Why not have a flat 10% tax?

Question

Basics = Everyone gets taxed 10%. Each person and each company may donate up to 10% of their income to charities. Buiness partners / ( the mega corps who own a lot of smaller companies) must pay an additional 1% per seperately named business they own. ( the corporation buster clause)
There are conditions or loop holes.

Punishment if you do not pay? Loss of business licence / 1 year jail time. per year of taxes missed no parole.

Answer 1

IT EXISTS - IT IS CALLED ---- THE FAIR TAX ACT H.R.25 YET NOT A SINGLE MEMBER OF OUR GOVERNMENT WILL TALK ABOUT IT.

1. ELIMINATES THE IRS
2. NO MORE TAX RETURNS
3. NO MORE MONEY WITH HELD FROM PAYCHECK
4. ONLY PAY A TAX IF YOU PURCHASE SOMETHING NEW
5. ELIMINATES THE 16TH AMENDMENT
6. SAVES SOCIAL SECURITY

Answer 2

Hey, I really like your idea about "the corporation buster clause". The only problem with this is that corporations have all the privacy rights of a US citizen so nobody would know how many smaller companies a mega corporation would own.

I don't like your 10% flat tax, and I'll explain why, but first; 10% on income? Or is it a 10% sales tax? What is it?

Here is the problem with the flat tax: For the poor 10% is a lot. Proportionally a flat tax favors the rich. Today in America the top 1% own more wealth then the lower 99% do. Keeping a level playing field is very important to keeping a health economy and promoting equality in a democratic society. The less wealth you control the more time you must work, therefore time not spent contributing to society. Tax is a way of redistributing wealth.

One may say that heaver taxes on the rich punishes our drive to make money. But what if we use tax dollars to promote small business owners? What we need is a healthy middle class in this country.

I like the idea of a flat sales tax, those who speed more pay more. The poor pays little, the rich pay handsomely.

Answer 3

Steve Forbes proposed a 10% flat tax awhile back I believe and didnt he have all the numbers worked out?

And to who said it.. why would the poor be over taxed if they pay the same percentage as everyone else and pay less in total dollars than those who make more?

**stupidity do you realize the idiocy of what you said?
""Proportionally a flat tax favors the rich. ""
Most of the rich are able to use loopholes to avoid most of the taxes which they wouldnt be able to do anymore.

Further you could say that the 10% doesnt start until after say your first 5 thousand dollars or something like that , which would ease the burden on the poor.

Answer 4

That's a very interesting idea. A corporate entity tax would create the overall balance but the lower incomes will remain over taxed. The arguing is over on the issue.

Answer 5

First, it makes too much sense. Second, its fair. Third, The revenue brought in would overwhelm the Treasury. I have read all through the comments of our fellow mankind and most want someone else to do the heavy lifting. The 10% tax, no exception is the best idea. Its interesting Madame Speaker did not suggest it in her first 100 hours, though in fairness, neither did Haster. We lack representation.

Answer 6

I've always been in favor of a flat tax, and your idea is not bad. Only I'd say 10% flat, period, end of story, every company, every business, every person... no loopholes, no exemptions... nothing, just 10% across the board and everyone pays the same.

Tax the poor !!!

Answer 7

I agree with you and I think a flat 10% tax would boost the economy and the Stock Market to new heights!

Answer 8

It is a good idea but the Democrats will not go for it because then they would not be able to raise and spend you money like they want to do.
And right now the Republicans aren't that much better!

Answer 9

I like the flat tax idea BUT I think it will have to be closer to 14% in order to make it work.

Answer 10

That would not only bankrupt the county, it would put needless pressure on the poor. Why tax them more when they already have nothing. Why tax the wealthy less when thay have so much. 10% across the board may seem fair, but it's not reasonable.