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Old 11-12-2010, 08:20 AM
 
Location: Piedmont, CA/São Paulo, Brazil
33,741 posts, read 58,173,353 times
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Food for thought

Quote:
Brown, now state attorney general, "was ahead of his time" in suggesting the flat tax idea during the 1992 Democratic presidential campaign, Forbes told the San Francisco Chronicle. Forbes was a Republican presidential candidate himself in 1996 and 2000.

Forbes says he and Brown have "compared notes over the years" on the flat tax concept, and that it could work in California.

"If done right, it would profoundly and positively change the economy in California," he said. "A low single-digit rate would unleash creativity," and boost the beleaguered state economy.

Forbes says he's looking forward to Brown's campaign to see what the former governor proposes in terms of taxes and public unions.


American Thinker Blog: Jerry Brown and the Flat Tax
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Old 11-12-2010, 09:04 AM
 
Location: Sacramento
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Many states already have flat income tax rates, including Pennsylvania, Michigan, Illinois, Colorado and Indiana.

Folks who dislike the concept complain that it doesn't sufficiently tax the wealthy.
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Old 11-12-2010, 09:11 AM
 
Location: The High Seas
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I'm all for a flat tax. It would make it fair for all and save me time every year doing my taxes.
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Old 11-12-2010, 09:15 AM
 
Location: Piedmont, CA/São Paulo, Brazil
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I wonder what real impact it has on the economy in places it already exists?
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Old 11-12-2010, 09:21 AM
 
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The problem is that the rates are so highly progressive now that a singe tax rate would need to very high to bring in the same money.
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Old 11-12-2010, 09:26 AM
 
Location: Piedmont, CA/São Paulo, Brazil
33,741 posts, read 58,173,353 times
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Quote:
Originally Posted by EscapeCalifornia View Post
The problem is that the rates are so highly progressive now that a singe tax rate would need to very high to bring in the same money.
If we didnt also have to shoulder a high federal tax burden, a higher flat state income tax rate wouldnt seem so unreasonable imo.

To me this is just more evidence of how the federal govt is a part of the problem, and not part of the solution.
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Old 11-12-2010, 09:28 AM
 
Location: ABQ
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The fact that it is currently in place in Michigan and Indiana would make me initially very skeptical. I grew up in Ohio and the one place we knew we could still beat economically was... Michigan. Indiana's state economy ranks something like 46th in the country, and Michigan typically ranks toward the bottom 5%. What sort of creativity is it spurring there?
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Old 11-12-2010, 09:34 AM
 
Location: Piedmont, CA/São Paulo, Brazil
33,741 posts, read 58,173,353 times
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Quote:
Originally Posted by Parti Rhinocéros View Post
The fact that it is currently in place in Michigan and Indiana would make me initially very skeptical. I grew up in Ohio and the one place we knew we could still beat economically was... Michigan. Indiana's state economy ranks something like 46th in the country, and Michigan typically ranks toward the bottom 5%. What sort of creativity is it spurring there?
Good point.

I wonder tho, how can we take care of all the people who need help & protect the environment AND stimulate business/ job growth at the same time?

Hmmm...if we can figure that out, our problems are solved. LOL
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Old 11-12-2010, 09:46 AM
 
Location: Sacramento
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In asking the question about the impact of a flat tax, you'd have to find a state that converted from a progressive income tax rate to a flat tax rate, then compare their economic progress.
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Old 11-12-2010, 09:48 AM
 
Location: Sacramento
13,864 posts, read 24,639,021 times
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Quote:
Originally Posted by 18Montclair View Post
Good point.

I wonder tho, how can we take care of all the people who need help & protect the environment AND stimulate business/ job growth at the same time?

Hmmm...if we can figure that out, our problems are solved. LOL
Actually, I agree with you here. Generally, I support tax simplification and processes such as the flat tax.

For California, I'd like to see something similar to the flat tax, but I'd understand if they wanted to have a two tier process. I'd like to see the revenue projections for something like a tax rate of 3% on incomes up to $25K ($50K for joint returns) and 5% above that income range.
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