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Obama's "Job Creation" plans


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  #11  
Old 02-09-2010, 02:11 AM
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As you pointed out, a flat tax is a spending tax. It's not how much you earn, it's how much you spend.

There are many other points to the value of a flat tax:
  • People who work "under the table" will be taxed on what they spend
  • Drug dealers and other criminals don't pay income tax but they will pay a flat tax.
  • The government will know each month how much they can waste.
  • A 20% flat tax would deposit more money into the government treasury's than an income tax.
  • No more IRS.
  • Your paycheck will be yours.
  • No Lobbyist.
Why it is fought so hard:
  • No distribution of wealth.
  • It would make government smaller.
  • Special interests - tax attorneys, tax the people and copanys who prepare tax returns and the socalled non-profit businesses.
  • The government will lose population information (They won't have access to our bank accounts and all the info on your tax form.
Steve
You are killing me! Heck, they don't care how much they spend now! They spend twice as much as they have!
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  #12  
Old 02-09-2010, 04:43 AM
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It would be an interesting experiment to see if one state possibly could enact it and then we could see how that state does with a flat tax. Although, would it drive citizens to potentially buy things from outside the state? Would that then negatively effect the performance of the flat tax?
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Old 02-09-2010, 06:58 AM
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It would be an interesting experiment to see if one state possibly could enact it and then we could see how that state does with a flat tax. Although, would it drive citizens to potentially buy things from outside the state? Would that then negatively effect the performance of the flat tax?
Alaska, Florida, Nevada, South Dakota, Washington, Wyoming, New Hampshire, and Tennessee have no state income tax. Just state sales taxes which is a form of flat tax. All are doing better than he national average as far as income to their treasury's go.

Citizens buying from outside the state would be offset by people from outside the state coming into the state to make purchases or tourism trade. Again a sales tax or flat tax is paid by everyone based on what they spend not what they report to have earned.

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Old 02-09-2010, 10:16 AM
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Alaska, Florida, Nevada, South Dakota, Washington, Wyoming, New Hampshire, and Tennessee have no state income tax. Just state sales taxes which is a form of flat tax. All are doing better than he national average as far as income to their treasury's go.

Citizens buying from outside the state would be offset by people from outside the state coming into the state to make purchases or tourism trade. Again a sales tax or flat tax is paid by everyone based on what they spend not what they report to have earned.

Steve
I think a flat tax on what you earn would still be more fair than the current loophole system. You earn $500,000 you pay 15% you earn $50,000 you pay 15%.
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