Tax Reform Thread

[SlowwHand]

No.

There is nothing wrong with a progressive tax system; the problem lies in all the complicated deductions and alternative minimum this and credit that, etc. etc. etc.

Make your taxes your taxes, and be done with it.

That's a flat tax, using more words.

[Drake Tungsten]

Obviously, this will never happen.

QFT. Sadly...

[rah]

The internet is responsible for a considerable loss of revenue for states. Some states try to recover the sales tax but enforcement and loopholes make it difficult. The original purpose was to encourage the internet. I really don't think that's a valid issue anymore. I think the internet is doing just fine. A national sales tax for internet sales would make a lot of sense. Instead of having to deal with 50 different set's of rates and rules, one set would be much easier to implement and administer. And at least for now, based on the demographics of people that shop on line, it would impact poor people less.
And most importantly, I think it would be more politically acceptable.

[Felch]

That's a flat tax, using more words.

No, it's different. Flat would be if everybody paid 20%. Guy is talking about simplifying the current code, but keeping increasing rates for increasing income.

[Kidlicious]

we should eliminate the ... tax preferences for 401(k)s and IRAs.

Why would you want to do that? Americans need to be saving more, not less.

Consider taxes national savings.

[Kidlicious]

In principle, I'm all for tax reform. As a start, we should eliminate the mortgage interest deduction and the tax preferences for 401(k)s and IRAs. Then we should reduce drastically corporate income taxes. A modest national sales tax wouldn't be a bad idea, if only to diversify the tax base.

Good ideas.

[DaShi]

I thought we wanted Americans spending like idiots to keep our consumer-based economy afloat.

[Kidlicious]

The deficits are too large for that now.

[Japher]

Good ideas.

Good Grief

I say we do the exact opposite, and reduce corporate income taxes... we need to supply care not cash. We think the government spend unwisely, how many "poverish" ppl do you know with big screen TVs?

[DaShi]

The deficits are too large for that now.

**** the deficits! If we're going down, we should take the whole world with us!

[Kidlicious]

we need to supply care not cash. We think the government spend unwisely, how many "poverish" ppl do you know with big screen TVs?

What does this mean?

[Hauldren Collider]

Corporate income taxes are a tax on everyone and everything. It's a tax on stocks, salaries, consumption, everything.

[Ben Kenobi]

It would be a good start.

Reduce corporate taxes.

Reduce income taxes.

Cut government spending.

Put a freeze on future spending.

Wait ten years and you'll be back on track again.

A modest national sales tax wouldn't be a bad idea

It would be a disaster for the USA. One of the few business advantages is that you don't have one. It's a huge job killer.

The flat tax is a much better idea. Rather then having a sales tax, just make it so that everyone pays the same amount as a percentage of their income. It's still progressive, because people who make more pay more.

[Kidlicious]

The flat tax is a much better idea. Rather then having a sales tax, just make it so that everyone pays the same amount as a percentage of their income. It's still progressive, because people who make more pay more.

As usual you're wrong.

[Ben Kenobi]

Why am I wrong?

Isn't a tax progressive when rich people pay more than poor people?