A Choice in Tax Codes?

[AVG-JOE]

Big John wants to give us two choices in tax codes. One would be similar to the current one, with deductions and etc. The other one would not.

Does anyone know if the other one would be like a flat tax or what?

Do we want to have to read two separate tax codes to determine which one would be best? This sounds like abuse by the wealthy waiting to happen!

-Joe

 

[oreo]

Big John wants to give us two choices in tax codes. One would be similar to the current one, with deductions and etc. The other one would not.

Does anyone know if the other one would be like a flat tax or what?

Do we want to have to read two separate tax codes to determine which one would be best? This sounds like abuse by the wealthy waiting to happen!

-Joe

No, not necessarily. It's possible, a fair tax rate would be much better for us, the average Joe. The wealthy in the country would pay a tax on their purchases. Well if they're buying yaughtes & airplanes they pay tax. Obviously, our purchases are going to be much smaller, therefore we are taxed less.

Many have called for this over the decades to help the lower income & the middle class in this country.

What is facinating to me-is Obama says he will give 95% of Americans a tax cut. However, only 60% in this country pays federal income tax in the first place.

 

[AVG-JOE]

No, not necessarily. It's possible, a fair tax rate would be much better for us, the average Joe. The wealthy in the country would pay a tax on their purchases. Well if they're buying yaughtes & airplanes they pay tax. Obviously, our purchases are going to be much smaller, therefore we are taxed less.

Many have called for this over the decades to help the lower income & the middle class in this country.

It sounds like you are talking about the most fair method of taxation known to man. Sales tax. If you can afford a Ferrari, you pay Ferrari tax, if your checkbook dictates a 13 year old Hyundai you pay tax on 2 quarts of oil per month.

What is facinating to me-is Obama says he will give 95% of Americans a tax cut. However, only 60% in this country pays federal income tax in the first place.

Didn't he say '95% of taxpayers'?

-Joe

 

[pegwinn]

McCain was discussing two different income tax structures. The current one, and a simplified one with fewer brackets.

The national sales tax bill is called the fairtax it is listed on thomas as H.R. 25

McCains rhetoric is doubletalk.

 

[jreeves]

It sounds like you are talking about the most fair method of taxation known to man. Sales tax. If you can afford a Ferrari, you pay Ferrari tax, if your checkbook dictates a 13 year old Hyundai you pay tax on 2 quarts of oil per month.



Didn't he say '95% of taxpayers'?

-Joe

This is his position...
Media Matters - 60 Minutes called Obama's -- but not McCain's -- economic agenda "expensive," even though McCain's is reportedly more so
OBAMA: Right. They're wrong. And I think they're being deliberately misleading. Under my tax plan, 95 percent of American workers would get a tax cut -- 95 percent. If you are making less than $250,000, you would not see a single dime of tax increase -- not on anything. And --

 

[pegwinn]

Neither candidate is telling the full truth.

Presidents only sign the changes to the tax code. They cannot make them. So with a bully pulpit the best they can hope for is to influence the congress into legislating his campaign promise.

Obama might get what he asks for. McCain will not if the Dem faction is still in control.

Instead, scrap the internal revenue code, repeal the 16th Amendment, and enact the fairtax. Contact your rep and ask specifically why he or she is not a co-sponsor. The only honest answer is that he or she is a crook who benifits personally from the current tax code.

 

[AVG-JOE]

This is his position...
Media Matters - 60 Minutes called Obama's -- but not McCain's -- economic agenda "expensive," even though McCain's is reportedly more so
OBAMA: Right. They're wrong. And I think they're being deliberately misleading. Under my tax plan, 95 percent of American workers would get a tax cut -- 95 percent. If you are making less than $250,000, you would not see a single dime of tax increase -- not on anything. And --

To me "workers" implies taxpayers. My opinion.

-Joe

 

[jreeves]

To me "workers" implies taxpayers. My opinion.

-Joe

You are absolutely wrong....
It?s easier than ever to find out if you qualify for EITC
The Earned Income Tax Credit (EITC) sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.

To qualify, taxpayers must meet certain requirements and file a tax return, even if they did not earn enough money to be obligated to file a tax return.

The EITC has no effect on certain welfare benefits. In most cases, EITC payments will not be used to determine eligibility for Medicaid, Supplemental Security Income (SSI), food stamps, low-income housing or most Temporary Assistance for Needy Families (TANF) payments.

 

[AVG-JOE]

You are absolutely wrong....
It?s easier than ever to find out if you qualify for EITC
The Earned Income Tax Credit (EITC) sometimes called the Earned Income Credit (EIC), is a refundable federal income tax credit for low-income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When the EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.

To qualify, taxpayers must meet certain requirements and file a tax return, even if they did not earn enough money to be obligated to file a tax return.

The EITC has no effect on certain welfare benefits. In most cases, EITC payments will not be used to determine eligibility for Medicaid, Supplemental Security Income (SSI), food stamps, low-income housing or most Temporary Assistance for Needy Families (TANF) payments.

I said my opinion. Do you need more proof than this board that people are entitled to opinions that are, in your opinion, wrong?

-Joe

 

[jreeves]

I said my opinion. Do you need more proof than this board that people are entitled to opinions that are, in your opinion, wrong?

-Joe

Ok let me restate my comment then, I apoligize. You are not wrong, your opinion is flawed.....Sorry