US Flat Tax Rate

[Revoltingest]

... thereby making it a progressive tax system with two tax brackets, not a flat tax.

It is what it is, whatever it's called.

 

[Revoltingest]

FWIW, in Canada, renters do get a deduction for the rent they pay (it's a percentage of their rent, meant to represent the portion that flows through as property tax).

Similar things happen here at the more local level.
But it's not good enuf for me.

 

[habiru]

If it weren't for businesses, that there will be no jobs for anyone to work at. Owner of a company must be making good money in order for them to stay in business. Nobody opens up a business just to help others to make money. And now there's is too many regulations that is causing laziness. Now employees are asking for more money and putting out less production. And now owners are being taxed high. Why should they stay in business? President Trump knows what is going on in the minds of the wealthy. He knows how to bring them back into this country. If every companies decided to move out, then where will the people get their money from to pay their bills. If there's nobody paying bills, and which that means that there will be no one selling products at all. Then that means everyone will be migrating to other countries looking for work like the way people relocates to other cities or states looking for work. And that is what the past administrations were planning on doing, having everyone leaving this country because of high crime rate due to radical Islamist and to be looking for work like the way it is in Mexico, and then they will comes right behind them buying up the land like the way George Soros had done in the past. And then bring back businesses to improve the economy and start selling property even at a higher rate since the economy is booming. Hillary should know a lot about real-estate.
You are so lucky that you have an President that knows about businesses, that really want to help, that is not like the others, that tries to get everything that they can out of you.


Blockbusting was a business process of U.S. real estate agents and building developers to convince white property owners to sell their house at low prices, which they did by promoting fear in those house owners that racial minorities would soon be moving into the neighborhood. The agents then sold those same houses at much higher prices to black families desperate to escape the overcrowded ghettos.[1] Blockbusting became possible after the legislative and judicial dismantling of legally protected racially segregated real estate practices after World War II. By the 1980s it largely disappeared as a business practice, after changes in law and the real estate market.[2] After the turn of the millennium, claims were made that a similar but inverse practice was occurring in New York State and New Jersey on behalf of orthodox Jews,[3][4] who were pressuring non-Jews into selling based on the fear they will be outnumbered by Jews, and subsequently resold at a much higher price to Jews. Blockbusting - Wikipedia

 

[Monk Of Reason]

I have seen the idea of a flat tax tossed around over the years, and I like the idea. This would only be for personal federal income tax. State and local taxes are a different subject, as are corporate taxes.

For example. instead of having different tax brackets based on income, everyone would pay 10%. Using the 10% example, the breakdown is easy. I would advise an exemption clause for any household making under $25,000 per year.

Under $25,000 and pay $0
Make $50,000 and pay $5,000
Make $500,000 and pay $50,000
Make $5,000,000 and pay $500,000
Make $50,000,000 and pay $5,000,000

It does not matter how much you make, the rate is always 10%. Yes the wealthy will pay more in taxes, but they should. They have a MUCH easier life than someone making under $50,000 per year, so they can live off their remaining $45,000,000 after taxes. If they can't live off that, they have some serious issues.

I would see a 15% increase in my paychecks based off my current tax bracket (2017) of $75,900 - $153,100, not including the elimination of the 25% excess tax over $75,900.

I personally am of the opinion that taxes also need to be used to adjust the market. I think that there shouldn't be a cap to the increase of % of income needed to pay taxes depending on income. I think that we can lower the taxes we have currently but only if we get rid of most of the harmful loopholes that allow the effective tax rate to be so low.

So personally I feel that if someone makes a billion dollars a year they should be taxed 50% or more. I think someone making a milllion a year should be taxed more than someone making 50,000 a year. I think this should be enforced more heavily with corporations. The bigger you are and more sucessful you are the more you put back into the economy. The main reason I support this is that it gives smaller buisinesses that are starting out a tax opprotunity that offsets the disadvantages of having to compete with already established super corportations.

 

[Revoltingest]

Bumping the thread with a message about why we pay taxes....