Who is in favor of my simple fair tax plan?

Question

I call it my 50/50 plan: on the first $50,000, you pay no tax. On anything over $50,000, you pay 50% tax to your state government. No other taxes will be collected by the governmment, and there are no deductions, and the government cannot raise taxes at any time for any reason, nor can it issue refunds or tax credits to any person or company or religious entity. The tax is based on your gross annual earnings from all sources, domestic or not, legal or illegal, active or passive. Your state government will then decide how much of that money to allocate for local, state, and federal funding. Any questions? See, it's so simple that you have no questions! Oh yes, and with it we have the balanced budget amendment for all states and the federal government.
Now, who wants to have a simple, fair, equal to all tax plan?

solaran, you're a great example of the result of the American education system. Someone making $50,001 a year under the plan would pay 50 cents in tax.

Answer 1

I don't think the Libs want a fair tax plan. I think they want people who make a lot of money to have to pay a higher rate. They will complain that your plan is unfair since it lets the moderately rich and moderately well off keep too much of their hard earned dollars. The really rich will just send their money to Bermuda or the Caymans.

Answer 2

So if I make 200 grand I have to pay 75 grand in taxes while the guy making 49 grand pays nothing. Your idea is all wet. Charge everyone in the country 15% with no deductions.
Pure flat tax, if you live here you help pay for the system.

But illegals have to pay 75% income tax. That will stop that problem. And if OTM's or Mexicans want to go to college here the tuition should be double that of Out of State.

Answer 3

Your 50/50 plan stinks of wealth redistribution, I would prefer either a flat tax of 15% or a total elimination of income taxes and have it shifted to sales tax, similar to the Fair Tax that has been mentioned.

Those that make less, buy less thus would pay less and those that buy more pay more. With this type of tax hookers, pimps drug dealers and illegal immigrants all pay taxes, no more of the run and hide your money from the government.

Answer 4

That isn't very fair.

Okay...so if I make $49,999/year - I keep everything, no strings attached. Not bad.

But if I make $50,001/year...I have to pay $25,000.50 in taxes and only keep $25,000.50 for myself to survive on? I'm now bringing home far less money than the person who makes $2 less than me a year.

A truly fair tax system is a flat tax. A flat rate across the board...let's say 10%.

So if someone makes $20,000/year, they pay $2,000 in taxes.

And if someone makes $200,000/year, they pay $20,000 in taxes.

Answer 5

No way....I think if one person is taxed, then we all should be taxed. I think we all need to be taxed equally though.....maybe not on income, but one on what we purchase.

Answer 6

only problem is theres no incentive to make between 50,000 and 100,000 plus I think the plan sux