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Re: taxes...keep our current "progressive tax" system, close all loop holes and do away with all tax write-offs.
how's that for being creative?
So, by all loopholes I assume you would include personal exemptions, interest deductions, charitable donation deductions, dependent deductions, child care deductions, medical deductions, etc, etc.
How's that? A flat tax rate across the board with no loopholes is much more fair to the poor and middle class than what we have now.
Not according to the person I'd responded to, where the argument was that flat tax won't affect middle class and the rich, but it will make the poor pay because they currently don't. I'm assuming that you disagree with that premise? Explain.
Quote:
Originally Posted by Roadking2003
So, by all loopholes I assume you would include personal exemptions, interest deductions, charitable donation deductions, dependent deductions, child care deductions, medical deductions, etc, etc.
To be consistent, yes, no deductions at all. Not tax breaks... NOTHING.
"(Reuters) - Most U.S. and foreign corporations doing business in the United States avoid paying any federal income taxes, despite trillions of dollars worth of sales, a government study released on Tuesday said."
So right wingers like tea partiers whine and complain that someone making $8 an hour is not paying taxes, yet they say nothing about "someone" who makes trillions of dollars and pays no taxes.
I look a it this way, the corporation does not and cannot vote in any election, but its employees and share holders can if they are citizens. the corporation should not be taxed at all. after all if you tax the corporation on what they made, then the federal goverment should not be allowed to tax the share holders on any profit the make from the shares they hold.
nobody should be taxed 2 times or more for the same income.
I look a it this way, the corporation does not and cannot vote in any election, but its employees and share holders can if they are citizens.
Why can't such people as corporations vote? Is the US Constitution stopping them? Should we amend the constitution to include them? After all, we did include African Americans, and women, so why not corporations?
Why can't such people as corporations vote? Is the US Constitution stopping them? Should we amend the constitution to include them? After all, we did include African Americans, and women, so why not corporations?
Yeah!
I'm going to start a Civil Rights Movement for Corporations. (CRMFC)
I hope to make a lot of money on my speaking tours.
I'm going to start a Civil Rights Movement for corporations.
I hope to make a lot of money on my speaking tours.
Too late... Romney has taken the charge already and as you should be able to tell, quite a following he has got. Corporations have taken note as well, in fact a few of them have been reported seen being born (must be an act of God) and dying for him but not before contributing their best to the great cause.
Not according to the person I'd responded to, where the argument was that flat tax won't affect middle class and the rich, but it will make the poor pay because they currently don't. I'm assuming that you disagree with that premise? Explain.
The flat tax won't affect the middle class that much, I agree with the PP. The rich may be affected if they are taking all these loopholes that you claim they are...they would end up paying more with a flat tax. The poor will pay b/c they currently don't pay a dime but in fact often get enough credits for a refund.
The flat tax won't affect the middle class that much, I agree with the PP. The rich may be affected if they are taking all these loopholes that you claim they are...they would end up paying more with a flat tax. The poor will pay b/c they currently don't pay a dime but in fact often get enough credits for a refund.
Then you're not agreeing with the PP. You're hypothesizing yet another effect where middle class remains unaffected, but rich and poor pay more. I guess they ought to pay more?
Would you mind elaborating on how you arrived at this conclusion?
Seriously, though, corporations are only subject to taxes on profits. They are taking deductions that are the cost of doing business. I don't see why liberals have such a problem with this. If they don't have a profit, they don't pay taxes.
Maybe someone can explain it to me using this example:
I own a restaurant. I pay my employees, I purchase food, I have to pay overhead, I put some money toward marketing, etc. For ease, just say my sales are $10k/week. After deducting my costs, I am left with 15% of my sales for $1500/week.
Do I pay taxes on the $10k/week or on the $1500/week? Your typical liberal on C-D would say on the $10k. BUT that is not my profit, that includes the costs of doing business. It makes NO sense to pay taxes on anything but the $1500.
I am actually in favor of the FairTax, but a flat tax with no deductions, or very limited deductions, with the elimination of the corporate tax would be my second choice of tax structure.
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