Lies. The TDSers on Free Republic told me Trump’s just like Bernie Sanders.
Wow. But, wait. He’s a lifelong Dem, and a phony Conservative. This wasn’t supposed to happen.
Folks making below 30K almost all get money FROM taxes - check out the Earned Income Tax Credit. Someone making 25K may pay no taxes but get a 3K “refund”. Making them pay 1% would be a big tax increase.
But if everyone DID pay less, that leaves an even bigger deficit - unless spending is cut. Anyone want to bet on that?
“So it is obvious the Club for Growth (for China) is desperate and lying that Trump will raise taxes! Trump should sue CFG for China. The cheap labor express is desperate!
1 posted on 9/15/2015, 9:59:37 PM by entropy12”
Might shut up some of the Trump haters on FR who have doing the same as the CFG.
Heck. I like it!
That seems reasonably fair to me
How.Do.You.Define.Income???
The complexity of the current code is largely due to the difficulty in defining income.
Any tax on income will become extremely complex over time.
Conservative talks shows like Glenn Beck, Red Eye Radio (Eric Harley and Gary McNamara), David Madeira are also all lying about Trump raising taxes.
There are tens of millions in this bracket. This would not only make it extremely fair, easy and uncomplicated for them to deal with taxes, but they would be getting some well needed relief from these complex con-job tax shams.
It appears straight forward but some implications:
1. Social security 13% up to 105K.
2. Medicare 2.9% or greater on all income.
3. No mortgage deduction.
4. If you have a business, you still track deductibles.
5. Local sales and property taxes remain.
What leaders need to do, more importantly, is scale back regulations like wheelchair ramps of a certain width, maternity leave meddling etc.
I like the concept, but will it bring in enough? I thought break even was something like 17%.
FAIR Tax.
As long as there is ANY Income Tax, no matter how low, no matter how flat, no matter how simple, the punitive, “PROGRESSIVE” income tax will COME BACK. Because BOTH Democrats and Republicans know they can buy votes by stirring up ENVY.
Just filed business taxes today. Took a huge loss. Accountant charge was $775 for 48 pages of wasted paper.
Next month personal taxes will also be upside down but now we’ll have to pay special “self employed” tax.
Small business is getting killed!
"He works hard, and does whatever he can to pay the minimal amount of taxes to President Barack Obama."
As a consequence of Trump being a low-information candidate imo, he probably does not understand the following. The Supreme Court had clarified limits on Congress’s power to lay taxes. More specifically, state sovereignty-respecting justices had clarified that Congress is prohibited from appropriating taxes in the name of state power issues, essentially any issue, such as Planned Parenthood, which Congress cannot justify under its constitutional Article I, Section 8-limited powers.
“Congress is not empowered to tax for those purposes which are within the exclusive province of the States.” —Justice John Marshall, Gibbons v. Ogden, 1824.
Trump also probably does not understand that the reason that federal taxing and spending is so astronomically high is because the post-17th Amendment ratification Senate is not doing its job to protect the states as the Founding States had intended for the Senate to do.
More specifically, many generations of corrupt senators have not been killing unconstitutional House appropriations bills which Congress cannot justify under its Section 8-limited powers, bills which arguably steal not only 10th Amendment-protected state powers, but also state revenues associated with those powers.
The ill-conceived 17th Amendment needs to disappear, and corrupt senators and unconstitutional federal taxes along with it. Hopefully the next conservative president can lead the states to do what needs to be done.
Bttt
This is a “graduated flat tax?” As in, no deductions, no exemptions, etc.?
That’s a sucky plan. It’s not a flat tax, and one of the reasons it sucks is it will take about 15 minutes after its passage for the criminals in Washington to start tampering with the system for personal gain.
If we reduced the size of the Federal Government by 55% we could simply eliminate income taxes all together.
A side note: I’ve been here long enough and seen enough to smell a Zot storm coming. This is not directed at you, entropy12.
When was this published?
It is a progressive tax plan, which I am against, but it is far far better than what we have now.
Published in 2011.
If he keeps this plan, he just might win the election.