Should people that make more than you, be taxed more, simply for making more than you

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Should people that make more than you, be taxed more, simply for making more than you?
 
So would you favor a straight percentage across the board, regardless of gross income, derivation, charitable donations and other currently deductible amounts?
 
Do you mean 23% of gross income as a flat rate?


I was talking about allowable deductions that reduce taxable income.
 
why does legion troll constantly take concepts from another thread and start an entirely different thread on the same topic?

i asked him, essentially, this question, and now he felt it deserved an entire thread.

just curious as to why.
 
Please list the deductions you'd allow, and the maximum dollar amount for each.
 
I say no deductions, no loopholes, and everyone should pay about 23% of what they spend on new goods and services. And we can give a refund on 23% of whatever is determined to be the poverty level. No tax at all on used goods.

Now if only we could come up with a good name for such a fair tax plan.
 
WinterBorn said:
I say no deductions, no loopholes, and everyone should pay about 23% of what they spend on new goods and services. And we can give a refund on 23% of whatever is determined to be the poverty level. No tax at all on used goods. Now if only we could come up with a good name for such a fair tax plan.
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How about Pipe Dream?
 
\(\()/)/ said:
How about Pipe Dream?
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Probably right. The people who pay no taxes (and there are plenty of them), and the people who use the IRS as a threat to maintain control would never go for my tax plan.
 
Everybody DANCE! said:
Yes, 23% gross. I'm basically advocating SF's plan, but at a 3% increase.
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Which explains brilliantly just exactly why his plan is STUPID! As long as we maintain the current system of taxation, Liberals won't rest until tax rates are through the roof on everyone not in the Food Stamp line. That's just the facts of life, and SF wants to keep his head buried in the sand on it.

A CONSUMPTION TAX TO REPLACE INCOME TAX is the way to go! Repeal the 16th Amendment!
 
Damocles said:
A standard deduction, all income above it taxed at 23%, would be both progressive and fair. And it would even satisfy that tax dodging Buffett (well at least his company dodges taxes..) He would pay more than his secretary, if he ever deigned to pay what he owed in the first place.

http://www.huffingtonpost.com/2011/08/29/warren-buffett-taxes-berkshire-hathaway_n_941099.html
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would business expenses still be deductible under your scheme and what would you propose for a standard deduction?
 
Schadenfreude said:
would business expenses still be deductible under your scheme and what would you propose for a standard deduction?
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Business expenses would not be "deductible". One standard deduction... Around 50K or so, the rest of the income taxed around 20 to 23%.

Basically if you made less than 50K, you'd pay no tax.

If you made 55K you'd pay the tax rate on $5K (we'll use 23% for this example) that would be $1150 which would be an effective rate of: 2%.

If you made 100K you'd pay the tax rate on 50K, that would be $11,500, which would be an effective rate of: 11.5%.

If you made 1M you'd pay the tax rate on $950,000, that would be $218,500, which would be an effective rate of: 21.5%...

That's just a short table... No other deductions allowed.

Honest business expenses would not count against earnings, they wouldn't be deductible but you pay tax on earnings, not on expenses.
 
Damocles said:
Business expenses would not be "deductible". One standard deduction... Around 50K or so, the rest of the income taxed around 20 to 23%.

Basically if you made less than 50K, you'd pay no tax.

If you made 55K you'd pay the tax rate on $5K (we'll use 23% for this example) that would be $1150 which would be an effective rate of: 2%.

If you made 100K you'd pay the tax rate on 50K, that would be $11,500, which would be an effective rate of: 11.5%.

If you made 1M you'd pay the tax rate on $950,000, that would be $218,500, which would be an effective rate of: 21.5%...

That's just a short table... No other deductions allowed.

Honest business expenses would not count against earnings, they wouldn't be deductible but you pay tax on earnings, not on expenses.
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that would be hard on most 'honest' bsuinesses

my brother and his wife own two houses and rent them out, they earn a total of $24,000 before taxes and deductions for interest on loans, taxes and insurance

also, they receive about $36,000 from social security (which is not an entitlement but a paid insurance program and currently is not taxable)

if current tax deductions for rental properties are disallowed, then rental properties will disappear and a lot more people will be homeless

also, would a standard deduction apply to single people the same as married people
 
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