Posted on 04/19/2019 11:45:17 AM PDT by Brian Griffin
The posted schedule was simply for explanation of the terms ‘rate’ and ‘rate threshold’.
In the age of TurboTax, millions of people have never seen a tax rate schedule.
The rates that the amendments would be based on would be the so-called ‘Trump’ tax rates that were law as of January 1, 2019, as stated near the top of my posting.
I am proposing caps on tax rates.
Right now, there are no constitutional limits on income tax rates. If a Democratic Congress wants 70% of your income, it can levy a 70% rate on your income.
I don’t have the Internet at home, so I had to make up a schedule instead of downloading the lastest IRS schedule.
Single Filers
$0 - $9,700 10%
$9,701 - $39,475 12%
$39,476 - $84,200 22%
$84,201 - $160,725 24%
I believe those are the January 1, 2019 rates of interest for single filers.
If you really want to cap income tax, why not make it simple and have a flat tax?
The progressive tax scheme is just a shell game. Heck even your plan, assuming 100k of income, filing jointly, with two kids, is about the same as it is now (actually I think your way is a touch higher).
If we have to have an income tax, it needs to be flat and needs to apply to all income (make one dollar pay 10%, make a million pay 10%)
The last, and in my mind the most important part, is to remove withholding. Americans are numb to taxes and since it is taken from the check before they see it, it does not burden them. Burden the American tax payer with tax collectors at their door, and I think you will be surprised how many Americans start caring about where their hard earned dollars are going.
“Twenty-five percent tax on income over $66,000? Property taxes of $6000 on an average home? You’re doing the leftists work for them.”
It’s at least 22% now for single filers.
My guess was 3% (25% vs. 22%) off.
Are the feathers on hand and the tar hot?
A 2,200 square foot home is considerably above average in size. On my street, most homes are about 1,000 square feet,+-200 square feet.
A 2,200 square foot home in my area of Florida without water frontage would have an average tax of around $3,500 if bought recently and would continue to have such a tax.
A federal constitutional cap on real property taxation has to be set a level that only forces a few states to have make adjustments.
New York State would have to share income tax revenue more fairly with Metro NYC school districts.
“why not make it simple and have a flat tax?”
Our country has traveled too far down Communist Manifesto Way for absolute flat rate taxation.
Lower income people often pay large percentages of their income in sin taxation.
Bear in mind, the refundable tax credit schemes are the worst feature of our system.
So you’re a Millennial looking to screw your elders out of what they’ve been putting into for decades?
The elders have been taking out far more in medical expenses than they put in for, however, with it only projected to get worse:
https://www.pgpf.org/chart-archive/0087_medicare_financing
No man is ever free if he must pay the government for permission to live in his own home or on his own land. Any amendment must eliminate all taxes and the ability of any future government or governmental entity to levy any tax or fee on the real property of any individual or family. No exceptions for size or location or use.
Government would never allow withildings to be discontinued because it is too convenient of a method.
“The Congress had the power to tax incomes before the 16th Amendment.”
No, it didn’t. Lincoln tried it and SCOTUS slapped it down. Have you ever actually taken a class in American history?
L
Perhaps you simply assumed.
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