Money In Politics

[g5000]

I remember when liberals used to get the small donations from the working man and Republicans controlled the dirty corporate money. Now it's the opposite. Trump will hold corporations to account for outsourcing and enabling illegal aliens while Democrats are throwing the working man under the bus in favor of cheap, foreign labor and outsourcing. That's why the greedy bastards running multinational corporations favor Democrats. The big money people always favor the people who are on the take like Biden to people who back the American people like Trump. That's what makes Trump the ultimate American President. Sorry Hanoi Jane.

More likely that tariffs will become another favor people want to buy from politicians.

Oh hell yeah. During any negotiations for a trade treaty, special interests are all over that shit like flies. Trade agreements are probably the most complicated treaties of all, because so many conflicting interests are involved. For example, you have steel makers who want high import tariffs in direct conflict with automakers who want low import tariffs.

So the money pours into the campaign chests in Detroit and Pittsburgh.

 

[g5000]

The benefit of eliminating all tax expenditures would be your tax return really would be a postcard.

Think about all the special interests who do not want that to happen, starting with TurboTax and H&R Block. And the real estate and construction industries. The list is very long.

I’m always amazed by dems getting mad when corporations or trump pay little or no taxes, but won’t get behind something like a flat tax. With a flat tax they would pay way more than nothing. I’m not sure a flat tax is the best option, but it sure it beats a system ruled by lobbies and loaded with deductions.

The flat tax is a shiny object. A misdirection. The flat tax does not contain any magical qualities which will prevent politicians from putting in the exact same exemptions, deductions, and credits.

You have to attack the source. Tax expenditures must be banned.

Not even the Fair Tax has any magical qualities which prevent exemptions. All it would take is one politician saying we need to exempt milk, and then that will be the wedge to piledrive a trillion dollars of additional exemptions. Pardon my mixed metaphors.

In theory, a flat tax gets rid of all expenditures. Adding exemptions wouldnt make it a flat tax anymore, correct?

A flat tax is simply a single tax bracket. It has nothing to do with exemptions. So you can tax everyone's income at 15 percent, but exempt any income from a coal mine, for example.

Like I said. No magical quality which prevents corruption.

 

[g5000]

Same deal with the Fair Tax, which is a souped up federal sales tax.

Everyone is taxed at the same rate....unless they buy baby formula or a yacht. There is nothing to stop this.

 

[g5000]

As soon as you exempt, deduct, or credit, you have to raise the tax rate(s) or borrow the difference. This is true for our current income tax, a flat tax, or the Fair Tax.

 

[TNHarley]

The benefit of eliminating all tax expenditures would be your tax return really would be a postcard.

Think about all the special interests who do not want that to happen, starting with TurboTax and H&R Block. And the real estate and construction industries. The list is very long.

I’m always amazed by dems getting mad when corporations or trump pay little or no taxes, but won’t get behind something like a flat tax. With a flat tax they would pay way more than nothing. I’m not sure a flat tax is the best option, but it sure it beats a system ruled by lobbies and loaded with deductions.

The flat tax is a shiny object. A misdirection. The flat tax does not contain any magical qualities which will prevent politicians from putting in the exact same exemptions, deductions, and credits.

You have to attack the source. Tax expenditures must be banned.

Not even the Fair Tax has any magical qualities which prevent exemptions. All it would take is one politician saying we need to exempt milk, and then that will be the wedge to piledrive a trillion dollars of additional exemptions. Pardon my mixed metaphors.

In theory, a flat tax gets rid of all expenditures. Adding exemptions wouldnt make it a flat tax anymore, correct?

A flat tax is simply a single tax rate. It has nothing to do with exemptions. So you can tax everyone's income at 15 percent, but exempt any income from a coal mine, for example.

Like I said. No magical quality which prevents corruption.

Flat Tax: What It Is and How It Works

A flat tax system applies the same tax rate to all taxpayers regardless of their income bracket.

www.investopedia.com

Typically, a flat tax applies the same tax rate to all taxpayers, with no deductions or exemptions allowed
That is what I have always believed.

 

[TNHarley]

G, what is your opinion on getting rid of the income tax completely and replacing it with a National Sales Tax?

 

[Flash]

The Clintons and Bidens have found a way to make big bucks selling government influence.

The Clintons laundered their money through that scam foundation and the Bidens through Hunter and other family members.

 

[g5000]

The benefit of eliminating all tax expenditures would be your tax return really would be a postcard.

Think about all the special interests who do not want that to happen, starting with TurboTax and H&R Block. And the real estate and construction industries. The list is very long.

I’m always amazed by dems getting mad when corporations or trump pay little or no taxes, but won’t get behind something like a flat tax. With a flat tax they would pay way more than nothing. I’m not sure a flat tax is the best option, but it sure it beats a system ruled by lobbies and loaded with deductions.

The flat tax is a shiny object. A misdirection. The flat tax does not contain any magical qualities which will prevent politicians from putting in the exact same exemptions, deductions, and credits.

You have to attack the source. Tax expenditures must be banned.

Not even the Fair Tax has any magical qualities which prevent exemptions. All it would take is one politician saying we need to exempt milk, and then that will be the wedge to piledrive a trillion dollars of additional exemptions. Pardon my mixed metaphors.

In theory, a flat tax gets rid of all expenditures. Adding exemptions wouldnt make it a flat tax anymore, correct?

A flat tax is simply a single tax rate. It has nothing to do with exemptions. So you can tax everyone's income at 15 percent, but exempt any income from a coal mine, for example.

Like I said. No magical quality which prevents corruption.

Flat Tax: What It Is and How It Works

A flat tax system applies the same tax rate to all taxpayers regardless of their income bracket.

www.investopedia.com

Typically, a flat tax applies the same tax rate to all taxpayers, with no deductions or exemptions allowed
That is what I have always believed.

"... but some politicians such as Ted Cruz and Rand Paul have proposed flat tax systems that keep certain deductions in place."

TA-DAAAA!

 

[g5000]

G, what is your opinion on getting rid of the income tax completely and replacing it with a National Sales Tax?

I am in favor of the Fair Tax. Have been for a while now.

 

[TNHarley]

The benefit of eliminating all tax expenditures would be your tax return really would be a postcard.

Think about all the special interests who do not want that to happen, starting with TurboTax and H&R Block. And the real estate and construction industries. The list is very long.

I’m always amazed by dems getting mad when corporations or trump pay little or no taxes, but won’t get behind something like a flat tax. With a flat tax they would pay way more than nothing. I’m not sure a flat tax is the best option, but it sure it beats a system ruled by lobbies and loaded with deductions.

The flat tax is a shiny object. A misdirection. The flat tax does not contain any magical qualities which will prevent politicians from putting in the exact same exemptions, deductions, and credits.

You have to attack the source. Tax expenditures must be banned.

Not even the Fair Tax has any magical qualities which prevent exemptions. All it would take is one politician saying we need to exempt milk, and then that will be the wedge to piledrive a trillion dollars of additional exemptions. Pardon my mixed metaphors.

In theory, a flat tax gets rid of all expenditures. Adding exemptions wouldnt make it a flat tax anymore, correct?

A flat tax is simply a single tax rate. It has nothing to do with exemptions. So you can tax everyone's income at 15 percent, but exempt any income from a coal mine, for example.

Like I said. No magical quality which prevents corruption.

Flat Tax: What It Is and How It Works

A flat tax system applies the same tax rate to all taxpayers regardless of their income bracket.

www.investopedia.com

Typically, a flat tax applies the same tax rate to all taxpayers, with no deductions or exemptions allowed
That is what I have always believed.

"... but some politicians such as Ted Cruz and Rand Paul have proposed flat tax systems that keep certain deductions in place."

TA-DAAAA!

My point being, that isnt a flat tax. If there is deductions, it isnt a flat tax. By definition.

 

[g5000]

So here's a crazy idea. I just thought of this.

The one problem with the Fair Tax is that a lot of people have money they have saved that has already been income taxed. If we then transition to the Fair Tax, that money would be double taxed.

Here's my solution. It ain't perfect but it is better than nothing.

Everyone gets a prebate every month under the current proposed Fair Tax scheme. To mitigate the double taxation problem, we make that prebate fairly large for the first year. Then we scale it back.

How's that?

 

[TNHarley]

G, what is your opinion on getting rid of the income tax completely and replacing it with a National Sales Tax?

I am in favor of the Fair Tax. Have been for a while now.

Seems like a tax cut for the rich, and a hike for the poor but i am not sure.

 

[g5000]

The benefit of eliminating all tax expenditures would be your tax return really would be a postcard.

Think about all the special interests who do not want that to happen, starting with TurboTax and H&R Block. And the real estate and construction industries. The list is very long.

I’m always amazed by dems getting mad when corporations or trump pay little or no taxes, but won’t get behind something like a flat tax. With a flat tax they would pay way more than nothing. I’m not sure a flat tax is the best option, but it sure it beats a system ruled by lobbies and loaded with deductions.

The flat tax is a shiny object. A misdirection. The flat tax does not contain any magical qualities which will prevent politicians from putting in the exact same exemptions, deductions, and credits.

You have to attack the source. Tax expenditures must be banned.

Not even the Fair Tax has any magical qualities which prevent exemptions. All it would take is one politician saying we need to exempt milk, and then that will be the wedge to piledrive a trillion dollars of additional exemptions. Pardon my mixed metaphors.

In theory, a flat tax gets rid of all expenditures. Adding exemptions wouldnt make it a flat tax anymore, correct?

A flat tax is simply a single tax rate. It has nothing to do with exemptions. So you can tax everyone's income at 15 percent, but exempt any income from a coal mine, for example.

Like I said. No magical quality which prevents corruption.

Flat Tax: What It Is and How It Works

A flat tax system applies the same tax rate to all taxpayers regardless of their income bracket.

www.investopedia.com

Typically, a flat tax applies the same tax rate to all taxpayers, with no deductions or exemptions allowed
That is what I have always believed.

"... but some politicians such as Ted Cruz and Rand Paul have proposed flat tax systems that keep certain deductions in place."

TA-DAAAA!

My point being, that isnt a flat tax. If there is deductions, it isnt a flat tax. By definition.

Sure it is. You are still taxed at the single tax rate, only some of your income is deducted. There is absolutely nothing to prevent this. That's why I say the flat tax is misdirection.

The problem is not that we have several tax brackets. The problem is that we have $1.4 TRILLION of annual deductions, credits, and exemptions.

 

[g5000]

G, what is your opinion on getting rid of the income tax completely and replacing it with a National Sales Tax?

I am in favor of the Fair Tax. Have been for a while now.

Seems like a tax cut for the rich, and a hike for the poor but i am not sure.

That's what the prebate is for. Everyone gets the exact same prebate. The prebate mitigates the expenses for essentials every month. If you are poor, you effectively end up paying no tax.

 

[g5000]

Another benefit of eliminating tax expenditures is that you can be sure your neighbor who earned the same income as you paid the same tax as you.

 

[georgephillip]

If you want less money in politics, then you clearly and plainly need less government.

Rich individuals and corporations donate to government in order to achieve favorable tax and trade polices. Government is not the problem; rich people controlling government is the problem:

Federal Election Commission - Wikipedia

"The Federal Election Commission (FEC) is an independent regulatory agency of the United States whose purpose is to enforce campaign finance law in United States federal elections.

"Created in 1974 through amendments to the Federal Election Campaign Act,[4] the commission describes its duties as 'to disclose campaign finance information, to enforce the provisions of the law such as the limits and prohibitions on contributions, and to oversee the public funding of Presidential elections.'

"The commission has not functioned since July 2020 due to lack of a quorum. In the absence of a quorum, the commission cannot vote on complaints or give guidance through advisory opinions.

"As at May 19, 2020, there were 350 outstanding matters on the agency’s enforcement docket and 227 items waiting for action"

If you eliminate the FEC, will rich people have more control over the smaller government?

 

[Gdjjr]

The Federal Reserve will NOT allow a change in how taxes are assessed- flat, fair, or anything else. Tweaking, for appeasement is allowed- but tweaking only-

It HAS to get its user fees- and that, boys and girls, is THE collateral for the Borrow to Spend "trickle down" Keynesean economic policy used by BOTH sides of the aisle to fund what TPTB feel is "fair"- including "welfare", wars (foreign and domestic) which funds "corporate welfare" for the MIC which employs 10's of 1000's of user fee payers, not just lobbyist- as well as "foreign aid" (to Countries that hate the US, namely Israel and Saudi Arabia) but LOVE our "Petrodollar hegemony-

 

[Gdjjr]

If you want less money in politics, then you clearly and plainly need less government.

Rich individuals and corporations donate to government in order to achieve favorable tax and trade polices. Government is not the problem; rich people controlling government is the problem:

Federal Election Commission - Wikipedia

"The Federal Election Commission (FEC) is an independent regulatory agency of the United States whose purpose is to enforce campaign finance law in United States federal elections.

"Created in 1974 through amendments to the Federal Election Campaign Act,[4] the commission describes its duties as 'to disclose campaign finance information, to enforce the provisions of the law such as the limits and prohibitions on contributions, and to oversee the public funding of Presidential elections.'

"The commission has not functioned since July 2020 due to lack of a quorum. In the absence of a quorum, the commission cannot vote on complaints or give guidance through advisory opinions.

"As at May 19, 2020, there were 350 outstanding matters on the agency’s enforcement docket and 227 items waiting for action"

If you eliminate the FEC, will rich people have more control over the smaller government?

That and ALL the alphabet agencies should be eliminated- but that too is a pipe dream- GODvernment MUST have control of the appeasing process for it's millions of acolytes to wallow in.

 

[Toddsterpatriot]

Rich individuals and corporations donate to government in order to achieve favorable tax and trade polices.

Which is only a problem if the government has too much power to hand out tax and trade favors.

 

[Toddsterpatriot]

The Federal Reserve will NOT allow a change in how taxes are assessed- flat, fair, or anything else. Tweaking, for appeasement is allowed- but tweaking only-

Why do you feel the Fed gives a shit about how taxes are assessed?
Or that we should care how the Fed feels?

It HAS to get its user fees-

The Fed? LOL!