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“I hear somolia has the lowest tax rates in the world…$0.00.

That figure is not true. In Somolia, direct taxes are imposed on income and profits, when officials can collect them. Tax rates on wages and salaries ranged from 0% to 18.9%. Income from trade and the professions was taxed at rates of up to 35%. Indirect taxes are imposed on imports, exports, mortgages, vehicle registration, sugar, alcohol, and a number of other goods and services. In 2003, Somolia’s sales tax rate was 10%.

Source: http://www.nationsencyclopedia.com/Africa/Somalia.html

NOLIESPLEASE, You are welcome for the correction. Next time please try not to tell a lie and base your argument on facts instead of hearsay. It just makes you look ignorant.

Indeed, supply-side tax cuts tilted towards big business and the wealthy are anti-stimulative during a deep recession, and do not lead to appreciable gains in revenue for cash-starved budgets.

When are these lies going to be recognized as lies concealed behind some slight-of-economic-formula-hand and die?

Reducing taxes does not stimulate economic activity. Economic activity is stimulated by the opportunity to make a decent product or provide a decent service that people want to buy at a price that yields a decent profit causes people to start a business. But it is up to the jobs that are created to actually stimulate the economy.

People who have needs AND money to spend expands the economy.

Paper profits on Wall Street derivatives are no indication of economic growth.

Just look at the recent bailouts; questionable Wall Street practices and products are a drain on the economy, and everyone who made a profit on Wall Street over the last 10 years should be charged a surtax to repay the Public Treasury for the harm they caused.

Reducing capital gains taxes encourages idleness in the midst of the ranks of the wealthy, and idle minds that create schemes leading to troubles for the rest of us.

Fools!

NoRantingTommy Says:
——————————————————————————–
I wish Atlanta could secede from GA. It is an island of progress in a sea of stupidity.

Not so, Tommy. Everyone in the rest of the state knows all too well that Atlanta is the economic engine of the state, witness the large bank here about to go under because of its gambles on your Real Estate. And we aren’t raving with the stupid either.

For that matter, Perdue. not from Atlanta or environs, gets a lot of grief when, in fact, all along he has been more moderate and sane and rational than those idiots in the State legislature, a large number of whom hail from those infamous Atlanta suburbs, which have put the patent on conservative. After all, where is the Newt’s original stomping grounds?
Perdue never has wanted to disavow the stimulus money. Our problem is that the Democratic party is a weak sister in the state with no viable charismatic leadership with the result that we end up with an overwhelmingly rigidly right state legislature falling all over itself to undo rational programs and policies: like allowing billboard companies to raze trees for a nominal fee and erect those god-awful billboards, as if we didn’t have enough already.

http://ugaliberal.blogspot.com/2009/05/governor-perdue-left-wing-republican.html

I am wondering when people in the US will start pointing to Somolia as the pre-eminant example of how well our lives would be if we we’re not burdened with taxes or regulations for that matter.

I’m sure the repugs would like to see a nation without taxes. So when is a reporter going to ask a repug that question????

HOW MUCH TAXES SHOULD WE PAY???? HOW MUCH TAXES SHOULD THE WEATHTY PAY???

$30 billion: Annual shortfall to end world hunger.

$550 billion: U.S. Defense budget.

Of course, OUR Governor Perdue is a Democrat, always supported the federal recovery package, and has been working her butt off to make sure North Carolina gets the most bang out of our share of it. And she hasn’t been a hypocrite.

Still — if you put “Gov. Perdue” in a headline, could you qualify it with a “Sonny” or a “Bev”?

HERE is a fact. Revenues DROPPED after Rayguns tax cut. HERE is a fact even Bushs own economic adivors like Mainkew and his other tax cuts enthusiasts admit that tax cuts do not even PAY FOR THEMSELVES much less increase revenue. It IS a fact that the economy boomed and had the longest peacetime expanision in HISTORY after the tax increase on the wealthy in 93 it is NOT a fact that this was due solely to the high tech bubble. Perhaps YOU should stop putting up YOUR opinion as FACT.

1. If we get rid of taxes altogether, the economy will be perfect.

2. If this actually worked, the economy would be wonderful right now. Bush’s tax cuts have not yet expired and Obama hasn’t raised any.

Inacurate… The cited article used to illustrate the point uses the last two supply-side cuts against only the 1993 tax increases. But those increases came at a point during the .com boom which exagerated actual wealth and resulted in the .com bust. Previous tax increases tell a far different story of economic slow down. Try telling the whole picture here, and refrain from printing opinion as fact.

Rural GA voters see anything that benefits Atlanta as “helping the darkies” and vote against it. They are too ignorant to realize that Atlanta is Georgia’s only real revenue generator.

Federal tax burden is relatively low and yet all that most republi-bots can do is tea-bag and complain. It’s about time someone stated the obvious. Thank you, Governor Perdue.

Another Planned NYC Military Fly Over Cancelled
ABC News – ?38 minutes ago?
By MARK CRUDELE and RICHARD ESPOSITO A military fly-over planned for New York City this morning was cancelled by the Federal Aviation Administration shortly before the plane was set to roar down the Hudson, over the harbor and up to Maine.
NYC Navy flight canceled 2 weeks after jet panic The Associated Press
Military flight over Hudson River canceled Times Herald-Record
Huffington Post – Wall Street Journal – Bloomberg – NJ.com
all 57 news articles »
http://news.google.com/news/more?pz=1&ned=us&ncl=d4a_nnFIU_A6oqMMWY1GAT7B3sHfM&topic=n