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Getbig Main Boards => Politics and Political Issues Board => Topic started by: magikusar on March 19, 2012, 11:22:51 AM

Title: Why not a flat tax or fair tax? why spend 700B a year conforming to tax laws?
Post by: magikusar on March 19, 2012, 11:22:51 AM

This is big for e commerce too.

Title: Re: Why not a flat tax or fair tax? why spend 700B a year conforming to tax laws?
Post by: shootfighter1 on March 19, 2012, 12:52:14 PM

No doubt, we need a major simplification of the tax code.  We should not have to rely and pay accountants to pay taxes.  15% taxes on investments (at risk dollars) and 20% of total pay for anyone above poverty.  Stop exempting so many people and no tax shelters.
If they want to put a small additional tax on millionaires to pay for something specific, vote on it.  And don't classify millionaires tax on someone making 200K (like the Obama administration does).  Millionaires tax is someone making 1million.

Title: Re: Why not a flat tax or fair tax? why spend 700B a year conforming to tax laws?
Post by: howardroark on March 19, 2012, 12:59:27 PM

I like a Hall-Rabushka style flat tax. Taxes consumption, not income, and a deduction for the first $40,000 or so.

Title: Re: Why not a flat tax or fair tax? why spend 700B a year conforming to tax laws?
Post by: Shockwave on March 19, 2012, 01:41:37 PM

Quote from: howardroark on March 19, 2012, 12:59:27 PM

I like a Hall-Rabushka style flat tax. Taxes consumption, not income, and a deduction for the first $40,000 or so.

Never happen here, not in a million years, no matter how intelligent it is.  :-\

Title: Re: Why not a flat tax or fair tax? why spend 700B a year conforming to tax laws?
Post by: tu_holmes on March 19, 2012, 01:44:06 PM

Quote from: shootfighter1 on March 19, 2012, 12:52:14 PM

No doubt, we need a major simplification of the tax code.  We should not have to rely and pay accountants to pay taxes.  15% taxes on investments (at risk dollars) and 20% of total pay for anyone above poverty.  Stop exempting so many people and no tax shelters.
If they want to put a small additional tax on millionaires to pay for something specific, vote on it.  And don't classify millionaires tax on someone making 200K (like the Obama administration does).  Millionaires tax is someone making 1million.

I have not seen where the Obama administration puts people at 200K the same as millionaires.

http://abcnews.go.com/blogs/politics/2011/09/president-obama-to-propose-millionaires-tax-called-buffett-rule/

Seems like he specifically says "1 Million or more"

Title: Re: Why not a flat tax or fair tax? why spend 700B a year conforming to tax laws?
Post by: Shockwave on March 19, 2012, 01:48:41 PM

Quote from: tu_holmes on March 19, 2012, 01:44:06 PM

I have not seen where the Obama administration puts people at 200K the same as millionaires.

http://abcnews.go.com/blogs/politics/2011/09/president-obama-to-propose-millionaires-tax-called-buffett-rule/

Seems like he specifically says "1 Million or more"

Think it was something he proposed but got rejected?