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Old 10-17-2012, 07:52 AM
 
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Rate cuts verse write offs.

Go.
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Old 10-17-2012, 08:11 AM
Status: "But in the aggregate..." (set 28 days ago)
 
Location: The Triad (NC)
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rate cuts (and threshold levels) can be accomplished in one afternoon.
write-offs require real work to have changed (and still won't happen).
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Old 10-17-2012, 09:46 AM
 
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Its irrelevant.

What is a tax cut in Pottersville?

What if no one paid taxes at all in Pottersville? Potter is the de facto government only its a dictatorship. He raises rent. So what is a tax cut?
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Old 10-17-2012, 09:49 AM
 
Location: WA
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Letting politicians make decisions on taxing income is stupid. Some sort of flat tax on income supplemented with a modest consumption tax is the only way to eliminate bias... and then it must be implemented so it is very difficult to tinker with. Drive the government to control spending and promote growth.
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Old 10-17-2012, 10:33 AM
 
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I wasn't thinking up there. So unclear.

Curious about thoughts as to the "flat tax" versus the progressive tax versus the progressive tax with write offs.
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Old 10-17-2012, 11:40 AM
 
Location: western East Roman Empire
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Quote:
Originally Posted by LordSquidworth View Post
I wasn't thinking up there. So unclear.

Curious about thoughts as to the "flat tax" versus the progressive tax versus the progressive tax with write offs.
My view is that effective tax rates in the US are reasonably low, but it is a major headache - major headache - figuring out how little tax I have to pay after all deferrals (e.g. retirement accounts), deductions, exemptions, and credits. Therefore I would prefer an end to the shenanigans and pay a flat tax, even at a higher rate than my current effective tax rate.

But that will never happen. I'll leave it to you to enunciate the reasons.

But I'll give you a hint: the income tax structure is not about government revenue, it is about social control.

Good Luck!
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Old 10-17-2012, 12:00 PM
 
19,337 posts, read 16,932,211 times
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Quote:
Originally Posted by bale002 View Post
My view is that effective tax rates in the US are reasonably low, but it is a major headache - major headache - figuring out how little tax I have to pay after all deferrals (e.g. retirement accounts), deductions, exemptions, and credits. Therefore I would prefer an end to the shenanigans and pay a flat tax, even at a higher rate than my current effective tax rate.

But that will never happen. I'll leave it to you to enunciate the reasons.

But I'll give you a hint: the income tax structure is not about government revenue, it is about social control.

Good Luck!
You got that right.

Da guberment creates money by going into debt. The more debt they make, the more money. So this idea that taxes are revenue is rather silly indeed.
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Old 10-17-2012, 12:10 PM
 
Location: Here.
15,454 posts, read 14,016,181 times
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Quote:
Originally Posted by LordSquidworth View Post
Rate cuts verse write offs.

Go.
Both!

Get rid of income taxes altogether and just have a import tariff and an excise tax on alcohol and tobacco.

...just like pre-1913 when half of the federal revenue came from tariffs and half from the excise tax.

I was glad to hear Romney mention the import tariff last night (at the 2nd debate). There's hope.
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Old 10-18-2012, 10:29 AM
 
Location: Forests of Maine
32,457 posts, read 52,782,179 times
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Tax theory 101: tax write-offs are a mild form of social engineering. A gentle method of encouraging behaviors in the population.

You want to make it to appear that we encourage home-ownership, but it is decided what we truly want to do is encourage borrowing at interest for home-ownership; so we allow home mortgage interest deductions.

We want to encourage workers to gain higher educations; so educational expenses are deductions.

We want to encourage adults to live in stable married households; so filing joint returns is a 'better' filing status.

We want to encourage workers to produce more workers; so having / raising children is additional deductions.

Trade Unions and Professional organizations are all seen as good; so membership dues are deductions.

Everything that is allowed as a write-off, every one of these things are things that we are being encouraged to go do.
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Old 10-18-2012, 12:30 PM
 
Location: Victoria TX
42,661 posts, read 78,404,244 times
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There's no such thing as "cutting taxes". One must calculate the revenue to afford the necessary expenditures, and then find a fair and acceptable way to extract the revenue from whomever you have the power upon whom to visit the levy. There is no question about how much revenue must be raised. The only question is who pays the tax and when.

Taxes must be paid by someone, sometime, and there is nothing you can do to "cut" those taxes. Except by bankruptcy or otherwise reneging on fiscal responsibilities.
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