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How about a flat tax?


 
10/9/2004 3:52 PM
Undecided How about a flat tax?
Would a flat tax rate (income, i'm talking) across the board be a fair thing? I think having long term investment income at a (reasonable) discounted rate, as well as special retirement investments exempt, but to me, a flat income tax rate seems fair.  
 
How about a use tax (or a use adjusted rate) on govenment sposored programs, especially if we ever get a government medical plan, to ease the burden on those that don't use them. Howaboutit?
 
10/9/2004 4:00 PM
Brutus
Makes lots of sense. As long as it really is flat without lots of credits and special exemptions. Gets government out of the business of trying to run our lives by coming up with creative tax schemes that don't make any sense.
 
10/9/2004 6:19 PM
Concerned Citizen
quote:
"Would a flat tax rate (income, i'm talking) across the board be a fair thing"
I agree with you that the flat tax idea seems like a good idea. The one argument I have heard against it is that it would be a much greater burden on the poor than the system we have now. Imagine a 10% tax on someone making $1million versus 10% of $25,000. If you can think of why a low income family would prefer the flat tax to the current system please tell me.  
 
I have heard the idea of a consumption tax (is this what you mean by 'use tax'?) where your money is taxed as you spend it rather than as you earn it. This also seems like a good idea (lots more people would save for retirement, etc) but it would mean *huge* increases in taxes, and I don't think Americans will tolerate that.  
 
CC
 
10/9/2004 10:58 PM
Damn Right H.R 25
See :  
http://www.fairtax.org/  
and  
Google HR 25  
or  
http://thomas.loc.gov/cgi-bin/bdquery/z?d108:h.r.00025:  
 
The HR 25 presents a fair tax plan that works as a consumption tax : the more you buy, the more you pay.  
 
The current proposal is for a rate of 23%.  
Debilitating to the poor, you say? I agree. That's why ecery month everyone receives a rebate check for a fixed amount to cover the costs of taxes paid on life's necessities : housing, food, utilities etc.  
 
It would behoove those interested to dig a little deeper on this topic as its a solid plan.  
 
Do some research on hidden taxes.(Ok I did it for you)  
http://www.cato.org/dailys/4-13-98.html  
 
Too bad proposals such as this don't get enough media attention.
 
10/11/2004 2:18 PM
earl
email

Mind you...I'm not saying i'm in favor of a national sales tax...but...it would put some tax burden on those who by the nature of their income, escape income tax. I am speaking of those who make large, even small, sums of money in the black market. Folks who make money in the illegal drug trade are the group that first come to mind. Just a thought to share.
 
10/11/2004 3:52 PM
Darin
email

How about ending Corporate Welfare? Most corporations pay little to no income tax. Numerous corporations make millions, even billions in profit every year and pay no income tax on that money. Doesn't seem fair that consumers have to pick up the tab for corporations.  
 
I don't think that we'll see any movement towards cracking down on black market income through national sales tax. First off, no junk peddler is going to charge sales tax nor would they report that income. Secondly, the only way we could collect sales tax on these drugs would be to legalize them. You can't enforce sales tax on illegal items, unless it's pot. There's that whole tax stamp thing. Just away to trump up petty drug possession charges.
 
10/11/2004 4:45 PM
Damn Right Earl is right, Dammit
Darin -  
 
Earl is very correct in that this is an excellent way to collect revenue from those who dont pay any income tax now, such as drug dealers.  
 
Here's how it works : A drug dealer makes $50,000 in cash one weekend. He goes monday and buys a $30,000 Mercedes, He then outfits it with $10,500 worth of bling (spinner rims, golden emblems, etc). He has now spent $40,500. Under the current plan that's all he would spend, besides sales tax. Under the proposed plan, the drug dealer would pay 23%, or $9315. This money goes directly to the IRS to run the gov't. See how the drug dealer now pays 'income' taxes where he didn't before?  
 
Corporations will pay the exact same consumption tax that you or I would, 23% on anything purchased. There are some truly awesome numbers for GDP growth and the expansion of American manufacturing that a consumption tax would spur. Dig a little deeper into the posted links and find out for yourself.  
 
Damn Right!
 
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