Posted on 06/03/2013 9:36:15 AM PDT by neverdem
Senator Ted Cruz offered a solution to the IRS’s scandal: get rid of the agency entirely and simplify the tax code so that tax returns fit on a piece of paper the size of a postcard.
“We ought to abolish the IRS and instead move to a simple flat tax,” Cruz said on Fox News over the weekend.
“Put down how much you earn, put down a deduction for charitable contributions, for home mortgage, and how much you owe,” he continued. “It ought to be just a simple, one-page postcard.”...
(Excerpt) Read more at nationalreview.com ...
Yes, you’re right, of course.
My answer was the brief version; I suffer from typing-phobia.
I like the thousands of pages now that tell me how not to pay taxes!!!
I don’t think senator Cruz is asking. He works for us
everybody pays 10%, no deductions for anything, no expenses count
everybody including companies charities and everybody pays 10%.
Freedom requires a zone of privacy around an individual including financial privacy.
We need a system of taxation that does not require an individual citizen to give up personal information to a bureaucrat or a bureaucracy.
An individual needs to have the right to keep his assets and where he parks his money private.
I’m referring to the general nature of bureaucracies.
This should go viral. Go Ted!
Personal Deduction of $5,000 per person in the Household. That will take care of the basic cost of living for low income households.
Include all sources of income, work, investments, welfare, housing allowances and food stamps.
Tax the remainder at 10%.
1. Eliminate the Corporate tax.
2. Eliminate all deductions
3. Charge a 15% on income above $20,000.
It is flat above $20,000. We could eliminate #3, but I do want an incentive to get people to work.
This would not actually end the IRS, though it would significantly reduce it in size. Somebody would have to root through all those postcards, and they would still need all the information to verify whether the information within was accurate.
The problems begin with exceptions, many of which are legitimate. Say a woman earns $100k, but she has 12 children and extensive medical bills. Thus her gross is high, but her net is small.
Compare her to a retired couple who earn $100k from a home business, but own their own home, have minimal medical expenses, so whose net is maybe 4/5ths of their gross.
I don’t think senator Cruz is asking. He works for us
The economy would boom to where citizens would be experiencing less government unfairness in this current governmental taxation overreach scheme.
This is just one of many reasons why the income tax is an antiquated, even archaic, hangover from our more primitive ancestors who imagined a man's life could be evaluated in terms of a family annuity of so many Quid per Month, or Pounds per Year!
It would certainly force government shrinkage like icewater.
That would require the 17th Amendment get yanked......and I like it!!
Doesn’t matter. It isn’t the job of government to equalize lives. It is their sole responsibility to fund the government. Anything else is over the line.
Flat tax for everyone.
If one couple saves, invests wisely, and lives within their means, good for them. Maybe the other woman needed to look at whether she could afford 12 kids before she asks for tax relief.
Everyone from pauper to millionaire should pay the same percentage.
Last partial update, March 2013.
Russia has a uniform rate of tax on the income of individuals. As of 2013 tax in Russia is payable at the rate of 13% for an individual on most income. (non-residents 30%). Russian residents pay 9% on dividend income. (Deduction at source).
Non-residents pay 15% on dividend income.
Exemptions are granted to certain income earners.
The standard rate of Russia corporate profit tax in 2013 is 20%.
Companies pay 9% tax on dividend income. Under certain terms dividend income received by companies with holding of 50% or more is entitled to participation exemption.
Russia Income Tax for an Individual
An individual is liable for tax on his income as an employee and on income as a self-employed person. Tax will be payable on income earned in Russia and overseas by an individual who meets the test of a “permanent resident” of Russia.
A foreign resident who is employed in Russia pays tax only on income earned in Russia.
To be considered a Russian resident, residence must be established of at least 183 days in Russia during 12 months in a calendar year.
An employer is obligated to deduct, immediately, each month, the amount of tax and national insurance due from a salaried worker.
A self-employed individual is obligated to make advance payments on income tax that will be offset on filing an annual report. In the case of a new business, the advance payments will be calculated on the basis of the business owner’s estimate. The advance payments will be made at least 3 times in each year.
Certain payments are deductible from taxable income as detailed below.
Russia Corporate Tax
The tax on company profits is made up of 2 rates:
- Federal tax - -2%.
- Regional tax - 18% (with a possible incentive reduction of up to 4.5%).
The maximum profit tax is 20
...and the 17th!
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