Most of a America already pays the flat tax with a standard deduction 1040. Will the Republicans kick, and scream with out their tax shelters and corporate welfare?
2006-09-07 02:31:19 · 15 answers · asked by Jenny_is_Hot 6 in Politics & Government ➔ Politics
Can the country trust the repuglicans with the fair tax, it won't be long before the tax code will be 10000 pages with the poor and middle class picking up the tab for the very rich. I really see nothing fair about the fair tax as it still favors the people that can afford to pay taxes the most.
2006-09-07 02:46:24 · answer #1 · answered by Anonymous · 1⤊ 2⤋
Actually, most of America does not pay the "flat" standard deduction, as according to the CBO, about 52% of Adult Americans pay the Federal Income Tax. Also, RHINO's like Chafee and Specter support luxury taxes.
The simple reason why they do not support the luxury taxes at their current rate is because it stymies growth. Take for example yacht taxes of the 70's versus the 80's. When the luxury tax rate was cut in the 80's, you saw an increase in the total revenue from luxury goods taxation. Lower taxes motivate more people to buy, and therefore total revenue is increased.
Also in example, the capital gains tax hovered at 20%. When we did a "tax cut for the wealthy" and reduced the gains tax to 15%, we saw a massive increase of 60% to total revenues generated from the tax. In other words, the lower capital gains tax increased total tax revenue.
It comes down to the two warring principles over taxation. Republicans believe that the purpose of the tax code it to raise money for the Federal Government. Democrats believe that the purpose of the tax code is to re-distribute wealth. The two views are inconsolable.
Hope this helps with you query.
2006-09-07 02:39:49 · answer #2 · answered by lundstroms2004 6 · 3⤊ 1⤋
so begs the question........i know proper! -even as i'm no longer prepared to bypass so some distance as you, I do discover fault in maximum of those so referred to as Flat Tax plans that look more desirable of an analogous and easily attempting to placate the idiots. to illustrate that fool Perry got here out and suggested you will pay his 20% OR keep on with the commonly used cost. How does that fix something? I basically examine yet another theory touting a Flat tax plan that gave you an exemption in accordance to what percentage little ones you've. What does having little ones might want to do with tax criminal duty? and back, how does that fix the area? seem, we want a Flat tax. even if or not it truly is 10% or 25% i do not a lot care besides the undeniable fact that it desires to be carried out in a honest way. you're making $2 hundred,000, you pay $50,000. in case you want more desirable money then have a lot less little ones and do not stress me to pay for them with my taxes.
2016-11-25 02:19:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋
The republicans and the democrats want to keep the tax system the way it is in order to keep their power and control over the public. It's extremely hard for a working man to become rich because the government takes control of almost half of the money he works for. A flat tax would give the working people more control of their money and the amount of taxes they chose to pay. Right now the government just "takes" what they want.
2006-09-07 02:43:03 · answer #4 · answered by Anonymous · 1⤊ 1⤋
sigh, reading these answers has depressed me to the point where i won't even start answering this question
but the standard deduction 1040 isn't really a flat tax, most people (and all wealthy people) in fact do not opt to take the standard deduction, it's almost irrelevant in american taxation. but minus that point, you're right, and i can forgive that point
no way you could be attractive and know the tax code, that would just be unreal
2006-09-07 02:51:04 · answer #5 · answered by trolls aint human 1 · 1⤊ 1⤋
I don't understand the republicans really I don't 9/11 was the worst attack ever and they spend millions a day to make new terrorist enemies. They say they are promoting democracy but to whom I think there is only one man who decided war is the only option. All that money we spend all the money we will end up owing and the money we already owe will come out of our taxes one way or another. Taxes are the reason we cut ties with king george are they not is it just me or does this war not seem to be making us a "more perfect union". Why does our idiot president believe that even if he does make a democatic government in Iraq that the terrorists will stop being terrorists. He's only pissing them off more and we have to pay for it one way or another.
2006-09-07 02:39:41 · answer #6 · answered by Thin King 3 · 0⤊ 2⤋
Republicans do want a flat tax, Bush even used that as a platform in 2000, except the Democrats are the ones who nixed it.
2006-09-07 02:35:37 · answer #7 · answered by battle-ax 6 · 2⤊ 2⤋
Excuse me?
Haven't you read the book "The Fair Tax" by Neal Boortz?
We as republicans have been pushing for a flat tax for years and years. It is the democrats who won't approve it. Get your facts straight.
2006-09-07 02:34:57 · answer #8 · answered by Trollhair 6 · 2⤊ 2⤋
I already pay the flat tax, so it makes no difference to me.
2006-09-07 03:20:09 · answer #9 · answered by Anonymous · 0⤊ 2⤋
Republicans don't want lower taxes, they only say that to get elected.
2006-09-07 02:33:43 · answer #10 · answered by Anonymous · 3⤊ 1⤋