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Because usually the figure I see is around 10-15% for a flat tax.
If that were the case, I'd benefit... but, I don't think everyone should pay the same rate... I like the graduated system... and even though I pay more with this system, I'm ok with it.
I'd rather not see someone struggling to feed, clothe and house their family pay the same rate as I do.
The figures I've seen are 17-20%. The problem with excusing a large segment of the population from paying taxes is that it actually sets up a conflict of interest. They have no incentive to expect the government to act in a fiscally responsible manner. They have every incentive to encourage and promote out-of-control government deficit spending by voting themselves more free or low-cost benefits/entitlements.
There's a false pemise here ... the "rich" don't have their money sitting in a bank vault doing nothing, benefitting nobody except keeping score for them.
It's all in play, creating businesses and jobs.
Even when they spend their discretionary dollars for hard goods ... it's going to the benefit of many people who receive employment and compensation for having provided the goods.
Again, as I've pointed out before in this thread, you could take the entire wealth of many people (Gates, Buffet, etc) and distribute it among the general population ... it'd be a few dollars for a day. But, put their wealth to work and you keep many people gainfully employed forever.
I see so if they have less money then the money will stop working? Then the money they had is just thrown in a container and never seen from again like a witness relocation plan?
I can't believe people fall for this. Is economics not taught anymore? Maybe Hannity told them based on his understanding of economics...Oh wait did he even go to college. Blind leading the blind.
The larger the disparity between the rich and poor the more likely you will have a depression.
One thing that also has to be taken into account in any tax discussion, and I'll be accused of being simplistic, is that many people who have no federal tax liability pay FICA. They don't separate the two. You can argue whether the Bush tax rebate several years ago was wise but a number of people I know complained they didn't get a check, they didn't take into account that they paid no federal income tax, but didn't realize that because of FICA, and in most cases also received EIC.
California is an example of not what to do. Don't let the mob decide your tax scheme. Prop 13. Bad idea.
Prop 13 is related to property tax, not income tax. Now, what about CA's income tax revenue shortfall problem? And NY and NJ? And others shortly to come?
The figures I've seen are 17-20%. The problem with excusing a large segment of the population from paying taxes is that it actually sets up a conflict of interest. They have no incentive to expect the government to act in a fiscally responsible manner. They have every incentive to encourage and promote out-of-control government deficit spending by voting themselves more free or low-cost benefits/entitlements.
I follow your argument, I think, but I don't think them paying a tax would stop that behavior... As a matter of fact, they might need more help since they have less from paying the tax and therefore vote for more benefits.... So I don't think a flat tax would have an effect here.
I follow your argument, I think, but I don't think them paying a tax would stop that behavior... As a matter of fact, they might need more help since they have less from paying the tax and therefore vote for more benefits.... So I don't think a flat tax would have an effect here.
Prop 13 is related to property tax, not income tax. Now, what about CA's income tax revenue shortfall problem? And NY and NJ? And others shortly to come?
Property tax and income tax and sales tax are all interrelated. If you don't have enough in Propety tax the shortfall has to come from somewhere.
Property tax and income tax and sales tax are all interrelated. If you don't have enough in Propety tax the shortfall has to come from somewhere.
Property tax is usually more related to local taxing bodies - municipal governments, local school districts, etc. What percentage of a CA property tax bill goes to the state? For example, here in IL, 0% of property tax goes to the state of IL - it all stays local (city, township, county, local library, public school district, etc.). CA's income tax problem is a state issue.
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