"flat tax hurts lower income people more"
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re: "flat tax hurts lower income people more"
Posted by tigernchicago on 3/17 at 12:44 pm to mytigger
quote:


Equality will nevet happen




if we can just agree on this we can stop right here and be done with all of it.


I am all for equal opportunity.

I am ALL AGAINST equal results.

Equal results will devolve into poverty and no freedomn for all.



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Posted by Antonio Moss on 3/17 at 12:51 pm to WildTchoupitoulas
quote:

I'd cut the corporate rate to 0.


Nah. Most corporations are small businesses. This would allow the business owner to live off his business profit with no tax liability. Most owners don't pay themselves a salary.



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Posted by WildTchoupitoulas on 3/17 at 1:13 pm to Antonio Moss
quote:

This would allow the business owner to live off his business profit with no tax liability

Capital gains?



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Posted by NC_Tigah on 3/17 at 1:13 pm to Antonio Moss
quote:

Nah. Most corporations are small businesses. This would allow the business owner to live off his business profit with no tax liability.
How would that work exactly?



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Posted by WildTchoupitoulas on 3/17 at 1:19 pm to NC_Tigah
quote:

How would that work exactly?

Thinking of incorporating, NC?



I will be later this year.



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Posted by Antonio Moss on 3/17 at 4:44 pm to WildTchoupitoulas
quote:

Capital gains?


Not even Capital Gains. Corporations can buy anything that people can. You would just have to open a credit card in the businesses name and put all your possessions in the name of the company to avoid liability.



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Posted by real on 3/17 at 5:06 pm to Antonio Moss
I'm glad more and more states are looking to drop income tax and raise sell taxes. Lets all pay.!
shite I figure with Jindal doing this and destroying Medicade maybe many of those 47%'s will seek out states they can get more freebies and leave Louisiana.


This post was edited on 3/17 at 5:08 pm

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Posted by ironsides on 3/17 at 5:14 pm to real
States would rather the income tax than the sales tax because they a) don't want you to spend money in another state, b) don't want you to save - they want you to buy.


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Posted by Taxing Authority on 3/17 at 6:45 pm to Antonio Moss
quote:

You would just have to open a credit card in the businesses name and put all your possessions in the name of the company to avoid liability.
NO! That's a good way to wind up in the Federal Pen or at least a massive bill for back taxes.



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Posted by NC_Tigah on 3/17 at 7:11 pm to Taxing Authority
quote:

NO! That's a good way to wind up in the Federal Pen or at least a massive bill for back taxes.
Yeah.
I'm thinking a Cayman "Mailbox Corporation" might be a better idea



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Posted by Poodlebrain on 3/17 at 7:57 pm to Antonio Moss
quote:

Nah. Most corporations are small businesses. This would allow the business owner to live off his business profit with no tax liability. Most owners don't pay themselves a salary.
You couldn't be more wrong if you tried. Your ignorance of United States taxation of corporations and shareholders is near complete.



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Posted by S.E.C. Crazy on 3/17 at 9:24 pm to GregMaddux
By keeping the poor on the Gov. dole they can brainwash them on the social issues with : leverage"
Thats what its all about.



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Posted by TxTiger82 on 3/17 at 9:32 pm to GregMaddux
quote:

Does anyone actually believe this idiotic statement warrants any kind of fricking merit against the fairest tax system out there?


It isn't so idiotic if you think about the remaining proportion of income available as purchasing power. Of course, the point about 47% free riding the system is also a good one.



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Posted by ChineseBandit58 on 3/18 at 6:01 am to constant cough
I think there should be a head tax in addition to the flat tax. Maybe the head tax should be proportional to the national debt. Just something to remind everyone - ESPECIALLY those whose votes are being bought by entitlements - that THEY, as a nation, are responsible for paying that off.

Yes, that would have an impact on the poor more than it would the rich - good. The impact doesn't have to be too severe, but it should be enough to make the thought come to their minds.

EVERYONE should help fund the cost of government. That is the only way to combat the '47% who just don't give a shite about taxes' = gimmee my obamaphone.



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Posted by ironsides on 3/18 at 6:05 am to ChineseBandit58
Flat tax is fair. The person receiving benefits should also be paying back into the system.


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Posted by Antonio Moss on 3/18 at 6:22 am to Poodlebrain
quote:


You couldn't be more wrong if you tried. Your ignorance of United States taxation of corporations and shareholders is near complete.


We're talking about the hypothetical zero rate corporate tax, not how it currently stands today. and I'm not referring to shell corps, I'm referring to legitimate businesses where the owner would just funnel everything through the business - cars, meals, etc. it already fairly easy to justify these things as "business expenses" and without a serious threat of audit, it would only get worse



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Posted by ironsides on 3/18 at 6:31 am to Antonio Moss
What about taxing the corporation but not the dividend?


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Posted by Poodlebrain on 3/18 at 7:23 am to Antonio Moss
Do you know what an S corporation is? It is a corporation that pays no tax, but passes all of its income through to the shareholders. The shareholders pay individual income tax on their respective shares of S corporation income. Audits of S corporations are rather common as the IRS specifically looks for personal expenses of the shareholders being claimed as business expenses.


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Posted by CaptainBrannigan on 3/18 at 8:36 am to GregMaddux
quote:

"flat tax hurts lower income people more"


Truth

quote:

Does anyone actually believe this idiotic statement warrants any kind of fricking merit against the fairest tax system out there?


define "fair"



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Posted by NC_Tigah on 3/18 at 8:37 am to CaptainBrannigan
quote:

Truth
How so.



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