2017 Tax Reform

[P@triot]

Any reasonable, rational person would agree that we should have a universal flat tax. It’s sad that we can’t overhaul our entire idiotic tax code because some people are greedy and fear a drop off of revenue to the federal government (and thus a drop off in what they receive).

The fact is, eliminating all tax write-offs and loopholes would increase revenues to the government. The wealthy would not be able to hire tax attorneys to hide money in tax shelters. The poor would not have to spend money they can’t afford to spend on CPA’s because filing taxes is too complex. It’s a win-win on all fronts.

We should start off with a 10% flat income tax and a 25% flat corporate tax. No tax exemptions (period). In addition, we should add a consumption tax in order to capture some tax dollars lost by criminals who engage in cash only transactions (drugs, prostitution, gambling, etc.). They still have to purchase clothing, personal hygiene items, etc. and we can close that gap with a consumption tax.

It's Time to Reform Our Tax Code. Let's Do Something Historic.

 

[ScienceRocks]

Weird, I thought Trump was going to punish these goddamn rich fuckers for outsourcing our industry to Mexico and China. Come to find out Trump turned out to be the snake he was talking about and is about ready to suck the traitors dicks.

Patriot you really are a clown.

 

[P@triot]

Weird, I thought Trump was going to punish these goddamn rich fuckers for outsourcing our industry to Mexico and China. Come to find out Trump turned out to be the snake he was talking about and is about ready to suck the traitors dicks.

The mindset of the (mindless) progressive. Being successful is “evil” and should be punished.

 

[BulletProof]

Any reasonable, rational person would agree that we should have a universal flat tax. It’s sad that we can’t overhaul our entire idiotic tax code because some people are greedy and fear a drop off of revenue to the federal government (and thus a drop off in what they receive).

The fact is, eliminating all tax write-offs and loopholes would increase revenues to the government. The wealthy would not be able to hire tax attorneys to hide money in tax shelters. The poor would not have to spend money they can’t afford to spend on CPA’s because filing taxes is too complex. It’s a win-win on all fronts.

We should start off with a 10% flat income tax and a 25% flat corporate tax. No tax exemptions (period). In addition, we should add a consumption tax in order to capture some tax dollars lost by criminals who engage in cash only transactions (drugs, prostitution, gambling, etc.). They still have to purchase clothing, personal hygiene items, etc. and we can close that gap with a consumption tax.

It's Time to Reform Our Tax Code. Let's Do Something Historic.

It's time once again for the Republicans to prove they are worthless and have stupid ideas.

No rational person supports a flat tax. That means tax cuts for the under-taxed rich, regardless of your fantasies about ending deductions. And, a flat tax and increased sales tax would mean tax increases for workers and the poor, requiring an increase in welfare. There're hardly a more anti-conservative idea of increasing both the government burden on the poor and government welfare.

 

[P@triot]

No rational person supports a flat tax.

Every rational, reasonable person supports a flat tax (which immediately eliminates the left, of course).

That means tax cuts for the under-taxed rich, regardless of your fantasies about ending deductions.

No it doesn’t. You have no idea what a flat tax is (clearly) and yet your commenting on it.

And, a flat tax and increased sales tax would mean tax increases for workers and the poor, requiring an increase in welfare.

(Please....for the love of God...Research this topic before coming back and commenting)

 

[P@triot]

That means tax cuts for the under-taxed rich

More astounding ignorance from the left. The top 10% earned 38% of the wealth, yet paid a ridiculous 53% of all federal taxes.

 

[BulletProof]

Cue the neoconed UIs to defend the Rich on taxes.

P@triot, why don't you find a chart that shows the tax burden of people after tax benefits for children are excluded. Why does it matter? Because you're using tax welfare to bias the chart to make the rich look more heavily taxed. At the very least, not all the working poor have kids.

Second, the "earnings" of the top 1% is bullsh1t. Their earnings are much greater than what's reported on tax returns. They receive a great deal of company benefits that goes unreported, like a luxury company car, a family vacation in Hawaii for a "business trip", a fat 401K, and gold-plated health insurance.

 

[my2¢]

We should start off with a 10% flat income tax and a 25% flat corporate tax.

Getting down to brass tracks, at what (if any) personal income tax rate would be your breaking point on any flat tax?

In last few years the feds have been taking just over 18% of the wife's and my combined income. I'll be retired over the complete year in 2018 and so the feds take should come down to just below 14% next tax year. I suppose that'll go up when I start taking Social Security when I turn 66 in 3 years. I'd give them 10% in a heartbeat.

 

[my2¢]

That means tax cuts for the under-taxed rich

More astounding ignorance from the left. The top 10% earned 38% of the wealth, yet paid a ridiculous 53% of all federal taxes.

View attachment 154808

I've always questioned those figures. I assume (and I know what they say about assumptions) that the figures they have available are based on taxable income. Thus I'm unsure how ridiculous that 53% is? We common folks have no say in what congress declares as taxable income.

Likewise when the rich say the estate tax is double taxation. But that isn't necessarily the case because of the difference between wealth and income.

 

[P@triot]

We should start off with a 10% flat income tax and a 25% flat corporate tax.

Getting down to brass tracks, at what (if any) personal income tax rate would be your breaking point on any flat tax?

In last few years the feds have been taking just over 18% of the wife's and my combined income. I'll be retired over the complete year in 2018 and so the feds take should come down to just below 14% next tax year. I suppose that'll go up when I start taking Social Security when I turn 66 in 3 years. I'd give them 10% in a heartbeat.

I’m not entirely sure what you mean by my “breaking point”. Are you talking low or high? I currently pay around 34% in just federal taxes. I find that criminal - especially considering that I still have state, local, property, sales, gas, and more in taxes. I’m easily dropping 65% in taxes.

I think 20% federal income is outrageous but I would deal with it. Ideally, it should be 10% for individuals and 25% for corporations. Eliminate all deductions and add a consumption tax.

 

[BulletProof]

Likewise when the rich say the estate tax is double taxation. But that isn't necessarily the case because of the difference between wealth and income.

Regardless of claims of the ignorant neoconned f1cktards on the Right, the estate tax plays the role of a capital gains tax and there is no double taxation.

 

[ScienceRocks]

It is so weird how Trump won on the idea that he was going to tax the shit out of these assholes and tarrif them big time. He used Bernies ideas on trade but yet since he has won he only fills the swamp up high!!!!!! He wants to reward the fucking cheats and traitors.

And you liars and blind fools eat it up like it is chum.

 

[P@triot]

At the very least, not all the working poor have kids.

Well that is idiotic. Not all working wealthy have children.

And do you not realize that not having children results in a higher tax burden? Which means that would make it appear as though the lower class were paying even more?

 

[P@triot]

Second, the "earnings" of the top 1% is bullsh1t. Their earnings are much greater than what's reported on tax returns. They receive a great deal of company benefits that goes unreported, like a luxury company car, a family vacation in Hawaii for a "business trip", a fat 401K, and gold-plated health insurance.

Snowflake....a vacation to Hawaii does nothing to drive up their wealth. That doesn’t put food on their table. They can’t leave it to their children. So their actual earning are accurate.

You sound like just another bitter, envious progressive. Sad.

 

[P@triot]

Regardless of claims of the ignorant neoconned f1cktards on the Right, the estate tax plays the role of a capital gains tax and there is no double taxation.

It is a double taxation, you poor, uneducated, dimwit. The wealth used to purchase everything that is a part of that estate was already taxed.

My god are you a greedy little parasite. You just won’t be happy until you can get your grubby little hands on everyone else's money.

 

[BulletProof]

And do you not realize that not having children results in a higher tax burden? Which means that would make it appear as though the lower class were paying even more?

Why do you need obvious things pointed out to to you? Do you know nothing about what you're talking about? Children have practically no impact on the tax returns of the rich. But, for the poor, children make a huge difference.

.a vacation to Hawaii does nothing to drive up their wealth. That doesn’t put food on their table. They can’t leave it to their children. So their actual earning are accurate.

You were speaking of income vs. taxes. A "business" vacation to Hawaii is income, but just not counted as income. (The cost of a business trip to Hawaii is counted as income, if an employee pays for it out-of-pocket.)

If you want to get into tax rate vs. wealth, then the rich are super under-taxed. Slither away and learn something.

 

[BulletProof]

It is a double taxation, you poor, uneducated, dimwit. The wealth used to purchase everything that is a part of that estate was already taxed.

Brainless twit, the capital gains of an estate have never been taxed.

 

[my2¢]

We should start off with a 10% flat income tax and a 25% flat corporate tax.

Getting down to brass tracks, at what (if any) personal income tax rate would be your breaking point on any flat tax?

In last few years the feds have been taking just over 18% of the wife's and my combined income. I'll be retired over the complete year in 2018 and so the feds take should come down to just below 14% next tax year. I suppose that'll go up when I start taking Social Security when I turn 66 in 3 years. I'd give them 10% in a heartbeat.

I’m not entirely sure what you mean by my “breaking point”. Are you talking low or high? I currently pay around 34% in just federal taxes. I find that criminal - especially considering that I still have state, local, property, sales, gas, and more in taxes. I’m easily dropping 65% in taxes.

I think 20% federal income is outrageous but I would deal with it. Ideally, it should be 10% for individuals and 25% for corporations. Eliminate all deductions and add a consumption tax.

Wow 34%, to accomplish that you must be hauling in at least $821,000 if single, even more if married. Congratulations.

In your situation EVEN a Flat Tax rate of 30% would save you a good bit of money. For me and a vast number of Americans that 30% would be a hefty increase. My upper bound for a Flat Tax would be 12.5%, after that I'd join the masses in tossing the politicians out.

 

[The Original Tree]

The GOP will not get Tax Reform done. Someone will have a mystery illness and not be able to vote. Or one of the GOP members will find some "principled reason" to vote with The Democrats.

And to make for good political drama, Mitch McConnel will come out again, and tell America they missed it by ONE VOTE.

You know, cuz missing it by ONE VOTE might just be enough to get them a pass on not being booted out of office while continuing the Status Quo for THE ESTABLISHMENT.

 

[sealybobo]

Weird, I thought Trump was going to punish these goddamn rich fuckers for outsourcing our industry to Mexico and China. Come to find out Trump turned out to be the snake he was talking about and is about ready to suck the traitors dicks.

Patriot you really are a clown.

Protect the Estate Tax - Patriotic Millionaires