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Old 10-28-2015, 04:54 AM
 
800 posts, read 642,664 times
Reputation: 573

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Income Tax:

0-$20,000 35%

$20,001-$74,999 42.5%

$75,000-$149,999 47%

$150,000-$399,999 54%

$400,000-$999,999 57%

$1,000,000+ 60%

Corporate tax:

22% for everyone. No loopholes.

VAT:

25% for goods

15% for restaurants. Eliminate tipping.

25% for petrol.

50% for cars, boats, and planes.

100% VAT for high pollution trucks and SUV's. Farmers and contractors eligible for a 50% tax deduction.

2% wealth tax for assets over $1,000,000
5% wealth tax for assets over $10,000,000

Asset based capital gains:

Holdings under $500,000: 0%

Holdings under $1,000,000: 20%

Holdings under $5,000,000: 40%

Holdings over $5,000,000: 50%

Eliminate inheritance or death tax.

Eliminate all federal support of private schools. 25% VAT for services applies to private colleges and universities. Eliminate federal and state support of charter schools.
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Old 10-28-2015, 06:01 AM
 
66,240 posts, read 30,169,021 times
Reputation: 8607
Quote:
Originally Posted by CincyIU29 View Post
Income Tax:

0-$20,000 35%

$20,001-$74,999 42.5%

$75,000-$149,999 47%

$150,000-$399,999 54%

$400,000-$999,999 57%

$1,000,000+ 60%

Corporate tax:

22% for everyone. No loopholes.

VAT:

25% for goods

15% for restaurants. Eliminate tipping.

25% for petrol.

50% for cars, boats, and planes.

100% VAT for high pollution trucks and SUV's. Farmers and contractors eligible for a 50% tax deduction.

2% wealth tax for assets over $1,000,000
5% wealth tax for assets over $10,000,000

Asset based capital gains:

Holdings under $500,000: 0%

Holdings under $1,000,000: 20%

Holdings under $5,000,000: 40%

Holdings over $5,000,000: 50%

Eliminate inheritance or death tax.

Eliminate all federal support of private schools. 25% VAT for services applies to private colleges and universities. Eliminate federal and state support of charter schools.
Repeal FATCA. Scandinavian and European countries, with their more and better social and safety net programs, have no FATCA laws. Their rich can and do hide wealth, income, and gains in foreign accounts so that they're all tax-free.
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Old 10-28-2015, 06:31 AM
Status: ""a mind that understands science"" (set 10 days ago)
 
18,824 posts, read 12,134,015 times
Reputation: 10255
Quote:
Originally Posted by CincyIU29 View Post
Income Tax:

0-$20,000 35%

$20,001-$74,999 42.5%

$75,000-$149,999 47%

$150,000-$399,999 54%

$400,000-$999,999 57%

$1,000,000+ 60%

Corporate tax:

22% for everyone. No loopholes.

VAT:

25% for goods

15% for restaurants. Eliminate tipping.

25% for petrol.

50% for cars, boats, and planes.

100% VAT for high pollution trucks and SUV's. Farmers and contractors eligible for a 50% tax deduction.

2% wealth tax for assets over $1,000,000
5% wealth tax for assets over $10,000,000

Asset based capital gains:

Holdings under $500,000: 0%

Holdings under $1,000,000: 20%

Holdings under $5,000,000: 40%

Holdings over $5,000,000: 50%

Eliminate inheritance or death tax.

Eliminate all federal support of private schools. 25% VAT for services applies to private colleges and universities. Eliminate federal and state support of charter schools.

Looks like a recipe for economic disaster.

Keep in mind that we have had RECORD FEDERAL REVENUES for the last three years. What we have is a spending problem, not a revenue problem.

If one robs capital from the private sector and feeds it to the feds, we are providing funds to a very inefficient and wasteful componant of the economy (the federal government) which only consumes and does not produce.

Under your "system", MANY would simply stop working, as there would be little incentive to work.
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Old 10-28-2015, 03:07 PM
 
Location: US
17,879 posts, read 17,730,551 times
Reputation: 13869
Quote:
Originally Posted by CincyIU29 View Post
Income Tax:

0-$20,000 35%

$20,001-$74,999 42.5%

$75,000-$149,999 47%

$150,000-$399,999 54%

$400,000-$999,999 57%

$1,000,000+ 60%

Corporate tax:

22% for everyone. No loopholes.

VAT:

25% for goods

15% for restaurants. Eliminate tipping.

25% for petrol.

50% for cars, boats, and planes.

100% VAT for high pollution trucks and SUV's. Farmers and contractors eligible for a 50% tax deduction.

2% wealth tax for assets over $1,000,000
5% wealth tax for assets over $10,000,000

Asset based capital gains:

Holdings under $500,000: 0%

Holdings under $1,000,000: 20%

Holdings under $5,000,000: 40%

Holdings over $5,000,000: 50%

Eliminate inheritance or death tax.

Eliminate all federal support of private schools. 25% VAT for services applies to private colleges and universities. Eliminate federal and state support of charter schools.
Man if this became a reality, I would live off government and not work at all.

The government wastes so much money as of now. One of my friends is a Dentist that works in a Federal Hospital for Native Americans. The way the system works is they are given a budget and if they don't use all the money, they will get less money the following year, so what happens is they make sure they spend every penny. He said they gave away so many free sweater and jackets, just because they didn't know what to spend the extra budget on.
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Old 10-28-2015, 03:19 PM
 
Location: ATX-HOU
10,218 posts, read 6,776,233 times
Reputation: 2033
Quote:
Originally Posted by bmw335xi View Post
I agree with you. Trump is also big on rebuilding our infrastructure too.
So is Bernie "feel the burn" Sanders. However, I think he has a better chance of winning a national election than trump. Trump probably could have gotten almost the same amount of support if he hadn't started out with the xenophobic remarks to get attention.
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Old 10-28-2015, 03:25 PM
 
Location: between three Great Lakes.
1,737 posts, read 1,930,948 times
Reputation: 5783
"...would you be fine with a 25% sales tax?"

Yes.
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Old 10-28-2015, 05:29 PM
 
Location: the Sticks
8,344 posts, read 2,416,893 times
Reputation: 4355
Quote:
Originally Posted by pknopp View Post
Your argument is a logical fallacy. Why should I pay a 25% sales tax when we could just use the trillions we are wasting on the wars and the bribes to other countries?
What a thought. Imagine a world where the USA wasn't playing world police force. Imagine if we cut our military spending by say 200 billion a year. Down sized from 10 Carrier battle groups to say 7. Downsized the army by 25%. The air force the same. With this also cut down on the missions by the same measure.
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Old 10-28-2015, 06:09 PM
 
23,860 posts, read 11,854,701 times
Reputation: 10069
Quote:
Originally Posted by Zenstyle View Post
"...would you be fine with a 25% sales tax?"

Yes.
No.
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Old 10-28-2015, 07:27 PM
 
Location: Southeast, where else?
3,914 posts, read 4,207,854 times
Reputation: 5802
Quote:
Originally Posted by theunbrainwashed View Post
Needless to say, I pay for my own classes even if it is a much slower process, but many students can't afford it. Heck it's taking a long time for me to finish paying out of my own pocket.

Oh sorry, us Bernie supporters are just pot smoking hippie high school dropouts that want everything for free and not work for it. Now, stereotypes aside....
You missed the point. I'm not condemning Bernie supporters, I'm all for reducing government. If a kid wants to go to college, great. Take a loan and go? It's that simple. Not sure where the hippies and associated comments came from.
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Old 10-28-2015, 07:32 PM
 
Location: Southeast, where else?
3,914 posts, read 4,207,854 times
Reputation: 5802
Quote:
Originally Posted by chad3 View Post
Trumps tax plan will add $10.8 trillion dollars to our national debt.

Donald Trump's tax cut plan: It would cost at least $10.8 trillion, give lots of money to rich people.
Not if you don't spend it. I don't hear anyone talking about massive cuts to spending. Time for everyone to buck up and take whatever work they can find or create. Cut he umbilical cords for those that can and should work. Whack 25% of government and consolidate. Modify the remaining with pensions. Cut, cut, cut spending to include DOD.
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