sigmachris
Active Member
To get this question out of the Obama thread. Which tax system would serve the USA the best?
Taxes
- Thread starter sigmachris
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sigmachris
Active Member
Only 4 options on the poll available so I couldn't get more detailed.
al mc
Active Member
I like a flat tax or consumption tax. The tax return should be easy enough for anyone to understand and fill out. Isn't our system insane when you have to have a whole industry devoted to helping you pay your taxes. If a government needs to collect taxes the method of taxation should be simple.
garnet13aj
Active Member
I don't know that much about economics...could we actually generate enough money with a flat tax w/out leaving the lowest paid absolutely broke?
darknes
Active Member
Originally Posted by garnet13aj
http:///forum/post/2486798
I don't know that much about economics...could we actually generate enough money with a flat tax w/out leaving the lowest paid absolutely broke?
I'm not an economist, but I would think so. The more money you make, the more you'll spend, so thus the more taxes you will pay.
http:///forum/post/2486798
I don't know that much about economics...could we actually generate enough money with a flat tax w/out leaving the lowest paid absolutely broke?
I'm not an economist, but I would think so. The more money you make, the more you'll spend, so thus the more taxes you will pay.
al mc
Active Member
Originally Posted by Darknes
http:///forum/post/2486820
I'm not an economist, but I would think so. The more money you make, the more you'll spend, so thus the more taxes you will pay.
Actually what you are desribing is a 'consumption' tax. So the more you consume (spend), the more you are taxed. It is not a bad system, but I like flat tax better as literally the filling of a tax return could be done on an index size piece of paper.
http:///forum/post/2486820
I'm not an economist, but I would think so. The more money you make, the more you'll spend, so thus the more taxes you will pay.
Actually what you are desribing is a 'consumption' tax. So the more you consume (spend), the more you are taxed. It is not a bad system, but I like flat tax better as literally the filling of a tax return could be done on an index size piece of paper.
al mc
Active Member
Originally Posted by reefraff
http:///forum/post/2486877
The flat tax is one percentage rate for everyone with no write offs but its only on income over X amount. I think 30,000 is the number they are throwing out there so a married couple making less than 60 grand a year would owe no tax.
This is correct as I remember it also. The biggest debate was whether you would be able to deduct
[hr]
interest rates. In the 'perfect' model you would not be able to do so. The real estate/home building/banking lobbyist were all for having the
[hr]
interest
deductible for very personal reasons.
http:///forum/post/2486877
The flat tax is one percentage rate for everyone with no write offs but its only on income over X amount. I think 30,000 is the number they are throwing out there so a married couple making less than 60 grand a year would owe no tax.
This is correct as I remember it also. The biggest debate was whether you would be able to deduct
[hr]
interest rates. In the 'perfect' model you would not be able to do so. The real estate/home building/banking lobbyist were all for having the
[hr]
interest
deductible for very personal reasons.