Digital Doctor
Well-known member
Or maybe a flat tax of 5% ?I'd vote for a 15% flat tax.
Or maybe a flat tax of 5% ?I'd vote for a 15% flat tax.
lol That'd be nice however it's to low.Or maybe a flat tax of 5% ?
Or how about we just shrink the government?
That's exactly how I look at it.I've got a real problem with asking people to pay more when 50% pay nothing at all. In fact, the majority of the money being collected from those who will pay more will go directly to those 50%.
15% flat tax for all income levels and all income types. Income is income. No deductions, no exemptions. If you earn a $1, you pay 15 cents. If you earn a million, you pay $150K. If you earn $10 billion, you pay $1.5 billion.
Ontario5.05% on the first $39,020 of taxable income, +
9.15% on the next $39,023, +
11.16% on the amount over $78,043
Canadian Federal tax rates for 2012
15% on the first $42,707 of taxable income, +
22% on the next $42,707 of taxable income (on the portion of taxable income over $42,707 up to $85,414), +
26% on the next $46,992 of taxable income (on the portion of taxable income over $85,414 up to $132,406), +
29% of taxable income over $132,406.
I've got a real problem with asking people to pay more when 50% pay nothing at all. In fact, the majority of the money being collected from those who will pay more will go directly to those 50%.
15% flat tax for all income levels and all income types. Income is income. No deductions, no exemptions. If you earn a $1, you pay 15 cents. If you earn a million, you pay $150K. If you earn $10 billion, you pay $1.5 billion.
It's a progressive tax.I think I pay 50% tax.
To be truthful, I don't even know.
Maybe it's 40% (29 + 11%) ?
What's the 14 trillion number for?Well, then we'd have 15% times about 14 trillion or 2.1 Trillion dollars.
Where are you getting get the missing trillion?
Well, then we'd have 15% times about 14 trillion or 2.1 Trillion dollars.
Where are you getting get the missing trillion?
Even Flat Tax people suggest 20-26% as being the right number.
As to your first point about poor folks, it is not relevant. No matter how hard you squeeze, you cannot get blood from a stone. Therefore, saying you have a hard time with balancing the books when poor people pay little or nothing is about as relevant as me saying I don't want to pay taxes because the sun is not shining today.
If you are going to discuss reality, we have to agree to respect it.
Even the ultra-conservative Heritage Foundation says:
"For instance, a family of four would not begin to pay tax until its annual income reached more than $30,000"
That would create a similar result as now, where poor folks pay little or nothing. You could increase taxes 10 fold on poor people - but as you well know, 10 times zero is still ZERO.
http://en.wikipedia.org/wiki/Flat_tax#Countries_that_have_flat_tax_systemsWhat countries in the world have flat taxes ?
In what world does this exist? I am "Guy 2" and I guaran-DAMNED-tee I pay a higher percentage. I don't get deductions the other guy gets. I pay over $50K/yr in tuition, but can't deduct a dime. I can't deduct mortgage interest. The is a whole list of deductions that I am excluded from using because of my income level.
So yeah, I hear all these stories, but they don't mesh well with reality.
Here's what has really happened under the class-warfare regime. The upper middle class has been redefined as "the rich". Why? Because we are well off enough to tax more, but not so rich as to be able to use the loop holes and shelters the real rich use.
And you think it doesn't kill business? Think again. I had to let half my employees go since 2009 and finally sold the business at much less than its value along with a six figure drop in my own salary, not counting the six months where I didn't pay myself at all to try to keep as many people on as I could.
So spare me the hope and change. Balack Insane O'Bammy (Black Irish, don't you know), took a recession and turned it into the worst economy since the Great Depression. And in that economic climate, he has the audacity to run this country for the last 1000 days with no budget, just a series of continuing resolutions.
As the CEO, he has failed and I have complete confidence that this time next year will find him unemployed.
My .02
So how did this "guy 2" come about to make $4000 a week? Did it just land in his lap or was he also at one time the "guy 1" and he worked extra hard to get where he's at right now?
Bill Gates:
"The United States has a huge budget deficit, so taxes are going to have to go up. And I certainly agree that they should go up more on the rich than everyone else. That’s just justice."
"I hope we can solve that deficit problem with a sense of shared sacrifice — where everybody would feel like they’re doing their part. And right now, I don’t feel like people like myself are paying as much as we should."
So basically you should bailout the people that make less than yourself? (I'm willing to bet that you make more than me, where's my check? ) Sorry but that breeds entitlement and it's already bad enough with all the Section 8 and welfare programs we have.How is not important...the point is...if you stay at 800 a week now a days and have to raise an entire family on it...you will never even make it to guy 2 status. Your just to busy trying to make 800 work for you. A single person with no dependents can live comfortably (in my location) but to support an entire family on it is tough and it will break you down.
My world...also in my world average people don't own businesses nor was I talking about tuition or whatever other CHOICES you made to spend money on.....I WAS TALKING ABOUT INCOME TAX AND THE AMOUNT TAKEN FROM A CHECK...also not to sound crass...but you gave yourself a bigger pay cut in one year than my father has made a year in his entire life.
What's the 14 trillion number for?
My father has been guy 1 since he moved to this country...he never got a traffic ticket, he paid for his daughter to go to school , he worked hard, he donates to the police unions and the american cancer society. He pays his taxes on time and still offers his help to people for free..
30 something years and he is still not even up to guy #2 status.
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