In a Recession: Raise Taxes /boggle

2009-02-28 20:18:32

#1

Harmor: Error_Name_Not_Found; +605|6851|San Diego, CA, USA

Here in California they just raised the sales tax 1%, Income Tax 0.25%, doubled the fee to register your car (0.65% to 1.215%), and a bunch of other fees.

(Source: http://www.taxfoundation.org/blog/show/24341.html)

You can't get your state tax refund (Source: http://www.ftb.ca.gov/refund_delay_2008.shtml)

Here's the silver lining:
First come first serve, you can get $10,000 tax credit for a new home (Source: http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml)

I guess the only people who can't cut back in a recession is government when it comes to spending.

2009-02-28 20:20:15

#2

Scorpion0x17: can detect anyone's visible post count...; +691|7069|Cambridge (UK)

where did you think they were going to get the bailout money from exactly?

2009-02-28 20:38:06

#3

Turquoise: O Canada; +1,596|6708|North Carolina

Scorpion0x17 wrote:
where did you think they were going to get the bailout money from exactly?

Well, I see what you're saying, and while many state governments have done their own bailouts, the majority of bailout funds have come from our federal government, not state ones.

This money will be going to the California state government, not the feds.

2009-02-28 20:48:17

#4

Scorpion0x17: can detect anyone's visible post count...; +691|7069|Cambridge (UK)

Turquoise wrote:
Scorpion0x17 wrote:
where did you think they were going to get the bailout money from exactly?
Well, I see what you're saying, and while many state governments have done their own bailouts, the majority of bailout funds have come from our federal government, not state ones.

This money will be going to the California state government, not the feds.

Because there are no links what-so-ever between state and fed income and spending...

2009-02-28 21:13:13

#5

Turquoise: O Canada; +1,596|6708|North Carolina

Scorpion0x17 wrote:
Turquoise wrote:
Scorpion0x17 wrote:
where did you think they were going to get the bailout money from exactly?
Well, I see what you're saying, and while many state governments have done their own bailouts, the majority of bailout funds have come from our federal government, not state ones.

This money will be going to the California state government, not the feds.
Because there are no links what-so-ever between state and fed income and spending...

Well, I don't know how your government works, but there is a very firm separation of state spending and federal spending in the U.S.

Eventually, the federal government will need to raise taxes to pay for these bailouts, but this is a separate issue from what California is doing.

If I'm not mistaken, California is experiencing a budget shortfall like the feds are, and while raising taxes probably is inevitable, several other questions have arisen like why the California government isn't cutting spending.

2009-02-28 21:48:09

#6

Harmor: Error_Name_Not_Found; +605|6851|San Diego, CA, USA

Turquoise wrote:
... several other questions have arisen like why the California government isn't cutting spending.

Democrats 51
Republicans 29
1 liberal Republican Governor...priceless.

Source: http://www.assembly.ca.gov/clerk/MEMBER … rdir_1.asp

2009-02-28 21:54:09

#7

Flaming_Maniac: prince of insufficient light; +2,490|7010|67.222.138.85

Scorpion0x17 wrote:
where did you think they were going to get the bailout money from exactly?

From tax increases in a post-recession economy.

2009-02-28 21:57:24

#8

nativejam: Member; +17|5845|Australia

It seems strange but the Australian government after spending about $56 billion in bailouts will be possibly going into debt for the first time in like 12 years. Plus i have family in the US, that are feeling the crunch. It sucks that Cali is raising the taxes, which from an economists point of view is just stupid, given the current state of the economy.

2009-02-28 22:25:05

#9

SealXo: Member; +309|6839

you forgot gas tax going up 12 cents

2009-02-28 22:29:03

#10

Kmar: Truth is my Bitch; +5,695|6904|132 and Bush

Charities are going to be hurt also. The deductions have been reduced.

Xbone Stormsurgezz

2009-02-28 23:44:52

#11

DrunkFace: Germans did 911; +427|6984|Disaster Free Zone

States have income and sales tax? lol

2009-03-01 01:58:15

#12

Flecco: iPod is broken.; +1,048|6968|NT, like Mick Dundee

nativejam wrote:
It seems strange but the Australian government after spending about $56 billion in bailouts will be possibly going into debt for the first time in like 12 years.

It's to be expected. Private sector spending was massive during the Howard years thanks to the Mineral Boom. Rudd Govt. has to pick up the slack now that the spending has fallen off.

What I don't agree with is how they are spending it. You don't tell a man who has $100,000 in debt to fix his garage to help earn the money back. We need to boost exports, not dump money into school buildings.

@ the US citizens...

Shit you guys seem to have a lot of taxes.

Whoa... Can't believe these forums are still kicking.

2009-03-01 04:41:08

#13

AussieReaper: ( ͡° ͜ʖ ͡°); +5,761|6456|what

Flecco wrote:
We need to boost exports, not dump money into school buildings.

Can't do that chief, the drop in exports is due to a drop in demand cause everywhere else is in recession.

2009-03-01 05:31:11

#14

Flecco: iPod is broken.; +1,048|6968|NT, like Mick Dundee

AussieReaper wrote:
Flecco wrote:
We need to boost exports, not dump money into school buildings.
Can't do that chief, the drop in exports is due to a drop in demand cause everywhere else is in recession.

Agricultural sector is doing better with the dead Aussie dollar. Tax dollars can also go into projects which will boost exports in the future. The goal of upgrading school buildings is a good one but there should be more concern with what is happening IN the classes than outside them.

Whoa... Can't believe these forums are still kicking.

2009-03-01 06:57:09

#15

Turquoise: O Canada; +1,596|6708|North Carolina

DrunkFace wrote:
States have income and sales tax? lol

Yes, because the separation of powers in our governments essentially require it.

Granted, some states have no income tax, and others have no sales tax. There are even 1 or 2 states that have neither.

On the other hand, local governments sometimes have a sales tax and income tax as well. Also, local governments are the ones who enforce property taxes.

2009-03-01 10:24:21

#16

Harmor: Error_Name_Not_Found; +605|6851|San Diego, CA, USA

https://img22.imageshack.us/img22/3976/stateincometaxes200955k.png

Income
Tax Rate
@ $55k State
===== =========
0.00% Alaska
0.00% Florida
0.00% Nevada
0.00% South Dakota
0.00% Texas
0.00% Washington
0.00% Wyoming
2.00% Alabama
3.00% Illinois
3.07% Pennsylvania
3.40% Indiana
3.92% North Dakota
4.11% Ohio
4.24% Arizona
4.35% Michigan
4.63% Colorado
4.75% Maryland
4.90% New Mexico
5.00% Connecticut
5.00% Mississippi
5.00% New Hampshire
5.00% Utah
5.30% Massachusetts
5.50% Oklahoma
5.53% New Jersey
5.55% Delaware
5.75% Virginia
5.80% Kentucky
6.00% Georgia
6.00% Louisiana
6.00% Missouri
6.00% Tennessee
6.00% West Virginia
6.45% Kansas
6.50% Wisconsin
6.84% Nebraska
6.85% New York
6.90% Montana
7.00% Arkansas
7.00% North Carolina
7.00% Rhode Island
7.00% South Carolina
7.05% Minnesota
7.20% Vermont
7.80% Idaho
7.92% Iowa
8.25% Hawaii
8.50% Maine
9.00% Oregon
9.55% California (adjusted)

Source: http://www.taxfoundation.org/taxdata/sh … s-20090106

Last edited by Harmor (2009-03-01 10:42:39)

2009-03-01 10:38:19

#17

Turquoise: O Canada; +1,596|6708|North Carolina

That chart is slightly misleading, since some states have bracket systems for their income taxes, like my state.

In North Carolina, the state income tax starts at 6% and goes up to 8.25%.

2009-03-01 10:44:04

#18

Harmor: Error_Name_Not_Found; +605|6851|San Diego, CA, USA

Turquoise wrote:
That chart is slightly misleading, since some states have bracket systems for their income taxes, like my state.

In North Carolina, the state income tax starts at 6% and goes up to 8.25%.

Yeah I noticed that too...but I choose $55k/year as a median income.

According to http://en.wikipedia.org/wiki/Household_ … ted_States

$55,331 is the lowest 4/5th of Household Income in the United States.

Last edited by Harmor (2009-03-01 10:46:43)

2009-03-01 10:49:00

#19

kylef: Gone; +1,352|6796|N. Ireland

Why not, we're doing the exact opposite of what we used to do in recessions - we're spending less and saving more.

2009-03-01 10:51:36

#20

Harmor: Error_Name_Not_Found; +605|6851|San Diego, CA, USA

kylef wrote:
Why not, we're doing the exact opposite of what we used to do in recessions - we're spending less and saving more.

Saving is not bad...when you save your bank has more money to lend...and supposedly they then lower interest rates. Problem is banks aren't lending atm until they get all these bad loans off their books.

2009-03-01 11:39:45

#21

KEN-JENNINGS: I am all that is MOD!; +2,983|6935|949

How fucking hard is it to balance a budget? You don't spend more than you earn. What the fuck, every responsible person knows how to and must balance their own personal budget. This kind of action just shows how much politicians are not held accountable. Remember when we elected Arnie under his promise of balancing the budget?

2009-03-01 16:23:08

#22

Warhammer: Member; +18|5983

KEN-JENNINGS wrote:
How fucking hard is it to balance a budget? You don't spend more than you earn. What the fuck, every responsible person knows how to and must balance their own personal budget. This kind of action just shows how much politicians are not held accountable. Remember when we elected Arnie under his promise of balancing the budget?

Arnold = liberal Republican. If California had elected Tom McClintock they would of had a better chance in that state, yet they keep electing liberal governors.

2009-03-01 16:25:30

#23

Flaming_Maniac: prince of insufficient light; +2,490|7010|67.222.138.85

KEN-JENNINGS wrote:
How fucking hard is it to balance a budget? You don't spend more than you earn. What the fuck, every responsible person knows how to and must balance their own personal budget. This kind of action just shows how much politicians are not held accountable. Remember when we elected Arnie under his promise of balancing the budget?

It's extremely difficult if you want to get re-elected.

2009-03-01 18:08:02

#24

ATG: Banned; +5,233|6832|Global Command

Business and families start with how much money they have and figure out how to spend it and what they can afford.

Government starts with how much they want to spend and then tax and borrow their way to the number.

Now Arnold is declaring an emergency and says we have to redo the whole water system. Meanwhile, that wasn't in the last budget. And there has been good rain this year and the snow pack is normal.

I hate them all and expect rage to continue to build against these parasites.

2009-03-01 20:25:20

#25

Scorpion0x17: can detect anyone's visible post count...; +691|7069|Cambridge (UK)

Turquoise wrote:
Scorpion0x17 wrote:
Turquoise wrote:

Well, I see what you're saying, and while many state governments have done their own bailouts, the majority of bailout funds have come from our federal government, not state ones.

This money will be going to the California state government, not the feds.
Because there are no links what-so-ever between state and fed income and spending...
Well, I don't know how your government works, but there is a very firm separation of state spending and federal spending in the U.S.

Eventually, the federal government will need to raise taxes to pay for these bailouts, but this is a separate issue from what California is doing.

If I'm not mistaken, California is experiencing a budget shortfall like the feds are, and while raising taxes probably is inevitable, several other questions have arisen like why the California government isn't cutting spending.

But, am I not correct in thinking that a large proportion of an individual state's budget comes from the federal government, with a smaller proportion being raised through local taxation?

And, if this is the case, do you think that federal money is going to increase or shrink in the current and future economic climate?

BF2S Forums In a Recession: Raise Taxes /boggle

Scorpion0x17 wrote:

Turquoise wrote:

Scorpion0x17 wrote:

Scorpion0x17 wrote:

Turquoise wrote:

Scorpion0x17 wrote:

Turquoise wrote:

Scorpion0x17 wrote:

nativejam wrote:

Flecco wrote:

AussieReaper wrote:

Flecco wrote:

DrunkFace wrote:

Turquoise wrote:

kylef wrote:

KEN-JENNINGS wrote:

KEN-JENNINGS wrote:

Turquoise wrote:

Scorpion0x17 wrote:

Turquoise wrote:

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