OT Imagine

[R.I.D.E.]

Liquidate AIG and watch what happens to all those destroyed homes on the Gulf Coast.

Every billion spent equals about $8 per income tax return filed (about 138 million).

$700 billion divided by 138 million= $2400 per tax return filed.

10 trillion = 10,000 X 1 Billion= $80,000 of govt debt accrued per taxpayer.

About $32,000 per citizen

$128,000 for a family of 4

10 trillion could be paid by total confiscation of all the wealth of 10 million millionaires.

Then we would be left with the idiots spending another 400 billion we dont have every year.

regards
gary

[bowtieguy]

Originally Posted by Snax

...clearly the fault for the this debacle can be laid just about everywhere.

very true: uninformed(or insatiable) consumers, corrupt gov't, greedy corps...

oh what a taggled web we weave on a great many things!

[bowtieguy]

Originally Posted by R.I.D.E.

One out of 3 people in this country actually file tax returns. They are the source of revenues for govt operations and they will be the ones who foot the bill.

this could be THE best argument for the fair tax. you guys know i hate taxes, specifically raising them and/or creating new ones.

the fair tax would MAKE illegals, new foreign business owners, those paid under the table, and the rich w/ fancy lawers and accountants ACTUALLY PAY THEIR FAIR SHARE OF TAXES! but, certainly all levels of gov't would fight for their fair share(all hands in one bucket).

Snax is correct when he says conservation is better than finding more of the same resource, in this case, credit. where would we be if everyone paid taxes and practiced conservation(especially gov't)?

of course, you could make the argument that families like mine de-stimulate the economy...we have no debt outside of a very small mortgage.

[Dalez0r]

[Jay2TheRescue]

The only way to do this would be with a national sales tax. You can make all the money you want, but when you spend it you're paying tax. Personally, I say tax everything but clothing items under $100, food, and perscription drugs. If you buy food for your family its tax free. Buy medicine for your family's health care, that's tax free. Clothes (under $100), same thing. Want to go out and buy a new iPod? Pay the Nat'l tax. Simple, and everyone pays their fair share. No hiding income from the Gov't, because they will get theirs when you spend it.

-Jay

EDIT: I just reread this and figured I'd make this more clear. The nat'l sales tax will come with vast reductions in mountains of tax code, forms, and less people in the IRS to oversee it.

-Jay

[Rayme]

Originally Posted by R.I.D.E.

What would to the economy if the govt returned 700 billion to the taxpayers.

regards
gary

how would the government return 700 billion to the taxpayers?

The government doesn't have 700 billions, its loaned money, the taxpayers would have to repay that plus interest. (oh wait, they will).

[Jay2TheRescue]

The same way they pay back all the borrowing they do from the social security fund. They replace the money with a worthless bond that the only way it could be paid is to raise taxes again.

-Jay

[GasSavers_JoeBob]

Um...(along with the bad math...what a hoot!) I may be out of turn asking this, but...why is this in the General Fuel Economy Discussion zone?

Oh, well...at least they passed the production tax credit along with this bill...those of us in renewable energy are OK for at least another year (yay!)

[Jay2TheRescue]

Man, we've really taken this OT. What were we originally talking about?

-Jay

[theholycow]

Originally Posted by R.I.D.E.

10 trillion = 10,000 X 1 Billion= $80,000 of govt debt accrued per taxpayer.

When did "10 trillion" join the discussion?

Originally Posted by Jay2TheRescue

Man, we've really taken this OT. What were we originally talking about?

We were originally talking about this:

Originally Posted by R.I.D.E.

What would to the economy if the govt returned 700 billion to the taxpayers.

Maybe a moderatore can move this thread to a more appropriate area.