How to fix the tax code fairly............everyone pays 5 percent

Yup a flat tax would eliminate the IRS, and simplify everything to a base level. If you make a billion dollars you pay 5 percent and if you make ten thousand you also pay 5 percent.

The poor will cry when their welfare benefits are taxed.

Too bad, 5 for all

 

Works for me.

 

A $500 tax bill for someone who lives paycheck to paycheck...

... is a far greater burden...

... than a $50,000 tax bill...

... who has the discretionary income to afford it.

 

Maybe they shouldn't live paycheck to paycheck then.

That's not the governments fault, that is their choice.

 

I also like a flat tax. The problem is every person who has advocated such a plan and had it evaluated fairly comes out to more like 15% being needed for the flat tax to work. That would mean a 50% tax increase for some of the poorest people in the country, so it’ll mever happen. Not to mention the issues it would create with various current tax breaks.

 

If we are equal, we should pay equal prices. Can a store charge more for goods to a rich person than a poor one?

5 percent would be fine and you just made up your stat because many rich people pay no taxes at all, so stop making up nonsense as you go

 

Do you really think that applying the marginal tax rate is the most complicated thing the IRS does? A 5% flat tax would do very little to uncomplicate the tax code.

 

A 5 percent tax would be the tax code, no exemptions no nothing. No brackets, 5 percent for all, the rich would all pay, as would the poor.

 

So how much should we call required before we atart taxing? Maybe we can exempt the first 40k someone earns. No joint returns, everyone that makes money is treated the same.

 

Actually it would make individual taxes immencely easy.

 

Do you understand that there are thousands of pages in the tax code regarding what constitutes income?

What about investments. Someone puts in $1,000 and gets back $2,000. Based on your simplified tax code, he's taxed on the $2,000 when he should only be taxed for $1,000.

There are countless more examples like this. The tax code is way more complicated than you realize. And much of that complication is unfortunately necessary.

 

5 percent of all income earned in a year, my stock sells would still be charged at a 5 percent rate the only change would be that foodstamps and welfare are taxed as income.

 

TheDonald would keep all corporate welfare such as the multiple billions made by the military industrial complex and the trillions sheltered overseas in corporate welfare accounts.

I say the exact opposite so do all real patriots.

 

5 percent for all

 

... only after eliminating all the tax free welfare the elites have gotten

 

Nice try. A revenue neutral flat tax would have to be about 17%. A huge tax break for the rich and a huge increase for nearly everyone else

 

Many rich pay no tax at all, so how is 5 percent not more than nothing?

Next

 

Yea...people do that because they want to...right

How's the air on your planet?

 

So you want an effective AMT...fine.

 

Here is what your taxes pay for, and yes this is her choice

 

Republican welfare queen:

 

I see the sock puppet is doing his thing

 

Exactly

 

An astonishing amount of global private financial wealth—$21 to $32 trillion as of 2010—has been invested virtually tax free through the world's black hole of secret tax havens.


http://www.newsweek.com/panama-papers-top-ten-tax-havens-where-money-hidden-444512




it is time for these welfare queens to pay their share of taxes

 

Wrong. Nothing was made up and I would encourage anyone who talks about taxes a do some research so they don’t look foolish.

https://www.politico.com/story/2016/01/ben-carson-flat-tax-plan-217320
http://www.crfb.org/blogs/senator-rand-paul-releases-flat-tax-plan-0
https://www.brookings.edu/opinions/flat-tax-impact-on-saving-and-the-economy/
http://www.american.edu/spa/publicpurpose/upload/2011-public-purpose-flat-tax.pdf
https://budgeting.thenest.com/problems-flat-tax-24710.html

Besides, a Flat tax of 5% would give the govt $624B in income tax revenue, they currently make about $1.6T. Where you going to make up the difference? Or you just going to take the $1T in the pants?