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Thread: Thought regarding a tax system

  1. #11
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    Re: Thought regarding a tax system

    I am basically supportive of the hypothetical tax structure. I would make 2 changes:
    • a zero baseline set to the poverty level and that group would pay a small flat tax rate
    • the other baseline be set as multiple of the poverty guideline. This would add the flexibility to the system to adjust to changing economic conditions over time.
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    Re: Thought regarding a tax system

    We live on a private road. (Not because we want to, but because when the township was established it didn’t want it.) It needs paving and bridge work. We don’t get a property tax break because we have a private road. So, would we have to pay consumption tax on the paving materials? BTW, there are only disadvanteses to havinh our house on a private road rather than a township one.
    Last edited by OhIsee.Then; 10-17-11 at 02:05 PM.

  3. #13
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    Re: Thought regarding a tax system

    Quote Originally Posted by OhIsee.Then View Post
    We live on a private road. (Not because we want to, but because when the township was established it didnít want it.) It needs paving and bridge work. We donít get a property tax break because we have a private road. So, would we have to pay consumption tax on the paving materials? BTW, there are only disadvanteses to havinh our house on a private road rather than a township one.
    So you have a long driveway and you want other people to pay for it's maintenance.

    .

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    Re: Thought regarding a tax system

    Quote Originally Posted by OhIsee.Then View Post
    I need new roofing on one of my homes. If I get a small time roofer, my neighbor is one, to buy the materials does he pay the tax on that?
    Not sure what state your in, but here today in SD he would pay a 6% tax, yes.

    Quote Originally Posted by OhIsee.Then View Post
    If he does my roof with those materials, who sells them to me?
    The materials are not resold, they are used. They literally become part of your home.

    Quote Originally Posted by OhIsee.Then View Post
    Do I pay the tax again with tax on tax?
    Your roofer does not sell you the materials. The roofer buys the materials, uses them of your house, and then bills you the cost.

    Quote Originally Posted by OhIsee.Then View Post
    How much could he charge me?
    Industry standard is to give the homeowners copies of all receipts of materials on-demand to justify that charge on the contractor's bill. You have a legal right to that information.

    Quote Originally Posted by OhIsee.Then View Post
    A big discount below his purchase price would be nice.
    All costs are passed on to the consumer. It's your house.

    Quote Originally Posted by OhIsee.Then View Post
    Would it be better for me to buy the materials and pay the tax just once?
    In many cases, yes. In fact it's not unheard of for a homeowner to wish to buy all materials themselves to control costs. This can exceedingly complicate medium to larger home projects, even if a few dollars are saved, it may not end up being worth it.

    Quote Originally Posted by OhIsee.Then View Post
    If I buy the roofing materials in Mexico (I have a PU and a trailer that carries over a ton.) how much tax do I pay?
    Whatever their tax rate is. Hey if you can find cheaper meds in Canada, let me know so I can shop there also.

    Quote Originally Posted by OhIsee.Then View Post
    If I buy a car and claim I’m a part time taxi service how much tax do I pay?
    20-25% on the price of the car, and that total value becomes the value of that capitol asset for your small business, which it needs to figure depreciation for when calculating what you will set your fees at.
    Last edited by Jerry; 10-17-11 at 02:21 PM.

  5. #15
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    Re: Thought regarding a tax system

    Quote Originally Posted by Zyphlin View Post
    Okay, crazy thought in my head regarding a tax system.

    Liberals generally like a progressive tax that has the higher incomes paying a significantly higher amount and that is light on the poorer ones.

    Conservatives generally are wanting to have everyone have some skin in the game and avoid situations where only one bracket is getting played with due to mob rule.

    So what if we did this. We set 6 brackets and they are unmovable. Bracket 1 is our baseline bracket with each other bracket being X times higher than the baseline bracket. That number (X) can not be changed, and individual brackets can not be changed. The only way to change the tax is to affect the baseline bracket. It would look like this

    1) $0 - $24k . . . . . . . 1 (baseline)
    2) $24k - $72k . . . . . . Baseline * 2
    3) $72k - $144k . . . . . Baseline * 4
    4) $144k - $240k . . . . Baseline * 6
    5) $240k - $360k . . . . Baseline * 8
    6) $360k + . . . . . . . . Baseline * 10

    The only deduction would be from Chlidren. Your baseline is reduced by 6% per child (may of 4 children), with that 6% going down by 1 for each bracket you're in. So Bracket 1 would get the full 6% per, bracket 3 would be getting 4%, and bracket 6 would be 1% per.

    From there, politicians can still argue over taxes but only in regards to changing the baseline. If you want the upper bracket to pay 70% you can, however the poor will be paying 7% and middle class will be paying between 14% and 28%. Want to make the upper income brackets pay under 30%? Then the poor is going to be paying less than 3% taxes and the highest middle class tax would be under 12%.

    This would eliminate the ability for politicians to play to any particular base, pitting them against the other. Whether that be convincing everyone to go after the "rich" or doing a "pay off" to the wealthy by lowering their taxes. It would interject a bit of stability into our tax rate system as well and make it slightly less of a constant politicla issue. It'd also simplify the tax code immensely.

    You could set Capital Gains at say Baseline * 5 and leave it at that, taking Capital Gains also off the table as a political tool. Ditto for setting something like the Corporate Tax (Base * 5 as well)?

    So, what would your thoughts of this generalized tax scheme be? Like it? Dislike? Like the theory but not the numbers? Also, what would you push for the starting baseline to be?
    I would support an income tax like the one you described, with the numbers you described (where the tax rate on the wealthy was 10 times more than the tax rate on the poor). I don't agree with the capital gains tax and corporate tax plan though. I'd rather eliminate corporate tax entirely, and offset that by taxing capital gains at the normal income rate.
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  6. #16
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    Re: Thought regarding a tax system

    Quote Originally Posted by OhIsee.Then View Post
    [SIZE=2]This is to be a tax rate on what kind of income.
    Whatever income our current income tax system considers income.

    Are there any deductions?
    Outside of the small deduction for children, no.

    As to your back and forth about consumption taxes, could you all perhaps take that to another thread rather than turn this one into a thread about consumption taxes?

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    Re: Thought regarding a tax system

    Quote Originally Posted by pbrauer View Post
    How is this proposal much different in concept than the current tax table?
    The current tax table allows for individual brackets to have just their own percentage be changed without any effect on any other bracket and each bracket can be changed without changing the others. The one I suggested you can only change the baseline tax rate, which then changes EVERY other tax rate, and to change the brackets would require scrapping the entire system because individual brackets are unchangable.

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    Re: Thought regarding a tax system

    Quote Originally Posted by liblady View Post
    this could be workable, but would it be the same as we have now, say, if you made 75k, you would be taxed at baseline * 2 for 72k, and baseline * 4 for the additional 3k? otherwise, there actually would be a huge disincentive to jump into the next bracket and would not seem to be fair at all.
    Yes, just like the current. So income up to each bracket is taxed at that bracket.

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    Re: Thought regarding a tax system

    Quote Originally Posted by TOJ View Post
    So you have a long driveway and you want other people to pay for it's maintenance.

    .
    No, we have about 20 homes on this private drive. Itís about 3000 feet long because of a long curve and bridge that doesn't need to be there if it was public. The density matches another township road I can see from my house, i.e. it's typical for the area. I also have a long driveway that I pay to maintain.

  10. #20
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    Re: Thought regarding a tax system

    ok......whay haven't any righties voted?

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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