2007-12-17 12:35:20 · 9 answers · asked by Bramst 3 in Politics & Government ➔ Politics
So we keep the essential deductions, and have a floor for the poor, with a ceiling to protect us. Any downside?
2007-12-17 12:43:13 · update #1
Sorry - flat INCOME tax...
2007-12-17 12:44:09 · update #2
Bob Marley is exactly right. Where is the floor for the poor? The poor don't spend money now because they don't have it and it's not just the poor but middle class as well.
Most rely on tax credits to purchase those things and don't have any savings to have an overhead that would keep them afloat. It only benefits the rich.
2007-12-17 12:48:24 · answer #1 · answered by Enigma 6 · 0⤊ 1⤋
Sorry I believe tax should be progressive. To introduce a flat income tax rate would mean a shift from our current position to either significantly less revenue (and since our supposedly "small government" party cannot make do on what they are getting now that is hardly going to happen) or a shift of the tax burden towards the poor.
Remember that all consumption forms of taxation that exist along side our income tax are regressive - they tend to have a greater impact on the poor. So it we deliberately tilt income taxation away from a flat rate - the first steps of progressive rates are merely leveling the board.
Chi Guy - I thought you were a liberal? I am honestly surprised to see you advocate something as regressive as replacing income tax with consumption taxation?
2007-12-17 12:57:19 · answer #2 · answered by Sageandscholar 7 · 0⤊ 0⤋
Eliminate income tax and instead have a national sales tax. That is a percentage on what you buy in addition to state, local, etc. No paperwork at the end of the year and no tax on your retirement income. Everyone wins even the government. Why not tax illegal drugs by making them legal too. This frees up law enforcement and makes drug user pay tax on what they buy. Consider that this country loves to spend it would work wonders.
2007-12-17 12:45:41 · answer #3 · answered by Your #1 fan 6 · 1⤊ 0⤋
The problem with a flat rate tax is that it would unduly tax the lower income levels, while giving a goodly pass to those with higher incomes.
Those with lower incomes already struggle. You want to tax them even MORE ?
2007-12-17 15:28:06 · answer #4 · answered by acermill 7 · 1⤊ 0⤋
I think an Income tax in inherently flawed.
Taxing income taxes Productivity and innovation.
The Fair Tax is a tax on consumption of new products and services. It replaces all Federal taxes and withholding. If you buy you pay. If you want to cut your taxes, buy less or buy used!
www.fairtax.org
2007-12-17 12:45:17 · answer #5 · answered by MP US Army 7 · 1⤊ 1⤋
Everyone pays the same amount for televisions, cell phones, refrigerators, cars, airplane tickets, lunch boxes, jeans, etc. A tax on goods just hurts the poor and middle class. Surely you can see why. How many cars will be sold with a 23% sales tax on them?
Fair tax = Flat tax
With what you're proposing the country would go broke faster than it's going now. We currently go 1.49 billion dollars per day in the hole.
2007-12-17 12:40:35 · answer #6 · answered by Zardoz 7 · 3⤊ 3⤋
OK . My position is the vastly superior Fair Tax.
All you fairtax bashers- would you at least read the plan before you judge it. Prices DO NOT INCREASE 23% under the plan. Embeded taxes people.
2007-12-17 12:39:21 · answer #7 · answered by Michael 6 · 2⤊ 1⤋
First you would have to define a flat tax? I don't want to lose my mortgage deduction, my retirement savings deduction or my charitable contribution deductions - most flat taxes allow for no deductions. Such a tax would devastate the housing economy which is already beat up pretty bad.
2007-12-17 12:39:30 · answer #8 · answered by netjr 6 · 1⤊ 4⤋
I agree. OR a consumption tax.
2007-12-17 12:38:38 · answer #9 · answered by Chi Guy 5 · 1⤊ 3⤋