Flat Tax: Much the same. We currently have a progressive tax system -- the more you make, the more that tier of money is taxed. Everyone pays the same tax per tier, it's just that only the wealthy reach the higher tiers and pay the higher rates on them. But if you flatten that to one rate, what happens? The rate on the lower tiers that everyone is paying goes up and the rate on the upper tiers that only the wealthy is paying goes down.
Flat tax without deductions wouldn't benefit the wealthy as it's pretty well documented that dodging the wild majority of income tax is pretty trivial if you can afford a decent tax attorney and plan your compensation a few years in advance. Every flat tax proposal starts out as "just 10% of your income" turns into "well not investment income" or whatever as soon as any questions are asked. I'd lose a bunch of money if I paid 10% of my income in taxes.
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To make a long story short, I don't take any responsibility for anything I post here. It's not news, it's not truth, it's not serious. It's parody. It's satire. It's bitter. It's angsty. Your mother's a *****. You like to jack off dogs. That's right, you heard me. You like to grab that dog by the bone and rub it like a ski pole. Your dad? Gay. Your priest? Straight. **** off and let me post. It's not true, it's all in good fun. Now go away.
Smasharoo wrote:
Every flat tax proposal starts out as "just 10% of your income" turns into "well not investment income" or whatever as soon as any questions are asked.
True and that was my assumption since these things get dressed in "promoting saving and investment". The flat tax plans promoted by Romney, Ryan, Cain, etc all exclude capital gains, interest and dividends. Cruz hasn't given any details on his plan that I could find but I'm assuming it will as well since they all do. Plus, he'd never float a proposal to massively raise the taxes of wealthy donors. You're right though that the "no taxes on capital gains, etc" aspect is more damaging than the simple "we'll meet in the middle" tax bracket flattening aspect.
Alma wrote:
However, in my simple mind, when you say abolish the IRS, I'm thinking no taxes. Obviously that isn't true which is I why I say it's misleading.
It's an intentional rhetorical flourish. Agreed that it's misleading (and intentionally so) but it's a small reason to be opposed to the plan versus the plan itself.
Edited, Mar 30th 2015 8:53am by Jophiel
Belkira wrote:
Wow. Regular ol' Joph fan club in here.
With a stupid plan like that, I'd just shop on base.
George Carlin wrote:
I think it’s the duty of the comedian to find out where the line is drawn and cross it deliberately.
Jophiel wrote:
It's an intentional rhetorical flourish. Agreed that it's misleading (and intentionally so) but it's a small reason to be opposed to the plan versus the plan itself.
And then there was two. Do you stand with Rand?
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