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susquesus
Mad Hermit of the North Woods
USA
Bumppo's Patron since [at least]:
September 03 2003
Status: offline
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 Posted - December 23 2003 : 2:20:20 PM
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Poll Question:
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.
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Dances with Beagles
Colonial Settler
USA
Bumppo's Patron since [at least]:
May 19 2002
Status: offline
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 Posted - December 23 2003 : 8:50:08 PM
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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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SgtMunro
Soldier of the King
USA
Bumppo's Patron since [at least]:
September 23 2002
Status: offline
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Posted - December 23 2003 : 10:16:36 PM
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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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Serjeant-Major Duncan Munro
Capt. Thos. Graham's Coy.
42nd Royal Highland Regiment of Foote
(The Black Sheep of the Black Watch)
"Nemo Me Impune Lacessit"
-Or-
"Recruit locally, fight globally." |
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Dances with Beagles
Colonial Settler
USA
Bumppo's Patron since [at least]:
May 19 2002
Status: offline
Donating Member |
Posted - December 26 2003 : 12:31:13 PM
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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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Income tax - flat rate
