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Flat Tax Question
Posted on 4/15/09 at 12:51 pm
Posted on 4/15/09 at 12:51 pm
Lets just suppose that this Flat Tax thing were ever to happen, would you like this or dislike it. Also wondering what % would the Guv start out assessing? Seems like it wouldn't be to hard to figure after returns how much Taxes were actually collected against total reported income.
Posted on 4/15/09 at 1:09 pm to shawtiger
Isn't is supposed to be at 17% or so.
I think of it this way, I tip a waitress 20% for serving me dinner. I see it as money well spent.
I think of it this way, I tip a waitress 20% for serving me dinner. I see it as money well spent.
Posted on 4/15/09 at 1:20 pm to LSUwag
quote:
I think of it this way, I tip a waitress 20% for serving me dinner. I see it as money well spent.
I'm far more satisfied with the average restaurant service than I am with the gov't.
Posted on 4/15/09 at 1:35 pm to LSUwag
I've always heard it would be around 22-23%.
I am all for it as long as Congress also removes all other taxation (income, property, inheritance/death, etc).
I am all for it as long as Congress also removes all other taxation (income, property, inheritance/death, etc).
Posted on 4/15/09 at 2:24 pm to Bard
Proprerty taxes are state and local so they will stay for sure.
Posted on 4/15/09 at 2:59 pm to shawtiger
I'm for it. Read the book. It's in paperback and it's cheap. By Boortz.
Posted on 4/15/09 at 3:09 pm to Zach
all the tax lobbyist will make sure it doesn't happen. Job losses would occur from this as well.
That being said, I suppose people will support or oppose based it on if it's an increase or decrease in their tax.
That being said, I suppose people will support or oppose based it on if it's an increase or decrease in their tax.
Posted on 4/15/09 at 3:23 pm to SanFranTiger
quote:
That being said, I suppose people will support or oppose based it on if it's an increase or decrease in their tax.
Right. a lot of Internet people seem to assume that flat tax means their own rate will go down. A lot of them will be quite surprised to discover that their bill actually goes up.
Posted on 4/15/09 at 3:45 pm to Cold Cous Cous
The flat tax will never, ever happen. Period. End of story. I wrote a long paper and gave a presentation on this back in grad school many years ago. The US tax code serves many interests. Everything from social programs, to subsidies, to small businesses, to home ownership, to charities, and on, and on, and on. The tax code has evolved over the years to become the complex behometh it is due to desired social or economic reasons and to prevent abuse. Not to mention the progressive nature of the code. Most would see an increase in their tax bill with a flat tax. The lower class and poor would be absolutely in total shock. Right now, only about 10% of Americans pay an effective rate over 15%. Around 45% pay no tax at all. ZERO. With a true flat tax, the effects on the middle class and poor would be significant. The wealthy would be happy as they would no longer be providing subsidy though.
The flat tax will never happen. The current code is WAY too much of the fabric of the United States, socially and economically. End of story.
The flat tax will never happen. The current code is WAY too much of the fabric of the United States, socially and economically. End of story.
This post was edited on 4/15/09 at 3:48 pm
Posted on 4/15/09 at 4:45 pm to Tiger n Miami AU83
quote:You mean no income tax at all.
Around 45% pay no tax at all. ZERO.
Posted on 4/15/09 at 4:50 pm to shawtiger
GOD ONLY ASKS FOR 10%. IF THAT'S GOOD ENOUGH FOR
HIM, WHY SHOULD THE GOVT. GET MORE.
MAKE THEM LIVE WITHIN OUR MEANS.
HIM, WHY SHOULD THE GOVT. GET MORE.
MAKE THEM LIVE WITHIN OUR MEANS.
Posted on 4/15/09 at 8:28 pm to Tiger n Miami AU83
quote:
The tax code has evolved over the years to become the complex behometh it is due to desired social or economic reasons and to prevent abuse.
it has become the behemoth due to politicians wielding control, buying votes and doling out favors. Politicians don't give a rat's arse about social reasons or preventing abuse.
Posted on 4/15/09 at 8:30 pm to SanFranTiger
quote:
Job losses would occur from this as well.
how do you figure this...from the studies from Fair Tax groups, corporate investment would boom in the US.
Posted on 4/15/09 at 9:01 pm to ForeLSU
Accountants and IRS dudes would lose jobs. But that's what I call the "blacksmith" argument - this concept that inventing the car was bad because people stopped buying horseshoes.
Posted on 4/15/09 at 9:24 pm to Cold Cous Cous
Like I said though, irrelevant because it will never happen.
Posted on 4/15/09 at 9:32 pm to Tiger n Miami AU83
I doubt it, but stranger things have happened. BLACK SWAN!
Posted on 4/16/09 at 8:38 pm to shawtiger
I started to say it depends on what the tax rate is, but income taxes aren't that hard to do now and the government will figure out some other way to get the money it wants. In the meantime such a wholesale change would cause enormous disruption, not sure it is worth the trouble.
Besides, it would put all the LSU CPA's out of work, wouldn't it?
Besides, it would put all the LSU CPA's out of work, wouldn't it?
Posted on 4/17/09 at 1:08 am to shawtiger
I would love it... No exemptions or forms to complete if you are an employee. 17% and your done. Self employed would have to pay quarterly. If we did it I have heard there would be no need for any capital gains taxation. The lower and middle class would hate this because they pay little if any taxes now.
Posted on 4/17/09 at 2:15 am to SanFranTiger
quote:i dont see this being accurate, please elaborate
Job losses would occur from this as well
Posted on 4/17/09 at 2:40 am to sportsinfogeauxlsu
quote:
i dont see this being accurate, please elaborate
Possibly IRS jobs
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