Somebody FREAKIN shoot me!!!!

[IMPALA MAN]

Some people may not like this, however I too am in favor of the FAIR tax. The "Good Book" says to tythe 10% of your earnings. Not 10% up to $100,000 then 8%. Taxes should work the same way. Personally (some may not agree) but if you need a reduced tax rate to incentivize you to make more money, then....well then you should rethink your position. I also think it is wrong to make wealthy or poor pay more taxes than the other. It all should be an even % across the board.
That's my take.

[camcojb]

Originally Posted by IMPALA MAN

Some people may not like this, however I too am in favor of the FAIR tax. The "Good Book" says to tythe 10% of your earnings. Not 10% up to $100,000 then 8%. Taxes should work the same way. Personally (some may not agree) but if you need a reduced tax rate to incentivize you to make more money, then....well then you should rethink your position. I also think it is wrong to make wealthy or poor pay more taxes than the other. It all should be an even % across the board.
That's my take.

can you show me the tax table that gets lower as income goes up?

[Flash68]

Steve Forbes' FLAT TAX is where it is at. Simple and brings it all home. Equality. No entitlements.

[Vegas69]

It's a big F'in mess that will be sorted out about the same time we have middle east peace. End thread.

[Sieg]

Originally Posted by Vegas69

It's a big F'in mess that will be sorted out about the same time we have middle east peace. End thread.

[syborg tt]

Originally Posted by Flash68

Steve Forbes' FLAT TAX is where it is at. Simple and brings it all home. Equality. No entitlements.

AMEN !!!

[IMPALA MAN]

Originally Posted by camcojb

can you show me the tax table that gets lower as income goes up?

It would be the tax table that Warren Buffet's secretary uses.
The tax rate going down for higher income is no different than the tax rate going up for lower income.
Example: If Warren decreases his income, he pays more (percentage) tax.

[Eleanor's Nemesis]

Originally Posted by IMPALA MAN

It would be the tax table that Warren Buffet's secretary uses.
The tax rate going down for higher income is no different than the tax rate going up for lower income.
Example: If Warren decreases his income, he pays more (percentage) tax.

Not true. Warren Buffet's secretary pays a higher tax rate because her income is earned, Buffet's income is derived from investments and is taxed at the current Capital Gains rate.

We all pay the same federal income tax rates. There are some small caveats-like deployed military personel in war for example, but for most everyone else the rates are the same.

[Garage Dog 65]

http://www.cato-at-liberty.org/warre...tory-is-bogus/

Mr. Buffett pays 35% on his income. His “effective average tax rate” is way lower because most of his income comes from capital gains that had already been taxed, (you can't double tax income) or from income that is not taxed or has reduced taxes because the government wants people to invest their money in those areas and uses lower tax rates on those things as an incentive.

His secretary pays 15% on her income of the reported 60,000 per year salary.

When stuff like that seems unreasonable - it usually is...

Jim

[GregWeld]

I'll chime in here with real life taxes


I pay 15% income tax on my dividends (qualified dividends)

I pay ZERO on my tax free muni bonds

Without saying what I earn --- it is SUBSTANTIAL.... but my actual tax rate is quite low in percentage terms == especially when you figure some at zero. MY total tax bill will be far higher than most of you in dollar terms. I still only get one vote and drive on the same roads.

Now ---- I have that income because the MONEY that makes that money was already taxed at ordinary income taxes -- so the money that's left is ALL MINE.... now I just pay taxes on what it earns. Same as that simpleton Warren Buffet (I hate people that want to speak for me -- but are far richer -- and that old fart ought to just shut the hell up and write a big fat check to the IRS if he wants to pay more).


BTW --- I'd LOVE to see a flat tax -- corporate and personal --- ZERO deductions for ANYONE for ANYTHING. Just gross as much as you can and pay your percentage and be done with it. They could index the rates -- less for low earners -- more for the next bracket and hammer the top guys - but make it simple and easy. You gross X - you pay X. You want a big azz car and house - that's your problem not mine.