do you think a flat tax of 10% with out any loop holes or deductions would be fair?

Question

then we could eliminate all other taxes and everyone would pay an wqual portion of their income.

Answer 1

ten percent is still ten percent, yes its fair...

Answer 2

Agree whole heartedly with this option. I think though there should still be a minimum income below which no tax is paid, to help out those less well off, before the 10% limit comes in. I would probably prefer 15% even, if that guaranteed universal access to heath care and education. Heck if the services were good I would probably still be happy at 20%.

One thing though that would be critial in the plan would be that there are no loop holes what so ever, as your question states. That is critical for the success of the system.

As it stands at the moment wealthy idividuals and corporations, escape paying tax, due to all the loopholes that expensive accountants can find to keep the wealth with the wealthy.

Answer 3

It would not be fair at all.

People who make only $10,000 per year and have to pay no tax now, would now pay $1.000 a year in taxes, plus state income tax, and about 7% in sales tax,...

The handicapped would not get a tax break.

Gains from Tax Free Municipal Bonds, which pay for our schools, would now be taxed. These are guaranteed free from taxes by the US constitution.

Roth IRAs, which the government promised us would be tax free, would now be taxed.

A flat tax sounds nice on paper, but in fact, it is a tax increase for the poor and middle class, and a tax decrease only for the extremely wealthy.

The last I heard about the flat tax, is that it would be 23%, not 10%. Wait, nobody would lie to us about that!

If they did start at flat tax, judging by past experience with the government taxes, they would keep the other taxes also, and the flat tax would be an additional tax.

How about letting the government just use the money they already print, and eliminate taxes entirely? By the way, who gets the new money they print anyway? Think about it... Oh wait, we are not supposed to think about that....

How about required a 2/3 majority vote of the people to increase politician's salaries, instead of letting them vote on it themselves?

Answer 4

10% is not enough to fund the current spending, but it would be fair. I would allow each earner to exclude the first $20,000 of earned income, then pay a flat percentage after that.

What we really need is not tax reform but spending reform. Not a nickel should be spent by the federal government that can't be justified by a clear reference to the Constitution.

After all, Amendment 10 states, "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people." If you can't point to the specific clause, then no dice. And no 'auras, penumbras and emanations' either.

Since there is nothing there about transfer payments, (money given without a effort by the donee) then all 'welfare' payments are not constitutional. That would save about $1 Trillion per year on Federal spending.

Answer 5

10%!? That would beat the absurd 36% Federal Tax I pay now.

The Flat Rate Tax has been suggested by a lot of people, but I'll be astonished if it ever becomes law.

There are millions of people in this country (U.S.) who have come to expect that people like me will take up the slack for them, pay their medical bills, pay their child care tab, and generally give them free money. That's a hard habit to break.

If a Democrat takes office next term, you can be certain that talk about the Flat Rate Tax will stop; after all, Democrats are elected on how much Free Money they promise.



Hey, MURRAY...you have no idea what you're talking about. You bet, I've got a team of accountants, and I pay them to keep my Federal Taxes BELOW 40%. No way I get off paying no taxes at all; what imbicile told you THAT!?

Answer 6

If we are to eliminate the present tax structure, I would prefer the move to a sales tax, with refunds for the lowest classes and no tax on re-sold items - thus allowing the poorest to buy used items and not get taxed for them. Of course, that could result in a lot of fake definitions of "used", so there'd have to be pretty careful policing and that's where we run into problems with the present structure.

Flat tax is okay - the biggest and best thing you mention is NO LOOPHOLES and no reductions.

Answer 7

YES!!! I have really been wanting Bush to push harder for this tax reform...he proposed it but the lovely DNC cried soo much that I havent heard much since then. The flat tax is a good idea and also a national sales tax could work...you keep all your money (no taxes taken out) and then when you purchase things or pay for whatever you just pay more of a sales tax...

Answer 8

No. I would rather see the income tax completely done away with, and in it's place, implement a national sales tax. Then, you are only taxed when you spend the money instead of when you earn it. Also, with an income tax, the criminals don't pay their share of taxes. With a sales tax, they would when they spend the money they receive for their crimes. This does not mean I condone crime, just that they should be taxed for it like everyone one else.

Answer 9

No. Taxes need to be tailored to the economic needs of a country. For example a country that wants to attract jobs from outsourcing multinationals will have a low corporation tax in place. An ideal economy is one where tax laws are tailored to maximize growth, not equality.

Answer 10

I totally think that it would be fair. If you make 100.00 a year you pay 10.00 in taxes. If you make 10,000,000.00 you pay 1000000.00 in taxes. Its completely equal and everyone pays. Or if they are going to give loopholes they should extend them to the working class. Upper class and Lower class have lots of loopholes but the middle class (working class) dosn't have as many and that is not fair. I would vote for the 10% without and loopholes or deductions.

Answer 11

It seems like it would be fair. Just because someone makes alot of money they shouldnt have to pay more taxes.It should all be equal down the line percentage wise. Does this no loop hole or deductions apply to companys as well?