Tax Law Ignorance

[onenursebrandy]

A 10% tax on everyone's income would make life much harder for those who can barely afford to get by as it is, and would be a windfall to the very rich, who already have more money than they could spend in 10 lives. That's why we (and other advanced countries, like those in Europe), have a progessive tax code that has different rates based on income.

Agree with you that the American tax code has way too many legal loopholes for corporations.

Flat tax would actually give most lower and especially middle class a tax break!! If you are speaking in terms of a TRUE flat tax. Sales tax alone is over 9%...and every utility has separate usage tax, then there's income tax, and social security tax, and land tax, and vehicle operations tax, then extra taxes on "luxuries" and really stick it to anyone who uses gas, drinks, or smokes....those taxes are usually more than quadruple the normal sales tax rate. This is certainly not an inclusive list....the amount of taxes we all pay is well over 10% in most cases.

 

[Dakota731]

windfall to the very rich, who already have more money than they could spend in 10 lives.

Let's say you make $50,000 then you are rich to someone who makes $20,000 so then you should pay half your income in taxes by your logic, right? It's all relative - we all make more than some people and we all make less than some people. And someone making $100,000 in a large city may sound rich, but the cost of living is so high that they are only getting by. But this jealousy and let's sock it to the rich attitude in this country is only causing divisiveness. Let's have a fair tax so that everyone has some skin the game and get rid of the all the loopholes and credits and stop trying to punish people who work hard and try to become successful and support their families.

 

[MillauFr]

Those K Street lobbyist would never allow the federal government to get rid of those loopholes and tax credits. They get paid millions for a reason.

 

[tvguy]

Those K Street lobbyist would never allow the federal government to get rid of those loopholes and tax credits. They get paid millions for a reason.

Forget the lobbyists. Look at how many people are employed in the tax "industry". How many jobs would be lost from H & R Block, tax lawyers, Enrolled Agents, CPA's and the IRS if we went to a simple tax system. One that has no deductions, 10% of what you make over $20,000.