super thinks this is a flat tax plan

evince

evince

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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...


Quote from Cypress:
"Scientists don't use "averages". Maybe armchair supertools on message boards ascribe some meaning to "averages" between two random data points. And maybe clueless amatuers "draw a straight line" through two random end data points to define a "trend". Experts don't.

They use mean annual and five year means in trend analysis. Don't tell me I have to explain the difference to you. "


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Dear fucking moron... why is it that you started a new thread on this when we were already discussing it on the other thread? You fucking moron.
 
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
 
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
Click to expand...

tell us Desh... WHO is it that gets to determine what a 'true' flat tax is?
 
evince said:
http://www.heritage.org/research/fa...w-flat-tax-encourages-growth-and-job-creation


even the heritage foundation knows you lying now



One Tax System with One Rate for All: In addition to the income tax, the federal government imposes payroll tax, death tax, and a slew of excises. The New Flat Tax replaces them all for individuals, families, and businesses with one tax system with one tax rate of roughly 28 percent.
Click to expand...

Again you fucking idiot... my suggestion ALSO only has ONE rate. You are simply too fucking stupid to realize it. No matter how many times I tell you, you continue to LIE.
 
http://en.wikipedia.org/wiki/Progressive_tax


A progressive tax is a tax in which the tax rate increases as the taxable base amount increases.[1][2][3][4][5] The term "progressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from low to high, where the average tax rate is less than the marginal tax rate.[6][7] The term can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability-to-pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, where the relative tax rate or burden increases as an individual's ability to pay it decreases.[5]
 
http://www.investopedia.com/terms/p/progressivetax.asp


Definition of 'Progressive Tax'


A tax that takes a larger percentage from the income of high-income earners than it does from low-income individuals. The United States income tax is considered progressive: in 2010, individuals who earned up to $8,375 fell into the 10% tax bracket, while individuals earning $373,650 or more fell into the 35% tax bracket. Basically, taxpayers are broken down into categories based on taxable income; the more one earns, the more taxes they will have to pay once they cross the benchmark cut-off points between the different tax bracket levels.
 
evince said:
http://en.wikipedia.org/wiki/Progressive_tax


A progressive tax is a tax in which the tax rate increases as the taxable base amount increases.[1][2][3][4][5] The term "progressive" describes a distribution effect on income or expenditure, referring to the way the rate progresses from low to high, where the average tax rate is less than the marginal tax rate.[6][7] The term can be applied to individual taxes or to a tax system as a whole; a year, multi-year, or lifetime. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability-to-pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, where the relative tax rate or burden increases as an individual's ability to pay it decreases.[5]
Click to expand...

dear moron... a flat tax with a standard deduction is both a flat tax AND progressive you fucking idiot.
 
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