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Worldwide Trend toward Flat Taxes Should Guide Congress, Nation's Largest Taxpayer Group Says
NTU ^
| 01/07/2008
| Peter J. Sepp, Natasha Altamirano
Posted on 02/02/2008 11:54:59 AM PST by xcamel
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The 800-pound gorilla that other tax plans (dreams?) ignore..
Fact is, Flat taxation works as evidenced by the 36 countries (280 million people) that have adopted similar (and wildly popular) plans in the last 30 years
1
posted on
02/02/2008 11:55:02 AM PST
by
xcamel
To: xcamel
Countdown to the FairTax kooks spamming the thread 3...2...1
2
posted on
02/02/2008 11:55:44 AM PST
by
Extremely Extreme Extremist
(The Constitution does not give me the authority to run your life - Ron Paul)
To: xcamel
3
posted on
02/02/2008 11:58:25 AM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: xcamel
What amazes me is that Rangle, who has no formal training in economics, is in charge of overhauling the tax code. Well, Charlie, it doesn’t need to be overhauled. It needs to be thrown out. We realize that you would have to give up a little power for a flat (or Fair) tax, but that’s what the American people want...even if it isn’t what you want.
4
posted on
02/02/2008 12:00:06 PM PST
by
econjack
(Some people are as dumb as soup.)
To: Extremely Extreme Extremist
Countdown to the FairTax kooks spamming the thread 3...2...1 I think it’s unfair to call people who support the Fair Tax "kooks." There’s some good reasons why the Fair Tax should be considered, especially if they drop the prebate idea. The Flat Tax, however, should have the least bureaucracy associated with it.
5
posted on
02/02/2008 12:04:54 PM PST
by
econjack
(Some people are as dumb as soup.)
To: xcamel
Unfortunately, the Congress seems to have chosen Vladimir Ilyich Lenin as a guide.
6
posted on
02/02/2008 12:07:59 PM PST
by
mike-zed
To: Extremely Extreme Extremist
Worldwide Trend toward Flat Taxes Should Guide Congress, Nation's Largest Taxpayer Group Says, Hah!! The worldwide trend has been for countries to earnestly explore/tap into off-shore oil. Something no one can ever blame the U.S. for doing. Unfortunately.
7
posted on
02/02/2008 12:08:09 PM PST
by
yankeedame
("Oh, I can take it but I'd much rather dish it out.")
To: xcamel
"A single-rate tax would create a more simplified and transparent Tax Code," NTU So if we go from several progressive tax rates to a single rate, all of a sudden loopholes, deductions, incentives, the bureacracy, armies of accountants, and tax attorneys just disappear? Believers must be potheads.
To: yankeedame
That is an entirely different topic...
9
posted on
02/02/2008 12:10:01 PM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: xcamel
Fact is, Flat taxation works as evidenced by the 36 countries (280 million people) that have adopted similar (and wildly popular) plans in the last 30 yearsAre any of them capitalist countries?
10
posted on
02/02/2008 12:11:31 PM PST
by
Glenn
(Free Venezuela!)
To: Glenn
11
posted on
02/02/2008 12:14:32 PM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: econjack
The Heritage Foundation has weighed in heavily on this:
http://www.heritage.org/Research/features/issues/issuearea/Taxes.cfm
But according to some, they are just another group of Marxists.
12
posted on
02/02/2008 12:16:34 PM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: LoneRangerMassachusetts
13
posted on
02/02/2008 12:21:25 PM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: xcamel
President Reagan was hinting around about a flat tax during his first term. I was hoping that he would push one after the 84 election but........
14
posted on
02/02/2008 12:29:16 PM PST
by
Roccus
(Nose-holder voter)
To: Roccus
He and his economic advisers did manage to convince a fair number of eastern European countries to do it, and for their size, they’re rocking now...
15
posted on
02/02/2008 12:42:44 PM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: xcamel
I don't doubt the effectiveness of a flat income tax rate, but some of these anecdotal stories from other countries are a bit misleading.
Russia, for example, adopted a "flat income tax" rate some time ago. But from what I've read, the Russian government actually gets more revenue from a payroll tax system that is far more dysfunctional than ours. The result is that the flat income tax rate doesn't have quite the same impact as one might have expected in that case.
16
posted on
02/02/2008 1:13:33 PM PST
by
Alberta's Child
(I'm out on the outskirts of nowhere . . . with ghosts on my trail, chasing me there.)
To: LoneRangerMassachusetts
Ain't that the truth. As I sit here doing my dang taxes, knowing once again I will pay more than is withheld with zero claimed; I also realize this country would come apart at the seams if a flat tax was instituted overnight.
If only the repubs & dems could start towards that flat tax direction; dreaming I guess.
17
posted on
02/02/2008 1:16:38 PM PST
by
Eska
( the re)
To: LoneRangerMassachusetts
Exactly!
No matter how many income levels and tax rates the IRS comes up with it is a relatively simple thing to read your taxes owed off a table once you know your taxable income.
The complicated part about filling out a tax form is adding up all the different things that constitute income and subtracting all of the different things that are counted as deductions.
Bush, and even Thompson, who claim to be for tax simplification are/were contantly supporting tax "incentives", etc. which amount to additional pages of tax code leading to further complication.
Personally I would be willing to accept a little bit of progressivity in the tax schedule in exchange for the elimination of all or most deductions and "incentives".
We should do this for corporations first. No more "incentives" to invest in solar, or whatever other harebrained ideas they have. Just total up the profits and slap on a tax.
If so, then the job of "tax attorney" might be eliminated in our time.
To: who_would_fardels_bear
As an aside.. about 1300 pages of tax code (not legal rulings) to figure your income tax - and another 15,000 pages of "social engineering"
"Taxes should be uncomfortable. Not especially painful, mind you -- just a bit irritating. Enough to make you pay attention. Modest discomfort is an element of citizenship, reminding voters of the price they pay for civilized society."
(thank you, Justice Holmes)
19
posted on
02/02/2008 1:32:36 PM PST
by
xcamel
(Two-hand-voting now in play - One on lever, other holding nose.)
To: Roccus
That was Friedman talking and he played an extremely important behind-the-scenes role in Reagan’s economic policies. He advocated a 17% flat tax rate. I was lucky enough to meet him twice and was (and still am) absolutely in awe of his intellect.
20
posted on
02/02/2008 3:00:45 PM PST
by
econjack
(Some people are as dumb as soup.)
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