If income taxes were cut in half, what would you buy?

Bene505 · #1 (**permalink**) 03-24-2009

Since the only real, long term stimulus is for government to get out of the way.

Instructions: Type the thing(s) and how much. Type the business you'd create or expand and the people you'd hire.

Thing(s) you'd buy
Amount
Business you start or expand
Number of people you'd hire

I'd buy a radar for the boat. The new Garmin HD radar and a display. Maybe $3,000. I'd also be able to put money toward the sailboat rescue venture a lot quicker, hiring 3 people.

...

SailorGregS · #2 (**permalink**) 03-24-2009

Bene505, half of all we make (my wife and I) is tax. With out disposable income we have to pay Provincial Tax and the GST, and now there's an Enviromental tax.

If we had lower taxes, I would certainly spend more money versus trying to save all we can.

Bene505 · #3 (**permalink**) 03-24-2009

Quote:

Originally Posted by SailorGregS

Bene505, half of all we make (my wife and I) is tax. With out disposable income we have to pay Provincial Tax and the GST, and now there's an Enviromental tax.

If we had lower taxes, I would certainly spend more money versus trying to save all we can.

Understoond. And what would you buy?

tommays · #4 (**permalink**) 03-24-2009

NOTHING

I have limited faith in the future to buy anything i cant pay cash for

SailorGregS · #5 (**permalink**) 03-24-2009

I would probably landscape our lot and re do the driveway.

camaraderie · #6 (**permalink**) 03-24-2009

Kruggerands.

Bene505 · #7 (**permalink**) 03-24-2009

Quote:

Originally Posted by camaraderie

Kruggerands.

My point is that if Obama were to eliminate income taxes, you wouldn't need to buy Kruggerands anymore.

I think this whole mess was created by a long-term, sustained attack on those who provide value to the world.

PBzeer · #8 (**permalink**) 03-25-2009

Writing in The American Spectator, Jeffery Lord makes this point about the 1966 mid-term election:

Quote:

It was in fact the beginning of a realization by everyday Americans that massive government spending programs, the backbone of the New Deal, Truman's Fair Deal, JFK's New Frontier and LBJ's Great Society, must finally be paid for -- by them. In the cost of their groceries, their gas, their housing and everything else from clothes to college educations to steadily rising taxes.

And now, we have the "New New Deal of more massive government spending proposals. Which will require, rhetoric aside, higher taxes on everyone, not just the top 5%. Not to mention the hidden taxes of increased prices for everything from milk to energy.

Selkirk · #9 (**permalink**) 03-27-2009

Quote:

Originally Posted by tommays

NOTHING

I have limited faith in the future to buy anything i cant pay cash for

Us, too.

And therein lies a real problem. A lot of us are getting older and once you are over 50 you don't spend as much as younger folks do. So it may be a while before the general public bellies up to the gimmee bar.

To wit: Our house is paid for as is our two rental properties and cars. And we ain't shopping, either. We save fully 50% of what I make. But I'm only gonna work another year or so.

SOUNDBOUNDER · #10 (**permalink**) 03-29-2009

Quote:

Since the only real, long term stimulus is for government to get out of the way.

Historically that is not really true.

Historical Top Tax Rate

With the exception of the 1920s, the tax rates were significantly higher during the boom years of the 1950s, 60's, 80's, 90's etc

Plus, it is questionable for a government to "get out of the way" when there has been a trillion dollar war going on.