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David Floyd
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The bottom of a large bottle of beer
Jan 1970
time: 05:19
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It'll be a step towards freedom - my main concern about Bush, currently, now that it looks like Ashcroft and Ridge and Rumsfeld are on the way out, is who he will appoint to the courts.
I still won't really be pro-Bush, but I will agree that he is a better choice than Kerry.
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David Floyd
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The bottom of a large bottle of beer
Jan 1970
time: 05:19
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Uh, capital gains taxes are still in place, AFAIK.
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Dr Strangelove
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Would this tax be sorta like the european Value Added Tax?
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The Emperor Fabulous
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Apolyton's Resident Actor-in-Training
Aug 1999
time: 00:19
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quote:
Originally posted by David Floyd
It'll be a step towards freedom |
Freedom?! A flat tax is freedom?! It screws the poor and the middle class and you know it.
If there were a 20% tax, lets say, and you compare the person earning 17,000 a year to the person earning 170,000, you see how wrong it is. The person making 170,000 will have 34,000 taken, leaving them with 136,000 still to spend on food, clothing, and shelter. The person making 17,000 will only have 13,600 to provide a family with.
Any way you cut it, that's not how it should be. Those in poverty should be given at least a chance to make a good life with what they have, and not allow those at the top to take advantage of the situation. I fully hope to pay a larger amount of taxes when I get a job. If I make 150,000 a year, I will be more than happy to give to society what I am able. And even if I wasn't happy to, I most certainly should because I can.
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AnnC
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State & Ontario
Sep 1999
time: 23:19
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I assume we're talking about this article, Big Tax Plans, Big Tax Risks:
quote:
Most flat-tax plans envision a rate of about 20 to 25 percent, meaning that some people who are now paying tax at a 10 or 15 percent rate would pay a higher rate, while wealthy people who are paying as much as 35 percent on some of their income would pay at a lower rate. |
Republicans have been talking about this for a long time, and some conservatives think that shifting the tax burden to wage-earners is a good thing because it will (supposedly) make middle-class people hate "big government".
From the Washington Monthly article Party Down, which compares 1970s-era Democrats to present-day Republicans:
quote:
... budgetary reality had little effect on the movement conservatives who by 2001 dominated the Republican Party. Instead, they embraced the small-government/low taxes paradigm even more tightly, with a moralistic fervor not unlike that which moved liberals in the 1970s to a ferocious defense of big government and high taxes against all logic. Politically, cutting taxes provided for Republicans a unifying force similar to that which spending had provided the Democrats: It was the one policy that almost every part of the often-fractious GOP coalition--libertarians, cultural conservatives, multinationals, small business owners, investors in Wall Street, the energy sector--could agree on. And for the party's strategists, tax cuts were the route to a permanent GOP majority. The promise of a new rate reduction every year--first rate reductions, then dividend cuts, then corporate breaks--would keep K Street pliable. And eventually, a shift in the tax burden from the wealthy and corporations onto the backs of the middle class would (or so the theory held) cool voter demand for more government, thereby undermining the Democrats' reason for being. |
If Republicans get the tax code they want, middle-class families with dependent children will be hit the hardest. If you're in that category and you voted for Bush, may you get what you deserve.
Last edited by AnnC on 09-11-2004 at 04:52
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JohnT
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Capitalist
Mar 1999
time: 00:19
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The person making $17,000 a year would pay $765 in income taxes under Steve Forbes'* old tax plan, not $3,400. Currently, using a standard deduction, they pay $1,215.
One thing about the flat tax (again, proposed by Forbes), is that the standard deductions are increased to $12,500 for individuals and $5,000 for dependent children, so that a family of four would have their first $35,000 of income tax free.
*Tax rate of 17%, deductions: $5,000 dependent, $12,500 single, $25,000 married.
Last edited by JohnT on 09-11-2004 at 05:08
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09-11-2004 02:05
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