Progressive Taxes for Individuals | Change or No Change?

Discussion in 'Politics' started by CentristFiasco, Oct 4, 2011.

  1. CentristFiasco
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    CentristFiasco Member

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    Hey Fellow Man:

    I've been pondering on this for a while and have decided to go through a decent tax policy in terms of progressive taxes for individuals and what I figured out that our current policy for the last twenty years is so half-assed and plain ole' illogical. Have you guys felt this too? You know as an up and coming politician I've decided to create my own tax policy on the likes of progressive taxes for individuals. Take a Look at My Proposal: Progressive Change: A Federalist's Approach on Progressive Taxes. Anyway, I would like to continue this conversation with you guys and hopefully you'll take a read when you have the time.

    Petitions in the Process:

    On Change.org: Support the Balance of Progressive Taxes for Prosperity!
    On the White House's "We the People: Balance the Progressive Income Taxes for Prosperity
     
    Last edited: Oct 4, 2011
  2. uscitizen
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    uscitizen Senior Member

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    First thing is ALL personal income should be treated the same as far as taxes go.

    also I am for a pure flat personal income tax with NO deductions.
     
  3. ladyliberal
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    ladyliberal Progressive Princess

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    Well, to be honest I don't like it a bit. One thing I don't like is that I'm an incrementalist, and this is a major change. I would want to see extensive studies of impact on revenue, etc.

    However, even without extensive study, there do seem to be serious issues with the plan. Why would we want to pay Bill Gates $14 Billion to get married? I'm a little uncomfortable with the government giving tax credits for marriage in general, and this seems excessive for rich couples. And of course I don't like the fact that in a plan based otherwise only on total income, marital status, and dependent children there's a need to single out gay people as undeserving of the tax breaks of their heterosexual counterparts.
     
  4. CentristFiasco
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    CentristFiasco Member

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    Are you referring to my plan or the current tax system?
     
  5. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    You've got some pretty astronomical rates there.
    I also notice that you jump from 12% up to 24% ( a doubling of the tax rate) for a single dollar increase in salary. Who do you think would be stupid enough to accept a 5% raise knowing that their tax rate would double, thus causing them a loss of net income?
    Take it back to the drawing board, maybe even consider the same rate for everybody.
     
  6. CentristFiasco
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    CentristFiasco Member

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    Flat Rate Taxes = A Joke.

    What? A person who makes 10,000 to 100,000 a year pays 10% while a 100,001 to 1,000,000 pays 20%? Are you like Hermit Cain? 9,9,9,?
     
  7. CentristFiasco
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    CentristFiasco Member

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    Astronomical? Take a Look at the 50s Progressive Tax Rate for Individuals under Eisenhower. The Rates from 1910 to 2010.
     
  8. alan1
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    alan1 USMB Mod Staff Member Supporting Member

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    Yes, astronomical. I don't really care that it may have been more astronomical in the past.

    Now, do you want to address the jump from 12% to 24% in one fell swoop?
    Let me run the numbers for you on just one of your tax brackets.
    $70,000 income minus 12% taxes equals $61,600 net income.
    $70,000 income plus 5% raise minus 24% taxes equals $55,860 net income.

    Is your goal to keep people from ever raising their income beyond $70,000?
     
  9. CentristFiasco
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    CentristFiasco Member

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    Depends on which bracket they're part in; for instance if it's a single parent who has children who makes $70,000 then let's do the math:

    $70,000 times 8% = $5,600 (That's How Much the Government Gets)

    $5,600 minus $70,000 = $64, 400 (That's How Much the Single Parent Keeps)

    You're miscalculations are wrong, bro because that's not how you calculate taxes.
     
  10. CentristFiasco
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    CentristFiasco Member

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    Want another example?

    Let's say you're a homosexual couple and your state doesn't recognize same-sex marriages which means that each one of you are considered to be as Single (No Children) if you guys aren't allowed to adopt.

    Man 1 Makes 35,000 as a Teacher.
    Man 2 Makes 71,000 as a Claims Examiner for the Department of Labor.

    Man 1 Pays $2800 of their income to the Federal Government. He has $32,200 left.
    Man 1 Pays $17,040 of their income to the Federal Government. He has $53,960 left.

    Now, since they're in a relationship that's not recognized they both pitch to pay bills and such.

    Total Amount They Have: $86,160
     

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