PoliCHARTZ - Thread of U.S. Politics & the Presidential Election

[Final-Fan]

Kasz216 said:

Final-Fan said:

Kasz216 said:

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 [edit:  current stock] market hazard.

Anyone who considers videogames or college basic needs are basically unreasonable.
Basic needs = what you need to live a healthy life.
The constitution above all else gives us three things.
Life, Liberty and the Pursuit of Happiness.
Life = Basic Needs
Liberty = Not restricting people unneededly.
Pursuit of Happiness = Not getting in peoples way in what they want to do.

But what is needed for a "healthy life"?  Is it sheer survival or is there anything more that is required for a "healthy life"?

Anyway, have you no comment on the rest of it?  What do you think of the stock trade tax idea?

I've got nothing against taxing investments in a flat tax system.  Or rather the profits off said investments.  Just another part of "income" to me.

Any money made would be taxable if you ask me.  If I got to set it up you'd pay as much off of what you made off your stock margins as you did off of a paycheck.  At the time of sale though... otherwise you'd just constantly get hit everytime your stock price went up, and get no relief when it dropped.

As for argueing about taking 20% of 20,000 hurting more then 20% of 200,000.... isn't an arguement based on any numbers or anything so it's kinda hard to argue.  I could just as equally argue that 20% of 200,000 is more harmful because it's more money and the person could buy more stuff with said money.

20% is always 20% though.

I think you're misunderstanding the idea of a stock trade tax.  But I guess I could be misunderstanding the idea as it was told to me.  What I understand it to be is like a sales tax on stock.  You trade it, 0.1% of the money you get goes to Uncle Sam.  That's aside from capital gains tax and whatever. 

I guess I could probably go dig up studies if you want, but I thought it could be settled as an intellectual exercise.  If a man makes $10 million, I'm sure he could find a way to spend it all, but I seriously doubt he would be "harmed" by the government taking half ($5 million) of it away as much as a man who makes $50,000 would be "harmed" by the government taking half ($25,000) of it away.  I am confident this is true even if we take it as given that the cost of basic survival is not counted in those incomes.  I mean, unless you defined "harm" as "number of dollars they don't get", but I don't think that's a good definition. 

Anyway, Warren Buffet says he keeps a bigger percentage of his income currently than do his secretary and housekeeper, so I think we can afford to raise the top marginal rates even if you support a flat tax.