Is It Time for Tax Reform in the United States?

Discussion in 'Politics' started by CentristFiasco, Oct 24, 2011.

  1. CentristFiasco
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    CentristFiasco Member

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    Personally, I think so and I've written a couple of letters to my Senator and Congressman earlier. I've created a petition to get the Obama Administration and I would like all of you to take a look: http://wh.gov/TB2. Is the petition worthwhile in your eyes? How is my overall reasoning in the petition text? Would you support something like this? If not, could you explain and if you aren't for tax reform, let's talk.
     
  2. Avatar4321
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    Avatar4321 Diamond Member Gold Supporting Member

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    We needed to have tax reform 100 years ago after they stupidly passed the 16th amendment.
     
  3. Ernie S.
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    Ernie S. Platinum Member

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    Hmm 1 vote so far. That's about what your poorly worded petition deserves. You make little sense. Your petition is unclear. Bush era tax cuts are overdue for what? Doubling? Tripling? Ending?
     
  4. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    I think we definitely need tax reform, but probably not what you're thinking.
     
  5. The Rabbi
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    The Rabbi Diamond Member

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    No.
    It is way past time for tax reform. Past time in the sense that the tax code creates a few winners and many losers. And the few winners have every incentive to keep it that way. If the purpose of the code was to raise revenue, we could all get on board with that. But it isnt. It's purpose is to promote social policy through a bizarre series of incentives.
    Scrap the whole thing.
     
  6. LordBrownTrout
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    LordBrownTrout Gold Member

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    Yeah, of course we do but currently our govt is addicted to endless wars, social utopian dreams/engineering, and other assorted alice in wonderland fairy tales so we get to continue to pay for their cyborg gone awry adventures. Hopefully, the currency printing presses will break.
     
  7. Epsilon Delta
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    Epsilon Delta Jedi Master

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    The US tax system, along with several other countries', is in some serious need of reform. Any serious attempt to solve it, though, has to take into account the twin goals of 1) raise the amount of revenue collected in order to tame growing deficits while 2) simultaneously easening the burden on the poor and middle classes (which I consider the 90% under $200,000 yearly income), on whose consumption rests the well-being of the vast majority of the economy.

    Here some of what I would do to it:

    - Temporary 2-year reduction in the corporate tax rate to 28% (rom 35%), simultaneously cutting loopholes and tax breaks for corporations and high-earners.
    - Temporary 2-year extension of the Bush tax cuts for those making under $250,000 a year.
    - Temporary 1-year reduction of the payroll tax for those earning under $100,000.
    - Eliminate the ceiling for the payroll tax in line with inflation - from ~$106,000 to $180,000
    - Institute a 5% tax on incomes above $1,000,000 (the top 0.1%).
    - Evaporate the Bush tax cuts for incomes over $250,000 a year.
    - Return to Clinton-era capital gains taxes (estates worth >$1,000,000).
     
  8. editec
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    editec Mr. Forgot-it-All

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    I am NOT for tax reform, NOW.

    Reducing the amount of money circulating in this feeble economy is a very stupid thing to do.

    It's stupid if when the DEMs propose it with tax increases, and it is stupid when the REPs propose it by cutting spending.

    We do need tax and spending reforms...but not right now.
     
  9. pgm
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    pgm Member

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    This tax code desperately needs reform. It's one of the biggest sources of corruption and hidden giveaways in politics. It's one of the biggest (if not the biggest) and most complex tax codes in the industrial world. I'm not saying scrap it and start over, but make a plan to gradually scrap it and start over. I don't like a flat tax, but I'm not opposed to it. It's the same as a national sales tax or value-added tax. You'd have to ease into it, though. You can't just jump into a 20% increase in tax on half of this country.
     
  10. Mr Clean
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    Mr Clean Gold Member

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    We had tax reform back in 1986 and things have been going in the shitter ever since.
     

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