If you believe in the flat tax

[kraft-t]

Lets do it on a trail basis first. Lets put a 10% flat tax for Social Security. Every dollar of income gets taxed 10% whether it is earned income, capital gains or dividends and interest. Whether you make $1000 or  $ 10 million. If that pleases most everybody then we can approach the federal income tax in a similar fashion.

Unfortunately most people that favor the flat tax think it will benefit them, cost them less and be more convenient. Perhaps the rate could be even lower if all income is taxed. Lets try it there first and we will see if it is wildly attractive to tax payer large and small.

[Mizzou_Tiger]

ok lets get this clear before we go deeper.

10% on everything earned before any deductions or exemptions????  Even if you have a lose somewhere????  What standard deductions and dependants?????

ok

next question

you wanna go from 12.4% to 10%???

right???

ok next question

will I get a guarantee that I will recieve the same or more benefits adjusted for inflation than you current do????.........when I retire..........

???

How about this...................give anyone the option to opt completely out of SS.............and they FORFIET EVERYTHING they or THEIR EMPLOYER have ever paid in, BUT they will not have to EVER PAY IN EVER AGAIN, and NEITHER WOULD THEIR EMPLOYER.............the catch being they will not get any benefits at retirement...............

FYI, my retirement plan does not include SS as an income stream, dont trust it, nor do i think it will be intact by the time i retire................even though I would be willing to bet I will pay in more than you over a lifetime............

[Shaggy98]

Dido MT, The wife and I have been paying SS for over 20 years now but we were told by one of our financial advisors not to count on it being there when we retire.  Can I deduct that as a charitable donation?

[Mizzou_Tiger]

i would think so

a charitable donation that goes right to KRAFTY.............the guy that bitches and moans about everything...........YET REFUSES TO DONATE ALL HIS ASSESTS TO THOSE IN NEED...........

truth be told, he probably has and will pay in less...........probably much less than most of us on here.............YET HE STILL BITCHES AND MOANS WE SHOULD DO MORE WHILE HE DOESNT PAY SHAT....................

but what do you expect...........krafty is a retired union teet sucker....................they brainwash them well...............

[kraft-t]

Get a new financial advisor.

[kraft-t]

I haven't been a union member for over 50 years. You just don't know what you are talking about.

[kraft-t]

You will get the same promise I got 50 years ago. BUt  perhaps when you get to be 73 you will have some snot nosed kid that thinks it would be a good idea to reneg on the guarantee.

[Mizzou_Tiger]

krafty.........are you saying your SS check bounced this month????

you will need to take that up with accounting, as I am pretty sure the welfare retirement tax is still being pulled from paychecks.........

as for a promise...........HA, LMAO.........

I dont want or need to rely on someone else to pay my retirement..............thats not how I operate...........trusting someone from the government is about the last thing you do, right before selling your sole to the devil.............

I dont want a promise and I dont want to pay SS and I dont want any SS benefits.................I would forfeit everything ever paid in and any future benefits if I could be free of that tax from this day forward.............

[r3020]

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@Mizzou_Tiger wrote:

krafty.........are you saying your SS check bounced this month????

you will need to take that up with accounting, as I am pretty sure the welfare retirement tax is still being pulled from paychecks.........

as for a promise...........HA, LMAO.........

I dont want or need to rely on someone else to pay my retirement..............thats not how I operate...........trusting someone from the government is about the last thing you do, right before selling your sole to the devil.............

I dont want a promise and I dont want to pay SS and I dont want any SS benefits.................I would forfeit everything ever paid in and any future benefits if I could be free of that tax from this day forward.............

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You mean you want choice? That should be easy, liberals love choice.

[jput]

krafty,  you're the one who wants the "rich to pay their fair share".     Well right now,  Bill Gate,  Warren Buffett,  the Kennedy trust fund clan,  escape paying taxes due to all those loopholes your congresscritters passed over the years.

A 15% Flat Tax on any income over the first $30,000 makes the rich pay 15% of their big pile.   The middle class 15% share is a much smaller amount to send to the IRS.  

You want the rich to pay more,  the Flat Tax is the way.

Now there are those who want a national sales tax (aka:  "fair tax") to replace the current complex income tax.  Well that will take more from those who can least afford it.   Warren Buffett doesn't care if he pays a 21% sales tax on his groceries,  his clothes,  his cars,  etc.  But those with much lower incomes won't like a national sales tax.

Thus a 15% Flat Tax is the answer to taxing the rich.