Tax Increases Are On the Way For Higher-Income Americans

Jarod said:
I belive that income tax is about the least fair way to get income for the government. Id be for doing away with it for a more fair system.

Why tax income, those with income are the ones contributing the most and trying to make better of ourselves.

I dont belive it is perfectly fair, but MUCH MORE fair than taxing income would be an estate tax.
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An estate tax is never going to pull in that much. You could fund the government off of a HUGE, and I'm talking 10% or so, net worth tax. It would be very difficult to manage, however, and it would make retirement practically impossible.
 
there should be like a 30,000 deduction indexed to inflation. Then income should only be taxed to about $200,000.

It's gay to overly punish successful people.
 
Lets tax something more fair than income... Lets tax tourism, gas, cigeretts, alchole, movies, television, and internet.
 
Topspin said:
there should be like a 30,000 deduction indexed to inflation. Then income should only be taxed to about $200,000.

It's gay to overly punish successful people.
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So someone who makes a billion a year should pay the same TAX (not the same RATE, the same total TAX) as someone who makes 200k a year?
 
Jarod said:
Lets tax something more fair than income... Lets tax tourism, gas, cigeretts, alchole, movies, television, and internet.
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Why is it any less fair to tax it coming in than going out? I would support a tax because it's more economically efficient than an income tax, but moralistic reasons like "it's not fair to tax what someone produces!" don't fly with me.
 
Onceler said:
I don't know what the fairest system would be. I have always felt strongly that the gov't shouldn't take more than a third of someone's income; maybe that's an arbitrary cutoff, but it makes sense to me.

As for the estate tax, I think you have to be careful. While I agree that having no estate tax ultimately leads to a new aristocracy, I also understand that it's basically immoral to fleece someone who worked their whole life so their kids could have a somewhat easier road.

I don't mind the current system; like everyone, I want to see the code simplified, and as long as they can keep the rates in the 30's, it's fairly reasonable. I just think it would be nice to hear them talking about both attacking the waste that increases the need for tax so much, and also talk about at least trying to keep the tax rates down....
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On the estate tax, I actually like Obama's proposal. Make the exemption level $7mm. (though I would have preferred he also have annual adjustments based on inflation)
 
Id like to get rid of as much income tax as possable and use other methods, I like the net worth tax... But very difficult to manage and you would have to exempt the first million or so.
 
Atheistmark said:
So someone who makes a billion a year should pay the same TAX (not the same RATE, the same total TAX) as someone who makes 200k a year?
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IM more for taxing only income above 200,000. Give the person trying to get ahead a break.
 
the net worth and estate taxes are more evil than the income tax.

I hate fucking losers who have nothing and want the rich to subsidize their slackness.
 
Topspin said:
there should be like a 30,000 deduction indexed to inflation. Then income should only be taxed to about $200,000.

It's gay to overly punish successful people.
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Then you may as well shut down the government. Because there is NO way that would pay for even the most basic needs.

Flat tax... 20% on all income (cap gains, wages, dividends etc...)

$30k per adult standard deduction (adjusted annually for inflation)

After $1mm... tax an additional 10%.... that money goes to pay down the debt.

Period. No other deductions. No loopholes.

Done.

Simple. Fair. Progressive.
 
Superfreak said:
Then you may as well shut down the government. Because there is NO way that would pay for even the most basic needs.

Flat tax... 20% on all income (cap gains, wages, dividends etc...)

$30k per adult standard deduction (adjusted annually for inflation)

After $1mm... tax an additional 10%.... that money goes to pay down the debt.

Period. No other deductions. No loopholes.

Done.

Simple. Fair. Progressive.
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We would go broke.

I doubt that would even generate enough to service the debt.
 
Topspin said:
the net worth and estate taxes are more evil than the income tax.

I hate fucking losers who have nothing and want the rich to subsidize their slackness.
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I hate the fucking losers who inherited all there money and never worked a day who want to be subsidzed by us hard working folk.
 
Jarod said:
We would go broke.

I doubt that would even generate enough to service the debt.
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I honestly think a 20% flat tax could do it. Actually, the basic rate could be a little lower. A 17% flat rate without deductions would probably take in as much money as the current system.
 
Atheistmark said:
I honestly think a 20% flat tax could do it. Actually, the basic rate could be a little lower. A 17% flat rate without deductions would probably take in as much money as the current system.
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How about a national sales tax of about 15%, no income tax.
That would get the dope dealers and all black market activity under the tax umbrella.
 
Topspin said:
How about a national sales tax of about 15%, no income tax.
That would get the dope dealers and all black market activity under the tax umbrella.
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Most dope dealers pay income tax... They just dont list there occupation on the returns.
 
Jarod said:
We would go broke.

I doubt that would even generate enough to service the debt.
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Are you ignorant? rhetorical question... no real need for you to answer that.

you realize that very few (if any) pay an effective tax rate over 28%. You do know that right?

You also realize that the bottom 50% pay less than 3% of all income taxes right now... right?

To pull some idiotic comment out of your ass just goes to show your ignorance on yet ANOTHER topic. You doubt it would generate enough to cover the debt? ROFLMAO.... idiot.
 
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