Thailand Politics

[Ehunter]

So, when did this become the USA Tax Forum? How about we get back on track? SW4

Not enough people on the ground giving mongering reports. That's why these other discussions are here. You will get over it I am sure. Heck, I cant even get an answer on my SOL question. Just not enough people mongering at this time so relax.

The rich through their lobbyists rig the tax code to their benefit resulting in an ever increasing inequality in income distribution, I. E. Profit versus wages. If you take out military spending the portion of GDP that the government takes in taxes is one of the lowest among developed economies. I'm aware it borrows the shortfall but if the suggestion is that rich Americans are paying too much in taxes sorry don't buy it.

Both the rich "and" non-rich parties rig the tax code. It is not just the rich. 200 hundred years of squabbling between the rich and poor brought us to the current balancing point. If the poor had the tax advantage, you would lean more socialistic. Leaning the other way weeds out the middle class and suppresses the poor even more.

I think every country evolves through this process, and Thailand is no exception.

Interesting comments regarding the military.

[Loveit]

Thanks for your unbiased and informative posts on the current polictal crisis in BKK. Just helps to know whats going on.

Cheers

[SirWilliam4]

So, when did this become the USA Tax Forum? How about we get back on track?

SW4

[Franciscass]

Damn, elections being held Sunday 2nd February? My flight lands BKK that morning. I'm guessing all bars will be closed, no alcohol to be sold for 3 days? Massage shops closed?

What's the real deal; what is shut down during general elections?

Cannot imagine elections will be held on Feb. 2nd. My take. This will in retrospect be seen as a landmark in Thai history, a battle between a peasant majority and privileged minority who feel intellectually and socially superior. However it plays out in the short term and my guess is a coup eventually democratic rule will be restored but not before Thaksin and his family are neutralized. Politics in Thailand is local and regional and once the Chidchops, Silpa Archs and the other noses in the trough realize who's calling the shots they will fall into line. That said, times they are a changing, the north has awoken and will be no longer settle for the crumbs from the rich man's table.

[Franciscass]

As this has nothing to do with the forum, I'll keep it brief and say no more. Your point about sales taxes, etcetera being a more severe burden for the poor is true. As to the tax rate for the wealthy: in 2010 the average tax rate for the top 1% was 23.39%, for the top 10% it was 18.46%, for the top 50% it was 13.06% and for the bottom 50% it was 2.37%.

No offence but the old adage of lies damn lies and statistics comes to mind. As in Thailand, in the USA money decides who gets elected. The rich through their lobbyists rig the tax code to their benefit resulting in an ever increasing inequality in income distribution, I. E. Profit versus wages. If you take out military spending the portion of GDP that the government takes in taxes is one of the lowest among developed economies. I'm aware it borrows the shortfall but if the suggestion is that rich Americans are paying too much in taxes sorry don't buy it.

[BionicMan]

Anybody have an update how the renovations at SOL are coming along?

I asked this a few pages back and nobody chimed back.

Check this with the US IRS, here guys are busy discussing US tax issues. No time for sex issues.

[Ehunter]

See my previous post. The actual average tax rate paid by the top 1% is ten times the actual tax rate paid by the bottom 50.

Fair is a subjective word. What you think is fair I may not think is fair and vise verse.

So should the top 1% have there taxes reduced to one-tenth the amount they currently pay? Should the bottom 50% have their taxes increased ten-fold? Should it be something in between? A flat tax means either the rich get a big tax reduction or the poor get a big tax increase.

Of course an alternative strategy would be to get rid of all the crooks in USA politics, put an end to the billions upon billions of dollars in pork wasted every year and reduce everyone's taxes. Thailand is not the only country with corrupt politicians who steal from the taxpayers. It happens in the USA, only on a much grander scale.

It is true that if our garden produces 10 tomatoes I should get 5 and you the other 5. That is fair. I acknowledge though that when politics and money are involved, the word fair can get twisted by surrounding rhetoric from others and their differing situations, so your point is well taken.

The answer about the 1% and reducing, the answer is yes, though I don't think flat tax can ever be realized. There are too many designed loop holes in USA society which would immediately re-classify the inequity all over again. All we would be doing by changing would be playing the whack-a-mole game to make things fair until kingdom come. Thai society, it seems, is suffering from the same left versus right politics as the USA, though I admit I know very little of what is going on in Thailand.

As one selfish bastard though, I would like to see the exchange rate tank to about 60Bht to 1 dollar after all this is over. Even though, we will still have a few clods here that will continue to complain about the prices.

[Paul Kausch]

Instead of paying the max 39 percent federal tax, they are able to weasel their tax bracket to the 10% range. Bottom line though, even though they do boast that they pay more taxes than anyone else, from a percentage perspective, it is not even close to being fair.

See my previous post. The actual average tax rate paid by the top 1% is ten times the actual tax rate paid by the bottom 50%.

Fair is a subjective word. What you think is fair I may not think is fair and vise verse.

To be fair, everyone should pay the same percentage wise.

So should the top 1% have there taxes reduced to one-tenth the amount they currently pay? Should the bottom 50% have their taxes increased ten-fold? Should it be something in between? A flat tax means either the rich get a big tax reduction or the poor get a big tax increase.

Of course an alternative strategy would be to get rid of all the crooks in USA politics, put an end to the billions upon billions of dollars in pork wasted every year and reduce everyone's taxes. Thailand is not the only country with corrupt politicians who steal from the taxpayers. It happens in the USA, only on a much grander scale.

[Ehunter]

Look at the last 2 Presidential elections in the USA. Almost 50% of Americans don't pay any federal taxes and they can vote.

Yes, but to keep this in perspective, those that don't pay are categorized as either not earning enough money, or due to special provisions in the tax code that benefit certain taxpayers, notably the elderly and working families with children.

In summary, one can say these people don't make enough money to pay taxes, but the reality is nobody can really buy anything and avoid the everyday sales tax. So I would say people pay at least the nominal 6-10 percent.

All these people should be allowed to vote, else the country turns more into a Cuban type government.

Coincidence!

Suthep and 200 of his whistle blowers on bicycles just drove through my Soi. A minute ago!

LOL.

Giotto

Did ya run out and hand him suitcase full of cash ? !

Sure, and among those 50% who don't pay taxes are the super-rich.

Not really true. Instead of paying the max 39 percent federal tax, they are able to weasel their tax bracket to the under 20% range. Bottom line though, even though they do boast that they pay more taxes than anyone else, from a percentage perspective, it is not even close to being fair.

[Paul Kausch]

Hi Paul,

Enjoy your posts. The reason why top earners in the US pay such a large percentage of total taxes is twofold.

Many Americans live hand to mouth thus not earning enough to pay much in federal income taxes (although they pay a lot of what little they earn in local and indirect taxes).

The highest paid receive such a disproportionally large portion of the national pie the figures you mention result but not because they pay a higher portion of their income. In fact people like Warren Buffett and Mitt Romney availing of classification of income anomalies (e. G. Earned interest) along with other deductions pay less than 20% tax.

As this has nothing to do with the forum, I'll keep it brief and say no more. Your point about sales taxes, etcetera being a more severe burden for the poor is true. As to the tax rate for the wealthy: in 2010 the average tax rate for the top 1% was 23.39%, for the top 10% it was 18.46%, for the top 50% it was 13.06% and for the bottom 50% it was 2.37%.

[Fatboy 1980]

Hello people,

I was planning on going to BKK Feb 4, but the current situation is making it appear less likely. I understand the election will be Feb 2nd, so I am just wondering what BKK will be like 2 days after. I was really looking forward to this trip.

[Franciscass]

In 2010 the wealthiest 10% of the US population paid 70.6% of all federal income taxes. The wealthiest 1% paid 37.4% of all federal income taxes.

Hi Paul,

Enjoy your posts. The reason why top earners in the US pay such a large percentage of total taxes is twofold.

Many Americans live hand to mouth thus not earning enough to pay much in federal income taxes (although they pay a lot of what little they earn in local and indirect taxes).

The highest paid receive such a disproportionally large portion of the national pie the figures you mention result but not because they pay a higher portion of their income. In fact people like Warren Buffett and Mitt Romney availing of classification of income anomalies (e. G. Earned interest) along with other deductions pay less than 20% tax.

[Wendella]

In 2010 the wealthiest 10% of the US population paid 70.6% of all federal income taxes. The wealthiest 1% paid 37.4% of all federal income taxes.

I think this whole thread of conversation belongs in the USA section of the internationalpartisanpoliticsguide.info

Can we please get back to talking about things that are important, such as ping pong balls?

[Paul Kausch]

Look at the last 2 Presidential elections in the USA. Almost 50% of Americans don't pay any federal taxes and they can vote. They got what the deserve though, Ha! Ha! For the stupid voters who have no skin in the game. As was noted that's the democratic way. Once the pendulum swings far enough to the right or left it will come back the other way. Like the weather – it's a giant cycle.

Sure, and among those 50% who don't pay taxes are the super-rich.

In 2010 the wealthiest 10% of the US population paid 70.6% of all federal income taxes. The wealthiest 1% paid 37.4% of all federal income taxes.

[Wolvenvacht]

Look at the last 2 Presidential elections in the USA. Almost 50% of Americans don't pay any federal taxes and they can vote.

Sure, and among those 50% who don't pay taxes are the super-rich.