republicans-pass-budget-resolution tax cuts overtime pay

[libertysnake]

Medicare is one of the top five programs filled with fraud. Like most programs, the idea was sound when it was created, now... a bloated money laundering scheme. Medicare should offer services needed using common sense.

I read a story out of Oregon not too long back. 89 year old man was able to get a kidney transplant at a cost to Medicare nearing 800k. He died of other natural causes less than 4 months later.

Should have never been allowed to get a Medicare paid transplant. That is abuse.

They should be set procedures and set prices of what can be billed and what will be paid.

Far touch waste and abuse.

If Medicare won't pay out for services I want them to pay out when I'm 65, then don't tax me. If you're not providing a service to me, then it's theft of my money. So it's a two way street. "Give us your money for a program where you have no choice what we will cover, and you can't opt out of paying the tax, and we'll screw you when you want to use it." Soudns like a raw deal to me.

I don't pay my insurance company to not pay out. I pay them because I know what they cover and don't, and I intend to be on the side of that arrangement that benefits me. Otherwise I'd choose a different plan and not give them my money.

 

[GOPerfect]

If Medicare won't pay out for services I want them to pay out when I'm 65, then don't tax me. If you're not providing a service to me, then it's theft of my money. So it's a two way street. "Give us your money for a program where you have no choice what we will cover, and you can't opt out of paying the tax, and we'll screw you when you want to use it." Soudns like a raw deal to me.

I don't pay my insurance company to not pay out. I pay them because I know what they cover and don't, and I intend to be on the side of that arrangement that benefits me. Otherwise I'd choose a different plan and not give them my money.

So, you think there should be no limit at all?

100 year old mam should get a heart transplant that will cost over a million?

There needs to be limits on all of these programs.

 

[STS556]

why would employers pay out less OT ? It doesn't cost them any more than they already pay. Its just going to a different place, the people that worked for it .

Exactly what the payroll manager at my job said. He has no idea where people got the idea how no tax on overtime will cut the OT. The company still has to pay it out, now all of goes to the employee and not half to the government.

 

[dwa12479]

Being an employee is not paid salary, tips, or overtime... these cuts have no effect on me what-so-ever. However, I am happy to see fellow working class citizens get to keep more of their hard earned money. So that's my positive from this

 

[togmaster]

That is the plan. Raise enough money from tariffs so you don’t have to tax your citizens.

Tariffs are paid by companies on the US side of the border not the country from which they came. The idea behind them is to lower sales of foreign products by making them too expensive. Not a good strategy for raising income to replace taxes.

 

[SonOfSun]

That is the plan. Raise enough money from tariffs so you don’t have to tax your citizens.

So taxes, but in a different form.

Tariffs aren't magical money from someone else. The importer pays the tarrifs. They pass that on.

So let's use some round numbers for easy calculations.

Let's say today I import a t-shirt for $10, and my other costs (employees, building, etc.) cost me another $10 and I sell it for $35, netting me $15 in profit.

Now let's say there is a 50% tarrif. I pay the importer $10, the government $5 in tariff, other costs stay the same so $10. If I sold that shirt for $35 I'd only make $10 on the sale. I can't do that so now that $35 shirt is $40 so I still make the same $15 in profit. Sure you aren't paying taxes, but the price of the goods went up.

 

[Saltwater60]

Medicare is one of the top five programs filled with fraud. Like most programs, the idea was sound when it was created, now... a bloated money laundering scheme. Medicare should offer services needed using common sense.

I read a story out of Oregon not too long back. 89 year old man was able to get a kidney transplant at a cost to Medicare nearing 800k. He died of other natural causes less than 4 months later.

Should have never been allowed to get a Medicare paid transplant. That is abuse.

They should be set procedures and set prices of what can be billed and what will be paid.

Far touch waste and abuse.

Then this is what needs to be fixed not the program stopped or cut. I guess you could call it cut if we stop this. The problem is doctors and how all the paperwork is all filled out. You should have seen the crazy tests and crap they did to my grandpa while he was dying of congestive heart failure at 84 years old. No way he was coming out of it. I agree this needs to stop so the program becomes viable but people still need to get the coverage they were promised when the money was stolen from them.

 

[Beerman]

I would rather be in a position to pay into Medicare/Medicaid than be in a position where I was receiving it as my only option. Think about that for a minute, you heartless heathen bastids.

 

[Saltwater60]

So taxes, but in a different form.

Tariffs aren't magical money from someone else. The importer pays the tarrifs. They pass that on.

So let's use some round numbers for easy calculations.

Let's say today I import a t-shirt for $10, and my other costs (employees, building, etc.) cost me another $10 and I sell it for $35, netting me $15 in profit.

Now let's say there is a 50% tarrif. I pay the importer $10, the government $5 in tariff, other costs stay the same so $10. If I sold that shirt for $35 I'd only make $10 on the sale. I can't do that so now that $35 shirt is $40 so I still make the same $15 in profit. Sure you aren't paying taxes, but the price of the goods went up.

So you’re still paying taxes it’s just not called a tax. I agree with you BTW on this and that’s exactly what will happen. However it might even be worse than what you claim. Take cars for example where many of the parts are foreign so you pay a 25% tariff on an alternator, the bolts, wires, and wiring harness. Well now that comes to the USA to be built into an assembly and is then sent to Mexico or Canada to be assembled into the motor and is then shipped back to the USA and tariffed or taxed again. Then this entire assembly goes to Canada or Mexico for full assembly as a drivable vehicle then that vehicle returns to the USA being taxed or having tariffs placed on it again. I’m not saying my depiction of parts movements is accurate but an example of how this could get compounded and be more complicated than a shirt.
There are times items come in and out of the country and tariffs are placed on them multiple times. Vehicles are a great example of that. By me there is the ford stamping plant and GM engine plant. Many of those components and raw materials are all foreign and tariffs place on them at entry then they leave the USA for assembly. Many fords and GMs are assembled in Canada or Mexico then returned to the USA as a fully drivable vehicle where tariffs are placed on them again.

https://www.cars.com/amp/articles/which-proposed-tariffs-could-affect-your-next-car-504472/

 

[Beerman]

If Medicare won't pay out for services I want them to pay out when I'm 65, then don't tax me. If you're not providing a service to me, then it's theft of my money. So it's a two way street. "Give us your money for a program where you have no choice what we will cover, and you can't opt out of paying the tax, and we'll screw you when you want to use it." Soudns like a raw deal to me.

So you’re saying that any taxpayer should be able to grab a tank, an F-16, Blackhawk and anything else they wish to possess because it was paid for with your taxes, and you should be able to use it whenever you want?

Ok, I could get down with that. But I call dibs on all the airplanes. You mouth breathers can have all the tanks and trucks.

 

[SonOfSun]

So you’re still paying taxes it’s just not called a tax. I agree with you BTW on this and that’s exactly what will happen. However it might even be worse than what you claim. Take cars for example where many of the parts are foreign so you pay a 25% tariff on an alternator, the bolts, wires, and wiring harness. Well now that comes to the USA to be built into an assembly and is then sent to Mexico or Canada to be assembled into the motor and is then shipped back to the USA and tariffed or taxed again. Then this entire assembly goes to Canada or Mexico for full assembly as a drivable vehicle then that vehicle returns to the USA being taxed or having tariffs placed on it again. I’m not saying my depiction of parts movements is accurate but an example of how this could get compounded and be more complicated than a shirt.
There are times items come in and out of the country and tariffs are placed on them multiple times. Vehicles are a great example of that. By me there is the ford stamping plant and GM engine plant. Many of those components and raw materials are all foreign and tariffs place on them at entry then they leave the USA for assembly. Many fords and GMs are assembled in Canada or Mexico then returned to the USA as a fully drivable vehicle where tariffs are placed on them again.

https://www.cars.com/amp/articles/which-proposed-tariffs-could-affect-your-next-car-504472/

Yes it absolutely can be more complicated, just like you mentioned. It can also be a lot worse with multiple crossings. I used a shirt example with nice round numbers to make the illustration easier.

My main point was: Tariffs aren't some magic bullet that uses mystery money to magically get rid of taxes without other parts of the equation being changed as well. Tariffs get passed on to the consumer and increase the price of goods.

Tariffs aren't always bad, they can be useful in evening out unfair trade. To put it in terms people here can relate to: tariffs are like a gun. A gun isn't good or bad in and of itself, but you can use a gun to do both bad or good things. It's just a tool. Tariffs are just a tool, and like any tool if you use it recklessly you will get hurt.

 

[OwnTheRide]

So taxes, but in a different form.

Tariffs aren't magical money from someone else. The importer pays the tarrifs. They pass that on.

So let's use some round numbers for easy calculations.

Let's say today I import a t-shirt for $10, and my other costs (employees, building, etc.) cost me another $10 and I sell it for $35, netting me $15 in profit.

Now let's say there is a 50% tarrif. I pay the importer $10, the government $5 in tariff, other costs stay the same so $10. If I sold that shirt for $35 I'd only make $10 on the sale. I can't do that so now that $35 shirt is $40 so I still make the same $15 in profit. Sure you aren't paying taxes, but the price of the goods went up.

You're absolutely right... instead of income taxes, we'd be paying consumption taxes. That said, IMO, consumption taxes might be more fair. Hear me out:

Income taxes are supposedly progressive, meaning everyone pays equal share on each portion of income they qualify for. So, just using made-up numbers, everyone pays 10% on their first $50k, 15% on 50k-100k, 20% on 100k-200k, etc. This is inherently fair. But, that's not how our income tax actually works. Credits and deductions phase out as income rises, meaning that a higher earner will pay a higher rate on the first few brackets of their income. Then, on the backside, ultra-high earners don't earn wages, they earn interest, which is taxed at lower capital gains rates.

What does this reality amount to? The middle class paying the highest tax rates.

Consumption taxes, on the other hand, are applied equally across the board. You pay taxes on what you buy, not what you earn. So, poor people who buy less, pay less in taxes. Ultra-wealthy people buy more, and pay more.

It's not perfect, but no perfect system exists. It is much more fair than our current "progressive-but-not-really" income tax.