bush_cheney2004 Posted October 20, 2011 Report Posted October 20, 2011 I think these candidates are floating that idea as an idea to simplify things and widen the tax base.... It's not a new idea at all...Steve Forbes spent a lot of his own money campaigning on a "flat tax". It is politically DOA in Congress. Quote Economics trumps Virtue.
blueblood Posted October 20, 2011 Author Report Posted October 20, 2011 Not really. I get GST rebates (the last year that will ever happen) because last year, my income was only $22K. Thats true.The general idea is that it is to be flat, and I think that's how it was designed. Quote "Stop the Madness!!!" - Kevin O'Leary "Money is the ultimate scorecard of life!". - Kevin O'Leary Economic Left/Right: 4.00 Social Libertarian/Authoritarian: -0.77
Smallc Posted October 20, 2011 Report Posted October 20, 2011 Thats true.The general idea is that it is to be flat, and I think that's how it was designed. See, with compromises like I just pointed out, I'd be far more in favour of a flat tax. Alberta's is acceptable, because it doesn't start at $0. Quote
blueblood Posted October 20, 2011 Author Report Posted October 20, 2011 It's not a new idea at all...Steve Forbes spent a lot of his own money campaigning on a "flat tax". It is politically DOA in Congress. I didn't say it was a new idea, just an idea. Well that depends on the economic situation and who's in congress. I think the situation being as it is could be different. We have Grover norquist and the republican rep from Wisconsin Paul Ryan taking a serious look at it... Quote "Stop the Madness!!!" - Kevin O'Leary "Money is the ultimate scorecard of life!". - Kevin O'Leary Economic Left/Right: 4.00 Social Libertarian/Authoritarian: -0.77
bush_cheney2004 Posted October 20, 2011 Report Posted October 20, 2011 I didn't say it was a new idea, just an idea. Well that depends on the economic situation and who's in congress. I think the situation being as it is could be different. We have Grover norquist and the republican rep from Wisconsin Paul Ryan taking a serious look at it... There are too many special interests that influence US tax code through Congress....there will be no flat tax as you describe. There may be lower marginal rates with a broader base and fewer deductions, but IRS workers need not worry for their jobs. Quote Economics trumps Virtue.
Shady Posted October 20, 2011 Report Posted October 20, 2011 Exactly. Funny that nobody is talking about the enormous elephant in the room of what should be cut: the massive defense budget. The elephant in the room is Medicare and social security. Not defense. The defense budget becomes a smaller and small percentage of the budget in the future. However, those entitlements become larger and larger. Quote
GostHacked Posted October 20, 2011 Report Posted October 20, 2011 The elephant in the room is Medicare and social security. Not defense. The defense budget becomes a smaller and small percentage of the budget in the future. However, those entitlements become larger and larger. How does operating about 100 military bases all over the world help to defend the USA? Quote Google : Webster Griffin Tarpley, Gerald Celente, Max Keiser ohm on soundcloud.com
Smallc Posted October 20, 2011 Report Posted October 20, 2011 How does operating about 100 military bases all over the world help to defend the USA? Well, some of those bases do help, but I'm not sure if all of them are still necessary. The Japanese base should probably stay, as should Korea, but I'm not really sure if Germany is needed. Quote
bush_cheney2004 Posted October 20, 2011 Report Posted October 20, 2011 Well, some of those bases do help, but I'm not sure if all of them are still necessary. The Japanese base should probably stay, as should Korea, but I'm not really sure if Germany is needed. Well, that's a fair statement. Canadians really don't know and are not expected to know what are in America's interests. But I will bet that Canadian Forces injured in Afghanistan were happy to be humevaced' to the US military hospital in....Germany. Quote Economics trumps Virtue.
ToadBrother Posted October 20, 2011 Report Posted October 20, 2011 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... It's hardly the first time, and it won't be the last, but it will never happen. Apart from any particular structural issues surrounding flat taxes, the temptation to muck with even a flat tax code for votes would prove too great a temptation, and in the long run you would be largely back where you started. Quote
fellowtraveller Posted October 20, 2011 Report Posted October 20, 2011 10% of the poorest person's income means far more to them. Even Alberta realizes that. Correct. That is why taxes are kicked back to low income earners. At $22k gross income, you'd pay nothing in AB tax. At $22k taxable income I'm not sure, but it would likely be very little if anything. Your kids would still get to attend school, you can still go to the doctor and you would be permitted to walk on the sidewalk. Quote The government should do something.
Smallc Posted October 20, 2011 Report Posted October 20, 2011 Correct. That is why taxes are kicked back to low income earners. Yep, and I have no problem with that...even though I'll never make that small of an amount of money again. Quote
Moonlight Graham Posted October 20, 2011 Report Posted October 20, 2011 How does operating about 100 military bases all over the world help to defend the USA? How do they not? Quote "All generalizations are false, including this one." - Mark Twain Partisanship is a disease of the intellect.
fellowtraveller Posted October 20, 2011 Report Posted October 20, 2011 Yep, and I have no problem with that...even though I'll never make that small of an amount of money again. Of course, with the progressive taxation system the money not paid by low earners is paid for already with higher earners Quote The government should do something.
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