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User Name Thread Name Subject Posted
Susu's Hubby BS: What's a fair tax rate? (31) RE: BS: What's a fair tax rate? 11 Feb 09


I couldn't agree more, Wesley.

The way I see it.....it should be one of two ways.

1. Flat Tax

Everyone will be subject to a 17% across the board tax on any and all income, with the first $10,000 - $12,000 being exempted from taxing, providing the person does not make over $100,000/yr. All those making over $100,000 then all income is taxed.

Forms are simplified.
Easy to figure.

No more hand-wringing as the 15th of April gets closer and closer.

2. Consumption Tax

First, abolish the IRS.

Then with them out of the way, the government applies a 20% tax on all goods bought and sold with the only exception being food.
This will put an additional burden on businesses to be the collection agency for the government but on the upside, it will provide more jobs because of businesses being able to re-invest the "once meant for the IRS money" back into their businesses.

There are of course, ups and downs to both plans but you did ask for "fair" and that's about as fair as I can see.

But then my definition of fair: What all sides can agree on.

Your definition may be different.

Hubby


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