Μολὼν λαβέ;1060902671 said:I would prefer the"vote Obama out of office" debt reduction plan.
Sorry, but Romney will spend just as much. He doesn't have the backbone to cut spending. He can't stand up to the corporate interests that are demanding it.
Μολὼν λαβέ;1060902806 said:So give Obama another four years? :lamo
Initially I did...but now I realize just how much the middleclass and the poor have been hammered...now I support obamas plan...
Thats 3 yrs ago stuff....they have put forth a plan since then...but you already know that ....the evidence is all around you Cpwill the rich need a tax increase and the middleclass and poor need the break this time... but you know that too
No Country Leans On Upper Income Earners As Much As The US
and before you start bringing it up, that's counting both payroll and income taxes
What we need is not a system that tries to take from one at the expense of another, or raise ones' burden to lower anothers'. What we need is a tax system that is simple and sane, instead of our current spaggetti mess.
CPWill the evidence that your last statement is total utter nonesense is all around you...ive posted dozens of factual links showing just how bad the middleclass has been pummeled and how its shrunk and the ranks of the poor have risen all the while the american richest have gotten fabulously richer.
Oh I agree. That just doesn't happen to flow from taxes, but rather from the fact that poor national economic decisions (such as those being made by the current administration) will always disproportionately harm those least able to protect themselves.
i'd support moving all of the tax brackets back to 1990s levels.
Why not completely redo the entire tax system, making it simple to understand and implement and removing most of the deductions and convolutions in the system?
Why not completely redo the entire tax system, making it simple to understand and implement and removing most of the deductions and convolutions in the system?
sure, as long as the end result is not regressive.
i doubt we'll see it in our lifetimes, though. those deductions and convolutions were paid for by a lot of lobbying. also, what is considered a "loophole," and which loopholes do we eliminate?
All of them.
Basically, for income tax, a flat tax of around 25% for all with a maximum of 5% reduction for donation to charity. Adjust tax rate for all as necessary. Capital gains, inheritance, etc, are income. No earned income credit, no family credit, no marriage deduction, etc. At the end of the year, you earned x number of dollars during the year after including losses and then give the government 25% of it.(or whatever other rate meets our needs).
For Corporations, lets say around 15% for those who have 5% or less profits, 25% for those with between 5-10% profits, 35% for those earning between 10-20% profit and 75% for any corporation earning greater than 20% profit. Taxes apply for only those profits earned in the United States, it's territories or protectorates.
Tariffs are applied equal to what the other country taxes our products entering their country. If there is a relief of tariffs if the company produces in the US, it is only applied to those products produced in the US. If someone like Toyota only assembles in the US, then we tariff the parts coming in but not the finished model assembled here.
Government spending is reduced to only those items which are a benefit to all Americans, not a limited number of them. Since Social Security and Medicare are separate tax items, independent of federal income tax withholdings, then they are separated from governments direct control. Like the post office, the government sets it up, but then only chooses it's head and cannot take anything from it. If the final analysis shows that simply buying all seniors and disabled persons a private insurance policy with acceptable co-pay is more cost effective, then we do that instead of the government running the whole show and making the mess of it as they have.
a flat 25 percent tax is incredibly regressive. you're basically proposing a massive tax cut for the top tier and a massive increase for the bottom. (edit to indicate that i just noticed that you included capital gains as income, so that brings down the tax cut for many at the very top.)
as for corporations, i don't have a problem with allowing businesses to deduct expenses and losses. i'd propose undercutting the lower rates in Europe, but ensure that every corporation actually pays that low rate.
Marine the harm thats been done to the middleclass and poor did NOT happen in the last 3.5 yrs it started in 1981