Taxes.. How much is TOO MUCH?

[007]

How do we know government will be a worthy steward of the new taxes when they have completely fucked up managing the old ones?

they won't be but there isn't much you can do about it expect voted in actual small gov reps who will cut back thes pending

That's not the only answer either because the fatal damage is already done. Our economy is on a crash course, and unless we DRASTICALLY cut spending, it's going to fail, period, done deal. We've already spent more money than we could afford. obama saw to that. Hard times are ahead, big time. Pretending they're not is only being ignorant.

There WILL be, civil unrest.

 

[blu]

How do we know government will be a worthy steward of the new taxes when they have completely fucked up managing the old ones?

they won't be but there isn't much you can do about it expect voted in actual small gov reps who will cut back thes pending

That's not the only answer either. Our economy is on a crash course, and unless we DRASTICALLY cut spending, it's going to fail, period, done deal. We've already spent more money than we could afford. obama saw to that. Hard times are ahead, big time. Pretending they're not is only being ignorant.

you said my answer wasn't the only answer and then you gave the same idea

also, its not only obama's fault, except of course if you are a hack.

 

[007]

they won't be but there isn't much you can do about it expect voted in actual small gov reps who will cut back thes pending

That's not the only answer either. Our economy is on a crash course, and unless we DRASTICALLY cut spending, it's going to fail, period, done deal. We've already spent more money than we could afford. obama saw to that. Hard times are ahead, big time. Pretending they're not is only being ignorant.

you said my answer wasn't the only answer and then you gave the same idea

also, its not only obama's fault, except of course if you are a hack.

What I meant was that the cutting spending is going to have to be done to a point where entitlements will all be practically nonexistent. obama's health care take over, dead in the water. There will never be enough money to pay for it, ever. The magnitude of the spending cuts that will be needed will cause civil unrest, and who's in office isn't going to matter.

And no, obama isn't the only one to blame. ALL politicians are guilty of spending us into oblivion. obama just made absolutely certain that is what was going to happen. What a dumbass. He could have been the hero, but instead just couldn't resist spending every bit of political capitol he had on his marxist, socialist agenda.

 

[Foxfyre]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

I hope everybody did check out this link. The argument supporting a flat tax is simple, straight forward, and easily understood.

Thanks for the link.

 

[Avatar4321]

No more than 10%. God doesn't ask for more than that. So why should we let the government take more than Our Lord?

 

[blu]

That's not the only answer either. Our economy is on a crash course, and unless we DRASTICALLY cut spending, it's going to fail, period, done deal. We've already spent more money than we could afford. obama saw to that. Hard times are ahead, big time. Pretending they're not is only being ignorant.

you said my answer wasn't the only answer and then you gave the same idea

also, its not only obama's fault, except of course if you are a hack.

What I meant was that the cutting spending is going to have to be done to a point where entitlements will all be practically nonexistent. obama's health care take over, dead in the water. There will never be enough money to pay for it, ever. The magnitude of the spending cuts that will be needed will cause civil unrest, and who's in office isn't going to matter.

And no, obama isn't the only one to blame. ALL politicians are guilty of spending us into oblivion. obama just made absolutely certain that is what was going to happen. What a dumbass. He could have been the hero, but instead just couldn't resist spending every bit of political capitol he had on his marxist, socialist agenda.

I would rep you but I am out. much better explaination, thanks

 

[blu]

No more than 10%. God doesn't ask for more than that. So why should we let the government take more than Our Lord?

hmm I forgot about that. in that case we should make it 11% just to annoy the christians

 

[Zoom-boing]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

This seems to follow K.I.S.S., which makes it even easier to see why politicians would fight this.

 

[NYcarbineer]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

How many people would pay higher taxes under the flat tax? Keeping in mind as was recently reported that 47% of Americans pay NO federal income tax.

How many people would pay lower taxes under the flat tax? and in what income brackets would they most likely be?

 

[DiamondDave]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

How many people would pay higher taxes under the flat tax? Keeping in mind as was recently reported that 47% of Americans pay NO federal income tax.

How many people would pay lower taxes under the flat tax? and in what income brackets would they most likely be?

Yes... anyone paying NOTHING would indeed be paying higher.. BUT THAT IS HOW IT SHOULD BE... it is wrong for them to be getting off with a freebie....

Again... another lefty with selective equality behind their motivation... falling for the 'awwww poor baby' routine

 

[Zoom-boing]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

How many people would pay higher taxes under the flat tax? Keeping in mind as was recently reported that 47% of Americans pay NO federal income tax.

How many people would pay lower taxes under the flat tax? and in what income brackets would they most likely be?

Well since we get all of our fed taxes back, we'd be paying several thousands of dollars in taxes that currently someone else is covering for us. I'm all for the flat tax. Why should my brother, who makes more money than me, foot my portion of the bill? Why shouldn't I pay xx of my income and he pay the same xx of his income. Isn't that fair?

 

[Claudette]

imho Everyone should pay exactly the same % taxes on all income with no deductions.

I agree!! I'm thinking 11 or 12%.

Ditto.

 

[PLYMCO_PILGRIM]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

How many people would pay higher taxes under the flat tax? Keeping in mind as was recently reported that 47% of Americans pay NO federal income tax.

How many people would pay lower taxes under the flat tax? and in what income brackets would they most likely be?

Considering the bottom 50% get 100% of their federal income tax back under the bush tax cuts (which will change once they expire) I would say over half the country would be paying more than they do now. However once the bush tax cuts expire the bottom half would be paying less under a flat tax.

 

[Claudette]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

I don't usually watch Beck but happened to catch him yesterday and he had a gentleman from the Cato Institute on along with Art Laffer and they were talking about just this.

According to them an 11% flat tax would raise more revenue than raising the rates on Capital Gains and all other taxes.

Was a very interesting segment. I just wonder if the Clown in DC would even consider this???

 

[KMAN]

taxes should be quite minimum. 10% at most. the issue is that liberals keep wanting more entitlements and righties keep wanting more wars so we need more taxes. don't bitch about the tax increases, bitch and fight against the justifications used.

I'm not sure I've ever heard anyone say they want more wars... but I do agree that Liberals want more entitlements...

 

[KMAN]

A flat tax makes too much sense... That's why are Government will never go for it...

 

[uscitizen]

I also think that nay capital gains cashed in for under a 1 year term should be taxed as straight income and have the scale go down as time passes.
This should promote more investments and less gambling.

 

[PLYMCO_PILGRIM]

A flat tax makes too much sense... That's why are Government will never go for it...

Not to mention it actually would go along with the sprit of the constitution having all taxes levelled equally.

If I make 100 bucks a year I should pay $10 in taxes. If I make 100,000 a year I should pay 10,000 in taxes. If I make 1,000,000,000 a year I should pay 100,000,000 in taxes.

No tax breaks, no exceptions, no deductions. It is what it is...you earn $xxxxxxx.xx/year and you have to pay 10% of it in taxes no matter when, where, or how you earned it.

 

[uscitizen]

The Cato institute people have been studing countries that have rolled out a flat tax. This link shows advantages for America.

Eliminate Tax Brackets and Complicated Forms with a Flat Tax | Daniel J. Mitchell | Cato Institute: Commentary

“Tax reform may seem like an impossible dream, but it can happen. Achieving a flat tax in America will not be easy. Everyone who benefits from the current system—politicians, accountants, bureaucrats, and lobbyists—will fight to keep the IRS. But if the American people get angry enough, anything is possible.”

How many people would pay higher taxes under the flat tax? Keeping in mind as was recently reported that 47% of Americans pay NO federal income tax.

How many people would pay lower taxes under the flat tax? and in what income brackets would they most likely be?

Who would pay more taxes in dollar amounts with a flat tax? the bottom and top income brackets. The lower middle class would likely pay a lower dollar amount.

 

[boedicca]

You are missing the real point.

Lower taxes and simplification free the economy to grow, creating jobs, and lifting everyone who is willing to work's boat. If the tax is designed to lower the size of government, which it should be, the reduced tax burden should result in higher take home pay at all levels. That would be a good outcome.