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Flat tax
Posted on 3/2/24 at 11:52 am
Posted on 3/2/24 at 11:52 am
Yea or nay? Put me down for a huge yea!
Posted on 3/2/24 at 12:22 pm to Lake08
The GOPe's new 87,000 irs agents won't like a flat tax.
Posted on 3/2/24 at 12:24 pm to Lake08
I would rather a tax on new product sales
Posted on 3/2/24 at 12:44 pm to Lake08
(no message)
This post was edited on 3/2/24 at 12:46 pm
Posted on 3/2/24 at 1:01 pm to Lake08
A flat tax sounds good in principle, unfortunately it means that the liberals will eventually raise the $$$ amounts on all government handouts so that the 'poor and minorities' are not burdened by paying a larger percentage of their income to taxes.
After raising the $$$ given in government freebie programs, the liberals will eventually enact something to create a 'minimum' level of income whereas the flat tax does not apply, making the lower 'earners' (Bawahahaha) money go farther than most middle class workers and taxpayers...
As usual, the hard working, responsible, taxPAYING middle class get screwed...yet again!
After raising the $$$ given in government freebie programs, the liberals will eventually enact something to create a 'minimum' level of income whereas the flat tax does not apply, making the lower 'earners' (Bawahahaha) money go farther than most middle class workers and taxpayers...
As usual, the hard working, responsible, taxPAYING middle class get screwed...yet again!
Posted on 3/2/24 at 1:12 pm to Oabafu
quote:
A flat tax sounds good in principle
Exactly, the only absolute of the government is that nothing is absolute. A flat tax would overburden the working middle class extraordinarily more than any others. Politicians would still create carve outs under the argument that the flat tax overburden high dollar purchases for the "rich" and stifle innovation and economy.
Posted on 3/2/24 at 1:17 pm to Oabafu
quote:
A flat tax sounds good in principle, unfortunately it means that the liberals will eventually raise the $$$ amounts on all government handouts so that the 'poor and minorities' are not burdened by paying a larger percentage of their income to taxes.
Well, a flat tax is regressive and will disproportionately affect the lower income earners.
You will need to do something to support them through either handouts or subsidies. Ideally, if you want a flat tax you have a minimum income per person that is exempt from tax to account for this.
quote:
As usual, the hard working, responsible, taxPAYING middle class get screed...yet again!
Who pays all the federal income taxes in the US?
The top 25% of income earners paid 88.5% of the taxes according to the latest data I can find for 2020.
quote:
In 2020, the bottom half of taxpayers earned 10.2 percent of total AGI and paid 2.3 percent of all federal individual income taxes. The top 1 percent earned 22.2 percent of total AGI and paid 42.3 percent of all federal income taxes.
LINK - Tax Foundatioin
Posted on 3/2/24 at 1:20 pm to Oabafu
A change like that would need to be done as an amendment with a set percentage.
Because politicians will just raise the amount each year...
Because politicians will just raise the amount each year...
Posted on 3/2/24 at 1:59 pm to bamacoullion
I would rather a sales tax also. Everyone pays a sales tax, drug dealers, cash workers, etc. For that say it is unfair to the poor, it could easily be designed using bar codes so that lobster is taxed more than hamburger, candy more than vegetables, Cadillacs more than Hyundais, Calvin Klein more than Carhartt.
Posted on 3/2/24 at 2:09 pm to Lake08
Makes too much sense. Plus it would eliminate the entire tax preparation industry and drastically reduce the size of the IRS. I assume to you are talking personal. Not sure flat tax would work for businesses.
Posted on 3/2/24 at 2:16 pm to Lake08
How 'bout abolishing the income tax?
Posted on 3/2/24 at 2:23 pm to blueridgeTiger
They print the damn money they want anyway. If you a have a fiat currency a tax is just a punishment
Posted on 3/2/24 at 3:08 pm to Lake08
Stop wasting/stealing our current tax money and everything would work out fine.
Posted on 3/2/24 at 3:08 pm to Lake08
As an income tax, it’s okay but all income taxes are immoral and unfair.
Consumption tax is the fairest of all methods of taxation
Consumption tax is the fairest of all methods of taxation
Posted on 3/2/24 at 3:10 pm to jclem11
quote:
Well, a flat tax is regressive and will disproportionately affect the lower income earners.
Exempt food, & baby items since that’s all one really needs. I guarantee it f people suddenly get to keep 20+% more of their pay they will likely end up blowing it in material items anyway so Uncle Sam probably comes out ahead. Plus all these new illegal residents would suddenly be pumping billions into the system from their cash wages
Posted on 3/2/24 at 5:16 pm to Lake08
I assume you're asking about a national sales tax and not a real flat tax which doesn't simplify anything.
Ideally, there would be a valued added sales tax, similar to what some European countries have. That way taxes are collected on unreported cash transactions.
In addition, there would remain an income tax with a $300,000 exemption so most people don't have to file. This would prevent the tax system from being regressive.
Ideally, there would be a valued added sales tax, similar to what some European countries have. That way taxes are collected on unreported cash transactions.
In addition, there would remain an income tax with a $300,000 exemption so most people don't have to file. This would prevent the tax system from being regressive.
This post was edited on 3/2/24 at 5:41 pm
Posted on 3/2/24 at 7:04 pm to Lake08
I'm in for a graduated tax that maxes out at 25% with minimal deductions and loop holes.
Anything more than 25% is theft. Governments and individuals will have to adjust.
Anything more than 25% is theft. Governments and individuals will have to adjust.
Posted on 3/2/24 at 7:07 pm to Lake08
No. National retail sales tax.
Posted on 3/2/24 at 7:12 pm to Lake08
A Fair tax system would include some subsiding and progressively fade out as earned income goes up.
The premise is no one earning $40k should pay the same for food staples as someone earning $230k. The fight would become what is a necessary food item? Milk? Bread? Boiled shrimp?
Taxes on other items like automobiles would tend to be income centric with lower wage earners buying cheaper vehicles and higher earners buying more high end vehicles and both taxes the same %.
The premise is no one earning $40k should pay the same for food staples as someone earning $230k. The fight would become what is a necessary food item? Milk? Bread? Boiled shrimp?
Taxes on other items like automobiles would tend to be income centric with lower wage earners buying cheaper vehicles and higher earners buying more high end vehicles and both taxes the same %.
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