The Flat Tax

[ThePokerAddict]

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That wasn't fair man!

Some people had to pay a 91% marginal tax rate while those leeches at the bottom only paid 15%! I say we tax the poor more. They can afford it!

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Stop dodging how corporations do not pay nearly anything close of what they earn on U.S. consumers and exports from this country, instead of talking about the ridiculously high tax rates the rich paid during previous adminstrations, most notably Jimmy Carters.

In fact, there was over a 70% tax rate on the top 2% of the country. What happen? The middle class decreased, and so did the amount of people in the top 2% as well. Don't forget that juicy unemployment at over 10% and interest rates higher then that as well.

What's wrong with actually letting people KEEP MORE OF THERE MONEY FOR ONCE, and closing all the loopholes instead of making it more profitable for companies to shift employment overseas?...

[InchoateHand]

Wait a minute. You are saying that tax policy determines family income? Monocausality baby---it a sin in most systems, and it is the mark of a prepubescent neophyte in economics. You need to get out of the kiddie pool and start making some moves.

Tax systems determine class structure. Beautiful. Any more precious insights to share?

[ThePokerAddict]

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Wait a minute. You are saying that tax policy determines family income? Monocausality baby---it a sin in most systems, and it is the mark of a prepubescent neophyte in economics. You need to get out of the kiddie pool and start making some moves.

Tax systems determine class structure. Beautiful. Any more precious insights to share?

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Yes, tax systems determine class structure. But in terms of the truck driver keeping over $7000 more to his name, I'd say that gives him a very good start on allowing him to move up to the next class by adding assets, and growing real wealth in forms of stocks, bonds, IRA accounts, etc.

[InchoateHand]

Actually, the big problem with untaxed/undertaxed corporations is an enforcement issue--give the IRS teeth, and get rid of Texas oil-(wannabe)barons and their sycophants in elected office and you might be able to fix some numbers. Unlikely, but possible.

[InchoateHand]

Priceless. Where pray tell do you attend Kindergarten? Can I come to your graduation?

[ThePokerAddict]

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A flat tax doesn't necessarily mean a simplified tax system. We could, after all, leave all laws currently on the books and just change the marginal tax rate so that everybody pays the same at every income.

You're going to trust a business to decide what its income was and just have them send in a postcard telling the government what it owes?

Anyway, we already have a flat tax system.

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You should never trust anybody... an IRS should exist, but do we need 280 forms and 480 forms that explain how to fill out 280 forms? Hell no. 1 form, get's turned in, your done. Everyone keeps more of what they worked for, and everyone doesn't get penalized for trying to take it and gain wealth with it by investing.

[andyfox]

"there was over a 70% tax rate on the top 2% of the country."

Only on that portion of their income that was over the 70% threshold. Nobody paid 70%.

[ThePokerAddict]

[ QUOTE ]
Actually, the big problem with untaxed/undertaxed corporations is an enforcement issue--give the IRS teeth, and get rid of Texas oil-(wannabe)barons and their sycophants in elected office and you might be able to fix some numbers. Unlikely, but possible.

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The same goes with the Justice Department who have done jack to collect fees from white collar criminals who owe hundreds of millions of dollars. Nothing will likely happen, and I'm pissed off at both the Clinton and Bush II adminstrations for doing nothing about it.

However, I don't see how cutting the cost of government, while letting people keep more of there money -- plus introducing more rich and corporation tax dollars into U.S. government revenue + the closing of loopholes is a bad thing. In fact, I'd call you crazy in my opinion if you think otherwise! [img]/images/graemlins/smile.gif[/img]

[ThePokerAddict]

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"there was over a 70% tax rate on the top 2% of the country."

Only on that portion of their income that was over the 70% threshold. Nobody paid 70%.

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You should know as well as anyone though, the number of affluent Americans fell as did the number of middle class Americans to lower income brackets...

[InchoateHand]

Aha---"you should know as well as anyone...." Hmmmm....what was your old alias?