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To: SeekAndFind
Making such plans revenue-neutral, when top rates would fall on wealthy Americans, would mean raising taxes on someone else — such as millions of middle-to-low income Americans.

He's saying this like it's a bad thing. Right now, the top 10% of income earners in the US carry almost 70% of the federal income tax load. The lowest 51% pay nothing. To me, if you don't have anything in the game, you don't get to play. This means 51% of the population shouldn't have the right to vote in federal elections. Raising rates on those 51% doesn't bother me in the least. I think a flat tax of 17% (Friedman's rate) with a $20K personal deduction would work. Saying you can't make this kind of change because businesses have made their plans based on the current tax code is a specious argument at best. Businesses adjust to changing tax codes all the time. With the flat tax, you could file your return on a postcard. As it is now, try calling the IRS to answer a complex tax question...five calls, five different answers. They don't even know the answers. Nope...it's time to scrap the current tax code and I think a flat tax is the best alternative.

11 posted on 05/28/2013 8:36:06 AM PDT by econjack (Some people are as dumb as soup.)
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To: econjack
The economic impact of reducing the tax code and rates hasn't been probably studied, nor do the implications of having everyone pay taxes and having a skin in the game. The results would be incredible

As if low income and the middle class hasn't been paying taxes. They are! But with debt. That will have to be paid at some point. A large company and such can simply move to another country. Debt does not trouble them at all. Pile it onto the citizen.

16 posted on 05/28/2013 8:54:25 AM PDT by Theoria
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To: econjack

17% with that deduction is little high IMHO.


30 posted on 05/28/2013 12:11:14 PM PDT by gura (If Allah is so great, why does he need fat sexually confused fanboys to do his dirty work? -iowahawk)
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