well, I would agree, the tax code in it's current form can't be fixed in a fair and flat way, and if it was ever fair and flat half of congress would resign because there would no longer be any money in it for them
and that is why I am announcing my candidacy for 2016. Under my new tax law, the 1% will pay for all government, and 99% will live tax free. If you unfortunately find yourself in the top 1%, we will tax you to pay for all the USA government, until mercifully you find yourself in the 99% like the rest of us. How's that for an economic plan?
I know where you are coming from. You aint nothing but a goddamned democrat communist who thinks your bad luck is directly tied to someone elses good luck. You think you can't make more money unless someone else makes less money. It's not an economical plan, it's a mental illness. We are not fighting against rational thinkers, we are fighting against children who can't operate a calculator. I work my butt off each and everyday trading, so it is nice to hear Santorum say he is for the "workers." It's about time we traders had a voice in government. I hope when they talk about "workers" they are talking about somebody like us, and not some dumbass who shows up for a job each day and gets paid whether the company is profitable or not.
why the hell do we need income taxes anyway? That is what tariffs were for. They grew our industry and fed the govt. You all seem to think its ok that the govt forces us to pay them income taxes and then takes our money when we die? Who TF died and left these crooked politicians (who work for us) king? According to one of the first trading books I read, the peasants use to revolt when the kings started taking about 20% and that was the king who owned all the land.
Typically a flat tax does away with capital gains and the like. Who knows what voodoo Santorum is pushing for, though.
Doubt we'll ever see it. Progressive income tax rates plus "special carve-outs" in the tax code are too valuable of tools for the ruling elites to ever give up.
Shut down the IRS. Right. Let's see....how many lobbyists, lawyers, accountants and govt employees would this affect? Yeah, easy peasy to "shut it down". Fucking idiot.
Here you go Arnie . . . use this to shut them down :- FBI Says It's Investigating Identity Theft At IRS WASHINGTON (AP) — The FBI says it's begun an investigation into the theft of personal tax information of more than 100,000 taxpayers from an Internal Revenue Service website. The FBI said Thursday that agents were "working to determine the nature and scope of this matter." The agency is advising individuals it's contacted to take steps to safeguard their personal information. IRS Commissioner John Koskinen has said the information was stolen as part of an elaborate scheme to claim fraudulent tax refunds. Two officials told The Associated Press on Wednesday that IRS investigators belief the identity thieves are part of a sophisticated criminal operation based in Russia. The information was taken from an IRS website called "Get Transcript," where taxpayers can get tax returns and other tax filings from previous years.
For personal and corporate/business? Or just the one or the other? And just so that we're on the same page, how do you define "exemption" for the purposes of this discussion?
All. Both personal and corporate. Capital equipment amortized fully in the year it's bought. Exemptions are the litany of tax-deductible breaks any person, household, business or special entity gets in the code. Doesn't matter how I define them. Matters how the IRS tax code defines them. I have no idea how many there are. Probably tens of thousands. Perhaps millions. The standard personal ones cost of living expenses, dependents, mortgage interest etc.