Why does Government bother collecting "taxes"?

Discussion in 'Finance' started by Robert, May 14, 2016.

  1. Econ4Every1

    Econ4Every1 Well-Known Member

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    You are responding to something that was part of another conversation and already cleared up.
     
  2. Econ4Every1

    Econ4Every1 Well-Known Member

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    My point exactly.
     
  3. Econ4Every1

    Econ4Every1 Well-Known Member

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    Not under the current system, which is my point.

    However, I agree that we could switch to some other system of money, money would still exist.
     
  4. squidward

    squidward Well-Known Member

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    I agree

    currency or money?
     
  5. squidward

    squidward Well-Known Member

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    He said the Fed
     
  6. Ronstar

    Ronstar Well-Known Member Past Donor

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    no he didnt
     
  7. Robert

    Robert Well-Known Member Past Donor

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    Hey, if this is over my comments, YES ... I do mean the Feds. I know why states collect taxes and would love those debated where they can be debated.

    Here is a major problem not faced by other nations.
    We have a very complex tax system.


    First, even the Federal Income taxes are by far not the sole revenue taken by the Feds. I don't have at my fingertips the precise number of Federal taxes paid, but there are many of them.

    Added to that, then states leap in and levy more taxes. Some few states do not charge income taxes. They have the proper system in my view. Some have no sales taxes. That I might quibble with. But that is how states work.

    Other lands systems are far more simple. If you add up the following

    Your income tax
    Your social taxes, SS, medicare, and more
    Fuel taxes
    Excise taxes
    Many more

    You find you are very heavily taxed at the Federal level.

    But wait, then add up your state taxes and you learn fast you pay far more than do foreign people.
     
  8. Ronstar

    Ronstar Well-Known Member Past Donor

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    The Feds and "the Fed" are two different entities, bro.
     
  9. Robert

    Robert Well-Known Member Past Donor

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    So what? i have never suggested different.
     
  10. Ronstar

    Ronstar Well-Known Member Past Donor

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    the Fed does not collect taxes.

    problem solved
     
  11. Robert

    Robert Well-Known Member Past Donor

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    The Fed is the Federal Reserve which is banks.
     
  12. Ronstar

    Ronstar Well-Known Member Past Donor

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    no, its the US Central bank

    they do not collect taxes
     
  13. Robert

    Robert Well-Known Member Past Donor

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    Banks don't collect taxes nor have I said they do.
     
  14. Robert

    Robert Well-Known Member Past Donor

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    And here I thought you understood the Federal Reserve.

    How did you come up with they collected taxes since I have never said they do.

    The Central bank has 12 districts. All are banks. They are part of the network and make economic decisions affecting the usa.

    https://www.federalreserve.gov/aboutthefed/federal-reserve-system.htm
     
  15. squidward

    squidward Well-Known Member

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    Reading problem?
     
    Last edited: Jul 19, 2017
  16. Ronstar

    Ronstar Well-Known Member Past Donor

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    i fully do
     
  17. Ronstar

    Ronstar Well-Known Member Past Donor

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    he said he didn't.

    are you calling him a liar?
     
  18. squidward

    squidward Well-Known Member

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    That's what Econ said before you jumped in babbling
     
  19. squidward

    squidward Well-Known Member

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    Calling you diarrhea of the mouth. He quoted me thinking I meant the Fed when I meant federal. We cleared it up posts ago. Didn't stop you from thinking you were clever though
     
  20. Ronstar

    Ronstar Well-Known Member Past Donor

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    need some toilet paper?
     
  21. Robert

    Robert Well-Known Member Past Donor

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    Will you inform me then why you spoke of the Banking system collecting taxes? As I stated, i never did.
     
    DennisTate likes this.
  22. Ronstar

    Ronstar Well-Known Member Past Donor

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    someone thought u did
     
  23. ChrisL

    ChrisL Well-Known Member

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    Pretty soon the politicians will be taking more than half of our paychecks and spending it stupidly, or giving it away to other countries.
     
  24. Ronstar

    Ronstar Well-Known Member Past Donor

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    not likely.
     
  25. Econ4Every1

    Econ4Every1 Well-Known Member

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    You can only pay taxes with US dollars, so what you call it, money or currency is irrelevant.
     
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