InvestorsHub Logo

SOROS

10/14/13 3:38 PM

#86213 RE: DesertDrifter #86212

They have SS numbers on everyone, so having EXEMPTIONS, as I did say, corrects that problem. With a FLAT exemption amount PER PERSON for housing, food, health insurance, gas, it would spare taxes on the truly needy, not bury the middle class, and only give a nominal exemption to the truly rich -- almost meaningless. The rich would be exempt from up to ONE $500,000 home for example, and all their other homes would be taxed. All their travel would be taxed. All their cars and toys and stuff would be taxed. See how that works? Your solution does nothing to capture taxes on the illegals in the country and all of the illegal businesses. Plus, there actually are middle class investors, believe it or not, who would be hurt terribly, especially retired ones, by taxing capital gains at high levels. I'd be all for taxing capital gains if it was progressive by income from those gains. Say, if your capital gains are under $400,000 then the 15% is fine. 20% for $400K - $700K. 25% for $700K-$1M. 30% from $1M - $3M. $35% from $3M-$5M. And so on, until those making the insane amounts, like $50-300 million in income get taxed at 50% or even 60%. It won't happen because those in control are those making the big bucks, and since our own gov't runs a ton of the illegal businesses, that's just another reason you will never see this simple sales tax solution either.

Again, why does everyone on this board give a complete pass to the Democrats in DC? They take the same millions from taxpayers for their cooks, dog trainers, chauffeurs, 1st class travel, 18 interns, etc., but you give them a pass. WHY? All of Congress should have term limits because they are ALL takers and scum.

PegnVA

10/14/13 4:00 PM

#86215 RE: DesertDrifter #86212

Steve Forbes tried to push for a flat tax years ago so it's no surprise conservs and conserv organizations like Freedom Works are bringing it up again. A flat income tax taxes everyone at the same rate regardless of income level and would hurt low-income people the most...One thing that remains consistent with conservs - they don't care about people who have less.

All those teabaggers who receive GOV'T Social Security, GOV'T Vet benefits, and GOV'T disability benefits would get hurt, but they don't think things through; they accept whatever a conserv pol/FOX tells them.

n4807g

10/14/13 5:07 PM

#86223 RE: DesertDrifter #86212

LOL...how ironic that many "progressive" states have the highest Sales Tax rates.