Posted on 09/20/2013 9:27:57 PM PDT by TexGrill
A republican plan will likely be revenue neutral in aggregate but be more simple and promote growth in the long run.
That is what tax simplification is all about.
Taking out the property tax deductions will hurt many homeowners. This strategy is not a winner.
Eliminate the income tax. Impose a nation retail sales tax.
It is a government subsidy, helps artificially inflate prices, and should be removed. It is housing welfare.
“Eliminate the income tax. Impose a nation retail sales tax.”
Would be a winner, but we’ll end up having both with this crowd.
Too many accountants, lawyers, clerks, you name it, making a living off of “assisting” Americans pay their taxes. It’d cause an instant depression.
Unless they are replacing income taxes with Foreign tariffs, which is how we raised revenue the first 140 yrs of our nation, there will not be any changes
I’ll take Foreign tariffs over a Progressive Income Tax anyday. I’ll take the tariffs of our forefathers than the Income Taxes of Marxists anyday
Flat Tax is still a Progressive Income Tax....the more you make, the more you’re taxed. Steve Forbes wants you to pay more taxes, not him
“The one for payment of state and local taxes tends to disproportionately benefit wealthy people in Democratic stronghold states. More than 30 percent of the total value of the deduction in 2011 was claimed by New Yorkers and Californians, according to congressional estimates.”
I'll gladly pay 15% of my income, no deductions, no tax shelters permitted for anybody.
Saves me money, plus I wouldn't need to go to an accountant every year, just sign one check.
A flat tax is fine with me. But here’s what will happen. They will take out the deductions to raise taxes and stop the flat tax when it comes for a vote. Congressman Camp is a damn fool for falling for this trick. He deserves retribution for his naivete acions.
Things should not be so damn complicated where you need and accountant or computer tax program to do your taxes.
Your income for the year, times a certain percentage, equals what you write a check for, that damn simple.
Cajun not proof reading again.
A progressive income tax punishes those who create wealth.
A huge improvement, shy of scrapping the entire effed up tax code entirely, is to make every citizen have to pay some federal income tax. This BS about 47% having no fed tax liability has to end. Like Obama says about health care — everyone should have some skin in the game.
That nearly half the population can vote for the pols who promise ever more spending and ever more programs with no cost to them, is destroying the Republic.
Frankly, the U.S. should be run like a corporation. Only shareholders should have the right to vote, the shareholders being only those who actually pay federal income taxes.
Absolutely.
But bear in mind, to eliminate the income tax, mere legislation is not sufficient.
You must amend the Constitution to forbid income taxation at all levels, national, state, local, and international (strictly enforced with nuclear weapons).
If I were king.... Flat federal sales tax rate of 10%. If they want more revenue, then they’d just have to figure out how enact policies/regs/whatever to raise the GDP and “grow” the pie to make that 10% slice bigger.
If they say “10% ain’t enough”, I’d say bull-butter!! They need to learn how to prioritize a budget and live within their means like the rest of us. Perhaps they cut aid to Burkina-Faso, or dissolve Dept of Ed. - I don’t care how, but it’s entirely do-able. They simply have to be forced to do it.
Um, tariffs were some, but much early revenue was raised by land sales.
This probably doesn’t have a chance but is a good idea.
He’s working toward lower overall rates and a simpler tax code, while taking away a major low-tax state to high-tax state subsidy that so softens the blow of increases in local taxes as to make them palatable to an unengaged electorate.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.