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 Post subject: Washington State residents and Sales Tax, other states too.
PostPosted: Thu May 29, 2008 6:34 pm 
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Joined: Wed Nov 23, 2005 6:51 am
Posts: 372
Location: Seattle
I don't have a link, but in July companies that sell on the Internet will start charging sales tax. Google it and find more than I can link to.

This is going to add 9% to everything I buy on the net. It might as well be an even 10%. I suppose it is only right and fair, but of course that doesn't mean I like it. I wish WA had a state income tax if it would not increase the amount of taxes I pay now. But, I think we all know that if WA State instituted an income tax that total taxes would go up.
In other news today Dow Chemical announced they were no longer going to be a "shock absorber" for the economy. That is they were no longer going to absorb the increased energy costs they have been paying without passing them on. They announced they were immediately increasing their prices by 20%. They make a myriad of products that are used by most everyone every day.
So you see where I am going with this? Prices are rising on everything, and rising fast! In the midst of a recession. And I believe we are in a recession even if the Bush administration doesn't want to admit it. If nothing else they are measuring the US economy as a whole, and I can tell you that my local economy is in recession, has been for a while, and will be for the foreseeable future.
Welcome to Stagflation in the 21st Century(TM)

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PostPosted: Fri May 30, 2008 1:05 am 
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Location: St Louis (county) Missouri USA
Frankly I'd rather see sales taxes (consumption taxes) go up, than property taxes for instance. I paid sales taxes on my car when I bought it.....why should I have to continue to pay an ownership tax on the thing every year? I think sales taxes provide a fairer way to raise money for the state......everybody pays the same percentage when they buy things (equality). Same with income taxes..... why should one man pay a higher percentage of taxes than another? If you earn more money you will still be paying more taxes.....but the tax percentage will be the same for all ( a flat tax=equality).

This is a difficult subject, and your attitudes on it will probably change as you grow older, start making more money, and acquire more property.

Recession/Depression.......only words to describe the state of the current economy, which is heading downhill because of the USA's apparent refusal to produce it's own energy. We've seen this coming for decades, but have been unwilling to do anything about it. We simply need more of our own oil and coal dug up and used.....

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 Post subject:
PostPosted: Fri May 30, 2008 1:21 am 
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Joined: Tue Sep 20, 2005 6:55 am
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Location: UK
Quote:
the state of the current economy, which is heading downhill because of the USA's apparent refusal to produce it's own energy.


certainly high energy prices aren't helping, but I think you'll find the current downturn is rather more to do with the collapse of the credit bubble that has been sustaining the US economy since the dotcom bust. anyway, this is material for the off-topic, so I'll leave it there.

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 Post subject:
PostPosted: Tue Mar 03, 2009 6:39 am 
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Joined: Tue Nov 04, 2008 6:03 am
Posts: 367
Location: Sweden
Bluefront wrote:
Frankly I'd rather see sales taxes (consumption taxes) go up, than property taxes for instance.
... I think sales taxes provide a fairer way to raise money...
... If you earn more money you will still be paying more taxes.....but the tax percentage will be the same for all ( a flat tax=equality).
I have the very opposite point of view.

Sales taxes are IMO inherently bad, and here in Sweden it's 25% on almost everything!
It's bad in two ways:
- First it dampens consumption and economic growth, which is bad for the society. You simply can't afford as much as without the sales tax.
- Second it's very unequal! Sure, low income consumer A will pay just as much tax as high income consumer B when spending the same amount. But if you compare taxes as a percentage of income you'll find that people with low income spend just about all of it, and then have very little left. Food, fuel and rents leave no net value. At 10% sales tax they pay 10% sales tax on their entire income. High income people, on the other hand, spend less than their full income in the first place. The things they spend money on also keep a higher value, so in practice they pay more like 5% sales tax on their income.

Property tax, on the other hand, is good for the society!
Money not spent reduce the general demand for products and services, which is a bad thing! (What is best for company X: Me spending $10,000 buying a portion of their stocks on the stock market, or me spending $10,000 to buy their products? I'd say the company will be more prosperous from the latter, actually gaining an income.)

General income tax falls somewhere in-between. To me it's a necessary evil, since it's so much easier to quantify than the absolute and correct value of property.
As I'd like to express it, somewhat exaggerated: If you're unable to spend your income, you earn too much!

Cheers
Olle


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PostPosted: Sat Apr 03, 2010 3:18 pm 
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Joined: Thu Feb 04, 2010 6:06 pm
Posts: 3395
Location: US
For thousands of years the Sovereign, whether it be the Pharaoh or democratically elected representatives, have taxed approximately 40 to 60 of total production in the economy.

They do it because they can, and because they must. If they don't maintain a strong enough army, someone will take away from them the privilege of taxing.

Somewhere around 60% they reach the law of diminishing returns. At 60% or more, increased taxes decrease total tax revenues.


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