The "rich" needs a tax break
- Thread starter Jeslek
- Start date
Well said, flavio...
Jeslek
Banned
Doesn't cover me? Well soon it will. I have no problem with paying taxes if it is a reasonable rate and I actually get something from it. But given the way the Liberal party is spending money right now (*cough* 1 billion down on gun control, a few more on that sink hole they call health care, etc), I don't even feel like supporting the government. I'd much rather take all that money and send it to the US military.
My folks ain't happy about it either. The only reason they're staying in Ontario at the moment is to get us kids through college. I really appreciate them for doing that.
Puter, do you honestly think taking 45% from a person's income is good? How would YOU feel about it?
My folks ain't happy about it either. The only reason they're staying in Ontario at the moment is to get us kids through college. I really appreciate them for doing that.
Puter, do you honestly think taking 45% from a person's income is good? How would YOU feel about it?
Jeslek
Banned
Um eh? They don't pay my taxes. I never said that. But I hear them complain about it every year Januaryish when they need to file their tax return. Both of them ARE being taxed at a rate of 45%. Not good. The point of this thread isn't whether you can or can't do anything about it though, it is that there is a need to get some relief to those that need it most. Or if you insist on living in a welfare state, tax the "poor" at 45% too please to be fair.
Jeslek
Banned
*shrug* It means that in a few years I will be paying 45%. And why should someone making $20,000 be allowed to take back say $18,000 but someone making $200,000 shouldn't get $180,000 but rather say, $125,000? That equates to punishing someone for being rich and working hard... Not nice.
Jeslek
Banned
And? So you agree that you should punish those that are rich? Say someone is enterprising enough and starts up 6 companies and employs 6,000 people. Now he gets punished for that and has to pay a crap load of taxes. Does that seem fair? What is your PERSONAL opinion? Should there be a flat tax rate or do you like this slide rule thing that the more you make the more you get taxed?PuterTutor said:
Jeslek
Banned
This year Americans will pay accountants and attorneys $140
billion to do their taxes and help them navigate the 46,000-page
U.S. Tax Code. Too bad, observers say, this isn't Russia.
- Since January 1, 2001, Russians have enjoyed a 13 percent flat tax.
- Even the old Russian system was simpler than ours, with three tax rates - 12, 20, and 30 percent.
- The U.S. has six -- 6, 10, 15, 27, 30, 35 and 38.6 percent, the last of which takes hold at $307,500 for married couples filing jointly.
- The majority of Russian taxpayers don't need to file forms. The 13 percent rate has exceeded expectations in terms of revenue, as real ruble revenue increased 28 percent.
- Three years ago, tax revenue equaled 9 to 10 percent of Russian gross domestic product.
- By last November that had grown to 16 percent as result following the Laffer Curve: lower marginal tax rates produce higher revenues.
The new system has also greatly reduced the underground economy, where people were paid in goods rather than cash to facilitate tax evasion.
In other pro-market moves, President Vladimir Putin has signed legislation to cut the corporate tax rate from 35 to 24 percent. The Kremlin may also offer Russians privately invested social security accounts, much as President Bush wants for Americans.
As one observer has noted, V.I. Lenin, analyzing all this from his dacha in hell, must be stroking his beard in utter bewilderment.
Souce: Source: Deroy Murdock, "Even Russia Realized the Wisdom of a Flat Tax," Dallas Morning News, March 4, 2002.
billion to do their taxes and help them navigate the 46,000-page
U.S. Tax Code. Too bad, observers say, this isn't Russia.
- Since January 1, 2001, Russians have enjoyed a 13 percent flat tax.
- Even the old Russian system was simpler than ours, with three tax rates - 12, 20, and 30 percent.
- The U.S. has six -- 6, 10, 15, 27, 30, 35 and 38.6 percent, the last of which takes hold at $307,500 for married couples filing jointly.
- The majority of Russian taxpayers don't need to file forms. The 13 percent rate has exceeded expectations in terms of revenue, as real ruble revenue increased 28 percent.
- Three years ago, tax revenue equaled 9 to 10 percent of Russian gross domestic product.
- By last November that had grown to 16 percent as result following the Laffer Curve: lower marginal tax rates produce higher revenues.
The new system has also greatly reduced the underground economy, where people were paid in goods rather than cash to facilitate tax evasion.
In other pro-market moves, President Vladimir Putin has signed legislation to cut the corporate tax rate from 35 to 24 percent. The Kremlin may also offer Russians privately invested social security accounts, much as President Bush wants for Americans.
As one observer has noted, V.I. Lenin, analyzing all this from his dacha in hell, must be stroking his beard in utter bewilderment.
Souce: Source: Deroy Murdock, "Even Russia Realized the Wisdom of a Flat Tax," Dallas Morning News, March 4, 2002.
Jeslek
Banned
Why not? Forbes suggested that those under $36,000 pay NO TAX at all. I can go with that. Those over that amount pay 17%. No matter how much you make, you pay 17%. The more you make, the more tax dollars you pay, but it doesn't go up exponentially. It will encourage people more than the current system to work harder and earn more.PuterTutor said:
outside looking in
<b>Registered Member</b>
Jerrek said:
OK, I'm all in favor of a flat tax, but the above suggestion is ludicrous.
If you make $35,000 a year you keep $35,000 a year.
If you make $36,000 a year you keep $29,880 a year.
In fact, you'd have to make $43,375 to keep the same amount as someone making $35,000.
No, you have three choices:
(1) A flat tax across the board
(2) A linear tax across the board
(3) A linear tax up to some point, and it's flat from thereon.
I'd vote for number (1) first, and number (3) next, with (3) being the closest to what we have in the US currently.
Whoever said we should have a flat tax and fix the loopholes had it right.