How would you fix the broken tax system?

[DCal430]

The tax system in the US is broken. How would you fix it? This is my idea.


1. 25% Business Net Receipt Tax on all goods and services (including food)
2. 25% Business paid Tax on all individual employee pay and compensation between 1 million and 10 million. (includes base salary, stock options, gifts, etcetera)
3. 50% Business paid Tax on all individual employee pay and compensation over 10 million in a given year. (includes base salary, stock options, gifts, etcetera)
4. 10% payroll/self employment tax on earned income between 30,000 to 59,999 a year
5. 20% payroll/self employment tax on earned income between 60,000 to 99,999 a year
6. 35% payroll/self employment tax on earned income between 100,000 to 500,000 a year
7. 50% payroll/self employment tax on earned income over 500,000
8. 25% tax on all other income between 0 and 1 million. (Stock earning, dividends, capital gains, etcetera)
9. 50% tax on all other income over 1 million (Stock earning, dividends, capital gains, etcetera)
10. $250 a month rebate for each person, including children.
11. All tax revenue above will be divided 25% to the state and 75% to the federal government

All tax revenue below will be for federdal government only.
1. 25% estate tax for 1st 500k
2. 50% estate tax for 2nd 500k
3. 75% estate tax for over 1M.

All tax revenue below will be for states only

1. 1.5% property tax, with a 5% max increase in assessed value a year for a single primary place of residence.


THERE SHALL BE 0 DEDUCTIONS ON PAYROLL TAXES.

 

[wuliheron]

I know, we'll use a random number generator!
For small business transactions like paying for a meal at a restaurant we can just roll dice.

Of course, that won't include Swiss bank accounts, corporate loopholes, and people like Rupert Murdoch who is income tax exempt by presidential decree! It just wouldn't do if people thought you couldn't buy your way out of paying taxes.

 

[OCGuy]

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[JS80]

How about the bottom 50&#37; start paying some fucking taxes

 

[wuliheron]

How about the bottom 50% start paying some fucking taxes

What? You know somewhere I can get stuff without paying taxes?

 

[Eli]

LOL

I don't know really anything about our current tax system, how it works, how it came to be, etc.. But would you at least provide some data to back up your numbers? The way you've posted this, it seems like you just pulled random things out of your ass. How do you know that your numbers would work?

 

[OCGuy]

What? You know somewhere I can get stuff without paying taxes?

I'm assuming you no nothing of US income tax?

 

[guyver01]

Well, for starters... i wouldn't let 14 year old armchair economists begin by making up a tax code..

 

[Phokus]

Well, for one, the super rich should not be paying proportionally less taxes than i do:

http://blogs.wsj.com/economics/2010/02/17/a-look-at-the-tax-returns-of-the-top-400-taxpayers/

It blows me away that shit-for-brains republicans (and we're talking middle class and lower) actually defend this...

Close the carried interest loophole and raise capital gains taxes to fix this bullshit:

The top 400 U.S. individual taxpayers got 1.59&#37; of the nation&#8217;s household income in 2007, according to their tax returns, three times the slice they got in the 1990s, according to the Internal Revenue Service. They paid 2.05% of all individual income taxes in that year.

In its annual update of the taxes paid by the 400 best-off taxpayers, who aren&#8217;t identified, the IRS also said that only 220 of the top 400 were in the top marginal tax bracket. The 400 best-off taxpayers paid an average tax rate of 16.6%, lower than in any year since the IRS began making the reports in 1992.

To make the top 400, a taxpayer had to have income of more than $138.8 million. As a group, the top 400 reported $137.9 billion in income, and paid $22.9 billion in federal income taxes.

About 81.3% of the income of the top 400 households came in the form of capital gains, dividends or interest, the IRS data show. Only 6.5% came in the form of salaries and wages.

Over the past 16 tax years 3,472 different taxpayers showed up in the top 400 at least once. Of these taxpayers, a little
more than 27% appear more than once. In any given year, about 40% percent of the top-400 returns were filed by taxpayers who weren&#8217;t in that exclusive club in any of the 15 years .

In all, the IRS received nearly 143 million individual tax returns for 2007, the year that ended with the onset of the worst recession in decades.

 

[Numenorean]

Change from an income tax to a consumption tax.

It's a bit more involved than that, but that is the general idea.

 

[Bignate603]

Yeah... your over simplification is laughable.

 

[child of wonder]

Well, for one, the super rich should not be paying proportionally less taxes than i do:

http://blogs.wsj.com/economics/2010/02/17/a-look-at-the-tax-returns-of-the-top-400-taxpayers/

It blows me away that shit-for-brains republicans (and we're talking middle class and lower) actually defend this...

 

[Phokus]

Ronald Reagan: The ultimate prankster

 

[Ronstang]

It is not that the government does not take in enough tax money, but rather it spends way too much money keeping people alive that would die in the real world....all to buy their vote. It is a cyclical fucked up mess. The government needs to get back to doing what a government is supposed to do which does not include spoon feeding losers. The government should be creating an environment where people can flourish rather than cutting them checks. Let people survive based on their ability and willingness to do so and the problems will all work themselves out over time. Don't worry, this will never happen because under such a system most liberals would die off without the government providing them either a job or a welfare check.

 

[OCGuy]

Well, for one, the super rich should not be paying proportionally less taxes than i do:

http://blogs.wsj.com/economics/2010/02/17/a-look-at-the-tax-returns-of-the-top-400-taxpayers/

It blows me away that shit-for-brains republicans (and we're talking middle class and lower) actually defend this...

Close the carried interest loophole and raise capital gains taxes to fix this bullshit:

Sorry that doesnt piss me off as much as the bottom people paying little to no federal income tax and sucking off the teet of the government.

At least those rich people are contributing to society.

 

[Phokus]

It is not that the government does not take in enough tax money, but rather it spends way too much money keeping people alive that would die in the real world....all to buy their vote. It is a cyclical fucked up mess. The government needs to get back to doing what a government is supposed to do which does not include spoon feeding losers. The government should be creating an environment where people can flourish rather than cutting them checks. Let people survive based on their ability and willingness to do so and the problems will all work themselves out over time. Don't worry, this will never happen because under such a system most liberals would die off without the government providing them either a job or a welfare check.

You red state fuckers take in more government money than you pay into while us blue staters subsidize you, if anything, blue states should just secede from the union. It'd be hilarious watching military contractors and military bases just close up shop and all you idiots going unemployed. If anything the red states should just be a 3rd world vacation destination for the rest of us.

 

[OCGuy]

You red state fuckers take in more government money than you pay into while us blue staters subsidize you, if anything, blue states should just secede from the union. It'd be hilarious watching military contractors and military bases just close up shop and all you idiots going unemployed. If anything the red states should just be a 3rd world vacation destination for the rest of us.

The fact that you condemn rich people who put more tax in the system than they take out, and defend the idiots who take out more than they put in....and then you do the opposite when "person" is changed to "state." .....


LOL.

 

[Phokus]

Sorry that doesnt piss me off as much as the bottom people paying little to no federal income tax and sucking off the teet of the government.

At least those rich people are contributing to society.

LOL, yeah, they're moving the jobs out of the country. And this is exactly why this country is royally fucked in the ass.

You can't have it both ways. You can't destroy the middle class and expect people to not go on welfare. You think cutting taxes for the rich and moving jobs out of this country will somehow make people LESS dependent on government? This is the very definition of insanity, Mr. "Repeal"

 

[Phokus]

The fact that you condemn rich people who put more tax in the system than they take out, and defend the idiots who take out more than they put in....and then you do the opposite when "person" is changed to "state." .....


LOL.

Yes, because i find the hypocrisy absolutely disgusting. I won't mind my tax dollars going into an ecosystem where it's going into the right things and where people are appreciative of the safety net that's in place. Tea Partiers who bitch about government largess but have the 'gubmint better not touch my medicare!' mindset need to be beaten into a pulp.

 

[Mr. Pedantic]

See, the problem with making up random percentages to charge people at, is that the country has a budget. And taxes need to make up enough money to fill this budget. So it's all well and good to say you'll have X&#37; tax for this bracket and Y% for this one, but how do you know that you'll actually have enough money to keep paying for the military? Or NASA? Or Medicare, or Social Security, or the CIA?

 

[OCGuy]

Yes, because i find the hypocrisy absolutely disgusting. I won't mind my tax dollars going into an ecosystem where it's going into the right things and where people are appreciative of the safety net that's in place. Tea Partiers who bitch about government largess but have the 'gubmint better not touch my medicare!' mindset need to be beaten into a pulp.

Must be amazing to live in a world full of rainbows and unicorns.

If I didnt know you were older, I would think you are a wide-eyed college kid, or a contestant in a pageant ready to buy everyone in the world a puppy.

 

[Phokus]

Must be amazing to live in a world full of rainbows and unicorns.

If I didnt know you were older, I would think you are a wide-eyed college kid, or a contestant in a pageant ready to buy everyone in the world a puppy.

Yes, well, amazingly, there are countries in this world that aren't full of fucking retarded red state idiots who actually make it work. I'm in a fairly high tax bracket and i'm a home owner and i actually know, unlike you, how capital and government works, Mr. "Repeal".

 

[TridenT]

Let's face it: People in this thread are stupid. (Excluding me, obviously)

I'd like it if we just had some kind of magic TOTAL INCOME margin in the taxes and it'd have everything that person received in income(stocks, regular job, monopoly money, etc)... then you tax it according to whatever tax brackets you want.

'cause that would work from what I understandz.

 

[guyver01]

Let's face it: People in this thread are stupid.

:hmm:

cause that would work from what I understandz.

based on your "understanding" of simple math... your understanding of complex economic principals doesn't seem likely.

 

[OCGuy]

Yes, well, amazingly, there are countries in this world that aren't full of fucking retarded red state idiots who actually make it work. I'm in a fairly high tax bracket and i'm a home owner and i actually know, unlike you, how capital and government works, Mr. "Repeal".

Admit it. By "red-stater", you mean "white people."