Frankly I Prefer a Progressive Flat Tax …

from JoeUser Forums

 

Which means there still has to be incremental boosts within each tier.

Single page tax form.

Taxable income should be determined only by dependents and out of pocket medical care above $1,000 and other proven casualties. No other tax preferences except real estate tax on residence but no interest and therefore no AMT. There could, however, be consideration for some rent relief.

Earned and unearned income treated as equals.

Single or two page form for businesses and corporations showing gross revenues, plant expenses, other equipment with stringent oversight of declining capital costs, advertising, repairs, salaries, wages and outside labor costs, strict regulation on endorsements and naming rights, stockholder dividends deducted from net profits, local and nationwide charitable causes and so forth.

Tier Rates:

10% up to $50,000 any sum above @18% to the next tier

20% up to $100,000 any sum above @23% to the next tier

25% up to $500,000 any sum above @26% to the next tier

28% up to $1,000,000 any sum above @27½% to the next tier

29% up to $5,000,000 ½% surtax any sum above.

Copyright © 2008 Richard R. Kennedy All rights reserved. Revised: Nov 29,  2008.

http://stevendedalus.joeuser.com

http://www.lulu.com/rrkfinn

 

flat tax politics
4,722 views 11 replies
Reply #1 from Stardock Forums Top

I agree with the flat tax, but disagree with the progression. Why should one mans dollar be taxed more because he earned more? Have a low income bracket that pays little or nothing, then flat tax to infinity. The more you make the more they take, but it's a level percentage. People that make less would be aided by exemptions and other deductions to a point, as they would get a portion of their taxes back, The rich get the same deductions too, but depending on how much they earn the benefit of the deductions wouldn't be as sizable as to what they pay in taxes.

Frankly Richard, I'm surprised you would consider any type of flat tax, since it appears to be a conservative issue. Maybe you're not so bad after all ;)

Reply #2 from JoeUser Forums Top

A progressive flat tax is a progressive tax.  You are just trying out some new semantics.

And besides, that is what we already have - just not so low.

Sins of a Solar Empire II
Reply #3 from JoeUser Forums Top

A progressive flat tax is a progressive tax. You are just trying out some new semantics.
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Yeah, you caught me! A pure flat tax would be absolutely no preferences but as Nitro suggests perhaps disallowing dependants after, say $75K, yet everyone pays 20% on all taxable income. 

Reply #4 from Stardock Forums Top

Personally I'd like to see a consumption tax rather than income tax.

Reply #5 from JoeUser Forums Top

Personally I'd like to see a consumption tax rather than income tax.
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I'll go for that as long as there are surtaxes on luxury items. Of course, one's Lexus is a luxury, to another a way to get to the office.

Reply #6 from JoeUser Forums Top

I'll go for that as long as there are surtaxes on luxury items. Of
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That's what they did to the Boat industry - to kill it and put a lot of people out of work.

Reply #7 from PolMach Forums Top

im always suprised at how lower class people will stick up for a flat tax in the desperate hope that they will one day be rich.  give it up brother!  Your most likly going to be in the social class you were born in.  The rich dont need to be saved by you from the big scary taxes.  Poor rich...I think we should start a collection for them.

Reply #8 from JoeUser Forums Top

That's what they did to the Boat industry - to kill it and put a lot of people out of work.
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Yeah, like there are so many jobs in the yacht industry. Now, you are concerned over job loss but the hell with hundreds of thousands in the auto industry.

Reply #9 from JoeUser Forums Top

im always suprised at how lower class people will stick up for a flat tax in the desperate hope that they will one day be rich.
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I fail to see this having anything to do with the thesis of the article. 

Reply #10 from JoeUser Forums Top

I fail to see this having anything to do with the thesis of the article.
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Ok re: the title: It's an oxymoron. You can't have a progressive flat tax. The closest you could get is a flat tax with an annual exemption. It's a flat rate, hence is flat - it doesn't change based on income.

Reply #11 from JoeUser Forums Top

Yeah, like there are so many jobs in the yacht industry.
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If you dont learn from your mistakes, why would you stop at "little" industries?  Yes, the Yacht industry did not employ "millions", so let's do it with an industry that does.  And you expect the outcome to be different?