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What is a "fair tax" for the bottom 50%

vegas giants said:
True. But we will never have a flat income tax on America
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Think again. When you have taxed the rich outta the country you will have no choice. Either that or you will have to cut your freebies.
 
Crystal said:
Here’s why! Because no matter how much the rich pay it’s never enough is it.
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We can tax the rich enough to close a considerable portion of the budget gap... but it would require greater progressivity up to a far higher maximum income threshold, and then it would need to be indexed to inflation.

The liberals keep dreaming up new and extravahant schemes to tax the rich more.
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The overwhelming majority of income growth has gone to the top earning quintile (this should be intuitive).

A fair flat tax is fair because everyone pays the exact same rate no exceptions and you’ll never hear the poor or the liberals scream for tax hikes ever again.
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The bold is your reasoning as to why you find a 25% flat tax fair?

:lamo
 
Crystal said:
Think again. When you have taxed the rich outta the country you will have no choice. Either that or you will have to cut your freebies.
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Not going to happen. It never does
 
Crystal said:
Think again. When you have taxed the rich outta the country you will have no choice. Either that or you will have to cut your freebies.
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Ahhh, this year's dose of beggar-thy-neighbor/mercantilist confusion.
 
Crystal said:
Here’s why! Because no matter how much the rich pay it’s never enough is it. The liberals keep dreaming up new and extravahant schemes to tax the rich more. A fair flat tax is fair because everyone pays the exact same rate no exceptions and you’ll never hear the poor or the liberals scream for tax hikes ever again.
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There’s nothing particularly fair about a flat tax especially when you get into things like effective tax rates.


Crystal said:
Think again. When you have taxed the rich outta the country you will have no choice. Either that or you will have to cut your freebies.
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That line has always amused me. Where exactly is it that you think rich people will go to escape high tax rates? Other than some cholera ridden third world hell hole where they’re likely to be kidnapped for ransom or chopped up by a cartel?
 
Kushinator said:
We can tax the rich enough to close a considerable portion of the budget gap... but it would require greater progressivity up to a far higher maximum income threshold, and then it would need to be indexed to inflation.



The overwhelming majority of income growth has gone to the top earning quintile (this should be intuitive).



The bold is your reasoning as to why you find a 25% flat tax fair?

:lamo
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The rich don’t have enough money to fulfill you freebie list. Dream on.
 
Napoleon said:
There’s nothing particularly fair about a flat tax especially when you get into things like effective tax rates.




That line has always amused me. Where exactly is it that you think rich people will go?
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Anywhere they want to.
 
vegas giants said:
How nice. They all still pay US taxes. Duh
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Yeah, so why do you think it is they don’t move there now for an alleged zero tax rate? Maybe because surrendering your passport and living under the thumb of some military junta is too high a price for zero tax liability?
 
CriticalThought said:
In another thread a conservative poster made this argument...



That makes little sense to me. Not even as a matter of fairness but as a matter of simple math.

The total Adjusted Gross Income of the country is about $11 trillion. The top 50% has about $10 trillion and the bottom 50% had about $1 trillion. We spend, as a country, about $1.5 trillion in income taxes. About 97% of that is covered by the top 50% and the remaining 3% by the bottom 50%.

My question is how much would the bottom 50% have to pay for it to be fair?

Nominally speak, half of $1.5 trillion is about $750 billion. That means the bottom 50% would have to pay 75% of their combined income to cover half the country's tax burden.

Keep in mind that to be in the bottom 50%, you have to make less than $40,000 a year.

So are the folks who are making $40,000 a year "living off the government teet" if they are not contributing $30,000 a year (75%) to income taxes? That is how I interpret the quote above. The poster is claiming that those who pay little or no taxes are a burden.

I can't figure out what a "fair share" tax for the bottom 50% would look like to conservatives. The top 50% will always pay more, which means no matter how much the bottom 50% pays, it will never be enough.
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as a conservative...let me give you MY answer

everyone should have some skin in the game....and i am talking FIT

we can start the percentage as low as 5%

we can gradually increase the % so everyone gives a "fair" share

here would be my tax table

0-40k 5%
40001-60k 12%
60001-90k 18%
90001-150k 25%
150001-375k 30%
375001-3 million 38%
3 million + 43%

no deductions other than dependants....

we simplify the tax code to where a 4th grader can fill out the form
 
Napoleon said:
Yeah, so why do you think it is they don’t move there now for an alleged zero tax rate? Maybe because surrendering your passport and living under the thumb of some military junta is too high a price for zero tax liability?
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Its ridiculous
 
gdgyva said:
as a conservative...let me give you MY answer

everyone should have some skin in the game....and i am talking FIT

we can start the percentage as low as 5%

we can gradually increase the % so everyone gives a "fair" share

here would be my tax table

0-40k 5%
40001-60k 12%
60001-90k 18%
90001-150k 25%
150001-375k 30%
375001-3 million 38%
3 million + 43%

no deductions other than dependants....

we simplify the tax code to where a 4th grader can fill out the form
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This would be a tax increase for most Americans. I'm not necessarily against it but those numbers would vastly increase revenues
 
vegas giants said:
This would be a tax increase for most Americans. I'm not necessarily against it but those numbers would vastly increase revenues
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yes they would

and we need to DECREASE spending along with that

we cant keep increasing the debt...it will implode eventually
 
gdgyva said:
yes they would

and we need to DECREASE spending along with that

we cant keep increasing the debt...it will implode eventually
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I am talking about a very vast increase over current effective tax rates. This could easily double our current tax revenue and probably create a recession if not depression
 
Crystal said:
The rich don’t have enough money to fulfill you freebie list. Dream on.
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The deficit is simply a reflection of a revenue/expenditure imbalance. If we are serious about cutting the deficit, we must increase revenue. The top 10% of income earners take in roughly 40% or $8 trillion in national income. If the federal government could derive an additional $800 billion (roughly 10%) from this decile, the budget gap will decrease considerably.
 
Tbird19482 said:
if would be fair IF you could deduct what it costs a year to raise a child
it is est. that it costs between 13 to 15000 a year so if you could deduct 14,000 a year per child a family with 2 kids could deduct 28000 a year 4000 more then the standard deduction is now.
a family of 5 could deduct 42,000 a year
and as I said a 10% tax rate
have a nice day
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So I get punished and have to pay more taxes.. because I don't have as many children as my neighbor?

That makes no sense.
 
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