Discussion in 'Current Events' started by American I Am, Feb 23, 2011.
YES OR NO, and Why?
As long as there are no deductions and the rich pay on everyting they earn. No capital gains exemptions, no subsidies....
Wow, I figured atleast 1 or 2 people would be interested in an across the board Flat tax.
Yep no deductions and everyone pays the same flat % on ALL personal income.
Yes, everyone bleeds the same NO exemptions or exceptions.
My exact thinking also, hmmm wonder why our Gov't won't pass law to make it that way.
Why? It would cut down some power of congress and diminish their lobbyist dollars.
YES, but only on what I term NEW INCOME, and no deductions. What I mean by "NEW INCOME" is monies that are not a return on investments you have made with monies that have already been taxed (capital gains, investments, sale of property) or monies which are given to you (gifts, bequeaths, etc...)
So far as I'm concerned the Government should only get ONE bite at the "apple" that is any particular bit of money, including the profits derived from the intelligent use of that money after it has already been taxed once.
In other words, the richest Americans should be tax exempt and the poor should pay for everything...
I do not think that was what he was saying, but not absolutely sure. I had to read it 3 times myself.
He was just stating the way it is now where you do not pay income tax on money you have in the bank just on the interest from that money type of thing.
I can sort of agree on gifts to immediate family members only if you already paid tax on it.
But an exemption for gifts to anyone else could easially be misused and people could get gifts instead of bonuses for example.
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