Obama Is Smart At Least Regarding Taxes

Thornicus said:
Graduated-rate taxation is retarded. It is a waste of time, and as everyone in business knows, time equals money. It is also unfair. Why should someone be penalized for making more money? Hell, I know several people in Canada who end up making more by making less. Graduated rates are lunacy.

People who say a flat tax would be regressive are absolute morons. If anything, the effect would be more progressive than the current system.

I'm so tired of liberals fucking up my country. They should be shipped off to a faraway island, or perhaps to a distant star. Or better yet, to the bottom of the ocean. :)
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Hey kid it was my country long before it was yours.
I have seniority rights, so there :usflag:
 
The Fair Tax has us setting the poverty level, and then returns the taxes paid on that much of your income. In other words, if the consumption tax is 20% and the poverty level is $18,000.00, then we would all get a check for $3,600.00. So that every single person is refunded the amount of tax at or below the poverty level. Which means no one pays taxes on the basic necessities.

But a consumption tax also taxes people who do not report income. It taxes illegal aliens, drug dealers and people who work for tips. There is no hiding your income, its taxed as you spend it.

That way there is no tax on investments, savings, or money buried in your back yard. But there is a tax on all new goods and services.

But used goods are tax exempt.

Also, there is no longer any deduction from your paycheck. If you make $10 an hour and work 40 hours, you get a check for $400.00



And no more using the IRS to punish political enemies. The IRS would be reduced to collecting taxes from businesses.

And it would be completely fair. We all pay the same percentage of what we spend.

But best of all, if a politician wants to raise taxes he must raise taxes on every single citizen of the USA.
 
Solitary said:
And no more using the IRS to punish political enemies. The IRS would be reduced to collecting taxes from businesses.
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Wouldn't the agency that would be set up to replace the IRS without being named the IRS just reduce their rebate? Anyway, getting rid of all the deductions would make my system just as simple to collect.
 
Solitary said:
The Fair Tax has us setting the poverty level, and then returns the taxes paid on that much of your income. In other words, if the consumption tax is 20% and the poverty level is $18,000.00, then we would all get a check for $3,600.00. So that every single person is refunded the amount of tax at or below the poverty level. Which means no one pays taxes on the basic necessities.

But a consumption tax also taxes people who do not report income. It taxes illegal aliens, drug dealers and people who work for tips. There is no hiding your income, its taxed as you spend it.

That way there is no tax on investments, savings, or money buried in your back yard. But there is a tax on all new goods and services.

But used goods are tax exempt.

Also, there is no longer any deduction from your paycheck. If you make $10 an hour and work 40 hours, you get a check for $400.00



And no more using the IRS to punish political enemies. The IRS would be reduced to collecting taxes from businesses.

And it would be completely fair. We all pay the same percentage of what we spend.

But best of all, if a politician wants to raise taxes he must raise taxes on every single citizen of the USA.
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So this is the only tax that countries that have the value added tax have ?
A pipe dream.
 
Solitary said:
The Fair Tax has us setting the poverty level, and then returns the taxes paid on that much of your income. In other words, if the consumption tax is 20% and the poverty level is $18,000.00, then we would all get a check for $3,600.00. So that every single person is refunded the amount of tax at or below the poverty level. Which means no one pays taxes on the basic necessities.

But a consumption tax also taxes people who do not report income. It taxes illegal aliens, drug dealers and people who work for tips. There is no hiding your income, its taxed as you spend it.

That way there is no tax on investments, savings, or money buried in your back yard. But there is a tax on all new goods and services.

But used goods are tax exempt.

Also, there is no longer any deduction from your paycheck. If you make $10 an hour and work 40 hours, you get a check for $400.00



And no more using the IRS to punish political enemies. The IRS would be reduced to collecting taxes from businesses.

And it would be completely fair. We all pay the same percentage of what we spend.

But best of all, if a politician wants to raise taxes he must raise taxes on every single citizen of the USA.
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The bolded part is what makes the so-called "fair tax" (I love how people come up with these titles. Like the German DEMOCRATIC Republic which was anything but democratic.) a flat out lie, and effectively a regressive tax.

Those wealthy enough to save some of their income stop paying taxes. The more they save, the lower their effective tax rate. A person who spends all of their income (say, pretty much every one whose income is lower than $40K) is going to be paying the highest percentage. People whose income is high enough they save half, will pay half as much as those who spend all their income. Those saving 90% of their income will pay 10%, etc.

But damed few can save 90% of their income no matter how hard they try and cut back. Effectively the rich will be paying even less than they do now.

And don't bother with the "they don't have to spend it all" crap. Paying no taxes on the first 18K may keep one from starving or going cold, but that is about all it will do. For most, spending more than $18K a year is through necessity, not desire.
 
There's a diminishing utility to money. One thousand dollars given to someone making nine thousand a year makes them a hell of a lot happier than one thousand dollars given to a millionaire. A graduated brackets tax scheme makes everyone overall happier. The graduated brackets should, of course, be made in such a way that you can't "make more by making less", but that's just common sense. It also shouldn't go back to the old 90% taxes on top income. But I don't think anyone would say that a 40% tax on income above a million a year is unreasonable.
 
Good Luck said:
The bolded part is what makes the so-called "fair tax" (I love how people come up with these titles. Like the German DEMOCRATIC Republic which was anything but democratic.) a flat out lie, and effectively a regressive tax.
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That depends on whether your philosophy is Lockean or Marxist...
 
There would be no fair tax on used yachts ?
:cheer:


Yeah the name, kinda like the blue skies thing. Or the patriot act, etc.
Anytime a law or plan has a wonderful sounding name, just go ahead and bend over.

the Flat Tax title is much more appropriate sounding.
 
uscitizen said:
There would be no fair tax on used yachts ?
:cheer:


Yeah the name, kinda like the blue skies thing. Or the patriot act, etc.
Anytime a law or plan has a wonderful sounding name, just go ahead and bend over.

the Flat Tax title is much more appropriate sounding.
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Well, there's nothing wrong about "flat" if you're a guy...
 
Good Luck said:
The bolded part is what makes the so-called "fair tax" (I love how people come up with these titles. Like the German DEMOCRATIC Republic which was anything but democratic.) a flat out lie, and effectively a regressive tax.

Those wealthy enough to save some of their income stop paying taxes. The more they save, the lower their effective tax rate. A person who spends all of their income (say, pretty much every one whose income is lower than $40K) is going to be paying the highest percentage. People whose income is high enough they save half, will pay half as much as those who spend all their income. Those saving 90% of their income will pay 10%, etc.

But damed few can save 90% of their income no matter how hard they try and cut back. Effectively the rich will be paying even less than they do now.

And don't bother with the "they don't have to spend it all" crap. Paying no taxes on the first 18K may keep one from starving or going cold, but that is about all it will do. For most, spending more than $18K a year is through necessity, not desire.
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So lets keep nailing the successful people by taking 45% of their income, and keep the EIC so that the ones who don't do anything but squeeze out a kid can actually show a profit come tax time. Yep, thats a great plan.

Maybe those making little could get a damned education and be a productive member of society instead of a constant drain?

The Fair Tax is indeed fair. The fact that someone busts their ass and gets to making more does get to keep more money. Its the reward for going to work early and staying late.

Fair does not mean we all get to have the same amount, it means we all pay the same amount in taxes.
 
Why I say flat tax on everyone, no exemptions or deductions. Of course those on SSI with a net worth below a certain value or military disability would be exempt.
 
Threedee said:
That depends on whether your philosophy is Lockean or Marxist...
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No it does NOT depend on philosophy. A national sales tax (which is what the so-called "fair tax" is when all the lies are removed) is effectively regressive. The larger percentage of one's income goes to savings, the lower the percentage tax is paid. That is the definition of regressive taxation under any "philosophy".
 
Good Luck said:
No it does NOT depend on philosophy. A national sales tax (which is what the so-called "fair tax" is when all the lies are removed) is effectively regressive. The larger percentage of one's income goes to savings, the lower the percentage tax is paid. That is the definition of regressive taxation under any "philosophy".
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Do you honestly expect them to keep it saved up for all time?
 
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