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Why would I favor giving governamnt more money when they have clearly shown they can't actually produce creditable results.Money invested i governamnt is just money that goes to programs monay of which result in givig moeny to people who produce nothing . In the end its a losig propostion as more become depdnent on fewer and fewer as people dropout of supporting the funding.that is what we see now too mnay dependent on too few and increasing since the wealth sharing investment started in mid 60's.We how have more disfunstional people than ever.
You must be married with kids. I am firmly in the middle class as well and paid an effective rate of around 18%. I am single and rent.
Why should I pay almost double what you pay in taxes just because I choose to be single and you chose to have a family, buy a house etc.? Why am I being penalized and you rewarded?
I am also single and rent. We make out much better that a family with a mortgage. That mortgage will cost then twice what they borrowed so that deduction is only food for a short time. We also do not get the tax deduction of kids with the trade off we do not pay for the costs of the kid.Monetary cost of children far outweigh the deduction. I have rented the same house for 15 years. In that time the land lord has had to pay for a bathroom to be rebuilt because of a busted pipe, house repainted, roof redone, foundation repaired, trees trimmed, taxes on the house,subfloor of laundry room had to be replaced and the place had to be rewired.Over the past 15 years they had to put 15000 more in house then my rent covers. Own a house not for me, renters win . I take the extra money i do not use on mortgage payments and put it in an Roth and am sitting on 100,000 .
Tax breaks for kids and houses work well for some, never made financial sense for me
Explicitly spelled out and authorized in the US Constitution, and for good reasons.
strange, as much as progressives are in favor of making everything more in line with the future, I am a bit suprised that alot of progressives actually want the current tax system, since it was instituted in 1913.
So here's my solution for the biggest political controversy facing our country - Taxes.
We all pay a flat tax rate of 25%. No exemptions, no deductions (house, marriage, kid) NOTHING on ALL income. No form of income will be exempt or taxed at a reduced rate. Rate applies to ALL individuals and corporations. Income will be taxed whether earned in US or overseas as long as you live and do business in the country.
No subsidies for ANY industry.
Only possible exemption for people making wages below poverty line who could be taxed at a nominal rate of 10%.
We get rid of all the complexity of the tax code. We can get rid of the armies of tax accountants and lawyers. No need for spending money on IRS. Lots of unnecessary overhead costs saved. No need for H&R block etc and other worthless industries.
This 25% rate can be reduced by 1% every two years till we reach 20% and balance the budget. Of course we will make some spending cuts as well. At that point EVRYONE pays 20%, no more, no less. The government learns to live within this 20% income budget.
Sound like a good compromise for liberals and conservatives?
Way too high. If you want a compromise 17%. If you want a great economy, economic growth and freedom renewed 12%.
Explicitly spelled out and authorized in the US Constitution, and for good reasons.
Actually, the Constitution, as originally written and ratifed, specifically forbade the income tax.
That was changed by amendment passed under very questionable circumstances, and sold under the "promise" that it would never exceed 5% and apply only to the uber-rich. So much for promises from the ruling-class.
If we reach a surplus, we save all of it for contingency and emergency purposes.
Are you saying the government won't spend every dime we give them?
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