Kasz216 said:
Final-Fan said:
Kasz216 said:
I would replace the corporate tax with a corporate vat. That way we tax all companies who do business here, rather then just the ones who are nice enough to locate here and create jobs here.
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I hadn't thought of it that way. At a glance, it does seem like handling corporate taxes by VAT is a good idea. But for personal taxes, I think income taxes are fine -- except, of course, that the tax code needs simplifying, but that's a different topic.
[edit: but wait, how would that even work? A VAT is a sales tax.]
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Similar to how it works in Michigan i'd think... but without the property and payroll restirctions.
http://www.michigan.gov/taxes/0,1607,7-238-43533-154440--,00.html
Granted Michigan isn't exactly tops when it comes to state economies, but I don't think it's related to the Single Buisness Tax.
As for Income taxes, not really against, them, but they don't really do what they mean to do either. Not only would I simplfy them, i'd try and find a forumla to make them more equitable without moving into "Wealth tax" territory since wealth taxes tend to have negative effects.
I mean, the point of an income tax is supposed to be more "fair" drawing revenue wise based on what you earn, but a lot of people earn a lot, then almost nothing later on. Like say your average NFL player who plays 3.5 years, makes a few hundred thousand dollars a year, then is out and working a lower paying job because he didn't finish college, or if he did probably majored in something useless/had a bad grade average.
Perhaps have higher "base" level taxations, but if your average lifetime salary is lower then the level your at now, you pay the lower level number.
Would theoretically help people who should have less money, build up more wealth.
The way income taxes are now, it's a half assed attempt at something. If your going to do someting, you may as well do it right.
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