Posted on 04/19/2014 11:09:17 AM PDT by SeekAndFind
You are right, right, right…..
Bingo. look at last years tax return then take out the property tax and mortgage interest rate deduction as well as your $2,500 personal deduction. Then tax your full gross income at 20% which is what they want to do. You will pay more everytime.
“•“Look at Romney paying less taxes”
•“I think the wealthy should pay as much as the poor percentage-wise equally”
•“I heard too many stories of loopholes that the wealthy figure out how to get out of taxes”
•“Fair share—same percentage”
Most people don’t realize that Romney and most rich people are taxed at the capital gains rate of 15% since they don’t W-2 themselves. They take interest and dividends and pay the capital gains rate. They get this rate because they are job creators and business entrepenuers who invest their money and take chances to build and run business’s. The average Joe does not do that.
This flat tax is a really good idea for Paul Ryan and the tax collectors. A really bad idea for you and me. What we really need is a Fair Tax. Everybody pays it and your lifestyle dictates how much tax you pay. Your choice.
RE: I prefer the “Fair Tax” over the Flat Tax.
The problem (still) with the flat tax is this — What constitutes income?
That doesn’t neuter the IRS at all. It does simplifies the tax code but “income” is still defined by Congress and still confiscated by the IRS.
For instance, Will your estate still be FLATLY taxed after you die?
If the answer is yes, then the flat tax STILL does not disempower the IRS.
In other words government has grown so dramatically in the past several decades, the only way to stop it is to stop feeding it. Substantially reducing the size of government will never happen unless we reduce the payroll/revenue it consumes.
Again, this will never happen unless the tax structure is completely changed and that change must include hundreds of billions less every year the government operates on, putting the money back into the pockets of Americans. There is no other way
Depends on what they call income. We know we have millions who are receiving their payment in all cash. Millions of others are living entirely on funds from EBT, WICK, housing subsistance, etc. These people would still end up paying nothing.
IMO if we are going to push for changes in taxes all current Federal taxes and fees should be abolished and use a consumption tax on everything but groceries. That would hit everyone.
Jim, this is THE answer to MOST of our nations woes:
“Reduce the federal government to only those functions enumerated and delegated to it by the U.S. Constitution and you reduce the federal budget by about 90%. The largest item would be national defense. All other functions to be returned to the states and the people to decide per the 10th amendment.”
BRAVO!!!
This is discussed year in and year out...Over and over and over.
The reason this punitive tax structure is never ending and never dramatically changes to the benefit of tax payers, is because the government does not want to do anything which will affect the massive amount of money government consumes.
End of story.
Only matters what the oligarchs want.
A consumption tax, on the other hand, could be much simpler.
;>]
No damn way, if you don’t like paying taxes read the tax code and use it to NOT PAY TAXES!
I get screwed royally under a flat tax!!!
We were raped enough by the 1986 “Tax Simplifacation Tax”, which was the biggest tax increase in history!
“We need a simplified code to make it easier to comply.
Yes. The fact that many of us need to hire an accountant to make sense of this mess is another substantial expense.
At 15% flat tax, $20,000 income would mean a $3000 flat tax. That's $250 a month. It's enough to have everyone have everyone invested in keeping government spending in check, and a flat tax would create a sense of "we're in this together".
And a lot of people would not have the headache of having to pay someone to do their taxes. There is no downside to a flat tax.
RE: How about NO tax.Tax corporations/businesses. Everyone (except corporations and business) say they don't pay taxes.
How do you run the government with that?
Agree that the flat tax is the best answer.
people answer that way because they think they are paying more taxes than they currently are.
The average person thinks the amounts taken out for social security and medicare are part of their income taxes. When the fact is most neither are and most people currently pay no income tax.
Once they realized that a flat tax would mean THEY would actually pay A LOT more than they currently are, they would turn against it faster than you could say jack robertson.
You’re right about that. I know it certainly won’t end in my lifetime except that I do think the percentage floor on deductions will continue to go up and the number of deductions will continue to decline.
The 25-something generation is not going to be buying any houses soon so that will do away with real estate taxes and interest payment. I also doubt if they make any significant donations to either charities or their church so there goes that. Slowly but surely the government is whittling everything down so we will all be filing on a short form.
Talking about changes to taxes IRS is on a par with discussing who will be the presidential candidates in 2016.
I support a reasonable flat tax. Everyone should have skin in the game. I don’t care how much or how little you make, whether it’s wages, salary, unemployment, welfare, or something else, no one should be exempt from paying some tax. And no “earned income credit” That amounts to nothing but unearned income credit, courtesy of the rest of us. I support myself and my family. The rest of you do the same. Your kids are not my kids; don’t expect me to feed them.
Unless the idea that Lindner and Neal Boortz kept pitching with the Fair Tax, the government pays a portion back for food and medicine to everyone, the Fair Tax is DEAD IN THE WATER as far as I’m concerned.
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