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Taxes and the tax code..

Discussion in 'Issues Around the World' started by Techie2000, Jan 31, 2003.

  1. Techie2000

    Techie2000 The crowd would sing:

    We all know how complicated the tax code is and how the "democrats" or "liberals" or whatever they're calling them these days want a more progressive tax and no flat tax. But I was thinking (when I was replying to a thread in Rick's) and realized something. A flat tax expressed as a percentage of ones income is in fact progressive in itself and much less confusing than our currrent system. If for example we set a "flat tax" at 15% of your income, provided you make an amount worth collecting (if you make a measly $5,000 in one year its not worth taxing you) someone who is making less moneyy will still be paying less in taxes than Bill Gates for who 15% is a much larger sum of money. Heck if we did away with most of this deduction crap (there are a few instances where I feel deductions are okay. Mainly with dependants) then the government would make more money, especially off the rich who probably write off whatever huge chunk of money they donated to whatever strange disease foundation in order to not pay taxes. I don't know, it just seems too simple to me and may make audits too fast, quick, and easy. Then we'd knock out the whole tax buisness because all Charlie would have to do is type in the amount he made on a calculator, subtract whatever deduction he gets (deductions would be minimal. Dependants, and if your self-employed you would get to deduct buisness expenses off your income, and interest paid towards a mortgage) and then multiply the resulting number by 0.15. He would do this on a single piece of paper, or could do this quickly, easily and securely online on the IRS website. He would just have to type in his income, his deductions, and a debit or credit card number. He hits calculate and he gets a page telling him everything he typed in and how much he's paying, then he hits okay and his taxes are paid.

    Now everyone probably thinks I'm weird because I'm a liberal who supports a "flat tax"...
     
  2. Robert Harris

    Robert Harris Passed Away Aug. 19, 2006

    I am in favor of a flat tax too. The first $100,000 of income should be exempt and the government should then take 90% of the rest. :)
     
  3. eakes

    eakes Registered User

    Techie, if you continue with this flat tax nonsense, the Young Democrats will kick you out of the club!

    Just kidding. I too, favor a flat tax with zero deductions except for an identified 'family deduction' which considers the number of people in a family or tax payer unit.
     
  4. Misu

    Misu Hey, I saw that.

    Don't you dare touch my deductions young man, or I'll be forced to feed you to the sharks.

    We *FINALLY* get a tax break, and here you are talking about taking away deductions and creating a flat tax? Egads, do you want to see me out on the street?!
     
  5. tke711

    tke711 Oink Oink Staff Member

    I too agree with a simple flat tax, with the only deductions allowed being for charitable donations.

    If we don't include that deduction, many charities would be doomed.
     
  6. RRedline

    RRedline Veteran MMember

    I would favor a flat tax system with absolutely no deductions. I would especially support having only sales taxes and no income or property/school taxes.
     

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