Flat tax?

[NEOCON]

I believe there should be a flat tax across the board. Everyone pays the same Federal tax rate. I do not believe that people making over $373,000 per year should have to pay 35% to the federal government alone. What do you think and why?

[rmsmith]

what %'s are we talkin about?

[fl0at]

I couldn't afford the tax, regardless of the percent.

Student exemption? If not, I'd need another student loan.
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[rmsmith]

There's an easy way to avoid paying 35%. Make less than $373,650

[sjt18]

Originally Posted by Ihatethebuckeyes

I believe there should be a flat tax across the board. Everyone pays the same Federal tax rate. I do not believe that people making over $373,000 per year should have to pay 35% to the federal government alone. What do you think and why?

I like the Fair Tax idea much better but anything that simplifies the system is better than what we have. Our current system wastes 100's of billions on admin/collection/legal costs.

[sjt18]

Originally Posted by rmsmith

There's an easy way to avoid paying 35%. Make less than $373,650

IOW's, all pigs are equal... just some pigs are more equal than others, right?

One's success in life should not be subject to the arbitrary whims of politicians and bureaucrats.

[rmsmith]

Originally Posted by sjt18

I like the Fair Tax idea much better but anything that simplifies the system is better than what we have. Our current system wastes 100's of billions on admin/collection/legal costs.

You're right, fairtax is much better. IMO
Although it would still raise my tax considering my effective tax rate is approx 3%

[sjt18]

The Fair Tax is actually protects lower income people better than the current system and collects more from the genuinely wealthy... which is why it will probably never see the light of day.

[sjt18]

The Fair Tax is also supportive of conservation and environmental protection. It rewards those who buy used, fix things rather than buying new, and generally preserve/conserve what they have.

[NEOCON]

Originally Posted by sjt18

The Fair Tax is also supportive of conservation and environmental protection. It rewards those who buy used, fix things rather than buying new, and generally preserve/conserve what they have.

Your factoring in write offs and other deductions though. Alot of those loop holes have been closed. Plus you can no longer claim as much on charities.

[Rasputin_Vol]

Originally Posted by Ihatethebuckeyes

Your factoring in write offs and other deductions though. Alot of those loop holes have been closed. Plus you can no longer claim as much on charities.

I figured he was suggesting that the Fair Tax would re-open those loop holes???

[BeecherVol]

Im all for a donation program.

[milohimself]

If you're making that much and still paying 35%, you're a fool.

[gsvol]

Donate a can of Fix-a-Flat!

[sjt18]

The Fair Tax would not apply to purchases of existing homes or used cars IIRC. It would only apply to the purchase of new goods and services.

As far as I know, there would not be any "loop holes". It would apply to all new goods and services.