FLAT TAX MAY BE A "GO"

Fiedor Report On the News #312 ^ | 8-14-04 | Doug Fiedor

[forest]

IRS should be abolished. No one in IRS or Congress understands all of it, yet we must obey.

Armey and Hastert say a flat tax filed on a postcard could double the economy in 15 years.

Forbes says junk it and eliminate source of corruption.

Washington's lobbying industry generates $8.4 billion each year.

[thepitts]

Never going to happen.

[coconutt2000]

Yay! I didn't think I'd see the flat tax so seriously considered within my life time!

[forest]

"Washington's lobbying industry has flourished. Washington's lobbying industry, which is the largest private employer in the nation's capital, generates $8.4 billion in revenue each year."

Not all of the lobbyists' salaries and commissions would suck up all those bucks. So just who gets all that money?

[Mr. Mojo]

Love the flat tax, and totally support abolishing the IRS, but 17% is a bit on the high side. 10% is more reasonable, and we could get it down to 5% (with no write-offs) if we did the right thing and cut the socialist/welfare state down to size.

[Taxbilly]

Never going to happen.

You got that right!

[bfree]

If you do that, how can democraps punish those that produce? How can they re-distribute wealth to their voters?

[Libloather]

"Families, for example, would not know what to pay for a house because they wouldn't know if their mortgage interest would be deductible."

Smart enough to get the loot to purchase the item, but too stoopid to figure out the payments? Just how many crack dealers are out there?

[EGPWS]

Never going to happen.

Sadly enough you are right to a point for as long as politicians are politicians as a way of life without term limits, the lawmakers will never give up their hold on the influx of government money.

If I have inferred the idea of greed and self promotion within government, I don't apologize.

[jocko12]

This must be a good thing,the Demwits are squealing loud.

[Robert_Paulson2]

Government will NEVER give up it's "golden goose/favorite pit bull".

the goose gets them our wallets, and our property.
the pit bull enforces social policies at gunpoint.

never.
Just think of what it would do to the financial industry paper pushers like Deloitte and Touche. Billions in billable hours... gone.
Taxation and compliance issues via the tax-accounting industry are a substantial portion of america's GNP.

never will it happen.
but we can dream, no?

[Reagan Man]

For many years conservatives have been calling for abolishing the IRS and instituting a flat tax. Most of the percentages for such a flat tax have fallen somewhere between 17% and 22%. Both figures seem a bit on the high side. One fact is certain. No matter what tax reform might finally be agreed to, it will have to include a method for lower and middle income Americans to keep deducting their mortgage interest payments. Under the circumstances, that shouldn't be a big problem. When you consider that in 1950 a typical family of four paid 5% to the feds, any tax reform would be worth the effort.

[nothingnew]

I have updated my FMCDH sign-off with the addition of (BITS).....Blood In The Streets, which I foresee coming soon, due to the enormous increase of the Marxist progressive movement being shoved down the throat of this failing REPUBLIC through the Judicial tyranny of fiat law, the passing of unconstitutional laws by the Legislative and Executive branches of our government and the enormous tax burden placed upon the average American to support unconstitutional programs put forth by Marxist ideology.

FMCDH(BITS)

[theFIRMbss]

>abolish the Internal Revenue Service and replace the current tax system with either a flat tax, a national sales tax or a value-added tax

This will never fly.
Sure, everyone hates taxes,
but value-added

is what Europe does,
and others amount to
abolishing tax

on corporations
and having citizens pay
the whole tax burden.

(And that crap about
"corporations don't pay tax
they just pass it on"

will get a horse laugh
in the real world.) Learn to love
our dear IRS.

[moehoward]

bump

[PokeyJoe]

I wish it were true, but too many special interests rely upon the current system.

[WileyC]

Heh. You are right about the 5% figure... especially considering how much growth it would generate would mean that the govt, in actual dollars, would have as much as it does not in under 15 years.

But lets get ANY GOOD flat tax or NST passed and fight the good fight on the other end later!

[Notwithstanding]

How is a flat tax going to help a couple with 4 kids who make $60K and take a standard decduction?

With a 17% flat tax, they would have huge tax bills compared to the one they now have (in the 15% bracket and with only half of their income taxable after standard exemptions and deductions, and recieving $4k in standard child tax credits)?

[badbert04]

Two things.

With a 17% flat tax we'd be bankrupt as a nation. I'd like to see the numbers but I'm sure that the revenue the gov cleects would go way down.

Also, the politicos in Washington love the tax system we have now. Its their number one source of power. If they want to get us to do something - buy something, invest in something, etc. - they give us tax breaks to do it. If they don't want us to do something they tax the snot out of it. If they want to do a favor for a friendly corporation they get them a special tax break. Do you think they will give up all this power? I don't.