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10-07-2016, 12:48 PM
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Senior Member
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I have long thought a simple 20% tax on all income, be it personal or business, would solve a lot of problems. No deductions, no loop holes, no exceptions, just a straight 20%.
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10-07-2016, 12:53 PM
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Flat-tax schemes are a bonanza for the 1%, shifting the burden to the poor and middle-class.
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10-07-2016, 01:03 PM
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Senior Member
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Quote:
Originally Posted by donquixote99
Flat-tax schemes are a bonanza for the 1%, shifting the burden to the poor and middle-class.
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Really? Trump has paid zero but then would have to pay %20. If he loses money, he loses money. The losses would never be part of the equation. So how much do business and the wealthy pay now, as an average percentage? I have no idea, this is not a cynical question.
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Instead of a debate, how about a discussion? I want to learn, I don't care about winning.
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10-07-2016, 01:06 PM
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Senior Member
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Join Date: Nov 2009
Location: Sonoma County, CA
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Quote:
Originally Posted by JCricket
I have long thought a simple 20% tax on all income, be it personal or business, would solve a lot of problems. No deductions, no loop holes, no exceptions, just a straight 20%.
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Are you talking about a flat tax or a top marginal rate? A 20% income tax would be unsustainable for most middle class families and all poor families. A graduated income tax is essential in a country that has the disparity in incomes that we have here.
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10-07-2016, 01:42 PM
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Senior Member
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Join Date: Aug 2011
Location: Derby City U.S.A.
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Like I stated before, property taxes are based on value. Higher the value the higher the tax. If one can afford a big home, lots of land, then pay more in taxes. Same with commercial property, taxed at a higher rate. At least in the two states I have owned property, that is the way it worked.
A country can not rely on the wealthy spending habits to fund the economy thus receive revenue. Revenue mind you paid by those who do not qualify for deductions on a whole. Any more most federal tax payer file standard deduction rather then itemize.
Barney
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10-07-2016, 02:30 PM
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Quote:
Originally Posted by JCricket
Really? Trump has paid zero but then would have to pay %20. If he loses money, he loses money. The losses would never be part of the equation. So how much do business and the wealthy pay now, as an average percentage? I have no idea, this is not a cynical question.
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Policy isn't made just based on one guy. Not many of the super-rich ever have nearly billion-dollar losses to apply for years and years. The very richest do pay less tax than most of the top one percent.
Some good info here: http://www.americansfortaxfairness.o...thy-americans/
Note your scheme would be a tax increase for people earning 75,000 a year, especially if you eliminate that standard deduction that is usually applied to such income....
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10-07-2016, 03:53 PM
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AKA Sister Mary JJ
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Join Date: May 2009
Location: Upper East Tennessee
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"Get your facts first, and then you can distort them as much as you please." (Mark Twain)
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10-07-2016, 03:59 PM
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Senior Member
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Quote:
Originally Posted by JJIII
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Um.... no.
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10-07-2016, 07:11 PM
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Not again with the Unfair Tax. The only thing crazier than the income tax would be replacing it with a giant sales tax.
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If you Love Liberty, you must Hate Trump!
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10-07-2016, 10:54 PM
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Senior Member
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Join Date: Nov 2009
Location: colorado
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Quote:
Originally Posted by Boreas
Are you talking about a flat tax or a top marginal rate? A 20% income tax would be unsustainable for most middle class families and all poor families. A graduated income tax is essential in a country that has the disparity in incomes that we have here.
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I am talking about a flat tax. I was under the impression that 20% is about what most Americans pay in income tax. Maybe that is the average?
As to the poor, yes they would need a supplement. I have no problem helping the needy. By eliminating all loop holes and exceptions we would also greatly reduce the need for the IRS and all that entails.
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Instead of a debate, how about a discussion? I want to learn, I don't care about winning.
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