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re: If the US enacted a true flat rate tax, what would be the ideal tax rate?
Posted on 1/25/14 at 2:08 pm to Zach
Posted on 1/25/14 at 2:08 pm to Zach
quote:
Wrong. When I say NO deductions, I mean NO deductions.
Same with interest on mortgages; same on charitable contributions. NOTHING. That's how you can get it revenue neutral with everyone paying 16%.
And makes compliance a cinch which is good for business.
0
Posted on 1/25/14 at 2:11 pm to weagle99
quote:
0%
Posted on 1/25/14 at 2:59 pm to Bard
(no message)
This post was edited on 4/9/14 at 10:13 pm
Posted on 1/25/14 at 3:19 pm to Zach
quote:
quote: When you say no deductions you are not talking about business expenses. Right? Wrong. When I say NO deductions, I mean NO deductions. Same with interest on mortgages; same on charitable contributions. NOTHING. That's how you can get it revenue neutral with everyone paying 16%.
So, say I have a farm and I buy $250,000.00 worth of seed,chemical, and fertilize. I sell the crop for $300,000. So I pay taxes on $300,000.00 when I really only cleared $50,000 after expenses.
That is a hell of a plan you have there.
Good luck making that work in the real world.Posted on 1/25/14 at 6:30 pm to Zach
quote:
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.
Disallowing deductions for mortgage interest (the average taxpayers largest deduction) would become a deterrent to home purchases as the marginal cost of same would drastically increase. Also you can kiss goodby a majority of charitable contributions, because there would be less money for same.
Posted on 1/25/14 at 7:16 pm to stendulkar
Are there any real world examples of a flat rate/fair/national sales tax model? Are there any countries that have tried this?
Posted on 1/25/14 at 7:48 pm to stendulkar
Raise taxs on alcohol, tobacco, certain cars and trucks, on top of the 15% flat tax.
Institute a flat 15% sales tax on all goods sold and abolish income tax.
Institute a flat 15% sales tax on all goods sold and abolish income tax.
Posted on 1/25/14 at 9:04 pm to bulldog95
quote:
Institute a flat 15% sales tax on all goods sold and abolish income tax.
You pay 9% to the state. Why the hell does the federal government need so much fu king money? They need to learn how to spend less or get them thrown out.
I agree with what y'all are proposing I pay a ton in income taxes, this shite is just ridiculous. WHY do they need so much fricking money? Spare the answers, I know them.
Posted on 1/25/14 at 9:33 pm to Bard
quote:
That's why a national sales tax passed as being the only tax allowable and the % rate would need to be passed as a Constitutional Amendment. Any other way and whatever tax and whatever rates will be political footballs eventually.
Then you'd be looking at exemptions on the sales tax.
Would you tax the sale of stocks, bonds, real estate all the same? Would this tax be piled up on existing sales taxes?
Posted on 1/25/14 at 10:23 pm to Zach
quote:
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.
I could live with 16%, but I think something like 20% with a ONE AND ONLY ONE deduction so that your first 10,000 bucks is tax free. That way the left can't scream you are taxing the poor too much. I would also end all other deductions. If you are married you file as two ppl, no kid deductions, no I bought a new eco friendly light bulb that runs on farts deductions or anything.
Posted on 1/25/14 at 10:29 pm to TheHiddenFlask
quote:
Considering half of the people pay nothing or negative tax rates, you're an idiot.
Which means the flat tax rate should be lower than the current average, as Volvagia suggested. You're the idiot.
Posted on 1/25/14 at 10:36 pm to willthezombie
quote:
e 9/9/9 plan
Nope. Allowing the feds to collect ANOTHER tax is a bad idea. frick that.
15%or so, no exemptions, deductions, credits, or anything of the sort. Entire tax code is less than 1 page.
Posted on 1/25/14 at 10:48 pm to SoulGlo
quote:
Nope. Allowing the feds to collect ANOTHER tax is a bad idea. frick that.
it would have to be set by Constitiutional admendment that congress couldn't raise unless there was a formal declaration of war (like what we had during WW2 not an approval for military action) and income taxes would be at 9 or 10 percent
quote:
5%or so, no exemptions, deductions, credits, or anything of the sort. Entire tax code is less than 1 page.
i would fap to that
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