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| T O P I C R E V I E W |
| susquesus |
Posted - December 23 2003 : 2:20:20 PM
Are you for or against the idea of a flat tax rate? i.e. regardless of the amount of your income all citizens would pay the same percentage of their income as tax. If I make 30,000 a year I pay 20% of that, if I make 300,000 a year I pay 20% of that. This idea usually bugs folks in the upper income bracket as they assume that they should pay a lower % because that % is a higher $ amount than someone with lower income. Low income folks usually are for it as they currently pay out a higher % of their income than do high income folks. |
| 3 L A T E S T R E P L I E S (Newest First) |
| Dances with Beagles |
Posted - December 26 2003 : 12:31:13 PM
quote:
Originally posted by SgtMunro
Hi Dances, the guy you are thinking of is Steve Forbes (Who is also one of the world's wealthiest men). And yes, a flat tax is just that, no write-offs, no shelters, your 1040 form would look like a 3 X 5 card.
Silly of me to forget...the Forbes live/lived in NJ, too!
They say that Memory is the 2nd thing to go....!
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| SgtMunro |
Posted - December 23 2003 : 10:16:36 PM
Hi Dances, the guy you are thinking of is Steve Forbes (Who is also one of the world's wealthiest men). And yes, a flat tax is just that, no write-offs, no shelters, your 1040 form would look like a 3 X 5 card.
I'm in favor of a flat tax, 18% across the board for starters, we can always go down from there.
Your Most Humble Servant,
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| Dances with Beagles |
Posted - December 23 2003 : 8:50:08 PM
Could you please qualify "flat tax" for me? I just want to be clear before I cast my vote!
Would the higher income people still be able to claim various write-offs, losses, etc.? And can income still be sheltered?
Or, does flat tax mean just that....you pay the true % of income, NO write offs! That would certainly make tax time much simpler.
(BTW....who was the candidate that proposed having the flat tax just a few years ago??...my memory fails me right now!) |
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