The "10% Flex" Tax plan, a novel idea for Taxes and Tariffs ~ Vanity

GraceG

[going hot]

if so, then employees would have 7 % ss, and only room for another 3% in any combination?
I like!
Now, employers currently pay the entire 15.% ss. so...do they get it reduced by 5 % to get it under ten?

[TheNext]

The Tariff is the ONLY tax that helps America as Democrats raise it higher.

All other taxes destroy America as Congress raises it higher. The debate is over.

If a sector is harmed by Trump tariffs, blame the other high taxes.

#TariffGood #NativeTaxBad

[GraceG]

[ The Tariff is the only Conservative tax.

Ban all other taxes is original America.

You taxers are all flaming liberals. ]

1% - 10% Tariff and nothing else

My plan support a Tariff only, if you would like it that way.

[GraceG]

[ if so, then employees would have 7 % ss, and only room for another 3% in any combination?
I like!
Now, employers currently pay the entire 15.% ss. so...do they get it reduced by 5 % to get it under ten? ]

All total percentages combined cannot exceed 10% and must be in 1% increments. If they could get the total cumulative under 5% they could do that as well.

[Secret Agent Man]

Unfortunately without a severe massive upheaval of the current systemmit will not occur.

There is no upside for any of the current flotsam to do this. Therefore they will not.

When in your lifetime has fedgov given any real power back to the people. I cannot think of any.

[kvanbrunt2]

I assume businesses would also be exposed to the national sales tax. Wouldn’t levying a business tax on top of that be double taxation?>>>> that is a description of a vat. national sales tax would be retail only

[PGR88]

Well done. Thinking outside the box.

I have always believed FLAT taxes are the way to go. No deductions, easy to calculate and plan for.

Our present tax code is a source of great corruption - everyone angling for a special break, credit or rebate. Absolutely none of that with a flat tax. Helps greatly to limit corporate cronyism and political corruption. Moreover, IRS can’t be used as a political weapon, as they are now in our highly complex tax regime.

[TexasKamaAina]

I think it was Walter Williams who said that when people start debating the form of taxation the real problem is excessive taxation. Nobody really cares much about how taxes are collected until they become excessive.

[semimojo]

I appreciate the concept but I think you're mixing up a few things.

They question is 10% of what? Income? Sales? Value of imported goods?

A 10% income tax will bring in a very different amount of revenue than a 10% sales tax.

I like the effort but I think you need to work on the definitions a little.

[nitzy]

The issue that I see with this is that it would quickly devolve into a 10% tax of whichever category was the largest.

For example if we do $500B in imports, we have $1T in personal income, we have $2T in business income and $4T in total national sales.....Congress would quickly settle on a 10% sales tax.

Why mess around with 2% of $1T or 4% of $500B when you can cut to the chase and just take 10% of $4T.

I am just making these numbers up but certainly there will be some differences in the total amounts of the 4 categories. It would take a few seconds for congress to figure out which category was largest and tax it at 10%.