Final-Fan said:
Kasz216 said:
Final-Fan said:
So Kasz216, you favor a Flat Tax? |
Not as of yet. However I don't favor raising the tax percentages either. Doing that to the people who actually do a large portion of investing and job creating seems like suicide with the financial situation as it is.
I think a flat tax in the end is probably fair. Yet not feasable considering how the government currently runs, and that if we cut back on a lot of the useless crap the government does and focus some money on other needs like healthcare and other needs.
I mean.... once everyone is taken care of by their basic needs... what's unfair about a flat tax?
Once the basic needs are taken care of on all what's wrong with having a flat tax? |
Two basic comments:
What constitutes "basic needs"? Food and shelter? Food, shelter, and clothing? Food, shelter, clothing, and video games? College? Opinions are going to differ.
I would argue that taking 20% of $20,000 hurts a lot more than taking 20% of $200,000. That's why I don't favor the flat tax at all.
As far as taxing investments, I'm willing to get into this if you want, but preferably we might create a devoted Flat Tax discussion thread if we're really going to go at it. But one thing I recently heard of is that in the past there has sometimes (in dire times such as this IIRC) been a very small (0.1%) tax on stock trades. This would certainly cut down on market volatility, which I believe has been named as the biggest market hazard.
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Personally, I've always been a fan of creating a flat tax system where you allow everyone to earn a certain ammount of money tax free. For example, if you say that an individual pays 20% of their income in tax after they have earned 10,000 per year it works out to a 0% tax for people who earn 10k, a 10% tax for people who earn 20k, a 15% tax for people who earn 40k, and keeps climbing from there.
Its simple, fair and easy, and people can complete their tax return on a post-card.
