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Re: NO tax deductions ever said by openbox9:said by toby:Another reason why no company or person should be allowed tax deductions of any kind, ever. So you don't even claim your standard deduction? Without a total rewrite of our tax code, your wish simply isn't feasible. 10% flat tax. No deductions no credits, pay as you go. |
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 pnh102Reptiles Are Cuddly And PrettyPremium
join:2002-05-02
Mount Airy, MD | said by fifty nine:10% flat tax. No deductions no credits, pay as you go. That's a good first step, but the main problem is that like the current income tax it exempts people who don't report their income or who work under the table. I'd rather go with the FairTax or some other kind of national retail non-VAT sales tax... best part is everyone will pay something.
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"Net Neutrality" zealots - the people you can thank for your capped Internet service. |
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 Matt3All noise, no signal.Premium
join:2003-07-20
Jamestown, NC
kudos:12 | reply to fifty nine
said by fifty nine:said by openbox9:said by toby:Another reason why no company or person should be allowed tax deductions of any kind, ever. So you don't even claim your standard deduction? Without a total rewrite of our tax code, your wish simply isn't feasible. 10% flat tax. No deductions no credits, pay as you go. Is this just the Federal Tax Rate, or are you including all Federally Mandated Taxes like FICA (Social Security) and Medicare? |
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 elios
join:2005-11-15
Springfield, MO | reply to pnh102
said by pnh102:said by fifty nine:10% flat tax. No deductions no credits, pay as you go. That's a good first step, but the main problem is that like the current income tax it exempts people who don't report their income or who work under the table. I'd rather go with the FairTax or some other kind of national retail non-VAT sales tax... best part is everyone will pay something. issue with taxes like that is it makes every thing cost for for people on fixed incomes that were non-taxable in the first place
unless you plan to some how give these people more money in the first place |
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 tshirtPremium,MVM
join:2004-07-11
Snohomish, WA
kudos:3
 ·Comcast
| reply to fifty nine
said by fifty nine: 10% flat tax. No deductions no credits, pay as you go.
Make it around 20-25% and you could actually pay for what we have now and start to pay down (slowly) what we already spent.
let's allow 1 deduction, say $10-15k per person basic deduction, so a family of 4 gets the first $40-60 tax free, and flat rate on everything else
We would still be paying far less than the rest of the western world, and most would be far better off. |
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