APP - Should we have a tax base in which every individual pays federal income taxes?

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canceled.2021.1

#AMERICAISDEAD
OK Steelplate. Here is your chance for civilized debate. The question is should we have a tax base in which every individual pays federal income taxes.

Before we begin, let me be clear on the parameters. I am speaking ONLY of federal income taxes. This does not include FICA, Medicare or any other taxes. Only federal income taxes.

Out of respect for you, I will allow you to begin.
 
Yes....but it shouldn't be burdensome on the poor....even if it's a token amount for our very poorest, it's better than nothing.
 
I Love America said:
Sheesh. Keep yer knickers up. So now that we agree that everyone should pay, how do you define burdensome?

Were the 1950s rates I posted earlier burdensome? 20%
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On the poorest of Americans? Hell yes....especially with the cost of living today.

One thing you also have to remember is that you could deduct a lot more than you can now. You could deduct all loan interest, for example. Personal loans, car loans, everything.

That's changed to the point where only mortgage interest is deductible and even then....if you buy a cheap house...say...$50k...the interest isn't enough to deduct.....the whole system is skewed towards the top. The more you make, the more opportunities to find deductions and loopholes.
 
Steelplate said:
On the poorest of Americans? Hell yes....especially with the cost of living today.

One thing you also have to remember is that you could deduct a lot more than you can now. You could deduct all loan interest, for example. Personal loans, car loans, everything.

That's changed to the point where only mortgage interest is deductible and even then....if you buy a cheap house...say...$50k...the interest isn't enough to deduct.....the whole system is skewed towards the top. The more you make, the more opportunities to find deductions and loopholes.
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How is the system skewed toward the top when you have people paying ZERO income taxes which wasn't the case in 1950. There are people today that aren't pulling their end of the bargain. How is that fair?

It seems that the more progressive the tax code gets the higher the burden the rich pays. Can you explain that? How can you say that our tax code isn't progressive and that the rich aren't paying their fair share?


http://www.heritage.org/research/re...p-20-percent-pay-record-share-of-income-taxes
 
I Love America said:
How is the system skewed toward the top when you have people paying ZERO income taxes which wasn't the case in 1950. There are people today that aren't pulling their end of the bargain. How is that fair?

It seems that the more progressive the tax code gets the higher the burden the rich pays. Can you explain that? How can you say that our tax code isn't progressive and that the rich aren't paying their fair share?


http://www.heritage.org/research/re...p-20-percent-pay-record-share-of-income-taxes
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Funny how your stats show the top 20%. When the top 1% pay mostly in the high teens once they get all their deductions and credits.....and Capital Gains is 15%, which is where most of the wealthy's assets are...and the effective Corporate rate is nil for many of the largest of Corprations.

Who said that paying zero is fair? We already agreed that it's not.
 
Steelplate said:
Funny how your stats show the top 20%. When the top 1% pay mostly in the high teens once they get all their deductions and credits.....and Capital Gains is 15%, which is where most of the wealthy's assets are...and the effective Corporate rate is nil for many of the largest of Corprations.

Who said that paying zero is fair? We already agreed that it's not.
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show me where the corporate rate is nil for many of the largest corporations?

as for 1% vs top 20% we can nitpick and cherry pick all day long, but the net effect is the same. We have one of the most progressive tax codes in the world AND the tax burden is shifting UPWARD not down. We are transferring wealth to the lower incomes not the other way around. The data is clear on that.
 
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