Posted on 05/28/2013 8:09:44 AM PDT by SeekAndFind
fix?? that seems to be what is attempted every year, and more and more rules, regs and other b.s. is added....
TOO BAD if folks planned on the tax code remaining more or less the same...
start it over.....
A sales tax AND an income tax? No way!
You can’t fix STUPID!
Fixing taxes is like taking drugs from Rock Stars.
Large corporations and businesses like the tax code just fine the way it is. You get the what you lobby for.
You can fix the tax code by nothing short of reducing it to one page. 9% no deductions no exemptions on all earned income. Tax business the same or no tax on business at all. If you couple that with 95% reduction in regulation of business prosperity will explode for everyone. Unfortunately the government will also get much more in revenue. Perhaps we need to make that an initial 9% with a 5% reduction in the rate annually. Make it an Amendment so Congress can’t fiddle with it.
The way to “correct” the tax code would be to change it such that the IRS could not be used as a tool to violate the rights of the citizenry.
Flat tax doesn’t get rid of the IRS.
He's saying this like it's a bad thing. Right now, the top 10% of income earners in the US carry almost 70% of the federal income tax load. The lowest 51% pay nothing. To me, if you don't have anything in the game, you don't get to play. This means 51% of the population shouldn't have the right to vote in federal elections. Raising rates on those 51% doesn't bother me in the least. I think a flat tax of 17% (Friedman's rate) with a $20K personal deduction would work. Saying you can't make this kind of change because businesses have made their plans based on the current tax code is a specious argument at best. Businesses adjust to changing tax codes all the time. With the flat tax, you could file your return on a postcard. As it is now, try calling the IRS to answer a complex tax question...five calls, five different answers. They don't even know the answers. Nope...it's time to scrap the current tax code and I think a flat tax is the best alternative.
Little things like the accelerated depreciation allotment for various industries, like NASCAR tracks, and corporate jet values. These add up, and explain why a flat tax is so despised by the actual lobbyest controlled government of our country.
My suggestion? Any public employee, from dog catcher to senator, who accepts a bribe dies, screaming, for the first offense. (You wouldn't have to do it too many times for even Democrats to get the point...)
There still needs to be a tax collection entity, but the flat tax would massively change it’s scope and purpose. It would need to verify revenue and income sources, and that’s it.
The author NEVER once attempts to define what “fix” means. He probably wants to bring back the 92% maximum income tax rate.
Exactly. It just kills me to hear Obozo say: "The rich fat cats are taking advantages of loopholes in the tax code to get richer." And the bulk of the electorate is so stupid they nod their heads in agreement. Wake up, you idiots! Who do you think wrote those loopholes into the tax code in the first place? Your elected representative did it so they can get your hard-earned money and give it away to some deadbeat in Cleveland who wants a free cell phone. "Splain that to me, Lucy."
As if low income and the middle class hasn't been paying taxes. They are! But with debt. That will have to be paid at some point. A large company and such can simply move to another country. Debt does not trouble them at all. Pile it onto the citizen.
We need a flat tax that gets rid of every deduction for everything.
Put in a basic deduction for the first X amount for poverty level, and everyone pays the same flat rate for anything over that amount.
Married, single, wages, pension, interst earnings, capital gains, all taxed the same flat rate.
Repeal and replace the 16th amendment.
Put the actual % of flat tax in the amendment so it will require another amendment to the constitution to increase it. Everything is taxed, everyone pays the same amount, no exceptions or exemptions. The rich pay more because they will be buying more stuff. Even drug lords have to buy food and clothes, so you get at the massive underground economy.
The taxing of income, savings, profits is also made illegal. Just products and services (not transactions).
A Flat tax with a Cap of 5% on all forms of income.... PERIOD!
Put in a basic deduction for the first X amount for poverty level, and everyone pays the same flat rate for anything over that amount.
Make that deduction based of the GDP as well using a formula. So right now it would basically be forinstance:
The first 25,000 of income if not taxed be they Bill Gates or the school teacher..
Personally I think all federal taxes should be illegal and the federal government should be funded by Tariffs only.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.