This 1 Quote Explains America's Biggest Problem Perfectly

evince said:
give your proof that what you say in more than right wing blather
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How about you show something Desh? You complain about crony capitalism but then think any suggestion for change is trying to destroy the government. Do you have any actual ideas?
 
why do you pretend I don't?

you keep ignoring threads like the Volcker rule an bank consolidation.

You just pretend nothing is said
 
evince said:
why do you pretend I don't?

you keep ignoring threads like the Volcker rule an bank consolidation.

You just pretend nothing is said
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What exactly does the Volker rule have to do with crony capitalism and tax rates?
 
evince said:
http://www.investopedia.com/articles/tax/09/flat-taxes.asp


So, Why Not Move to a Flat Tax?
First, while there is no doubt that many countries that have adopted the flat tax have had booming economies, there is no actual proof that the flat tax is the reason why these nations have grown. After all, many of these places were Communist nations behind the Iron Curtain. Once the Soviet Union collapsed they were able to open up their economies to investment and had an easier time trading with the developed countries in the west. (To find out how former Iron Curtain countries used private enterprise to join the world financial markets, refer to State-Run Economies: From Public To Private.)

In addition, a flat tax may not be as fair as one would think. A gradual tax system does allow for things like wealth redistribution, which many have argued is a major benefit to society. And a flat tax could also give middle class families an extra burden. If someone making one million per year has to pay 18% of his income in taxes, he still has netted $820,000 for the year, a figure which still has great purchasing power. But a person making $50,000 per year is left with $41,000 per year; that difference can influence fiscal decisions, like purchasing a new car versus a used car, whether to place a down payment on a house or affording either a state school or private college, extremely tough for people who make closer to the national median income level.

In addition, when a group of countries near each other enact a flat tax, it creates a race towards the bottom; in order to compete, nations must keep on lowering their tax rates, a problem which could lead to fiscal instability.

Lastly, in the wake of the 2008 recession, many countries who have adopted a flat tax have suffered greatly. Take for instance, Latvia, one of the earliest countries to adopt the flat tax. Latvia's economy fell by a whopping 10.5% in the final quarter of 2008; it's expected to drop another 12% over the course of 2009. Its debt is 116% of its GDP; unemployment has climbed to 9%, a figure which would be higher if not for the many residents who have moved to other parts of Europe to find work, and it has had to take a bailout from the International Monetary Fund in order to pay public sector workers. And Latvia's Baltic neighbors, Lithuania and Estonia, have also faced similar pitfalls. All of this, some say, is a sign that these nations have not raised enough tax dollars due to their tax policies. Others, however, say that these nations rely on exports, which have suffered greatly due to the downturn facing major economies. (For a list of recession indicators, read Recession Stats You Need To Know.)

The Bottom Line
So, will the entire world one day have a flat tax? It's unlikely, especially in the world's biggest economies which have a long-established tax code that many might not want to change. But it is likely that, despite recent pitfalls, many smaller and growing nations may see the benefits of charging everyone the same tax.
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Bottom line to this moronic articles premise; professional political hacks who pander to sheep like brain dead voters will never support such a tax code revision, therefore, we must continue supporting corrupt crony capitalism conducted by corrupt political apparatchiks.

Yes, you really are THAT incredibly stupid and gullible.

By they way, you could fit the entire Baltic regions population in the Los Angeles basin. Hardly a compelling argument. But what is "fair" about the flat tax is that EVERYONE pays their share; not just selected classes based on the politics of Marxist lass envy. This incentivizes growth, savings and economic prosperity. The current system encourages debt and malaise.
 
http://en.wikipedia.org/wiki/Volcker_rule


read up



The Volcker Rule is a specific section of the Dodd–Frank Wall Street Reform and Consumer Protection Act originally proposed by American economist and former United States Federal Reserve Chairman Paul Volcker to restrict United States banks from making certain kinds of speculative investments that do not benefit their customers.[1] Volcker argued that such speculative activity played a key role in the financial crisis of 2007–2010.
 
evince said:
give your proof that what you say in more than right wing blather
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I'm amused that you require proof that eliminating an abomination like the current tax code and implementing term limits would not release an incredible economic boom, but need little or no proof to sustain your belief in the current level of corrupt hyper partisan economic malaise you are living in.

But then, leftist dimwits believe that the economic pie is finite and that we have a revenue problem...because they really are THAT stupid.
 
evince said:
its way more proof than you have offered of anything your saying idiot
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It wasn't proof dimwit; it was an essay filled with opinion and hyperbole. But you're an idiot; how could you possibly comprehend anything you read?

Carry on dullard; you're a constant reminder of why one should never argue with idiots.
 
Truth Detector said:
It wasn't proof dimwit; it was an essay filled with opinion and hyperbole. But you're an idiot; how could you possibly comprehend anything you read?

Carry on dullard; you're a constant reminder of why one should never argue with idiots.
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so you just ignored the factual basis that was given you in it or never really read it huh
 
Truth Detector said:
Dear dimwit; instituting a Fair or Flat tax will result in MORE revenue, not less. But alas, you are a dimwit who still moronically believes that this nation has a revenue problem and not a SPENDING problem...because you really are THAT incredibly stupid which is why you are a hyper partisan Democrat.
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because you give NO proof of your claim.

being an asshole is not evidence
 
evince said:
http://www.investopedia.com/articles/tax/09/flat-taxes.asp


So, Why Not Move to a Flat Tax?
First, while there is no doubt that many countries that have adopted the flat tax have had booming economies, there is no actual proof that the flat tax is the reason why these nations have grown. After all, many of these places were Communist nations behind the Iron Curtain. Once the Soviet Union collapsed they were able to open up their economies to investment and had an easier time trading with the developed countries in the west. (To find out how former Iron Curtain countries used private enterprise to join the world financial markets, refer to State-Run Economies: From Public To Private.)

In addition, a flat tax may not be as fair as one would think. A gradual tax system does allow for things like wealth redistribution, which many have argued is a major benefit to society. And a flat tax could also give middle class families an extra burden. If someone making one million per year has to pay 18% of his income in taxes, he still has netted $820,000 for the year, a figure which still has great purchasing power. But a person making $50,000 per year is left with $41,000 per year; that difference can influence fiscal decisions, like purchasing a new car versus a used car, whether to place a down payment on a house or affording either a state school or private college, extremely tough for people who make closer to the national median income level.

In addition, when a group of countries near each other enact a flat tax, it creates a race towards the bottom; in order to compete, nations must keep on lowering their tax rates, a problem which could lead to fiscal instability.

Lastly, in the wake of the 2008 recession, many countries who have adopted a flat tax have suffered greatly. Take for instance, Latvia, one of the earliest countries to adopt the flat tax. Latvia's economy fell by a whopping 10.5% in the final quarter of 2008; it's expected to drop another 12% over the course of 2009. Its debt is 116% of its GDP; unemployment has climbed to 9%, a figure which would be higher if not for the many residents who have moved to other parts of Europe to find work, and it has had to take a bailout from the International Monetary Fund in order to pay public sector workers. And Latvia's Baltic neighbors, Lithuania and Estonia, have also faced similar pitfalls. All of this, some say, is a sign that these nations have not raised enough tax dollars due to their tax policies. Others, however, say that these nations rely on exports, which have suffered greatly due to the downturn facing major economies. (For a list of recession indicators, read Recession Stats You Need To Know.)

The Bottom Line
So, will the entire world one day have a flat tax? It's unlikely, especially in the world's biggest economies which have a long-established tax code that many might not want to change. But it is likely that, despite recent pitfalls, many smaller and growing nations may see the benefits of charging everyone the same tax.
Click to expand...


1) You eliminate the problem of burdening the middle class by having a flat tax with a standard deduction
2) The flat tax can be set to whatever rate is needed. Pretending it cannot raise enough revenue is just a pathetic way for idiots to cling to the status quo... which is not working.
3) You claim you want to get rid of crony capitalism, fraud etc... yet you support the very system that makes it easier for the crony capitalism to exist.
 
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