DomKen
Posts: 19457
Joined: 7/4/2004 From: Chicago, IL Status: offline
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quote:
ORIGINAL: BamaD quote:
ORIGINAL: DomKen quote:
ORIGINAL: BamaD quote:
ORIGINAL: joether Its like those 'flat tax' ideas that roll around every presidential election from conservatives. How there new 'tax system' is better than the one we currently have. That its a flat 5-14% of one's gross income. There is perhaps 29 different versions, and many times that in second and third tier publications. All of them light on facts, how the mechanics would operate, and whether it would be a better system for the taxpayer and/or the nation as a whole. Conservatives running for office were often 'light on facts' and bit on 'promisese'. Each of the flat taxes to which I could get solid information and numbers from, placed the bottom 95% of Americans at paying 26-49% of their gross income in taxes. And the upper 5%? Well, they will just make that money back next month, so they are all in favor of it. So each of these, like 'trickle down economics' and 'businesses create jobs' is absolute bullshit. I like the conservatives that demand we should place the dollar on the gold standard again. Notice none of those individuals show a dis-closer of how much of their wealth is tied up in gold? Yeah, those types I love too, since their lying sacks of shit! What would happen to the economy if we did? Would be wrecked within a few months. Would make the Great Depression feel like a tea party.... Again, what 'ideas' and 'thoughts' from conservatives have any merit to the problems this nation is facing? Absolutely none. So why bother voting for them? 14=49 remedial math is in order. they make it back the next month, that doesn't mean they didn't spend it. every plan I have seen has the upper income people paying a much larger % of the taxes than they do now. Bull. Every flat tax scheme is a huge gift to the upper incomes. For instance most such schemes exclude all capital gains from income so the truly wealthy would pay no taxes on their income at all. The sales tax schemes of course are truly regressive since the higher the income the less is spent as a percentage of income etc. Not even remotely true. The only deductions are for personal deductions for members of your family, thus the more you make the higher percentage you pay. Example. The Armie plan. 11,500 for the adults and 5,000 per dependent Family of 4 that is 33,000 in deductions. Now I realize that this might be hard dor you to follow but if they make 50,00 they pay 15% of 17,000 If they make 100,000 they pay 15% 0f 67,000. 15% of 67,000 is a far greater % of 100,000 than 15% of 17,000 is of 50,000. This is the type of "flat rate" plan conservatives back. And it did not exclude capital gains. The Armey plan? That one excludes all capital gains. So its a nice big gift to the wealthy. Try not to get suckered in by that sort of stuff.
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