What is your ideal Federal Income Tax structure?

[BulletProof]

Trump also plays this game. I hear with his new tax scheme people will no longer be able to deduct their state income taxes. Well guess who this hurts? It hurts those the worst who live in liberal high tax states. It's like sticking a dagger into your enemy and twisting the blade.

The Republican plan significantly increases the standard deduction, meaning pretty much only the rich would be able to deduct local taxes, anyway. But, don't worry, Trump is still cutting the taxes of the rich, in case you're concerned about the hardships the rich might face without deduction for state taxes paid. And, the middle-class will pay for it.

Besides, why should the feds subsidize and enable high state tax rates with federal tax breaks?

 

[Votto]

Trump also plays this game. I hear with his new tax scheme people will no longer be able to deduct their state income taxes. Well guess who this hurts? It hurts those the worst who live in liberal high tax states. It's like sticking a dagger into your enemy and twisting the blade.

The Republican plan significantly increases the standard deduction, meaning pretty much only the rich would be able to deduct local taxes, anyway. But, don't worry, Trump is still cutting the taxes of the rich, in case you're concerned about the hardships the rich might face without deduction for state taxes paid. And, the middle-class will pay for it.

Besides, why should the feds subsidize and enable high state tax rates with federal tax breaks?

Why should anyone get a tax break?

 

[bripat9643]

Mine is:

15% flat tax on any income over $20,000 and a 1% FEDERAL SALES TAX ON ALL NON-FOOD ITEMS.

No exemptions. No deductions.

Simple..easy...fair.

Mine is the Fair Tax, with no exemptions.

describe what that is? that post says nothing.

The Fair Tax is a sales tax with a prebate. The prebate offsets the taxes on necessities. It offsets the regressive nature of a sales tax.

Everyone receives the same prebate amount, whether they are a slum tenant or a New York huckster fake billionaire.

It's a tax on consumption, which is superior to a tax on production (income tax).

You used to be opposed to the FAIR tax.

 

[bripat9643]

Mine is:

15% flat tax on any income over $20,000 and a 1% FEDERAL SALES TAX ON ALL NON-FOOD ITEMS.

No exemptions. No deductions.

Simple..easy...fair.

We should replace the income tax but we won't

Personally I think a national sales tax would be the answer but not the Fair Tax proposal

But if we are going to have an income tax it should be structured like every other tax and be one flat rate. I think it should be a lower rate than 15% but placed on all income of any type including capital gains.

What's wrong with the FAIR tax? It is a national sales tax.

 

[bripat9643]

And then we had the great depression

Are you attempting to connect the Great Depression with the tax policies of President Coolidge's administration ... If so, please explain ...

.

Yup

In an era of low regulation and unchecked speculation, Coolidge's economy crashed seven months into Hoover's term

It crashed because the Federal Reserve was inflating the supply of credit. So-called "speculation" was never regulated until FDR ascended the throne. The same goes for most regulation. The only thing different during the 1920s was the existence of the Fed.

 

[Skull Pilot]

Mine is:

15% flat tax on any income over $20,000 and a 1% FEDERAL SALES TAX ON ALL NON-FOOD ITEMS.

No exemptions. No deductions.

Simple..easy...fair.

We should replace the income tax but we won't

Personally I think a national sales tax would be the answer but not the Fair Tax proposal

But if we are going to have an income tax it should be structured like every other tax and be one flat rate. I think it should be a lower rate than 15% but placed on all income of any type including capital gains.

What's wrong with the FAIR tax? It is a national sales tax.

The fair tax includes what they call a "prebate" where every person in the country is sent a check every month.

To me that is ludicrous and expensive. It makes absolutely no sense to charge a higher rate then incur the cost of writing every single person in the country a check every month. Just lower the rate and eliminate the "prebate"

 

[BulletProof]

To me that is ludicrous and expensive. It makes absolutely no sense to charge a higher rate then incur the cost of writing every single person in the country a check every month. Just lower the rate and eliminate the "prebate"

Do you have a f1cking clue why the prebate exists in the first place, in the Fair Tax? Apparently not.

 

[BrokeLoser]

Mine is:

15% flat tax on any income over $20,000 and a 1% FEDERAL SALES TAX ON ALL NON-FOOD ITEMS.

No exemptions. No deductions.

Simple..easy...fair.

I loved the movie Robin Hood as a kid... I would love a Robin Hood tax structure.

Take all the money away from the rich and give to the poor. Tax the hell out of them. Republicans call high taxes on the rich theft, I say who cares they deserve to have most of their money taken away from them via taxes. Robin Hood was my hero as a kid, do whatever needs be done to take away all the money from the rich and give it to the poor. Tax the hell out of them. Evenly spread the wealth. Tax the upper-middle class like crazy too.

Careful now....you're gonna have all the LefTard whackos bustin nut in their little pink panties.
I say we cap and penalize our most productive and reward our bottom feeders for not contributing via a "bottom up" tax system.
ShaQuita and Guadalupe need to smoke more weed and drink more 40's....Bill Johnson doesn't really "have" to drive that S-Class Benz.
(How fucking retarded do I sound?)

 

[Skull Pilot]

To me that is ludicrous and expensive. It makes absolutely no sense to charge a higher rate then incur the cost of writing every single person in the country a check every month. Just lower the rate and eliminate the "prebate"

Do you have a f1cking clue why the prebate exists in the first place, in the Fair Tax? Apparently not.

What does it matter?

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

If you owned a store would it be less expensive to just charge the 50 bucks or would it be less expensive to charge the 100 bucks and write every customer a check for 50 bucks?

 

[The Sage of Main Street]

$0 to $50,000 No income tax
$50,000 to $150,000 25%
$150,00 to $1 million 35%
Over $1 million 50%

I see some immediate flaws here:

1. Someone making $150,000 would have $112,500 after taxes, while someone making just a dollar more would only have $97,500.65.
2. Someone making $1 million would have $650,000 after taxes, while someone making just a dollar more would only have $500,000.
3. One would have to "jump" from making 150,000 to over 173,000 to see an after tax increase.
4. One would have to "jump" from making 1 million to over 1.3 million to see even one more dollar after taxes.
5. One making a "jump" from 50,000 to 67,000 would only see an increase of $250 after taxes.

Is this not one the major flaws of any "progressive" tax plan? There is a major disincentive to move only slightly into a higher tax bracket. Whereas, in a flat, or a spending plan, there is no disincentive to anyone who wishes to incrementally increase their income. I see several manifestations of this:

1. People refusing wage increases.
2. People closing their businesses/adjusting pricing for periods of time to ensure they would be in a tax advantageous position.
3. People seeing certain career paths as poor choices based on taxes.

I am sure there are others I am not thinking of.

Economic Treason Is a Capital Offense

In order to protect your millionaire messiahs, you think up a strawman in order to make an imaginary point against what you hope suckers beiieve are progressive income taxes. But in real life, the increased tax is paid only on the amount over a bracket. Nobody takes home less by earning more.

For example, suppose $100,000 is the limit for the 10% tax bracket. so that person's take home is $90,000. If the next bracket's tax is 20% and he gets a raise of $1,000, then his take home is $90,800. It is not your dishonest accounting's paid-for sum of $80,000. The plutocrats hire Low IQ publicity agents and still get away with their tyranny. That's why dumbed-downed education's purpose is to benefit anti-social Scrooges who refuse to pay taxes in proportion to how much society benefits them.

 

[BulletProof]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

 

[Skull Pilot]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter. it does nothing to charge a higher rate on things only to give a portion of that money back every month. Why not just lower the rate and skip all the extra crap?

 

[BulletProof]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter. it does nothing to charge a higher rate on things only to give a portion of that money back every month. Why not just lower the rate and skip all the extra crap?

You still are completely clueless why the prebate exists in the Fair Tax. It never ceases to amaze me how people totally ignorant of even the most basic facts still feel free to express confident solutions, even after their face has been rubbed in their ignorance.

 

[g5000]

Mine is:

15% flat tax on any income over $20,000 and a 1% FEDERAL SALES TAX ON ALL NON-FOOD ITEMS.

No exemptions. No deductions.

Simple..easy...fair.

Mine is the Fair Tax, with no exemptions.

describe what that is? that post says nothing.

The Fair Tax is a sales tax with a prebate. The prebate offsets the taxes on necessities. It offsets the regressive nature of a sales tax.

Everyone receives the same prebate amount, whether they are a slum tenant or a New York huckster fake billionaire.

It's a tax on consumption, which is superior to a tax on production (income tax).

You used to be opposed to the FAIR tax.

Nope. You're thinking of someone else.

 

[g5000]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter.

Actually, it does matter. It has to do with the fact that sales taxes are regressive.

 

[Skull Pilot]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter. it does nothing to charge a higher rate on things only to give a portion of that money back every month. Why not just lower the rate and skip all the extra crap?

You still are completely clueless why the prebate exists in the Fair Tax. It never ceases to amaze me how people totally ignorant of even the most basic facts still feel free to express confident solutions, even after their face has been rubbed in their ignorance.

I know why they say it exists.

But tell me how is the so called prebate calculated? There is nothing in their website that gives that calculation.

And how much will it cost to implement? Every single person who pays the national sales tax will get a check every month for an as yet undetermined amount.

The prebate will be the biggest and most expensive entitlement program ever dreamed of.

You eliminate the prebate and lower the rate so as to collect the same revenue that would be netted or you exclude certain classes of goods and services such as grocery and clothing items up to a set dollar amount or a combination of both

Either way you eliminate the most expensive part of the plan, lower the rate of the sales tax AND still collect the same net revenue

 

[Skull Pilot]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter.

Actually, it does matter. It has to do with the fact that sales taxes are regressive.

A tax is a tax. We need to stop putting labels on them.
But then you tell me why charging a higher rate on a tax only to give every person who pays that check a monthly government check is better than just lowering the rate for everyone and eliminating the expense of that type of entitlement program?

 

[g5000]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter.

Actually, it does matter. It has to do with the fact that sales taxes are regressive.

A tax is a tax. We need to stop putting labels on them.
But then you tell me why charging a higher rate on a tax only to give every person who pays that check a monthly government check is better than just lowering the rate for everyone and eliminating the expense of that type of entitlement program?

You really don't know what regressive means, do you.

 

[Skull Pilot]

Tell me do you save more money if you buy something for $100 then get a check back for $50 than if you just bought the same thing for $50 in the first place?

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter.

Actually, it does matter. It has to do with the fact that sales taxes are regressive.

A tax is a tax. We need to stop putting labels on them.
But then you tell me why charging a higher rate on a tax only to give every person who pays that check a monthly government check is better than just lowering the rate for everyone and eliminating the expense of that type of entitlement program?

You really don't know what regressive means, do you.

I know what people say it means I just disagree with the term.

 

[g5000]

Your example has nothing to do with the reason prebates are part of the Fair Tax.

The reason doesn't matter.

Actually, it does matter. It has to do with the fact that sales taxes are regressive.

A tax is a tax. We need to stop putting labels on them.
But then you tell me why charging a higher rate on a tax only to give every person who pays that check a monthly government check is better than just lowering the rate for everyone and eliminating the expense of that type of entitlement program?

You really don't know what regressive means, do you.

I know what people say it means I just disagree with the term.

Well, you are wrong.