Flat Taxes

[javan]

when are we finally just gonna go to FLAT TAXES!!!!!

 

[Vylo]

when are we finally just gonna go to FLAT TAXES!!!!!

Hopefully never.

 

[Blackguard_]

^
yeah, there shouldn't be any income tax.

 

[[serious]]

When are we going to switch to a regressive tax?

Tax the poor! The rich need another boat.

 

[Voegelin]

We'll be forced into it by former communist countries. Two years ago the PRC gave unofficial approval to a book which touted a flat tax.

The media dwells endlessly about the danger to science from religion. But for junk science, nothing matches "progressive" economics. 100 years ago, one could make a rational case that a graduated income tax was, on balance, beneficial. Today that case cannot be made. Emotion, not logic, drives the retention of a progressive income tax.

 

[Charlie V]

I don't know enough about the topic -- but I do know, interestingly, that this comes up every once in a while, from radical people on both side of the spectrum. I'm open minded enough to listen to such a proposal.

Flat tax was proposed by very conservative Republican candidates like Steve Forbes.

Flat tax was proposed by very liberal Democratic candidates like Jerry Brown (who I favored, by the way, in the 1992 Presidential primary.)

I find it an odd topic, and especially because the proposal comes up from both liberals and conservatives, but generally not from the guys who win. It's certainly an interesting subject.

Charlie

 

[nvxplorer]

We'll be forced into it by former communist countries.

Oh brother. Get with the times, Voegelin. Islamofascists are the new boogieman.

The media dwells endlessly about the danger to science from religion. But for junk science, nothing matches "progressive" economics.

There is a vast difference between the natural sciences and the social sciences. Physical science (notably, evolutionary biology) is in no danger from religion. This "endless dwelling on the subject by the media" is a fallacy.

 

[ArnautDaniel]

when are we finally just gonna go to FLAT TAXES!!!!!

With all the shelters and loopholes and such, the US already has a flat tax, maybe even a regressive tax.

The real question should be, when is the US finally just gonna have a genuine progressive tax again.

 

[platzapS]

Flat tax was proposed by very conservative Republican candidates like Steve Forbes.

Flat tax was proposed by very liberal Democratic candidates like Jerry Brown (who I favored, by the way, in the 1992 Presidential primary.)

I find it an odd topic, and especially because the proposal comes up from both liberals and conservatives, but generally not from the guys who win. It's certainly an interesting subject.

It might be how they were specifically to be implemented. A conservative might want a 15% flat tax on all income over the poverty line. A liberal might want 50% on all income over $200,000.

 

[Charlie V]

It might be how they were specifically to be implemented. A conservative might want a 15% flat tax on all income over the poverty line. A liberal might want 50% on all income over $200,000.

http://en.wikipedia.org/wiki/Jerry_Brown

Jerry Brown's flat tax was 13%.

Charlie

 

[USincognito]

Ironic, I linked on this thread because I thought the title was "Flat Texas" and was going to mention the Hill Country near Austin. The irony is that Texas this last emergency session passed a nice property tax break that will help rich homeowners and tried to balance it out with a massive increase in cigarette taxes and a business tax that will likely get passed along to customers.

We don't have a state income tax btw.

 

[TheReasoner]

when are we finally just gonna go to FLAT TAXES!!!!!

I hope that never happens. A more unjust system of taxation is hard to find.

 

[TheReasoner]

We'll be forced into it by former communist countries. Two years ago the PRC gave unofficial approval to a book which touted a flat tax.

I do not know wether to laugh or cry.
Do you seriously think the USA has a monopoly on good ideas?

The media dwells endlessly about the danger to science from religion. But for junk science, nothing matches "progressive" economics. 100 years ago, one could make a rational case that a graduated income tax was, on balance, beneficial. Today that case cannot be made. Emotion, not logic, drives the retention of a progressive income tax.

Really?
Can you back that up?

 

[HumbleMan]

I personally like the idea of a flat tax. 11-12% on all income (including stock options) over $28,000. Close all loopholes.

Federal taxes on business should be at a minimum, due to the fact that they contribute to the local economy.

 

[Maynard Keenan]

Flat tax would raise taxes on 80% of Americans (at least.) More money would just collect in the hands of the rich while the middle class would shrink is number and in wealth. The working and middle class drive the economy. If all the wealth is at the top, all us common folk won't be spending any money and the economy will falter.

 

[PacificPandeist]

I recall reading just recently that Germany tried a flat tax and it turned to be a disaster and was abandoned....

A few years back, Donald Trump proposed a 17% flat tax on millionaires, but on property instead of income.... that would have hit the richest but eliminated the deficit and according to Trump would have created a historic economic boom. With the US up to its eyeballs in debt owned by the Saudis, Chinese, and Japan, dumping that debt is probably the best thing we can do for our security....

//// Pacific PanDeist

 

[Maynard Keenan]

I personally like the idea of a flat tax. 11-12% on all income (including stock options) over $28,000. Close all loopholes.

Federal taxes on business should be at a minimum, due to the fact that they contribute to the local economy.

You do realize that would give us at least a trillion dollar deficit don't you?

 

[Charlie V]

You do realize that would give us at least a trillion dollar deficit don't you?

Just in case "Trillion" isn't big enough, there was a Dilbert comic strip where his company lost so much money, there wasn't a word for the number. The Marketing Department went to work on this issue right away. After much work (not on the problem but on the name for the number), they named the number, "Frooglepoopillion."

I think the possible deficit may be frooglepoopillion dollars.

Charlie

 

[Primordial Soup]

I think that the flat tax is a bad idea. It leaves to many chances to "readjust" it for campaign donations and end back where we are today.

And for a progressive tax . I am by far no mean rich or even well off, but to tax those that have more then what the point of working hard, if your just going to have taken away.

I think the a national sales tax (fairtax.org) is the best solution, and just get rid of the income tax.

for those that might not be familiar with this wonderful idea i will list some of it's goals.

It gives everyone (rich or poor (fair) money every month on the taxes they would have paid on the basic necessities of life (ie..food, rent, etc..). So that basicaly no one is paying taxes just to survive.

You get all of the money you earn(- any state taxes) and you decide through spending how much taxes you will give.

It will create a tax haven for corporations around the world to relocate to the U.S. as they would not be paying any taxes on money earned and thus more jobs.

It will bring money that is being sheltered in other countries back to the U.S.

The underground economy (illegals, blackmarket, drugs, etc..) will start paying taxes. (through spending)

IT WILL GET RID OF THE IRS

and much much more.

I urge people to find out more on their own and contact their legislatures to get this passed.

It would be the biggest transfer of power from the government to the people since the founding of this great country.

 

[nvxplorer]

And for a progressive tax . I am by far no mean rich or even well off, but to tax those that have more then what the point of working hard, if your just going to have taken away.

There is nothing to support this assertion.

Our progressive system has never discouraged people from seeking greater income. Indeed, the economy grew rapidly when the highest margin was twice what it is today.

Yes, globalization has changed market dynamics so that such a system may not work anymore, but suggesting that someone will be discouraged by a higher bracket is fallacious.