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Started By
Message
If the US enacted a true flat rate tax, what would be the ideal tax rate?
Posted on 1/25/14 at 3:30 am
Posted on 1/25/14 at 3:30 am
For Individuals and Corporations? The idea is to have a healthy balance between tax revenue and economic growth.
20
Posted on 1/25/14 at 3:49 am to stendulkar
20%
Posted on 1/25/14 at 3:56 am to stendulkar
0%
FairTax instead.
FairTax instead.
Posted on 1/25/14 at 4:15 am to weagle99
i dont think income tax is the answer...it encentivises not making an income as well as tax fraud...just raise the sales tax and abolish the income tax..but to answer ur question 25%
Posted on 1/25/14 at 4:44 am to lsunatchamp
Why would the ideal tax rate be dramatically higher than the current average tax rate?
*Ill take "Numbers pulled out of an arse" for a 1000, Alex*
*Ill take "Numbers pulled out of an arse" for a 1000, Alex*
Posted on 1/25/14 at 5:46 am to Volvagia
Considering half of the people pay nothing or negative tax rates, you're an idiot.
Posted on 1/25/14 at 6:07 am to Volvagia
quote:
*Ill take "Numbers pulled out of an arse" for a 1000, Alex*
Oh I love this game :
*I'll take "Ape tit" for 800, Alex*.
Posted on 1/25/14 at 6:54 am to Volvagia
quote:
*Ill take "Numbers pulled out of an arse" for a 1000, Alex*
Yeah - not really - marginal rates do not significantly impact revenues - you're going to get something between 18 1/2% and 22% of GDP. So ~20% would be the starting point, not arbitrarily, for either a flat income tax, or some form of the fair/Federal consumption tax.
This post was edited on 1/25/14 at 6:55 am
Posted on 1/25/14 at 7:06 am to Ace Midnight
quote:
you're going to get something between 18 1/2% and 22% of GDP. So ~20% would be the starting point
This.
Just use the historical average that you wind up with no matter what the rates are.
Posted on 1/25/14 at 8:20 am to stendulkar
Steve Forbes says 16%. But the key is NO deductions. Once you construct the law and allow a single deduction to stay in place then you open up the floodgates and it won't work.
Posted on 1/25/14 at 8:23 am to Zach
quote:
Steve Forbes says 16%. But the key is NO deductions.
Seems reasonable...
Posted on 1/25/14 at 8:24 am to Zach
quote:
Once you construct the law and allow a single deduction to stay in place then you open up the floodgates and it won't work.
Politicians are not that disciplined.
Posted on 1/25/14 at 8:26 am to Zach
quote:
Once you construct the law and allow a single deduction to stay in place then you open up the floodgates and it won't work.
Agreed
I'd even be ok with the current progressive tax structure and no deductions. Just lower the rates some.
Posted on 1/25/14 at 8:33 am to stendulkar
18.5%.
On all personal income of $15k per individual, with an $2.5k per kid (so, for family with 2 spouses and 2 kids, no tax on first $35k of income). This would also include payroll taxes.
For corporations:
Tax on all income above the compensation (salary and benefits) paid to employees. So, if corp has $1 million in income, and $250k of compensation, the the tax is on the remaining $750k.
No deductions, period.
On all personal income of $15k per individual, with an $2.5k per kid (so, for family with 2 spouses and 2 kids, no tax on first $35k of income). This would also include payroll taxes.
For corporations:
Tax on all income above the compensation (salary and benefits) paid to employees. So, if corp has $1 million in income, and $250k of compensation, the the tax is on the remaining $750k.
No deductions, period.
Posted on 1/25/14 at 8:39 am to udtiger
quote:
Tax on all income above the compensation (salary and benefits) paid to employees. So, if corp has $1 million in income, and $250k of compensation, the the tax is on the remaining $750k.
Compensation is already taken out to determine net income, what are you suggesting? That expenses other than wages and salaries should be added back to net income to determine taxable income?
Posted on 1/25/14 at 8:41 am to stendulkar
18% is the number I have seen most frequently thrown around by those who favor such things.
Posted on 1/25/14 at 10:01 am to stendulkar
(no message)
This post was edited on 4/9/14 at 10:14 pm
Posted on 1/25/14 at 10:04 am to stendulkar
15% with absolutely no deductions.
Posted on 1/25/14 at 10:06 am to stendulkar
Depending on the length of time associated with "working years" (40-45 yrs.), I've calculated 17-18.5% flat tax. 20% would work, but to achieve true maximum wealth creation as well as the highest tax revenue stream, I'll go with 17.75%.
Posted on 1/25/14 at 10:14 am to stendulkar
15% with the first $30,000 tax free with zero deductions and all income taxed the same.
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