This 1 Quote Explains America's Biggest Problem Perfectly

cawacko said:
SMDFH. We are talking about corporations here. Jesus Christ.
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Keep in mind... you are talking to Desh... a fucking retard... she simply spews forth what her masters have taught her to parrot. She has never had an original idea, nor does she possess the ability to have an honest discussion.
 
Superfreak said:
Keep in mind... you are talking to Desh... a fucking retard... she simply spews forth what her masters have taught her to parrot. She has never had an original idea, nor does she possess the ability to have an honest discussion.
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I go back to my thought that she may be the greatest troll ever.
 
evince said:
A flat tax (short for flat tax rate) is a tax system with a constant marginal rate, usually applied to individual or corporate income. A flat tax falls under proportional tax as they allow certain deductions. There are various tax systems that are labeled "flat tax" even though they are significantly different.



"True" flat rate income tax[edit]

A true flat rate tax is a system of taxation where one tax rate is applied to all income with no deductions or exemptions.



http://en.wikipedia.org/wiki/Flat_tax
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Again; you cut and paste, but do not comprehend what it is you read.

Of course you would be repulsed by anything that might change the status quo; dimwits think that the current system works just fine.
 
Superfreak said:
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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you sure seemed to think it was flat
 
evince said:
higher taxes on the wealthy .


Its worked in the past
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This is a lie; there is no evidence higher taxes "worked". What does "worked" mean? If it is higher revenue, the answer is no because when marginal tax rates were significantly dropped, revenue continued to increase.

You see dimwit, the Government does not have a "revenue" problem, it has a "SPENDING" problem.
 
Superfreak said:
Actually you are incorrect. While it would have a temporary second rate, the design of the plan is that of a flat tax. A flat tax is a constant tax rate on income. That is what would be charged to everyone on every dollar.

I simply added a secondary tax for the dedicated purpose of paying down the debt.
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This is why the Fair Tax makes more sense. You still have massive IRS intervention, temporary taxes that seem to never go away and the need to fill out forms and be audited for income.

Why not a consumption tax on goods and services? No need for audits on individuals; businesses collect the tax and render them and you would not need the massive bureaucracy of the IRS or 35 staffers for Congress people.
 
Quote Originally Posted by Superfreak View Post

For Desh... AGAIN...

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $1 million (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.

There is no corporate tax. Eliminate it. We can tax the money earned via capital gains taxation and distributions to shareholders. The only other way the money can come out of the firm is via salary/benefits... which would also be taxed. Done.







We would eliminate 70k+ pages of loopholes/deductions/subsidies...







Its not flat
 
evince said:
then why isn't it law?
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Republicans and Democrats support the status quo because it is what allows them to get and stay elected. They use the tax code to benefit organizations that support them.

Now tell why us you complain about the status quo yet don't want it changed?
 
Truth Detector said:
This is why the Fair Tax makes more sense. You still have massive IRS intervention, temporary taxes that seem to never go away and the need to fill out forms and be audited for income.

Why not a consumption tax on goods and services? No need for audits on individuals; businesses collect the tax and render them and you would not need the massive bureaucracy of the IRS or 35 staffers for Congress people.
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No, it doesn't make more sense. A fair tax is REGRESSIVE in nature. You have MORE intrusion from the government in terms of determining what goods and services get taxed and/or who qualifies for subsidies or not etc...

A flat tax is simple. It is taken out of wages directly. For those with investments, it can be automatically withheld from sales (if cap gains exist) or from distributions of dividends.

The temporary tax is obviously too confusing for some on this board. It is not a part of the flat tax portion of the proposal. It was added as an idea for a pay down of our debt. Yes... the 'temporary' portion could go on for a long time if the idiots in DC keep outspending income.
 
Superfreak said:
No, it doesn't make more sense. A fair tax is REGRESSIVE in nature.
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How can that be? Is anyone forcing you to buy things? There is a prebate to account for lower income individuals buying neccessities.

Superfreak said:
You have MORE intrusion from the government in terms of determining what goods and services get taxed and/or who qualifies for subsidies or not etc...
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Not really, you have much LESS intrusion in that it applies specifically to goods and services which is already used in most States successfully and with low admin costs, there are no subsidies other than the annual prebate and there are no forms to be filled out by individuals.

Superfreak said:
A flat tax is simple. It is taken out of wages directly. For those with investments, it can be automatically withheld from sales (if cap gains exist) or from distributions of dividends.
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Yes, but not as simple as a Fair Tax. ;)

Superfreak said:
The temporary tax is obviously too confusing for some on this board. It is not a part of the flat tax portion of the proposal. It was added as an idea for a pay down of our debt. Yes... the 'temporary' portion could go on for a long time if the idiots in DC keep outspending income.
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It is, in itself, a bad idea. There is no need to “pay down the debt.” The debt will disappear with economic growth and controlled spending. There is no need to “spend it down” with additional taxes.

Again, we do not have a “revenue” problem; it is a “spending” problem.

But that stated, I am WITH you not AGAINST you; anything is better than what we have now. I just believe the Fair Tax is the best alternative and will create such an economic boom that we have not seen since the gold rush days.
 
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That's some damn good insight right there ken. It really sheds some light on the situation. Well done sir.
 
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