taxes. . .what's fair

[crimsonman]

Taxes are always an issue in an election year. And taxes have been mentioned on a post or two lately. There's a wide variety of thoughts and stances from posters on this board that represents all sides - liberals, conservatives, moderates - and I'd love to know some of your thoughts on what you feel is a fair tax sytem.

I'm personally in favor of a flat-tax system. We already pay so many of the same rates on other taxes, licenses, etc. Everyone pays the same on Social Security taxes. Sales taxes, gasoline taxes, costs of various license whether for driving or for business. Why not have a federal income tax system with a flat rate. The wealthier are still going to pay more - which is exactly what the liberals want to happen.

For the life of me, I can't figure out why our current tax system is so complicated.

It looks to me like everyone would enjoy having a flat tax rate because look at how much simpler doing our tax returns would become. I made this. I'll pay the gov't that. And the rest is mine to do with what I want or need to do with it.

So, that's my thoughts. What are some others?

 

[Tidewater]

Our current ystem is so complicated because so many agents had a hand in creating it over so long a time.
Neal Boortz has advocated a consumption tax of 23% (the more you consume, the more you pay). I believe that the link below is the system Boortz advocated.
http://www.fairtaxvolunteer.org/smart/sketch.html.
Rebates for necessities (helps the poor pay no tax at all), no payroll taxes, etc. This system assumes a drop in overall commodity prices since income taxes go away, etc.
I personally think that there is a lot of "dead weight loss" to the economy each year due to accounting fees, tax prep software, etc.
Plus, the Federal government "giving" taxpayers little treats if they will jump through some social engineering hoop entails some additional dead weight loss on the economy.
A flat income tax, or consumption tax would fix a lot of that.

 

[bwdial]

Yes...yes...yes!


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"There are few talents more richly rewarded with both wealth and power, in countries around the world, than the ability to convince backward people that their problems are caused by other people who are more advanced."

Thomas Sowell

 

[Mamacalled]

A "consumption tax" is hard to set a budget with. During economic downturns, revenues could drop tremendously. Marietta Ga's school board added a one cent tax to raise revenues to build two elementary schools. The tax was just put into place when 9/11 happened. As we all know, the economy tanked after that. Well when all was said and done, they raised only about half of what was expected.
I am for a flat tax though but it will unlikely happen. Do you think the accountants would like that?

[This message has been edited by Mamacalled (edited 03-25-2004).]

 

[crimsonman]

Yeah, "mama," you're exactly right about several not having anything to do if a flat-tax was to be instituted. A friend of mine who is a CPA talked about a flat tax one time and how it would benefit the country so much better. It's been quite some time ago since we talked, but he was really for it! He said there was plenty that accountants could do to make a comfortable living and there'd even be some who'd still want their income taxes done by them (go figure).

Anyway, it makes for some fairly intriguing dialogue and subject matter. I'm not wealthy in any way. I make a comfortable living and have a good house to live in and a dependable car to drive and things like that.

But, I think it is pathetic when liberal politicians start barking about tax cuts and how they benefit only the rich people. It is people who own businesses and do well that deserve the tax breaks, too, because they're providing jobs. The "distribution of wealth" concept is the stupidest thing I personally have ever heard. What this concept has ultimately done is create a system of "Social Insecurity" and a welfare system that is, more times than not, abused to the fullest. People who could WORK don't because there is NO incentive to WORK.

Oh well, this is a soapbox I get on frequently with some of my liberal buddies. I just listen to their stupidity

and go on about my rat killing.

.