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Edited by premo253:
1/27/2016 9:48:49 PM
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It's not fair. You are totally right in your assumption. A flat tax would be the "fairest" tax system however those calling for taxes on the rich are not actually wanting fairness, they are either wanting handouts or to punish the rich due to any number of reasons to include jealousy.
The absolute "fairest" system would be a flat purchase tax to collect revenue. Because with very few exceptions, everyone has to buy stuff.
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Or that they've been exploiting loop holes for years while the rest of us have been paying.
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The problem is that they are laws written into the tax code passed and approved by the government. People love to blame corporations for literally following the law. Blame the real guilty parties. The politicians who passed these laws and allowed for these exemptions. Both legislative and executive branches.
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Which their campaigns were paid for by those corporations to get those laws.
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Edited by premo253: 1/28/2016 12:26:27 PMThis is the real problem. Congress is making money off of the backs of the American people and BECOMING millionaires because of their position. [quote]Based on 2009 data, there are currently 66 in the Senate and 179 in the House (among current voting members). So while just 1 percent of Americans are millionaires, 66 percent of senators are millionaires, as are 41 percent of House members.[/quote]
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And then they go on to sit on the boards of the companies that they've helped
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Right. So again it's the political class that is to blame.
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I agree wholeheartedly I want really arguing lol. Take money out of Washington and see how quickly things change. The government needs to be for the majority not the minority. It's been to lopsided for years.
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It unfortunately wasn't created that way. But turned probably mid to late 19th century.
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Edited by Darth Coleio: 1/28/2016 12:36:27 PMIt's very unfortunate that generations have been lied to. Politicians fooled so many people that they were for them while making secret deals behind closed doors.
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A flat purchase tax is a horrible -blam!-ing idea. Workers living month to month spend the vast majority of their income on non-appreciating consumer goods, so they would be taxed on pretty much all of their income. The ultra wealthy spend very little of their income on consumer goods and so would be taxed on practically none of their income. The effective tax rate on the poor and middle class would be much higher than on the rich. Wealth and income inequality would grow substantially, and it's already bad in the current system.
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The problem with purchase taxes is that they make purchasing things a tax burden. While we will still buy food, clothing etc there would be a disincentive to purchase more expensive, discretionary items. And for cynics like me, it's not as easy to obscure the actual amount like an income tax. Which is why governments like them. ;)
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There would be but for the "rich" they would still spend money like they always do. My problem with income taxes are the Barron's like buffet and Soros "pay" themselves next to nothing while the actual holdings that they have, in the billions, are tax exempt.
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Totally get what you are saying. But then you wind up with only rich people being a part of the demand economy which would hurt....everything. What you're talking about is a problem with the tax code itself. Where a multi billionaire can write off everything so their actual tax rate is much less than the average.
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You've swayed me on the "spending" tax. I get what you are saying. While it made sense to my brain I guess it would discourage anyone making less than $100K from "really" spending money. Forget about those under $20K. They wouldn't spend a dime. Okay I get it. Thank you. You actually changed my mind on that. Regarding the tax code. That right there is the issue. A flat tax would solve the "bulk" but the heavy lifting is all of the corporate and other tax codes that allow for massive deductions from multinational corporations and millionaire/billionaires. How to solve it though, no idea. Because I firmly am against the death tax. So all these kids who receive millions from daddy I don't think should be penalized because daddy theoretically already paid taxes on all of his earned money.
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Cool man, I wasn't even trying to sway you. Sometimes it seems there's a simple answer but generally it's a bit more complicated. ;)
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My only "complaint" as it were with income taxes is that Barron's like Buffet and Soros "pay" themselves little to nothing (in the scheme of their holdings) and pay barely anything in taxes while their actual holdings are exempt from taxation.
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yup flat tax and eliminate deductions.
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