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Post by tonymil on Nov 21, 2011 8:56:42 GMT -5
Please consider getting behind this tax plan - as a starting point, not an end point, to a more fair society. I've posted on DailyKos a description of a federal tax plan that would with some very simple changes, radically change the way the federal government collects and spends revenue. It would be truly progressive, it would dramatically simplify the tax code, it would eliminate all deductions and tax based on gross income but at vastly reduced rates, it would tie taxing to spending and require the wealthy to pay for increases in spending, it would end deficits and the national debt. I hope folks here will take a look at the plan and comment here and at DailyKos. Thanks. www.dailykos.com/story/2011/11/21/1038369/-What-The-Super-Committee-Should-Propose-But-Wont |
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Post by 3lpoet on Nov 22, 2011 9:59:43 GMT -5
I think this tax plan has several flaws. First, asking someone who makes $25,001 to cough up 900 dollars a year in taxes is a problem. If you make less than a living wage, you shouldn't be paying taxes at all. Second, you acknowledge that asking the wealthy to pay only 35% is ludicrous, then your plan stops at 38%. The plan is steadily progressive for the poor and middle class, and then wildly unfair and flat for the top earners. You SAY well, link the top earners to spending, until everything gets paid for, but there is no schedule attached expalining how that is done. And do you think the wealthy will acquisce to necessary spending on infrastructure, safety, health care, food? Oh wait they don't even want to do that now, let alone when the spending is directly linked to the percentage of tax they owe. Third, the biggest 'loophole" I've seen in the current tax code is the house deduction. You say to put that in spending where it belongs. How do you propose to do that? Give the money to the banks and ask them to pass it on to homeowners? LOL. The tax code is very complex right now, I think your plan to simplify it is a good idea. But this plan only encourages the weathiest corporations to move even more of their money offshore, and the wealthiest individuals to lobby hard to reduce spending.
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Post by jonathanjetter on Nov 27, 2011 20:59:25 GMT -5
#5 on that list is absurd in my opinion. different businesses have different profit margins. different capital requirements. different equipment needs.
#3 gives far too much power to the IRS, and turns it into a policy-making institution instead of an enforcement institution that, in my opinion already has too much power.
points 1, 2, and 4 have some merit.
in my opinion, the right way to fix our issues would be:
balance the federal budget- starting with $500 billion/year of defense cuts, and going all the way down to much smaller programs. just eliminate waste, graft, fraud wherever it occurs.
end the carried interest loophole.
repeal the bush tax cuts.
end this situation where corporations hold tax dollars overseas until they can periodically bully congress into a 5% amnesty repatriation tax rate.
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