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that's similar to the fair tax right? I am down with that. that is another reason I like the consumption tax. no one can escape it. illegals will not like it as much here, bartenders will pay taxes, ect.
More or less and those are also some of the reasons I like it as well. I also think it is the only way to really tax wealth, something I think is far more important than income. It will really nail illegals since without a greed card or citizenship they cannot file for the prebates. As to wait staff and bar tenders they should be paying their fair share anyway.
so both of you favor a flat tax? I am with it. the only reason I really like the consumption tax is that I have this vision of moving to a 100 acre compound and never paying taxes again. start my own freaking country.
Yes I'm in favor of a flat tax. Make as much freakin' money as you want..10% is not too much to ask as you still get to keep 90% and don't have to go hunting down loopholes and tax havens and what-not.
You make $20K then your tax is $2K
You make $100K then your tax is $10K
No more need for tax deferred accounts, IRA's, HSA's ,etc.
It simplifies so much if you think about it.
how would you do the taxes in this country? are you happy with the current system? show me a little table of how you would do it. for example:
$0-$20,000 0%
$20,000-$40,000 5%
you get the idea. I believe in a consumption tax, or a flat tax. 1 rate for everyone. I lean towards the consumption tax, because people who make more money, tend to consume a hell of a lot more than the average person. I also like the idea of 1 name for taxes. I am tired of all the naming of taxes. social security, medicare, income, personal property, property, capital gains. NO MAS!!! just give one name, one rate, and apply it to everything. also, giving it one name and rate would prevent people like warren buffet from making ridiculous statements like, "my administrative assistant pays more in taxes than me." no more comparing apples and oranges.
your turn. how would you tax america? please keep in mind that we want to keep business here, so no exxon 100% please.
I can't buy into the one rate for all tax. It impacts the lower wage earners more than the higher earners as basic necessities take a larger % of a lower wage earner's take home.
15% of $1,000,000 leaves a lot more left over for non-essentials than 15% of $30,000.
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Originally Posted by Randomstudent
More or less and those are also some of the reasons I like it as well. I also think it is the only way to really tax wealth, something I think is far more important than income. It will really nail illegals since without a greed card or citizenship they cannot file for the prebates. As to wait staff and bar tenders they should be paying their fair share anyway.
yup. I used to wait tables, and I made good money. you claim tips, but you don't have to claim correctly. you can say you made $20, but walk out the door with $200. you know why I think they will never do a consumption tax? because it provides too much power to the people. imagine that. if america didn't support the war in iraq, they would stop spending. to me, this is the ultimate form of power to the people.
Location: I currently exist only in a state of mind. one too complex for geographic location.
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Quote:
Originally Posted by Bagger
I can't buy into the one rate for all tax. It impacts the lower wage earners more than the higher earners as basic necessities take a larger % of a lower wage earner's take home.
15% of $1,000,000 leaves a lot more left over for non-essentials than 15% of $30,000.
I do think that some sort sliding scale is best.
I am not totally against a sliding scale. I can respect that. however, even with a flat tax, the more someone makes, the more they will pay.
I can't buy into the one rate for all tax. It impacts the lower wage earners more than the higher earners as basic necessities take a larger % of a lower wage earner's take home.
15% of $1,000,000 leaves a lot more left over for non-essentials than 15% of $30,000.
I do think that some sort sliding scale is best.
But that guy making the million has tax loopholes today where he'd end up paying less then the guy making $30K. That's what we need to get rid of.
Tax whatever you made in a calendar year. Doesn't have to be 15% per say..but a flat across the board percentage is a fair tax.
I would keep deductions though. A family of 4 on $30K is not the same as a single person on $30K per year.
Location: I currently exist only in a state of mind. one too complex for geographic location.
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Originally Posted by HappyTexan
But that guy making the million has tax loopholes today where he'd end up paying less then the guy making $30K. That's what we need to get rid of.
Tax whatever you made in a calendar year. Doesn't have to be 15% per say..but a flat across the board percentage is a fair tax.
I would keep deductions though. A family of 4 on $30K is not the same as a single person on $30K per year.
I disagree with you there. a single person should not be punished for choosing not to have a family, especially when children are going to be benefitting from the tax dollars in the form of parks, schools, ect.
I am not totally against a sliding scale. I can respect that. however, even with a flat tax, the more someone makes, the more they will pay.
I understand that... I just think that a graduated (sorry I forgot the term before and said sliding) scale is what I would like to see. Like I said, if you don't have much wiggle room like many at the lower income levels experience, I think there percentage should be less. What can I say, that's the way I feel.
I would like to see a lot of the exemptions, exceptions, etc. done with. But, they've become a tool for social engineering... if you know what I mean.
It's a tough subject and I'm not saying that what we have now is great, far from it. But I don't think it can be as simple as a flat tax or consumption tax. There's gotta' be something in between.
Location: I currently exist only in a state of mind. one too complex for geographic location.
4,196 posts, read 5,844,425 times
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Quote:
Originally Posted by Bagger
I understand that... I just think that a graduated (sorry I forgot the term before and said sliding) scale is what I would like to see. Like I said, if you don't have much wiggle room like many at the lower income levels experience, I think there percentage should be less. What can I say, that's the way I feel.
I would like to see a lot of the exemptions, exceptions, etc. done with. But, they've become a tool for social engineering... if you know what I mean.
It's a tough subject and I'm not saying that what we have now is great, far from it. But I don't think it can be as simple as a flat tax or consumption tax. There's gotta' be something in between.
how about 2 rates? up to $100k 15%, and above $100k 20%. the problem with a bunch of rates is that while someone in NYC may struggle on $50k, someone in french lick indiana making $50k is living like a king. and if that's the case, then a consumption tax is handy. tax the guy who is spending a bunch, not the guy just trying to get by.
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) scale is what I would like to see. Like I said, if you don't have much wiggle room like many at the lower income levels experience, I think there percentage should be less. What can I say, that's the way I feel.
