Toro
Diamond Member
Oh, I'd keep corporate tax rates low, 10%-15% tops. But I'd close down all these international loopholes companies use.
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BTW an across-the-board VAT is far more regressive than an across-the-board flat tax.
Isn't it amazing that so many poters think 10% - 15% is enough to run a government - and yet can not find a single place and time where it has ever worked.
Weird.
BTW an across-the-board VAT is far more regressive than an across-the-board flat tax.
It is, but it is also so essential that I believe the US i now the only develped country without one.
That bite from the shadow economy is worth BILLIONS.
The GOP should be pushing it for all they're worth.
Who cares???
10% is plenty of money to run the gov't and protect the people... Everything else is just poorly spent money. What does the gov't do better than the private sector?
Unfortunately no country in the world has ever been foolih enough to try the idea, and I think most of us undertand why not.
The US would be bankrupt within a month.
OK, we'd all like to pay 0%, but what tax rates do you think would be fair - and sustainable?
For simplicity, I've broken it down here into these main categories:
Low income 20%
Middle income 27.5%
High income 35%
Corporate tax 30%
VAT 15%
Tax on dividends & shares 25%
Any other major tax categories needed?
My plan is to raise income for the state with a VAT, which will hit the shadow economy and mean even drug dealers are paying some tax.
With that extra income I can then trim corporate taxes.
Feel free to add more details in - I did this very quickly!
Isn't it amazing that so many poters think 10% - 15% is enough to run a government - and yet can not find a single place and time where it has ever worked.
Weird.
It worked throughout the 19th century.
Throughout history, there have only been two centuries when there have been any meaningful increase in per capita GDP - the 19th and the 20th. (It's happening in the 21st century too, but we'll wait until the end of it before making any grand proclamations.) Through most of this time, taxes in the rich and growing nations were between 5% and 20% of GDP. It is only around WWII and the creation of the vast, expansive welfare state has this not been true.
Spoken like a true European.
People don't like taxes here. No, they REALLY don't like taxes. I've lived and traveled extensively in Europe, and it's not the same. In Canada - which is US-lite - when the Tories implemented the GST, a Canadian VAT, it lead to the unprecedented destruction of the ruling Tory party. If that was the reaction in Canada, where they are more tolerant of taxes, a national VAT is absolutely toxic in the US. I can't ever see it happening.
Flat tax across the board...
OK, we'd all like to pay 0%, but what tax rates do you think would be fair - and sustainable?
For simplicity, I've broken it down here into these main categories:
Low income 20%
Middle income 27.5%
High income 35%
Corporate tax 30%
VAT 15%
Tax on dividends & shares 25%
Any other major tax categories needed?
My plan is to raise income for the state with a VAT, which will hit the shadow economy and mean even drug dealers are paying some tax.
With that extra income I can then trim corporate taxes.
Feel free to add more details in - I did this very quickly!
I only know a couple of things about it
1) Reagan began to borrow from foreign banks to finance tax cuts for the wealthy. He and Bush 41 quadrupled the national debt from less than $1 trillion to more than $4 trillion. George Bush came along in 2001, cut taxes twice and doubled the national debt again...from $5.7 trillion to nearly $12 trillion.
2) In the past this nation has pulled together and met any challenge it has faced. After the second world war we had massive debts and anyone who made more than $300,000 per year paid 91% of the excess in federal income tax...under one Republican president I might add.
Right now this country is more divided than at any time during my 78 years. The rich keep getting richer and even though tax rates are at the lowest levels they've been in forty years the conservatives want more tax cuts. I have a question for them. If low taxes create more jobs where the fuck are they?
Listen Closely!
TRICKLE DOWN DOESN'T WORK!
Isn't it amazing that so many poters think 10% - 15% is enough to run a government - and yet can not find a single place and time where it has ever worked.
Weird.
It worked throughout the 19th century.
Throughout history, there have only been two centuries when there have been any meaningful increase in per capita GDP - the 19th and the 20th. (It's happening in the 21st century too, but we'll wait until the end of it before making any grand proclamations.) Through most of this time, taxes in the rich and growing nations were between 5% and 20% of GDP. It is only around WWII and the creation of the vast, expansive welfare state has this not been true.
You can't run the government on 10% and be the worlds policeman with defense consuming 6-7% of GDP. Unfortunately many Republicans irrationally want to have it both ways. Say what you will about Ron Paul but at least he is honest.
Flat tax across the board...
10 percent of all income regardless of the source no deductions no exceptions.
We would see a net gain in revenue and a huge savings by gutting the irs
That's perfect.Isn't it amazing that so many poters think 10% - 15% is enough to run a government - and yet can not find a single place and time where it has ever worked.
Weird.
It worked throughout the 19th century.
Throughout history, there have only been two centuries when there have been any meaningful increase in per capita GDP - the 19th and the 20th. (It's happening in the 21st century too, but we'll wait until the end of it before making any grand proclamations.) Through most of this time, taxes in the rich and growing nations were between 5% and 20% of GDP. It is only around WWII and the creation of the vast, expansive welfare state has this not been true.
You can't run the government on 10% and be the worlds policeman with defense consuming 6-7% of GDP.
And Gary Jonson.Unfortunately many Republicans irrationally want to have it both ways. Say what you will about Ron Paul but at least he is honest.
OK, we'd all like to pay 0%, but what tax rates do you think would be fair - and sustainable?
For simplicity, I've broken it down here into these main categories:
Low income 20%
Middle income 27.5%
High income 35%
Corporate tax 30%
VAT 15%
Tax on dividends & shares 25%
Any other major tax categories needed?
My plan is to raise income for the state with a VAT, which will hit the shadow economy and mean even drug dealers are paying some tax.
With that extra income I can then trim corporate taxes.
Feel free to add more details in - I did this very quickly!
A fair tax schedule is one that does not burden the national economy unfairly or without solid justifrication for it in the first place.
There are no hard and fast numbers, the rate truly depends on the state of the nation at the time.
Do remember that even the highest rates are NOT placed on every dollar, but only those dollars that are in the next hihger rate of taxation.
EVeryone actually pays the EXACT same rates of taxes, but everyone's incomes' do not all get taxed at EVERY rate of taxation that the schedule has because everyone does not make enough money for THOSE ADDIONAL DOLLARS to be taxed.
The facts are that whatever is published for tax rates is a joke. When a bastard can inheirit money, invest it in equities or municipal bonds and end up paying 14% on $14 million of earnings when my wife and I pay 16% on about $80,000 is some kind of weird scam. Add to that our local and state taxes which would be a pittance for a rich person and we...WE are the ones paying the bills.
OK, we'd all like to pay 0%, but what tax rates do you think would be fair - and sustainable?
For simplicity, I've broken it down here into these main categories:
Low income 20%
Middle income 27.5%
High income 35%
Corporate tax 30%
VAT 15%
Tax on dividends & shares 25%
Any other major tax categories needed?
My plan is to raise income for the state with a VAT, which will hit the shadow economy and mean even drug dealers are paying some tax.
With that extra income I can then trim corporate taxes.
Feel free to add more details in - I did this very quickly!
A fair tax schedule is one that does not burden the national economy unfairly or without solid justifrication for it in the first place.
There are no hard and fast numbers, the rate truly depends on the state of the nation at the time.
Do remember that even the highest rates are NOT placed on every dollar, but only those dollars that are in the next hihger rate of taxation.
EVeryone actually pays the EXACT same rates of taxes, but everyone's incomes' do not all get taxed at EVERY rate of taxation that the schedule has because everyone does not make enough money for THOSE ADDIONAL DOLLARS to be taxed.
The facts are that whatever is published for tax rates is a joke. When a bastard can inheirit money, invest it in equities or municipal bonds and end up paying 14% on $14 million of earnings when my wife and I pay 16% on about $80,000 is some kind of weird scam. Add to that our local and state taxes which would be a pittance for a rich person and we...WE are the ones paying the bills.
It worked throughout the 19th century.
Throughout history, there have only been two centuries when there have been any meaningful increase in per capita GDP - the 19th and the 20th. (It's happening in the 21st century too, but we'll wait until the end of it before making any grand proclamations.) Through most of this time, taxes in the rich and growing nations were between 5% and 20% of GDP. It is only around WWII and the creation of the vast, expansive welfare state has this not been true.
You can't run the government on 10% and be the worlds policeman with defense consuming 6-7% of GDP. Unfortunately many Republicans irrationally want to have it both ways. Say what you will about Ron Paul but at least he is honest.
I'm not saying we should. I'm saying that it has been done.
Before we can decide on a tax %, we need to decide just what the governments job is. I think the government has four jobs. 1) represent the USA on the world stage. 2) coin money. 3) protect our borders (military). 4) maintain a equal playing field for every citizen (supreme court). Of course there are operating costs to go along with this, salaries of gov't employees and such. Once we find out how much all of this costs we set the tax rate accordingly. Set tax to a flat rate no deductions to cover the costs.
Government employees, to include senators and representatives, should be paid what the average income for their district is. Readjusted every term. If the people in your district get an increase in their salaries you get a raise, if they go down you loose income right along with them. That is fair.
Before touching social security and medicare / medicade, we need to do away with all the non essentials. Non essentials being overseas military bases (except Germany). Lowering salaries of government employees to above standards. There are so many others to list, but you get the idea. Remove the federal government and replace it with state government, I believe our state taxes should be higher than our federal taxes anyway.