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Re: Earl is right, Dammit


 
10/11/2004 11:18 PM
Darin
email
Re: Earl is right, Dammit
I get the point, but those involved in such illegal activities usually find a way around such legalities as taxes. Buying a vehicle from a private party for instance, or using a broker, or having a third party purchase for them, etc. Cash has a strange way of making people look the other way...IS there something in this hand that'll make what's in this hand go away? This concept looks good in theory, but can it be reduced to practice?  
 
Here's an interesting article in today's news:  
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B7BF41F05%2DFD55%2D4B73%2D85E3%2D6DD71C1E07A2%7D
 
10/11/2004 11:04 PM
Bush the Boob Flat tax sucks!
I think the rich should pay their fair share and then even more. A flat tax is just a way to tax the poor to make them pay for the needs of the rich. If the rich don't want to pay their taxes they should be jailed.
 
10/12/2004 3:08 PM
Undecided
A flat tax is not fair???
 
10/12/2004 4:01 PM
Bush the Boob
Not to us freeloaders!
 
10/15/2004 5:22 AM
Enzo
email

No a flat tax is not fair. You can talk about drug dealers not paying taxes, but they are realy a very small percentage of Americans. COnsider me. My taxes would go up.  
 
I do not make much money, I live off my little shop, but at years end I find I live in poverty. And that is not through creative bookkeeping. I am genuinely poor. I pay my social security - FICA - but most years pay no income tax. My house needs a roof, plumbing help, othre work, but I can't afford to do it. I find myself having to put off some heath care. The dentist want to put on a crown, but I can't afford it until I pay off the last one.  
 
You start to add sales taxes. value added taxes, services tax, and all those other pay as you go taxes, and it heaps a burden on people like me. Why should I pay more in taxes so the better off can pay less? I am not being selfish, there are many people with low income. Something like 2/3 of us will get to retirement age without enough income.  
 
You work all your life for a pension that evaporates before you can claim it, or you invest in something liek Enron and your stock value is wiped out, then you are poor too. So why do we want to sap these folks for even more money? That is what a flat tax does.  
 
It ain't just two guys in Hoboken, there are millions of poor in this country. What would you do, hand out "don't tax me" cards for the poor?  
 
I recall billionaire Ross Perot saying "go ahead and tax me, I can afford it" How refreshing. I recal overhearing a restaurant conversation wherein a couple was discussing their awful tax burden - half their income went to taxes. Of course I watched them dxrive off in separate Lexus sedans, and I knew where they lived from listening, they lived in a million dollar home.  
 
Good for them, but their living beyond their means is not my fault. Furthermore, they got that well off because they were here in America. America is responsible for their wealth - no not the government, but the society as a whole. I feel no guilt in taxing it. Back when I made good money, I paid my taxes without resentment. I was glad I made enough to get taxed.  
 
Griping about taxes is as old as taxes. We get a paycheck and gripe about how much was taken out. But after FICA, 401K, Health coverage, and so on, not many of us really know how much is taken out for actual incoime tax. I wish I had the problem.
 
10/15/2004 1:30 PM
Dave Rich
Enzo, I wish you all the best in your business. But I think you have some misconceptions about taxes. Do you think your business would be better off if the government took more money out of your community and away from your customers and sent it to Washington DC?  
 
The income tax is not a tax on wealth, it's a tax on wealth generation. It's a barrier to becoming rich. The rich already have their money, paying income taxes is trivial to them. Enzo as you work harder and your business becomes more successful, you'll see the government take more and more away from you. Money that you would spend to improve your business and hire employees will be sent to the IRS. When you want to grow your business by hiring employees you'll find that the government raises the cost of labor thru minimum wage, workers comp, medical care and other regulations. This is no problem for Wal Mart and Ross Perot but it is a big problem for small business owners.  
 
The key component to a flat tax that makes it so fair is the front end deduction. The tax form would look something like this;  
 
 
1) Write your income :  
 
2) Subtract $40,000:  
 
3) Pay 20 % of this number  
 
The deduction does away with tax brackets. Those on the lower end pay nothing and as you make more, above and beyond $40,000, you pay progressively more.
 
10/15/2004 4:16 PM
Mark Lavelle
email

quote:
"The income tax is not a tax on wealth, it's a tax on wealth generation."
Fair enough (at least the first half), but a flat tax isn't a tax on wealth, either. It can be done, though – in Switzerland taxes are actually calculated on your net worth.  
quote:
"The rich already have their money, paying income taxes is trivial to them."
Really? Then why do they spend so much money hiring accountants to reduce their taxes?  
quote:
"Enzo as you work harder and your business becomes more successful, you'll see the government take more and more away from you. [...] This is no problem for Wal Mart and Ross Perot but it is a big problem for small business owners."
Why is that a problem? If you've got a solid plan to grow a business you can find a bank to lend you the money you need.  
 
Tax brackets are good! I'm in the higest one and I don't mind at all. OTOH, I do object to the system being so complicated that I no longer feel qualified to prepare my own tax return. My preference would be to drop all credits and deductions (yes, even mortgage interest) except a per-household and/or per-person credits (e.g., $30k per household plus $5k per person) off the income line. Then I'd re-jigger the brackets so the top one was 40% and the bottom was 5 or 10%.  
 
Feel free to write me in as your vote for Senator...
 
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