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Toto deVeer

How Will America Elimate Unfunded Pension Liablilities?

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Tea Party Take 1.

In addition to calling for the abolishing of America's insolvent "welfare state" regime (and not to mention the Fed), Ron Paul floats the idea of allowing Americans to opt out of payroll tax in exchange for never receiving Social Security benefits. As the SSA will be pretty much insolvent in a few years, and not provide any benefit to anyone soon thereafter, this seems like a reasonable trade off.

Good-bye nanny state, hello Brave New World....

zerohedge.com

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I usually have 'time' for Ron Paul, but WTF?

If they did that then how would poor people even eat, I bet the fitter ones will steal causing a massive spike in crime levels! But hang on, maybe they wan't to fill their privatly run prisons up with inmates so they can pay them a dollar an hour to make cheap goods. Who gets the profits, someone who is backing the republicans I bet!

The older I get, the more I realise that the USA is one of the most vile countries on this planet.

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I usually have 'time' for Ron Paul, but WTF?

If they did that then how would poor people even eat, I bet the fitter ones will steal causing a massive spike in crime levels! But hang on, maybe they wan't to fill their privatly run prisons up with inmates so they can pay them a dollar an hour to make cheap goods. Who gets the profits, someone who is backing the republicans I bet!

The older I get, the more I realise that the USA is one of the most vile countries on this planet.

Let's see how this develops.

Paul believes that income taxes are unconstitutional (indeed they are, but it's not been challenged since the Federal Reserve was created, wonder why?). He's trying to put a wedge in it by offering Americans the chance for voluntary withdrawal. The US operated successfully for 100 years based upon indirect taxation and capital gains tax only (tariffs, sales tax, cap gains). He knows that the welfare/warfare/central bank is a complex that has to be attacked if the US is to reduce it's budget. Giving people to ability to opt out then leads to the possibility to close down large sections of government. The ultimate goal is to remove the power of the FED and the shut down the Revenue. Imagine how much money that could save the taxpayer? And the best way to stop the imprisonment (which I agree is a problem) is to starve the government of money. For example the department of Homeland Security has grown from zero in 2002 to 250,000 employees. Obama is planning to hire 18,000 for the Revenue. Health bill is going to require a huge new bureaucracy. Then you have the CIA, NSA, FBI and that is just at the Federal level. At the state level you have the SBI, Sheriffs, City Police, etc. It's all got to be shut down and rebuilt. There's just no money.

Paul is right to say "either we do this now or it all collapses and then it doesn't matter anymore, no one will bother paying in anyway".

China's income tax in the development regions (Hong Kong/Shanghai/Guang Zhou etc) is about 5% for most people. They are a 'communist' country. Compare that to the 'free' US which is about 30% for most people.

He also wants to introduce competing currency. This is to take away the power that the FED has over the US and the world.

The only way for the US to turn the corner is to cut the Federal government by at least half. Give people the right to opt out, and then you have a mandate to cut the associated government accordingly. One step at the time.

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The problem isn't taxation or the poor... the problem is house prices.

When will people get this into their think skulls.

High house prices push up the cost of production which causes production to mve away which make people jobless which makes them dependant upon the state.

Removing the ability for the state to support them just leaves lots of people with no way to support themselves.

The cause was high house prices, not the state stopping people starving to death.

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China's income tax in the development regions (Hong Kong/Shanghai/Guang Zhou etc) is about 5% for most people. They are a 'communist' country. Compare that to the 'free' US which is about 30% for most people.

Table of Income Tax Rates in for an Individual in 2010

Tax % Monthly Income (CNY)

5% 1 - 500

10% 501 - 2,000

15% 2,001 - 5,000

20% 5,001 - 20,000

25% 20,001 - 40,000

30% 40,001 - 60,000

35% 60,001 - 80,000

40% 80,001 - 100,000

45% 100,001 and above

But the effective rate is 5% or less as most cooked up expenses and hide income.

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I usually have 'time' for Ron Paul, but WTF?

If they did that then how would poor people even eat, I bet the fitter ones will steal causing a massive spike in crime levels! But hang on, maybe they wan't to fill their privatly run prisons up with inmates so they can pay them a dollar an hour to make cheap goods. Who gets the profits, someone who is backing the republicans I bet!

The older I get, the more I realise that the USA is one of the most vile countries on this planet.

The US as a superpower has its problems but think of the alternatives; China (sweatshops, child labour) India (caste system) Russia (stalinist nostalgics) the Islamic world (dont even want to think about that one)

Best of a bad bunch imo.

Most of the Republican donors are democrat donors too, two sides of the same coin.

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Table of Income Tax Rates in for an Individual in 2010

Tax % Monthly Income (CNY)

5% 1 - 500

10% 501 - 2,000

15% 2,001 - 5,000

20% 5,001 - 20,000

25% 20,001 - 40,000

30% 40,001 - 60,000

35% 60,001 - 80,000

40% 80,001 - 100,000

45% 100,001 and above

But the effective rate is 5% or less as most cooked up expenses and hide income.

Is this true of places such as Hong Kong? I read that the 'special economic zones' had a completely different tax regime from the rest of the country...

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The problem isn't taxation or the poor... the problem is house prices.

When will people get this into their think skulls.

High house prices push up the cost of production which causes production to mve away which make people jobless which makes them dependant upon the state.

Removing the ability for the state to support them just leaves lots of people with no way to support themselves.

The cause was high house prices, not the state stopping people starving to death.

No one else has taken a stab at this so I will.

The welfare state puts a floor on house prices. Look at all the whining by Boris Johnson. He knows that if benefits are cut then house prices in London will fall.

Government subsidies of any kind always distort the market. This is the major issue with healthcare in the US. Prices were quite reasonable and the standard was high until Medicare was introduced in the 1960's. Then it became the most expensive in the world.

Same is true of benefits generally. There is such a high threshold for benefits that people are better off not working, in many cases. Benefits also act as a subsidy that creates cheap labour as well, on the backs of the tax payer.

The whole problem stems from the redistribution of wealth. It makes no sense for governement to collect large sums of money and then to use it to prop up certain market sectors, like housing. And for those people on the bottom rung of the economic ladder, far better to just eliminate the middle man and dramatically raise the taxation threshold, so that they can keep more of what is earned.

When Federal Tax was first introduced in the US it was only 3% levied on the very highest earners only (even though it is unconstitutional to put a tax on income in the US).

Edited by Toto deVeer

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I usually have 'time' for Ron Paul, but WTF?

If they did that then how would poor people even eat, I bet the fitter ones will steal causing a massive spike in crime levels! But hang on, maybe they wan't to fill their privatly run prisons up with inmates so they can pay them a dollar an hour to make cheap goods. Who gets the profits, someone who is backing the republicans I bet!

The older I get, the more I realise that the USA is one of the most vile countries on this planet.

No, that would be the PRC where they just cleanse the excess population every now and then. 26 million under Dear Leader Mao.

Maybe time for the Fourth Reich to invade Poland again and set off another culling season? They seem to have this down to a fine artr in East Africa where they hold a "cvili war" every decade to reduce the excess population.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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