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Location: The Chatterdome in La La Land, CaliFUNia
39,031 posts, read 23,029,434 times
Reputation: 36027
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I propose the following solution to our tax woes and arguments about inequality:
EVERY ONE should pay a 5% flat income tax with ZERO exemptions or tax shelters. This will insure fairness for all and that the rich will pay more in taxes.
As someone who is far from being rich, I would feel MUCH better about paying my share of taxes if we all were held to the same rules.
The only exceptions are those earning income at or below poverty level - they should be exempt from income taxes.
I propose the following solution to our tax woes and arguments about inequality:
EVERY ONE should pay a 5% flat income tax with ZERO exemptions or tax shelters. This will insure fairness for all and that the rich will pay more in taxes.
As someone who is far from being rich, I would feel MUCH better about paying my share of taxes if we all were held to the same rules.
The only exceptions are those earning income at or below poverty level - they should be exempt from income taxes.
the last line of your post contradicts the first line...???
Location: The Chatterdome in La La Land, CaliFUNia
39,031 posts, read 23,029,434 times
Reputation: 36027
Quote:
Originally Posted by justus978
the last line of your post contradicts the first line...???
I don't believe in forcing those at poverty level to pay taxes. That is the ONLY exemption I propose. Everyone else, including myself, should pay 5% - Not more or less.
I propose the following solution to our tax woes and arguments about inequality:
EVERY ONE should pay a 5% flat income tax with ZERO exemptions or tax shelters. This will insure fairness for all and that the rich will pay more in taxes.
As someone who is far from being rich, I would feel MUCH better about paying my share of taxes if we all were held to the same rules.
The only exceptions are those earning income at or below poverty level - they should be exempt from income taxes.
A flat tax isn't a fair tax. It's a colossal windfall for the wealthy and makes poor people pay more.
Location: The Chatterdome in La La Land, CaliFUNia
39,031 posts, read 23,029,434 times
Reputation: 36027
Quote:
Originally Posted by Ford Beebe
A flat tax isn't a fair tax. It's a colossal windfall for the wealthy and makes poor people pay more.
Really?
How is it a "colossal windfall" when the rich will be paying MORE in taxes when you remove all the tax shelters and other exemptions? Let's engage in some math here ...
Someone making 40k annually will have to pay 2k in taxes.
(which is WAY less than what they are paying under the current system)
Someone who earns 100K annually will have to pay 5K in taxes.
(Which is less than someone who makes 40K annually under our present system)
Someone who earns 1 million annually will have to pay 50K in taxes.
(Do you honestly think that the millionaires are actually paying this much in taxes under our current system?)
When you look at the actual math, it's the rich that will be paying the bulk of the taxes and not the middle class. This is the only true method of getting the rich to pay their fair share ... All these other schemes just place the burden upon the middle class.
Given that a substantial portion of the public can't even differentiate income from wealth, I'd speculate that this little flame-fest will go downhill rather quickly.
How is it a "colossal windfall" when the rich will be paying MORE in taxes when you remove all the tax shelters and other exemptions? Let's engage in some math here ...
Someone making 40k annually will have to pay 2k in taxes.
(which is WAY less than what they are paying under the current system)
Someone who earns 100K annually will have to pay 5K in taxes.
(Which is less than someone who makes 40K annually under our present system)
Someone who earns 1 million annually will have to pay 50K in taxes.
(Do you honestly think that the millionaires are actually paying this much in taxes under our current system?)
When you look at the actual math, it's the rich that will be paying the bulk of the taxes and not the middle class. This is the only true method of getting the rich to pay their fair share ... All these other schemes just place the burden upon the middle class.
What percentage of GDP do you think our government spends now?
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