Flat Tax

[Moi]

I definitely think this should be put into law...only not as an option. Flat tax should be the way to go.

http://www.theorator.com/bills108/hr1783.html

 

[Aquarian]

very interesting, I'd definitely like to see a flat tax tried.

 

[5stringJeff]

Agreed... a flat tax (meaning the same percentage for everyone, not the same amount) is the only truly fair way to tax people's income.

 

[tybalt]

`(c) BUSINESS TAXABLE INCOME- For purposes of this section--

`(1) IN GENERAL- The term `business taxable income' means gross active income reduced by the deductions specified in subsection (d).

`(d) DEDUCTIONS
`(1) IN GENERAL- The deductions specified in this subsection are--
`(A) the cost of business inputs for the business activity,

`(A) IN GENERAL- For purposes of paragraph (1), the term `cost of business inputs' means--

`(i) the amount paid for property sold or used in connection with a business activity

Guess what? All the rich Republicans will write off their SUVs, mansions, yaughts, and jets as "business expenses." It will also stifle the economy as it penalizes honest people who spend.

 

[Moi]

Originally posted by tybalt
`(c) BUSINESS TAXABLE INCOME- For purposes of this section--

`(1) IN GENERAL- The term `business taxable income' means gross active income reduced by the deductions specified in subsection (d).

`(d) DEDUCTIONS
`(1) IN GENERAL- The deductions specified in this subsection are--
`(A) the cost of business inputs for the business activity,

`(A) IN GENERAL- For purposes of paragraph (1), the term `cost of business inputs' means--

`(i) the amount paid for property sold or used in connection with a business activity

Guess what? All the rich Republicans will write off their SUVs, mansions, yaughts, and jets as "business expenses." It will also stifle the economy as it penalizes honest people who spend.

Very little of this post made any sense to me. Especially where it states that "all the rich republicans will write off their..." Are you actually going to pretend that ony rich republicans take advantage of the tax deductions afforded to them? Puh-lease. I don't see any liberal celebrities failing to take advantage of tax deductions or any low or middle class families giving Uncle Sam back the child care credits that President Bush gave them. I'm pretty sure that the democrats haven't given back any of their refunds either!

 

[MtnBiker]

Originally posted by tybalt
It will also stifle the economy as it penalizes honest people who spend.

How does a flat INCOME tax penalize spending?

 

[tybalt]

Sorry, My mistake. I had the proposed National Sales Tax script open.