First I think you should use some numbers to prove that we have the "BEST" income tax system. Otherwise it is just a subjective opinion. My main complaint with a progressive tax system is that it discourages work. Why would I want to work an extra hour if the income from that extra work is diminished by a rising tax? It is not "FAIR", in fact this tax punishes people for hard work. Ever wonder why communism failed? Its because people are both lazy and greedy. Taking away the potential for profit reduced the benefits of greed, thus the only thing left do was to sit back and let the other suckers work. Although there will always be cheaters, they do serve a purpose, when their numbers rise its an alarm bell that taxes are too high. Tax havens also serve this purpose, they are a warning to governments that people will move earnings offshore if taxation is out of control. In regards to loopholes, I think a flat tax goes a long way to eliminating many of them, thus some of the extra revenue of a progressive tax is offset by less loopholes. -Neo
You eventually reach a point where an extra unit of productivity is not worth it due to the weight of tax, you reach a point of diminishing returns. -Neo +1
Fair enough: here are some numbers for a person filing Single status. Rates stated are a little high because they ignore the Standard Deduction and Personal Exemption which reduce Taxable Income. 10% on income between $0 and $8,350 15% on the income between $8,350 and $33,950; plus $835 25% on the income between $33,950 and $82,250; plus $4,675 28% on the income between $82,250 and $171,550; plus $16,750 33% on the income between $171,550 and $372,950; plus $41,754 35% on the income over $372,950; plus $108,216 Now, let's say you make exactly $82,250 dollars. You pay 25 cents on that last dollar in taxes. Who, in their right mind, is going to REFUSE to make one dollar more because they will have to pay 28 CENTS on that extra dollar instead of the 25 CENTS they paid on the last dollar. Don't be tax wise and income (cash flow) stupid. All of us should be making offerings to the tax gods in hopes that we have to pay $1 million in taxes next year. BTW, a cheater is a cheater and a thief is a thief: the amount involved does not change one's character.
Sadly, today in the USA, most are too braindead / brainwashed / drunk on government to grasp the concept of the elimination of the IRS. Unfourtunately, and most likely, only violence would be able to break the stranglehold. The IRS is nothing less than slavery. Look what we had to go through to get rid of our last form of slavery.
Hey I have a great idea, lets have a tax tea party, just like the Boston tea party, that'll show em and if your too busy to get to the tea party just honk your horn three times, I'm sure that will lower or maybe even get rid of our taxes.
Flat Tax + National Sales tax thats the way to go. <object width="825" height="644"><param name="movie" value="http://www.youtube.com/v/x6-5g78Nr6Q&hl=en&fs=1&rel=0"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/x6-5g78Nr6Q&hl=en&fs=1&rel=0" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
I absolutely support the idea, abolish IRS.. impose flat tax (sales tax). You simply choose how much tax you want to pay buy choosing how much you want to spend. Food should be tax exempt. It is so good to be true, I don't think the crooks in the government will ever allow this. Also, those 1% richest will oppose this, because they pay less right now.. And all of you on this forum, middle class Americans.. if you oppose this... you are brainless morons..
What do you mean "we"? I'd rather the US default on its debt. I didn't ask for a few useless wars and a prescription drug benefit. The public was opposed to the massive government bailouts, and Pelosi actually f'in said, "It isn't being sold to the public correctly." No -- politicians aren't there to sell us things, they are supposed to listen to us. Everyone knows those politicians ran us into the ground for their own selfish benefit. I'm not going to be the one left holding the bag, and if people revolt, I will join with the people.