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Posted: 10/1/2011 8:07:16 PM EST
Seems to me that we could solve many of this countries problems with disposing of all but a few deductions and instituting a flat tax.  GE and other lawyer heavy corporations paying 16% with no loopholes certainly would make up for more than a few of our needs for defense and medicare.  

Federal, state and property tax, sales tax, gas tax.. the list gets longer everytime I look at it.

Imagine the entire US tax code being 20 pages long, instead of the 13,000+  pages it is now.

So why don't we change it? -
Link Posted: 10/1/2011 8:09:01 PM EST
[#1]
I'm all for a flat tax. I don't think its reasonable to expect people to comply with law that essentially nobody understands.



When lawyers make laws, this is what happens, gotta keep their friends in business.
Link Posted: 10/1/2011 8:09:31 PM EST
[#2]
Quoted:
Seems to me that we could solve many of this countries problems with disposing of all but a few deductions and instituting a flat tax.  GE and other lawyer heavy corporations paying 16% with no loopholes certainly would make up for more than a few of our needs for defense and medicare.  

Federal, state and property tax, sales tax, gas tax.. the list gets longer everytime I look at it.

Imagine the entire US tax code being 20 pages long, instead of the 13,000+  pages it is now.

So why don't we change it? -


Everyone and everything pays 15% tax. Ideally through a point of sale transaction. Companies get a 15% income tax, and consumers pay "purchase tax." You want that new flat screen tv well welfare momma you better be paying taxes. In all seriousness with every person paying a percentage it would be better. Everyone pays the same percent.
Link Posted: 10/1/2011 8:14:31 PM EST
[#3]
I like the idea.

Soak the poor.
Link Posted: 10/1/2011 8:14:48 PM EST
[#4]
When I first heard of a flat tax during the early 80's it was going to be 10% of your income



Now I hear 20% or even 25% of your income.



Where does it end
Link Posted: 10/1/2011 8:15:35 PM EST
[#5]
Its not progressive.
Link Posted: 10/1/2011 8:15:41 PM EST
[#6]
Link Posted: 10/1/2011 8:29:28 PM EST
[#7]
Because fair taxation isn't fair.
Link Posted: 10/1/2011 8:32:09 PM EST
[#8]
The bottom 50% would actually have to pay something instead of getting refund welfare?
Link Posted: 10/1/2011 8:36:04 PM EST
[#9]



Quoted:


The bottom 50% would actually have to pay something instead of getting refund welfare?


This.  I'm not sure a true flat tax is the way to go...  But "the poor" need to have some skin in the game.



And kill corporate taxes!  They do nothing but send jobs overseas.  It's not the cost of american labor, it's the fucking taxes that drive companies to build shit in China.  



 
Link Posted: 10/1/2011 8:43:23 PM EST
[#10]
Quoted:
Its not progressive.


as long as the 16th amendment exists all taxes will always be progresive regardless of what ever the congress enacts
Link Posted: 10/1/2011 8:43:39 PM EST
[#11]
There is a vast industry dedicated to taxation. There are law firms and accounting firms that defend claims and there are government departments that prosecute against the claims. There are computer makers and software companies that live on the tax code. Frank Lautenberg, the Senator from New Jersey, made his substantial fortune processing paychecks and dealing with the paperwork required to comply with federal and state tax codes. Lautenberg's net worth is estimated at $100,000,000.00.

That's nothing compared to the net worth of a partner at KPMG or Ernst and Young.
Link Posted: 10/1/2011 8:48:15 PM EST
[#12]
So let me ask this, in your mind you think that any business as well should be charged a flat tax rate on ALL income with no deductions or shelters like it is now?

edit - I know with low margin businesses like the one i'm in we count on those shelters to stay in business. I can say confidently that my company and most in my industry would go under without them. We use every loophole in the book and constantly stay in the grey area of the tax code just to make a profit margin of less than ten percent.
Link Posted: 10/1/2011 8:51:23 PM EST
[#13]



Quoted:


There is a vast industry dedicated to taxation. There are law firms and accounting firms that defend claims and there are government departments that prosecute against the claims. There are computer makers and software companies that live on the tax code. Frank Lautenberg, the Senator from New Jersey, made his substantial fortune processing paychecks and dealing with the paperwork required to comply with federal and state tax codes. Lautenberg's net worth is estimated at $100,000,000.00.



That's nothing compared to the net worth of a partner at KPMG or Ernst and Young.


That's probably more it than anything. Make the tax code simple and lay off 50% of the IRS, never gonna happen. Make the tax code simple and put 100,000+ tax attorneys out of work, never gonna happen. Make the tax code simple and put H&R Block, Turbo Tax, and many CPAs out of business, never gonna happen.  



 
Link Posted: 10/1/2011 8:53:50 PM EST
[#14]
Well, the argument is that for a rich person to paying 10% may be a lot of money, say $100k out of $1,000,000 income.  However, in terms of earned income that is retained it is nothing compared to a poor family that has to pay $2k out of $20,000.  Certainly $2k is much less but represents a lot of money to the poorer taxpayer.

As for myself, I prefer a flat 10% tax over our current tax system.
Link Posted: 10/2/2011 1:24:27 AM EST
[#15]
A flat tax is better than what we have now, but the FairTax is even better than that.

Get a copy of Neal Boortz' FairTax:The Truth and educate yourself.  It's an inexpensive paperback that just may change the way you think about taxation.

The FairTax would be the biggest shift in power from the government to The People since this nation was founded.  

Link Posted: 10/2/2011 1:27:06 AM EST
[#16]
because if the bottom half actually payed taxes (out of their income rather than through price increases and lost wages and opportunity) they wouldn't vote for more government and the democrat party would not exist therefore they will block it.

 
Link Posted: 10/2/2011 1:27:32 AM EST
[#17]
Quoted:
Its not progressive.


It's actually called a regressive tax, and it's bad news.
Link Posted: 10/2/2011 2:12:10 AM EST
[#18]




Quoted:



Quoted:

Its not progressive.




It's actually called a regressive tax, and it's bad news.




Bad news? Depends on which end of the scale you sit on... I'd be paying slightly more taxes (I pay ~17% federal income tax annually) but honestly it would be worth every penny, so Billy Joe and Shaquita can't buy nice things without income. I like Herman Cain's plan so far, until we can get a 20% national SALES TAX and get rid of income tax all together.
Link Posted: 10/2/2011 4:02:28 AM EST
[#19]
Karl Marx specified a heavy progressive tax as part of the Communist Manifesto. Therefore a flat tax is bad because Karl didn't approve it.
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