Huckabee's fair tax

i think i pay something like 12-15% federal depending on my deductions. But then add in social security, medicare, state and local taxes.. and im moving up into the 40's
 
same here
I put 15m in the 401k and 4 m in an ira for the wife and 2m for medical out of pocket. I know there is more I could do ore tax.
 
uscitizen said:
Yeah me too, but we know that will never fly.
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Which just goes to show that neither party cares about doing what is best for this country. What I stated above would eliminate taxes for individuals making less than $30k ($60k for couples). It would also lower the effective tax rates for individuals making less than $60k ($120 for couples). It would raise taxes on the wealthy and provide and income stream that should generate enough revenue to cover current expenses and pay down the debt.

It would also mean the end of the IRS, which wastes as much revenue as they create.
 
Super what part of the country do you live in? cause 120K for a couple in NY or Boston I can assure you is not rich. its probably akin to making 60K in Midwest. yes that much of an index.
 
Yes if you file single.
K I agree one income = 1 deduction. But nothing else extra for children or marital status.
 
Chapdog said:
Super what part of the country do you live in? cause 120K for a couple in NY or Boston I can assure you is not rich. its probably akin to making 60K in Midwest. yes that much of an index.
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I did not say 120k was rich. I said the deduction coupled with the flat tax rate would lower the taxes for those making that or less when compared to the current system. Which means it would give breaks to the lower middle class and eliminate taxes for the low income. Even those making $250 per year should benefit.

To your point on cost of living, yes, neither my proposal nor the current system take cost of living standards into account with regards to federal taxation.
 
Chapdog said:
Super what part of the country do you live in? cause 120K for a couple in NY or Boston I can assure you is not rich. its probably akin to making 60K in Midwest. yes that much of an index.
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oh... forgot to address... I live in Colorado... Hence the Denver, CO part in my location description.
 
no way it's double on the east coast
Housing is double or tripple but that's not half the family budget.
 
I know she and neither the dems or the republicans are. Your to young to know what it means though supergerberbaby.
 
Chapdog said:
i think i pay something like 12-15% federal depending on my deductions. But then add in social security, medicare, state and local taxes.. and im moving up into the 40's
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but know one has suggested using a flat tax to replace FICA or local taxes.

The proposal is to replace the federal income tax with a flat tax. So a flat tax at between 20 and 30% as Superfreak suggests, raises your tax burden substantially. Along with the rest of the middle class and working class.
 
Cypress said:
but know one has suggested using a flat tax to replace FICA or local taxes.

The proposal is to replace the federal income tax with a flat tax. So a flat tax at between 20 and 30% as Superfreak suggests, raises your tax burden substantially. Along with the rest of the middle class and working class.
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i know this. im not in agreement with this or with a consumption tax.
 
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