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Elizabeth Warren: The Coming Collapse of the Middle Class
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Trevor



Joined: 16 Nov 2005

PostPosted: Mon Feb 01, 2010 5:58 am    Post subject: Reply with quote

Ignore him and he usually goes away, Rufus.

RufusW wrote:
Kimbop wrote:
Koreans are generally good people (as opposed to Haitians): they don't commit many crimes, they have a good work ethic, they're respectful of public propoerty, etc.


WTF? How did this slip in here? Was this sarcasm? Haitians are generally bad people?
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mises



Joined: 05 Nov 2007
Location: retired

PostPosted: Mon Feb 01, 2010 6:01 am    Post subject: Reply with quote

bucheon bum wrote:
And btw, my take home pay here in the US is 70% of my salary. That is after fed and state taxes, health insurance deduction, and 401K contribution. IOW, not near the 50% that jeonmunka mentioned.


You have to add in the taxes that are built into prices. Consider a farmer. He pays petrol taxes, taxes on employed labour, sales taxes and the rest. His product is shipped by a firm (that pays taxes on labour, petrol taxes etc) to a store/factory. Every step of the production process involves the government extracting revenue and pushing up prices.

And they can't balance their budget.
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bucheon bum



Joined: 16 Jan 2003

PostPosted: Mon Feb 01, 2010 7:25 am    Post subject: Reply with quote

Jeonmunka wrote:
Note originally I said, 'western countries.' I don't know why everyone suddenly jumps down my throat because I'm not making claims about the US. The US is a small part of our western countries. Cripes, Yata comes from Canada don't you?
Ask any NZer, Australian, European their tax and they'll tell you close to 50%. Not just income tax but VAT, GST ... it adds up.
As for NZ, it doesn't have offshore military bases, no navy, air force.

Quote:
my take home pay here in the US is 70% of my salary. That is after fed and state taxes, health insurance deduction, and 401K contribution

So, you have no land tax, no sales tax? No excise taxes?
Come on ...


1. I'm aware you said western countries, and wasn't disputing that. I was trying to imply that US federal revenues aren't near the 50% you mentioned, and are in between other Western countries and Korea. Just trying to add to the explanation of the whole Korea vs. US thing.

2. Not at the federal level, no. All those are state taxes. And we were comparing the Korean gov't to the US. Perhaps a more apt comparison would be a large US state to the Korean gov't. Pretty pitiful that California, a state with MANY more resources than the ROK, is in such dire financial shape.

And ya-ta is most definitely American.
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Reggie



Joined: 21 Sep 2009

PostPosted: Mon Feb 01, 2010 4:17 pm    Post subject: Reply with quote

South Korea is a burden on the American taxpayer.
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Fox



Joined: 04 Mar 2009

PostPosted: Mon Feb 01, 2010 4:25 pm    Post subject: Reply with quote

Reggie wrote:
South Korea is a burden on the American taxpayer.


South Korean exports also reduce American job availibility. South Korea also has an absolutely ridiculous trade policy from the perspective of partner nations like the United States.

We really need to decide if we're going to continue to support the Asian slide into economic dominance or not. If we're cool with Asia becoming the economic center of the world, then we can just keep doing business as usual. If not, then we have some things that need fixing. Note that this is much more relevent to China, but South Korea is also involved.
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bucheon bum



Joined: 16 Jan 2003

PostPosted: Mon Feb 01, 2010 4:50 pm    Post subject: Reply with quote

We should sign that FTA with South Korea (along with the agreements made with Colombia and I think Panama).
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