Rand Paul calls for 14.5 percent flat tax

The Hill ^ | 06/18/2015 | Bernie Becker

[Paulie]

Sure do, why?

[C. Edmund Wright]

oh for two......estate and gift taxes are only a tiny bit of accounting and attorney tax issues.....and to say that a simpler tax system (whatever it is) would INCREASE the avoidance costs compared to today is just a non starter.

[C. Edmund Wright]

Because if you knew what a business deduction was, there would be no way you would support doing away with business deductions. I’m not talking about the abuse of deductions, I’m talking about the generic notion of business deductions.

[bigdaddy45]

His tax plan ALONE. That doesn’t include other normal economic growth.

Reading comprehension... it’s your friend.

[semimojo]

The nice things about a flat tax are everyone’s got some skin in the game and those with the best tax accountants don’t get to pay less

Theoretically true if you eliminate all deductions, although I'm sure good accountants could still manipulate "income" for businesses - large and small. As long as you allow deductions you'll have tax accountants.

[Paulie]

I take it you’re gunning for some long, drawn out debate to ‘prove’ your pointless point of view?

Thanks but I have better things to do with my time.

I’m sure there are other here willing to play volleyball with you. Good luck and do your best!

[Paulie]

I take it you’re gunning for some long, drawn out debate to ‘prove’ your pointless point of view?

Thanks but I have better things to do with my time.

I’m sure there are other here willing to play volleyball with you. Good luck and do your best!

[C. Edmund Wright]

In other words, you admit defeat on business deductions? And you don’t want to debate. No, wouldn’t want to do that on a message board, now would we?

(bless yo little heart)

[Texas Eagle]

And you think that’s impressive? Wow.

[Paulie]

Okay, fat boy, what’s your position?

[Hoffer Rand]

The nice things about a flat tax are everyone’s got some skin in the game and those with the best tax accountants don’t get to pay less.

Wrong, each household's first $50K is exempted from tax. Median household income in the US is $51969, so just under half the households pay nothing. We're already in a system like that. I'm all for fixing the tax code, but this doesn't give everyone some skin in the game.

[C. Edmund Wright]

FAT BOY? Dude, where did you get that?

But even in light of your infantile and totally irrelevant, and ignorant insult, I’ll answer.

Position A: you don’t really know what a biz deduction is.
Position B: if you did, you wouldn’t be posting the way you are in this thread.
Position C: a business deduction is what comes off the top line - business expenses. In other words, if a business grosses a million dollars, but has employee, office, advertising and vehicle and healthcare costs of 900 thousand dollars.....you must think they should be taxed on the full million, not the 100 thousand of gross profit.

Position D: you won’t be able to respond intelligently to this, because you picked the wrong fight.

[ByteMercenary]

Actually a national sales tax is the only way to insure that all folk have skin in the game. Declare only a very few exceptions to the tax like basic necessities (like real, actual food, not simply anything that one can purchase at a ‘grocery’ store) and tax every purchase at the point where it will go to the ultimate consumer.

[taildragger]

Taxpayers would get to keep the deductions for home mortgage interest and charitable deductions

Get rid of both and the only deduction should be for health care expenses and health insurance, other than that, he is on the right track. Also tax div's and interest one time at the source, a-la Steve Forbes's idea....

[kjam22]

But what Paul has proposed doesn't leave everyone with skin in the game. You know, he exempts the first 50k of income. People earning less than 50k have no tax due.

Its a flat tax only that all income has the same tax percentage.... yet he goes down the rabbit hole with deductions, exemptions etc.

What he should propose is a 10% flat tax. No deductions. Everyone pays. EVERYONE. God only requires 10%, so that ought to be enough for the government too.

[grania]

FWIW, Rand Paul tries to be more politically adept than his dad was. If selling it cut the tax for a huge percentage of the population worth it in order to sell a flat tax? Perhaps, if only we could be fully confident that the DC crowd wouldn't mess it up to the benefit of their paymasters.

I wish he'd start talking about abolishing the Federal Reserve. EVERYONE understands there's something very wrong with banking policies in the US.

[central_va]

Repeal the 16th and go with consumption based tax.

[C. Edmund Wright]

Okay, no deductions. Then please fill out this business tax form:

ACME BUSINESS LLC:

Gross sales 1 million dollars

Payroll: 400 thousand
Rent: 100 thousand
Equipment: 200 thousand
Supplies, materials: 150,000
Software, office: 50 thousand.

Gross profit 100 thousand dollars.

So, does this business pay that flat 10 (or whatever) of a million, or of 100 thousand?

CannotWAIT for your answer.

[Paulie]

I told you I know full well what a bus deduction is. How is that relevant to the flat tax issue?

I didn’t think you could articulate a position. Sorry, but you deserve the insult.

Get back to me when you get a clue.

[DoodleDawg]

All in all, Paul says it adds up to the biggest tax cut in U.S. history – reducing revenues by some $2 trillion over the first decade.

Before I sign on, let's see the spending cuts that offset the revenue decrease.