Max income tax rate

[skyq]

What do you think about the max income tax rate? What's the right number? 30%? 40%?

 

[Sonny Clark]

What do you think about the max income tax rate? What's the right number? 30%? 40%?

The number should be whatever is fair to everyone, where taxation is equal and fair. The percentage isn't near as important as equal and fair taxation. Also, everyone should demand accountability of tax dollars spent before deciding what's a fair rate. If we cut waste, fraud, and unnecessary spending, the tax rate would be low for everyone. In addition, we need to close tax loopholes, tax exemptions, and trace money moved off-shore. Figuring out the rate should come after we fix the tax laws and tax codes.

 

[boedicca]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

 

[HenryBHough]

Tax rate oughta be such that everybody has skin in the game. So that everybody pays income tax whether employed or not. All at the same rate. That way nobody gets a free ride; everybody feels it when their elected representatives try to grab more. Within two election cycles the whole outlook of government would change.

 

[FA_Q2]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

^this. Never going to happen though because congress would lose much of the power to fatten their own wallets if that happened.

 

[Redfish]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

agree, but 15% is probably too low, maybe 17% or 18%, and it should apply to all income, from $1 to the maximum income of any american, no exemptions, no deductions, ALL income.

 

[JakeStarkey]

No deductions or exemptions for anybody.

15% after $50,000; 30% after $200,000; 40% after $1000,000.

SS and Medicare and Medicaid on the first $5,000,000.

In return, a balanced budget amendment.

 

[boedicca]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

agree, but 15% is probably too low, maybe 17% or 18%, and it should apply to all income, from $1 to the maximum income of any american, no exemptions, no deductions, ALL income.

15% is not too low. If anything, it might be too high. Once the federal apparatus used to redistribute income is removed, the cost of government will drop. Add to that the economic growth that will arise from tax simplification...and overall tax receipts should increase, although they will be a lower ratio of the economy.

 

[Redfish]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

agree, but 15% is probably too low, maybe 17% or 18%, and it should apply to all income, from $1 to the maximum income of any american, no exemptions, no deductions, ALL income.

15% is not too low. If anything, it might be too high. Once the federal apparatus used to redistribute income is removed, the cost of government will drop. Add to that the economic growth that will arise from tax simplification...and overall tax receipts should increase, although they will be a lower ratio of the economy.

I hope you are right, but history says otherwise.

 

[boedicca]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

agree, but 15% is probably too low, maybe 17% or 18%, and it should apply to all income, from $1 to the maximum income of any american, no exemptions, no deductions, ALL income.

15% is not too low. If anything, it might be too high. Once the federal apparatus used to redistribute income is removed, the cost of government will drop. Add to that the economic growth that will arise from tax simplification...and overall tax receipts should increase, although they will be a lower ratio of the economy.

I hope you are right, but history says otherwise.

History shows the government debasing currency, taking on excessive debt, and funneling money to its cronies. Unless we remove the opportunities for graft, then the problem will continue.

 

[PaintMyHouse]

What do you think about the max income tax rate? What's the right number? 30%? 40%?

50% will do, on anything over 500K.

 

[Redfish]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

agree, but 15% is probably too low, maybe 17% or 18%, and it should apply to all income, from $1 to the maximum income of any american, no exemptions, no deductions, ALL income.

15% is not too low. If anything, it might be too high. Once the federal apparatus used to redistribute income is removed, the cost of government will drop. Add to that the economic growth that will arise from tax simplification...and overall tax receipts should increase, although they will be a lower ratio of the economy.

I hope you are right, but history says otherwise.

History shows the government debasing currency, taking on excessive debt, and funneling money to its cronies. Unless we remove the opportunities for graft, then the problem will continue.

Yep. but I don't think a flat tax fixes that. It would help but corrupt people always find ways to cheat. Look at the Clintons

 

[boedicca]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

agree, but 15% is probably too low, maybe 17% or 18%, and it should apply to all income, from $1 to the maximum income of any american, no exemptions, no deductions, ALL income.

15% is not too low. If anything, it might be too high. Once the federal apparatus used to redistribute income is removed, the cost of government will drop. Add to that the economic growth that will arise from tax simplification...and overall tax receipts should increase, although they will be a lower ratio of the economy.

I hope you are right, but history says otherwise.

History shows the government debasing currency, taking on excessive debt, and funneling money to its cronies. Unless we remove the opportunities for graft, then the problem will continue.

Yep. but I don't think a flat tax fixes that. It would help but corrupt people always find ways to cheat. Look at the Clintons

I'm not looking for perfection here. There will always be cheats and grifters; but let's take away as many rent-seeking opportunities as possible.

 

[HenryBHough]

Remember, somewhere in darkest Africa, a vehement anti-colonialist Communist-leaning father taught his son that there's nothing wrong with a 100% tax rate.

 

[Skylar]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

That probably wouldn't cover our tax needs.

 

[Skylar]

Remember, somewhere in darkest Africa, a vehement anti-colonialist Communist-leaning father taught his son that there's nothing wrong with a 100% tax rate.

You do realize that even by the most wild birther fantasies, Obama left Kenya when he was a few days old.

Shrugs......the birther fantasy just gets more and more emotional. And less and less plausible.

 

[Care4all]

Tax rate oughta be such that everybody has skin in the game. So that everybody pays income tax whether employed or not. All at the same rate. That way nobody gets a free ride; everybody feels it when their elected representatives try to grab more. Within two election cycles the whole outlook of government would change.

NO IT SHOULD NOT, and it has NEVER in the History of the USA been that way....

When Income tax began, the income tax Standard Deduction was the equivalent of $65,000....in today's dollars. MOST Americans DID NOT have to pay any income tax.... it was only those with the MEANS to pay income tax that had to pay income tax....otherwise, it was thought of as INHUMANE.

 

[Care4all]

15% flat tax for everyone - for income, dividends, and capital gains. Get rid of SS and medicare taxes. No deductions. No tax credits. No complicated tax code. No favors for Big Government Cronies. No politicized IRS.

Period.

That probably wouldn't cover our tax needs.

YES, AGREE, 15% is not even CLOSE to covering our needs if Social Security tax and Medicare tax are eliminated....as Bo suggested....and incorporated in with this flat tax.

RIGHT NOW the government collects MORE than 15% from us and from our employer in our name, in Medicare taxes and Social Security taxes....which have NOTHING to do with the discretionary budget which is suppose to come from an income tax or an outside tax of Social Security and Medicare.

 

[HappyJoy]

What do you think about the max income tax rate? What's the right number? 30%? 40%?

50% will do, on anything over 500K.

But what about the children? Paris is going to be pissed.

 

[HenryBHough]

Shrugs......the birther fantasy just gets more and more emotional. And less and less plausible.

Pity you weren't able to read His book - "Dreams FROM My Father". Maybe you could find an adult who wouldn't mind sounding out the words for you!