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I like the simplified tax a lot. People could stop avoiding capital gains from the buying and selling of untraceable physical assets and return their money to the stock market where it would help produce jobs.
The federal government would collect $183 billion less in 2011 and more than $2 trillion less over a decade than it would if Congress adopted President Obama’s tax proposals.
They don't know how much will come in because how much government receives is based on economic activity - and no one knows the future, who will win the next election and what changes in economic policies will take place.
The poorest 20 percent would pay 12.3 percent of their income more than what they would pay under the President’s proposal, while the richest one percent would pay 15 percent of their income less than they would pay under the President’s proposal.
The poorest 20% would not pay income taxes. So how will the pay more? Right now with the price increases on the basic necessities (due to QE1, QE2), they are already paying more. Gas is beyond double the price since Obama took office.
From the link Federal Government Would Collect $2 Trillion Less Over a Decade and Yet Require Bottom 90 Percent to Pay Higher Taxes
That was also the debt commissions suggestion.. Its called broadening the tax base..
And because you dont understand the math on this, (obviously).. this means those who PAY taxes get a cut.. and more of those who dont pay, will. THATS A PLUS IN MY BOOK
Quote:
Originally Posted by DRob4JC
Statements from the link...
The federal government would collect $183 billion less in 2011 and more than $2 trillion less over a decade than it would if Congress adopted President Obama’s tax proposals.
They don't know how much will come in because how much government receives is based on economic activity - and no one knows the future, who will win the next election and what changes in economic policies will take place.
You caught that as well..
What this means is they computed Obamas RAISING of taxes, and then tried to say that lowering them is paying more..
Would definitely benefit the purchasing of health insurance, as individual plans would begin looking for appealing vs. employer sponsored plans. Health insurance costs should not be subsidized anyway, unless it's all (individual included) or nothing.
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