View Poll Results: Tax Reform

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  • Yes - Here is my suggestion

    20 64.52%
  • No -

    2 6.45%
  • The current system should be abolished

    9 29.03%
  • Other

    0 0%
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Thread: Revisit - Tax Reform

  1. #11
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    Re: Revisit - Tax Reform

    Laid out in the Loft - Negative Income Tax to replace all welfare spending, flat tax on all income above 200 percent of the poverty line in order to make income taxes perfectly progressive.

  2. #12
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    Re: Revisit - Tax Reform

    "Realistic" is the hard part. We don't know what will become realistic ten or fifty years from now.

    A benign evolutionary sequence would look something like this, from where I sit:

    (1) elimination of loopholes and deductions, dramatic simplification, flattening (from the bottom); focus on the national debt reduction puts breaks on further experimentation;

    (2) transition to a national consumption tax (food, home fuel and drugs excluded),

    and, assuming substantial success of (1) and (2), including elimination of national debt -

    (3) phasing out individual taxation, replacing it with a mix of: income from the sovereign wealth fund(s), user fees (which may be in form of consumption tax retained for particular items), lotteries, tariffs etc.

  3. #13
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    Re: Revisit - Tax Reform

    Quote Originally Posted by TheGirlNextDoor View Post
    Does our taxation system need an overhaul - and if so - which system could realistically take its place.
    I like the idea of flat tax.It would probably hurt me but everybody should pay.

    If they did a deduction of 3000 or whatever would be fine.Don't know what dollar amount
    would be needed.

  4. #14
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    Re: Revisit - Tax Reform

    The current system should be abolished, and the why is obvious. Since we still have to fund govt somehow, the only fair way is to make every citizen pay an equal amount, much like we do at the state level for property owners (though it based on value, which is wrong).

    -Every person above 17 who has a social security number owes X dollars per year, which they can have deducted from their paycheck, or pay in a lump sum
    -We would obviously have to have a graduated scale for those too poor to afford, perhaps a way to provide a service to govt instead of dollars (ie military should not have to pay)
    -at our current spending level, this is about 12k per person (which is coincidentally what I already pay)

    Obviously this wont work because liberals would not put up with the rich being treated equally, so I would need to move to a Libertarian run island with smaller govt and thus smaller tax cost (where we murder puppies).

  5. #15
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    Re: Revisit - Tax Reform

    Quote Originally Posted by Dooble View Post
    Go strictly fair tax. The more you purchase, the more you pay in taxes. No IRS, no liberal busybodies, just automatic deposits into government accounts after purchases.
    While its a better solution, its still technically unfair because some people are paying more for the same services. For example, if you simplify govt down to providing everyone equally with security and justice, then everyone should pay equally for that service. As in everyone pays the same amount for water for example, regardless of how rich or poor you are (unless your poor and get subsidies, but you get the point).

  6. #16
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    Re: Revisit - Tax Reform

    Quote Originally Posted by jonny5 View Post
    While its a better solution, its still technically unfair because some people are paying more for the same services. For example, if you simplify govt down to providing everyone equally with security and justice, then everyone should pay equally for that service. As in everyone pays the same amount for water for example, regardless of how rich or poor you are (unless your poor and get subsidies, but you get the point).
    Actually the rich use much less government services and thus should pay much less. They tend to use private services which are more effective. We should have regressive tax rates that go to zero right around the upper middle class. Moreover, when the rich pay for private schooling, protection, etc., they should get a tax refund.

  7. #17
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    Re: Revisit - Tax Reform

    Quote Originally Posted by kenc View Post
    Actually the rich use much less government services and thus should pay much less. They tend to use private services which are more effective. We should have regressive tax rates that go to zero right around the upper middle class. Moreover, when the rich pay for private schooling, protection, etc., they should get a tax refund.
    True, but I was just going on an ideal where govt services benefit everyone roughly equally.

  8. #18
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    Re: Revisit - Tax Reform

    I want it to be difficult and complex as all hell. Just like the stockbroker probably was disgusted with e-Trade, I'm disgusted with people who think that I can be replaced by Turbo Tax.

    If I didn't have a dog in the hunt, I'd go for flat/Fair tax.

  9. #19
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    Re: Revisit - Tax Reform

    Quote Originally Posted by jonny5 View Post
    True, but I was just going on an ideal where govt services benefit everyone roughly equally.
    That's just bleeding heart liberalism. I say if I have to pay a million USD in taxes and some low-life minimum wage earner doesn't have to pay any, then I should get back a million USD in benefits and the minimum wage earner nothing.

  10. #20
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    Re: Revisit - Tax Reform

    Quote Originally Posted by kenc View Post
    That's just bleeding heart liberalism. I say if I have to pay a million USD in taxes and some low-life minimum wage earner doesn't have to pay any, then I should get back a million USD in benefits and the minimum wage earner nothing.
    Wrong. You misunderstood. It libertarianism where the govt only provides services that benefit everyone equally, like security and justice. And services that only some people use are fee based.

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