The flat tax is a fraud. It raises taxes on the poor and lowers them on the rich. The Flat Tax concept has been laughed off the economic stage.

[merrill]

robertreich.org
https://robertreich.org › post

The flat tax is a fraud. It raises taxes on the poor and lowers them on the rich.
Some drawbacks of a flat tax rate system include lack of wealth redistribution.

Sales taxes are considered regressive because they take a larger percentage of income from low-income taxpayers than from high-income taxpayers.

To make such taxes less regressive, many states exempt basic necessities such as food from the sales tax.

The Flat Tax concept has been laughed off the economic stage more than once. These radical right wing NOT republicans jsut don't get anything.

They just keep bringing back old, worn out ideas from the fuzzy math warehouse. Yes laughed off the right wing economic stage.

 

[merrill]

If wealthy folks don't want to pay their fair share perhaps they should stop making so much money or stop being wealthy. Not remaining wealthy is a bad idea ......paying the fair share is far more fiscally the better idea. Stop whining about it.

 

[Libby von H]

robertreich.org
https://robertreich.org › post

The flat tax is a fraud. It raises taxes on the poor and lowers them on the rich.
Some drawbacks of a flat tax rate system include lack of wealth redistribution.

Sales taxes are considered regressive because they take a larger percentage of income from low-income taxpayers than from high-income taxpayers.

To make such taxes less regressive, many states exempt basic necessities such as food from the sales tax.

The Flat Tax concept has been laughed off the economic stage more than once. These radical right wing NOT republicans jsut don't get anything.

They just keep bringing back old, worn out ideas from the fuzzy math warehouse. Yes laughed off the right wing economic stage.

Flat tax is bad but not for that reason.
Give a billion dollars to one person and they can only buy so many shoes. Give it to thousands and you buy thousands of shoes.
It is a left-wing idea, BTW.

 

[Libby von H]

If wealthy folks don't want to pay their fair share perhaps they should stop making so much money or stop being wealthy. Not remaining wealthy is a bad idea ......paying the fair share is far more fiscally the better idea. Stop whining about it.

Do you realize how much that government you moon over has created these wealthy. Obviously you do not

"More than half of those in Congress are millionaires, data from lawmakers’ most recent personal financial disclosures shows. The median net worth of members of Congress who filed disclosures last year is just over $1 million. "

 

[pknopp]

Argued from an ignorant point of view. The current system allows for many high end earners to avoid large portions of their taxes through deductions.

A "flat tax" does not have to be one single thing.

My flat tax (these numbers are simply made up for the purpose of an example.

0-$20,000 A flat 3%

$20,000-$50,000 A flat 7%

$50,000-$100,000 a flat 9%

$100,000 to $250,000 A flat 12%

$250,000 to $500,000 a flat 18%

Etc.

 

[1srelluc]

Quit worrying about "the poor".....They don't pay anything but sales tax as it is.

There's a reason you see commercials this time of year that start off saying "use you tax refund" for this and that.

 

[pknopp]

Quit worrying about "the poor".....They don't pay anything but sales tax as it is.

There's a reason you see commercials this time of year that start off saying "use you tax refund" for this and that.

When things come crashing down over the ever increasing debt it's going to be the poor that take the brunt of that.

 

[1srelluc]

When things come crashing down over the ever increasing debt it's going to be the poor that take the brunt of that.

Since when was that never the case?

 

[pknopp]

Since when was that never the case?

Hence, I worry about the poor.

 

[Mac-7]

robertreich.org
https://robertreich.org › post

The flat tax is a fraud. It raises taxes on the poor and lowers them on the rich.
Some drawbacks of a flat tax rate system include lack of wealth redistribution.

Sales taxes are considered regressive because they take a larger percentage of income from low-income taxpayers than from high-income taxpayers.

To make such taxes less regressive, many states exempt basic necessities such as food from the sales tax.

The Flat Tax concept has been laughed off the economic stage more than once. These radical right wing NOT republicans jsut don't get anything.

They just keep bringing back old, worn out ideas from the fuzzy math warehouse. Yes laughed off the right wing economic stage.

Taxes exist to pay for the government

Why shouldnt low income people pay their fair share along with everyone else?

 

[leftwinger]

10% Sales Tax is a Flat Tax. Buy a $10K used car pay $1000. Buy a $100K Tesla pay $10K w/o govt subsidy.

Property Tax on a CA $10million dollar home costs $125K annually + 5.5% wealth tax at sale. 350 sq ft in Modesto may costs $100K with $1.25K Flat property Tax annually.


where’s you outrage directed?

 

[Blaster]

robertreich.org
https://robertreich.org

Robert Reich? LOL

 

[1srelluc]

Robert Reich? LOL

Yeah, my first thought too.

 

[1srelluc]

Hence, I worry about the poor.

Your concern is noted.

 

[DGS49]

Here's the way I see it: The highest earners in our country are not corporate CEO's and entertainers (including sports figures) with tens of millions in income. Those people are up there of course, but by far the biggest numbers are entrepreneurs and investors - people like Donald Trump, but usually on a smaller scale. There are hundreds of thousands of them, and they pay the bulk of income taxes in the country.

Such people have a lot of discretion in how and when they report their income. If they don't want to pay any income taxes in a given year, they will sell off investments that are in a loss position and hold the investments that are thriving. Real estate investments are best for this strategy.

If THOSE PEOPLE think that the tax rates are punishing them, they will do everything they can to avoid taxes - all legally, of course - and they will succeed. They will also leave high-tax states for low-tax states, because by doing so they can save millions.

With a flat tax of, say 17-19%, those people will be content and let the chips fall where they may...probably paying as much or more at 18% as they were at the highest marginal tax rate that preceded it.

Furthermore, with a flat tax set at a reasonable rate, they will stop managing their affairs to minimize taxes, and start trying to make as much as possible, which is good for the economy - everybody else benefits. (The same logic applies to a "high" vs. "low" corporate tax rate).

As for people at the bottom of the income pyramid, people who pay nothing or next to nothing now, any flat tax law would surely make allowances so that working-class people pay no more than they do now. There is no way that any law could pass that burdens people barely eking out a living with an 18% income tax (on top of FICA). But EVERYONE should be paying FIT. It is simply bad policy to have some of our people paying zero or even a NEGATIVE income tax (under the EITC). That is truly bullshit.

 

[Anathema]

The flat tax is a fraud. It raises taxes on the poor and lowers them on the rich

That’s exactly what we SHOULD be doing. Make it as unpleasant as possible to be poor. Force them to actually WANT to stop being poor. Incentivize prosperity and wealth.

 

[leftwinger]

Here's the way I see it: The highest earners in our country are not corporate CEO's and entertainers (including sports figures) with tens of millions in income. Those people are up there of course, but by far the biggest numbers are entrepreneurs and investors - people like Donald Trump, but usually on a smaller scale. There are hundreds of thousands of them, and they pay the bulk of income taxes in the country.

Such people have a lot of discretion in how and when they report their income. If they don't want to pay any income taxes in a given year, they will sell off investments that are in a loss position and hold the investments that are thriving. Real estate investments are best for this strategy.

If THOSE PEOPLE think that the tax rates are punishing them, they will do everything they can to avoid taxes - all legally, of course - and they will succeed. They will also leave high-tax states for low-tax states, because by doing so they can save millions.

With a flat tax of, say 17-19%, those people will be content and let the chips fall where they may...probably paying as much or more at 18% as they were at the highest marginal tax rate that preceded it.

Furthermore, with a flat tax set at a reasonable rate, they will stop managing their affairs to minimize taxes, and start trying to make as much as possible, which is good for the economy - everybody else benefits. (The same logic applies to a "high" vs. "low" corporate tax rate).

As for people at the bottom of the income pyramid, people who pay nothing or next to nothing now, any flat tax law would surely make allowances so that working-class people pay no more than they do now. There is no way that any law could pass that burdens people barely eking out a living with an 18% income tax (on top of FICA). But EVERYONE should be paying FIT. It is simply bad policy to have some of our people paying zero or even a NEGATIVE income tax (under the EITC). That is truly bullshit.

Again, those people don’t make regular income (paycheck). The Tax code is a monster, often to encourage social policy. Many posters on this site dont get it. They just scram the rich don’t pay enough.

 

[eagle1462010]

I still gotta do my dang taxes. Id rather do it on a post card pay flat rate. Then we good fire most of the IRS

 

[Oddball]

The horrendously convoluted tax code we have today started out as a tiered flat tax.

 

[mamooth]

Adam Smith, the father of capitalism, wrote that a progressive tax was necessary to preserve capitialism.

Liberals support capitalism, conservatives work to destroy capitalism.