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Coda1108
Mayor's Aide
Joined: 13 Jun 2006
Posts: 130
Location: PA
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 Posted: Mon Jul 10, 2006 11:59 pm Post subject: Flat Tax... Sane or Insane? |
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So what does the board think about the adoption of a national flat tax? Here in the US it's been talked about once in a while. With all the crazy tax law and loopholes, etc. it would certainly be an administrative improvement.
This is why I think it will never happen... Think of all the IRS; State Tax and CPA firms who would be out of a job.
While it seems a bit radical, I'm hard-pressed to find much wrong with the idea. I'm sure I'll here some opposite opinions, and frankly I'm open to being a bit on the fence on this one. It's one of those issues that I've only given cursory thought to... primarily because of what I wrote about why I don't think it will ever happen. So why should I worry about something that won't ever happen  |
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julian4239
Mayor
Joined: 07 Jun 2006
Posts: 211
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| Posted: Tue Jul 11, 2006 4:46 am Post subject: |
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| There are a lot of pros and cons to the flat tax and it's a little controversial. I doubt we'd get a popular vote on this. |
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Thumperfive
Mayor
Joined: 11 Jun 2006
Posts: 222
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| Posted: Tue Jul 11, 2006 5:39 am Post subject: |
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| it's an interesting idea, but the problem is that the tax system is SO mucked up right now that it'd take years to figure out how NOT to end up in the same situation, if not worse! |
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Coda1108
Mayor's Aide
Joined: 13 Jun 2006
Posts: 130
Location: PA
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| Posted: Tue Jul 11, 2006 10:24 am Post subject: |
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Personally, I think the issue to it happening is more politcal. If it were to happen, the beauty would be in its simplicity... Gone are all the many forms and loopholes. It would just be... "Here's how much you earned. X% is this much, withheld from your check..... Thanks for doing business with the United States Government."
Problem with this is we wouldn't need CPA's to fill out the 25 pages of forms, and the IRS wouldn't need a staff of hundreds of thousands to process those forms. |
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Thumperfive
Mayor
Joined: 11 Jun 2006
Posts: 222
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| Posted: Wed Jul 12, 2006 5:54 am Post subject: |
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there is a certain appeal, that's for sure...
*sighs*
ah, that would make tax time so much more fun. |
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Nogard
Mayor's Aide
Joined: 14 Jun 2006
Posts: 130
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| Posted: Thu Jul 13, 2006 7:28 am Post subject: |
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| I don't think it will ever happen. But I think the American public should be able to vote on things like this anyway. |
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Dolly
Mayor
Joined: 17 Jun 2006
Posts: 247
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| Posted: Sat Jul 22, 2006 4:26 am Post subject: |
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So, how does your tax system work now?
This is something I've always wanted to know! |
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Coda1108
Mayor's Aide
Joined: 13 Jun 2006
Posts: 130
Location: PA
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| Posted: Thu Jul 27, 2006 10:34 pm Post subject: |
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| Dolly wrote: | So, how does your tax system work now?
This is something I've always wanted to know! |
... This is something we Americans have wanted to know as well, Dolly.. ha-ha-ha.
Seriously, there are laws passed every year that change so many aspects of tax filings that CPAs (Certified Public Accountants) take classes to learn the impact of the new laws... then they charge clients to do their taxes. To give you an idea of how I personally deal with this... tax deadline day is supposed to be April 15th of the following year. I (once again!) filed an extension, and am still gathering what I need to file my 2005 taxes!!! |
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reviewer
Mayor's Aide
Joined: 04 Dec 2006
Posts: 145
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| Posted: Mon Dec 04, 2006 9:11 am Post subject: |
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| I, as many Americans, would support simpler tax, but not in the guise of a flat tax. I would support a simple tiered system so that income up to a certain point (say $17,000) was not taxed and then there were various brackets. |
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Coda1108
Mayor's Aide
Joined: 13 Jun 2006
Posts: 130
Location: PA
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| Posted: Mon Dec 04, 2006 11:13 pm Post subject: |
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| reviewer wrote: | | I, as many Americans, would support simpler tax, but not in the guise of a flat tax. I would support a simple tiered system so that income up to a certain point (say $17,000) was not taxed and then there were various brackets. |
Unfortunately, this is too much like our current system, with the exception that the first "Bracket" is taxed at 0%.
Now if we said this, and also that there were no deductions... or only a few for major items such as mortgage interest, and possibly some type of health care index system resulting in a deduction, then it would truly be simple. |
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reviewer
Mayor's Aide
Joined: 04 Dec 2006
Posts: 145
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| Posted: Tue Dec 05, 2006 8:22 am Post subject: |
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| I don't think it's "too much like" our current system at all. Removing deductions (except possibly for tax-exempt), different rules for married vs single, kids vs no kids, capital gains, etc. |
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Coda1108
Mayor's Aide
Joined: 13 Jun 2006
Posts: 130
Location: PA
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| Posted: Tue Dec 05, 2006 9:20 pm Post subject: |
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| reviewer wrote: | | Removing deductions (except possibly for tax-exempt), different rules for married vs single, kids vs no kids, capital gains, etc. |
Yes, this would make it different... And actually, I like your idea of the first X% being non-taxable, as it enables the lowest income earners to keep what they earn.
Just as long as we get rid of the loopholes that create unfairness at the highest brackets. |
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reviewer
Mayor's Aide
Joined: 04 Dec 2006
Posts: 145
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| Posted: Wed Dec 06, 2006 7:19 am Post subject: |
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| Sadly, it won't happen. The rich have too many resources to lobby for tax law that is to their greatest benefit. |
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