Politics Democratic Socialism

Discussion in 'Blazers OT Forum' started by magnifier661, Sep 13, 2015.

  1. riverman

    riverman Writing Team

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    That would be my guess, and hiway patrol maybe
     
  2. riverman

    riverman Writing Team

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    I believe ODOT is funded by the State which is funded be property tax, gambling tax, tobacco and alcohol tax. We don't have sales tax here which I think sucks...no tourist dollars contribute to the fund with the exception of a small hotel tax if they stay in one.
     
  3. magnifier661

    magnifier661 B-A-N-A-N-A-S!

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    I thought the highway patrol is state funded?
     
  4. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    PAY WAY MORE FOR IT.

    Who's going to pay? "The Rich"
     
  5. magnifier661

    magnifier661 B-A-N-A-N-A-S!

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    Listen to your congressman people!!!!

     
  6. donkiez

    donkiez Well-Known Member

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    According to Sanders plan, total tuition costs are estimated at $70B. FEDs pay 2/3 and State pays 1/3. The FED portion would be covered by a tax on derivatives, stocks and bonds at rates of less than 0.1%. So total new state obligations would be $23.1B, but new FED pell obligations savings $30B. Seems like a net gain to me, just have to figure out how to filter some of the savings to the states. And as an added bonus you get skilled earners to help pay for your social security.

    http://america.aljazeera.com/articl...ls-plan-for-tuition-free-public-colleges.html
     
  7. magnifier661

    magnifier661 B-A-N-A-N-A-S!

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  8. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    So he wants to sock it to everyone's pension and 401k.

    Ewwww. No thanks.

    Even a tiny fraction of a % of overhead does huge damage to fund growth over time.
     
  9. donkiez

    donkiez Well-Known Member

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    The tax is just on transactions so the average person would barely notice.

    Sent from my SPH-L720 using Tapatalk
     
  10. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    Transaction by the pensions and 401k etc. Hundreds of $billions, but nobody will notice?

    Think again...
     
  11. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    http://www.bankrate.com/finance/retirement/paying-401k-plan-1.aspx

    Research by Valletta's firm shows that total plan costs on a 100-participant plan with a $50,000 average account balance range from 0.36 percent to 1.71 percent.

    To put that in perspective, according to the Department of Labor, an employee with a 401(k) balance of $25,000 whose account makes a 7 percent return annually minus 0.5 percent in fees will see his balance hit about $227,000 by the time he retires 35 years later -- even if he makes no further contributions. Increase the fees to 1.5 percent, and that same employee's balance will drop to roughly $163,000 at retirement, a 28 percent reduction.
     
  12. donkiez

    donkiez Well-Known Member

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    Your posting numbers based on a tax of rate of return, which is not what Bernie's plan calls for. Bernie's plan taxes transactions, so its more like a sales tax on financials. The 0.5% is for stock trades which amounts to 50cents for every $100 traded and the cost to an American retire looking to liquidate his retirement would be a max of $500 for every $100k. Derivatives, bonds and foreign exchange transactions would get a smaller tax of 0.005% to 0.5%. The real target of this tax is automated high frequency trades. By the way there is already a small tax of this nature to fund the SEC, so its not without precedent.
     
  13. Denny Crane

    Denny Crane It's not even loaded! Staff Member Administrator

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    They're equivalent "taxes" on retirement accounts.

    The mutual fund you invest your 401K in does automated high frequency trades.

    The effect of the .5% tax would be the same as the .5% fee.

    Just look at how much tax revenue you think it will raise. That's coming from peoples' life savings (retirement). If the money is significant, it's significant (duh).
     
  14. jlprk

    jlprk The ESPN mod is insane.

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  15. magnifier661

    magnifier661 B-A-N-A-N-A-S!

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  16. MickZagger

    MickZagger Well-Known Member

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    Bernie's the man!

    He's been fighting the good fight for years:

     
  17. jlprk

    jlprk The ESPN mod is insane.

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    I watched the whole thing! Good stuff. I'm for Bernie.
     
  18. MARIS61

    MARIS61 Real American

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    Same as America. As far as the middle class supporting both the poor and the rich anyway.
     

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