Posted on 01/07/2015 7:18:59 AM PST by SeekAndFind
It will never be reformed.
Gross Income
x8%
equals your tax
Everyone pays....no exemptions.
Only allowable deductions are for homeownership and charitable contributions.
Does that mean someone making $10/hour ( proposed minimum wage ), which means about $24,000 a year will pay nearly $2000 in taxes?
Hopefully followed by liberals committing mass suicide.
Step 1 repeal the 16th amendment.
Step 2 make income taxes illegal.
Step 3 Incorporate 15% import tariffs as replacement revenue generators
Step 4 National Retail sales Tax NRST of 5%
Why homeownership? You’re either for social engineering through the tax code or you’re not. Hell, I’d even knock off the deductions for charitable contributions. You want it straigthened out, let’s straighten it out. Once you open the door, everybody will want to walk through.
Way back when Forbes tried, didn’t he tout under some amount paid nothing, like 35k or so?
Remember that saying from “Risky Business”.....”Never F with another man’s livelihood.”
I like the Flat Tax and would set it at 17% on both corporate and personal income as suggested by Friedman. The Fair Tax scares me because politicians get to tinker with the “prebate”, which is similar to using my tax dollars to give away free cell phones to deadbeats in order to buy votes.
I would also enact the following laws:
1. If you don’t pay Federal taxes, you don’t get to vote in Federal elections. Nothin’ in the game, why should you?
2. In any year there is a deficit of more than 3%, those sitting members of Congress may not sit for reelection in the next election.
3. Congress cannot exempt itself from any law placed on the citizens it represents.
Yeah, I know it won’t happen, but I’d sure like it if it could.
Yes, it does, and it should.
RE: Yes, it does, and it should.
And that my friend, is why your proposal will never pass.
47% pay no taxes and they want it to stay that way. We’ve already crossed the critical threshold.
Yes.
Everyone has skin in the game that way.
Without skin in the game, they don’t care how high tax rates are jacked up on the other guy.
A straight up tax...no deductions. I'm good with that also.
I agree. It would hopefull force people to pay attention to what's happening in DC.
It would eliminate politicians being able to buy votes through the tax code.
It just might even get some people to realize they can't sit on their butts all day and live off those paying the taxes.
It’s only hard because of a lack of leadership and principle on the part of politicians.
Funny how liberals were able to ram through something as complex and far reaching as Obamacare, but when it comes to significant tax overhaul and simplification, so-called conservatives proclaim no way, never happen, too complex, too much disagreement, you’ll just have to settle for some minor tinkering....
hows bout tax credit for those with no earnings?
Any income tax at all places intrusive record-keeping requirements on everyone, on every source of income, and such a tax penalizes earning. A consumption tax places record-keeping requirements only on vendors (who already must keep records anyway), which aren’t intrusive, and the tax penalizes consumption. Reduced earnings leads to poverty and economic weakness while reduced consumption leads to savings and to economic strength.
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