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flat tax 10% across the board!!!!why not

Discussion in 'Uncategorized Threads' started by maclellan1911, Oct 17, 2008.

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  1. maclellan1911

    maclellan1911 TS Member

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    Why can there not be a flat tax of say 10% for everyone......personal income business income big corporations ect ect regardless of the amount made. from what I hear of obamas plan only 10 million people will get a TAX BREAK. Im asumeing thats the people making a combined income of less than 42K since thatd where obama wanted to raise taxes. ok so for the largest tax paying base 42k - 224,999 k nothing changes.
     
  2. turmite

    turmite Member

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    maclellan, I get nauseated every time I hear this, and not for the reason you might think. This is exactly Mike Huckabee's tax plan but he even went further and wanted to do away with the IRS in it's current behemoth configuration! The media had a large part to do with getting John McCain nominated because they thought Obama could defeat him much easier than he could Huckabee! Now that's my conspiracy theory, and I'm sticking to it! ;)

    Personally the perfect Repub ticket would have been Huckabee/Palin. I can assure you that the debates would have been much more lively with Huck there and he would not have been afraid to go after Obama on anything. But.......we don't have him and must fight the fight of freedom regardless.

    Mike
     
  3. maclellan1911

    maclellan1911 TS Member

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    mike, I want in put on why not a 10% tax on for everyone regardless of income. you make 1000.00 per year you owe 100 make a million 100,000.00 no min or limit 10% fair for all, no.
     
  4. Bisi

    Bisi TS Member

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    I like the "Fair Tax". It seeks to do away with the IRS and replace the income tax with a national sales tax.
     
  5. mixer

    mixer Well-Known Member

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    It's too simple to work. It would be interesting to see what a single person making say $65k would pay under our present system -vs-the 10% flat tax payment of $6500.


    Eric
     
  6. pendennis

    pendennis Well-Known Member

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    There are a couple of schools of thought on taxes.

    1) - A flat tax on everyone's income. Great idea. The downside, is that it would take real political cojones to do it. The upside, is that wages and salaries would head north for everyone.

    2) - National Sales Tax - Another great idea. Those who buy the most pay the most in taxes. Exempt food and prescription drugs only.

    Both are great ideas and it would take a great deal of political will to enact.

    What is needed, however, is an amendment to the U.S. Constitution, to limit the consumption of the U.S. GDP to a set percentage by the government, say 15%. The U.S. tax rate on GDP would never be greater than 15%, whether by sales or income. Pick one only. The only exception would be for a Congressionally-declared war, and then only for the duration, and then only a set percentage in excess of 15%. The public teat suddenly gets smaller, and everyone gets to pull the wagon. Fewer riders.

    If the beast doesn't get its mother's milk, it can't become a bigger beast.

    Dennis
     
  7. Shooting Coach

    Shooting Coach Well-Known Member

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    Europe calls this the VAT, or Value Added Tax. A National Sales Tax without exemption except for food and medications will work.

    Since I am a tightwad, except for firearms and training, I would do well. Those who live to buy stuff will not.
     
  8. truthseeker

    truthseeker Member

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    I like a "consumption" tax better than a flat tax. The more money you make, the more money you spend, the more taxes you pay. Can't get much more simple than that.
     
  9. School Teacher

    School Teacher Well-Known Member

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    My understanding is that nations who impose Value Added Taxes (VAT) do so as a last resort. Many Europeans do not comply with tax laws so the governments tax the "adders of value" who are easier to identify and can be made to follow the tax laws. Americans, compared to other nations, are generally compliant when it comes to paying taxes.

    A flat tax, without exemptions, would be tough on lower income levels, the housing industry (no mortgage deduction) and charities. This is a Republican issue and it has IMO zero chance in the near future.

    If the Democrats take control of the Presidency and Congress, IMO, they will institute massive payments to individuals who pay no taxes. This IMO may lead to a new national welfare system.

    Why work hard to get ahead if the government is going to take more of what you make?

    Ed Ward
     
  10. maclellan1911

    maclellan1911 TS Member

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    Ed, you know thats what I got out of obamas little rant about his tax break on wednesday night.
     
  11. sammyd95

    sammyd95 TS Member

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    regardless of what and how you do it the RICH wont be happy !
     
  12. hmb

    hmb Well-Known Member

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    It makes too much sense. HMB
     
  13. Big Az Al

    Big Az Al Well-Known Member

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    35 to 40 years ago My parents and their pers were discussing the Alternitive minimun income tax, this was at a time when middle class income was in the 4 to 6 thousend dollar a year range, poeple making 10 K had it going and man those fat cats at and above 20K they had it made!

    My dads argument then, as I will argue now is the because inflation is a FACT OF LIFE, bO's line in the sand at 250,000 is eventually going to be were the working class has to earn to get by.

    So the 10% flat tax, 15% max by GDP makes sense!

    But when you look at all the TAX LAWYER's that would be out of work, with a simple tax code, DO you think it has a chance?????

    Al
     
  14. Bob Hawkes

    Bob Hawkes Well-Known Member

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    John Mac, There was a good book a few years ago called FAIR TAX ?? I remember it was by Neil Boortz and a congressman who I can't remember right now. Good read and a lot of sense. Unfortunately, I don't think the Washington mentality will ever change. Bob
     
  15. BIGDON

    BIGDON Well-Known Member

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    If you can remember Forbes tried to run for president on the single tax, no IRS and everyone thought he was crazy and he couldn't get the nomination. Makes to much sense.

    Don
     
  16. halfmile

    halfmile Well-Known Member

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    Welfare costs would increase, all the IRS and tax lawyers out of work.

    HM
     
  17. mixer

    mixer Well-Known Member

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    Any one of us can see which way we would have been better off. Look at your tax return that was filed this past April. See what your gross income was and what you paid in federal taxes, then see if a flat tax of 10% would have been more or less than you paid on your gross income. Should be interesting to hear the results.

    Eric
     
  18. birdogs

    birdogs TS Member

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    Let's go back to square one. What is the justification for taxes? Is it that the government needs money or is it that the people need to support the government which functions on their behalf? On the surface these 2 points may sound the same but there are subtle differences which separate them by miles.

    Let's take national defense. The goverment protects ALL the people but those who have more to lose effectively receive more protection. If you insured something of greater value than someone else, you would expect to pay higher premiums, right? Then why shouldn't the rich pay more taxes since they have more to protect? Mind you, I don't subscribe to this but it is certainly a defensible argument.

    There are many more arguments/philosophies which COULD shape tax policy and which could be "justified". The only tax policy that cannot be justified under our Constitution is "wealth re-distribution" although it can be justified morally under the precepts of several major religions.

    I know that this sheds no light on which is the "correct" tax policy but I hope it points out how complex the matter is.
     
  19. Dickgshot

    Dickgshot Well-Known Member

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    Having been involved in taxes for almost 50 years, I have heard this same discussion for....50 years.

    Flat tax, consumption tax, sales tax, etc. it doesn't matter because it won't ever happen. It makes good campaign rhetoric, but anybody who got elected on that platform would drop it like a hot potato the day they took office.

    The tax structure has so much effect on society, that any -even minute-change can have catastrophic results. The example I always think of is when the IRS decided to tighten up the substantiation requirements for business entertainment expense. Millions of businessmen simultaneously decided that they couldn no longer take clients out for expensive drinks and dinner.

    That one rule practically destroyed the restaurant industry, and after some intense lobbying by the NRA (the other NRA-National Restaurant Association) the IRS did some of the fastest backpedalling you ever saw.
     
  20. Recoil Sissy

    Recoil Sissy Well-Known Member

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    Gentlemen:

    You are missing the point. A complex tax code is "best" for politicians.

    Any form of tax raises revenue for the government. However, the purpose of an inordinately complex tax code is to provide endless opportunities for pols to raise campaign contributions and line their own pockets.

    If a pol threatens (even suggests) legislation to increase taxes on "Industry A", he/she can expect immediate financial support from the competitors of "Industry A". For example, if someone's campaign suggests a tax increase on interstate trucking, the railroads and barge companies will donate big cash to that candidate. However, the suggestion to expand or eliminate deductions for an existing tax is enough to get big money flowing a politician's way.

    Simply stated, when there are endless tax code provisions, there are endless opportunities to punish your enemies, reward your friends, and line their own pockets. A flat tax would go a long way towards raining on their parade.

    Politicians will NEVER willing give up that kind of power.

    sissy
     
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