Should The Rich Be Required To Pay Higher Taxes In the US?

[SAYIT]

So taxpayers keep more of their money than government loses. Win-win!!!

More of their money? Sure, EXCEPT Ronnie just ran up the credit card! You teach your kids to do that crap too? Moron

Snide, stupid and arrogant! Yup, you're obviously a full-fledged a loony leftist.

 

[Dad2three]

As I stated, Republicans participated in all this, but were not the creators. Democrats started this mess. Now if you want to post one-sided stories, I can do the same if you'd like. I have dozens of them in my Housing Collapse folder if you'd like to take a look at.

YOUR inability to refute FACTS are noted Bubs

"Facts" from ThinkProgress.org, FactLeft.com, AmericansForTaxFairness, and WorkersParadise.com are suspect at best and a kind of loony leftist lunacy at worst.
You're a 1-trick propaganda robot, Princess, and considering how little positive response you get here, not a very good one.

 

[Dad2three]

So taxpayers keep more of their money than government loses. Win-win!!!

More of their money? Sure, EXCEPT Ronnie just ran up the credit card! You teach your kids to do that crap too? Moron

Snide, stupid and arrogant! Yup, you're obviously a full-fledged a loony leftist.

So NO, you can't refute FACTS. Got it

 

[boedicca]

If it bothers you to have a complex tax code, the solution is quite simple: A low fair flat rate tax that applied to everyone.

Easy Peasy Lemon Squeezy!

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

 

[SAYIT]

As I stated, Republicans participated in all this, but were not the creators. Democrats started this mess. Now if you want to post one-sided stories, I can do the same if you'd like. I have dozens of them in my Housing Collapse folder if you'd like to take a look at.

YOUR inability to refute FACTS are noted Bubs

"Facts" from ThinkProgress.org, FactLeft.com, AmericansForTaxFairness, and WorkersParadise.com are suspect at best and a kind of loony leftist lunacy at worst.
You're a 1-trick propaganda robot, Princess, and considering how little positive response you get here, not a very good one.

Gee, I'm so surprised you would have "ridicule retort" in your stash. My guess is you keep it close by as you probably need to use it regularly. You seem to think others are required to take you and your Socialists-R-Us.com silliness seriously you arrogant twit but here's the 4-1-1 ... you're not nearly as sharp as you want or need to believe.

 

[boedicca]

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

is there a rate that will pay for everything the Left is promising? would that 91% do the trick genius??

If you tax 100%, that should take care of the government's appetite for about one year.


Feed Your Family on $10 Billion a Day

 

[Dad2three]

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

LIKE THIS:


EFFECTIVE TAX RATES

 

[Dad2three]

As I stated, Republicans participated in all this, but were not the creators. Democrats started this mess. Now if you want to post one-sided stories, I can do the same if you'd like. I have dozens of them in my Housing Collapse folder if you'd like to take a look at.

YOUR inability to refute FACTS are noted Bubs

"Facts" from ThinkProgress.org, FactLeft.com, AmericansForTaxFairness, and WorkersParadise.com are suspect at best and a kind of loony leftist lunacy at worst.
You're a 1-trick propaganda robot, Princess, and considering how little positive response you get here, not a very good one.

Gee, I'm so surprised you would have "ridicule retort" in your stash. My guess is you keep it close by as you probably need to use it regularly. You seem to think others are required to take you and your Socialists-R-Us.com silliness seriously you arrogant twit but here's the 4-1-1 ... you're not nearly as sharp as you want or need to believe.

 

[Dad2three]

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

is there a rate that will pay for everything the Left is promising? would that 91% do the trick genius??

If you tax 100%, that should take care of the government's appetite for about one year.


Feed Your Family on $10 Billion a Day

Or we could just go back to tax rates where 0he middle class grew AND the EFFECTIVE tax rates WERE MUCH GREATER. What did we do with that money? Oh yeah, fought and nearly paid off ALL WW2 war debt, built the interstate system, thousands of schools, bridges and other infrastructure!

 

[boedicca]

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

LIKE THIS:


EFFECTIVE TAX RATES

Which means absolutely nothing other than that you found a bogus chart that agrees with your worldview.

Take a look at tax receipts as a percent of GDP - that tells a more revealing story. But I bet your won't understand why.

 

[Dad2three]

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

LIKE THIS:


EFFECTIVE TAX RATES

Which means absolutely nothing other than that you found a bogus chart that agrees with your worldview.

Take a look at tax receipts as a percent of GDP - that tells a more revealing story. But I bet your won't understand why.

Sure Bubba, you want to cherry pick AND not accept the tax burden WAS pushed to the middle class AS the Norquista's shifted the burden from those "job creators" right?

Yep, percent of GDP IS how economists measure the tax burden, BUT the tax burden on the top 1% hasn't been this low since BEFORE Harding/Coolidge great depression. Weird right?



Hint Ronnie GUTTED tax revenues AS he cut taxes for the rich, increased it on the average worker AND spent like crazy

Dubya made Ronnie look like a fiscal conservative!!!

 

[boedicca]

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

LIKE THIS:


EFFECTIVE TAX RATES

Which means absolutely nothing other than that you found a bogus chart that agrees with your worldview.

Take a look at tax receipts as a percent of GDP - that tells a more revealing story. But I bet your won't understand why.

Sure Bubba, you want to cherry pick AND not accept the tax burden WAS pushed to the middle class AS the Norquista's shifted the burden from those "job creators" right?

Yep, percent of GDP IS how economists measure the tax burden, BUT the tax burden on the top 1% hasn't been this low since BEFORE Harding/Coolidge great depression. Weird right?



Hint Ronnie GUTTED tax revenues AS he cut taxes for the rich, increased it on the average worker AND spent like crazy

Dubya made Ronnie look like a fiscal conservative!!!

Oh, dunderhead, the trend is that more and more of the income tax burden has been shifted upward.

 

[Dad2three]

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

LIKE THIS:


EFFECTIVE TAX RATES

Which means absolutely nothing other than that you found a bogus chart that agrees with your worldview.

Take a look at tax receipts as a percent of GDP - that tells a more revealing story. But I bet your won't understand why.

The top graph shows the average (EFFECTIVE) tax rate since the 1940s for the Top 0.01% of income earners (in 2010, the approximately 15,000 returns reporting more than $8 million dollars in income).

Historical Tax Rates of Top 0.01%

 

[Dad2three]

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

LIKE THIS:


EFFECTIVE TAX RATES

Which means absolutely nothing other than that you found a bogus chart that agrees with your worldview.

Take a look at tax receipts as a percent of GDP - that tells a more revealing story. But I bet your won't understand why.

Sure Bubba, you want to cherry pick AND not accept the tax burden WAS pushed to the middle class AS the Norquista's shifted the burden from those "job creators" right?

Yep, percent of GDP IS how economists measure the tax burden, BUT the tax burden on the top 1% hasn't been this low since BEFORE Harding/Coolidge great depression. Weird right?



Hint Ronnie GUTTED tax revenues AS he cut taxes for the rich, increased it on the average worker AND spent like crazy

Dubya made Ronnie look like a fiscal conservative!!!

Oh, dunderhead, the trend is that more and more of the income tax burden has been shifted upward.

You mean as more and more burden was put on other sources of revenues, like the PAYROLL TRUST FUNDS that are owed $3+ trillion???


Income tax burden? Way less than half of ALL US revenues

 

[sealybobo]

As I stated, Republicans participated in all this, but were not the creators. Democrats started this mess. Now if you want to post one-sided stories, I can do the same if you'd like. I have dozens of them in my Housing Collapse folder if you'd like to take a look at.

YOUR inability to refute FACTS are noted Bubs

"Facts" from ThinkProgress.org, FactLeft.com, AmericansForTaxFairness, and WorkersParadise.com are suspect at best and a kind of loony leftist lunacy at worst.
You're a 1-trick propaganda robot, Princess, and considering how little positive response you get here, not a very good one.

Debunk their facts once before deciding.

I've looked into your sources and they are proven to be fos.

 

[Ray From Cleveland]

If it bothers you to have a complex tax code, the solution is quite simple: A low fair flat rate tax that applied to everyone.

Easy Peasy Lemon Squeezy!

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

We could if you want to see even more Americans leaving the country. Many are renouncing their citizenship at todays rates.

Rent is based on costs to the landlord and comparable rental units in the area. Every savings or cost to a landlord is considered when creating a rental price.

Tax write-offs are not what you think they are. If I pay $2,000 this year in mortgage interest, and I would normally pay 10% tax on that money, that's only $200.00 that I saved with the write-off. It's not that much to pass around to renters or anybody else for that matter. In other words, you don't deduct the 2K, you can only deduct the amount of tax you would normally pay on that 2K.

 

[boedicca]

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

We could if you want to see even more Americans leaving the country. Many are renouncing their citizenship at todays rates.

Rent is based on costs to the landlord and comparable rental units in the area. Every savings or cost to a landlord is considered when creating a rental price.

Tax write-offs are not what you think they are. If I pay $2,000 this year in mortgage interest, and I would normally pay 10% tax on that money, that's only $200.00 that I saved with the write-off. It's not that much to pass around to renters or anybody else for that matter. In other words, you don't deduct the 2K, you can only deduct the amount of tax you would normally pay on that 2K.

And, if one is a higher income middle class taxpayer, the AMT wipes out some of the tax deductions anyway.

 

[Dad2three]

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

We could if you want to see even more Americans leaving the country. Many are renouncing their citizenship at todays rates.

Rent is based on costs to the landlord and comparable rental units in the area. Every savings or cost to a landlord is considered when creating a rental price.

Tax write-offs are not what you think they are. If I pay $2,000 this year in mortgage interest, and I would normally pay 10% tax on that money, that's only $200.00 that I saved with the write-off. It's not that much to pass around to renters or anybody else for that matter. In other words, you don't deduct the 2K, you can only deduct the amount of tax you would normally pay on that 2K.

MORE right wing garbage. Shocking

Interest expense is a write off of INCOME. Pay $10,000 in interest, take $10,000 off your income

LOWEST SUSTAINED TAX BURDEN ON THE TOP 2% IN 80 YEARS? Fleeing the country? lol



Rental prices are created by DEMAND, ZERO TO DO WITH COSTS DUMMY!

 

[Dad2three]

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

We could if you want to see even more Americans leaving the country. Many are renouncing their citizenship at todays rates.

Rent is based on costs to the landlord and comparable rental units in the area. Every savings or cost to a landlord is considered when creating a rental price.

Tax write-offs are not what you think they are. If I pay $2,000 this year in mortgage interest, and I would normally pay 10% tax on that money, that's only $200.00 that I saved with the write-off. It's not that much to pass around to renters or anybody else for that matter. In other words, you don't deduct the 2K, you can only deduct the amount of tax you would normally pay on that 2K.

And, if one is a higher income middle class taxpayer, the AMT wipes out some of the tax deductions anyway.

Alternative MINIMUM tax? Weird the GOP will not fix it? LOL

 

[dcraelin]

Flat would be ideal, but just getting rid of all the exemptions, "incentives", and similar bullshit would be a fine start. And there'd be actual bipartisan support for such an effort.

A lot of the exemptions and deductions were put in place to justify higher rates. A change needs to involve reducing rates as well.

Linking the two issues isn't necessary and ensures gridlock. We should seize the opportunity for positive change, even if it results in higher net taxes for some. The argument for lower tax rates will be much more compelling when people are actually paying the rates in question.

Uh. Yes it is. Example. If you want to get rid of the mortgage deduction, then rates should be lowered for individuals.

If you want to get rid of depreciation on capital equipment as a deduction, then 100% of capital purchases should be eligible for deductions from income upon purchase.

We have a convoluted tax code because businesses and groups of individuals have quite rightly lobbied to offset high tax rates. You can't get rid of the deductions and leave rates high, unless you want to make the economy even worse.

the mortgage deduction is mostly just a favor for the real-estate lobby, it is a benefit renters dont get....it should be eliminated or severely cut back, with a cap.

businesses and groups have lobbied....you're right on that.

the pile up of debt is what will REALLY make the economy bad.....Eisenhower had a top MARGINAL rate of 91%.....we have since added even more to our debt....top rates should go back up to that.

I suggest that you look at the tax bracket to which that 91% applied on an inflation adjusted basis - and understand that there were far more generous deductions back then...

youll have to supply that info if your going to argue it......I seem to recall recent additions to the standard deduction...so that part has gotten bigger not smaller with time...

there were loopholes and deductions then yes....but generally there were less back then even with the higher rates.