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So what you're really calling for is a flat rate tax? Well, if you impose a flat rate tax, in
practice it's going to mean taking a lot loss from those at the upper end of the income scale. So to
compensate from that you're going to have to take a lot more from those at the lower end of the
income scale. It therefore amounts to a substantial tax increase on those least able to bear it. |
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US tax laws are written to enable the wealthy to avoid paying taxes. The burden of taxes paid by
the wealthy has dropped to the point where they might as well not be paying taxes, period. In 2007,
the bottom 99% of taxpayers paid 85% of the taxes, yet earned less than 10% of the total wealth.
The solution is simple: A flat 15% tax on every dollar earned for incomes under $200,000, and 24%
for higher incomes, regardless of whether that is in wages, salaries, stock dividends, bonuses, or
whatever (that means corporations pay too). Take note that those tax rates are lower than
the rates people currently pay. The problem isn't the amount of revenue or the rich "not paying
their fair share", the problem is the wealthy aren't paying, period.
US tax rates by gross income:
Www.irs.gov/formspubs/article/0,,id=164272,00.html
The US's GDP (the gross income of business and individuals) was US$13.84 trillion (source: CIA World
Factbook). If the bottom 10% of income (US$1.384t) paid a flat 15% tax and the top 90% of income
paid 24%, that would net approximately US$3.1 trillion in taxes collected, larger than the current
US budget of $2.8 trillion. The money is there, the rich just aren't paying.
Read here for more:
Www.financialsense.com/editorials/benson/2008/0730.html |
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 K9  20 Sep 2008 13:24
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No, it is broken beyond repair. I do sales tax, payroll tax and income tax forms all year long. I
also work for the wealthy as well as middle class. Hidell's statements about the fair tax could not
be more wrong! |
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It doesn't matter if its good or bad. Its just tax code, it merely tells us how to file our taxes.
Has anyone here actually seen the law that says you need to pay an income tax? Could you recite the
statute and punishment for breaking such a statute? I know there is one for not filing a return, but
there isn't one saying they can tax your labor . As any tax on labor is considered a direct tax and
needs to be apportioned by all the states which it is not. And just as a little *footnote* in the
tax code itself, it refers to paying income tax as being "voluntary compliance". If its voluntary
what gives them the right to seize all your assets and throw you in jail? |
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No i hate the code |
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The current tax code book has nearly 70,000 pages. Tax laws should be more transparent to tax
payers; simplified.
"Merrill Lynch and Co. Inc. Of New York spends more money on modernizing its IT systems with 3
million customers than the IRS does with 136 million taxpayers, and that is a huge problem."
Former IRS commissioner Charles Rossotti said.
The IRS is grossly inefficient and complicated, costing nearly 12 billion dollar a year to operate,
so in essence you are paying taxes on paying taxes.
It's time to scrap the IRS for a more efficient and transparent operation that taxpayers can
understand.
Remember, we founded this country because of unfair taxes laid upon the U.S. From the British crown,
now our own government is taxing us through an inefficient and overly complex system that is failing
to modernize. What happened to transparency in government agencies? |
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I think in such a Modern Country as the US I think filing an individual income tax form is much too
complex. I am in favor of Progressive Taxes, but the Fair Tax would be a progressive tax. And if we
must tax income instead of consumption, I'd rather have a simple equation to plug my income into and
calculate in one equation my tax debt to the US Gov. But instead I need to read through countless
poorly-phrased questionaires written by the IRS all of which are there to determine how much I own.
Simpler is Better! |
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