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

He's a sock puppet. Russians don't have a clue about our tax system. Why are you bothering with him

 

I could get on board with this.

Ultimately, I think Jefferson had it with funding SMALL govt by taxing luxuries (goods that the wealthy purchase) and allowing the wealthy to pay in a voluntary manner.

But a flat tax would be an acceptable (fair enough) alternative.

 

those with more to lose need the stability and defense ptovided by government more than those withlittle to nothing.

a bedrock principle of capitalism (stand and salute the $) is that a commodity costs wharever the market can bear, not the "same for rich and poor alike."

 

Have you done any sort of economic assessment of your proposed 5% flat rate or did you just pluck that figure from the air?

 

Again you are wrong as many rich people do not actually pay taxes due to deductions, a 5 percent flat tax ends this and all pay fairly.

Next

 

Poor people pay nothing, and rich people pay little to nothing, 5 percent is a MAJOR HIKE for these people.

Next

Did you do an economic assessment of your post before you made it?

 

I am new to this site, and you can't form any type of argument that does not include the words sock puppet

 

Just repeal the 16th and replace it and go back to the original tax code of our Founding Fathers..

 

What was that?

 

I always wondered why the libs went after investments. It seems an odd and greedy double tax. You hit nearly 40% of the initial gain, then you want to prevent investment of what is left.

 

If the new system was a major hike, why wouldn’t the very rich continue to find way (legal and illegal) to avoid paying it, such as keeping income off-shore? Anyway, many of the relatively wealthy do pay some tax (though not necessarily proportionate to their true income) so a 5% flat rate wouldn’t necessarily be a hike at all.

And though the very wealthy account for a significant chunk of tax income, the middle income citizens account for a similar chunk in total and the 5% flat rate would be a massive cut for them and therefore a massive reduction in overall tax-take, even if the system did somehow reduce avoidance and evasion at the top.

There are basically all sorts of factors to be considered if you wish to present this as any kind of serious proposal. We’ve not even started on the impact at the low income end of eliminating all deductions (something that generally isn’t part of any other flat-tax proposal).

 

The whole idea that 50% of the country doesn't have to contribute any income tax is odd. Why do they not put even a minimal amount in the game. I've been unfortunate enough to be in this category, and I've always felt uncomfortable getting a check instead of paying a dime. I'm married, and my wife doesn't agree, but essentially I was getting a check for sucking at life. Does no one else think it is odd that the government pays people to breed? What is that about?

 

But what a about the 3 million workers at the IRS , and tax lawyers where are they going to work?

 

There are very few exceptions but yes, the majority live paycheck to paycheck because of life choices THEY have made.

You will be hard pressed to find examples of people who are so unlucky that everything in life is against them.

There will always be cases of serious injury or debilitating disease that keep someone down but most people have choices they can make.

 

They would likely be needed in the enforcement of the tax code, but their duties would be different

 

5 percent for all, no deductions. Some would leave, others would pay less, this is a major change, people could all do their own taxes or at least know what they owe ahead of time

 

I can live on.$40 bucks of food a week..


You can save money no matter how much you make


$2.50.walmart





50 cents dollar store

 

But are you also buying meth?

 

Well a zero percent rate would achieve that too. There remains the minor issue of the whole point of taxation in the first place though. If a change to the system would result in a significant drop in overall tax-take, you’d have to address how that would be dealt with.

I’ve no objection to the idea of a flat-tax system, I actually like the idea in principle, but it still needs a lot of work done of the details and practicalities to be a realistic proposal rather than a flight of fancy.

 

Not good with money I see

 

The Flat Tax is an excellent idea

Along with doing away with the unEarned Income Tax Deduction

 

The income tax should be eliminated and replaced with a flat excise tax.

 

Why is the fat chick naked?

 

The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration.

Fed could tax the States but not the individual directly.