While I prefer a flat tax, I never confuse how taxes are collected with how much taxes are collected. We still have a huge overspending problem that needs fixing.
Most are missing the point of what is going on, it is not about taxes, not about which party is in control...it was all explained in this speech in a movie, Network...Ned Beatty is the speaker:
“...You have meddled with the primal forces of nature, Mr. Beale, and I won’t have it!! Is that clear?! You think you’ve merely stopped a business deal. That is not the case. The Arabs have taken billions of dollars out of this country, and now they must put it back! It is ebb and flow, tidal gravity! It is ecological balance!
You are an old man who thinks in terms of nations and peoples. There are no nations. There are no peoples. There are no Russians. There are no Arabs. There are no third worlds. There is no West. There is only one holistic system of systems, one vast and immane, interwoven, interacting, multivariate, multinational dominion of dollars. Petro-dollars, electro-dollars, multi-dollars, reichmarks, rins, rubles, pounds, and shekels.
It is the international system of currency which determines the totality of life on this planet. That is the natural order of things today. That is the atomic and subatomic and galactic structure of things today! And YOU have meddled with the primal forces of nature....!
....You get up on your little twenty-one inch screen and howl about America and democracy. There is no America. There is no democracy. There is only IBM and ITT and AT&T and DuPont, Dow, Union Carbide, and Exxon. Those are the nations of the world today.
What do you think the Russians talk about in their councils of state — Karl Marx? They get out their linear programming charts, statistical decision theories, minimax solutions, and compute the price-cost probabilities of their transactions and investments, just like we do.
We no longer live in a world of nations and ideologies, Mr. Beale. The world is a college of corporations, inexorably determined by the immutable bylaws of business. The world is a business, Mr. Beale. It has been since man crawled out of the slime. And our children will live, Mr. Beale, to see that perfect world in which there’s no war or famine, oppression or brutality — one vast and ecumenical holding company, for whom all men will work to serve a common profit, in which all men will hold a share of stock, all necessities provided, all anxieties tranquilized, all boredom amused.”
And now we have the chairman of the board, our distinguished Leader to bring us there.
Individual Income Tax
For a natural person or Subchapter S corporation a rate of: 10% on all income, however derived; no deductions
Corporate Income Tax
For a C corporation not paying dividends a rate of: 15% on all income, however derived; no deductions
For C corporation paying dividends a rate of: 0% (Dividends paid out are income to individuals or other corporations.)
Tariffs on Imported Goods
For Most Favored Nation, a rate of: 5% on all types (currently averaging 2.5%) For all other imports a rate of: 15%
Note: This does not solve the problem of inflation and capital gains, but this is just a tax proposal thread, so debating the gold standard isn't appropriate here. Also, this does not bring in quite the same amount as the 9-9-9 Plan, but we need to reduce what we spend, anyway.
our current tax code started as a flat tax...
the fair tax is the answer.
teeman