What Do You Think Would Be A Fair Tax Rate Percentage For Different Income Levels (solution, how much)

[Loveshiscountry]

Originally Posted by TheGoodTheBadTheUgly

for incomes over $523,600...?

for incomes over $209,425...?

for incomes over $164,925...?

for incomes over $86,375....?

for incomes over $40,525....?

for incomes over $9,950.....?

for incomes up to $9,950.....?

For Federal income tax the rate should be zero for everyone.

[Loveshiscountry]

Originally Posted by LordSquidworth

the government deficit would be astronomical.

because spending is the problem

[LordSquidworth]

Originally Posted by Loveshiscountry

because spending is the problem

It isn’t.

Compared to other countries as % of gdp we’re fine.

[Loveshiscountry]

Originally Posted by Leo58

I would reverse the process, sort of.

First, Congress would adopt a budget including all spending plans. Then, this total spending amount would be divided by the number of taxpayers to derive a per capita figure. Then this would be adjusted up or down by income bracket, but the total amount has to be covered in the end.

This is a balanced budget approach, but the impact of spending would be immediately felt by the taxpayers. Members of Congress would have to explain to their constituents why they voted for a 10% increase in spending, for example, which resulted in a $2000 increase in their tax bill.

Right now the connection of spending to taxes is too obscure, and the growth in federal debt is merely an abstraction.

Obscure? There is not a connection between spending and taxes. Taxes have no affect on spending what so ever. Spending is the one thing that has an affect on spending.

[Axxlrod]

The only fair way to do it is a flat tax rate that is the same for everyone.

15% sounds logical to me.

But the govt has a very skewed way of defining the word "fair".

[InformedConsent]

Originally Posted by LordSquidworth

Wouldn’t raise remotely the revenue that is raised today. Why the flat tax has never made it on the table.

Actually, it would. The average effective federal income tax rate is 13.3%. Hit everyone, no exceptions, up with a 15% flat tax on incomes of $1 and up, and tax revenue would exceed what's currently collected.

[InformedConsent]

Originally Posted by LordSquidworth

That’s a deceiving and false statement.

Someone with wealth enjoys more of what the country has to offer than the poorest.

Their flat tax amount would be much higher than the poorest, too. That's what makes the flat tax fair.

[Roboteer]

Originally Posted by TheGoodTheBadTheUgly

What Do You Think Would Be A Fair Tax Rate Percentage For Different Income Levels

for incomes over $523,600...?

for incomes over $209,425...?

for incomes over $164,925...?

for incomes over $86,375....?

for incomes over $40,525....?

for incomes over $9,950.....?

for incomes up to $9,950.....?

What makes you think that different tax rates for different incomes is at all "fair"?

A famous bank robber was caught and put in jail. Later a someone asked him why he kept robbing banks.

He replied, "Because that's where the money is."

Politicians who charge higher tax rates on people with bigger incomes, operate on the same principle as that bank robber. And for the same reason.

[InformedConsent]

Originally Posted by kreeyax

Why not just abolish income tax for individuals entirely and go to a VAT tax on all purchases? 20% on purchases, or something similar. It would ensure everyone pays, even those who make money but don't report their income to the IRS. I wonder if that would be enough to replace or exceed the current amount of tax revenue for the govt?

It would exceed it. A 20% federal tax on consumer spending with no exceptions would generate $2.732 trillion in tax revenue. Current individual federal income tax revenue is less than that at $1.932 trillion

[Buckeye77]

Originally Posted by InformedConsent

It would exceed it. A 20% federal tax on consumer spending with no exceptions would generate $2.732 trillion in tax revenue. Current individual federal income tax revenue is less than that at $1.932 trillion

Amen Brother! Let's make sure that all those poor folks pay "their fair share". The rich folks are tired of paying all the taxes, and deserve a break.