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RE: OT : does 2 really come after 1

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Chris, 
The point of my post was to show that money which as already been taxed is
taxed again no matter how many times we use it. The difference is that in
some cases the money that is taxed a multiple time become an tax offset to
you such as medical or other Schedule A deductions after the minimum
requirement is met. However most of the money in circulation ultimately goes
back to the government whether the Republicans or the Democrats are in
office. The argument of who gives more back to the public doesn't hold as
the one who gives the most back gets it back in cuts to other programs that
we end up paying for.

There is only so much in circulation and the greatest recipient of our
earnings is the federal and state governments by multiple taxation. In all
rights we should be able to deduct anything that is paid to someone who has
to pay tax on this money the same as any business gets the tax deduction for
money paid to consultants and services necessary to run their businesses.

Dennis


Dennis S. Wish, PE


California Professional Engineer

Structural Engineering Consultant

dennis.wish(--nospam--at)verizon.net

http://www.structuralist.net

 

"Apathy is Lethal!" Speak out and Vote - but make sure you get the facts
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-----Original Message-----
From: Christopher Wright [mailto:chrisw(--nospam--at)skypoint.com] 
Sent: Sunday, October 31, 2004 5:03 PM
To: seaint(--nospam--at)seaint.org
Subject: Re: OT : does 2 really come after 1


On Oct 31, 2004, at 1:18 PM, Jake Watson wrote:

> How is it that
> our economy today is worth more than 100x what it was 200 years ago?  
> How do
> I become the person who gets to introduce money into the economy?
It's really a double entry process. The haircut is also part of the 
economy even though it isn't money. When you've left the barber shop, 
your value is increased by the haircut and the barber's value has 
increased by the price of the haircut. If it's a fair transaction the 
value of the haircut equals the price. If he's a fairly clever barber 
he pays less than the price of the haircut so he's ahead in money, but 
you're ahead in the sort of personal appearance that will help you get 
that big job you're working on. So actually the economy has grown a 
little as a result of the transaction. As a result, while the amount of 
money is circulation hasn't changed the economy has grown.

> Even if I borrow money, someone
> has to have the money in the first place to loan it to me.
Not necessarily. Actual cash doesn't have to change hands during a 
loan. Banks very frequently loan out money they don't have as paper 
transactions, with the idea that they'll get paid back before the owner 
of the money actually needs it. In a way it's like working with a 
margin account or a bookie. You call up the bookie and place a bet, the 
idea being that if I win, he'll pay me and if I lose, I'll pay him. In 
effect a lot of people end up using the bookie's capital 
simultaneously--the bookie pays off the winners with the money he gets 
from the losers.
Christopher Wright P.E. |"They couldn't hit an elephant at
chrisw(--nospam--at)skypoint.com    | this distance" (last words of Gen.
...................................| John Sedgwick, Spotsylvania 1864)
http://www.skypoint.com/~chrisw/


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