherapy, because they can't afford it and there are no oncologists..
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Re: Personal income tax rates going up soon!

Unread postby Gerben » Tue 25 Aug 2009, 12:15:27

Tyler_JC wrote:America's defensive largess freed up money for other countries to invest in health care.

I'm now paying taxes to send our boys to Afghanistan to die, while it's not even our war. You Americans should get a clue.
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Re: Personal income tax rates going up soon!

Unread postby Tyler_JC » Tue 25 Aug 2009, 14:22:16

Gerben wrote:
Tyler_JC wrote:America's defensive largess freed up money for other countries to invest in health care.

I'm now paying taxes to send our boys to Afghanistan to die, while it's not even our war. You Americans should get a clue.


Image

And during the Cold War the gap was even larger.

I never said Europe didn't spend money on war. I said they never spent as much money as the US did.
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Re: Personal income tax rates going up soon!

Unread postby EnergyUnlimited » Tue 25 Aug 2009, 15:03:49

Tyler_JC wrote:And during the Cold War the gap was even larger.

I never said Europe didn't spend money on war. I said they never spent as much money as the US did.

Charts like one which you have offered are usually misleading.

$1 spent on military in China or in Russia will probably buy as much as $3 spent in US.

On the other hand nearly every single dollar spent on military in Europe is wasted by bureaucratic process which produces rather paperwork and medals for officials than military hardware or anything remotely useful on the battlefield.
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Re: Personal income tax rates going up soon!

Unread postby Snowrunner » Mon 31 Aug 2009, 22:27:05

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Last edited by Snowrunner on Mon 31 Aug 2009, 22:39:42, edited 1 time in total.
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Re: Personal income tax rates going up soon!

Unread postby Snowrunner » Mon 31 Aug 2009, 22:27:33

Tyler_JC wrote:Maybe if we didn't have to pay for Europe's defense for the past sixty years we could have used that money to provide health care for the American public?

The EU has been under-investing in its own defense for decades. If that burden were to shift from US taxpayers to European (and Japanese, South Korean, Israeli, etc. etc.) taxpayers, I wonder what the effect would be on social spending.


I think you're oversimplifying things here. It was in the US' own interest to have a presence on the continent.

Yes, maybe that would have lead to a "social investment" but you have to look at the speech that Churchill gave in Congress in order for the UK to borrow money. The US Congress did not want to give money, mainly because Churchill wanted to spent money on the NHS, something many in Congress considered a "waste of money" and didn't want to pay for.

Judging by this, I think it is clear to say that even if the US would not have "defended Europe" (read, got itself a military foothold in Europe) it would still not have instituted a "European Style Healthcare System".

I know it sounds like a tired old argument but think about it in a historical context. The UK created its NHS in 1948. Would they have been able to afford that program were it not for America's security blanket?

Would Germany have been able to afford its Post WW2 health care were it not for American development aid and the tens of thousands of Americans soldiers standing guard against Soviet invasion?

America's defensive largess freed up money for other countries to invest in health care.


Germany had a "public health" option that goes back to the late 19th century, it wasn't anything new, it could afford it before the war and it would have put the money back there after. It comes down to where you want to spend the money.

Again, judging by the speech Churchill gave and the information that is now available, the simple reality is that in America it was never considered an "opportune thing to do".

Obviously there was a strategic component to America's overseas military obligations and the primary benefactor of this was always the USA. But the positive spillover effect allowed the rest of the industrialized world to spend money on butter, knowing that the guns were being provided by the Yankees.

Now we've reached the point where Americans want tax cuts, guns, AND butter. We obviously can't afford all three. We couldn't even afford the first two (2001-2009...). If Obama is serious about providing decent health care to every American he is going to have to give something up. Based on the absurdly bloated cost-structure we're dealing with in health care, we'll likely have to raise taxes substantially AND cut defense spending.


Well, you forgot another one: Raise taxes (especially for high-income and corporations), additionally, cutting down on the private option (and only allow supplemental coverage) would cut the cost down heavily, as there would be only ONE buyer for a lot of the expensive drugs etc.

Additionally, it is somewhat ironic that America (and American companies) pride themselves so much in efficeny, but the managment of the American healthcare system is one of the most inefficent systems in the world, not in the least because of the vast amount of different insurers who all cook their own little soup with only slight variations of the recipe.
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Re: Personal income tax rates going up soon!

Unread postby TheDude » Mon 31 Aug 2009, 23:03:20

According to a new survey by KPMG, such an end could be due to the need for new sources of budgetary and stimulus funding among governments.


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