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Thread: The "fair and resonable" tax proposal

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    Veteran Member bonehead's Avatar
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    The "fair and resonable" tax proposal

    well, here's your chance to discuss a new tax plan for America. now, I'm not saying this is the best tax proposal ever, it's a fair and reasonable approach to taxes. this has everybody with a stake in the system without an attempt to punish anyone else. it doesn't have a "rich tax" to unfairly attempt to re-distribute wealth. maybe it's too simple - but that's what discussions are all about.

    for all citizens:
    income is considered any compensations received from others. plain and simple. wages, stock options, payments by others for goods or services for you - all included.

    for employees:
    all compensations are taxable in excess of $ 40,000 for individuals, $60,000 for families or individuals with dependents. individuals are subject to 10% tax stating from $0 to cover medicare and medicaid up till the limit based on current standards. after the excess deductible, all compensation will be taxed at 25% in excess of such applicable excess deductible. the EITC will be eliminated. there will be no deductions or exemptions for individuals.

    for employers:
    all businesses get the $60,000 deductible. they may deduct the actual cost of labor and raw materials used in their business. they may also deduct all compensations paid to employees for benefits. they may not deduct the 10% matching contribution for social security and medicare. all income from business will also be taxed at 25% for income over the deductible.

    so, there it is. it's not a tax plan - it's a proposal for discussion.

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    Galactic Ruler Spookycolt's Avatar
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    How about this.

    We remove every tax law from the books.

    From now on everyone and every business pays a 15% tax on all income earned every year.

    The only ones exempted are those who get Social Security.

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    Veteran Member bonehead's Avatar
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    Quote Originally Posted by Spookycolt View Post
    How about this.

    We remove every tax law from the books.

    From now on everyone and every business pays a 15% tax on all income earned every year.

    The only ones exempted are those who get Social Security.
    does that 15% include the current 8% for SSA and medicare?

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    Galactic Ruler Spookycolt's Avatar
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    Quote Originally Posted by bonehead View Post
    does that 15% include the current 8% for SSA and medicare?
    Nope.

    Just a straight 15% tax on everyone. We could discuss the actual number but no loopholes and no way to avoid the tax. It would be far more than enough to pay for SS or Medicare.
    Thanks from TNVolunteer73

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    Veteran Member bonehead's Avatar
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    Quote Originally Posted by Spookycolt View Post
    Nope.

    Just a straight 15% tax on everyone. We could discuss the actual number but no loopholes and no way to avoid the tax. It would be far more than enough to pay for SS or Medicare.
    we are not too far different. my idea allows for the starting workers to catch a break up to a modest limit (subsistence level) and yours doesn't. but, our lines of thoughts are similar.

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    Quote Originally Posted by Spookycolt View Post
    How about this.

    We remove every tax law from the books.

    From now on everyone and every business pays a 15% tax on all income earned every year.

    The only ones exempted are those who get Social Security.
    I have a better one. If you live in poverty you pay nothing because you can't.
    If you have a modest income you pay a modest income tax.
    If you are incredibly rich you pay an incredibly high tax rate.

    If the govt runs a deficit all those taxes go up and if we have a surplus it goes down. We pay our fucking bills.

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    Galactic Ruler Spookycolt's Avatar
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    Quote Originally Posted by Pragmatist View Post
    I have a better one. If you live in poverty you pay nothing because you can't.
    If you have a modest income you pay a modest income tax.
    If you are incredibly rich you pay an incredibly high tax rate.

    If the govt runs a deficit all those taxes go up and if we have a surplus it goes down. We pay our fucking bills.
    That leads to the same shit we have now.

    An overly complicated tax code.

    Just 15% straight across the board. Never modified and never changes.

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    Veteran Member bonehead's Avatar
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    Quote Originally Posted by Pragmatist View Post
    I have a better one. If you live in poverty you pay nothing because you can't.
    If you have a modest income you pay a modest income tax.
    If you are incredibly rich you pay an incredibly high tax rate.

    If the govt runs a deficit all those taxes go up and if we have a surplus it goes down. We pay our fucking bills.
    please define your classifications by income level, if you don't mind.

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    Veteran Member bonehead's Avatar
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    Quote Originally Posted by Spookycolt View Post
    Nope.

    Just a straight 15% tax on everyone. We could discuss the actual number but no loopholes and no way to avoid the tax. It would be far more than enough to pay for SS or Medicare.
    just a question, here. has you - or have you had anyone - run the numbers to see how the revenues will turn out on your tax ideas?

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    Galactic Ruler Spookycolt's Avatar
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    Quote Originally Posted by bonehead View Post
    just a question, here. has you - or have you had anyone - run the numbers to see how the revenues will turn out on your tax ideas?
    I have not.

    The point I was making was a pure flat tax on everyone. As I said, that 15% number could be adjusted if need be.

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