should we revamp the tax system?

[crazyralph]

ok a recent topic on welfare has brought up another issue, should we revamp our current tax system? Should there be a flat tax, a national sales tax, or should it stay as a progressive tax? Is a progressive tax fair, is a flat tax fair? How about a national sales tax, would that be unfair to the poor and middle class? Keep it civil please there are going to be many different viewpoints. I'll elaborate a little more on each. The progressive tax is the tax system in place now the more you earn the more tax you pay. Also on that note the less you earn the less you pay if you pay anything. With a flat tax every person would be charged a flat income tax no matter how much you earn. If you make 10,000 a year or 100,000 a year you would pay say 10 percent(this is not accurate just an example) A National sales tax is a tax added on to items purchased. With this system there would be no more federal income tax you pay your tax by buying items.

[Christian]

you already pay your tax on buying items, no way the gov will short itself. In a perfect world a flat tax would be cool, but someone has to bite the bigger piece of the bullet. My problem is what we spend the money on.....like borrowing and loaning to other countries, then you know who ends up paying for both on the top and the bottom? Yep you guessed it, tax payers. I'm like Fugg it because it will never change, sounds good-but won't happen

[Deoxyribonucleicvitriol]

I think we're doing alright... On a similar but different note.. I think people should have to take some kind of intelligence test to determine their eligibility to vote... I know that could never happen soon becuase of "prejudice" or whatever... but ignorant/unintelligent people just don't have the minds to make well.... informed intelligent decisions!!

Why I'm saying this is becuase my state has like a 9.25% sales tax because our stupid residents voted not to have an income tax... Hope you're enjoying your no income-tax you crazy people, because I'm not enjoying my sales tax!

[3.4 [deployed]]

Are you fron Tennesse? Lat time I went there, the state tax went from like 7% or so to 9%. When I lived in Texas, tax was 8.25%, which wasn't too bad, as it's about the same as Northen VA (that may have changed in VA). Maryland had the best state tax (for a state that has them ) that I've lived in: 5%. I didn't have to deal w/their state income tax forms though.

edited due to reading too many lounge posts [img]graemlins/slap.gif[/img]

[ August 17, 2004, 08:10 PM: Message edited by: 3.4 [deployed] ]

[Machiavelli]

All taxes are unfair.

However, the MOST unfair and damaging to society are regressive taxes such as sales taxes, flat taxes, etc.

Nate: its called CSM, College of Southern Maryland. And really, no one calls it "Chuck County" - oh yeah and its practically ghetto now in places.

As for revamping the tax system? Hardly revamping... adding another couple tax brackets targetting the ridiculously rich, and HUGE reforms on the estate tax so that people DO NOT lose family farms and buisnesses would be a very helpful step.

[3.4 [deployed]]

Dammit, it was Chuck County when I went there [img]graemlins/twak.gif[/img] [img]tongue.gif[/img]

edit: I suppose Northen VA COmmuntiy College, aka NOVA, has changed it's name too?

I keep hearing stuff about the Fair Tax thingy. Maybe I'll actually read up on it someday

anyway:

and HUGE reforms on the estate tax so that people DO NOT lose family farms and buisnesses would be a very helpful step.

This is something EVERYBODY should be for.

[Th3 RiCk]

Here's my view on the whole issue. Who is more inclined to investing their money into companys, stocks, yadda, yadda, yadda? The rich are. Joe Schmoe who makes 15k a year is not going to go out and start a restaurant, clothing store, or invest 10k into stocks and bonds. So taxing a 150k a year man to death is going to influence him to invest less. When there are more people investing their money the better off the economy is. The better off the economy the more people will spend and earn. Now I'm not saying tax the lower brackets like crazy, but the upper brackets shouldn't be slammed with the bulk of taxes. But nothing is flawless so there would probably be problems. Such as, will the 150k a year man actually invest more or go out and buy a new benz?

[Johnny Ray]

It doesn't matter to me.

I can live with the current system or be open-minded to a new and improved one if it would ever happen.

:cool:

[speedracer95v6]

flat percentage tax..the only fair way

[5_spd_pewter_v6]

a flat tax is the way to go. that way, the more you make, the more you pay.

Machiavelli, how is a flat tax regressive? I'm not trying to start a fight, just wondering how you see it that way.

[3.4 [deployed]]

actually, the worst tax is "value added tax"

[Machiavelli]

a flat tax effects those in need considerably more than it effects the rich.
If the flat tax were say 10% someone who makes 15 grand would have to give 1.5 grand. Someone who made 100,000 would have to give 10 grand. 10 grand is lot less of a loss to someone making 100g than 1.5g is to someone making 15. It can make the difference between subsistance and below subsistance - while for the six figure maker it is an "unfortunate expense".
Beyond that, 10% flat tax WOULD NOT BE ADEQUATE. There would have to be a 30%+ flat tax to generate adequate revenue - then we're talking about poor people AND lower/mid middle class people really getting **** on, but the upper middle and rich are still alright because that is less than the tax level they are paying now.

There is inherently no fair tax system - the injustice must be handled by those that CAN handle it, not those who cannot. That is the way the world works.
I find it funny that all of you who are *****ing about how unfair the tax system is really will gain NOTHING from a flat tax.

[Denis]

From yesterday's Baltimore Sun...

"The wealthiest 20 percent of households in 1973 accounted for 44 percent of total U.S. income, according to the Census Bureau. Their share jumped to 50 percent in 2002, while everyone else's fell. For the bottom fifth, the share dropped from 4.2 percent to 3.5 percent."

"New government data also shows that President Bush's tax cuts have shifted the overall tax burden to the middle class from the wealthiest Americans. "