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[#] Wed Jul 04 2012 19:31:34 EDT from Ladyhawke

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Happy 4th of July to my fellow Americans!  And I suppose to the British, who by now are probably pretty damned glad they got rid of us back then.....



[#] Thu Jul 05 2012 09:08:41 EDT from IGnatius T Foobar

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And to think, we fought a war of independence to escape taxes that were a tenth of what the current regime now levies.

[#] Thu Jul 05 2012 12:46:15 EDT from arabella

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Thu Jul 05 2012 09:08:41 AM EDT from IGnatius T Foobar
And to think, we fought a war of independence to escape taxes that were a tenth of what the current regime now levies.

Nyah! Nyah!



[#] Thu Jul 05 2012 13:55:53 EDT from fleeb

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Happy Higg's Boson Day, one day late.

[#] Thu Jul 05 2012 14:35:07 EDT from Ladyhawke

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<laughs>

Well, I wouldn't be so quick to give Bella her belly laughs....unless you know what *their* tax rates are like today.  ;-)

 

Fleeb,

That was pretty exciting news, actually.  Though they seem to be somewhat cagey in stating it definitively....



[#] Thu Jul 05 2012 16:56:50 EDT from fleeb

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Eh, that's physicists for you.

Statistically, it's still possible that they're wrong, just extremely unlikely.

[#] Thu Jul 05 2012 17:40:29 EDT from wizard of aahz

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<drinks red bull>

Was falling asleep at computer. Hate it when that happens.

[#] Thu Jul 05 2012 18:14:11 EDT from triLcat

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I think UK's sales tax is like 20%, but it's called VAT.

Even ours is lower. It's been 16% for a while, but now it's going back up to 17%. Oh frabjous day!

It does seem unfair that after the country takes over a third of your salary, they then turn around grab another 17% from everything you buy, including food.

 



[#] Thu Jul 05 2012 18:15:49 EDT from Ladyhawke

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<sends the Big Bang to Aahz's house>

There.  That should help.



[#] Fri Jul 06 2012 00:40:33 EDT from ax25

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Love the comments on an electric car. Just wanted one because I graduated with a BS in EE and figured I could actually work on a car like that (and be a motorhead like I wished I could have been back in the 80's, but could not understand
carberators!).
I also liked the short Higgs mention. Would someone that knows physics well enough start a room for folks that know a little bit? I passed modern physics classes, but would love it if we had a non condescending Neil Degrasse-Tyson around that
would help the masses out.

[#] Fri Jul 06 2012 11:16:06 EDT from Ladyhawke

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Thu Jul 05 2012 06:14:11 PM EDT from triLcat

I think UK's sales tax is like 20%, but it's called VAT.

Even ours is lower. It's been 16% for a while, but now it's going back up to 17%. Oh frabjous day!

It does seem unfair that after the country takes over a third of your salary, they then turn around grab another 17% from everything you buy, including food.

 



Ouch.  What's the rest of the structure like, though....income, re, etc.?  Just wondering what other folks deal with.



[#] Fri Jul 06 2012 12:44:55 EDT from IGnatius T Foobar

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Consumption based taxes have been talked about in the US. It's a good idea, but implementing it here would be *very* dangerous. The problem is that income taxes would need to be *permanently* eliminated as a prerequisite to the introduction of a consumption tax ... otherwise it would be inevitable that a future taxation-happy set of legislators would skyrocket *both* of them.

As it is, we are about to get smacked with one of the biggest tax hikes in history (conveniently scheduled to take place *after* those who voted for it are up for re-election).

[#] Fri Jul 06 2012 13:08:02 EDT from Ladyhawke

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Surprised Congress hasn't figured out yet how to exempt themselves from sales and income taxes the way they have from various investment requirements or standard healthcare options.



[#] Fri Jul 06 2012 16:06:36 EDT from arabella

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For the average Joe/Joanne Income tax is 20%, then there is "National Insurance" which is 12% (both calc'd on the gross figure, tax is only paid above a threshhold, but N.I. is payable by all earners.)

 

National Insurance covers things like the N.H.S. and the State Pension, while Income Tax, is for well, who knows?  the military, civil service, and whatever else the Govt. sees fit...

 

Then there's Road Fund Licence, an annual tax paid on cars, buses, and trucks. This varies depending on a set of criteria (emissions, engine size, etc)

 

Stamp Duty, is a tex on the purchase price of a house. There are more, and increasingly complex taxes, but remember, the wealthy, can usually minimise their tax liability using loop-holes, and clever accountants.



[#] Fri Jul 06 2012 21:09:01 EDT from Ladyhawke

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Hmm.  LS and Rag have much better heads for the #s than I.  But simplistically, it doesn't sound all that much different from here once it's all added up, aside from the 20% VAT....



[#] Fri Jul 06 2012 21:32:14 EDT from zooer

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Consumption based taxes have been talked about in the US. It's a good
idea, but implementing it here would be *very* dangerous. The problem


I don't think it would happen because people would never understand how it works. Not to mention all the IRS agents, all the tax
preparers and tax lawyers would be out of a job.

[#] Sat Jul 07 2012 23:32:42 EDT from Ladyhawke

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Fri Jul 06 2012 09:32:14 PM EDT from zooer
Consumption based taxes have been talked about in the US. It's a good
idea, but implementing it here would be *very* dangerous. The problem

I don't think it would happen because people would never understand how it works. Not to mention all the IRS agents, all the tax
preparers and tax lawyers would be out of a job.

And this would be differeent from today?  ;-)



[#] Mon Jul 09 2012 16:55:25 EDT from athos-mn

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I know it's playing with semantics, but I honestly can't see why, when a tax cut is written into law as temporary, letting them expire is called a tax hike, when in reality it's just an expiration; the tax equivalent of the "one week sale" signs going down.

[#] Mon Jul 09 2012 18:11:54 EDT from zooer

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It is the same thing when budgets don't get increased they call it a cut. It is really just the same budget as the previous
year.

[#] Tue Jul 10 2012 14:19:01 EDT from wizard of aahz

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Cause this way people can make things look how they want them to look and there are enough stoopid people to beleive them.

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