FY56 Posted January 29, 2023 Report Share Posted January 29, 2023 GOP pushing for a fair or flat tax. Theatrics? House GOP keeps up attack on IRS with bill to abolish the agency as Biden tries to rebuild it | CNN Politics Does Schumer and the Dems have a point, or he distorting the facts.? This “Fair Tax Act” is truly foul stuff: The Republican tax plan would raise the cost of buying a house by $125,000. It would raise the cost of buying a car by $10,000. It would raise your average grocery bill by $3,500 a year at a time when people are already worried about the high price of groceries. How can they do this? Things like eggs are already too expensive, but Republicans want to slap another $1.50 to that price. The plan would make a gallon of milk cost another $1.70 more." - Chuck Schumer Quote Link to comment Share on other sites More sharing options...
Vambo Posted January 29, 2023 Report Share Posted January 29, 2023 How does the Fair Tax Act work? The FairTax allows Americans to keep 100 percent of their paychecks (minus any state income taxes), ends corporate taxes and compliance costs hidden in the retail cost of goods and services, and fully funds the federal government while fulfilling the promise of Social Security and Medicare. Americans for Fair Tax - Senate Finance Committee https://www.congress.gov/bill/118th-congress/house-bill/25 Quote Link to comment Share on other sites More sharing options...
hoorta Posted January 29, 2023 Report Share Posted January 29, 2023 2 hours ago, FY56 said: GOP pushing for a fair or flat tax. Theatrics? House GOP keeps up attack on IRS with bill to abolish the agency as Biden tries to rebuild it | CNN Politics Does Schumer and the Dems have a point, or he distorting the facts.? This “Fair Tax Act” is truly foul stuff: The Republican tax plan would raise the cost of buying a house by $125,000. It would raise the cost of buying a car by $10,000. It would raise your average grocery bill by $3,500 a year at a time when people are already worried about the high price of groceries. How can they do this? Things like eggs are already too expensive, but Republicans want to slap another $1.50 to that price. The plan would make a gallon of milk cost another $1.70 more." - Chuck Schumer A flat tax would cost folks in the bottom 10% of income proportionally more than opposed to those in the top 10%. Folks in the top 1% don't have to worry how much groceries cost. Hence Shurmer and the Democrats screaming. FWIW, I'd actually be in favor of some limited flat tax, but still keep the IRS. Getting rid of Social Security and Medicare taxes are a Republican pipe dream. They're DOA in the Senate, and Biden would veto it anyway faster than you can say "veto". 🙄 Hmmm... Germany has a 19% VAT, and I don't notice that's a fiscal disaster. FWIW, over 100 other countries have one too... We're the last major holdout without one. . Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted January 29, 2023 Report Share Posted January 29, 2023 "gosh".................... buying a loaf of bread costs more of the % of the poor's income than the rich folks. gosh. all percentage of income per purchase must be the same, eh? No wonder the woodpecker hawks all this gibberish. https://corporatefinanceinstitute.com/resources/accounting/flat-tax/ I'm no expert - but simply establishing and raising a non-taxable income would protect the poor. However, I think you'd have to raise a good bit higher than Senator Cruz suggested. But, with the left passing exorbitant trtillion dollar nonsense bills - no amount of taxation will pay that debt off. Maybe double the $36,000 as non-taxable. And stop the gaming of the system by corporations who play deductions to the extreme. Right now, the IRS is corrupt and the tax laws are asininely confounding. MUST be fixed. " Disadvantages of Flat Tax The opponents of the flat tax say that the tax system is unfair and that it places an excessive burden on low-income earners. Even though the system imposes a uniform tax rate for all income categories, it leaves low-income earners with less money to live comfortably and maintain their standards of living. On the other hand, high-income earners are left with a lot of money to spend that is disproportionate to the net income after taxes for low-income earners. However, this criticism overlooks the fact that most flat tax proposals include an exemption from any taxation for the lowest income earners – like the exemption up to $36,000 in Senator Cruz’s proposal." 1 Quote Link to comment Share on other sites More sharing options...
hoorta Posted January 31, 2023 Report Share Posted January 31, 2023 On 1/29/2023 at 4:51 PM, calfoxwc said: Disadvantages of Flat Tax The opponents of the flat tax say that the tax system is unfair and that it places an excessive burden on low-income earners. Even though the system imposes a uniform tax rate for all income categories, it leaves low-income earners with less money to live comfortably and maintain their standards of living. On the other hand, high-income earners are left with a lot of money to spend that is disproportionate to the net income after taxes for low-income earners. However, this criticism overlooks the fact that most flat tax proposals include an exemption from any taxation for the lowest income earners – like the exemption up to $36,000 in Senator Cruz’s proposal." So Question... Who you going to apply to to get your exemption, Not the IRS- it's gonzo. A disproportionate of those folks living below the $36k threshold aren't exactly the brightest bulbs on the tree with the ability to apply for their exemption either.. Expect a ton for bureaucratic red tape to get it.... Hey Cal.... Would YOU want to save a year's worth of grocery receipts? Don't think so, unless you're totally anal retentive about that.... Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted January 31, 2023 Report Share Posted January 31, 2023 6 hours ago, hoorta said: So Question... Who you going to apply to to get your exemption, Not the IRS- it's gonzo. A disproportionate of those folks living below the $36k threshold aren't exactly the brightest bulbs on the tree with the ability to apply for their exemption either.. Expect a ton for bureaucratic red tape to get it.... Hey Cal.... Would YOU want to save a year's worth of grocery receipts? Don't think so, unless you're totally anal retentive about that.... I used to start the year with a bag and which I kept ever received because I'm self employed. That didn't last more than a few months every year. Now I don't even bother. The amount of tax I pay doesn't seem to change all that much depending on tax cuts or tax raises. The tax money goes for shit I don't want but I suppose that's the same for everybody. WSS Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted January 31, 2023 Report Share Posted January 31, 2023 10 hours ago, hoorta said: So Question... Who you going to apply to to get your exemption, Not the IRS- it's gonzo. A disproportionate of those folks living below the $36k threshold aren't exactly the brightest bulbs on the tree with the ability to apply for their exemption either.. Expect a ton for bureaucratic red tape to get it.... Hey Cal.... Would YOU want to save a year's worth of grocery receipts? Don't think so, unless you're totally anal retentive about that.... I don't do no stinkin receipts. Put the No tax level built into the law. Simply show your income, if it's lower than the threshold you don't owe any tax. Given a threshold of say, 50,000 bucks, whatever, anything over that, a flat tax. What is so tough to figure about that? The progressive tax is DE-incentivizing. And the tax laws are so complicated, it's asinine. As to that threshold, who cares if you make 51,000 bucks? ten percent of that extra thousand is only a hundred bucks. The seemingly infinite complexity of our current tax laws reek of big corporate manipulation, the irs can/will go after people politically with any kind of slight deviation from a mountain of complexity. Of course, if the irs favors your politics, you can break laws and nothing happens. Right now, even if a flat tax brings in more money, we are in over 31 TRILLION in debt, and most all of us, I think, can't wrap our brains around the devastation of our American lives that is bound to happen eventually. https://knowablemagazine.org/article/society/2021/danger-high-public-debt-is-not-what-you-think 1 Quote Link to comment Share on other sites More sharing options...
ballpeen Posted January 31, 2023 Report Share Posted January 31, 2023 I don't think we need 80,000 more IRS agents, Especially armed ones. Sounds like private Army to me...a Gestapo unit of the US Government. 2 2 Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan1 Posted January 31, 2023 Report Share Posted January 31, 2023 We need 80,000 more border patrol and to ENFORCE the law. 1 Quote Link to comment Share on other sites More sharing options...
FY56 Posted January 31, 2023 Author Report Share Posted January 31, 2023 1 Quote Link to comment Share on other sites More sharing options...
FY56 Posted February 1, 2023 Author Report Share Posted February 1, 2023 Seems a fair tax is the way to go. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted February 1, 2023 Report Share Posted February 1, 2023 But does it provide for reparations for injustice done to certain groups of people in the 18th and 19th century? WSS 1 Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted February 1, 2023 Report Share Posted February 1, 2023 2 hours ago, Westside Steve said: But does it provide for reparations for injustice done to certain groups of people in the 18th and 19th century? WSS 1 Quote Link to comment Share on other sites More sharing options...
nickers Posted February 1, 2023 Report Share Posted February 1, 2023 47 minutes ago, Canton Dawg said: We owe Native Americans nothing because... There's no such thing as Native Americans... They were Migrant immigrants just like everyone else that came here... See the Mass Alaskan ice bridge whence by way they got here... It's all bullshit... 1 Quote Link to comment Share on other sites More sharing options...
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