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Old 01-31-2012, 01:45 PM
 
Location: Aiken, South Carolina, US of A
1,793 posts, read 4,277,941 times
Reputation: 3645

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The reason the tax code can't be simplified is because
the congress won't do it.
The rich benefit greatly from the exisiting tax code.
They have spent many millions of dollars paying off Congress
to get it like it is now. Even Romney did that with Bain.
If Congress simplifies it, the rich will have to pay more.
Middle class people can't pay off Congress.
The sad part is, if the government keeps taxing the poor
middle class in the future, people are literally going to quit
their jobs over exess taxation. There will be a revolt.
Then no one will pay that tremedous debt the politicans
have made for us to pay off.
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Old 01-31-2012, 01:55 PM
 
10,135 posts, read 24,684,122 times
Reputation: 8330
Quote:
Originally Posted by Butterfly4u View Post
The reason the tax code can't be simplified is because
the congress won't do it.
The rich benefit greatly from the exisiting tax code.
They have spent many millions of dollars paying off Congress
to get it like it is now. Even Romney did that with Bain.
If Congress simplifies it, the rich will have to pay more.
Middle class people can't pay off Congress.
The sad part is, if the government keeps taxing the poor
middle class in the future, people are literally going to quit
their jobs over exess taxation. There will be a revolt.
Then no one will pay that tremedous debt the politicans
have made for us to pay off.

You have everything utterly backwards.

The poor benefit from the tax code as a welfare system. It is their entitlements that make it impossible to get everyone paying something. the rich already pay virtually all of the taxes and the more people who pay nothing (49%) the less likely reform becomes.
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Old 02-01-2012, 11:04 AM
 
19,337 posts, read 16,934,141 times
Reputation: 7515
Quote:
Originally Posted by CaptainNJ View Post
i didnt touch on the corportate income tax here so i will address it now. the corporate income tax rate should be 0%. there is no point in taxing corporate income, just tax it as regular income when it goes to people.

Why should they get special legal protection? Don't see the point of that either. If they don't like paying the tax why don't they just not incorporate? There is no tax since its voluntary.
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Old 02-01-2012, 11:06 AM
 
19,337 posts, read 16,934,141 times
Reputation: 7515
Quote:
Originally Posted by Wilson513 View Post
You have everything utterly backwards.

The poor benefit from the tax code as a welfare system. It is their entitlements that make it impossible to get everyone paying something. the rich already pay virtually all of the taxes and the more people who pay nothing (49%) the less likely reform becomes.

The rich in the FIRE sector collect more taxes than they pay since most of the Federal budget is recycled to these people. Most of the laws are designed to funnel money to them.
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