The left's claim lowering taxes only benefits the rich, is economic ignorance.

[BowmanMike]

2 hours ago, squirrelwhisperer said:

My proposal is simple:

10-15% across the board no matter who you are and no matter what you make. If the mega rich were made to pay the same percentage rate I pay, that's a win. At the same time, I pay less. That's win-win in my book and nobody can complain. 

Scary thought squirrel,but we just about agree on this. I would propose three tax rates and no write offs. If there are no loopholes to exploit the super wealthy would pay a lot more in taxes then they do now.

But that will never happen because the top billionaires will do whatever they can to avoid that becoming law. It is way to transparent.

[Northcountryman]

1 minute ago, BowmanMike said:

Scary thought squirrel,but we just about agree on this. I would propose three tax rates and no write offs. If there are no loopholes to exploit the super wealthy would pay a lot more in taxes then they do now.

But that will never happen because the top billionaires will do whatever they can to avoid that becoming law. It is way to transparent.

You'd be surprised how much people on both sides of the political spectrum actually agree; where they differ is , how to go about getting there.

[BowmanMike]

1 minute ago, Northcountryman said:

You'd be surprised how much people on both sides of the political spectrum actually agree; where they differ is , how to go about getting there.

People might agree but the politicians never will for the reason I mentioned. They are too beholden to the powerful.

[GreeneHunter]

Whatever happened to the Idea of 10 % Flat Tax and no write - offs ?

[DoubleDose]

7 hours ago, Splitear said:

A few months ago I saw three people at the casino wearing the exact same “Lions Not Sheep” shirt to one of our gigs. I can’t help but chuckle at the irony. 

Perhaps they were a pride of lions; to give them the benefit of doubt. 

[Nomad]

The “ wealthy “ don’t pay income tax, it’s capital gains , as that’s how they structure their cash flow .

[DoubleDose]

2 hours ago, BowmanMike said:

Scary thought squirrel,but we just about agree on this. I would propose three tax rates and no write offs. If there are no loopholes to exploit the super wealthy would pay a lot more in taxes then they do now.

But that will never happen because the top billionaires will do whatever they can to avoid that becoming law. It is way to transparent.

This is so true.  A friend with an MBA said the fairest way, and the Fed will get more money, is a flat no exemption or deduction tax.  Let's say 10%.  Whatever you make, whenever and wherever you make money 10% is for Uncle Sam payed immediately.  If you lose money, take a loss, that is on you and not Uncle Sam.  The 10% could be taken at payroll (like now), bank, brokerage account, etc.  Think how simple tax season would be too.  This is the same business model organized crime uses.

[DoubleDose]

4 minutes ago, Nomad said:

The “ wealthy “ don’t pay income tax, it’s capital gains , as that’s how they structure their cash flow .

Correct.  IRS recognizes earned income versus unearned income.  In a true flat tax scheme there would be no differentiation.

[Splitear]

1 hour ago, DoubleDose said:

Perhaps they were a pride of lions; to give them the benefit of doubt. 

Maybe, whatever it is, more power to them I guess. 

[Splitear]

1 hour ago, DoubleDose said:

This is so true.  A friend with an MBA said the fairest way, and the Fed will get more money, is a flat no exemption or deduction tax.  Let's say 10%.  Whatever you make, whenever and wherever you make money 10% is for Uncle Sam payed immediately.  If you lose money, take a loss, that is on you and not Uncle Sam.  The 10% could be taken at payroll (like now), bank, brokerage account, etc.  Think how simple tax season would be too.  This is the same business model organized crime uses.

Plus, it would be great if folks didn’t need to hire professionals to figure out how much taxes they owe, which in itself is one more cost incurred by the average tax payer. 

[Grouse]

I'm not as concerned with making people pay more taxes as I am with making the government spend less money.

The more tax revenue the government gets, the more it will spend.  No matter how much people pay in taxes, the government will continue to run up the national debt.

It's time people started to realize, taxation has become the government's way of controlling everything.

[Grouse]