hmm what is the pros and cons of this? sounds a little weird to me, but maybe im not seeing the big picture

 

^^^so MOD status clearly ISN'T based on intellect^^^
He musta Bribed his way in...

 

A: would not support 22% increases in taxes, where's the benefit or who will benefit from this???IMO restructuring the tax system = bad idea.

Q: Have you ever served your country?

 

A. Yup in more ways than one..

Q. I am just trying to see why somebody would even think about doing a flat tax rate.. dont know if Grouse is a supporter of it or not, but just trying to get both sides view can anyone else ellaborate on this?


Jazz.. yes bribery is easy on this forum.. just takes 1 dozen Oatmeal cookies.. and your in

 

A: a flat tax is not an increase in tax. But a decrease. You are only taxed on purchases not on income. Meaning currently when you look at your check and you see you made 3500 this week but the fed took their share of it leaving you 2345. Where as under a flat federal tax (i'm not talking state, just federal) you bring home the full 3500 minus medicar, ss, benifits. You are free to invest that extra or spend it. When ever you spend it you pay 22% sales tax. As you were not taxed the original 33% federal Or 39% in my case you actually pay less tax, yet the revenues dirived from the a consumption tax are significantly higher than a regressive tax. It is this way because you get something in return for that 22% tax... IE you groceries, heating, gas, car, house, computer.... ect. Every paycheck you have more spendable income. Having more income means having more purchasing power. More purchasing power equates to you spending the money on what you want,need The tax generated is then shuffled off to federal budget.


that's the simplified version

q: How many of you would be willing to pay quarterly taxes if you could get a deduction of 10-15% on your overal tax bill.

 

Quick question on that, If I were to let say by stock under this flat tax. would I also be charged the (22%). Just want to know what they do about investing. Also if you have pention plan, are they gonna take some off that to even though you never really spent the money, And what about bonds. ect. or a biggie, What about school, lets say you spend just as a round number 100,000 to get all the way through school are you gonna have to pay 20,000 extra tax on that.

 

A: a few ways to deal with that. Take the tax up front while purchasing the stock, and not have to pay it when stock is sold... This is the biggest benifit to you as you pay the least amount of tax. Or pay the tax when the stock is sold, if you bought 100 bucks in stock and paid up front you'd actually pay 122 for that 100 in stock. But if you paid on the back end when that stock was 1000, you'd pay 220 netting you 780 after tax, 680 usd proffit after your 100 dollar investment is considerd.

I'd prefer to take the tax upfront. It would work the same for the pension, you either pay it when you buy in monthly to the pension or you pay it when you are cashed out. As i demonstrated above paying the little tax now benifits you in the long run.

Couple of things there are many diffrent flat tax plans. The one i have out lined is not set in stone but a congomerate of the basic flat tax ideas.

Generally most flat tax plans, would not tax, un cooked foodstuffs, Medication, medical treatments, and Schooling.


As to the schooling the wife and I are paying down her 116k in school loans. sheesh is it hell. Ug let me tell you, we are down to 36k or so... but I am just about sick of 1500+ amonth in school loan payments.



edit forgot to ask my question

Q: Howmany of you would like to see some real social security stabalizaitons/reforms. I personally would like to pay out to everyone 40 and over and shitcan the rest... but That's the evil conservitive in me.

 

I feel you there, 110K on my side and I get to start coming in the next year, As for the stocks and pensions, I guess I never thought it through all the way, and yeah, that would make a hellof a lot more cents. (haha) SO to answer the question possed, the rich will get richer, and the poor, will probably get poorer, sence most of them don't pay tax anyway.

 

Lol.... the poor, can get the f off thier *** go to school, work hard, get a job other than mcdonalds.

Right now the top 5% pay over 50% of the tax, us middle class pick up 49% of the remaining. I don't know about you but paying 40k ayear in tax is killing me. The only people not pulling their weight are the poor.

I am a firm believer in making them pay their share. It is high time we tax them like they tax us.

 

umm maybe im not seeing this right.. and in no way do i really know what im talking about.. but just trying to figure it out..

say you but some stock.. you pay 22% you invest come back in a few years and you sell the stock and make a very small profit.. now you want to invest in another stock bam another 22%.. then you realize your not doing all that well and want to buy a house.. bamm another 22%.. hmm I am not sure maybe thats better maybe its not.. hmm I really need to do some research any leads on where I can get started?