and mine.

Are you serious!?!?!?! "under a certain income level, you shouldn't have to pay income taxes at all" OMG!!!........ Keep the dependants dependant. Way to go!

 

Best quote of the whole Fn thread!


Thats the basis of the the clinton/pelosi america

 

yes, under a certain income level - you shouldn't have to pay taxes.

i'd say this is like under 5k a year, the instant you earn over you pay taxes on whatever over 5k you've earned.

students would benefit from this, low-income workers would benefit from this, and if you're making only like 5k (for example) per year, thats not a hell of a lot.

how would this be keeping the dependants dependant? I could see the reasoning if the income level was higher, like 10 or 15k (for example), THAT would be incentive to "beat the system" and only earn slightly below that limit, but there's going to be "beating the system" whatever limit you put on anything realistically.

With regards to the rich getting tax breaks before the poor, you can always put caveats in the tax law that allow the rich to overall pay less taxes than their specified tax breaks - but i'd prefer to concentrate moving bubba and his 5 kids OUT of the trailer park and INTO better housing so that they can have a cahnce at improving their lives (who knows, bubbas kid may become some important doctor if they're given a chance) rather than buying joe millionaire another lambo "just for fun"

it's all about how much it matters. if I earn 20k per year and a tax break allows me to take home 2k more, I'm going to feel that impact a LOT more than someone who is making 80k a year and gets to take home an extra 6k per year from their tax break.

Note: I'll also put more of that money into the economy as I'll have to buy more necessities, and finally have the money to do so. 80k guy may go out and buy a boat, but I'd use it for food and clothing, which is more stable spending than a one-time purchase of a boat (and then the maintenance, etc).

 

Under a certain income level you don't - its like 7k a year, which is basically nothing.

We need a flat tax. Make things real simple and fair imo, of course rich folk don't want that - no loopholes.

 

You may get 100% of it back, but I've never ever worked a job where I straight up was NOT taxed for earnings under 7k.

 

......FAIR TAX ppl look it up....its a non partison way of doing things....


and even the poor don't get taxed...and the rich dont carry the weight of the country...its the perfect solution....but it means no loop holes for the rich and no hand outs for the poor...

 

I think this is the best idea yet! I woudl vote seriously consider the Fair Tax Act! For those of you that are not familiar with it, I'll give you alittle explaination.

The FairTax is a proposal for changing United States tax laws to replace the Internal Revenue Service (IRS) and all federal income taxes, payroll taxes (including Social Security and Medicare taxes), corporate taxes, capital gains taxes, gift taxes and inheritance taxes with a national retail sales tax, to be levied once at the point of purchase on all new goods and services. The proposal also calls for a monthly tax rebate to households of citizens and legal resident aliens, to "untax" purchases up to the poverty level.

1. The sales tax rate would be 23% of the total register price when calculated the same way as income taxes, which is the same as a 30% traditional sales tax.

2. Due to the rebate, the effective tax rate is progressive on consumption and could result in a tax burden of zero or less. The FairTax would not change government funded programs such as Social Security, Medicare, and Medicaid.

3. Because the income tax structure of the United States embeds multiple taxes in the costs of goods and services, the FairTax is expected to decrease production costs after business taxes and compliance costs are removed. This is predicted to offset a portion of the FairTax amount.

4. Proponents expect the FairTax to have positive ramifications for savings and investment (not taxed), transparency (taxes are visible on each receipt), ease of compliance (no tax planning), economic growth, international business locality (businesses will be more inclined to produce in the U.S.), and U.S. international competitiveness (decreased U.S. production costs). It could also have challenges with an underground economy (avoiding the tax) and the permanent repeal of income taxation (Sixteenth Amendment).

 

 

The Fair Tax seems to resemble the VAT in England in some regards, looking into it Heard vaugely about it a few years ago but not much lately, thanks for the heads up.

 

This is the key reason we do not have it and more than likley will never have it. The rich can't cheat it, and the poor are not babied, left to sit on their fat, lazy asses and procreate while just recieving a check in the mail, and stamps from the government.

It's ashame that there are people in this world who think welfare is an option.