Taxes suck
I hate them. So I love hearing about ways to make them lower. If you haven't heard about Fair Tax, you should educate yourself. This website has a list of video clips with different people discussing the Fair Tax Book, and ideas around it. (Best way to view the videos is right-click and then choose "save target as", to download the clip to your computer, then open the file when it is done downloading.) Obviously, reading the book would be the best way to find out about it, which I plan to do, but check out the videos, it's a pretty exciting idea.
posted by DOBBER at 7:23 PM
5 Comments:
"love hearing about ways to make them lower"
The best way to lower taxes for the many is to stop giving all the tax cuts to the few.
2:32 PM
stinkerhead i agree with your statemnet if we change it to: "the best way to lower taxes for the many is to lower taxes for the many"
thats much simpler logic, and who wouldn't agree with it? I would be surprised to talk to anyone that thinks that taxes are too low or just right. Pretty much everyone I talk to agrees that taxes are way too high! So is the amount of spending of the American government. Can you possibly agree that $2 billion federal dollars spent on TV
ads supposedly educating children of the dangers of marijuana is good money spent? I paid for part of those ads. I dont even have kids! How about a better idea, parents tell their kids dont do drugs, and save me (and my friends....including you, stinkerhead) $2 billion dollars.
So, stinkerhead, my point is simple. Spending is too high. Taxes are too high. But your statement of the few paying more, (the equivalent of not getting a tiny portion of their own money back) is an interesting one. Luckily for us, we have watchdog sites like the Tax Foundation. Check out this article that gives the statistics on how many more people are totally exempt from income taxes year after year. So, stinkerhead, the fact is, more and more are paying ZERO taxes on income. I'm no tax expert, or accountant... I'm developmental engineer with a second BS in Math. Regardless of my privleged education courtesy of Saint Vincent College and the University of Pittsburgh, I cannot even begin to understand the income tax codes. So, I agree with Congressman John Linder and his call for fair tax! Eliminate the IRS, and create a National Retail Sales Tax of approximately 23% on all retail sales. If you would like to discuss that point, which is what this post was originally about, please comment.
8:51 PM
Let's get REAL.
The FACT is, dobber, that the payroll (fica) tax is an income tax. The revenues are used the same as any others. So all wage earners, from the bottom minimum wage worker on up, pay "income" tax.
The sad FACT is that the payroll tax is also an incredibly REGRESSIVE tax.
Since most economists agree that the "employer portion" of the payroll tax comes from the employee anyway (via reduced wages) the approximate tax rate for a minimum wage worker is 10@. That rate stays true for workers earning up to aprrox $100K
Being a math major, you probably see where I'm heading?
So a person making $500k pays 5%
and a person making a cool million?
He pays 1% - ONE PERCENT!
Of course, he's way over taxed compared to that person lucky enough to make 10 million big ones. For that poor soul, we lower the tax rate to ONE TENTH OF ONE PERCENT! God knows he can't afford to pay a penny more!
And besides why should he?
He's got the guy making $5.15 an hour at Mall-Wart and paying 10% payroll tax.
10:26 PM
Oh, as far as "what this post was originally about", I went to that page and saw -
"FairTax April 15th, 2004 Rally with Tom DeLay "
With a recommendation from Tom Delay, what can possibly stop such a great idea?
Basically, I've found that all so-called flat taxes, whether income or sales, are set up to benefit the rich. Tom Delay's endorsement of this idea is proof enough for me.
Needless to say, I didn't bookmark that page.
1:13 AM
Stinkerhead, sorry for the delay...
hope you're still around...
The FairTax allows the poor to may zero taxes. Please read about it, and let me know what you think.
In the mean time (is that one word or two...) i'll be posting daily over at www.neoperspectives.com
3:53 AM
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