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  • From: Bill Jones <billj AT harborside.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] The GOP on government spending: Borrow 'til the Chinese own us!
  • Date: Thu, 27 Oct 2005 08:52:59 -0700

Not at all.

The largest portion of that is the federal income tax, and the largest increase in the federal budget relative to GNP happened in the mid-sixties, as any suitable graph will indicate. The wasteful programs created then are still with us now, largely, and the people to blame for that are the cowards who are constantly more concerned about their re-election than about doing what's right.

Rob wrote:

You're lumping all the taxes together and blaming LBJ for them? That's what I figured. To me it looks like a way to blame "the other political party" for the way things are now. <Sigh>, no surprise there, not even sure why I bothered to ask...

Rob in WA, with 8.1 sales tax, a gas tax, but no state income tax.



At 10/26/2005 05:05 PM, you wrote:

That's a combination of average sales taxes, state and federal income
taxes, FICA, etc. It doesn't make sense to add in property taxes,
because there's nothing there that's proportional to income. But
realistically, it does indeed contribute to the total tax burden.

Social Security is so simple to comprehend, now that we know that
there's no miracle compound interest being earned in a locked box. To
find out what FICA taxes will be like in 2030, just multiply the present
percentage by a ratio approximately equal to 3.2/1.96 (the ratio of #
workers per retiree now, to the projected # of workers per retiree
then). I think you'll find it comes out to over 20% just for FICA.

Of course, this doesn't account for things like economic collapse,
because it assumes that the percentage of people employed will stay the
same. And either way, the retired person's SS will reflect not only the
percentage of people employed, but also how _well_ employed the average
worker is.

Rob wrote:


At 10/25/2005 12:49 PM, you wrote:



If only there were some way to dismantle the LBJ spending machine, there
would be plenty of money. We're paying almost 40% in taxes, after all.



Show me how the fed is getting almost 40% of what I earn.



Rob
becida AT comcast.net

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