external revenue service

[neurosis]

Only works on people that don't understand 3rd grade math

Oh please, Mr Mathematician. Tell us what the flat tax percentage would have to be to generate the same revenue that we're taking in under the current system.

[mkd]

Oh please, Mr Mathematician. Tell us what the flat tax percentage would have to be to generate the same revenue that we're taking in under the current system.

Eeeewww who'd want to maintain the same level of corruption and waste???

[neurosis]

Eeeewww who'd want to maintain the same level of corruption and waste???

That's tough to argue with.

[mowens]

You can't just say flat tax is good or flat tax is bad, IMO. You have to examine the bill as a whole.
What goes along with it? Will there truly be no deductions? What will the percentage be? Will it affect everyone or will there be a poverty line below which there would be no tax or there would be a reduced rate? How will it be implemented?

[neurosis]

You can't just say flat tax is good or flat tax is bad, IMO. You have to examine the bill as a whole.
What goes along with it? Will there truly be no deductions? What will the percentage be? Will it affect everyone or will there be a poverty line below which there would be no tax or there would be a reduced rate? How will it be implemented?

That's a good point.

Typically when I see a flat tax being discussed, it's about easier tax code (removing removing tax loopholes etc), the poor not paying any taxes, getting rid of the IRS...

Can you give me an example of how it would be possible to implement a flat tax without more of the tax burden falling on the middle and lower middle class? People who are already struggling to pay their mortgages, medical bills, save for retirement, etc? Take the lower class out of the equation.

Even if you look at someone like Ben Carsons idea of a 15% flat tax, wasn't part of his plan to implement a Federal consumption tax? (tariffs anyone?)  Now were back to the "who does this affect more" discussion. You might as well just raise the taxes on the lower class at that point.

And let me frame this a little differently: Every flat tax proposal I've ever seen reduces taxes on the wealthiest Americans by a good amount. Who is going to make up that difference? We would have to see some pretty drastic spending cuts just to get the deficit under control. 

[mkd]

Prior to 1880, nearly everyone was a serf. Since tariffs were de rigueur from then until the 1950s, USA's greatest timeframe, one can conclude it will build great wealth going forward as a primary funding means

[mkd]

I really need REKO here 😁

[neurosis]

Prior to 1880, nearly everyone was a serf. Since tariffs were de rigueur from then until the 1950s, USA's greatest timeframe, one can conclude it will build great wealth going forward as a primary funding means

If that were true, wouldn't you think that it would be easy for everyone would come to that same conclusion?

[Incogneeto]

Prior to 1880, nearly everyone was a serf. Since tariffs were de rigueur from then until the 1950s, USA's greatest timeframe, one can conclude it will build great wealth going forward as a primary funding means

In Other words Limit Federal Government over reach.

Now figure out state Taxes and county Taxes and Local Taxes.

That is where The poor are disadvantaged.

[mkd]

If that were true, wouldn't you think that it would be easy for everyone would come to that same conclusion?

[neurosis]

In Other words Limit Federal Government over reach.

Now figure out state Taxes and county Taxes and Local Taxes.

That is where The poor are disadvantaged.

Washington State just recently lost it's title for being the most regressively taxed State in the Nation. Guess who it lost to.  Florida.    I would have never saw that coming.

[Incogneeto]

You Buy a car , Taxed.

Sell a car , Buyer is taxed.

He sells it , Buyer is Taxed.

Same car.

Not just DMV fees , They are all taxed for the same car.

[mowens]

That was another question I have; will there be any new taxes implemented?

I have done zero (I was gonna say almost zero but, no, zero is correct) research on the flat tax, but I always heard that the elimination of tax breaks would increase the amount that high earners actually pay. Also, would this include businesses?

I really need REKO here 😁

[neurosis]

I have done zero (I was gonna say almost zero but, no, zero is correct) research on the subject, but I always heard that the elimination of tax breaks would increase the amount that high earners actually pay. Also, would this include businesses?

I've probably done 30 minutes more research than your 0. At least recently.

I was on the other side of this argument 10 years ago.

[mkd]

That was another question I have; will there be any new taxes implemented?

I have done zero (I was gonna say almost zero but, no, zero is correct) research on the flat tax, but I always heard that the elimination of tax breaks would increase the amount that high earners actually pay. Also, would this include businesses?

My corporate taxes went up with Trump's 2017 tax law. Eliminated deductions so the min was 21%