Flat tax idea in USA primaries

[blueblood]

We have Cain and perry floating a flat tax idea. Good idea or bad idea?

My link

I like it that it simplifies the tax code and ensures a wide tax base. Also sets market certainty which helps out economy. Hard sell for lower middle class though, and that's where the votes are...

Edited October 20, 2011 by blueblood

[jacee]

We have Cain and perry floating a flat tax idea. Good idea or bad idea?

My link

I like it that it simplifies the tax code and ensures a wide tax base. Also sets market certainty which helps out economy. Hard sell for lower middle class though, and that's where the votes are...

I expect it's a no sell. End of story.

Clearly the world is moving on without those repubs.

[bush_cheney2004]

I expect it's a no sell. End of story.

Clearly the world is moving on without those repubs.

Is there a flat tax in Canada? Well?

[Shady]

I expect it's a no sell. End of story.

Clearly the world is moving on without those repubs.

Yes, clearly.

Anyways, I like the idea of a flat tax, or at the very least, a lowering if all taxe rates in conjunction with the elimination of all or most deductions and subsidies.

[Smallc]

Anyways, I like the idea of a flat tax, or at the very least, a lowering if all taxe rates in conjunction with the elimination of all or most deductions and subsidies.

Taxes should stay the same, and loopholes should be removed. Then, spending should be cut.

Edited October 20, 2011 by Smallc

[Moonlight Graham]

i don't think lowering taxes on the rich and raising taxes on the non-rich, especially the poor, is going to fly with most voters (who are themselves non-rich). They basically want to raise taxes for most voters...UNWISE POLITICAL MANEUVER!

[blueblood]

Is there a flat tax in Canada? Well?

Alberta provincial income tax...

[Moonlight Graham]

taxes should stay the same, and loopholes should be removed. Then, spending should be cut.

Exactly.

Funny that nobody is talking about the enormous elephant in the room of what should be cut: the massive defense budget.

[blueblood]

taxes should stay the same, and loopholes should be removed. Then, spending should be cut.

The kicker is the high corporate tax rate in the USA. Take out the loopholes and if they are stuck with a 35% corporate tax rate, that's a recipe for an exodus and slashing workers.

[bush_cheney2004]

Alberta provincial income tax...

You mean like these states:

Colorado - 4.63%

Illinois - 5.0%

Indiana - 3.4%

Massachusetts - 5.3%

Michigan - 4.35%

Pennsylvania - 3.07%

Utah - 5%

[Smallc]

The kicker is the high corporate tax rate in the USA. Take out the loopholes and if they are stuck with a 35% corporate tax rate, that's a recipe for an exodus and slashing workers.

They should make a commitment to cut corporate taxes as the budget is balanced.

[Smallc]

Exactly.

Funny that nobody is talking about the enormous elephant in the room of what should be cut: the massive defense budget.

Hell, Mitt wants tin increase it. He wants to go from building 9 ships a year to building 15, the most ever. Over a 30 year life, that's 450 ships, one of the largest navies ever.

Edited October 20, 2011 by Smallc

[blueblood]

Exactly.

Funny that nobody is talking about the enormous elephant in the room of what should be cut: the massive defense budget.

Which is a pittance to entitlements. Defense is already being cut, but in he unique case of the usa, cutting defense is a delicate balancing act.

[Smallc]

Which is a pittance to entitlements. Defense is already being cut, but in he unique case of the usa, cutting defense is a delicate balancing act.

Entitlements need to be fixed. People need to actually pay what medicare costs. The US should also split up social security. Canada has 3 programs; CPP, OAS, and GIS. CPP is self sustaining, and OAS and GIS are small enough to manage.

Edited October 20, 2011 by Smallc

[blueblood]

You mean like these states:

Colorado - 4.63%

Illinois - 5.0%

Indiana - 3.4%

Massachusetts - 5.3%

Michigan - 4.35%

Pennsylvania - 3.07%

Utah - 5%

Not that low, there's healthcare to pay for. But the provincial tax is flat, everyone who lives in Alberta coughs up 10% regardless of income.

[Smallc]

Not that low, there's healthcare to pay for. But the provincial tax is flat, everyone who lives in Alberta coughs up 10% regardless of income.

Not the lowest earners. I'm not in favour of a flat tax, although I am in favour of lowering middle brackets where possible.

[blueblood]

Hell, Mitt wants tin increase it. He wants to go from building 9 ships a year to building 15, the most ever. Over a 30 year life, that's 450 ships, one of the largest navies ever.

By boat sinking ability, the largest. Those Greek triremes can't sink much

[blueblood]

Not the lowest earners. I'm not in favour of a flat tax, although I am in favour of lowering middle brackets where possible.

Why not? The poor use the services, they can pay the piper. They may have to start buying less trinkets. Helps out those who create jobs. Seems fair to me.

[Smallc]

By boat sinking ability, the largest. Those Greek triremes can't sink much

I mean one of the largest US navies ever, lol. At one point, there was over 500 ships, though they were far less capable.

[Smallc]

Why not? The poor use the services, they can pay the piper. They may have to start buying less trinkets. Helps out those who create jobs. Seems fair to me.

10% of the poorest person's income means far more to them. Even Alberta realizes that.

[blueblood]

10% of the poorest person's income means far more to them. Even Alberta realizes that.

Alberta isn't as broke as the USA either. They need as wide a tax base as possible.

[bush_cheney2004]

I mean one of the largest US navies ever, lol. At one point, there was over 500 ships, though they were far less capable.

Not necessarily true...the US Navy cannot support certain missions these days due to a lack of platforms and types that are compromised as multi-role.

[Smallc]

Alberta isn't as broke as the USA either. They need as wide a tax base as possible.

Canada isn't as broke as the USA either. The federal government doesn't have a flat tax. I'm not getting your point.

[blueblood]

Canada isn't as broke as the USA either. The federal government doesn't have a flat tax. I'm not getting your point.

I think these candidates are floating that idea as an idea to simplify things and widen the tax base. For example in canada we implemented the gst which is a flat sales tax and hit everyone, yet paid for trudea's debt and mulroney's interest payments on said debt, and it hit the poor as well, yet these days we are doing extremely well. The USA needs to maximize it's revenue without making it Too expensive to do business down there. A flat tax does that, and spending will need to be slashed on a scale similar to Ireland.

[Smallc]

For example in canada we implemented the gst which is a flat sales tax and hit everyone,

Not really. I get GST rebates (the last year that will ever happen) because last year, my income was only $22K.