Skip to main content

View Diary: The Haves, the Have Mores and John McCain (16 comments)

Comment Preferences

  •  Can't we just have a flat tax? (0+ / 0-)

    My head spins every time I do my taxes. I actually feel a little guilty, ok maybe not, but Last year the feds payed ME six hundred smackers. WT heck. I sure aint poor. How bout everyone pay 20 percent, no exemptions. I know, it hurts the poor, but think of all the red tape, lobbyists, and crap it would cut!

    Don't drink and blog

    by c2olgos2 on Tue Aug 19, 2008 at 02:35:52 PM PDT

    •  Nice of you not to care (0+ / 0-)

      about the poor and those of us whoa re struggling to make it on under 30 K a year. And you're amazingly nive if you think this would  cut out lobbyists--the rich would still push for loopholes and deductions even with a flat tax.

      The last time we mixed religion and politics people got burned at the stake.

      by irishwitch on Wed Aug 20, 2008 at 07:11:28 AM PDT

      [ Parent ]

      •  You could simply amend the constitution (0+ / 0-)

        to state that the tax rate is X% with no exceptions or deductions on any income. And that the tax rate may only be changed from X% by a 2/3 in both houses.

        BTW - nice strawman.

    •  The original Flat Tax (0+ / 0-)

      concept (in the 1970's) had us all paying 5%. Everyone... you, me, Bill Gates, Warren Buffet, Microsoft, Exxon, Walmart...

      Given the size of the Federal budget now, it would probably have to be 10 or 15%.

      It's not so much the rate as the absence of deductions and exemptions that made the concept interesting. Low-end wage earners might pay a little more, but corporations would pay a LOT more.

      It's purpose was not just to make the tax system simpler. It was really to restore a simple and trustworthy relationship between citizen and government.

      If the president wants to invade a foreign country, he has to go to Congress and ask them to raise the income tax from 5% to 5.5%.

      If Congress wants to encourage alternative energy research, they issue direct grants rather than offering tax incentives for others to fund it.

      All government expenditures are on the table, for every voter to see and understand. Business investments are considered for their merits, not for their tax advantages.

      When Reagan was prez the Right appropriated the term "flat tax" to describe a "flatter at the top" tax rate. Similar terms, like "fair tax" and "simple tax" have also become right-wing canards.

      The NeoCons imposed a so-called flat tax on conquered Iraq, along with foreign ownership of bank and businesses.

      The tax code today benefits the wealthy. There's a huge industry of accountants and analysts whose livelihoods depend on it.

      It would take a constitutional ammendment to change it to a real Flat Tax now.

      BushCheney Inc. - They lied to me, they lied to you, they lied to our troops.

      by jjohnjj on Wed Aug 20, 2008 at 12:24:07 PM PDT

      [ Parent ]

      •  The FairTax is no canard (0+ / 0-)

        And you betray your lack of understanding of the concept by lumping it in with other schemes.

        Reagan's tax rates were the flattest rates in recent memory. And don't forget that the top individual income tax rate and the cap gains rate were the same under Reagan.

        The tax rates can be changed to whatever rates an in however many steps desired. Keeping them there may take and amendment however.

    •  They paid you six hundres smackers? (0+ / 0-)

      Or they returned the $600 that you overpaid in your withholding?

      You would do well to review your tax returns along with your pay stubs and really figure out what is going on when you file your taxes.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site