Tax Reform

[dmcowen674]

Originally posted by: smack Down

Originally posted by: YoshiSato

Originally posted by: Ferocious
I once read a sales tax would have to be around 60% if spending was unchanged.

Pure lies.

Everyone who spends moeny at retail will be taxed. This includes forigeners, illegals, drug dealers and even fat cat corparate guys who don't pay any income tax now.

There will be more money with 20% sales tax then there is now.

Of course it doesn't included the fat cat corparate guys that take a vaction to say jamacia buy a 20 billion dollar private jet. Buys another billion in goods and then flys home with them.

We have a winnar!!! :thumbsup:

 

[zendari]

Originally posted by: dmcowen674

That number would have to be determined depending on how the reform gets worked out.

Whatever number it comes out to be, everybody has to pay the same percentage.

I agree with you dave. Has hell frozen over?

If me and dave can agree on something it has to be good for the country. Flat income tax over $30k I say.

 

[dmcowen674]

Originally posted by: zendari

Originally posted by: dmcowen674

That number would have to be determined depending on how the reform gets worked out.

Whatever number it comes out to be, everybody has to pay the same percentage.

I agree with you dave. Has hell frozen over?

If me and dave can agree on something it has to be good for the country. Flat income tax over $30k I say.

:shocked: Holy cow, didn't think it would be possible.

 

[Whoozyerdaddy]

Originally posted by: dmcowen674

Originally posted by: zendari

Originally posted by: dmcowen674

That number would have to be determined depending on how the reform gets worked out.

Whatever number it comes out to be, everybody has to pay the same percentage.

I agree with you dave. Has hell frozen over?

If me and dave can agree on something it has to be good for the country. Flat income tax over $30k I say.

:shocked: Holy cow, didn't think it would be possible.

Obviously I'm a big Fair Tax guy. Right now I'd take almost anything that's easier, less invasive and more fair than what we have now. I like the flat tax with ONE exception: Class warfare. If you draw the line at $30k you'll have approx 1/2 the population paying no federal tax. So half the country pays taxes and half doesn't. About 3/4 will pay very little tax.

This is pretty much the way it works right now. But when you make it obvious you create resentment. I know that for myself, I'd start to wonder why someone who pays nothing into the system gets to vote on how it's spent or on who gets to decide how do spend it. Everyone should pay at least a minimal amount of tax. Even if it's only 5% for the first $30k.

 

[Engineer]

Originally posted by: Whoozyerdaddy


Obviously I'm a big Fair Tax guy. Right now I'd take almost anything that's easier, less invasive and more fair than what we have now. I like the flat tax with ONE exception: Class warfare. If you draw the line at $30k you'll have approx 1/2 the population paying no federal tax. So half the country pays taxes and half doesn't. About 3/4 will pay very little tax.

It wouldn't be as bad as those currently getting back more (sometimes much more) than what they have paid in. EIC can be the devil at times.

I still think you'll find few that would take a tax hike just to make it "fair".

 

[Digobick]

Originally posted by: HombrePequeno
They were saying how this would reduce the paperwork for taxes by 75% but it seems kind of complex to me. Maybe that's because it's a change from what we have now (especially the "consumption" tax).

According to this CNN link, "the panel proposes creating a 1040 Simple form that could fit on both sides of a 4 X 6-inch index card. The number of lines would be reduced from 75 on the current form to 32 on the proposed form. It would also reduce the number of schedules, forms and worksheets from 52 to 10."

 

[zendari]

Originally posted by: Engineer

It wouldn't be as bad as those currently getting back more (sometimes much more) than what they have paid in. EIC can be the devil at times.

I still think you'll find few that would take a tax hike just to make it "fair".

Of course. Let's "tax" that evil corporation so they can raise the prices of their products that I buy.

Democrats don't want the middle class to pay their fair share and that's fine. They don't want john Kerry to pay his fair share and that's fine. Who do they want to tax anyway?

 

[Legend]

So what happens to my IRA if they replace the IRA account type?