Go Back   Motorcycle Forum > Other > Motorcycle.Com Lounge

Reply
 
Thread Tools
Old 03-18-2010, 08:49 AM   #31
sarnali2
Aging Cafe` Racer

 
sarnali2's Avatar
 
Join Date: Jun 2007
Location: Sittin' down by my window, lookin' at the rain.
Posts: 8,719
Default

I managed to keep my house even after tacking on a $40k second mort. to pay off my ex when i got divorced. It's been a struggle but I've managed to keep my kids in clothes and shoes and get a new bike whenever I wanted. I work a lot of hours to keep up.
__________________
"Carpe` Throttelum -Loud Suits Save Lives"

"He said he's farting because of his medication"...
sarnali2 is offline   Reply With Quote

Sponsored Links Remove Advertisements
Motorcycle Forum
Advertisement
Old 03-18-2010, 10:05 AM   #32
12er
Founding Member
 
12er's Avatar
 
Join Date: Nov 2001
Location: SF
Posts: 2,801
Default

Same here on the qualifying for a loan bs. We qualified 200k higher than I ever intended to spend and subsequently didnt. Our Mortgage is comparable to if we were to rent it out even after the drop.

Additionally let me correct my ignorant post above, Seru was referring to Nancy's bs and I had the supposed 51 votes in the senate for the public option in mind when I responded with the reconciliation post. Neither of which I see happening...

As for how do tax cuts get us into this mess? Well lets see, start two wars while dropping income and borrow to pay for it. Or am I on glue?

Last edited by 12er : 03-18-2010 at 10:08 AM.
12er is offline   Reply With Quote
Old 03-18-2010, 10:19 AM   #33
seruzawa
The Toad

 
seruzawa's Avatar
 
Join Date: Nov 2001
Location: 8501 ft.
Posts: 17,461
Default

Quote:
Originally Posted by 12er View Post
Same here on the qualifying for a loan bs. We qualified 200k higher than I ever intended to spend and subsequently didnt. Our Mortgage is comparable to if we were to rent it out even after the drop.

Additionally let me correct my ignorant post above, Seru was referring to Nancy's bs and I had the supposed 51 votes in the senate for the public option in mind when I responded with the reconciliation post. Neither of which I see happening...

As for how do tax cuts get us into this mess? Well lets see, start two wars while dropping income and borrow to pay for it. Or am I on glue?
Not glue... kool aid. heh heh. Just kidding.

At the current tax rates lowering income taxes would result in an increase in revenue. To keep it simple the maximum % of revenue the govt at all levels can collect is around 25%. When total tax rates go above 25% of GDP revenues decline. People quit working, won't work overtime, find more ways to avoid taxes, etc. It sort of seems magical but the revenue vs tax rates data supports it. An economy is a dymanic entity. Doubling taxes doesn't double revenue. It can cut revenue in half. Kennedy and Reagan and Coolidge increased revenue and general prosperity by reducing the top income tax rates.

One would have thought that things like govt "fees" would be exempt. However years ago Grey Davis in California doubled the car taxes at one time on the "guarantee" that the extra $ would plug the State's deficit. When the numbers came in 6 months later the State's revenue had gone down. Later Schwartzenegger canceled the increase and revenue went up a bit. Weird, but the public are smarter than politicians and govt officials (includes college professors). Never forget that. The public is always smarter than the govt.
__________________
"Make no mistake, Communism lost a big argument - one we know today as the 20th century."
seruzawa is offline   Reply With Quote
Old 03-18-2010, 10:25 AM   #34
schizuki
Founding Member
 
schizuki's Avatar
 
Join Date: Nov 2001
Posts: 5,030
Default

Thank you, Seruzawa. You saved me a sh!tload of typing.

People automatically equate tax rates with revenue. That's not how it works. Lower rates can (and do) increase total revenue.

But if the gummint then spends the increased revenue, and more, you get deficits.
__________________
Reverēre meam auctōritātem

Bill Clinton and Chuck Schumer are praising the Supreme Court for overturning an anti-gay-marriage law that they both signed.
schizuki is offline   Reply With Quote
Old 03-18-2010, 10:35 AM   #35
12er
Founding Member
 
12er's Avatar
 
Join Date: Nov 2001
Location: SF
Posts: 2,801
Default

Thats the same time of the .com crash and we've been sinking faster ever since. Also the same time Enron was jacking us around and we had the lovely rolling blackouts. Though you may be looking at some data i'm not aware of. The car tax though was the main thing that got Arnie in there and we all can see how well that's worked out.
12er is offline   Reply With Quote
Old 03-18-2010, 10:40 AM   #36
12er
Founding Member
 
12er's Avatar
 
Join Date: Nov 2001
Location: SF
Posts: 2,801
Default

Granted it would all be moot if any administration could run on what they have.
12er is offline   Reply With Quote
Reply


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off