In response to:

Taxing the Poor

Zdravko Wrote: Dec 12, 2012 7:58 AM
When the silver coin of the Roman Empire contained only 2% of silver instead of 98% - that was the end of that empire after 1,000 years of existence. When the German one-trillion mark bill could not buy a roll of toilet paper – that was the end of the Weimar Republic, with Hitler coming up shortly after. When the British one pound sterling meant one pound of 98% fine silver, and then fell to a peace of paper – that was the end of the British Empire after 250 years. Less than a hundred years ago a $20 bill meant one ounce of gold, then transformed itself into a vague promise of unknown quantity of silver, and now finally into just a piece of paper with a rapidly falling value – that is already ordained to be the end of the American century.
Scrap Iron in Texas Wrote: Dec 12, 2012 8:03 AM
Interesting side note.
An ounce of gold bought 100 years ago about the same amount of goods that an ounce of gold buys today.
Scrap Iron in Texas Wrote: Dec 12, 2012 8:05 AM
Oops, bad grammar.

Interesting side note.
An ounce of gold 100 years ago, bought about the same amount of goods as an ounce of gold buys today.
magnetar Wrote: Dec 12, 2012 8:37 AM
yup, same with Silver. John Adams paid 800 pound sterling for his 80 acre Peaceville farm in western Massachusets. Today you can buy a similar acreage farm for about the same price in Mass, VT or NH.
Kurt114 Wrote: Dec 12, 2012 9:33 AM
It isn't that expensive to convert a little cash each month to silver or fractional gold.

The additional taxes about to be leveled on businesses will be paid for by consumers. The taxes will be factored into higher prices. Higher prices will reduce sales, so businesses will be compelled to pay less for labor. Consumers will pay the higher prices, and a portion of that purchase price will be transferred by the business to the government. Spending power will contract. The economy will contract. Overall tax revenue will drop. Morons in charge.
magnetar Wrote: Dec 12, 2012 10:32 AM
simple isn't it? the commies know it and they count on it. They want civil unrest and riots.
magnetar Wrote: Dec 12, 2012 10:32 AM
simple isn't it? the commies know it and they count on it. They want civil unrest and riots.

With all the talk about taxing the rich, we hear very little talk about taxing the poor. Yet the marginal tax rate on someone living in poverty can sometimes be higher than the marginal tax rate on millionaires.

While it is true that nearly half the households in the country pay no income tax at all, the apparently simple word "tax" has many complications that can be a challenge for even professional economists to untangle.

If you define a tax as only those things that the government chooses to call a tax, you get a radically different picture from...