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Senior Advisor

Re: If all income was taxed the same

No charitable deductions. Whether you give your money to a church or your children it should always be after tax income. BTW that is the way mitt avoids millions in taxes. The question is whether all the mormon revnues are used properly.

Senior Contributor

Re: so how is it not fair

maybe one works more hours or works harder why punish them for that

Senior Contributor

Re: If all income was taxed the same

Re-read my post.

A married couple's first $50,000 would be TAX FREE.

A similar couple, making $100,000 would only pay the 15% on half their income.

A couple making $1,050,000, would owe 15% on $1 million.

So, a couple, with a $50,000 income, would pay ZERO tax, how is that punitive to them?

 

Senior Contributor

Re: If all income was taxed the same

I have to agree with Kraft-t

You take your sales of your crops, subtract your direct expenses for raising that crop, subtract $50,000, and pay $15% from that point on.  Don't let the camel's nose under the tent, for special deductions.    A millionaire wanting to donate to charity, will still be better off paying 15% on their millions, than trying to get a write-down from 39% by giving 'certain' donations.

Senior Contributor

Re: W0W!

Any plans I have seen, allow you to subtract the direct costs of business, from your gross sales.

Senior Contributor

Re: If all income was taxed the same

"Along with these reforms we would have to end ALL subsidy programs for those above $30,000  incomes "

 

 

====Why have any subsidies for those under $30,000.    All able bodied people should work for their keep.   If they're content to live on less than $30,000 per year,  that's fine,  that's their so-called "living wage".   Eliminate the inefficient, ineffective govt. bureaucrat loaded programs to simply don't get able bodied people off welfare.  

 

 The whole idea behind the Flat Tax is to provide inspiration to move above that first $30,000 with the govt. only taking 15 cents of every dollar.   Current high tax rates provide a disincentive to work because the govt. takes too much.   The wealthy use their legal loopholes tax avoidance strategy like the Kennedy trust fund clan.  Let them,  Bill Gates,  Warren Buffett,  the Holywierd stars,  sports team stars,  etc. pay 15% of their big pile.    That won't stop Buffett from doing what Buffett does,  which does provide employment for people in his various enterprises.    Moving the 35% corporate tax to that 15% Flat Tax make them want to do business within our borders instead of risking investments in foreign nations with unstable govts.   More employment right here.  You grow the economy and there will be plenty of taxes paid,  but our govt. is still too big and bloated.   There still needs to be a reduction of the federal govt.  

 

Eliminate the EPA and let each state's Dept. of Natural Resources monitor clean water,  etc.  Eliminate the Dept. of Education and let each state's Dept of Ed.  run the schools.   The closer govt. gets to the people,  the better so they're reminded that they work for us,  not the other way around.

 

 

Senior Contributor

Re: If all income was taxed the same

You havn't paid taxes yet.     Just invest that 450,000 figure at 5% take the return,  bank it..   Now you have the ROI  plus still have 450,000.     

Highlighted
Senior Contributor

Re: If all income was taxed the same

"isn't as punitive"

 

So then the liberal-think view of taxes is not to raise revenue to fund govt. duties,  it is to punish the achievers.  krafty is ear deep in the class warfare crap.   We have the resources to grow the economy,  grow employment and (given the current lp gas clusterduck) provide low cost energy which especially benefits lower income people.   But the Dim party is run by the extremist enviros.  who play right into Putin's and the Saudi's hands.......................

 

 "Saudi Arabia's Prince Alwaleed Bin Talal, a billionaire businessman and nephew of Saudi King Abdullah, said the production of shale oil and natural gas in the United States and other countries, primarily done through fracking, is a real competitive threat to 'any oil-producing country in the world,' adding that Saudi Arabia must address the issue because it is a 'matter of survival.'"

 

In another article he pursues this:

 

"But the Saudis, the Russians, and every other oil oligarchy in the world now understand that their power is fading. The only thing that can save them is a political movement in the United States, headed by the environmentalist groups, that could cripple this strategic weapon. That central fact must be understood in evaluating the funding and activities of environmentalists."

 

 

Yes,  follow the money.   The Saudis will pour in money to fund the radical enviros,   who will contribute to the Dims,  who will throttle oil development,  thwart any new refineries with massive govt. hoops to jump through,  block Canadian oil pipelines,  etc.    Their answers of course is solar,  which doesn't work in cloudy days and at night,  ........... oh, oh, oh,  there's those 30% efficient bird grinding wind generators which again,  are subject to when the wind blows just enough to turn the blades.

 

But rather than create low cost energy,  create jobs,  import less oil from nasty dictatorships,  the Dims keep us held hostage in the names of the phony "man caused"  global warming.