NIL Exemption for State Tax?

[cavalot]

I'm too rural for the fire department to save my house. Fire chief has let me know that. I have no problem paying taxes towards or donating to my FD regardless. I am a member of a community. Not just about me or my family.

That's kind of the point. Everyone would love to live tax free. I hate.. HATE paying taxes especially high ones. But as a community member and a citizen of this country, I can see the benefit in doing so.

That doesn't mean that we shouldn't look at ways to lower them. I'm all for logical ways to do that and save money in areas that are wasteful. If DOGE can do that, without lining the pockets of certain individuals then great.

 

[king_kong_]

While you don't say anything specifically with regards to all taxes you have definitely made it clear that only lemmings would want to pay. Property, State Income, Federal Income. (Which I would love not to have to pay to pay by the way.)

So your sure genius and creative analysis has brought us to the conclusion that all that is needed is sales tax. Ok so what level of sales tax funds 842Billion in defense spending, all of the infrastructure needs, Backing the Blue, Fire Departments, Subsidizing large corporations and farmers, etc....

I'll remove, safety nets for the poor, health for 65+, all public education, and any other gross mismanagement of public funds that you see as a scourge on the tax paying citizens of the US.

So again how do we pay for the services that YOU feel are worthy of your earned money? What % raise in sales tax will make this a viable solution?

perhaps you should learn how to read (again - you proudly represent our public school system) before spewing your emotions all over this board:

paying taxes on property, goods and services is fine by me.

property taxes, sales tax & corporate tax can and should remain.

unsurprisingly, you forgo the opportunity for revenue generation via value creation by your beloved federal gov't.

want more money? start making more money instead of taking more money.

 

[cavalot]

perhaps you should learn how to read (again - you proudly represent our public school system) before spewing your emotions all over this board:



property taxes, sales tax & corporate tax can and should remain.

unsurprisingly, you forgo the opportunity for revenue generation via value creation by your beloved federal gov't.

want more money? start making more money instead of taking more money.

LOl. See that wasn't that hard. Good boy. You act as if you had spelled that out. Clearly you hadn't.

You still didn't answered the question on sales tax. But I will also throw in property tax as well. What % increase on sales tax and property tax along with "value creation" will make up for the 2.3 trillion dollar short fall?

Again I'm all for not paying taxes on my hard earned money. You have the answers, let's us here them. Can include cuts too.

 

[king_kong_]

LOl. See that wasn't that hard. Good boy. You act as if you had spelled that out. Clearly you hadn't.

You still didn't answered the question on sales tax. But I will also throw in property tax as well. What % increase on sales tax and property tax along with "value creation" will make up for the 2.3 trillion dollar short fall?

Again I'm all for not paying taxes on my hard earned money. You have the answers, let's us here them. Can include cuts too.

the US is the most innovative country in the history of the world.

no society has created more value, ever.

much of that innovation ($tens of trillions) is spurred by federal grants/funding - where is the return?

I don't have the answers, nor do I claim to (obviously). I do know there is a better & more equitable way forward.

income tax is - by its very definition - gov't overreach. that you have accepted it doesn't make it not so.

 

[cavalot]

the US is the most innovative country in the history of the world.

no society has created more value, ever.

much of that innovation ($tens of trillions) is spurred by federal grants/funding - where is the return?

I don't have the answers, nor do I claim to (obviously). I do know there is a better & more equitable way forward.

income tax is - by its very definition - gov't overreach. that you have accepted it doesn't make it not so.

Ok so first you say we are the most innovative country in the world. (Don't disagree)

Then you say that innovation is spurred by federal grants/funding, but ask where is the return?
Make that make sense.

Income tax, property tax (manipulated valuation), sales tax, any tax can be seen as overreach. It's my money, my property, why should I pay the government for it?

So the question becomes what's acceptable and at what %. Anyone can bitch and say I don't like it. But what are you going to do about it?

If you're going to ridicule people because they question your stance or your belief you should have the ability to back it up. Not simply jump to insults. I know that that is what is prevalent in today's society, but it's not appropriate.

 

[cavalot]

We're basically slaves that pay 40-50% of what we make to taxes if you work.

I don't disagree with this. Last year we paid a ridiculous amount in taxes. Trump is talking about no Income tax. While I'm no fan, I am intrigued. But how? That's all im asking.

 

[king_kong_]

Then you say that innovation is spurred by federal grants/funding, but ask where is the return?
Make that make sense.

if you don't want to be ridiculed, please take the time to read and comprehend the words I type and also refrain from making emotional assumptions.

Angel investors, VCs, PEs, etc. make a handsome return on similar investments to our federal gov't to spur innovation.

the fed acts like an Angel/VC firm in many, many cases, funding innovations from defense to disease to tech and everything in between.

what should be significant ROI on these public investments should be compounding in the world's largest hedge fund similar to an endowment.

but, it's not.

 

[cavalot]

if you don't want to be ridiculed, please take the time to read and comprehend the words I type and also refrain from making emotional assumptions.

Angel investors, VCs, PEs, etc. make a handsome return on similar investments to our federal gov't to spur innovation.

the fed acts like an Angel/VC firm in many, many cases, funding innovations from defense to disease to tech and everything in between.

what should be significant ROI on these public investments should be compounding in the world's largest hedge fund similar to an endowment.

but, it's not.

BS. I read and quoted what you wrote. You didn't specify crap, and its exactly what you try to do on anything you write about Rhule. So when asked for specifics instead trying to play school yard bully, just answer the damn question in the first place.

People might take you more seriously. Being a dick doesn't make you smart.

I guess I would ask the question....IF what you say is the remedy for what ails the finances of this country, why wouldn't a large % of economist agree with you? Why wouldn't the fed chair agree with you. We've had 14 of them in the last 100 years. 50/50 split amongst parties. Still pretty much doing the same thing. And nothing really changed from 16-20 either.

I think people underestimate the size and complexity of the Fed. Government. I get that that is what DOGE is trying to reduce, and If they can great. But it will still be complex, and it still has an obligation to its citizens. No matter how lazy or unlikeable they may be in your eyes.

Why does anyone actually believe that you can run the entire federal government like a personal business? Serious question.

Also when was the last time our government was fiscally sound? Balanced budget/no deficit? What did we do differently then? What has led to the current deficits? Taxes play a part, expenditures play a part. If were going to howl at the moon let's know why!

 

[king_kong_]

People might take you more seriously. Being a dick doesn't make you smart.

I guess I would ask the question....IF what you say is the remedy for what ails the finances of this country, why wouldn't a large % of economist agree with you?

LOL

these two sentences back to back are perfect.

did I say my Nebraska Football message board post was "the remedy for what ails the finances of this country"? of course not.

more emotional assumptions, more trouble comprehending the written word.

typical.

 

[cavalot]

LOL

these two sentences back to back are perfect.

did I say my Nebraska Football message board post was "the remedy for what ails the finances of this country"? of course not.

more emotional assumptions, more trouble comprehending the written word.

typical.

. So You've Got Nothing! Typical!

 

[king_kong_]

. So You've Got Nothing! Typical!

I posted an idea to ease citizens' tax burden through value creation in this thread.

you responded with bizarre, emotion-laden non sequiturs.

a real feather in your cap.

 

[HikingHusker]

Ok, I’m fine with that. I thought we were saying the recipient (players) shouldn’t be taxed as income. That’d just be pointless and ridiculous. You got people making 50k(or less) paying taxes but we’re gonna exempt 18 year olds making 6-7 figures? Not sure how that would go over with the general public…

I assume they would still pay federal income tax. So this is essentially leveling the playing field with states like Texas and Florida that have no state income tax. Seems like a smart thing to do.

 

[king_kong_]

I assume they would still pay federal income tax. So this is essentially leveling the playing field with states like Texas and Florida that have no state income tax. Seems like a smart thing to do.

yep.

 

[salsa red]

I don't disagree with this. Last year we paid a ridiculous amount in taxes. Trump is talking about no Income tax. While I'm no fan, I am intrigued. But how? That's all im asking.

supposedly tarrifs, no foreign aid (of course isreal is the exception ), cut 80% of government employees/programs, etc. Not sure the machine can be disassembled but we'll find out. The parasite has gotten so big, killing it might kill the host.

 

[huskerfan66]

I assume they would still pay federal income tax. So this is essentially leveling the playing field with states like Texas and Florida that have no state income tax. Seems like a smart thing to do.

Why should they get a tax break and not me?

 

[king_kong_]

Why should they get a tax break and not me?

do 92,000 people pay to watch you work once a week?

 

[cavalot]

supposedly tarrifs, no foreign aid (of course isreal is the exception ), cut 80% of government employees/programs, etc. Not sure the machine can be disassembled but we'll find out. The parasite has gotten so big, killing it might kill the host.

Well history has proven that tariffs actually don't work, cutting 80% of the government will paralyze our country, at least in the short term, and going it alone will be an interesting proposition for future growth in a global economy.

At this point we might as well dump the constitution and retry the Articles of Confederation. Leave the FG as a figure head and let states stand on their own. Seems to be the path most desired.

 

[cavalot]

I assume they would still pay federal income tax. So this is essentially leveling the playing field with states like Texas and Florida that have no state income tax. Seems like a smart thing to do.

Agreed from the stand point of status quo across the board. But can we really assume anything at this point. It may indeed be not paying fed income tax. Who knows?

 

[king_kong_]

Agreed from the stand point of status quo across the board. But can we really assume anything at this point. It may indeed be not paying fed income tax. Who knows?

the people who are capable of reading.

this proposal is a state income tax exemption, as noted in the single sentence headline.

duh.

 

[Tuco Salamanca]

do 92,000 people pay to watch you work once a week?

I have millions of subscribers on my OF page. So much more than 92,000 watch me work once a week.

 

[V-Doub]

I assume they would still pay federal income tax. So this is essentially leveling the playing field with states like Texas and Florida that have no state income tax. Seems like a smart thing to do.

Seems like they (GA) would have to eliminate state income tax altogether, much like Florida and Texas, for this to avoid legal pitfalls. Which is fine if that’s what GA state legislators are able to pass. I just don’t like the idea of certain people being exempt from paying state income tax while other people are required to pay. Don’t think that would hold up legally, but I’m also not an architect.

 

[cavalot]

the people who are capable of reading.

this proposal is a state income tax exemption, as noted in the single sentence headline.

duh.

Well i didn't look that close but know that a lot of the conversation was about federal income tax. So I stand corrected. Thanks.

Wasn't that easy!

 

[salsa red]

Well history has proven that tariffs actually don't work, cutting 80% of the government will paralyze our country, at least in the short term, and going it alone will be an interesting proposition for future growth in a global economy.

At this point we might as well dump the constitution and retry the Articles of Confederation. Leave the FG as a figure head and let states stand on their own. Seems to be the path most desired.

Well there is certainly a lot of fat that can be trimmed. With automation and ai, I imagine a lot of useless jobs could be cut without issue. Not sure how far they can go as government lackies will fight hard to stay on the government teat. My mom drives bus and sees it everyday. Says she picks up lots of kids who are coming in as immigrants. Given houses, food, phones, debit cards that reload every month, etc. They're incentivized not to work. Have a lot of cousins and uncles who haven't worked in years, some decades as well. If we can get the country to be productive than I can see how we can get rid of income tax/ property tax.
Personal property tax is my least favorite tax, you get taxed annually for stuff you paid (with tax) for with taxed income.

 

[huskerfan66]

I have millions of subscribers on my OF page. So much more than 92,000 watch me work once a week.

Take it a step further if you want to make things equal. Exempt from federal too

 

[cavalot]

Well there is certainly a lot of fat that can be trimmed. With automation and ai, I imagine a lot of useless jobs could be cut without issue. Not sure how far they can go as government lackies will fight hard to stay on the government teat. My mom drives bus and sees it everyday. Says she picks up lots of kids who are coming in as immigrants. Given houses, food, phones, debit cards that reload every month, etc. They're incentivized not to work. Have a lot of cousins and uncles who haven't worked in years, some decades as well. If we can get the country to be productive than I can see how we can get rid of income tax/ property tax.
Personal property tax is my least favorite tax, you get taxed annually for stuff you paid (with tax) for with taxed income.

That's interesting. I guess it depends on where one lives. Most immigrants where I live, and admittingly we don't have a lot here, have been hard working. I have no idea about given houses or the things you mentioned. I wouldn't even know how one would know that.

But when looking at where to cut. This is the spending for the FY 24. I really hope that cuts can be made across the board that help get our debt under control. Notice that our net interest on debt was over 1 trillion for the first time. No one in government is innocent of that atrocity.

The U.S. federal budget for Fiscal Year 2024, which spanned from October 1, 2023, to September 30, 2024, allocated funds across various sectors to support national priorities. Here's a breakdown of the major spending categories:

1. Social Security: $1.46 trillion
This category represents the largest portion of the budget, providing financial assistance to retirees, disabled individuals, and survivors.

visualcapitalist.com


2. Health: $912 billion
This includes funding for Medicare, Medicaid, and other health-related programs aimed at ensuring public health and access to medical services.

visualcapitalist.com


3. National Defense: $842 billion
Allocated to the Department of Defense and related military activities to maintain national security and defense capabilities.

visualcapitalist.com


4. Net Interest on Debt: Over $1 trillion
For the first time, gross interest payments on the U.S. debt surpassed the $1 trillion mark, reflecting the cost of servicing the national debt.

visualcapitalist.com


5. Income Security Programs: $1.3 trillion
This encompasses various welfare programs, including unemployment benefits, food assistance, and housing subsidies, designed to support individuals and families in need.

visualcapitalist.com


6. Education: $300 billion
Investments in educational initiatives, including funding for primary, secondary, and higher education, as well as vocational training programs.

visualcapitalist.com


7. Veterans' Benefits and Services: $250 billion
Funds allocated to support veterans through healthcare, education, and other benefit programs.

visualcapitalist.com


8. Transportation: $150 billion
Investments in infrastructure projects, including highways, public transit, and aviation, to enhance the nation's transportation systems.

visualcapitalist.com


And I agree... Property taxes suck. And even when they lower them they play the game of raising the valuation. LOL.

 

[RBigredMax]

Personal property tax is my least favorite tax, you get taxed annually for stuff you paid (with tax) for with taxed income.

Agree - $500 every year for a car is ridiculous. Annual property tax of ~$14K is insane.

I won’t complain because it is what it is and I no longer look at my paycheck to see how much comes out for taxes. It keeps me from going crazy.

I may go through my expenses and figure my total tax liability, including sales tax for 2024 just for giggles.