Obama tells small businessman he intends to spread socialism

[FUCK THE POLICE]

Why is that fair? Someone busts their ass to make good money, and for some reason its ok to want the government to take a third of it by force.\

And yet some dipwad makes crappy decisions, puts forth little or no effort to improve their situation in life, and we should give them a free ride??



Besides, those new corporations coming in will offer the nimrod making $10k a year a chance at making something much better.

Also, roughly 20% of the price of goods is the taxes paid by the companies that manufacture them and sell them. So, with some good competition, the prices of goods would stay roughly the same, but those people who have taxes cut from their paycheck would see and INCREASE in their net pay.

Why don't you just go out and say "I want to raise taxes on the poor"?

It would have a vast negative effect on America's quality of life, Solitary. A 10% decrease in income for someone who make 10k because their parents couldn't afford college and they live in Mississippi decreases their quality of life far more tremendously than a 10% decrease in income for a trust fund baby making ten million a year.

 

[Cancel3]

Why don't you just go out and say "I want to raise taxes on the poor"?

It would have a vast negative effect on America's quality of life, Solitary. A 10% decrease in income for someone who make 10k because their parents couldn't afford college and they live in Mississippi decreases their quality of life far more tremendously than a 10% decrease in income for a trust fund baby making ten million a year.

This idea that all poor people have no control over why they are poor and that all rich people are trust fund babies is complete bullshit.

And reread what I posted. If someone is making $10k a year, they would pay no taxes at all. They would get a monthly rebate check. This means they wouldn't wait until tax season, get a big refund check and blow it on junk.



The majority of people make more than $10k a year.

Also, in this country we spend an average of $500 BILLION on tax compliance. Thats not what we pay in taxes. Thats what we pay to figure out what we should pay or to keep all the taxes striaght.

The Fair Tax Act would be a straight 20% tax on all new goods and services. No complicated formulas. No adjustments for this or that. No keeping track of the receipts, deductions and whatever else. And no audits (except possible for businesses that don't send their collected taxes in.

And no more invasion of privacy from the IRS. In fact, no more IRS as such.

 

[Bonestorm]

This idea that all poor people have no control over why they are poor and that all rich people are trust fund babies is complete bullshit.

And reread what I posted. If someone is making $10k a year, they would pay no taxes at all. They would get a monthly rebate check. This means they wouldn't wait until tax season, get a big refund check and blow it on junk.



The majority of people make more than $10k a year.

Also, in this country we spend an average of $500 BILLION on tax compliance. Thats not what we pay in taxes. Thats what we pay to figure out what we should pay or to keep all the taxes striaght.

The Fair Tax Act would be a straight 20% tax on all new goods and services. No complicated formulas. No adjustments for this or that. No keeping track of the receipts, deductions and whatever else. And no audits (except possible for businesses that don't send their collected taxes in.

And no more invasion of privacy from the IRS. In fact, no more IRS as such.

To be revenue neutral, the Fair Tax plan has to bu much higher than 20% (and even the 20% figure is misleading. I mean if something costs $100 and you pay $25 in taxes the tax rate is 25%, not 20%0.

Further, if the Fair Tax is so simple why is it 59 pages of legalese gobbledygook?

 

[Cancel3]

To be revenue neutral, the Fair Tax plan has to bu much higher than 20% (and even the 20% figure is misleading. I mean if something costs $100 and you pay $25 in taxes the tax rate is 25%, not 20%0.

Further, if the Fair Tax is so simple why is it 59 pages of legalese gobbledygook?

A comprehensive national tax plan that is only 59 pages? That sounds about as simple as it gets in the real world.

According to Newsweek, the current federal tax code runs about 60,000 pages. So the Fair Tax Act would reduce it by 59,941 pages. That certainly sounds like a good idea to me.

As far as what it takes to be revenue neutral, the organizations that come up with significantly higher numbers (I quoted 20% to 22%) are not taxing all new goods and services. One notable study said it would be somewhere in the neighborhood of 32%, but when the facts were checked they had not taxed food, medical care and several other categories.

Roughly 20% of the price of goods is the taxes that they pay. Once those taxes disappeared, the prices would drop, as has been the case in numerous cases where taxes were removed. (as long as there is competition)

 

[Cancel 2016.2]

At a campaign stop today, a plumber pointed out to Barack Obama that his plumbing business makes more than $250,000 per year, and so comes under the category that Obama has said taxes would be raised on. Obama replied that he didn't intend to punish the plumber. But, he said, the plan is to "spread the wealth around".



His plumbing BUSINESS makes over 250k a year. Has anyone talked about making a progressive corporate tax? Of course not. This guy's just a moron who doesn't understand the difference between personal and corporate taxes.

Water,

Many small businesses are set up as S-Corps.... which means the income from the businesses are passed through and taxed as a part of the owners individual income tax return.

 

[Cancel 2016.2]

Fair tax.......good.

too many working parts. Keep it simple.

Flat tax with a standard deduction. No loopholes, no other deductions. It is fair and progressive.

 

[Cancel3]

too many working parts. Keep it simple.

Flat tax with a standard deduction. No loopholes, no other deductions. It is fair and progressive.

How much simpler can a comprehensive federal tax plan that is only 59 pages long?

No deductions, no withholdings, no individual filings, no dependents, no accountants needed for the public and everyone pays the same percentage.

Plus, in order for a politician to raise taxes, they must present a valid reason for increasing the taxes for every single person in the US.

 

[Cancel 2016.2]

A comprehensive national tax plan that is only 59 pages? That sounds about as simple as it gets in the real world.

According to Newsweek, the current federal tax code runs about 60,000 pages. So the Fair Tax Act would reduce it by 59,941 pages. That certainly sounds like a good idea to me.

As far as what it takes to be revenue neutral, the organizations that come up with significantly higher numbers (I quoted 20% to 22%) are not taxing all new goods and services. One notable study said it would be somewhere in the neighborhood of 32%, but when the facts were checked they had not taxed food, medical care and several other categories.

Roughly 20% of the price of goods is the taxes that they pay. Once those taxes disappeared, the prices would drop, as has been the case in numerous cases where taxes were removed. (as long as there is competition)

I can reduce it to one page......

the following is just an example... the percentages/std deduction amounts can be tweaked if needed.....

It is time for this country to become fiscally responsible. The national debt has increased every fiscal year since 1960. What has happened to the responsibility of the two parties? Both like to point the blame at the other, but in reality neither have been responsible fiscally. It is time for a change. Let’s begin with our tax code. It should be simple enough that the average person can understand it. It should not be filled with thousands of loopholes and deductions. Let us push for the flat tax with a standard deduction and nothing more.

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $1 million (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.
It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible. The future of our nation depends upon it. We are our own worst enemy. It will be our ever-increasing debt that leads to our demise. We must act now.

 

[Cancel 2016.2]

How much simpler can a comprehensive federal tax plan that is only 59 pages long?

No deductions, no withholdings, no individual filings, no dependents, no accountants needed for the public and everyone pays the same percentage.

Plus, in order for a politician to raise taxes, they must present a valid reason for increasing the taxes for every single person in the US.

I just posted mine.... which also eliminates the need for public accountants as well as provides a more consistent/predictable income stream for the government. It is also ONE page and will still protect the low income from Federal income taxes.

No lobbying for new deductions/loopholes etc... and like the fair tax it would mean any change in the tax rate would be on every American.

 

[Cancel3]

I just posted mine.... which also eliminates the need for public accountants as well as provides a more consistent/predictable income stream for the government. It is also ONE page and will still protect the low income from Federal income taxes.

No lobbying for new deductions/loopholes etc... and like the fair tax it would mean any change in the tax rate would be on every American.

Definitaly better than what we have now. And the whole concept of business taxes would be eliminated, as well they should have been.

 

[Bonestorm]

Nice work guys!

Next issue: nuclear proliferation. And I want one page or less.

 

[Cancel3]

Nice work guys!

Next issue: nuclear proliferation. And I want one page or less.

Detonate all nuclear weapons. Problem solved.

 

[Cancel 2016.2]

Nice work guys!

Next issue: nuclear proliferation. And I want one page or less.

Destroy them all.


One SENTENCE. How ya like them apples?

 

[Cancel 2016.2]

Definitaly better than what we have now. And the whole concept of business taxes would be eliminated, as well they should have been.

That has always bothered me as well. Corporations are nothing more than paper. It is the individuals who own them and work for them that should be taxed on profits as they occur.

 

[Cancel7]

Destroy them all.


One SENTENCE. How ya like them apples?

Thanks. I saw that on "Answers for Simpletons" but never thought anyone would actually use it. Do you have the site bookmarked?

 

[Cancel 2016.2]

Thanks. I saw that on "Answers for Simpletons" but never thought anyone would actually use it. Do you have the site bookmarked?

go play with Kathy... leave the discussions to the grown ups.

 

[FUCK THE POLICE]

Water,

Many small businesses are set up as S-Corps.... which means the income from the businesses are passed through and taxed as a part of the owners individual income tax return.

I realized that after I said it.

But he'd only pay a small amount of his income at the higher rate, right? Isn't the first 250k at the other tax rates? Or is it all taxed at one rate?

 

[FUCK THE POLICE]

I can reduce it to one page......

the following is just an example... the percentages/std deduction amounts can be tweaked if needed.....

It is time for this country to become fiscally responsible. The national debt has increased every fiscal year since 1960. What has happened to the responsibility of the two parties? Both like to point the blame at the other, but in reality neither have been responsible fiscally. It is time for a change. Let’s begin with our tax code. It should be simple enough that the average person can understand it. It should not be filled with thousands of loopholes and deductions. Let us push for the flat tax with a standard deduction and nothing more.

Start with a standard deduction of $30k (adjusted for inflation annually) for each adult and then tax every dollar over that $30k at 20%. This is simple, easy to understand, fair and progressive. It protects the low-income individuals and couples from paying federal income taxes. It provides the middle-income families a lower effective tax rate than the wealthy. This plan would encompass ALL income, including earned income, capital gains and dividend income.

A person making $30k pays an effective rate of 0%.

A person making $50k pays an effective rate of 8%.

A person making $100k pays an effective rate of 14%.

A person making $200k pays en effective rate of 17%.

A person making $1mm pays an effective rate of 19.4%

Everyone has the same deduction and takes it. Which causes the effective tax rate to increase the more you make.

To reduce the national debt I would propose we add an additional temporary bracket to the flat tax. Every dollar over $1 million (again adjusted for inflation annually) would be taxed at 30% rather than 20%. The additional 10% would be mandated to pay down the debt.
It is our responsibility to pay our own way and not dump trillions of dollars of debt on future generations. We need to begin electing leaders that are fiscally responsible. The future of our nation depends upon it. We are our own worst enemy. It will be our ever-increasing debt that leads to our demise. We must act now.

Same problem. Under both the flat tax and the fair tax, the rich pay less, and to make the plan more PC they also lower taxes on the poor. Who makes up the goddamn difference? It is a massive across the board middle class tax raise.

 

[Cancel 2016.2]

I realized that after I said it.

But he'd only pay a small amount of his income at the higher rate, right? Isn't the first 250k at the other tax rates? Or is it all taxed at one rate?

If Obama raises taxes on income over $250k it would indeed only be on each dollar over that level.

 

[Cancel 2016.2]

Same problem. Under both the flat tax and the fair tax, the rich pay less, and to make the plan more PC they also lower taxes on the poor. Who makes up the goddamn difference? It is a massive across the board middle class tax raise.

No water, they would pay more. You are forgetting that we would be eliminating all deductions and loopholes. The above example would also be on ALL sources of income.

Right now, with all of the deductions and loopholes available, you can get your effective tax rate underneath the 20%. Which is what led Buffett to state that his assistant paid a higher percentage than he did under the current system.

If you read the add on bracket that I propose for debt reduction, you would also see that those over a million in income would have an additional 10% taken out to reduce debt. I don't particularly like that, but thought it necessary as we must reduce the nations debt rather than leave it for future generations.