@protagonistic - the underlaying problem with a flat tax has always been that the cost of running a life or a business has never been flat. The poor (or the first year start ups) pay a much larger percentage of their income for the bare necessities of surviving. Someone who makes $200,000 a year does not spend 10x's as much on food as someone who makes $20k. That's why income taxes are progressive - the recognition that the first $20-30K are bare subsistence for a family of 4, and by the time you reach $300K or more, you are profiting mightily from the country that provides your safety, and can afford to kick in proportionately more while still enjoying those benefits.
I would prefer to see regressive taxes - sales taxes, real estate taxes - removed, and a simplified but still progressive income tax take over. Side benefit? If all governance was funded by the highly visible income tax, everyone would be MUCH more aware of how much tax they are actually paying.
Fairtax.org Nobody pays taxes until they purchase something at retail. No businesses pay taxes either. Nobody below the poverty line pays any taxes. The actual rates go down for most people with this plan. The only people who pay 3% more with the transition are people between 56 and 65 years old. They lose out on the transition period for a few years.
This plan lets people save more money faster due to income not being taxed. This plan entices foreign companies to bring manufacturing to the USA because they will pay no taxes on the income they earn. This will bring millions of manufacturing jobs to the USA.
No more tax forms. No more tax man threats. No more federal tax liens.
@protagonistic - the underlaying problem with a flat tax has always been that the cost of running a life or a business has never been flat. The poor (or the first year start ups) pay a much larger percentage of their income for the bare necessities of surviving. Someone who makes $200,000 a year does not spend 10x's as much on food as someone who makes $20k. That's why income taxes are progressive - the recognition that the first $20-30K are bare subsistence for a family of 4, and by the time you reach $300K or more, you are profiting mightily from the country that provides your safety, and can afford to kick in proportionately more while still enjoying those benefits.
I would prefer to see regressive taxes - sales taxes, real estate taxes - removed, and a simplified but still progressive income tax take over. Side benefit? If all governance was funded by the highly visible income tax, everyone would be MUCH more aware of how much tax they are actually paying.
the problem with this is it punishes those who work hard to get ahead. Why am i forced to pay more taxes than someone who makes less money? Basically i should just slack off, just skate by so as i do not get to keep what i work for. the only 'fair' way to tax is the fair tax (http://www.fairtax.org), _minus_ the prebate. Everyone should pay the same tax rate, period. Anything else is simply _stealing_ from the "rich" to give to the "poor"
No, the troll called the company bad. Problem is, the troll was an idiot.
Originally Posted by jsmythe00
what he said
Why would you want to agree with someone who is completely and utterly wrong, stating anything as long as it's anti-Apple, regardless of if it's a pathetic lie or not?
Read further down. If the propensity to consume a good is regressive with regard to income, then a sales tax on that good is also, by implication, regressive with regard to income.
Read further down. If the propensity to consume a good is regressive with regard to income, then a sales tax on that good is also, by implication, regressive with regard to income.
I have. I understand the arguments claiming it is regressive.
Well let's agree to disagree then, it's hardly the main issue at hand. It's either flat or it's regressive depending on your understanding of the term; it's definitely not progressive.
Comments
This plan lets people save more money faster due to income not being taxed. This plan entices foreign companies to bring manufacturing to the USA because they will pay no taxes on the income they earn. This will bring millions of manufacturing jobs to the USA.
No more tax forms. No more tax man threats. No more federal tax liens.
Instead it almost looks like that can of worms have been self digested.
Machinistic I guess.
An overhaul of the US Tax code is sorely needed. Right now the flat tax is looking pretty good right now.
Quote:
Originally Posted by richardk32
@protagonistic - the underlaying problem with a flat tax has always been that the cost of running a life or a business has never been flat. The poor (or the first year start ups) pay a much larger percentage of their income for the bare necessities of surviving. Someone who makes $200,000 a year does not spend 10x's as much on food as someone who makes $20k. That's why income taxes are progressive - the recognition that the first $20-30K are bare subsistence for a family of 4, and by the time you reach $300K or more, you are profiting mightily from the country that provides your safety, and can afford to kick in proportionately more while still enjoying those benefits.
I would prefer to see regressive taxes - sales taxes, real estate taxes - removed, and a simplified but still progressive income tax take over. Side benefit? If all governance was funded by the highly visible income tax, everyone would be MUCH more aware of how much tax they are actually paying.
the problem with this is it punishes those who work hard to get ahead. Why am i forced to pay more taxes than someone who makes less money? Basically i should just slack off, just skate by so as i do not get to keep what i work for. the only 'fair' way to tax is the fair tax (http://www.fairtax.org), _minus_ the prebate. Everyone should pay the same tax rate, period. Anything else is simply _stealing_ from the "rich" to give to the "poor"
Originally Posted by eat@me
The pot called the kettle black ....
No, the troll called the company bad. Problem is, the troll was an idiot.
Originally Posted by jsmythe00
what he said
Why would you want to agree with someone who is completely and utterly wrong, stating anything as long as it's anti-Apple, regardless of if it's a pathetic lie or not?
Quote:
Originally Posted by richardk32
I would prefer to see regressive taxes - sales taxes, real estate taxes...
For the last time...sales taxes (and most property taxes) are not regressive. Please learn what these words mean before using them.
Quote:
Originally Posted by MJ1970
For the last time...sales taxes (and most property taxes) are not regressive. Please learn what these words mean before using them.
yeah they are. http://en.wikipedia.org/wiki/Regressive_tax
Quote:
Originally Posted by bullhead
yeah they are. http://en.wikipedia.org/wiki/Regressive_tax
Not they are not. It's right there in the first sentence:
Quote:
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases.
Read further down. If the propensity to consume a good is regressive with regard to income, then a sales tax on that good is also, by implication, regressive with regard to income.
Quote:
Originally Posted by Crowley
Read further down. If the propensity to consume a good is regressive with regard to income, then a sales tax on that good is also, by implication, regressive with regard to income.
I have. I understand the arguments claiming it is regressive.
Well let's agree to disagree then, it's hardly the main issue at hand. It's either flat or it's regressive depending on your understanding of the term; it's definitely not progressive.
Quote:
Originally Posted by Crowley
it's hardly the main issue at hand.
True.
Quote:
Originally Posted by Crowley
it's definitely not progressive.
Right.