Interesting but not going to happen

[dellinger63]

Originally Posted by Danzig

interesting, yes. but a flat tax is considered a regressive tax, and is a blow to those in the lowest income groups, and a boon to those in the highest.

matter of fact, it says in that article that it would benefit the rich. so, of course paul will want to propose things that would get the koch bros and others like them to back him financially.

Make the first $10K earned tax free and tax everything above that at 20%. An individual making minimum wage or $16,320/year would pay $1,264 for an effective rate of 7.7% while an individual making $200K would pay $38K and be at an effective rate of 19%.

Stop enticing poor, single, too young mothers to breed for dollars.

[jms62]

Originally Posted by dellinger63

Make the first $10K earned tax free and tax everything above that at 20%. An individual making minimum wage or $16,320/year would pay $1,264 for an effective rate of 7.7% while an individual making $200K would pay $38K and be at an effective rate of 19%.

Stop enticing poor, single, too young mothers to breed for dollars.

From reading the article he did talk about an earned tax credit. Now all he needs to do is allow me to write off trading gains vs gambling losses. It's all glorified gambling anyway

[Danzig]

http://www.usnews.com/debate-club/is...e-new-problems


also, note:

Because flat tax proposals lower rates at the top, and because the top is where an increasing share of income is being concentrated, they also tend to bring in significantly less revenue than the current tax code, resulting in higher deficits, fewer public investments, and pressure to cut programs like Social Security and Medicare

[GenuineRisk]

Here's the tell on who Rand's tax benefits:

"Investment income: Capital gains, dividends and interest would be tax free."

In other words, where rich people get most of their income. So he's saying working schlubs pay tax, and the hereditary wealthy pay no tax.

I am surprised so many right-wingers spout off about their alleged love of freedom, since it's clear that they don't want a democratic society; they want a feudalistic one. Where the peasants support the aristocrats.

That's what this flat tax proposal is. The poor and working class paying for the wealthy.

[dellinger63]

Originally Posted by GenuineRisk

I am surprised so many right-wingers spout off about their alleged love of freedom, since it's clear that they don't want a democratic society; they want a feudalistic one. Where the peasants support the aristocrats.

That's what this flat tax proposal is. The poor and working class paying for the wealthy.

The top 10% pays 68% of all individual taxes while the bottom 50% pays 3% of all taxes. (this of course does not include those who file no taxes).

The notion the rich don't pay more than their fair share is complete fantasy.

But then again it only affects 10% so who cares?

It's not like they're being denied pizza at their weddings.