Wouldn't a 10% flat tax w/o corp tax bring in more revenue than the current system?

[Deudalus]

Hell if it was up to me we would have a flat sales tax with all necessities like utilities, food, and whatnot exempted.

Or have a flat income tax and no capital gains tax.

Cut military spending by 25% and legalize weed and tax the shit out of it to pay for it short term but economic growth long term would actually yield more money.

But then what do I know.

 

[senseamp]

If you believe right wing math, 0% tax would bring infinite revenue.

 

[Deudalus]

If you believe right wing math, 0% tax would bring infinite revenue.

Actually its the laffer curve.

If you believe liberals higher taxes always means higher revenue

 

[senseamp]

Actually its the laffer curve.

If you believe liberals higher taxes always means higher revenue

Named after this joker:
http://www.youtube.com/watch?v=IU6PamCQ6zw

 

[Deudalus]

Named after this joker:
http://www.youtube.com/watch?v=IU6PamCQ6zw

Doesn't matter who its named after, doesn't matter who came up with it.

What matters is, is it the truth or not?

Do you disagree that raising taxes past a certain point hurts growth to the point where less taxes are collected?

Simple yes or no will suffice.

 

[senseamp]

Doesn't matter who its named after, doesn't matter who came up with it.

What matters is, is it the truth or not?

Do you disagree that raising taxes past a certain point hurts growth to the point where less taxes are collected?

Simple yes or no will suffice.

Sure, that point being nowhere near 10, 20, 30 or even 40%.

 

[Rainsford]

Doesn't matter who its named after, doesn't matter who came up with it.

What matters is, is it the truth or not?

Do you disagree that raising taxes past a certain point hurts growth to the point where less taxes are collected?

Simple yes or no will suffice.

I think that's obviously true. What's not true is the frequently used conservative implication (and the premise of this thread) that we are anywhere NEAR that point. The point that such a theory exists doesn't mean it has any applicability to our current situation.

 

[Zebo]

Since Sachs made about 140 Billion and paid no taxes last year I'd say so.But in general I'm against all corporate taxes. Just like deductions, exclusions and exemptions are for those with skill. You fools think corporatetqaxes are high at 55% but none pays that.

 

[bamacre]

Doesn't matter who its named after, doesn't matter who came up with it.

What matters is, is it the truth or not?

The truth is there are many other factors involved.

 

[ShawnD1]

Sure, that point being nowhere near 10, 20, 30 or even 40%.

This graph and your argument are totally unrelated. You guys were talking about whether or not increasing taxes increasing revenue. This graph has nothing to do with revenue; the red line is the country's GDP. GDP and money taken in through taxation are two completely different things.

 

[spacejamz]

BUT...BUT...
This is the type of short-sighted bullshit that righties can't quite figure out. They are the same ones driving around SUVs, guzzling gas because they can, not because they shouldn't.

Guess Al Gore didn't get your memo...

 

[ShawnD1]

Guess Al Gore didn't get your memo...

Also, it's stupid to expect people to make personal sacrifices. We will only change when there is a practical reason to change. I'll buy an efficient furnace if the numbers say the efficient furnace is more cost effective. I'll buy the hybrid car if it's more cost effective. I'll buy low flow toilets when they invent one that doesn't plug every fucking time. I'll put fluorescent lighting where lights are needed all the time, and I'll put incandescent lighting in areas that are not lit all the time; this will change when the cost comes down.

 

[Anarchist420]

I really don't know how a 10% flat tax wouldn't take in more revenue than the current system we have. How many people who can afford to evade having 35% of their salary taken away would pay it? A 10% flat tax eliminates loopholes and no one would evade taxes with a 10% (or maybe 12%) flat rate tax. If you cut spending down to ~3/8 of FY2011, you'd have a surplus if all you had were the gasoline and cigarette taxes plus flat income tax and payroll tax. The income tax as it is is expected to bring in 1.061T revenue for this year. With a flat tax rate of 10% and no corporate tax, the govt would probably get $~900B from that. Plus ~50B from excise and ~925B would bring in ~1.875T

I think it's worth a try if we can't go back to non-protectionist tariffs and excise taxes only.

 

[soulcougher73]

hell, if he wanted that he'd agree with you.

rofl