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 ...
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.
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.
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".
I’ll give up everything if my taxes go down and the IRS disappears.
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).
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%.
is flat tax the same thing as consumption tax?
if not, why wouldn’t a consumption tax be better?
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.
Screw April 15th, Nov. 01; wanna bet what that would do to Nov. 02 elections every other year?
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.
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%?
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...
A flat tax would be fine if it includes all payroll taxes.
Exactly.
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
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.
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.
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