Uhh, not in SE Asia - microSIMs are rare, and when the iPhone 4 came out they were non-existent. Same thing in China at the time of their release - a lot of people cutting down regular units to try to make them work.
You ignored the second half - they earn 46% of the total gross income, but they pay 70% of the taxes on that gross income. Yet somehow, for a lot of people, they aren't paying "their fair share". When they're earning 46%, and paying 70% of the taxes, I think that qualifies as their fair share.
Uhh, here in Washington you WILL pay sales tax when you buy from Amazon. And Amazon does pay all State-required taxes, as well as all Federally required taxes. This is a case of States where Amazon does NOT have a presence insisting - unconstitutionally - that Amazon collect sales taxes for them.
According to the US Constitution, States do not have the right to tax interstate sales. They can collect sales made inside their own State, but not those made out of state.
Add up all the tax receipts of the Federal Government - FICA, Social Security, income taxes, corporate taxes, capital gains taxes, excise taxes, fees, permits, duties and tariffs, etc. Every single dollar of receipts to the Federal Government. Of that total, the top 25% of income earners pay approximately 60% of it as income and FICA/SS taxes alone. Yes, 1 in 4 is paying 6 out of 10 dollars collected by the Federal Government with their income and FICA/SS taxes alone. That's not including the capital gains taxes, estate taxes, excise taxes, duties and tariffs, and other taxes that top 25% pays. Just their income and FICA/SS taxes alone.
See here. Right now, it's about $1.36 trillion. We're about 63% through the fiscal year. Extrapolating the deficit at the current rate and we'll end up around $2.16 trillion. Note that the CBO does NOT include off-budget items; the actual debt clock does, however.
where do you get 2.2 trillion from?
according to US DEBT CLOCK . ORG, the US federal budget deficit is about $1.36 T
That's the deficit so far, for this Federal fiscal year. Since we're about 63% through the fiscal year, we could expect the deficit to end up at ($1.36 / 0.63) ~$2.16 trillion by the time the fiscal year is done.
That's pretty much poppycock. The US global tax rate is currently something like 15% of GDP right now, which is the lowest it has been since the days of Hoover. Economic measurements generally suggest that revenues increase up to about a 50% tax rate.
See Hauser's Law for a refutation of your claim. Actual economic data from the US shows that the Federal Government typically gets ~20% of the GDP as tax receipts, and it's independent of marginal tax rates. Recessions tend to damp the GDP, and massive deficit spending further retards private-sector GDP (typically a dollar spent by the Government for stimulus will gain you about $0.60 in actual GDP growth), meaning lowering to the tax rate. But over the longer term (3+ year periods) it tends to be 20% - in high or low tax rate times.
However, there is strong evidence that cutting the top marginal and corporate tax rates will stimulate GDP growth, meaning more absolute dollars flow to the Federal Government (Hauser's Law applied to the larger GDP from the tax cuts).
It's called Hauser's Law and states that the Federal Government will collect ~20% of the GDP independent of marginal tax rates. The problem is the Federal Government is now spending ~27% of our GDP; thus the record-breaking deficits (the deficit for 2010 will be larger than the GDP of all but 7 nations on the planet - including bigger than the GDP of Canada).
You might want to look at your own reference for the DHHS again - on page 8 of that PDF, it clearly states the actual for 2010 was $854 billion ($854,174 million, which is $854 billion). Combined, Social Security, Medicare/Medicaid, and Federal unemployment/entitlements consume 100% of the Federal Government's tax receipts - that's all the Social Security, FICA, Income, Corporate, and capital gains taxes, excise taxes, duties, tariffs, and fees. 100% of the Federal Government's revenue just covers SS, Medicare/Medicaid, and unemployment and entitlements. DOD and everything else the Federal Government does runs on borrowed money.
The reality is that the rich don't pay their fare share of taxes.
The facts don't back you up. The top 10% pay 70% of all income taxes - even though their income is 46% of the total income for the nation. They pay more than their fair share, unless by "fair" you mean more than twice the rate of anyone else...
The sad truth is - 100% of our tax receipts just barely cover Social Security, Medicare/Medicaid, and unemployment and other entitlements. We're funding everything else - DOD, FDA, Customs and Border Patrol, NASA, FCC, OSHA, Justice, everything else - with borrowed money. It's not a matter of increasing taxes; it is, as you point out, the spending that is the problem.
As a person living in the same state as Amazon (Washington), they do add and collect sales tax. However, my friend living in Idaho does not pay sales tax.
See, your post will get ignored because it doesn't provide a chance to rail against the GOP or the previous Administration... You really must be new around here...
Miami is too easy, it's well known for its sun & beaches. Same with NYC, LA, San Fran, Seattle, Houston.
As a native of Seattle, the LAST thing I'd think Seattle is known for is sun and beaches! Heck, I usually have to specify the State, right near Vancouver BC (not Vancouver, WA) to make people in Europe and Asia realize I'm not from Washington DC.
Slashdot Mirror
Uhh, not in SE Asia - microSIMs are rare, and when the iPhone 4 came out they were non-existent. Same thing in China at the time of their release - a lot of people cutting down regular units to try to make them work.
No, just that every time you infect a PC, you make Baby Jesus cry...
Don't worry, next week Dvorak will write a column saying the opposite...
You ignored the second half - they earn 46% of the total gross income, but they pay 70% of the taxes on that gross income. Yet somehow, for a lot of people, they aren't paying "their fair share". When they're earning 46%, and paying 70% of the taxes, I think that qualifies as their fair share.
Uhh, here in Washington you WILL pay sales tax when you buy from Amazon. And Amazon does pay all State-required taxes, as well as all Federally required taxes. This is a case of States where Amazon does NOT have a presence insisting - unconstitutionally - that Amazon collect sales taxes for them.
According to the US Constitution, States do not have the right to tax interstate sales. They can collect sales made inside their own State, but not those made out of state.
Add up all the tax receipts of the Federal Government - FICA, Social Security, income taxes, corporate taxes, capital gains taxes, excise taxes, fees, permits, duties and tariffs, etc. Every single dollar of receipts to the Federal Government. Of that total, the top 25% of income earners pay approximately 60% of it as income and FICA/SS taxes alone. Yes, 1 in 4 is paying 6 out of 10 dollars collected by the Federal Government with their income and FICA/SS taxes alone. That's not including the capital gains taxes, estate taxes, excise taxes, duties and tariffs, and other taxes that top 25% pays. Just their income and FICA/SS taxes alone.
we've got 2 weak neighbors (Canada & Mexico)
I'd like to hear more on how Canada is 'weak'.
Easy: our deficit alone is greater than your GDP. Think about it - we spend more in debt that your entire country's economy. You're puny!
See here. Right now, it's about $1.36 trillion. We're about 63% through the fiscal year. Extrapolating the deficit at the current rate and we'll end up around $2.16 trillion. Note that the CBO does NOT include off-budget items; the actual debt clock does, however.
where do you get 2.2 trillion from? according to US DEBT CLOCK . ORG, the US federal budget deficit is about $1.36 T
That's the deficit so far, for this Federal fiscal year. Since we're about 63% through the fiscal year, we could expect the deficit to end up at ($1.36 / 0.63) ~$2.16 trillion by the time the fiscal year is done.
That's pretty much poppycock. The US global tax rate is currently something like 15% of GDP right now, which is the lowest it has been since the days of Hoover. Economic measurements generally suggest that revenues increase up to about a 50% tax rate.
See Hauser's Law for a refutation of your claim. Actual economic data from the US shows that the Federal Government typically gets ~20% of the GDP as tax receipts, and it's independent of marginal tax rates. Recessions tend to damp the GDP, and massive deficit spending further retards private-sector GDP (typically a dollar spent by the Government for stimulus will gain you about $0.60 in actual GDP growth), meaning lowering to the tax rate. But over the longer term (3+ year periods) it tends to be 20% - in high or low tax rate times.
However, there is strong evidence that cutting the top marginal and corporate tax rates will stimulate GDP growth, meaning more absolute dollars flow to the Federal Government (Hauser's Law applied to the larger GDP from the tax cuts).
It's called Hauser's Law and states that the Federal Government will collect ~20% of the GDP independent of marginal tax rates. The problem is the Federal Government is now spending ~27% of our GDP; thus the record-breaking deficits (the deficit for 2010 will be larger than the GDP of all but 7 nations on the planet - including bigger than the GDP of Canada).
You might want to look at your own reference for the DHHS again - on page 8 of that PDF, it clearly states the actual for 2010 was $854 billion ($854,174 million, which is $854 billion). Combined, Social Security, Medicare/Medicaid, and Federal unemployment/entitlements consume 100% of the Federal Government's tax receipts - that's all the Social Security, FICA, Income, Corporate, and capital gains taxes, excise taxes, duties, tariffs, and fees. 100% of the Federal Government's revenue just covers SS, Medicare/Medicaid, and unemployment and entitlements. DOD and everything else the Federal Government does runs on borrowed money.
The reality is that the rich don't pay their fare share of taxes.
The facts don't back you up. The top 10% pay 70% of all income taxes - even though their income is 46% of the total income for the nation. They pay more than their fair share, unless by "fair" you mean more than twice the rate of anyone else...
The sad truth is - 100% of our tax receipts just barely cover Social Security, Medicare/Medicaid, and unemployment and other entitlements. We're funding everything else - DOD, FDA, Customs and Border Patrol, NASA, FCC, OSHA, Justice, everything else - with borrowed money. It's not a matter of increasing taxes; it is, as you point out, the spending that is the problem.
Right now, the richest 10% pay 70% of the income tax the Federal Government receives; and they earn 46% of the total gross income. They're already paying more in taxes than most people, and paying the vast majority of income taxes.
As a person living in the same state as Amazon (Washington), they do add and collect sales tax. However, my friend living in Idaho does not pay sales tax.
Here's another number you missed: US debt growth from March 19, 2009 to May 16, 2011: $3,268,699,050,662. More than the 15 year hunt for bin Laden...
See, your post will get ignored because it doesn't provide a chance to rail against the GOP or the previous Administration... You really must be new around here...
Miami is too easy, it's well known for its sun & beaches. Same with NYC, LA, San Fran, Seattle, Houston.
As a native of Seattle, the LAST thing I'd think Seattle is known for is sun and beaches! Heck, I usually have to specify the State, right near Vancouver BC (not Vancouver, WA) to make people in Europe and Asia realize I'm not from Washington DC.
Add a drawstring as well and you're 100% on target...
I would like to buy the username Anonymous Coward.
2. ???
3. Profit!
Yeah, a huge difference between "ring worlds" and "ringED worlds".
Worlds with erectile dysfunction tend to die out rather quickly, so I don't think we'll find too many of them...
Someone needs to re-read TFS: IncognitoRAT is one example of a Java-based Trojan . Sorry, it's a Trojan.
You must be new around here (regardless of your 5 digit UID)... Every /.er knows the world doesn't end until Duke Nukem Forever is released...