Do You Favor a Flat Tax on Income Over 15K? (millionaire, elections)

[Kele]

Yep. 15'% flat tax--nothing more, nothing less.

[ozzie679]

I favor a flat tax, or maybe no more that three very simplified tiers. But EVERYBODY should pay federal income taxes.

I've said it several times on CD, but I'm 100% against a national sales tax in lieu of income taxes.

[buzzards27]

scan down to figure 6 here: Who Rules America: Wealth, Income, and Power

you'll see that EVERYONE pays taxes. Someone making $50k would be already paying 25% or more of their income toward taxes.

Originally Posted by Memphis1979

A family of 4 making 50,000 dollars a year don't have to pay any federal income tax.

I can tell you I'd live just fine paying 7000 dollars a year at 50K per year to include all federal taxes.

Thats at 35%.

The genius of a flat tax system is that it encompasses all taxes. Social security, medicare, unemployment, everything in one tax.

It would force those with more money to pay a higher tax payment then they do now, and actually lower taxes for many people.

[buzzards27]

the problem is they DO NOT pay 50%, Who Rules America: Wealth, Income, and Power figure 6

Originally Posted by miyu

I don't favor reducing taxes for the rich at all - they can continue to pay 50%. I am definitely for raising middle class tax to the same rate as the rich, because like the rich, they can buffer that. The bottom 20% are the truly poor people and they should not have to pay anything. But they should also contribute something. Welfare cuts come to mind. If you think that middle class should be exempt from paying the same taxes as the rich, I think that would be the ultimate joke. There are people who are truly suffering out there and who is still looking out for their own interests? Middle class.

FYI I have recently graduated to the middle class and I would not mind paying more, if the money was put to good use. Like paying the national debt, helping veterans, getting help for homeless, etc.



You should not worry about millionaires. I think the millionaires have accepted paying their 50% income tax. They are doing it right now. If not, the flat tax will get rid of all loopholes so they will start paying more.

I really don't believe that the vast majority of middle class are unable to feed themselves and their family. When there are so many obese people walking around in Walmart and Target I find that difficult to believe. The last point is that you are complaining that people are having trouble holding onto their modest homes. Guess what? Some people have never owned a home in their life. I'm not sure where this middle class entitlement comes from? Plus if you look on the MLS there are a ton of multimillion dollar mansions that are in default - should we feel sorry for the millionaires that are losing their homes too? Heck no. Nobody should have "home ownership entitlement."

[miyu]

Originally Posted by buzzards27

the problem is they DO NOT pay 50%, Who Rules America: Wealth, Income, and Power figure 6

Raise everyone's capital gains tax to 50% flat across the board. Done.

[Smash255]

Originally Posted by Memphis1979

Yep, it was under the 2009 tax year anyway. Probably even more true with 2010's.

If the child tax credit goes away, that will add to the family tax burden.

It will actually go away in 2011 with the making work pay credit ending and changing to a 2% reduction in the social security tax.

[Smash255]

Originally Posted by Kele

Yep. 15'% flat tax--nothing more, nothing less.

Increase the taxes on the working and middle class, to cut taxes on the rich,

[sunnyandcloudydays]

Originally Posted by Backspace

I favor a flat income tax, period. Right now we have a bunch of complete morons crying about "tax the rich, they should pay their fair share" while 47% of Americans pay NO income tax whatsoever. How can people gripe about the rich not paying enough when 47% pay NOTHING?

You know i was king of thinking the same thing.
I fall into the category of paying , what the hell is wrong with me!

Just dont take away my mortgage exemption as that s the last thing besides property exemption i have left for the most part.

obama reform sure will be interesting , i am starting to feel funny about his ideas and i liked the guy at one time. still do but he has changed too

[Knox Harrington]

Why is this not a poll?

No.

[sunnyandcloudydays]

Originally Posted by carterstamp

No, I'm a fair tax fan. Tax on consumption, then everyone get's to pay, rich and poor alike. That way, we eliminate the income tax, and take home more of our pay.

well one good thing about the fair tax my spending would go way down , way way way down. i would go to every flea market, side market and farm stand in the land to escape the damn tax,,,, this will never work no way.....
to many ways around that one.