Posted on 12/21/2012 6:37:23 AM PST by Kaslin
Flat tax, no deductions.
Exactly. And I don’t care how many Freepers depend on that deduction - they can get off the government nipple.
Nothing will change until the majority of the Legislative Branch is thrown out. The tax code is the mother of crony capitalism, kickbacks, and economic meddling. Throw the bums out.
Gifts to charities should not be taxed with the following conditions: I would increase the charitable deductions incredibly but scrutinize the charities and people who claim the deductions themselves. Penalties for fraud regarding charity should be severe.
Government has a moral obligation to get out of the way and let people live.
Get the government out of charity and schooling
Repeal the 16th Amendment and go to the Fair Tax. That way, no need for the IRS looking at everyone’s income, and people are truly taxed on a voluntary basis.
One of the very few things that NJ does do right is that there is no tax on basic food and clothing.
Flat tax for all of the rest I agree with.
There is certainly more than enough to be taxed by eliminating those basic exceptions.
Still social engineering because then banks get a preference on mortgage loans over car loans, business loans, credit cards, etc. They already get to deduct their expenses in getting the money from savings accounts and CDs.
My preference is for a flat tax with a low rate and no deductions to remove all social engineering from the tax code. If you make more you pay more. If you want to donate money to a charity, well good for you but that is no business of the government whether you want to do it or not and whether it is a government approved charity or not. If you want to rent rather than buy, it's not the government's business.
I would like a consumption tax replacing the income tax all together even more so that most workers and consumers would never have to deal with any tax reporting again, but I see transition problems with it because it punishes the ants who earned, paid taxes and saved who would have to pay again but rewards the grasshoppers who borrowed and spent first.
"And I don’t care how many Freepers depend on that deduction - they can get off the government nipple."
Concur. I have a CPA do my taxes every year because the tax system is just too damned complicated.
I disagree. Buying a single family house to house and raise your family should be encouraged. This is where good citizens originate for the building up of a good and just society.
Speculation and other real estate risk activity should no way be exempt and the burden and taxes should be on the one who takes the risk.
Question: Would a severe limitation on second and third, etc... mortgages on primary residences - especially when children are involved - help assist in innocents from being thrown out on the street when a Ralph Kramden plan goes down the tubes?
The flat tax is still a graduated income tax that penalizes success!
Tax every human living in the country the same amount each year.
Screw the poor!!
Encourage whatever you want, just don’t use the tax code to do it. The only justification for the government confiscating the fruits of my labor is to raise revenue to fund legitimate government functions. Influencing behavior of individuals or corporations is not the Feds’ business.
A short sighted opinion.
Cutting the taxbreak will be deflationary. It will further suppress home values, making the average american much poorer.
Also, deductions are not the same thing as receiving a check from the government unless you assume that every dollar belongs to the feds and any money they let you keep is a subsidy. It is our money until the government confiscates it.
In my opinion, the entire house payment should be deductable, including the principal. It would encourage accumilation of capitol and create many jobs.
XVIII and XIX didn’t help, either. At least some had the intelligence to repeal XVIII.
I’ve got no problem with ending the big three deductions: state and local taxes, mortgage interest and charitable contributions.
They make no sense to me and never did.
Agreed that it’s short sighted. Reality says we won’t be getting a flat tax system. Therefore, if we give up the mortgage deduction we will end up with higher rates AND no major deductions. Lots of homeowners (myself included) are still making payments on homes which are significantly underwater, despite having paid 20% down and having good employment. Take away the mortgage deduction, and watch another round of Americans go into short sale, foreclosure, and bankruptcy.
and why the government should be in charge of directing where and how private capital is allocated you just accept as a given?
And why is that? Because home owners are better people than renters? Because people with mortgages are more noble than those who have paid off their home?
Garbage. You are spewing the same type of liberal garbage that is spewed about us needing gun control for the “good of the children” and about us needing affirmative action to right past injustices.
I say stick it to the Americans and Freepers who depend on the mortgage deduction. Then we lower rates that much further.
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