Tax Plan

[Darth Plagueis]

My plan.

-Across the board tax cuts, implantation of a 10% Single Rate Flat Tax.
-Abolish the Death Tax.
-Abolish the Estate Tax.
-Close all loopholes.
-Cut Corporate Tax Rates down to 10%.
-Abolish the Income Tax, shut down the IRS.

[TJ in Oregon]

Why a flat tax though? Why should we make millionaires and minimum wage earners pay the same percentage when 10% is a serious burden on the lower income folks?

[Darth Plagueis]

Why a flat tax though? Why should we make millionaires and minimum wage earners pay the same percentage when 10% is a serious burden on the lower income folks?

Well, under my plan anyone making under 35,000 would be exempt from taxation. Also, they have a Flat Tax in Russia and the amount of revenue earned far outstrips America. I would also support a FairTax. I support a Flat Tax rate of 8-17%.

[PJ]

My plan.

-Across the board tax cuts, implantation of a 10% Single Rate Flat Tax.
No, higher progressive taxes.
-Abolish the Death Tax.
No
-Abolish the Estate Tax.
No
-Close all loopholes.
Okay, Paul Ryan
-Cut Corporate Tax Rates down to 10%.
No raise corporate tax rates and don't allow corporations to have individual rights
-Abolish the Income Tax, shut down the IRS.
ABSOLUTELY NOT

[Antonio the Sixth]

Why a flat tax though? Why should we make millionaires and minimum wage earners pay the same percentage when 10% is a serious burden on the lower income folks?

Well, under my plan anyone making under 35,000 would be exempt from taxation. Also, they have a Flat Tax in Russia and the amount of revenue earned far outstrips America. I would also support a FairTax. I support a Flat Tax rate of 8-17%.

An American Conservative citing Russia as an example.

Priceless.

[H. Ross Peron]

Why a flat tax though? Why should we make millionaires and minimum wage earners pay the same percentage when 10% is a serious burden on the lower income folks?

Well, under my plan anyone making under 35,000 would be exempt from taxation. Also, they have a Flat Tax in Russia and the amount of revenue earned far outstrips America. I would also support a FairTax. I support a Flat Tax rate of 8-17%.

An American Conservative citing Russia as an example.

Priceless.

Well the online Pravda is a right-wing rag these days which the Tea Party enjoys citing and some American reactionaries have embraced Putin for his anti-gay policies so its not that surprising.

[Redalgo]

-Across the board tax cuts, implantation of a 10% Single Rate Flat Tax.
-Abolish the Death Tax.
-Abolish the Estate Tax.
-Close all loopholes.
-Cut Corporate Tax Rates down to 10%.
-Abolish the Income Tax, shut down the IRS.

I wholeheartedly agree with the corporate tax cuts and simplification of the code but am concerned your proposal will promote vast gulfs of disparity amongst people along lines of wealth and income, causing great inequalities of privileges and individual freedom, as well. Unless the state and local governments respond with significant taxation of their own I doubt there would be sufficient revenue for the state to uphold a broad array of social rights... though I suppose from some perspectives the rights I am most concerned about are not considered things people should have rights to at all in the first place.

My alternative would be:

- Across the board income tax increases, going from a 10% rate up to a maximum of about 50%.
- Close all loopholes and abolish all other taxes, duties, etc. at the state and federal levels.
- Fund forms of social insurance from the general fund rather than via payroll taxes.
- Include inheritance, capital gains, and dividends in calculations of individual income.
- Share federal revenue with the states to effectively harmonize all states' tax rates.
- Forbid local governments from taxing income.

Edit: Being in agreement with TNF that there should be a basic income, I'd make such income tax-exempt.

[TNF]

Income tax
$0 - 28,282........00%
$28,283 - 57,164.......08%
$57,165 - 85,746.......10%
$85,747 - 114,328.......25%
$114,329 - 142,911......29%
$142,912 - 171,493......32.5%
$171,494 - 200,075......36%
$200,076 - 228,657......40%
$228,658 - 257,239......43%
$257,240 - 285,822......46%
$285,823 - 314,404......49%
$314,405 - 371,568......52%
$371,569 - 457,315......55%
$457,316 - 543,061......58%
$543,062 - 628,808......61%
$628,809 - 714,555......63%
$714,556 - 857,466......66%
$857,467 - 1,000,377.......69%
$1,000,378 - 1,143,288....72%
$1,143,289 - 1,286,199....75%
$1,286,200 - 1,429,110....83.5%
$1,429,111 - 2,143,665....89%
$2,143,666 - 2,858,220....92%
$2,858,221+..................95%

Capital Gains tax
Tax the same as regular income.

Corporate tax
Double the top corporate income tax rates and make the tax more progressive. Excess profits tax on any corporation supplying war material.

Estate tax
Replace with a one hundred percent tax on inherited wealth.

Payroll tax
End the payroll tax cap, force high earners to pay into the system.

In addition, implement a universal basic income of $28,282 per individual per year.

[Flake]

Income tax
$0 - 28,282........02%
$28,283 - 57,164.......18%
$57,165 - 85,746.......24%
$85,747 - 114,328.......28%
$114,329 - 142,911......32%
$142,912 - 171,493......36%
$171,494 - 200,075......36%
$200,076 - 228,657......38%
$228,658 - 257,239......39%
$257,240 - 285,822......40%
$285,823 - 314,404......42%
$314,405 - 371,568......44%
$371,569 - 457,315......46%
$457,316 - 543,061......47%
$543,062 - 628,808......48%
$628,809 - 714,555......48%
$714,556 - 857,466......49%
$857,467 - 1,000,377.......50%
$1,000,378 - 1,143,288....51%
$1,143,289 - 1,286,199....53%
$1,286,200 - 1,429,110....55%
$1,429,111 - 2,143,665....57%
$2,143,666 - 2,858,220....59%
$2,858,221+..................60%

Capital Gains tax
Tax the same as regular income.

Corporate tax
Double the top corporate income tax rates and make the tax more progressive. Excess profits tax on any corporation supplying war material.

Estate tax
Replace with a one hundred percent 33% tax on inherited wealth.

Payroll tax
End the payroll tax cap, force high earners to pay into the system.

In addition, implement a universal basic income of $28,282 per individual per year.

[Antonio the Sixth]

Income tax
$0 - 28,282........00%
$28,283 - 57,164.......08%
$57,165 - 85,746.......10%
$85,747 - 114,328.......25%
$114,329 - 142,911......29%
$142,912 - 171,493......32.5%
$171,494 - 200,075......36%
$200,076 - 228,657......40%
$228,658 - 257,239......43%
$257,240 - 285,822......46%
$285,823 - 314,404......49%
$314,405 - 371,568......52%
$371,569 - 457,315......55%
$457,316 - 543,061......58%
$543,062 - 628,808......61%
$628,809 - 714,555......63%
$714,556 - 857,466......66%
$857,467 - 1,000,377.......69%
$1,000,378 - 1,143,288....72%
$1,143,289 - 1,286,199....75%
$1,286,200 - 1,429,110....83.5%
$1,429,111 - 2,143,665....89%
$2,143,666 - 2,858,220....92%
$2,858,221+..................95%

Capital Gains tax
Tax the same as regular income.

Corporate tax
Double the top corporate income tax rates and make the tax more progressive. Excess profits tax on any corporation supplying war material.

Estate tax
Replace with a one hundred percent tax on inherited wealth.

Payroll tax
End the payroll tax cap, force high earners to pay into the system.

In addition, implement a universal basic income of $28,282 per individual per year.

How did you get such precise figures? Seems like an excellent plan.

[Lambsbread]

Income tax
$0 - 28,282........00%
$28,283 - 57,164.......08%
$57,165 - 85,746.......10%
$85,747 - 114,328.......25%
$114,329 - 142,911......29%
$142,912 - 171,493......32.5%
$171,494 - 200,075......36%
$200,076 - 228,657......40%
$228,658 - 257,239......43%
$257,240 - 285,822......46%
$285,823 - 314,404......49%
$314,405 - 371,568......52%
$371,569 - 457,315......55%
$457,316 - 543,061......58%
$543,062 - 628,808......61%
$628,809 - 714,555......63%
$714,556 - 857,466......66%
$857,467 - 1,000,377.......69%
$1,000,378 - 1,143,288....72%
$1,143,289 - 1,286,199....75%
$1,286,200 - 1,429,110....83.5%
$1,429,111 - 2,143,665....89%
$2,143,666 - 2,858,220....92%
$2,858,221+..................95%

Capital Gains tax
Tax the same as regular income.

Corporate tax
Double the top corporate income tax rates and make the tax more progressive. Excess profits tax on any corporation supplying war material.

Estate tax
Replace with a one hundred percent tax on inherited wealth.

Payroll tax
End the payroll tax cap, force high earners to pay into the system.

In addition, implement a universal basic income of $28,282 per individual per year.

It's...it's beautiful...

[barfbag]

Increase Home Owner Mortgage Deduction.
Provide low income housing tax credit to encourage multifamily housing.
No deductions for credit and debit card payments.
Allow for IRA tax deductions for deposits of $2,000 or more.
Require social security numbers for dependents over the age of 5. (I think we do this.)
Remove tax shelters for real estate investments.
Remove marriage tax.
Remove death tax for those with less than $600,000 property value.
Reduce windfall profit taxes by 23%.
Cut capital gains taxes nearly in half.
Provide tax simplification by requiring employers to deduct federal taxes.
Make child tax credit permanent.


Tax Brackets:

income < $64,600      15%
income < $195,000    28%
income < $217,000    33%
income > $217,000    50%

This is my idea of taxation.

[Antonio the Sixth]

Income tax
$0 - 28,282........00%
$28,283 - 57,164.......08%
$57,165 - 85,746.......10%
$85,747 - 114,328.......25%
$114,329 - 142,911......29%
$142,912 - 171,493......32.5%
$171,494 - 200,075......36%
$200,076 - 228,657......40%
$228,658 - 257,239......43%
$257,240 - 285,822......46%
$285,823 - 314,404......49%
$314,405 - 371,568......52%
$371,569 - 457,315......55%
$457,316 - 543,061......58%
$543,062 - 628,808......61%
$628,809 - 714,555......63%
$714,556 - 857,466......66%
$857,467 - 1,000,377.......69%
$1,000,378 - 1,143,288....72%
$1,143,289 - 1,286,199....75%
$1,286,200 - 1,429,110....83.5%
$1,429,111 - 2,143,665....89%
$2,143,666 - 2,858,220....92%
$2,858,221+..................95%

Capital Gains tax
Tax the same as regular income.

Corporate tax
Double the top corporate income tax rates and make the tax more progressive. Excess profits tax on any corporation supplying war material.

Estate tax
Replace with a one hundred percent tax on inherited wealth.

Payroll tax
End the payroll tax cap, force high earners to pay into the system.

In addition, implement a universal basic income of $28,282 per individual per year.

How did you get such precise figures? Seems like an excellent plan.

?

[tmthforu94]

Oh, because it makes perfect sense for someone making a million dollars a year to keep more money than a guy making three million dollars a year.

There's "redistributing the wealth", and then you cross the line into complete unfairness. This crosses that line.

[Antonio the Sixth]

Oh, because it makes perfect sense for someone making a million dollars a year to keep more money than a guy making three million dollars a year.

There's "redistributing the wealth", and then you cross the line into complete unfairness. This crosses that line.

Do you know what a marginal tax rate is?

[TNF]

Oh, because it makes perfect sense for someone making a million dollars a year to keep more money than a guy making three million dollars a year.

There's "redistributing the wealth", and then you cross the line into complete unfairness. This crosses that line.

What's unfair about limiting upper incomes? I mean honestly I'd like to see even more radical redistribution of wealth and perhaps a maximum income, but still, I'd hardly say this is unfair. $2.8 million is plenty for one person to have. Nobody needs that amount of money.

[Oakvale]

15% flat tax, introduce national sales tax, the end.

[DC Al Fine]

Income tax
$0 - 28,282........00%
$28,283 - 57,164.......08%
$57,165 - 85,746.......10%
$85,747 - 114,328.......25%
$114,329 - 142,911......29%
$142,912 - 171,493......32.5%
$171,494 - 200,075......36%
$200,076 - 228,657......40%
$228,658 - 257,239......43%
$257,240 - 285,822......46%
$285,823 - 314,404......49%
$314,405 - 371,568......52%
$371,569 - 457,315......55%
$457,316 - 543,061......58%
$543,062 - 628,808......61%
$628,809 - 714,555......63%
$714,556 - 857,466......66%
$857,467 - 1,000,377.......69%
$1,000,378 - 1,143,288....72%
$1,143,289 - 1,286,199....75%
$1,286,200 - 1,429,110....83.5%
$1,429,111 - 2,143,665....89%
$2,143,666 - 2,858,220....92%
$2,858,221+..................95%

Capital Gains tax
Tax the same as regular income.

Corporate tax
Double the top corporate income tax rates and make the tax more progressive. Excess profits tax on any corporation supplying war material.

Estate tax
Replace with a one hundred percent tax on inherited wealth.

Payroll tax
End the payroll tax cap, force high earners to pay into the system.

In addition, implement a universal basic income of $28,282 per individual per year.

How did you get such precise figures? Seems like an excellent plan.

?

I'm trying to decide how I will do under TNF's plan. On the one hand, my investments will go to pot. OTOH, I should make a bundle helping rich people go offshore.

[King]

Income Tax
8% is what we take out of your first $50,000 of income
6% is added on to that rate on income from $50,000 to $300,000 (14%)
7% is added on after your first $300,000 (21%)

Value-Added Sales Tax
5% on items purchased by individuals greater than $1000 plus alcohol, tobacco, and marijuana
3% on items purchased by individuals from $0.01 to $999.99 that could not be classified as:

0% on items that could be purchased with food stamps (groceries)

Corporate Tax
9% flat on corporate revenues

Pass it, smurfs.

[opebo]

Oh, because it makes perfect sense for someone making a million dollars a year to keep more money than a guy making three million dollars a year.

There's "redistributing the wealth", and then you cross the line into complete unfairness. This crosses that line.

What's unfair about limiting upper incomes? I mean honestly I'd like to see even more radical redistribution of wealth and perhaps a maximum income, but still, I'd hardly say this is unfair. $2.8 million is plenty for one person to have. Nobody needs that amount of money.

Perhaps more to the point, one can only have such incomes by being an enemy of the people.  They should not only be prevented from such enslavement of others, but be prosecuted for the crime of doing so up until now.  Hence, the guillotine.

[Napoleon]

15% flat tax, introduce national sales tax, the end.

Why 15? Why not 9?

[Lambsbread]

15% flat tax, introduce national sales tax, the end.

Why 15? Why not 9?

Why a flat tax at all?

[LastVoter]

Abolish taxes & ownership.

[Oakvale]

15% flat tax, introduce national sales tax, the end.

Why 15? Why not 9?

Why a flat tax at all?

Fairness.

[Maxwell]

Herman Cain