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Pence touts flat tax in economic address
CNN ^

Posted on 11/29/2010 11:12:15 AM PST by Sub-Driver

Pence touts flat tax in economic address By: CNN Deputy Political Director Paul Steinhauser

(CNN) - One of the top Republicans in the House wants to overhaul the country's tax code and implement a flat tax.

Rep. Mike Pence of Indiana, who may make a bid for the next GOP presidential nomination, will say "the time has come for Congress and this administration to take bold action to simplify our tax system and lower people's taxes," according to excerpts from a speech he will deliver in front of the Detroit Economic Club Monday afternoon.

"The best option, the most pro-growth option is a flat tax. I believe it is time that America adopted a flat tax and scrapped the current system once and for all," Pence will say.

A flat tax, which has been proposed in the past by other conservative candidates for president, is short for a flat rate tax, a tax system with a constant rate for all Americans.

(Excerpt) Read more at politicalticker.blogs.cnn.com ...


TOPICS: Front Page News; News/Current Events; Politics/Elections
KEYWORDS: fairtax; flattax; pence; taxes
I'd say he's throwing his hat into the ring....
1 posted on 11/29/2010 11:12:19 AM PST by Sub-Driver
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To: Sub-Driver
No Mike---not "flat tax" but FAIR TAX!
2 posted on 11/29/2010 11:15:10 AM PST by Virginia Ridgerunner (Sarah Palin has crossed the Rubicon!)
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To: Sub-Driver

Yeah that’s it, call for a flat tax. Then they can compromise with a flatter tax, and the govt grows every larger. The time for fiddling under the hood is over. The time is now to dump income taxes completely and revamp the tax system. I don’t know about you, but the system we have now is set up to be changed and shaped at will by our “servants” and until that ends, we will always have to scratch and claw our way as a nation back from the brink. It is time to take away the power to tax us on our labor and give the money to favored groups.


3 posted on 11/29/2010 11:16:06 AM PST by runninglips (Don't support the Republican party, work to "fundamentally change" it...conservative would be nice)
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To: Sub-Driver

A flat tax (or tax simplification) implies that everyone will have to give up his or her favorite deduction in favor of a SIMPLE flat rate ( and of course, taking the IRS off our collective backs ).

The question is and always has been this — how do you REALLY implement it? The moment you propose one, you’d have thousands of voices chanting for the retention of such favorites as -— mortgage deductions, deductions for children, dependents, etc, etc.

Heck even some members of FR are not willing to give up some of their favorite tax deductions.


4 posted on 11/29/2010 11:19:33 AM PST by SeekAndFind
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To: Sub-Driver
...according to excerpts from a speech he will deliver in front of the Detroit Economic Club Monday afternoon.

Detroit has an "Economic Club"? That's rich...I suppose San Francisco has a "Monogamous Heterosexuals Club". And of course D.C. has a "Humble-Servants-Not-Interested-In-Money-And-Power Club".

5 posted on 11/29/2010 11:22:05 AM PST by opus86
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To: SeekAndFind

I’ll give up everything if my taxes go down and the IRS disappears.


6 posted on 11/29/2010 11:23:46 AM PST by crusty old prospector
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To: crusty old prospector

RE: I’ll give up everything if my taxes go down and the IRS disappears.


Well, that’s the spirit. If the majority of Americans think like this, we just might have real hope and change (for the better even).


7 posted on 11/29/2010 11:25:46 AM PST by SeekAndFind
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To: Virginia Ridgerunner

The Huckabee plan would be a hardship on seniors who have small or no pensions and fixed incomes. Their functional cash flow leverage would be cut by 23%.


8 posted on 11/29/2010 11:35:57 AM PST by Baynative (on to 2012)
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To: crusty old prospector
I’ll give up everything if my taxes go down and the IRS disappears.

See, that is their plan. The IRS ends as the tax code enforcer and becomes the ObamaCare enforcer! Government never shrinks and the "government servants" get to tell us, the peasants, that they have made things better!

I am all for real change, but I am afraid that this will just be another shell game! In the end, we working, "tax paying" Americans will continue to work and pay and those others will not!
9 posted on 11/29/2010 11:37:55 AM PST by ExTxMarine (Hey Congress: Go Conservative or Go home!)
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To: Sub-Driver

is flat tax the same thing as consumption tax?

if not, why wouldn’t a consumption tax be better?


10 posted on 11/29/2010 11:40:26 AM PST by ncpatriot
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To: SeekAndFind
The "Fair Tax" can be bastardized as much as any other tax and on top of that they lie to us at the beginning about the numbers: It is not ten percent but more.

I would like a flat tax of ten percent with NO deductions. Yes, I am willing to give up deductions with a flat tax.

Why ten percent you ask? Because if tithing to our Lord God is ten percent then it is good enough for the Government since the Government is not above God.

On a final note we need to stop the payroll deductions. Everyone must write a check for their ten percent on April 15th. That way they see the amount of money they actually pay and it will be harder for politicians to increase taxes.

11 posted on 11/29/2010 11:46:29 AM PST by OldMissileer (Atlas, Titan, Minuteman, PK. Winners of the Cold War)
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To: OldMissileer

Screw April 15th, Nov. 01; wanna bet what that would do to Nov. 02 elections every other year?


12 posted on 11/29/2010 11:49:34 AM PST by Michael Barnes (Guilty of being White.)
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To: SeekAndFind
The best thing about a flat tax with no deductions, is that it will make high tax states pay for their own high tax system.

End tax deductions for state and local taxes and big liberal cities/states are out of business. They couldn't pass all the taxes if nobody could deduct them. Ditto for high property taxes.

13 posted on 11/29/2010 11:50:06 AM PST by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Baynative

SS checks are taxed as income is taxed. Also, the fair tax provides for a monthly prebate to everyone for the amount of spending up to the poverty level. I believe that amount is currently $400 per month. Would $400 per month and no taxes on their SS checks cover that 23%?


14 posted on 11/29/2010 11:57:31 AM PST by stefanbatory (Insert witty tagline here)
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To: Virginia Ridgerunner

at this point either will work...but I agree the better is a consumption tax...much more efficient, more bottom line margin for the government and it removes citizens as targets...


15 posted on 11/29/2010 11:59:25 AM PST by surfer (To err is human, to really foul things up takes a Democrat, don't expect the GOP to have the answer!)
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To: Sub-Driver

A flat tax would be fine if it includes all payroll taxes.


16 posted on 11/29/2010 12:03:49 PM PST by devere
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To: devere

Exactly.


17 posted on 11/29/2010 12:04:34 PM PST by palmer (Cooperating with Obama = helping him extend the depression and implement socialism.)
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To: Virginia Ridgerunner

no that is a scam (fairtax or fairscam)

It has a monthly rebate or welfare check, ALL people have to register with NuIRS, the government determins what is or is not a family, AND all the lobbyists will be permanently fixated on having their clients products declared a necesity or expempt for the sales tax.

A flat tax is vastly superior to the convoluted scam contained in that proposal. http://www.thomas.gov


18 posted on 11/29/2010 12:05:12 PM PST by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: ncpatriot
is flat tax the same thing as consumption tax? if not, why wouldn’t a consumption tax be better?

No, the Flat Tax still ONLY penalizes the productive element of society, while failing to reach those who don't contribute to the overall economy.

The Fair Tax is a tax on consumption, not production. Implementing a consumption tax (NOT a VAT) would cause everyone who spends money to have some skin in the game.

I don't know that the current Fair Tax (as written) is the way to go, but the basic concept is far superior to a progressive income tax, or a flat tax, which are both taxes on productive behavior.

19 posted on 11/29/2010 12:16:01 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: Baynative

It’s not the Huckabee plan-—he’s just trying to jump out in front of the Fair Tax parade.

Just for the record-—I detest the Huckster.


20 posted on 11/29/2010 12:17:51 PM PST by Virginia Ridgerunner (Sarah Palin has crossed the Rubicon!)
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To: Sub-Driver

If you go out into a pasture and find a big juicy cowpie and FLATTEN it, it’s still a cow pie. And it still stinks.

The income tax is fundamentally flawed, as are all forms of direct taxation.

Tax consumption, at the retail level only. Problem solved.

Note to self: Scratch Pence.


21 posted on 11/29/2010 12:19:56 PM PST by EternalVigilance (There is nothing that Communists do better than winning in a morally relativistic universe.)
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To: Baynative

The Huckabee plan would be a hardship on seniors who have small or no pensions and fixed incomes. Their functional cash flow leverage would be cut by 23%.

That was used in the last election cycle in ads in Pennsylvania, by every Democrat who was up against a GOP opponent who had ever spoken kindly of the Fair Tax or flat taxes in general. And sadly, it was quite effective.


22 posted on 11/29/2010 12:23:50 PM PST by Buckeye McFrog
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To: Buckeye McFrog

Actually, they’ve tried running those lying ads for years, and it’s never been effective.


23 posted on 11/29/2010 12:43:15 PM PST by EternalVigilance (There is nothing that Communists do better than winning in a morally relativistic universe.)
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To: Sub-Driver
"In his speech, Pence also highlights his opposition to TARP, known more commonly as the Wall Street bailout, and his support for less federal government spending and fewer regulations on the private sector."


He is one of the few being mentioned as a potential Presidential candidate who actually opposed the Bush backed TARP plan. He not only opposed it, he led the opposition.
24 posted on 11/29/2010 3:02:37 PM PST by rob777
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To: stefanbatory
"I believe that amount is currently $400 per month. Would $400 per month and no taxes on their SS checks cover that 23%?"

Thanks for that info. (The other people ragging on me for bringing the point up didn't mention the prebate part) I am trying top figure how the percentages would work based on my mother's monthly expenses.

She gets just over 900 a month after being dinged for Medicare. Her usual bills and spending total about 600 with a local sales tax of 8.5%, or $51Bucks. That usually leaves her about $250 that we try to save for emergencies and unexpected expenditures like high heating bills n winter.

If I am figuring right the added Fair Tax bump would give her $1,300 and with no adjustment for inflation her spending of about $600 would be taxed at 23% or $138. This seems to look as though she would do a bit better on the Fair Tax if we aren't being sold a bill of goods.

25 posted on 11/29/2010 5:19:22 PM PST by Baynative (on to 2012)
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To: rob777
Pence made this statement about Presidential deportment recently:

"Whereas the president must be cautious, dutiful, and deferential at home, his character must change abroad. Were he to ask for a primer on how to act in relation to other states, which no holder of the office has needed to this point, and were that primer to be written by the American people, whether of 1776 or 2010, you can be confident that it would contain the following instructions:

You do not bow to kings. Outside our shores, the President of the United States of America bows to no man. When in foreign lands, you do not criticize your own country. You do not argue the case against the United States, but the case for it. You do not apologize to the enemies of the United States. Should you be confused, a country, people, or region that harbors, shelters, supports, encourages, or cheers attacks upon our country or the slaughter of our friends and families are enemies of the United States. And, to repeat, you do not apologize to them."

26 posted on 11/29/2010 5:22:58 PM PST by Baynative (on to 2012)
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To: Virginia Ridgerunner

No, not the Fair Tax the Flat Tax YES!!!!!!!!!!
As I have argued over and over the Fair Tax is screw city.


27 posted on 11/29/2010 6:25:06 PM PST by Allen In Texas Hill Country
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To: STARWISE; ForGod'sSake; AdmSmith; Arthur Wildfire! March; Berosus; bigheadfred; ColdOne; ...
"The best option, the most pro-growth option is a flat tax. I believe it is time that America adopted a flat tax and scrapped the current system once and for all," Pence will say. A flat tax, which has been proposed in the past by other conservative candidates for president, is short for a flat rate tax, a tax system with a constant rate for all Americans.
Thanks Sub-Driver.


28 posted on 11/29/2010 7:25:28 PM PST by SunkenCiv (The 2nd Amendment follows right behind the 1st because some people are hard of hearing.)
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