Koolblue13 Posted November 11, 2008 Share Posted November 11, 2008 I am a flat tax kind of guy. I would impose the only revenue the federal government should receive is via a fixed percentage on all of our combined income. I believe that number would be around 23% right now. We talk about what is fair, but I don't think anything else has the balance this would. That fair tax/ sales tax would still create loopholes and ways for people to move around in. It would also still require a large central group (IRS) to handle all the ins and outs. I like it, but think the Flat Tax is better. Then we have the present system, in which we can all agree is hosed. Some seem in favor of a larger percent being paid by corporations and the wealthy. I'm just curious. What do you want. Link to comment Share on other sites More sharing options...
China Posted November 11, 2008 Share Posted November 11, 2008 Define income. Are health benefits income, and would they be taxed? There's always going to be someone mucking up the system, whatever system you put in place. While simpler may be better, many people like it complicated because it benefits them when they know how to work the system. Link to comment Share on other sites More sharing options...
Koolblue13 Posted November 11, 2008 Author Share Posted November 11, 2008 Define income.Are health benefits income, and would they be taxed? There's always going to be someone mucking up the system, whatever system you put in place. While simpler may be better, many people like it complicated because it benefits them when they know how to work the system. One tax. Your own personal income tax, that's it. Whatever you get paid, a percentage comes out. Link to comment Share on other sites More sharing options...
China Posted November 11, 2008 Share Posted November 11, 2008 One tax. Your own personal income tax, that's it. Whatever you get paid, a percentage comes out. Are health benefits a form of payment? Link to comment Share on other sites More sharing options...
Koolblue13 Posted November 11, 2008 Author Share Posted November 11, 2008 Are health benefits a form of payment? No. Link to comment Share on other sites More sharing options...
dcnativenerd Posted November 11, 2008 Share Posted November 11, 2008 The flat tax always seemed like the most logical tax plan. Link to comment Share on other sites More sharing options...
Kilmer17 Posted November 11, 2008 Share Posted November 11, 2008 Consumption. I might even support a PROGRESSIVE consumption tax. Link to comment Share on other sites More sharing options...
DirtyBird Posted November 11, 2008 Share Posted November 11, 2008 I voted comsumption because income is hard to define and easily exploited. Federal sales tax I think would be most fair. Link to comment Share on other sites More sharing options...
AsburySkinsFan Posted November 11, 2008 Share Posted November 11, 2008 Too easy, flat tax everyone pays the same percentage. Consumption tax leaves to many loopholes and allows people to take money out of country to avoid paying taxes, as such the rich will still get richer while the middle class continues to bear the tax burden. Current system blows. Link to comment Share on other sites More sharing options...
endzone_dave Posted November 11, 2008 Share Posted November 11, 2008 Jack up the tax rate on those making $5 million or more per year. Reaganomics doesn't work. Link to comment Share on other sites More sharing options...
NavyDave Posted November 11, 2008 Share Posted November 11, 2008 Sounds fair but class warfare types discovering that the rich wont have their billions taxed just what they annually earn would have a fit. How about property taxes? In virginia if you own two cars or more you'd pay a luxury tax. How can they let go of all that loot err fundage for the children?? Link to comment Share on other sites More sharing options...
NavyDave Posted November 11, 2008 Share Posted November 11, 2008 Jack up the tax rate on those making $5 million or more per year. Reaganomics doesn't work. It works well if you control spending. Giving people a disincentive to earn money will exactly do what for America except resemble nations that suck in Europe? Link to comment Share on other sites More sharing options...
Thiebear Posted November 11, 2008 Share Posted November 11, 2008 everything you buy in or from the US... (except food/beer) If your poor, you don't buy much so don't get taxed much. If your rich, you buy lots of "stuff" 4k plasma and pay more. Link to comment Share on other sites More sharing options...
endzone_dave Posted November 11, 2008 Share Posted November 11, 2008 Jack up the tax rate on those making $5 million or more per year. Reaganomics doesn't work. He's a chart that invalidates what I just said: According to this, the tax rate of the weathiest doesn't play much of a role in the amount of taxes taken in by the government. Link to comment Share on other sites More sharing options...
Bliz Posted November 11, 2008 Share Posted November 11, 2008 I am a flat tax kind of guy. I would impose the only revenue the federal government should receive is via a fixed percentage on all of our combined income. I believe that number would be around 23% right now.We talk about what is fair, but I don't think anything else has the balance this would. That fair tax/ sales tax would still create loopholes and ways for people to move around in. It would also still require a large central group (IRS) to handle all the ins and outs. I like it, but think the Flat Tax is better. Then we have the present system, in which we can all agree is hosed. Some seem in favor of a larger percent being paid by corporations and the wealthy. I'm just curious. What do you want. Too easy, flat tax everyone pays the same percentage.Consumption tax leaves to many loopholes and allows people to take money out of country to avoid paying taxes, as such the rich will still get richer while the middle class continues to bear the tax burden. Current system blows. The "fair tax" would lead to even more tax evasion than we have now. The flat tax is a scam designed to benefit the wealthy at the expense of everyone else, and in a way is more of a wealth distribution than the current system (which we can all agree sucks). Diminishing marginal utility of the dollar says that with each additional dollar you have, their "value" to you goes down. The goal of a tax system should not be to artificially treat unequal people as equal. The goal is to make everyone feel approximately the same "pain" when they pay taxes. For someone making $2 million a year, vs someone making $40,000 per year, those percentages of income are not equal. FWIW, every western country in the civilized world utilizes a progressive tax, because it's the logical, and yes, most fair, tax system we can come up with. Who uses flat tax? Eastern Europe and Iraq. Link to comment Share on other sites More sharing options...
Hubbs Posted November 11, 2008 Share Posted November 11, 2008 My problem with the consumption tax: it seems to discourage, well, consumption. And since our economy is based on consumption, doesn't this pose a bit of a problem? Link to comment Share on other sites More sharing options...
Koolblue13 Posted November 11, 2008 Author Share Posted November 11, 2008 The "fair tax" would lead to even more tax evasion than we have now.The flat tax is a scam designed to benefit the wealthy at the expense of everyone else, and in a way is more of a wealth distribution than the current system (which we can all agree sucks). Diminishing marginal utility of the dollar says that with each additional dollar you have, their "value" to you goes down. The goal of a tax system should not be to artificially treat unequal people as equal. The goal is to make everyone feel approximately the same "pain" when they pay taxes. For someone making $2 million a year, vs someone making $40,000 per year, those percentages of income are not equal. FWIW, every western country in the civilized world utilizes a progressive tax, because it's the logical, and yes, most fair, tax system we can come up with. Who uses flat tax? Eastern Europe and Iraq. I have to disagree with a good amount of what you are saying here. Everybody paying the same percentage of their income, is the only way we have a fair taxation system. Link to comment Share on other sites More sharing options...
zoony Posted November 11, 2008 Share Posted November 11, 2008 What we have now isn't too bad imo. It could be refined some more but I think overall it's pretty good. Link to comment Share on other sites More sharing options...
Ford Posted November 11, 2008 Share Posted November 11, 2008 Hooray for slanted poll answers! Link to comment Share on other sites More sharing options...
zoony Posted November 11, 2008 Share Posted November 11, 2008 The Fair Tax is nonsense. I wish it would go away. Link to comment Share on other sites More sharing options...
Bliz Posted November 11, 2008 Share Posted November 11, 2008 I have to disagree with a good amount of what you are saying here.Everybody paying the same percentage of their income, is the only way we have a fair taxation system. I have an idea, it's called the Fair Prison System. All criminals are criminals, and the degree of their crime shouldn't be taken into account. So if you commit a crime, you get 4 years in prison. It's the only way to ensure we have a fair justice system that treat all criminals equally. Flat tax is an unfair and economically untenable system. Compared to the progressive tax system employed by literally the entire western world, the flat tax (employed only by Iraq and the former Soviet republics) effectively raises taxes on the middle class, cuts taxes by an increasingly high amount the more money you make, and increases the deficit by reducing surplus. The entire premise is ridiculous. Turning a blind eye to the reality of people's lives is not treating them equally, nor is pretending that there is no difference between disposable income and cost of living. If you disagree with my comment about decreasing marginal utility, well you're wrong. The concept of decreasing marginal utility is a basic concept of economics, and it applies equally as well to goods and services as it does to your income. Think about it in the most basic terms: how you would go about grocery shopping or buying a car if you made $20,000 per year, $80,000 per year, $250,000 per year, or $2 million per year? Would it be exactly the same? Obviously not. Taxes are relative, and the less you money you make, the more you are hurt by losing 23% of your income to taxes. If you really think all of those people are exactly the same, and that taking 23% of each of their incomes is treating all of them equally, well then I have a bridge to sell you in Alaska. Link to comment Share on other sites More sharing options...
Duncan Posted November 11, 2008 Share Posted November 11, 2008 He's a chart that invalidates what I just said: According to this, the tax rate of the weathiest doesn't play much of a role in the amount of taxes taken in by the government. This is why Obama is not going to give a tax cut to the "middle class". Income tax on the middle and upper middle class is where they are going to get the money. Link to comment Share on other sites More sharing options...
Kilmer17 Posted November 11, 2008 Share Posted November 11, 2008 I propose the K17 tax system. Everyone gives all of their money and assets to me, and I get to decide who gets it. Link to comment Share on other sites More sharing options...
Titaw Posted November 11, 2008 Share Posted November 11, 2008 The Fair Tax is nonsense. I wish it would go away. Not trying to be a dick, I genuinely want to get your opinion, but how is it nonsense? I value your opinions Zoony and I would like to see what you have to say about this. Link to comment Share on other sites More sharing options...
zoony Posted November 11, 2008 Share Posted November 11, 2008 Not trying to be a dick, I genuinely want to get your opinion, but how is it nonsense? I value your opinions Zoony and I would like to see what you have to say about this. Well who can show that it isn't? Beyond some dubious calculations made by egotistical radio hosts and nobody-politicians, nobody has really put anything forward that stands up to any kind of real scrutiny. What countries out there have implemented a national sales tax of over 10% and been successful with it? How anyone can see the thriving illegal drug market in this country, and how easily it exists- then on the same hand NOT think that a black market wouldn't flourish under a 30% sales tax- I don't get. Also, do we want to turn every business in the country into tax collectors? Also, the fair tax model places equal value on elastic and inelastic demand, and rules out many market forces such as prestige purchasing that are very real considerations in order to make the model work. Link to comment Share on other sites More sharing options...
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